Doorsteps Group

A 2024 report from CoreLogic Australia found that more than two-thirds of agents want to better use the data in their CRM software this year. With today's sophisticated digital platforms and the rapid rise of AI, the opportunities for agents to improve their prospecting are growing every day, but you have to know where to start. We spoke to industry-leading CRM innovators LockedOn and RiTA for an Elite Agent feature to uncover the practical ways real estate agents can harness the power of the data they already have and take their prospecting to the next level. #realestateagents #australianproperty #proptech

2024 is already off to an interesting start in the world of Australian property. Growing diversity between markets, rapid population growth in the face of a broad undersupply of housing, and the expectation of interest rate cuts later in the year are all going to be key themes to watch in the year ahead. Find out what the experts are saying about the future of property prices. #australianpropertymarket #interestrates #australianproperty

2023, the year that was predicted to be another major downturn for the Australian property market, has wrapped up with home prices substantially higher in most locations around the country. Our cities and states are now forging different paths, though. Perth, Brisbane and Adelaide are still soaring to new heights while Sydney and Melbourne have seen growth slump. CoreLogic Australia's Tim Lawless explained that, "After monthly growth in home values peaked in May at 1.3%, a rate hike in June and another in November, along with persistent cost of living pressures, worsening affordability challenges, rising advertised stock levels, and low consumer sentiment, have progressively taken some heat out of the market through the second half of the year." 2024 could be a year in which we see more fractured markets emerging. Find out what's in store for Australian property over the next 12 months. #australianproperty #interestrates #australianpropertymarket

Australian property prices have gained +8.3 per cent since January according to CoreLogic Australia, making for a staggering recovery in the face of the high interest rate environment. While Brisbane, Perth and Adelaide are still surging ahead at a rapid pace, Sydney and Melbourne have seen a significant shift as affordability bites and buyers struggle to keep up with cuts to their borrowing capacities. Record population growth continues to drive strong demand while the country's housing markets are still broadly undersupplied, but some tailwinds are getting stronger and could make for a more balanced market in the new year with milder growth. The good news is that inflation looks to be coming under control and there should be more certainty around interest rates in 2024, helping both buyers and sellers alike to make plans with confidence. Click through to find out more about what's in store for Australian property. #australianproperty #interestrates #australianpropertymarket

There have been some sobering statistics coming out of the RBA lately. The share of variable-rate owner-occupiers whose expenses and mortgage costs exceeded their income in July 2023 is estimated to be around 13 per cent. What's even more worrying is that the RBA estimates about 20 per cent of all loans will be unable to refinance at a cash rate of 4.60 per cent because the borrower will fail a serviceability assessment. That is a lot of Australians doing it tough in the current environment. Home equity agreements may be a suitable solution for many of these borrowers, allowing them to reduce their mortgage balance, lower their monthly payments and refinance to a better rate. If you’re keen to understand more about this exciting new space, take a look at this overview we've pulled together. #australianproperty #interestrates #homeequity

October brought another month of broadly strong gains for Australian property values — especially so in some locations. CoreLogic Australia's Tim Lawless explained that "At this rate of growth, we will see the national HVI reach a new record high mid-way through November, recovering from the -7.5% drop in values recorded over the recent downturn between May 2022 and January 2023," adding that prices are already hitting new peaks in Brisbane, Perth and Adelaide. The pace of the market recovery has eased off since the middle of the year, though, and interest rates are suddenly at the centre of the conversation once again. After four months on hold, the Reserve Bank of Australia has pushed the cash rate by another 0.25% which could deliver a blow to confidence and change the market's momentum once again. Click through to get all the latest on where Australian property is at and where things could be heading in the coming months. #australianproperty #interestrates #australianpropertymarket

The spring selling season is well and truly underway and, despite listings climbing in some markets, prices are edging towards all-time highs once again. According to CoreLogic Australia's latest report, Australia's median home price should hit a new peak by the end of November, and nearly a third of the country's subregions are already there. Record levels of population growth are a key driver of the buyer demand that's supporting these price lifts in the high interest rate environment. But Tim Lawless warned that "Housing affordability is still relatively stretched and is getting worse as home values continue to rise. High interest rates make it harder to qualify for credit, especially when considered alongside high cost of living pressures and the three percentage point serviceability buffer." So can this remarkable run of growth continue or will affordability wind things back? Find out in our latest market update.  #australianpropertymarket #interestrates #australianproperty

When it comes to selling property, choosing the right agent is one of the most impactful factors in the process, and often it's not given the weight it deserves. Doorsteps Group co-CEO Johanna Seton told The Sydney Morning Herald that the impulse to choose an agent based on a low commission can come at a significant cost to a seller when it comes to their final sale price. "Focus first on the quality and experience of the real estate agents you’re considering working with, and then negotiate the specifics of commissions and fees after," she said. As the article points out, "The difference between a good and a bad selling agent could easily be as much as $100,000," so researching and interviewing multiple agents is critical. That's why OpenAgent's mission is to help Australians navigate the complicated property market, find the agent that's right for them, and achieve a successful sale. #australianproperty #realestate #australianpropertymarket

The spring selling season is well and truly underway and, despite listings climbing in some markets, prices are edging towards all-time highs once again. According to CoreLogic Australia's latest report, Australia's median home price should hit a new peak by the end of November, and nearly a third of the country's subregions are already there. Record levels of population growth are a key driver of the buyer demand that's supporting these price lifts in the high interest rate environment. But Tim Lawless warned that "Housing affordability is still relatively stretched and is getting worse as home values continue to rise. High interest rates make it harder to qualify for credit, especially when considered alongside high cost of living pressures and the three percentage point serviceability buffer." So can this remarkable run of growth continue or will affordability wind things back? Find out in our latest market update.  #australianpropertymarket #interestrates #australianproperty

It's been a tough 18 months for many newer homeowners who've had to grapple with the sudden and sizeable jump in interest rates. Some recent analysis from PropTrack showed that the number of properties being bought and sold within three years has risen just as sharply as rates. More than 15 per cent of sales in 2023 have been homes that were purchased within that three year window - up from around 10 per cent in 2021. But how much of this trend is down to homeowners escaping mortgage stress? PropTrack's Angus Moore wrote that the data indicates it may be more about strong selling opportunities. "While most parts of the country have seen an increase in the share of short-turnaround listings compared to what’s been typical in the past five years, the biggest increases are happening in areas where prices have grown the most," he said. "At least so far, we haven’t seen signs that pressure is leading to swathes of households getting behind on their mortgage, or forcing people to sell." Check out the article to get the full story. #australianpropertymarket #interestrates #australianproperty