Archive for November, 2008
Thursday, November 20th, 2008
We are starting to see some good news filtering through which is a change from the doom and gloom of the last six months. The Commonwealth Bank Economist is predicting 3% interest rates by June 2009 which should move investors back into the property market. The Reserve Bank Governor Glenn Stevens was also reported as saying that house prices will not crash in Australia.
Economist tips 3% interest rate Gold Coast News, Australia - 5 hours ago “The demand for real estate, commercial property, government expenditure will be higher,” said Mr Blythe, who was guest speaker at a Property Council of …
Sunland looks past Dubai horizon The Australian, Australia - 7 hours ago … a residential site at Royal Pines resort on Queensland’s Gold Coast, buying the land for a $200 million housing project from Morgan Stanley Real Estate. …
House prices shouldn’t crash: RBA chief Ninemsn, Australia - 9 hours ago … then returning hours later to steal her belongings … read more Double whammy Greg Norman’s bank balance hit again — this time by the US real estate …
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Wednesday, November 19th, 2008
Ugly Ducklings are best Oz property buys
Homes Worldwide, UK - 5 hours ago
Real estate investors, in particular first home buyers, are being urged to target Australia’s cheap ‘Ugly Duckling’ locations, poised to evolve into future …
Millionaires factory keeps smiling
Sydney Morning Herald, Australia - 6 hours ago
The real estate and banking and financial services divisions actually turned in a loss. The latter two and the division responsible for Macquarie’s listed …
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Listed investment companies perform in downturn
The Australian, Australia - 6 hours ago
… diversified financials (Gowings Bros followed by Perpetual), utilities (AGL and then APA Group), real estate (Lend Lease and Mirvac), as well as Amcor, …
Investors eye Australian property
Homes Overseas, UK - 6 hours ago
“Safe havens like residential real estate,” Mr Collishaw said. “Certainly in Sydney suburbs such as Rhodes (in the inner west) and Chatswood on the north …
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Monday, November 17th, 2008
MARKET TRENDS
Low end coming out on top amid turmoil
The Age - Melbourne,Victoria,Australia
Wary investors this week will be looking for encouragement from the Washington G20 summit, and for clues from the Reserve Bank about a likely interest rate …
Real estate investors brace for wild ride
Sydney Morning Herald - Sydney,New South Wales,Australia
INVESTORS in real estate investment trusts are in for another roller-coaster week, which starts today with the annual meeting of Goodman Group. .. |
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It is not all doom or gloom
NEWS.com.au - Australia
The Real Estate Institute of South Australia said property transactions have fallen almost 22 per cent compared to the same time last year, …
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RAINE & HORNE
Retailers line up city heart
Gladstone Observer - Australia
An advertisement for the proposed complex issued by Linear and handling agents Raine and Horne shows a conceptual plan of the site with the supermarket on …
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Friday, November 14th, 2008
The second instalment of the strategic decision over the realestate.com.au NZ portal has emerged today. Realestate.com.au (REA) Group and Realestate.co.nz Ltd have formed an alliance that will see traffic directed to realestate.co.nz. This will see the REA residential portal, allrealestate.co.nz, shut down after the 30th of November 2008.
The alliance gives realestate.co.nz access to all who use the REA Group’s international network of real estate websites.
Realestate.com.nz is fifty percent owned by the NZ Real Estate Institute.
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Friday, November 14th, 2008
Realestate.com.au announced yesterday that it was closing its New Zealand real estate portal from the 30th of November.
New Zealand is a small but tough competitive market with some existing and established players. The Institute backed allrealestate.co.nz will benefit from the closure.
The decision is probably prudent financially however the release does not explain the strategic context.
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Friday, November 14th, 2008
MARKET
Consumer sentiment lifts on lower interest rates, petrol prices
Business Spectator - Melbourne,Victoria,Australia
SYDNEY - A key measure of Australian consumer confidence edged up from deep lows in November as sharp falls in interest rates and petrol prices lessened a … No action at auction
Gold Coast News, Australia - 5 hours ago
Real estate sources have reported very poor attendances at both auctions and open houses across the Gold Coast. Reductions in interest rates and government …
INDUSTRIAL RELATIONS
Workplace Ombudsman shines spotlight on food retailers in run-up …
Australian Food, Australia - 17 hours ago
The top 10 industries for the Workplace Ombudsman are currently cafes and restaurants, real estate agents, security and investigative services, pubs, …
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Thursday, November 13th, 2008
REAL ESTATE
Foreign investment at record level in Queensland
Property Wire, UK - 10 hours ago
“One of the first steps for foreigners to buy Australian property, be it residential real estate, built commercial property valued at $AUD50 million or more …
Townsville house prices fall
ABC Regional Online, Australia - 19 hours ago
House prices are dropping in Townsville amid predictions real estate prices in some capital cities will fall 10 per cent this financial year. …
PAMDA DECISION
Client Update: Real Estate – 12 November 2008
Allens Arthur Robinson - 12 hours ago
In brief: A Supreme Court of Queensland decision, handed down on 29 October 2008, highlights the complexity of the Property Agents and Motor Dealers Act …
ECONOMY
Australian banks expected to sack staff
The Australian, Australia - 4 hours ago
Macquarie Group, Australia’s largest investment bank, has put 600 property and real estate bankers on notice that jobs will be slashed across that division. …
Stockland launches raid on rival
Sydney Morning Herald, Australia - 6 hours ago
STOCKLAND has struck the killer blow in the latest round of rationalisations in the beleaguered real estate trust sector with a raid on rival GPT’s register …
We’ve reached the bottom: Satterley
WA Business News (subscription), Australia - 12 hours ago
… previous quarter and 6 per cent lower than a year earlier. Perth’s median house price has fallen to $426000, according to the Real Estate Institute of WA.
RAINE & HORNE
Waterfront properties for less than $1m
FatCat, Australia - 4 Nov 2008
Houses are generally over $1 million apart from Hervey Bay, where Raine & Horne’s Graham Cockerill says you’ll find two and three-bedroom waterfront homes …
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Wednesday, November 12th, 2008
REAL ESTATE
Premium suburbs bear brunt as real estate market reels
The Age - Melbourne,Victoria,Australia
Figures from the Real Estate Institute of Victoria show that Melbourne’s inner-east is the most heavily punished region, with prices for four-bedroom houses …
your money’s safe as houses
The Australian - Sydney,Australia
Building reports need to be ordered to ensure you know what else has to be spent on a property, and the expenses of using real estate agents should also go …
Watch out for bricks and mortar fire
Sydney Morning Herald - Sydney,New South Wales,Australia
Real estate agents report that inquiries in the area for properties under $300000 have doubled thanks to the extra FHOGs. But in the medium price range …
RAINE & HORNE
Pennants victory to Lithgow golfers
Lithgow Mercury - Lithgow,New South Wales,Australia
A very special thank you to Tina and Dave Hando at Raine and Horne Real Estate for their continued sponsorship; it is greatly appreciated. No comments yet. …
INTEREST RATE ISSUES
Residential property prices fall in September quarter
Money Management - Australia
“Downward pressure on prices in the quarter was largely a result of the 7.25 per cent interest rate level before the Reserve Bank’s first rate cut in …
No Huge Savings in Switching to a Variable Rate Home Loan
Money AU - Sydney,Australia
It does also provide protection from when interest rates rise. Though it is hard to see that happening for at least the next year anyway. …
Home loans continue to slide
Melbourne Herald Sun - Australia
NEW home loan approvals in Australia have fallen to their lowest level in more than seven years. However, there is no certainty that further interest rate …
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Wednesday, November 12th, 2008
The troubled NSW economy could spawn a wave of “economic refugees” keen to pursue job opportunities and flattening house prices in South-East Queensland.
RP Data’s research director, Tim Lawless, said NSW was going through a “rough patch”, with the highest state unemployment rate in the country.
Tim Lawless, RPdata, was quoted in an interesting article in the BrisbaneTimes this morning.
Lawless said “I wouldn’t be surprised if there was a rise in interstate migration coming into Queensland,”
Historically, people moved to Queensland from the southern states because of differential property prices, but these have largely evened out, he said.
But the Sunshine State still offered attractive employment opportunities, particularly in the resources sector.
This is just another factor to add to the current real estate climate for Queensland if it happens. I hope the State Government infrastructure planning improves over the next five years.
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Tuesday, November 4th, 2008
If any property professional is not sure, or hesitant about fully embracing Auctions as the most effective property marketing strategy for the current Queensland market… read Sharon Saul’s comments below.
Stephen…As you are aware we are holding an outside broadcast with Kevin Turner at our office on Saturday 6 December. We have co-ordinated this with an auction event to be held on the day. To date we have 8 auctions happening on the day and also 1 on the Sunday(due to religion). The entire team is very excited about this.
By the way, yesterday we had an auction in Raby Bay – 42 Sommersea Dve – it sold under the hammer! First home in Raby to sell in 8 weeks! We had 8 registered bidders and it was great!
If any office in the network is in doubt as to how to handle this market–AUCTION!
Congratulations to Sharon, Craig and Graham and the team at Cleveland… they really are gaining tremendous market share and have carved out a real place for Raine & Horne in the Redlands.
If you have a great property story send it to me, as others are always interested ssharry@rhq.com.au
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