Latest property News

How priced-out renters contributed to Australia’s house price boom

Monday 15 Jul 2019

Renters priced out of buying property have tended to bid aggressively at auctions, which has in part contributed to the recent price boom in Sydney and Melbourne, a Reserve Bank researcher has suggested. While acknowledging that lending standards and interest rates contributed to the boom, modelling from economist Trent Saunders and senior research manager Peter Tulip, presented as part of adiscussion paper at the Economics for Better Policy forum in Melbourne on Monday, indicated that ....

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Building boom helps keep lid on house, apartment rents around capital cities

Wednesday 10 Jul 2019

A building boom across major Australian cities is helping to keep a lid on rent increases despite strong population growth, new figures show. But tenants in some capitals still face high costs, with Canberra and Sydney renters slugged well over $500 a week for the average house. “It’s the supply and demand story,” Domain economist Trent Wiltshire said of the Domain Rental Report for the June quarter, released on Wednesday. “When construction increases that gene ....

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Build to rent could shake up real estate but won’t take off without major tax changes

Monday 08 Jul 2019

In the wake of slumping demand for apartment building, it’s little wonder the multi-unit housing industry has been eagerly eyeing a possible new residential product: “build-to-rent”. In fact, the latest figures show that apartment-building construction starts were down 36 per cent in 2018 from 2016. But how much will this little-known type of housing solve our housing problems? Build-to-rent won’t be a silver bullet solution for Australia’s housing a ....

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Downsizers and first-timers underpin value in regional NSW in 2019

Friday 11 Jan 2019

Downsizers eager to take advantage of Sydney’s long-term capital growth, along with first home buyers, more rainfall and less banking red tape, are set to underpin property values in regional NSW in 2019, according to one leading network. Executive chairman of Raine & Horne Angus Raine said that it’s a matter of simple economics. “Despite softer dwelling prices in Sydney, downsizer activity is driving demand for real estate in some of NSW’s major regional growth centr ....

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Commission cuts, agent evolutions and recovering markets ahead in 2019, network chiefs predict

Friday 11 Jan 2019

REB asked three industry leaders how they anticipated 2019 might pan out — for agents in particular, and the industry in general. Predictions ranged from changes to the agent value proposition and commission cuts to recovering markets and royal commission mop-ups. CEO at Better Homes and Gardens Real Estate Simon Cashman said that the industry is likely to migrate from being simply transactional to becoming a full-service business in the year ahead. In a similar vein, Purplebricks Aus ....

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Listing fell more than expected in December

Tuesday 08 Jan 2019

Although declines are expected in the holiday period, national listings fell more than anticipated by 9.2 per cent in December 2018 to 328,203, figures released by SQM Research reveal. The research house said that this seasonal decline is typical as vendors withdraw advertising and inspections over Christmas and New Year. However, the declines, especially in Sydney, Melbourne and Canberra, were larger than expected at 17.7 per cent, 17.2 per cent and 15.5 per cent, respectively.  Hobart rec ....

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Sydney, Melbourne account for massive resale profits, data shows

Monday 07 Jan 2019

Property resales in the September quarter last year have accounted for an impressive $14 billion in profits, new data is showing, with Sydney and Melbourne unsurprisingly doing most of the heavy lifting. During the September 2018 quarter, the sheer majority of Australian property resold for a profit at 88.9 per cent, accounting for $14.06 billion in profit, according to the latest edition of the CoreLogic Pain & Gainreport. Of this profit, Sydney and Melbourne resale ....

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Google, Facebook to challenge realestate.com.au, Domain in 2019?

Friday 04 Jan 2019

One network CEO is predicting that Google and Facebook will take an even bigger interest in real estate marketing in 2019 and move more deliberately into the traditional property portal space, dominated currently by realestate.com.au and Domain. CEO at Professionals Real Estate David Crombie said that both Google and Facebook have the wherewithal to do it. “Both these organisations have significant user bases and are able to very cost-effectively target real estate consumers on a ....

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Credit, flat markets to rise in 2019, says network CEO

Wednesday 02 Jan 2019

With the royal commission mostly behind us, the banks will respond by making finance more readily available to first home buyers and investors, and a steadier flow of funding will help get some real estate markets moving again after a couple of challenging years, says Angus Raine, executive chairman, Raine & Horne. “The grey cloud of the royal commission will dissipate in 2019,” he told REB. In particular, the executive chairman expects Perth and Darwin to rebound. &ldq ....

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Capital city values continue to soften

Monday 10 Dec 2018

Adelaide remained steady last week while all other capital cities recorded value falls, latest data shows. Combined, the daily home value index fell by 0.1 of a percentage point in the week ending 9 December. Sydney, Melbourne, Perth and Brisbane repeated their declines from the week prior, falling by 0.5 of a percentage point, 0.3 of a percentage point, 0.2 of a percentage point and 0.1 of a percentage point, respectively. Meanwhile, Adelaide remained steady and saw no movement, CoreL ....

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