Network & Industry

In This Edition… 

🚀 Spring set for ‘seller’s market’

👨🏽‍💼 Rural Chapter passes muster, new Chair appointed

🧑🏻‍💻 The shock Fair Work ruling affecting Virtual Assistants 

💻 Get ready for our ‘Winning Move’ spring campaign

🏠 The foreign buyers quietly snapping up Australian homes

🏢 The agency opening a second office after 24 years with FN

🥁 Are you ready for PMC 2025?

🤖 ChatGPT 5 hits the ceiling – ‘not getting exponentially smarter’

⚡ Open AI quietly admits AI has 'hit the ceiling'

⁉️ Google AI search splits: What should you do?

Spring season likely a ‘seller’s market’

👓 30 second read

Clearance rates have been lifting in the bellwether capitals of Sydney and Melbourne, rising from June’s 66% to nearly 76% now, convincing market pundits that spring looks certain to be a ‘seller’s market’. 

Better still, inflation has returned to the Reserve Bank’s preferred range, so its August rate cut to 3.6% has underpinned a timely boost to buyer confidence.

Investor lending also rebounded faster than first home buyers and owner-occupiers in Q2, pointing to a market that’s pricing in lower rates and firmer values.

Even though most properties may not go to auction in your region of Australia, with the clearance rate now its strongest since June 2023, experts are convinced that the wider market is moving and that there’s potential for house prices to be driven 6% higher (units 5%) by mid-2026. Borrowing power has now been increased across all income brackets, from $4,000 for those earning up to $50,000 p.a. to nearly $49,000 for double-income households on $400,000.

Meanwhile, New data has shown that Australia’s rental vacancy rate fell further in July as different pressures strain the property market, including supply constraints and rental price growth. 

The national vacancy rate has now fallen to 1.2%, down from 1.3% in June. There are just 37,863 rental vacancies nationwide.

Regional & Rural Muster, Margaret River

👓 1 minute read

More than 80 delegates travelled from all over Australia to Margaret River for the network’s annual Regional & Rural Muster, where a diverse speaker line up shared agribusiness insights.

The Christmas in July Charity Auction and hilarious Phantom Race Call was a highlight of the event, with a total of $18,000 raised. $10,000 was donated to The River Angels Charity, which provides local residents with help around the home and transport to medical appointments. $8,000 was provided to First National Foundation.

A Tour Day included visits to the Mammoth Cave, a Forest Tour, Leeuwin Estate Winery, then lunch at the beautiful Olio Bello Olive Farm. The Final Night featured a Trivia Dinner at Swings & Roundabouts, with questions focused on memorable moments from the event — a perfect way to close out the Muster.

Celebrated for its relaxed agenda, this year’s event was hosted by Barry Granville and Kelly Donaldson (FN Margaret River) with the exceptional organisational support of Kennedy Barnes (FN Margaret River) and Lucia Ladron De Guevara (Events Manager, NSO). Naturally, we also thank James Bateman for doing a great job as event MC. On behalf of all in attendance, we thank you for making this year such a great event.

After leading the Rural Chapter with dedication for the past 12 years, Robert Stephens (FN Collie & Tierney, Vic) passed the mantle to Rohan Ibbs (FN Charles L. King & Co, Barham and Cohuna). Thank you, Rob, for doing a sterling job of supporting rural members for more than a decade and congratulations Rohan on your appointment.

Next year, Regional & Rural Muster will be held in Albury/Wodonga.

No changes to negative gearing

👓 30 second read

The on-again, off-again debate about negative gearing has been settled for now with Housing Minister Clare O’Neil committing to no changes to before the next election. This followed two important comments from Prime Minister Albanese, the first of which was that he’d formed the view that curbing negative gearing could reduce the supply of rental properties. Hallelujah. The second was that ‘The Labor Party can’t send a message that is anti-aspiration. We have to be pro-aspiration,’ he said.

Coming soon: ‘The Winning Move’ campaign 

👓 30 second read

This spring, First National’s ‘The Winning Move’ lead generation campaign will drive more vendors to your door.

Developed in consultation with the National Member Marketing Reference Group and signed off by your Board, the campaign generates appraisals by offering vendors the chance to win a $10,000 Winning Move Prize Pack in our five major regions.

Find out more in the Media and Marketing chapter of this newsletter.

First National expands in Wantirna  

👓 20 second read

In Victoria, long term Mount Waverley members Thomas Som and Jessica Chea have branched out into the nearby suburb of Wantirna with a second office. FN Wantirna City will open on 1 September and marks the agency’s 21st year of operations in partnership with First National Real Estate. We’re thrilled to be a part of your successful journey at First National and look forward to many happy years ahead.

Foreign buyers quietly snapping up thousands of Aussie homes

👓 30 second read

As August draws to a close, news that foreign buyers have been quietly snapping up thousands of Aussie homes has broken. 

The Foreign Investment Review Board says:

🇨🇳 Chinese buyers bought 7,312 homes with an average value of $1.2m

🇭🇰 1,856 Hong Kong based buyers (av.$916K) put up sold stickers

🇻🇳 Vietnamese buyers bought 1,282 homes (av.$1.013m)

🇮🇳 Indian investors sealed deals on a further 1,460 homes at an average of $616K each 

The federal government has placed a temporary ban on foreign investors – including temporary residents and foreign-owned companies – from buying established Aussie homes until March 31, 2027, to ‘crack down on land banking’. It appears to have limited effect.

Property Management Conference, Melbourne – 27/28 October

👓 20 second read

Property Managers, it’s time to register for your annual peak event – PMC 2025.

This year, everybody is heading to Melbourne where River’s Edge at South Wharf will be our base for two days - the creative Docklands precinct of the CBD. Four dynamic speakers will assure that everybody grows their skills and appreciation of our operating environment challenges. 

Are you ready?

FN Bundaberg expands with FN Commercial division

👓 30 second read

FN Bundaberg (Qld) is proud to announce an exciting expansion of its services, officially launching as a First National Commercial office. This new chapter means the Bundaberg community can now access a full suite of commercial property services, alongside the residential and rural expertise the agency is already well known for.

Principal Justin Mayberry says the move is a natural progression for the agency.

‘We’ve always been focused on helping Bundaberg grow, and expanding into commercial real estate allows us to support local businesses and investors in even greater ways. Whether it’s buying, selling, leasing, or managing assets, our clients can now come to us for the complete real estate solution.’