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REIV responds to State Government consideration of rental caps and restrictions

Real Estate Institute of Victoria CEO, Quentin Kilian, has provided the following statement today as the Victorian Government has indicated, via a media release, that it is considering both restricting the range of a rental increase and banning a rental provider from applying a rent increase any more than once every two years.

National

The Economy

Combined clearance rate declines three weeks in a row but remains above 70% - CoreLogic

The combined capitals saw 1,729 homes taken to auction this week, returning a preliminary auction clearance rate of 70.7%.

National

The Economy

Rental crisis starts to ease

According to Nerida Conisbee, Ray White Chief Economist, after seeing the biggest jump in advertised rents ever recorded, we are finally starting to see the rate of increase start to slow.

National

The Economy

East or West? Australia’s best place to invest - CoreLogic

Research Director Tim Lawless examines the differences between Perth and Sydney when it comes to property investing, and why NSW has the highest proportion of investors despite the high buy-in entry point and low rental yields.

New South Wales (NSW)Sydney

People

Megan Thomas joins Belle Property Mosman

Belle Property announce the addition of experienced local real estate professional, Megan Thomas, to the Belle Property Mosman team.

The Economy

John McGrath – EOFY market wrap & what’s in store for FY24

According to John McGrath, Chief Executive Officer of McGrath Estate Agents, the market correction we experienced during FY23 was both short and sharp, with Australian home values returning to growth much earlier than expected.

Victoria (Vic.)

People

Barry Plant expands to Yarra Glen tourist hot spot

Award-winning local girl Sarah Savio heads up newest Barry Plant office in the booming tourist and wine region of Yarra Glen in Victoria is a logical business move for the owners of the nearby Barry Plant Croydon. Sarah Savio, as the Yarra Glen branch manager, is the natural choice for the role, according to co-owners Matt Jinks and James Brougham of Barry Plant Croydon.

National

The Economy

Wave of investors selling - up to 30% of the market says Ray White Group

The combination of investors coming to market and strong demand from home buyers created the perfect storm for activity at Ray White auctions today. Australasia’s largest real estate group scheduled 316 auctions on Saturday, recording a preliminary auction day clearance rate of 78.9 per cent, an average of 4.2 registered bidders and 3.0 active bidders at its auctions this weekend.

Queensland (Qld)Brisbane

People

Coronis Group opens another Franchise in the Bayside led by Katie Daunt

Under the visionary leadership of CEO Karuna Mazzocchi, Coronis is making bold strides in the real estate industry by unveiling a strategic expansion plan through the establishment of new franchises across the nation.

Queensland (Qld)Brisbane

The Economy

Green shoots emerge in Queensland’s rental vacancy rates

The Real Estate Institute of Queensland (REIQ) says consecutive lifts in the state’s quarterly residential vacancy rate is a promising sign that rental conditions are improving.

Pages

News Roundup

https://www.thehotelconversation.com.au/news/2019/07/23/da-approved-hotel-australia%E2%80%99s-world-famous-blue-mountains/1563857792

DA Approved Hotel for Australia’s World-Famous Blue Mountains

Blue Mountains Hotel Development Site for sale through HTL Property Asia Pacific Director Andrew Jolliffe.

The Hotel Conversation

https://www.theindustrialist.com.au/news/2019/07/23/booming-brisbane-suburb-serves-85-million-industrial-deals/1563840407

'Booming' Brisbane suburb serves up $8.5 million in industrial deals

Ray White Industrial Milton has taken advantage of the growing Wynnum precinct by sealing five separate deals in the last year, totalling more than $8.5 million combined.

The Industrialist

https://www.commo.com.au/news/2019/07/23/jll-appointed-manage-sydney-trains-property-footprint-nsw/1563850988

JLL appointed to manage Sydney Trains property footprint in NSW

Global property services firm, JLL has been appointed as the Property Manager for the Sydney Trains portfolio.

COMMO

https://www.thehotelconversation.com.au/news/2019/07/22/museum-and-art-gallery-northern-territory-announces-mantra-official-accommodation

Museum and Art Gallery Northern Territory announces Mantra as Official Accommodation Partner

The Museum and Art Gallery of the Northern Territory (MAGNT) is proud to announce Mantra Hotels, now part of Accor, as their Official Accommodation Partner.

The Hotel Conversation

https://www.theaseandeveloper.com/news/2019/07/22/continued-confidence-whitsunday-coast-shown-through-43-million-retail-expansion

'Continued confidence' in Whitsunday coast shown through $4.3 million retail expansion

The Pavillion Arcade at Airlie Beach is in the midst of a $4.3 million expansion, just over two years after Cyclone Debbie hit the region.

The Asean Developer

https://www.commo.com.au/2019/07/22/wework-signs-new-location-sydney/1563756637

WeWork signs new location in Sydney

WeWork is set to further expand its Sydney presence after securing approx. 11,000sqm of space at 320 Pitt Street in a 12-year leasing deal negotiated by the exclusive agents, JLL and Knight Frank.

COMMO

https://www.thehotelconversation.com.au/news/2019/07/17/publicans-should-tap-depreciation-deductions/1563332459

Publicans should tap into depreciation deductions

"When arranging a depreciation schedule for a pub, a specialist quantity surveyor will perform a site inspection to uncover all available deductions," BMT Tax Depreciation

The Hotel Conversation

https://www.commo.com.au/news/2019/07/16/wa-rebound-according-ray-white-report/1563256975

WA on the rebound, according to Ray White report

While there is still some way to go in the recovery of the Perth office market, many opportunistic investors including private funds will look to capitalise on competitive investment yields, particularly given the historically low-interest rate environment.

COMMO