Australia Real Estate
The millionaire real estate mogul who prefers to rent
Barnaby Joyce declares gift of free rental property
Should you choose a fixed, variable or split loan?
Balinese-style home for sale for multimillion-dollar price in Lorne
Hobart leads national home value growth for fifth month in a row - realestate.com.au
House prices rising by more than $2000 per day in booming Toorak
Confidence in Queensland’s property sector falls for first time in nearly 2 years
Banking royal commission slams CBA, Aussie Home Loans for failing to disclose bad behaviour
2018-03-13 06:09:08 A senior lawyer at the Financial Services Royal Commission has slammed some of Australia's banks for their "less comprehensive approach" to requests for information about misconduct from Commissioner Kenneth Hayne. Key points: The commission hit out at banks for failing to disclose misconduct around consumer lending The commission heard from customers who said banks and brokers falsified home loan documents People also complained banks and brokers intentionally failed to verify their income for home loans The problems faced by Australian consumers with home loans, car finance, credit cards and overdrafts were outlined by Rowena Orr QC, the senior counsel assisting Commissioner Hayne, as the first round of public hearings kicked off this morning   Read More ...
House prices expected to grow after the Commonwealth Games - realestate.com.au
2018-03-13 06:08:20 GOLD Coast house prices are expected to remain strong following the Commonwealth Games. Demand for affordable housing options and a desire to live in established coastal areas were attributed to the growth, new RiskWise Property research has found. RiskWise chief executive Doron Peleg said the Gold Coast was one of the most popular destinations for both owner-occupiers and investors in southeast Queensland   Read More ...
UPDATE 1-Australian probe of bank-sector misconduct begins with focus on home loans
2018-03-13 00:14:53 * Powerful Government-backed probe first round of hearings begins * Focus will be misconduct in selling home loans and other loans * NAB miss-selling through referral program case to be heard first (Adds NAB CEO comment) By Paulina Duran The long-awaited Royal Commission follows years of scandals in Australia’s financial sector including poor financial advice, interest-rate rigging, and accusations of breaking money-laundering rules   Read More ...
Embattled real estate agency McGrath slashes profit forecast
2018-03-12 04:08:51 The newly minted board of embattled property agency McGrath Ltd has moved swiftly to slash its expected profit for the listed company. In a statement to the Australian Securities Exchange on Monday morning, McGrath said it now expected the company to generate underlying profit before tax, depreciation and amortisation (EBITDA) of between $5 million and $5.5 million. This more than halves the figure (between $10   Read More ...
Are comparison rates the best way to compare home loan deals?
2018-03-11 23:34:02 MORTGAGE customers who rely on comparison rates to determine whether they are getting a good deal could be wasting their time and money.   Read More ...
Sydney property prices not affected by new stock, parliamentary inquiry hears
2018-03-05 22:15:31 A massive boost to Sydney's housing supply has barely had an impact on sky-high prices, a New South Wales parliamentary inquiry has heard. Key points: Sydney's average property price remains well over $1 million Increased supply has done little to bring prices down, according to Shelter NSW A Parliamentary inquiry has heard it could be 50 years before markets change The inquiry was held yesterday — on the same day a new Grattan Institute report found dramatic drops in home ownership levels among younger and poorer Australians   Read More ...
Agent releases video with ‘five reasons NOT to buy this property’
2018-02-28 06:11:42 A YOUNG rural agent has decided to anti-market a property in Bombala in southern NSW, outlining five reasons any potential buyers should avoid the property in a video released today. Ray White Rural Canberra and Yass agent George Southwell, 22, shot this video on-site at a property called Crystal View outlining the key reasons the property was not ideal. “I’m going to give five reasons you won’t want to buy this property,” Mr Southwell said in front of the town sign welcoming people to Bombala, known as Australia’s platypus country   Read More ...
Tenant finds diamond stash in rental unit
2018-02-27 06:54:00 Diamond stash found by tenant cleaning Cairns rental property Moving house is never fun, especially when you reach the dreaded bond clean stage — unless, that is, you stumble across a stash of diamonds in the process. The thorough cleaning practices of a Cairns renter have uncovered a haul of diamonds that police believe may have been hidden for more than a decade   Read More ...
Tech-packed luxury apartment complex planned for Melbourne
2018-02-26 16:06:42 Plans have been unveiled for an ultra-exclusive new apartment complex in Melbourne, Australia. Developer Devitt Property Group aims to offer well-heeled residents peace of mind with high-tech security features like facial recognition and fingerprint scanners. The building will also include automation systems, solar power and rainwater recycling. The apartment complex, named The Muse, will comprise 14 floors and up to 45 units measuring 200 sq m (2,150 sq ft) to over 1,000 sq m (10,700 sq ft)   Read More ...
Estate agent who stole $6.5m to fund lavish lifestyle asks for no jail
2018-02-26 12:21:49 A former real estate agent who misappropriated more than $6 million from clients to fund his lavish lifestyle has asked a Melbourne judge to spare him from prison. Tri Duc Ngo, also known as Joseph Ngo, has pleaded guilty to misusing $6.49 million from trust accounts linked to six LJ Hooker branches, spending some of the money on jewellery or drugs such as ice   Read More ...
A small Manly property has sold for more than $500,000
2018-02-24 09:34:55 New data has revealed that more first home buyers are entering the property market. The Australian Bureau of Statistics figures show the number of loans approved to first home buyers rose to a five-year high in November. New owners accounted for 18 per cent of total owner-occupied home borrowings, resulting in less investors. The ABS report claims recent changes to first property buyer incentives in New South Wales and Victoria are behind the spike   Read More ...
ANZ tightens rules on interest-only home loans
2018-02-23 05:11:36 ANZ Bank will beef up its scrutiny of customers looking to switch into an interest-only home loan as lenders are taking a more cautious approach to riskier mortgages. The big four bank is also banning interest-only home loans from being used by customers who are relying on a parent or other family member to act as a guarantor. ANZ this week said it would treat changes involving interest-only loans - such as a customers extending the term of their loan or switching from a principal and interest product to one where they only pay interest - as a "credit critical event   Read More ...
Hot housing lifts profits for nation's biggest developers
2018-02-21 08:12:44 Sydney and Melbourne’s heated real estate prices have buoyed the country’s biggest diversified property developers, helping deliver strong profits despite weak retail conditions and record levels of household debt. Property giant Stockland delivered a $684 million first half statutory profit, reporting underlying earnings growth of 18 per cent. The group, which builds housing estates, retirement villages and industrial parks, is Australia's largest listed residential property company   Read More ...
$22m beach house tops year’s list of QLD’s most expensive homes
2018-02-21 06:43:04 THE ultimate beach house has become Queensland’s most expensive home sold in the past year, passing Brisbane’s $18.48 million top sale last year as well as Pat Rafter’s $18 million beachfront property. After just over three weeks on the market, a single offer was made for the Noosa estate by a buyer who “fell in the love” with the property during a two-hour inspection   Read More ...
The millionaire real estate mogul who prefers to rent
2018-02-18 07:02:44 Within a decade, the runaway teen was selling high-end real estate in New York. He became a multi-millionaire property mogul and a reality television star on a show about the high-pressure, high-paying, high-adrenaline life of the Big Apple’s cutthroat top-end real estate brokers. And then, at the top of his game, he walked away. The 31-year-old former star of Million Dollar Listing New York has done millions of dollars of property deals, but only ever rents the places he lives in   Read More ...
An email scam has caused $200,000 in losses to real estate agents and home buyers in Victoria
2018-02-16 12:17:31 Consumer Affairs Victoria has advised real estate agencies to ensure their cyber security is up to date, and home buyers to verify any payment instructions, after receiving reports of more than $200,000 in losses from an email scam. The email scam works by directly hacking the email accounts of real estate agents. Once the agent has sent through a contract of sale and trust account details to a buyer for the payment of their house deposit, the hacker then sends a second email advising the account details were ‘incorrect’   Read More ...
Land prices hit record high amid supply shortfall across the country
2018-02-14 12:17:07 THE cost of residential land lots in Australia has hit a record, pushing prices in some regions of Queensland to the highest in the country. The latest HIA-CoreLogic Residential Land Report, out today, found that the median vacant residential land lot price hit an all-time high in the September 2017 quarter to $267,368. It was a massive 10.9 per cent jump on the same period in 2016   Read More ...
Being a renter in Sydney is hell — here’s why
2018-02-14 00:34:35 A man peers out of the doorway, my flatmate and I are early and we’re the first ones to arrive at the inner Sydney property, a unit in a large apartment block in Darlinghurst. The man crosses the road, hands us a note and tells us to read it, but to be discreet. The real estate agent would be arriving at any moment and he doesn’t want them to know he’s out to sabotage   Read More ...
How fixed-rate home loans could save first home buyers thousands
2018-02-12 14:49:49 When Melbourne first-home buyer Ashley Floate went to take out a mortgage, he knew a variable interest rate loan wasn’t for him. With less than a 10 per cent deposit for a two-bedroom unit in Watsonia, he wanted to take advantage of record-low interest rates while he could. “I always felt I wanted the majority of [my loan] to have a fixed interest rate,” he said   Read More ...
Barnaby Joyce declares gift of free rental property
2018-02-10 23:04:42 Canberra: Barnaby Joyce has declared the gift of a free rental property in Armidale in his pecuniary interest register and is believed to be living there with his new partner, his former media adviser, Vikki Campion. Australia’s deputy prime minister declared the gift on January 3 following his re-election to the seat of New England in December. He did not reveal the address or who provided the house   Read More ...
Here’s why Melbourne and Sydney have decoupled from the rest of Australia’s property markets
2018-02-09 12:15:22 According to Dr. Phillip Lowe, Governor of the Reserve Bank of Australia Melbourne and Sydney’s high property prices are partly explained by the fact that they have become “superstar cities”. “Low interest rates have added to that, but basically people are prepared to pay a lot more to live in certain cities and we don’t fully understand why that is, but it’s a common thing across the board   Read More ...
REA Group chief calls growth 'exceptional' as property markets slow
2018-02-09 04:10:03 Slowing property markets in Sydney and Melbourne did not stop online real estate portal REA Group posting a strong increase in profit for the first half of the year on Friday. REA Group chief executive Tracey Fellows described a 21 per cent increase in profit as “exceptional” and underpinned by its core business. Much of the growth was thanks to the inclusion of its new financial services business’ income, and real estate agents paying more for more prominent listings of properties, called “listing depth products”   Read More ...
Should you choose a fixed, variable or split loan?
2018-02-09 00:10:13 It’s the question every Aussie with a mortgage has to grapple with – should you choose a fixed, variable or split home loan? Finance specialist, John Tindall from Accumulus Home Loans in Sydney, translates the mortgage jargon, explains the pros and cons of the different types of loans and shares his thoughts about which approach is best. The lowdown on fixed Tindall says a fixed rate loan provides a “predictable interest bill” – and this is its appeal for many   Read More ...
Illegal Airbnb subletting exposed
2018-02-08 04:05:06 Monitoring of residential buildings in Sydney and Melbourne has revealed up to a quarter of units in some major apartment buildings are being listed on the sharing sites against their owners or property managers’ will. And some victims of unwanted subletting are being left tens of thousands of dollars out of pocket as a result of the dangerous trend. The stats have been revealed by a new service launching in Australia built specifically to combat the underhanded practice   Read More ...
Brisbane to become best performing capital city housing market in five years, analyst tips
2018-02-07 06:12:21 BRISBANE is well placed to take over as the nation’s best performing capital city housing market in the next five years, a leading property analyst has predicted. But while the city looks set to benefit from better housing market conditions, don’t expect house prices to reach the giddy heights they have in Sydney and Melbourne. CoreLogic’s head of research and analytics, Tim Lawless, believes Brisbane’s property market could be a quiet achiever   Read More ...
More affordable housing for Green Square as council sells land
2018-02-05 06:11:36 The emerging metropolis in Green Square will include up to 80 extra affordable homes after the City of Sydney inked another deal for the subsidised sale of council land to a community housing provider. Lord Mayor Clover Moore confirmed the council had agreed to sell its remaining parcel of land at 338 Botany Road in Alexandria to St George Community Housing   Read More ...
Slow start to housing market for 2018
2018-02-05 05:11:21 Sydney's continuing home price slide kept capital city values largely flat last week, while auction activity has increased. The number of home auctions rose to 779 in the week to February 4 - almost triple the number of a week earlier - but that was down on the 881 in the same period a year ago, data from property analytics group Corelogic show   Read More ...
NSW and Victoria’s property decline sees other states shine
2018-02-03 12:19:24 Property in Australia’s often-forgotten states is finally creeping back into the spotlight after years dominated by soaring Sydney and Melbourne prices, according to NAB’s latest quarterly residential property index, which notes a tumble in east-coast sentiment and confidence. Australia’s property market momentum has seen a “clear shift from the eastern states towards the rest of the country”, NAB chief economist Alan Oster notes, with NSW homeowners now bracing for noticeable price falls this year   Read More ...
4 steps to help you crack the property market in 2018
2018-02-03 06:05:46 Could 2018 be your year? The year you crack the property market? Hear from experts on how term deposits, credit scores and budgets could help you get there faster.   Read More ...
‘Solid’ growth forecast for Melbourne house prices: NAB survey
2018-02-03 00:13:26 MELBOURNE house prices are tipped to have another “solid” year of growth — but at a much slower rate than the past few years. The latest NAB Quarterly Residential Property Survey forecasts house prices to rise 3.7 per cent in the Victorian capital over 2018, and 2.2 per cent in 2019, following a 9.1 per cent boost last year. Melbourne’s expected trajectory outpaces the capital city average of 0   Read More ...
First home buyers return as foreigners buyers leave the market, NAB survey reveals
2018-02-02 08:19:24 First home buyers are increasing their share of the property market as foreign buyer demand diminishes, a survey of industry insiders has revealed. Sentiment towards Australia's housing market remained at above-average levels in the fourth quarter of 2017, according to NAB's survey of property professionals. However, lower expectations for prices and rents saw confidence in the New South Wales and Victorian markets take a hit   Read More ...
‘Solid’ growth forecast for Melbourne house prices: NAB survey
2018-02-02 07:17:45 MELBOURNE house prices are tipped to have another “solid” year of growth — but at a much slower rate than the past few years. The latest NAB Quarterly Residential Property Survey forecasts house prices to rise 3.7 per cent in the Victorian capital over 2018, and 2.2 per cent in 2019, following a 9.1 per cent boost last year. Melbourne’s expected trajectory outpaces the capital city average of 0   Read More ...
First home buyers rule the cooling new housing market
2018-02-02 06:02:16 First home buyers are the rising force in a cooling residential property market, according to the latest NAB survey of industry professionals. The December quarter survey found that first home buying owner-occupiers and investors accounted for nearly 39 per cent of new housing sales, and 31.5 per cent of established housing sales. The proportion of first home buying owner-occupiers continued a trend of their rising market share in both new and established housing since late 2016   Read More ...
Chinese firm's 'lucky' Australian property deal turns sour
2018-02-02 05:59:39 A Chinese developer, who purchased the Melbourne offices of Computershare 18 months ago for the “lucky” sum of $88,888,888, has sold the building at a loss in a rising property market. LYZ Property Group, a subsidiary of Nanchang-based Hengmao Group, offloaded the office leased by the financial firm on Friday in a $93.5 million deal with the ASX-listed company Abacus Property Group   Read More ...
Sydney, Melbourne property prices slip again in January as lending rules bite
2018-02-01 02:10:45 Home prices across Australia's major cities fell further in January as weakness spread out from the Sydney market in the face of tighter rules on investment lending - a relief to regulators but a potential drag on consumer spending power. Property consultant CoreLogic said on Thursday its index of home prices for the combined capital cities slipped 0.5 per cent in January, after a drop of 0   Read More ...
Property sellers pay mortgage brokers, financial planners and accountants for client referrals
2018-01-31 22:17:36 Real estate sales companies are using big commissions to tempt mortgage brokers, financial planners and accountants to sell overpriced properties to unsuspecting clients. Key points: Payments ranging from 5-10+ per cent of the property price are offered for sales referrals Financial planners may breach obligations by accepting payments, mortgage brokers largely unregulated Mortgage Choice brokers can earn thousands of dollars by referring a client to a property investment firm It is a business model that has been operating for years, but is raising more concern now that many of Australia's largest property markets are heading for a potential apartment glut   Read More ...
Tangalooma resort defends fee hikes for Moreton Island homes
2018-01-30 22:18:33 Tangalooma Resort has defended ongoing rises in annual fees for property owners on Moreton Island saying it has been "in line with increases across the property market" while confirming some are receiving a 100 per cent discount. They also questioned a system which allows 'discounts' for some residents at the discretion of the resort's management. In response, the Premier said she would inspect the head lease held with the State Government after property owners broke their silence   Read More ...
Standing up to your landlord — and winning
2018-01-29 22:15:11 Renters and landlords don't always see eye-to-eye and disputes can get ugly. If you do take your landlord to a court or tribunal, or end up being called yourself, here are some ways to put your best foot forward. Landlord tried to claim $1,700 Melanie Burge drew the line after her landlord took her to the tribunal at the end of her lease in Melbourne's inner-north in 2016   Read More ...
Sydney and Melbourne are most at risk of a significant property price correction: JP Morgan
2018-01-26 03:07:59 House prices in some Australian capital cities have risen sharply in recent years, especially in Sydney and Melbourne. It's stirred a feverish debate in the community as to whether prices are in a bubble, and prone to a significant correction. To some, the bigger the price gains have been, the larger they will fall. While that debate looks set to rage for some time yet, few will disagree that house prices are expensive across many parts of the country   Read More ...
Balinese-style home for sale for multimillion-dollar price in Lorne
2018-01-23 21:18:40 YOU’D be forgiven for thinking this luxury holiday home was in Bali rather than Lorne. The property at is fully decked out in Indonesian style, from its villa-inspired interior of recycled timber, ornate tiling and bamboo ceilings with exposed beams, through to its tropical gardens. Great Ocean Road Real Estate, Lorne, director Ian Stewart said the “one of a kind” pad had been a holiday home for its Bali-loving owner, a venue for functions such as weddings, and a popular short-term holiday rental that had attracted a string of celebrity guests   Read More ...