Archive for the ‘Industry trends’ Category
Tuesday, March 31st, 2009
Paul Newall, Raine & Horne Financial Services, advised yesterday of some changes in Bank policies that may severely limit any upturn in the property resale market.
It is no secret that the current market is attempting a very slight upturn driven from the bottom end predominently fuelled by the First Home Buyer (FHB) boost. Approximately 40% of all sales last month were to FHB, with 12,500 subsidy applications received, by the Federal Government, in February. Investors accounted for approximately 10% of purchases.
Many FHB’s have taken advantage of lending policy that has allowed loans of 100% and 95% of valuation. Last week RAMS removed the 100% loan leaving the St George Bank as the main lender still offering 100% loans. The major banks who offer 95% loans are now insisting on proof of saving over a period of 3 to 6 months. Further it is rumoured that some banks will reduce their lending policy to 90% of valuation. This will effectively neutralise the FHB Boost and stop the market in its tracks.
The fact that the banks and many consumers do not take accout of is the very high cost of rent today. After paying the highest rents Australia has ever seen there is not much left for many FHB to use to save. The Banks have to recognise this and view a good rental payment history as a major contributor to the loan application.
The major Banks, who largely caused the Global Financial Meltdown, are now at risk of worsening the situation just so that they can improve their balance sheets and stock price and the Federal Government and Reserve Bank do not seem to be doing anything.
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Posted in Uncategorized, Housing affordability, Sales, Industry trends | Comments Off
Thursday, March 19th, 2009
It is in times of hardship that the real value of a brand shines through. Raine & Horne is a well respected and very special brand to be privileged to be a part of. As Angus Raine keeps saying “we are now 126 proud years of age”.
Raine & Horne has seen good times and not so good times, has weathered each storm, learnt from the experience, and is still here providing real estate services of a very high quality. It also says a lot where the family still own the business with Max and Angus Raine still running the company.
With an international network and offices in every state and Territory in Australia the Raine & Horne brands, Residential, Commercial, Rural, Valuations and Financial Services provide a full range of property services.
When we look around the world at Corporate Icons falling from grace it is a good feeling to be a part of a group that is so proud of its heritage. Raine & Horne and all who form a part of the delivery of its services must jealously protect and guard the brand by providing ethically driven services with a high level of customer service.
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Posted in Uncategorized, Marketing, Industry trends, Property market, Franchising | Comments Off
Thursday, March 12th, 2009
It would appear that the trials and tribulations of Suncorp who own LJ Hooker may have filtered down into the real estate group.
This week saw the rumoured departure of CEO Warren McCarthy and GM Angelo Nicholson although the media LJH media march 2009.pdf statement put out on wednesday states they have both taken leave and that Alan Lambert is assuming their responsibilities.
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Posted in Management, Industry trends | Comments Off
Thursday, March 5th, 2009
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The property market is showing signs of more and more activity with Raine & Horne Financial Services Director, Paul Newall, reporting that in February;
· 40% of loans were to first home buyers and
· importantly investors went from close to nil to 10% of loans in a month.
· Commercial loans are increasing and
· A huge number of loan pre-approvals are in process
We are now seeing first home buyers competing with investors in the under $500,000 market with particular activity in the under $400,000 segment. February was a record for RHFS and March is continuing the trend.
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Posted in Uncategorized, Housing affordability, Marketing, Industry trends | No Comments »
Monday, March 2nd, 2009
Simon Baker`s blog Propertyportalwatch.com has announced the rumoured departure of Australian CEO, Jamie Pride, from Realestate.com.au. Jamie commenced in April of 2008 and was appointed as Australian General Manager by the previous CEO, Simon Baker. Simon Baker was replaced by Greg Ellis, as CEO, in August 2008. At some point the title Australian CEO was introduced to replace the GM tag. The departure of Pride comes after the REA Group notification on February 18th that Daniel Oertli has been appointed as its new Chief Information Officer.
The departure of Pride may herald some major structural changes in the way REA operates in Australia. Maybe the current increase in traffic to Domain.com.au may be cauing some angst in the REA Group.
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Posted in Uncategorized, Marketing, Industry trends | No Comments »
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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Posted in Industry trends, Daily Update | Comments Off
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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Posted in Marketing, Technology, Industry trends | Comments Off
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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Posted in Marketing, Technology, Industry trends | Comments Off
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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Posted in Marketing, Sales, Industry trends, Property market | Comments Off
Thursday, October 23rd, 2008
On Monday night I attended the launch of the REIQ book “Deeds, Dreams and Dedication”. The book was written by Gary McKay and celebrates the 90th anniversary of the REIQ. Gary is a well known author with many titles including “All Guts and Glory” and “Delta Four”.
The MC for the evening at Customs House was REIQ CEO Dan Molloy. Chairman Peter McGrath introduced the Governor, Penny Wensley, who launched the book in fine style. Her Excellency had obviously read the book and quoted from many of the anecdotes and the more humorous stories throughout the book.
The author spoke about the enjoyment he got from researching the REIQ and writing the many stories. The REIQ Journals were a great source of information. Many REIQ life members attended and it was good to catch up with early Raine & Horne colleagues including Ken Jackson. Previous CEO Don McKenzie was there and received a thanks for commencing the project some years ago.
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