The median house price for Middle Melbourne is sitting at less than $900,000 for the first time in almost three years, creating upsizing opportunities for aspirational house hunters with the goal of buying in to some of Melbourne’s most sought-after postcodes.
Following the success of our REIV Connect regional series we are bringing REIV Connect to three key locations in Metro Melbourne.
The auction market has definitely started to pick up in the aftermath of the Federal Election, as the Real Estate Institute of Victoria expected.
Nominations are now open for three Director positions - one from the Regional Zone and two from the Metropolitan Zone – as Noel Dyett, Sophie Lyon and Robyn Waters are due to complete their terms of office on 30 September 2019, unless re-elected.
Visit reiv.com.au/rta for an overview of the RTA related changes
Distilleries are giving a spirited boost to the property markets in Regional Victorian towns according to an analysis by the Real Estate Institute of Victoria.
From 9 December 2019, the Residential Tenancies Bond Authority (RTBA) will require all licensed estate agents to complete most transactions electronically using RTBA Online. This includes lodging bonds, claiming repayments, and transferring tenants on a bond.
You will have seen that the new Morrison Government has appointed a Minister for Housing under the Treasury umbrella. The appointment of Michael Sukkar to this role, as well as Assistant Treasurer, should not be underestimated. It is not only a major win for the REIA but demonstrates what can be achieved by working with Government and sustained advocacy.
On the 1 May 2019 the Fair Work Commission handed down a decision to change the Real Estate Award. The decision changes how commission-only payments for salespeople apply and who they apply to.
The Victorian Budget 19/20 has been adjusted to deal with the biggest write down in revenue in Victoria’s history. REIV President Robyn Waters said this is due to the challenging headwinds for Victoria’s property market with sales volumes down 24 per cent and cooling values as we have seen over the past year.