ACCC interest in REA an ‘excellent opportunity' for Domain: CoStar
Andy Florance, the chief executive of $US84 billion ($55 billion) real estate giant CoStar, told investors during an earnings call that he expected the company to take ownership of property sales portal Domain before the end of September.
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News.com.au
16 hours ago
- News.com.au
Hobart home listings trend lower
There are fewer Hobart homes for sale now than there were last month or last year. And there are fewer new listings coming through to fill the gap. But this doesn't necessarily mean that budding buyers are starving for choice. REA Group's June Listings Report showed a 18.1 per cent decline in new Hobart listings when comparing June to May. Hobart was among five capital cities with a double-digit decline. Compared year-on-year, new listings in June were 7.5 per cent lower. Hobart's total listings figure was down by 8.1 per cent month-on-month and 6.4 per cent lower year-on-year. In regional Tasmania, the annual total figure was 4.8 per cent higher. However, the new listings year-on-year result was 1.4 per cent behind 2024. REA Group executive manager of economics, Angus Moore, said the market had entered the quieter winter season now, which is particularly pronounced in Hobart. 'This means we're seeing fewer new listings and less stock on the market,' he said. 'Even so, this June has been quieter than last year, and a bit quieter than average, though that comes off a busy first three months of 2025 and a busy spring last year.' Mr Moore said while there are fewer homes for sale this year compared to June last year, that mainly reflects that there was quite a lot of stock last year, not that choice is more limited this year. 'In fact, even with the decline we've seen year-on-year, there is far more stock available for sale than was the case during the pandemic, or during Hobart's late 2010s home price boom,' he said. 'Barring last year, the last time there was this much stock available during winter was 2016.' Meanwhile, SQM Research figures show 2931 listings across greater Hobart, including 559 that have been available for under 30 days. There were only 249 in the 30-60 day bracket; 308 in the 60-90 day range; 594 listed for 90-180 days; and 1221 have been on the market for over 180 days. Separate research by PropTrack shows houses in Hobart are selling 14 per cent faster now than they were a year ago (43 days on market), while units are selling 7 per cent faster (42 days). REA Group senior economist Anne Flaherty said days on the market are a clear indicator of how demand is tracking in a suburb. 'Where we see demand tracking up, we see days on market going down,' Ms Flaherty said. PropTrack statistics show the fastest moving suburbs in Hobart — for house sales — are Warrane (13 days), Glebe (18 days), Geilston Bay (20 days) and Mount Nelson (21 days). For units, the quickest suburbs are Moonah (16 days), Oakdowns (20 days) and Mount Stuart (22 days).
Sydney Morning Herald
a day ago
- Sydney Morning Herald
The Block faces falling house prices – and loses a billionaire buyer
Contestants on this year's season of reality renovation TV show, The Block, face a falling regional Victorian property market and the loss of a key potential buyer. This year, the series moved to the popular tourist town of Daylesford – known for its mineral springs, food and art culture, including the award-winning Lake House and artist David Bromley – located 90 minutes north-west of Melbourne. The show airs on Nine, owner of this masthead. Daylesford's median house price fell 6.3 per cent over the year to June, reaching $820,000, according to Domain data. The broader Hepburn Shire's median house price fell 11.3 per cent, to $687,500, in the same period. Domain chief of research and economics Dr Nicola Powell said the contestants will need to make 'strategic decisions' about how they sell their homes in a cooling regional Victorian market. Loading This follows double-digit increases in house prices in 2021, she said. 'What the market did was hit into the cooling period which began in 2023, and it has escalated … we are seeing the falls accelerate and that has been consistent in 2024 and 2025,' she says. 'What we have now is the median house price in Daylesford is $820,000 … that is $100,000 lower than the record high which was mid-2022 … definitely it's cooling.
The Age
a day ago
- The Age
The Block faces falling house prices – and loses a billionaire buyer
Contestants on this year's season of reality renovation TV show, The Block, face a falling regional Victorian property market and the loss of a key potential buyer. This year, the series moved to the popular tourist town of Daylesford – known for its mineral springs, food and art culture, including the award-winning Lake House and artist David Bromley – located 90 minutes north-west of Melbourne. The show airs on Nine, owner of this masthead. Daylesford's median house price fell 6.3 per cent over the year to June, reaching $820,000, according to Domain data. The broader Hepburn Shire's median house price fell 11.3 per cent, to $687,500, in the same period. Domain chief of research and economics Dr Nicola Powell said the contestants will need to make 'strategic decisions' about how they sell their homes in a cooling regional Victorian market. Loading This follows double-digit increases in house prices in 2021, she said. 'What the market did was hit into the cooling period which began in 2023, and it has escalated … we are seeing the falls accelerate and that has been consistent in 2024 and 2025,' she says. 'What we have now is the median house price in Daylesford is $820,000 … that is $100,000 lower than the record high which was mid-2022 … definitely it's cooling.
