Real Estate Agents
Find the latest property, housing, financing & real estate news and headlines in the Australian Real Estate market from real estate agents and industry experts on Top4 News.
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First homebuyers snap up off-the-plan homes

First homebuyers snap up off-the-plan homes | Real Estate Agents | Scoop.it

KEEN first homebuyers pounced on the opportunity to beat the queue of investors and existing homeowners to secure off-the-plan homes in a new Western Sydney development.


Half of the homes in Greenacre’s Eden were snapped up today in an initial release, comprising two of the five buildings, where 191 homes were available exclusively to first homebuyers. Sam Elbanna, from CPM Realty, said the idea initiated from buyer feedback.


“First homebuyers have to go through all their homework and make sure their finances are going to be okay. A lot of them felt like they were missing out — they felt like they were almost forgotten by the market. We have these first homeowner grants but the reality is there hasn’t been a chance to use it.” Mr Elbanna said the high prices in Sydney have daunted otherwise keen first home buyers.

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Crowdfunding offers a new property path

Crowdfunding offers a new property path | Real Estate Agents | Scoop.it

With median house prices in Sydney crossing the $1 million threshold almost six months ago, it was only a matter of time before Australians embraced the concept of property crowdfunding. The idea is catching on as investors take advantage of schemes that allow them to own part of a property rather than having to raise the substantial deposit needed to get a conventional toehold on the ladder.


So how does it work? A crowd of investors raises the money for a project or investment, and rental returns and any profits from capital growth once the property is sold are distributed among the stakeholders, much like a syndicate.


The crowdfunding companies are all structured differently and have different rules and regulations so, as with any investment, it is important to pay attention to the fine print.

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Falling housing finance points to a cooling property market

Falling housing finance points to a cooling property market | Real Estate Agents | Scoop.it

The housing market is continuing to show signs of cooling with the second successive month of falling housing finance and a dramatic decline in investor lending. Overall housing related lending fell 2 per cent in October and the annual growth eased back to 8.4 per cent.


However investor lending tumbled 6.2 per cent for the month and is now 9.2 per cent down over the year. The collapse in investor appetite has been dramatic, sliding around 15 per cent in the past couple of months.


The Commonwealth Bank's Gareth Aird said the last few months of data confirm that the boom in investor lending that defined the housing credit landscape for much of the past two years is over.


The value of owner occupier loans rose 0.4 per cent in October and is now a 21.1 per cent higher over the year. The number of first home buyers slipped again, down 2.8 per cent.

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Rent-to-buy a worry for watchdog

Rent-to-buy a worry for watchdog | Real Estate Agents | Scoop.it

DESPITE warnings from WA Consumer Protection, bad rent-to-buy schemes continue to operate in Perth.


Tenants pay additional “rent” money so they can eventually buy the home. But in cases pursued by WA Consumer Protection, tenants were misled into believing they owned properties when they did not.


Despite the warnings, Perth websites still promote the schemes, offering properties in Armadale, Thornlie and Balga and promising that “you don’t need a 20 per cent deposit to move in” and can “try before you buy”. Acting commissioner for Consumer Protection Gary Newcombe said consumers should approach the schemes with caution.

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What you need to set up a real estate business

What you need to set up a real estate business | Real Estate Agents | Scoop.it

If you’re an agent working for a principal, you may have already considered setting up in business for yourself. You won’t be the first person to walk down this path, and with the new year on its way, maybe it’s time to reconsider your goals. You don’t have to do it alone, there are plenty of options out there to help you get started.


Here is a simple plan to help get you started:


  • Work out what you think your costs will be.
  • Enlist the help of others who are experts and who are trained in this area, including your accountant or financial adviser.
  • Then estimate your income, and do this very conservatively. As a starting point halve what you would normally write in gross fees just to be conservative, bearing in mind you’ll be keeping 100 per cent of your fees now.
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How to help your kids get into the property market

How to help your kids get into the property market | Real Estate Agents | Scoop.it

A recent survey by REST Industry Super found that an incredible one in three retirees in Sydney, Melbourne and Perth and one in five in Brisbane and Adelaide were looking to give their adult kids money to help them get onto the property ladder.


For most families, unaffordable housing means adult children are living with their parents for longer. 

While you may not be able to go to the lengths they have gone to, there are a number of ways you can help your children buy their first home.


Here are five ways you can give them a helping hand.

• Buy it for them

• Give them a cash gift

• Provide a personal loan

• Act as a guarantor on their mortgage

• Teach them to budget and save

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December 'sweet spot' for property buyers

December 'sweet spot' for property buyers | Real Estate Agents | Scoop.it

Sydney might have recorded its lowest auction clearance rates for 2015, but the next two weeks to Christmas would be a "sweet spot" for buyers, property agents say.


The biggest housing market had a preliminary clearance rate at 55.6 per cent and it was likely to dip lower to 50 per cent when numbers firmed up, the agents said. But popular areas such as the eastern suburbs, inner west and central business district all cleared more than 60 per cent on Saturday.


"In 24 years of selling, the No.1 month for buying is December. It's the shortest month, and motivation from both sellers and buyers would mean buyers can wrap it up for Christmas." Ray White's chief auctioneer Scott Smith said.


Only one buyer, a local family, made a bid just $2000 above the vendor's bid to secure the home despite it not meeting the reserve price of $1.5 million.

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Most affordable places in Victoria

Most affordable places in Victoria | Real Estate Agents | Scoop.it

New figures from the Real Estate Institute of Victoria show the Latrobe Valley town and neighbouring Morwell have the most affordable homes in regional Victoria, with median house prices of $155,500 and $150,000 respectively. The average median for houses in regional Victoria is $347,000.


Mr Yalden of Stockdale & Leggo Moe said the towns’ low prices, country lifestyle benefits and closeness Melbourne were attracting commuters who worked in the city and retirees downsizing from the increasingly pricey ‘burbs.


Bellarine Property director Christian Bartley said homes in the “beautiful location” were selling for high prices because stock was limited and buyer demand was high. The town has just 1400 homes and no capacity to expand further as it’s bordered by the ocean, a river and farmland.

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Melbourne’s spring auctions bonanza

Melbourne’s spring auctions bonanza | Real Estate Agents | Scoop.it

 AUCTION records are set to tumble in Melbourne as the bumper spring selling season comes to an end this week, with 1850 homes scheduled to go under the hammer. If the number is achieved, it will beat the previous benchmark for Melbourne’s biggest auction week — set in the week ending October 26 last year — by about 100, the Real Estate Institute of Victoria says.


Experts say the huge ­volume will give buyers their best opportunity to snap up a home before the year’s end, while the clearance rate would indicate if the strong market would continue into 2016.


It’s expected more than 5800 homes will go under the hammer this November, ­topping the previous monthly high in Melbourne by about 400. That figure was recorded in November last year.

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House prices on the way down

House prices on the way down | Real Estate Agents | Scoop.it

WHAT a difference a year makes on the rollercoaster ride of real estate. Heading into summer last year, many Australian capital cities were blindly surfing a wave of rising house prices and the end didn’t seem anywhere in sight.


“The latest results are now placing downwards pressure on the annual change in dwelling values. The annual rate of growth across the combined capitals index peaked at 11.5 per cent back in April 2014, and has since reduced to 8.7 per cent,” CoreLogic RP Data head of research, Mr Lawless said.


But he warned that all eyes would be on the large number of new dwellings under construction and a heightened level of settlement risk for off-the-plan purchases.

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Battle for Townsville bargains as pressure goes on buyers

Battle for Townsville bargains as pressure goes on buyers | Real Estate Agents | Scoop.it

COMPETITION is fierce between buyers chasing a bargain, with lower stock driving demand for affordable properties. According to figures from CoreLogic RP Data, there are 1458 homes for sale in Townsville below $500,000, down from 1575 this time last year.


The decrease in listings was driving competition among buyers. Tania Hector is hoping the surge in interest will continue after listing her home at 20 Browning St, Mount Louisa, for $379,000.


“Some homes are selling within a week ... all that matters is that the home is priced right. One sale I made ended up falling over, I took the home back to the market and within eight days the home had another contract on it.” North Ward Realty sales agent Troy Standley said.

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Misconceptions preventing people from investing in industrial real estate

Misconceptions preventing people from investing in industrial real estate | Real Estate Agents | Scoop.it

It was a string of coincidences that turned Lillie Cawthorn onto what she believes is the “hidden jewel” of real estate investing. Cawthorn is now a director of both an industrial property trust and industrial real estate agency, both based in Sydney, and believes it’s people’s incorrect perceptions of the sector that turn them off it.


“One of the problems is that it’s always lumped with commercial real estate. A lot of people think it’s all under the one umbrella, but there’s a lot of difference between shops and factories.” she said.


While seeking advice before making any investment decision may be a prudent decision, Cawthorn said it can be especially important when starting out in industrial real estate.

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Mackay houses taking longer to sell

Mackay houses taking longer to sell | Real Estate Agents | Scoop.it

THE time it takes to sell a Mackay house is getting longer as the number of properties on offer falls.


Real Estate Institute of Queensland data shows 2665 Mackay houses were listed for sale in the year to this August, a decrease on the previous year when 2770 were on the market.

 

The average vendor discount on Mackay houses changed from 9.1% in 2014 to 11.4% in 2015. The average percentage of profit making resales fell dramatically over the 12 months from 78% in 2014 to 62% in 2015. 


Profit making resales are where a home is bought and then resold within 12 months for a profit. Vendor discount refers to the difference between the price a property sells for and the price it was first advertised at when it was put on the market.


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When buying is cheaper than renting

When buying is cheaper than renting | Real Estate Agents | Scoop.it

SMALL apartments in Carlton and Melbourne’s CBD could be rent-making machines for investors, as new data shows it’s cheaper to buy than lease one-bedroom units in the suburbs.


Research from the Real Estate Institute of Victoria shows buyers could repay a mortgage on a median-priced single-bedroom home in the suburbs for substantially less than it would cost to rent the same property — also making them ideal for first-home buyers.


But while the figures indicate units in these areas could be goldmines for investors seeking rental income, experts say capital growth gains are typically less fruitful in inner-city Melbourne due to an apartment glut.

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Property investor loans plunge in October

Property investor loans plunge in October | Real Estate Agents | Scoop.it

The steam is clearly coming out of the housing market, thanks to a sharp decline in the level of investor lending. Loans approved for investment housing were down 6.1 per cent in October, based on their value, while approvals for owner-occupied housing rose 0.4 per cent.


Macquarie Group head of Australian economics James McIntyre said the value of loans that's been approved to investors is now the weakest since June 2014.


"There's been a really big swing in investor participation in the market, particularly since it peaked in April this year, in just three months it's down close to 15 per cent.

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Property market’s shameful secret

Property market’s shameful secret | Real Estate Agents | Scoop.it

ASPIRING homeowners and victims of urban sprawl, prepare to be outraged. A new report offers an infuriating insight into what’s going on inside the houses that city fringe-dwellers are clamouring to get their hands on, and the answer is nothing at all.


Data analysed in a new report indicates about one in five investor-owned properties in Melbourne are unoccupied. The 2015 Speculative Vacancies Report analysed water consumption in Melbourne households, and classed those with abnormally low water consumption — a daily amount less than that used by a leaky tap — as speculative vacancies.


Karl Fitzgerald, project director at Prosper Australia, the think tank that produced the study, explained the figures indicated a shameful oversupply of unused housing that had dire effects on prospective homeowners and renters.


“The frustrating thing for the market is that any vacant housing can skew the supply and demand.” Chris Eves, Queensland University of Technology property economics professor, said.

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Big deals keep on rolling

Big deals keep on rolling | Real Estate Agents | Scoop.it

The commercial property market is poised for another bumper year as increasing business confidence drive investors. Shopping centres, office towers, development sites and industrial assets have all recorded bumper results during the year.


JLL head of retail Simon Rooney said competition between domestic and offshore buyers  would continue to be fierce next year.


The push to  ever-denser retail and residential projects in the suburbs is likely to have an impact on industrial development. Savills national head of research, Tony Crabb, said the growing population would create demand "for more logistics, more storage space and more places for manufacturing". Mr Crabb, who is also industrial spokesman for the Australian Property Institute, said industrial businesses have already been displaced from the inner suburbs and would be pushed out further.

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First home buyers forced to turn to parents to enter the Sydney property market

First home buyers forced to turn to parents to enter the Sydney property market | Real Estate Agents | Scoop.it

More and more first home buyers are being forced to rely on their parents to lend them a hand in order to get into Sydney’s property market, as the “Australian Dream” of owning a home becomes increasingly unattainable.


New research by Rate City has revealed one in seven Generation Y’s need three incomes to afford the repayments on their mortgage. About one in 20 first home buyers receive money from a parent or grandparent to help them get onto the property ladder, with the average gifted amount about $13,500.


From January this year, it is set to become even more difficult for first time buyers when the first home buyers grant drops from $15,000 to $10,000.

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Hopes of selling go back to basics

Hopes of selling go back to basics | Real Estate Agents | Scoop.it

HOMES with water views might net a million-dollar return, but practical features such as a double lockup garage and a short commute to work make more buyers happy to fork out thousands extra. Almost three-quarters of West Australians would be happy to pay more for a property with a double lockup garage, according to Westpac’s What Aussies Look For in a Home report.


WA buyers are prepared to pay an extra $13,600 for a home with a double garage and $23,190 more for a property with a short commute to work. More than 50 per cent of buyers also considered privacy from neighbours a top priority.


Willagee sales agent Siobhan Micale said buyers preferred renovated homes to run-down bargains.

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Sydney's top 10 suburbs that will grow in property value in 2016

Sydney's top 10 suburbs that will grow in property value in 2016 | Real Estate Agents | Scoop.it

SYDNEY’S real estate market may finally have slowed down after three years on the boil, but experts predict there is still plenty of life left in certain parts of the harbour city. In his latest hotspot prediction, Starr Partners CEO Douglas Driscoll has named 10 suburbs from all corners of the greater Sydney area that he believes will blossom in 2016.


2016 Hot Spots:

• Leppington, St. Marys, North Sydney, Baulkham Hills, Auburn, Hornsby, Camperdown, Riverstone, Botany, and Dee Why.


“More rezoning will occur throughout 2016 so Leppington will become popular for land sales,” Mr Driscoll said. “Being south of Badgerys Creek, I anticipate it to be the next suburb to genuinely emerge. It will be close enough to the new airport but far away enough from it that plane noise won’t be an issue.”

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Adelaide bucks trend with highest house price growth in nation

Adelaide bucks trend with highest house price growth in nation | Real Estate Agents | Scoop.it

HOME values have started to fall in Sydney and Melbourne as the period of extraordinary price growth in the southern states begins to cool. But Adelaide has bucked the trend with the highest growth in the nation. Prices rose by 0.7 per cent in November, bringing the median dwelling value to $410,000.


The poor monthly results for most of the nation mean that dwelling values across the combined capital cities is now 1.5 per cent lower than it was last month. CoreLogic RP Data head of research Tim Lawless, said the slower housing market conditions for Sydney and Melbourne had started earlier this year and had continued.


“That will be the real test of the market place, what do we see in December and January.’’ he said.

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Home ownership is stressing us out

Home ownership is stressing us out | Real Estate Agents | Scoop.it

Financial gurus have long pinpointed 30 per cent as the magic number when it comes to mortgage stress. In other words if you’re handing over more than 30 per cent of your income to service a home loan, then your bank balance is “stressed”. According to an industry study out today, Australians are on average forking out 31.7 per cent of their median weekly family income on mortgage repayments.


“Unfortunately, housing became less affordable during the third quarter of 2015 largely due to the increasing size of new loans,” said Neville Sanders, REIA President.


The affordability study was released in the same week as the RBA decided to keep interest rates at two per cent after its last meeting for 2015 and just days after a CoreLogic RP Data report showed Australian dwelling prices were actually falling in five of the country’s eight capital cities.

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Property experts dismiss the housing market is on a decline

Property experts dismiss the housing market is on a decline | Real Estate Agents | Scoop.it

Property experts were unperturbed by the fall in dwelling values in Sydney and Melbourne in November, dismissing the idea the property market is on a steady decline.  Despite prices falling 1.4 per cent in Sydney, and 3.5 per cent in Melbourne, according to Corelogic RP Data, experts maintained the two main markets would continue to grow in 2016, albeit slower than the last two years.


"Sydney has slowed down and there are parts of the city which will see falls from the crazy June quarter, but that's not the entire market, Overall, I think it is a mixed property market and nothing released today has changed my view on this." SQM Research's Louis Christopher said and held on to his predictions of 4 to 9 per cent growth for Sydney and 8 to 13 per cent for Melbourne in 2016.

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Home value fall starting

Home value fall starting | Real Estate Agents | Scoop.it

HOME values have started to fall in Sydney and Melbourne as the period of extraordinary price growth in the southern states begins to cool. The two powerhouse markets weren’t the only ones to experience a drop in property values with the latest CoreLogic RP Data November home value index revealing a drop in values in five of the eight capital cities in Australia during November.


CoreLogic RP Data head of research Tim Lawless, said the slower housing market conditions for Sydney and Melbourne had started earlier this year and had continued. Values fell the most in Melbourne, where they were down by 3.5 per cent in November, Sydney values were down by 1.4 per cent.


“That will be the real test of the market place, what do we see in December and January.’’ Mr Lawless said. He warned the changing market could also result in future problems for buyers purchasing off the plan.

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Simple supply and demand will decide what happens next to Sydney house prices

Simple supply and demand will decide what happens next to Sydney house prices | Real Estate Agents | Scoop.it

So here's a radical idea: what happens next to Sydney's property prices will depend largely on the balance between housing supply and demand. An entire industry exists to generate predictions to satisfy Australia's property obsession. Sounds simple enough. But it's not always been the case.


Over the past 30 years, national housing prices have risen by an average of 7.25 per cent a year. But it has not been uniform. Price growth has undergone three distinct periods. Timing, as always, is crucial when it comes to playing the property investment game.


Economist Saul Eslake says it is possible that house prices, in dollar terms, will be lower in two or three years than they are today. But barring any dramatic rise in the jobless rate, there is no trigger for an immediate wave of forced sales. Most home owners will simply stay put until the market picks up, reducing the supply of properties on the market.

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