Record high rents spur small jump in first time home buyers
Record rental prices have spurred those with the means to jump on the property ladder, new data shows. First home buyer loans increased by 6.2% over the year to May 2024, according to the latest PropTrack rental report. But record low vacancy rates mean the national average of $600 a week – an increase of […]
Three new reports predict up to 370,000 shortfall in 2030 homes target
Forecasts by property and housing bodies suggest the National Housing Accord’s ambitious 1.2 million target is well wide of the mark. Latest Australian Bureau of Statistics data showing a sharp decrease in completions – from 45,643 in the December quarter to 41,329 in the March quarter – prompted the Property Council of Australia (PCA) […]
Property professionals have welcomed moves to curb tainted cash flowing into real estate
But lawyers, real estate professionals and peak industry bodies have voiced concerns about the impact on the sector amid a lack of detail on the proposed reforms. Real Estate Institute of NSW chief executive Tim McKibbin said the potential negative effect of the reforms was a concern, but it was hard to assess given the […]
Feast and famine nature of conveyancing is a challenge to profitability
Australian Institute of Conveyancers NSW president Ann Blannin-Ferguson highlighted challenges to the sector in our latest industry leader profile. “Not having enough hours in the day when it gets really busy. You end up doing stuff in the middle of the night, sending off emails at 11pm,” the long-standing conveyancer tells Australian Conveyancer in the […]
triConvey Web App: Release notes – July 2024
This month, we have released new features in the triConvey Companion Site Web App. Read on to learn more. New features Set individual staff permissions Firm Owners can now access Staff & User settings from the Web App and assign permissions to staff in regard to accessing Accounts and Reports in the Web App. Firm Owner […]
Plans for competition in electronic conveyancing on hold
Efforts to broaden competition in the electronic conveyancing industry have been paused indefinitely. The Australian Registrars’ National Electronic Conveyancing Council (ARNECC) says issues raised by the banking industry about the Interoperability Program are “beyond the remit of state and territories to resolve”. “While reiterating their support for competition in the marketplace, state and territory ministers […]
AI being trialed to shave planning application times
Artificial Intelligence is being tested by 16 New South Wales councils as part of an $5.6million initiative to cut planning application times. The technology on trial could have saved an incredible 6,300 days wait on 500 applications already analysed as part of the preliminary AI study, according to NSW officials. While councils assess approximately […]
<strong>Real estate at “very high” risk of money laundering</strong>
Real estate is one of just a few “very high” risk industries vulnerable to money laundering, according to a new report. Criminals attracted to Australia because of its stable economy and buoyant housing market are suspected of laundering billions into the economy through property. While the AFP seized $1.1 billion in criminal assets between July […]
<strong>WA only state to see a rise in confidence among property professionals</strong>
Western Australia was the only state to see an increase in confidence levels among property professionals, according to a new report. High taxing, high spending state budgets on the east coast and interest rate concerns have impacted property industry confidence nationwide, with Victoria plunging into negative territory for the first time since the COVID-19 pandemic, […]
Aust shares dip amid European, US election uncertainty
By Derek Rose, AAP The local market has slipped amid uncertainty about elections in Europe and the United States, although a fire at a major Queensland coalmine led to strong gains for rival coalminers. The benchmark S&P/ASX200 index on Monday finished at the highs of the day, down 16.8 points, or 0.22 per cent, to 7,7507, […]
