Latest news with #realestatemarket
ABC News
a day ago
- Business
- ABC News
Competition watchdog ACCC probes real estate giant REA Group over price gouging consumers, while real estate agents fear they could be wiped out
It now costs more to advertise a home for sale in Australia than almost anywhere else in the world and REA group, the $32 billion publicly listed company, which operates and is majority owned by the Murdoch-controlled News Corporation, reaps most of the online advertising fees. The regulator, the Australian Competition and Consumer Commission (ACCC), has stepped in after years of complaints that REA Group is using its dominant position to the detriment of home sellers and real estate agents. While the cost of providing a home listing on the internet is very low, the Melbourne-headquartered company has established itself as the number one site to list on and, as such, it can hike up its listing prices nearly every year. But what has the industry most worried is REA Group's business model, which will now also come under the regulator's microscope. The company has amassed power in Australia's highly lucrative real estate market — by not only becoming the number one portal to advertise a property for rent or sale, but by taking over a raft of other businesses that hold a wealth of data about consumer habits when it comes to buying and selling a home. Real estate agents fear it won't be long until REA starts charging them fees for leads on buyers and sellers, and some even speculate that one day REA may operate as one mega real estate agency that could wipe out smaller independent agents altogether.
News.com.au
26-05-2025
- Business
- News.com.au
Australian real estate: should I sell my home in winter 2025
While many sellers wait until spring to put their property on the market, there are benefits to selling in winter – just as long as you keep a few seasonal considerations in mind. PROS AND CONS OF A WINTER SALE It seems to be a general consensus among sellers that winter is not an ideal time to sell property. Data from Ray White shows that on average, Australia experiences a 7 per cent drop in property listings between May and June each year, based on market – wide records studied from 2022 to early 2025. While there are a few warm climate areas that buck this trend (Darwin, Brisbane and Regional Queensland), the majority of capital cities and regional areas see a marked decrease in listings (-2 per cent nationally) during winter. However, Ray White head of performance and recognition Bianca Denham says less listings means less competition for those who do decide to sell during the colder months. 'If I was selling a property, I'd rather sell my home when there's fewer other properties similar to mine because it gives buyers less choice,' she says. 'Potentially it might give me a favourable pricing outcome because there's less options.' And while there may be less sellers during winter, there are always buyers to be found no matter what season it is. 'People don't buy because the daffodils are out,' she says. 'They buy because they got a promotion, they finished saving, they're having a baby – all these other life events.' Another benefit to selling in winter is that it enables you to showcase how cosy your home is, especially if you have a fireplace, says McGrath Hunters Hill director Tracey Dixon. 'Some of my properties over the years have lent themselves to that kind of environment,' she says. However, the weather may not be on your side and gardens may not be looking their best, says Denham. 'If the weather is terrible you'll have to contend with things like mud,' she says. 'But one thing I know is if someone wants to buy a home they'll be there – rain, hail or shine.' THINGS TO CONSIDER Before listing in winter, make sure you think about the demographic of buyers and the type of property you are selling, Dixon says. 'People need to consider the unique nature of their property and what the benefits are for the potential purchasers,' she says. 'Aspect is also a consideration. If you have a waterfront home that is south facing that's going to be cold and windier in winter then it certainly wouldn't be the ideal time to be selling.' If you do list in winter, it's best to go above and beyond to make it warm and inviting. 'People need to think about their heating systems, how they're going to make their properties light and bright even though it might be less sunny,' Dixon says. Denham says it's important to give the garden a once over and freshen up the lawn. 'Make some considerations for people coming through. If the weather is going to be wet, it's going to be muddy – put extra door mats out,' she says. WINTER FORECAST Denham says she expects this winter to 'kick along quite nicely' now that the Federal election is over and more interest rate cuts seem likely. 'We've got stability of government, a strong focus on housing and affordability of housing – I think that's only going to provide confidence to the market,' she says. Based on her conversations with other agents across the country, Dixon says she expects to see strong activity from investors over the winter months. 'From what we're seeing across the board, people are getting back into looking at real estate as one of Australia's greatest investment opportunities,' she says. 'I think that's going to really fuel the months between June, July, August this year. 'I think a lot of people are thinking they might get into the market before the market takes off again next time and that could be as early as later this year or it could be maybe 2026. 'I think all eyes are back on property throughout the country now. Everyone thinks this is the place to invest their money for the future.'
Arabian Business
17-05-2025
- Business
- Arabian Business
Off-plan real estate sales in Dubai have already reached $24.5bn this year as high returns and easy finance lure investors
Off-plan Dubai real estate sales have already reached AED90bn ($24.5bn) so far this year, according to W Capital data. The findings, based on data from the Dubai Land Department, indicated that the Dubai real estate market witnessed 40,500 off-plan property transactions between January and May 15, 2025. The AED90bn ($24.5bn) total, making 38 per cent of total market sales. Off-plan real estate in Dubai Ready-built properties, which recorded AED147.4bn ($40.1bn), accounted for 62 per cent of sales during the same period. According to the data, off-plan transactions included 36,359 residential units and 4,141 buildings. W Capital CEO Walid Al Zarooni said: 'Dubai's off-plan real estate market is witnessing significant growth in 2025, making it a preferred destination for local and international investors,' He stated that off-plan properties in Dubai have become a preferred investment choice for many investors, thanks to a number of factors that enhance their attractiveness in the real estate market. He noted that among the most prominent of these factors are competitive prices, as off-plan properties are offered at prices ranging from 5 per cent to 15 per cent lower than ready properties, offering attractive opportunities to obtain residential units at reasonable prices. He also pointed out that developers offer flexible payment plans that help investors easily finance their purchases, including the options of paying only 50 per cent upon delivery. Al Zarooni said: 'Off-plan properties in Dubai also boast high rental returns of up to 7 per cent, making them an attractive option for those seeking a steady and stable return on their investments'. As for the future of the market, Al Zarooni expects demand for this type of property to continue rising in the coming years, due to Dubai's population growth and the increased need for new housing units. He also noted that significant government investments in infrastructure projects play a vital role in supporting this trend, especially as the emirate seeks to reach a population of 5.8m by 2040. This will directly contribute to boosting real estate market activity and increasing investment in new residential projects. He added: 'Modern real estate legislations and the effective regulatory role of government agencies were among the most prominent factors that contributed to establishing a stable and secure investment environment'. He confirmed that laws that guarantee investors' rights, in addition to strict regulations for licensing off-plan projects, have increased confidence and transparency in the market, making investment more attractive and less risky. Al Zarooni said that the improvement in real estate financing services has significantly contributed to increasing demand for new real estate projects, especially with some banks offering financing plans specifically for off-plan properties.
