Industry News

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  • Elite Agent The News Source for Real Estate Professionals

    NSW Government looking to continue to reform residential tenancies law

    The NSW Government is getting set to continue the overhaul of the current Residential Tenancies Regulation, with the aim of improving the renting experience in NSW. The proposed amendments are set to have a major impact on the way both sales agents and property managers interact with current tenants. As a little history, in October…

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  • Elite Agent The News Source for Real Estate Professionals

    The Agency delivers strong results

    The Agency Group has bucked the trend by delivering a strong June Quarter 2019 including top results in key areas, despite the lingering property market downturn. The company reported its busiest quarter on record in some areas, with a nine per cent jump in number of exchanges to 674, and its highest number of properties…

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  • Queensland leads the way in market recovery

    Demand has started to increase in the property market on the back of the recent federal election results and interest rate cuts, with Brisbane and Mackay in Queensland leading the road to recovery. REA's Property Outlook for July has revealed the "ScoMo bounce" and two interest rate cuts were breathing new life into Australian property,…

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  • Elite Agent The News Source for Real Estate Professionals

    Housing affordability best since 1999

    Housing affordability is the best it's been in 20 years, according to the latest HIA figures. HIA Senior Economist Geordan Murray said the figures, gathered from the HIA Affordability Index for the June 2019 quarter, are thanks to a combination of lower home prices, improvements in wage growth and lower interest rates. “For a home buyer…

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  • REINSW 2019 Awards for Excellence finalists announced

    The Real Estate Institute of New South Wales (REINSW) has announced the finalists for its annual Awards for Excellence. Now in its 22nd year, the Awards for Excellence is the largest and most respected industry awards in NSW and recognises the best, bravest and brightest work across the industry. REINSW President, Leanne Pilkington, said the…

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  • Ray White’s innovative Apartment Collective reinvigorates the auction process

    An innovative new auction approach has earnt a huge tick of approval from both buyers and sellers and is set to shake up the way the industry approaches older stock. Ray White’s recent Apartment Collective, an initiative to rejuvenate older stock has been hugely successful, selling 12 properties with a combined value of over $6…

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  • APRA Lending guidelines and income tax cuts provide welcome confidence boost

    The Property Council of Australia has welcomed the softening of residential mortgage lending guidelines and the Government's income tax cuts, noting the initiatives provide a welcome shot of confidence for the property sector at a critical time for the Australian economy. Responding to APRA's decision last week to remove the 7 per cent interest rate…

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  • Variable mortgage rates fall below 3 per cent following RBA’s second consecutive cut

    Variable mortgage rates in Australia have hit a new low following the historic decision by the Reserve Bank of Australia to cut the cash rate to 1 per cent. Late this afternoon, RateCity.com.au confirmed Reduce Home Loans was among the small lenders embracing the latest cut, slashing its lowest rate by 0.20 per cent to…

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  • Now is the time for that annual insurance review: Sharon Fox-Slater

    A new financial year has dawned and chances are you're busy setting some fresh business goals while gathering all your paperwork for your tax agent. While reviewing the insurances on your RE business might not be at the top of your list, now just might be the best time to do so. Many small business…

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  • CEO warns real estate industry has reached its ‘technology intersection’

    Douglas Driscoll, CEO of award-winning real estate group Starr Partners, believes the real estate sector has reached its ‘technology intersection’. While innovation enables agents to automate and digitise their processes, he says it poses problems for an industry that needs to learn how to strike a better balance between implementing cutting-edge technologies and retaining the right…

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  • Property prices start to recover in Sydney and Melbourne

    There are some positive signs for property prices on the East Coast as both Sydney and Melbourne have posted monthly gains for the month of June. Values in Australia’s two major housing markets were up 0.2 per cent in Melbourne and 0.1 per cent in Sydney for the month, according to the latest figures from…

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  • Ray White Commercial NSW welcomes two new recruits

    Ray White Commercial NSW – Sydney City Fringe has welcomed two new recruits to the team. Lachlan Palm has joined as a Sales and Leasing Associate and Fiona Farmer has taken up the role of Office Manager, and both will based out of the Sydney City Fringe office in Glebe. Mr Palm, who made the…

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  • Insurance crisis threatens construction sector

    An impending insurance crisis risks bringing the construction sector to a halt unless Commonwealth, state and territory governments can work together to resolve the issue. The Property Council of Australia has called for an industry roundtable on resolving the insurance crisis, as many building and construction businesses face closure over the issue. They said it…

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  • Tom Esze hammers it home to take out REIWA’s Auctioneering Championships

    Tom Esze from Tom Esze Auctions has taken out the Gift of the Gavel at the annual REIWA Auctioneering Championships this week. Held at the Wembley Golf Course, the 2019 championships showcased Western Australia’s best talent in the auction space under two categories – novice and senior. REIWA President Damian Collins said as auctions continue to…

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