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Agents answer for their actions, tech firms in trouble, and a budget to tackle the housing crisis – here are the top 10 stories that occupied the industry’s attention in 2023.
In an Australian Securities & Investments Commission (ASIC) notice published 29 June 2023, it was revealed that administrators from KPMG had been appointed to Different Technologies Pty Ltd., better known as :Different, under section 436A of the Corporations Act 2001.
Upside Realty announced that it was embarking on capital restructure on 13 July, with the firm confirming it has entered voluntary administration.
The Reserve Bank’s cash rate announcements garnered lots of attention this year, but none more so than the first call of the new financial year, when a hold delivered a short-lived but welcome reprieve to borrowers across the country.
When the Albanese government delivered its first full-year budget since winning the 2022 election, real estate insiders and regular Aussies alike were eager to see how government spending would impact the nation’s housing market.
Dozens of Victorian real estate agents and agencies were slapped with fines and warnings for underquoting in the first operational year of a taskforce specially created to crack down on the illegal practice.
A former Newmarket real estate agent was sentenced to jail time for the mishandling of over $58,000 in trust money and other misdemeanours.
Raine & Horne made the big leap over the Tasman sea this year, launching the brand in the New Zealand market with big plans for expansion.
As many businesses start returning to their central business district offices, a sneaky investment opportunity has risen for savvy buyers. As a commercial property investment, car parking has literally no barrier to entry and has low CAPEX, as well as very minimal ongoing maintenance.
The email claimed it was “impossible to have a discussion about what is clean” with the tenants, comparing “white Australian” standards to “India and other cultures”.
The former Torquay agent will spend time behind bars for trust account mishandling and deficiencies.
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