Daily Buzz: Saturday, 3 August
By
PropertyBuzz, your daily dose of property news.
Real Estate Institute of Australia CEO to take on a new challenge, Auction Volumes take a dip, and is the great Australian dream over?
Welcome to Property Buzz! I’m Grace Ormsby
Today is Saturday, 03 August.
– Anna Neelagama is stepping down as CEO of the Real Estate Institute of Australia after four years, triggering a nationwide search for a new CEO.
– During her tenure, Neelagama navigated the industry through COVID-19, seven federal budgets, and the redevelopment of Real Estate House, among other accomplishments.
– Neelagama is moving on to become the CEO of Master Builders ACT, effective September 2024, as the association enters a new phase of sustainable growth.
– She succeeds Michael Hopkins in the CEO role, who will transition to a role with Master Builders Queensland.
And looking to Australia’s auctions this weekend, and less than 1,800 will go under the hammer this weekend, down from almost 2,000 last week.
– Melbourne remains the busiest auction market, while Sydney’s volume has also decreased, potentially due to the upcoming bank holiday weekend.
– Smaller cities show mixed trends, with Adelaide and Canberra seeing an increase in auction volumes, while numbers are down in Brisbane and Perth.
– CoreLogic predicts activity will pick back up on the downhill run into Spring. Â
– And finally, Sydney’s freestanding homes are now double the price of apartments, leading to a rise in high-rise living.
– According to Place Studio, the traditional Australian dream of a detached suburban home is being replaced by apartments close to amenities and work.
Taking it one step further, they’ve flagged a new trend of amalgamated apartments is emerging for those needing more space, with families merging two or more apartments together to find more space becoming more popular.
That’s Property Buzz for today.
See you again tomorrow, 04 August, for your daily dose of Property Buzz.
If you like this episode, show your support by rating us or leaving a review on Apple Podcasts and by following Property Buzz on social media: YouTube, Instagram and TikTok.
