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Lending remains at historic highs with market stabilising - REIA

The latest ABS figures remain within a historical high range but reflect a stabilising market Real Estate Institute of Australia (REIA) President, Hayden Groves said.

National

The Economy

REIQ downplays RBA interest rate hike

REIQ confident in resilience of Queensland market- following first interest rate hike in over a decade

National

People

RE/MAX Australia recently held its inaugural Diamond Event

RE/MAX Australia held its inaugural Diamond Event with invitations extended exclusively to the network’s 24 Diamond, seven Double Diamond and sole Triple Diamond achievers. Managing Director, Joel Davoren, said he introduced the event to provide an opportunity to foster sharing and collaboration among the elite group.

National

The Economy

Higher interest rates likely to add further downwards pressure on housing growth rates - CoreLogic

The RBA has acted to curb high inflation by lifting the cash rate target today, moving from the emergency lows of 0.1% to 0.35%, an increase of 25 basis points.

National

The Economy

Nine things to consider as interest rates rise - Ray White

Nerida Conisbee, Ray White Group Chief Economist looks at the things that we all need to remember at a time of rising interest rates.

Victoria (Vic.)

People

Richard Simpson elected new REIV President

The Board of the Real Estate Institute of Victoria (REIV) has elected respected real estate agent Richard Simpson as its President, through to October 2022.

Victoria (Vic.)

The Economy

Geelong tops the list for pandemic driven population growth - Ray White

The latest data on population growth by small area from the Australian Bureau of Statistics (ABS) now provides us with deeper insight into the areas that attracted the most people since the first lockdown in March 2020.

Western Australia (WA)Perth

The Economy

Perth home values increase again in April - REIWA

April was another strong month for the Perth property market, with CoreLogic data showing the Perth home value index increased 1.1 per cent during the month.

The Economy

National Home Value Index Released - CoreLogic

CoreLogic’s Home Value Index continues to lose steam as the case for higher interest rates mount.

National

People

Propic acquires Property Realm to create world’s most intelligent AI platform in real estate

Australian real estate PropTech innovator, Propic, today announces its acquisition of Property Realm in a move it says will “unapologetically disrupt” the real estate industry by automating up to 80% of property manager’s maintenance tasks and inbound inquiries with human conversation-style Artificial intelligence (AI) capabilities.

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News Roundup

https://www.afr.com/news/world/europe/london-mandarin-oriental-hotel-fire-draws-120-firefighters-to-luxury-venue-20180606-h112hr

London Mandarin Oriental Hotel fire draws 120 firefighters to luxury venue

More than 100 firefighters have tackled a blaze at a luxury hotel in central London that produced thick black smoke visible for miles around and required people inside to evacuate the building.

The Australian Financial Review

https://www.brisbanetimes.com.au/national/queensland/council-has-grave-concerns-for-new-queen-s-wharf-pathway-20180605-p4zjmn.html

Council has 'grave concerns' for new Queen's Wharf pathway

Hundreds of cyclists and pedestrians will be forced to battle for space under a new bikeway design for the Bicentennial Bikeway within the Queen’s Wharf Brisbane development.

Brisbane Times

https://www.theage.com.au/business/banking-and-finance/fall-in-house-prices-is-quite-a-bit-larger-than-expected-says-anz-20180606-p4zjr9.html

Fall in house prices is 'quite a bit larger' than expected, says ANZ

ANZ Bank has warned the pace of decline in Australia's house prices is "quite a bit larger" than expected, and likely to last longer than it previously forecast.

The Age

https://www.canberratimes.com.au/politics/act/canberra-s-first-home-buyers-could-soon-broaden-their-horizons-20180606-p4zju7.html

Canberra's first home buyers could soon 'broaden their horizons'

Canberra's first home buyers could soon look to established suburbs to enter the property market, industry figures say, as the ACT Government moves to abolish stamp duty and the first home owners grant.

Canberra Times

https://www.afr.com/real-estate/harry-triguboff-pours-cold-water-on-buildtorent-tax-break-push-20180604-h10yoy

Harry Triguboff pours cold water on build-to-rent tax break push

Harry Triguboff, the country's biggest owner of rental apartments, said developers such as Lendlease, Mirvac and Stockland wanted a low-tax vehicle to invest in build-to-rent housing because they were trying to drum up capital at a time of harder access to funds.

The Australian Financial Review

https://www.smh.com.au/national/nsw/reopening-of-a-sydney-landmark-to-be-decided-in-court-20180602-p4zj2j.html

Reopening of a Sydney landmark to be decided in court

A stoush over a derelict motel on Sydney's northern beaches is heading to court, with some residents determined to stop the site’s owner from opening a restaurant and boutique hotel.

Sydney Morning Herald

https://www.canberratimes.com.au/politics/act/act-budget-stamp-duty-scrapped-for-first-home-buyers-from-next-july-20180604-p4zjbw.html

Here's how rates will change for every suburb in Canberra next year

About 48,000 houses and 39,000 units will see their general rates increase by $100-$150, while around 28,000 houses and 3200 units will have an increase of between $150-$200.

Canberra Times

https://www.watoday.com.au/business/banking-and-finance/desperate-people-do-desperate-things-loan-fraud-alleged-at-giant-20180605-p4zjm6.html

'Desperate people do desperate things': loan fraud alleged at giant

The crisis at Mortgage Choice is deepening with documents emerging that show almost half its brokers are considered "low performers" for failing to meet the loan giant's controversial sales targets.

WA Today