Looking for a quick catch-up on the buzziest stories of the week? Here’s Inman Top 5, the most essential stories, according to Inman readers.
The superseding indictment filed in court on Thursday adds one count of sex-trafficking of a minor, among other charges, and brings the total victim count up to six from the two identified in the initial indictment.
CoStar CEO Andy Florance on Thursday said the “Boost” tool it rolled out on April 29 will now be available for brokers and homeowners who have been thwarted by Zillow’s private listing ban.
As if listing agents don’t have a hard enough time getting sellers to make a few market-friendly improvements to their home, reports from the construction industry suggest the Trump administration’s tariff policy is going to raise the hurdle even higher.
CoStar Group is using Boost, its new Homes.com marketing feature, in an attempt to counter the bans by Zillow and Redfin on listings that are publicly marketed prior to being entered into the MLS.
On Thursday, CoStar Group CEO Andy Florance told Inman News that Boost will be free for listings impacted by the Zillow and Redfin bans.
The firm unveiled Boost during its first-quarter 2025 earnings call with investors and analysts in late April. During the call, Florance described Boost as a new marketing option for a single listing.
“For agents with unpredictable income and not yet ready to commit to an annual membership, they can boost one listing via e-commerce,” Florance said on the call.
“Just like membership, once ‘boosted,’ their listing sources at the top of search results, receives a Matterport (3D virtual tour) and is retargeted across the internet,” he added. “This is a low-risk purchase option for an agent because they can go into a listing presentation, use the Boost as a differentiator, but they only have to pay for it when they win the listing and have offsetting commission revenue.”
Agents can “boost” a listing for a one-time fee of $260. The listing will be included on the first page of a buyer’s search in a neighborhood or community. The boost on the listing will last until a sale closes.
According to CoStar, boosted listings also get priority in Homes.com’s targeted ads across all social media platforms and sites like ESPN or The New York Times.
In an interview with Inman, Florance said that Homes.com “is going to support any agent who gets blackballed or blacklisted on Zillow, and boost their listing.”
“We don’t think it’s right to ban people’s listings for your economic interest,” Florance said.
Zillow, a staunch supporter of the National Association of Realtors’ (NAR) Clear Cooperation Policy (CCP), announced in early April that it was banning all listings that were publicly marketed prior to being entered into the MLS. Less than a week later, Redfin announced a similar policy.
“Redfin.com will not publish any listings that have been publicly marketed before being shared with all real estate websites via the MLS,” Redfin CEO Glenn Kelman said in a statement.
CoStar Group and Florance immediately pushed back, with Florance calling Zillow’s move “a pure power play of epic proportions.”
“Zillow is asserting that they — not NAR, not your brokerage, not you the listing agent — and not even the homeowner whose house it is and is paying the commission — should decide how a listing is marketed,” Florance wrote in an open letter to agents.
“This isn’t about protecting consumers. It’s about protecting Zillow’s ability to profit from your listings by selling your leads to competing agents.”
The home at 33 Martin Cres, Coconut Grove. Picture: Supplied
A century-old troppo-style home chock-full of character and charm is going under the hammer in Coconut Grove, sitting on the water at the end of a quiet court.
The four-bedroom home sits on an 837 sqm block at 33 Martin Cres, Coconut Grove, backing onto a seasonal waterway and close to parklands and walking paths.
Selling agent Andrew Harding of Ray White Darwin said the house began its life as a classic railway cottage in Fannie Bay around 1923 and was shaped by the generations of Top Enders who have called it home.
“This residence has evolved into what may be the finest modern Troppo home in Darwin,” he said.
“A seamless fusion of heritage and contemporary design, it stands as a true testament to tropical architecture at its best.”
The property is full of old Darwin charm. Picture: Supplied
The modern kitchen sits between the dining and lounge rooms. Picture: Supplied
The house was moved to Martin Cres in 1981 before it was extended and renovated, with an upper level added in 1983.
The home has banks of louvres, timber floors, exposed timber beams and high ceilings throughout.
There is easy indoor-outdoor flow with multiple balconies and outdoor living spaces.
A contemporary kitchen has stone sink, black cabinetry and a feature window, while an elevated dining space looks out over the kitchen and living areas.
The lounge opens to a small deck and looks out over the pool and lush landscaping.
The rooms are open and spacious. Picture: Supplied
The ensuite has a resort feel. Picture: Supplied
The two oversized bedrooms on this level have private balconies while one has a luxury ensuite with bathtub and treetop views.
There is also second living area and family bathroom on this level.
Internal stairs lead up to a third bedroom that could be used as a home office or living space.
Under the house there is a generous entertaining space, a bathroom and a storeroom.
Separate from the house is bungalow with deck and bedroom space.
The block has lush tropical gardens, an in-ground pool, electronic gate, pedestrian entry and side access.
The home is close to the Nightcliff foreshore, markets, schools and shops and a short drive to the Darwin CBD.
The pool sits among lush gardens. Picture: Supplied
The property comes with a separate bungalow. Picture: Supplied
PROPERTY DETAILS
Address: 33 Martin Cres, Coconut Grove
Bedrooms: 4
Bathrooms: 3
Carparks: 4
Auction: Wed, May 21, 5.30pm
Agents: Andrew Harding, 0408 108 698, Evie Radonich, 0439 497 199, Ray White Darwin
The post House of the week: Re-imagined classic appeared first on realestate.com.au.
Surfers Paradise could become a $9 million suburb by 2030 if the extraordinary growth of the past five years were to continue.
New modelling by PropTrack, based on trends since the pandemic boom, reveals just how far Gold Coast property prices might climb unless the market moderates within the next five years.
The forecast projects values more than doubling across some of the city’s most popular beachside pockets as well as the most affordable unit markets.
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Houses in the Glitter Strip capital of Surfers Paradise were tipped to soar from the current median of $4m to a staggering $9m by 2030 — an increase of 126 per cent.
A similar surge in blue-chip Mermaid Beach would see homebuyers fork out $6.46m, up from $3.2m now.
The modelling identifies 16 Coast suburbs where median house prices could top $3m, including Broadbeach, Bonogin, Miami, Palm Beach, Benowa and Reedy Creek.
In traditionally more affordable areas like Nerang, Southport, and Labrador, unit prices are projected to rise to about $1m.
23 Diplacus Drive, Palm Beach is for sale in the popular suburb
An apartment in Labrador, for example, would climb from $685,000 to $1.29m — up 88 per cent.
Statewide, the current typical home price of $838,000 across all houses and units would surge 84 per cent, or $689,572, to $1.53m.
PropTrack senior economist Angus Moore said growth would continue across the nation’s property markets, albeit not at the bullish pace recorded post-Covid.
While the projections were hypothetical, they underscored the dramatic shift in property values since 2020.
“Given how challenging housing affordability is at the moment — last year was, on our measures, the worst in at least three decades — that’s obviously favouring more affordable areas,” Mr Moore said.
The price of a unit in Nerang would rise to $1m, if recent growth continues
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He said demand had shifted toward cheaper capital cities and outer-suburban pockets.
“Queensland’s been one of the big beneficiaries over the past five years. It’s seen a lot of interstate migration, particularly from New South Wales and Victoria… and that’s driven incredible growth, especially in regional Queensland.”
The Gold Coast’s enduring appeal, bolstered by lifestyle factors, ongoing infrastructure developments, and economic opportunities, continues to drive demand, according to local agents.
First National Surfers Paradise agent Russell Rollington said the $9m projection for the Glitter Strip capital was “an ambitious estimate”, but “definitely possible” given the performance of the past five years.
Labrador has emerged as another property hotspot
“Prime absolute beachfront and waterfront properties are leading the charge and they are only becoming more sought after as the population increases,” Mr Rollington said.
He recently sold a Surfers Paradise sub-penthouse off-market for $7m — more than double its 2020 sale price — to a Sydney buyer who had holidayed on the Coast for 25 years and decided to make the move fulltime after retiring.
“Demand is still stronger than supply — we can’t see that changing anytime soon.
“Genuine buyers are keen to get their foot in today as most feel prices will only continue to increase. I speak with buyers all the time from the other states and overseas, and they say it is their dream to move to the Gold Coast, so Surfers Paradise has a bright future.”
Apartments within the Jewel towers at Surfers Paradise are selling for between $1.6m and $7m
Buyers agent Lauren Jones said the modelling was based on “an unprecedented property boom” which was unlikely to be repeated.
“But then again, back in the day people were paying $20,000 for a house and never could’ve imagined a house costing even $100,000,” she said.
Ms Jones said the projections didn’t stack up against income data. For example, SQM Research pegged weekly family income in Logan Central south of Brisbane at $1,423 by 2026, while estimated repayments on an 80 per cent loan at 6.5 per cent interest would total about $1,804 per week, based on the PropTrack price forecast.
The post Forecast shock: Surfers Paradise home prices to hit $9m by 2030 appeared first on realestate.com.au.
Trent and Samantha Smith and their twin boys, Leo and Luca, 2, and Hunter Winkler-Booker 11yrs. Picture: Steve Pohlner
Tow truck driver Trent Smith and his wife Sammy had a long-term plan to save for a home deposit, but surging prices pushed them out of their hometown.
The couple, both fulltime workers with two-year-old twin boys and an older son, hoped to buy in Logan, on Brisbane’s southern fringe, but struggled to find anything decent within their $600,000 budget.
“We were stuck with a certain amount we could spend, and it was getting more concerning as we were looking in Logan where we lived. It seemed like every week the properties were getting worse or smaller for the price you paid,” 29-year-old Mr Smith said.
The family had a long-term savings plan. Picture: Steve Pohlner
They widened their search westward after routinely missing out on the few suitable properties available locally as rival buyers offered $50,000 to $100,000 above asking price.
The couple eventually secured a property in One Mile, Ipswich, on a 642 sqm block. The centrally located three-bedroom, one-bathroom home was move-in ready, a big backyard for the kids to play, and was affordable at $600,000.
“I always thought the place had a bad rap, but after living there the last month, I’m glad I agreed,” Mr Smith said. “I was worried, but Sammy really liked the place from the get-go.”
They were able to fast-track their plans by consulting a mortgage broker about low-deposit schemes for first-home buyers. Picture: Steve Pohlner
Mr Smith is a self-employed contractor who was able to transfer to a local branch of the company, while Ms Smith, 34, now commutes to Slacks Creek for work and daycare.
“It is a compromise but if you can get into a home, it’s worth it,” he said.
They worked with mortgage broker Tristan Vercoe, of Fortifi Finance, to secure a loan requiring just a 5 per cent deposit through the government’s First Home Guarantee scheme.
“Most self-employed people think they will have to wait two years to get into a home, but if you get the right team working together you can get it done in six months with some forward planning, like we were able to do for Trent and Sammy,” Mr Vercoe said.
They broadened their search as prices kept rising. Picture: Steve Pohlner
He said getting on the property ladder required a positive mindset but often also a reality check.
“Instead of focusing on the opportunities they don’t have, the people who are successful are looking at the cards they’ve got and making the most of it.
“Trent and Sammy know this isn’t their forever home, but they have already manufactured equity in that property by upgrading the floors and they are so happy,” Mr Vercoe said.
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PropTrack modelling paints a stark picture of how far affordability has shifted in the past five years, by projecting 2030 home prices if recent growth continues at the same pace.
A typical house in Logan Central, now priced at $657,000, would hit $1.5m, based on 129 per cent growth since 2020.
One Mile, while currently slightly more affordable at $600,000, was on a similar growth trajectory of 134 per cent – with a projected median of $1.405m if the trend persists over the next five years.
The post Blue-collar squeeze: Logan locals priced out, pushed west to buy appeared first on realestate.com.au.
Median house prices across much of Melbourne are set to rise by six figures in the next five years, PropTrack projections show.
Family-friendly Melbourne suburbs are projected to lead the city’s charge for home price growth, with six-figure bonuses tipped for house values over the next five years.
Dozens of areas including Lower Plenty, Diamond Creek, Beaconsfield, Romsey and Mentone are set to outperform blue-chip areas like Toorak within the time frame, based on PropTrack estimates.
Realestate.com.au’s research arm has calculated the typical home value for each Victorian suburb and town in 2030, if growth follows the same patterns it has within the past half-decade.
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The data shows Toorak’s $4.71m median house price is set to increase by $220,000.
But it would be eclipsed by gains of more than $350,000 in medians from Aberfeldie to Hurstbridge.
The city’s million-dollar club is also expected to swell with more than 50 new suburbs including Taylors Hill, Berwick, Heidelberg Heights, Altona North and Reservoir to be added.
Melbourne-based buyers’ advocate Emily Wallace said the family-friendly suburbs’ growth forecast would reflect a domino effect of people wanting more land moving further from the city.
“I don’t necessarily mean first-home buyers, but family home buyers who are happy to go to the suburbs to get the yard for the kids,” Ms Wallace said.
INTERACTIVE: SEE WHAT HOMES WILL BE WORTH IN EACH SUBURB
She said school zones, crime rates and safety were top of mind for many home seekers.
“There’s also a fair amount of people not wanting the areas of the activity growth zones where development could potentially ruin the look and feel of a suburb,” Ms Wallace said.
Since last year, the Victorian government has identified more than 60 areas for mid- and high-rise development, many close to train and tram zones, to address the need for more housing with Melbourne’s population predicted to hit 6.2 million by 2030-31.
This three-bedroom house at 198 Main Rd, Lower Plenty, is for sale with a $1.25m-$1.375m asking range. The suburb’s $1.578m median house value is projected to hit $2.456m by 2030, a rise of more than 50 per cent, according to PropTrack.
Melbourne-based buyers’ advocate Emily Wallace. Picture: Supplied.
At 4 Diamond Views Drive, Diamond Creek, this house is on the market with $1.19m- $1.26m price expectations. The area’s $1.1m median house value is expected to reach $1.613m within the next five years.
Real Estate Institute of Victoria president Jacob Caine said the activity centre plans could make areas like Brighton accessible for buyers who would otherwise be locked out of these markets.
“You can bet that young people out there that have been really struggling to get a foot on the property ladder would absolutely jump at the opportunity to have a little piece of paradise, whether that’s in Brighton or Camberwell or Footscray or wherever they would like to live,” Mr Caine said.
Real Estate Institute of Victoria president Jacob Caine. Picture: Supplied.
With four bedrooms, 42 Little John Rd, Warranwood, has a $1.2m-$1.29m price tag. The suburb is set to be among Melbourne’s top performers of the next five years, with its $1.355m median house price forecast to increase to almost $2m by 2030.
According to PropTrack, Melbourne’s future high-performing suburbs include Lower Plenty where the $1.578m median house value is expected to increase by $887,000 to hit $2.465m.
Diamond Creek’s $1.1m median is slated to stack $513,000 on to reach $1.613m.
Ray White Eltham and Diamond Creek director Shane Leete pointed to a 2019 list of Melbourne’s family-friendly suburbs put together by home loan platform Lendi that was topped by Diamond Creek, based on factors including the number of schools, open spaces and crime data.
Mr Leete said the suburb experienced massive growth during 2020 to 2022’s pandemic lockdowns and then slowed.
But February’s rate cut and last week’s election have boosted confidence in the market.
“But over … the next two to three years prices will be back up to where they were in 2022,” Mr Leete added.
19 Fulham Grove, Reservoir, is a two-bedroom house with a $900,000-$980,000 asking range. The suburb’s $888,000 median house value is tipped to soar to $1.044m across the next five years.
PropTrack’s economics executive manager Angus Moore says that Melbourne remains relatively affordable, compared to other Australian capital cities with a medium-priced home in Adelaide more expensive than in Melbourne. Picture: Supplied.
Overall, Greater Melbourne’s current $855,000 median house price is forecast to hit $1.001m by 2030, lower than Brisbane’s $1.54m and Adelaide’s $1.474m.
PropTrack’s economics executive manager Angus Moore said Victoria’s capital had not experienced as much growth as Australia’s other states within the past five years.
“Part of the story is the fact Melbourne does just build a lot more homes than other parts of the country, particularly out in Melbourne’s west,” Mr Moore said.
“The fact that there is more supply has helped to keep housing more affordable.”
PropTrack’s research, which projected growth based on trends over the past five years, also hinted there could be prices rises along the Mornington Peninsula — however this could have been skewed by the unprecedented boom during the Covid pandemic.
-Additional reporting by Lydia Kellner
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The post PropTrack: See what your suburb will be worth in 2030 – some Melbourne areas set for massive six-figure growth appeared first on realestate.com.au.
Sydney houses will cost an average of $2.4m by the end of the decade – nearly $1m higher than current prices – if they continue growing at the same rate as the past five years, new price modelling has revealed.
The research by PropTrack examined what prices would be across every capital city and individual suburb if markets continued on their current trajectory, showing prices in many suburbs were on track to double in just five years.
The study has laid bare the kind of jaw dropping market conditions Sydneysiders will face unless there is a significant increase in housing supply.
INTERACTIVE: SEE WHAT HOMES WILL BE WORTH IN YOUR SUBURB BY 2030
Another five-year period of growth like the one experienced between 2020 and 2025 would leave Sydney house prices more than double those in Melbourne, despite a similar population and economy.
Tom and Bridie Studholme, with kids Henry and Margot, are selling their Marrickville home to partly to escape Sydney’s soaring prices. Picture: Jane Dempster
Sydney would also be an average of close to $1m pricier than Brisbane – even with the 2032 Olympics forecast to give the Queensland capital a spike in property value growth.
Apartment prices meanwhile would largely tread water if recent trends were repeated, increasing by a comparatively more modest pace of about $80,000 over the next five years, the data showed.
The average apartment buyer would be paying about $880,000 in 2030, up from $796,000 currently.
REA Group economist Angus Moore warned that past performance was not an indicator of future growth but he noted that many of the trends that drove up prices over the past five years remained entrenched in the market.
This included a shortage of housing, buoyant buyer demand, strong population growth and high levels of employment.
Rapid price gains over recent years have also given existing homeowners a treasure trove of equity to fund their next home purchases, driving a strong upgrader market.
A crowd at a recent Sydney auction: buyer demand is expected to say high so long as home building remains sluggish. Picture: Damian Shaw
“We are expecting that we’re going to continue to see home prices grow this year,” Mr Moore said.
“The reason for that is that we’re expecting to see interest rates falling, and that’s going to boost borrowing capacities.”
Sydney suburbs where house or unit prices would double if they continued growing at the same rate included Sylvania Waters in the Sutherland Shire, Waverley in the eastern suburbs, and Warrawee, on the north shore
Other doubling suburbs were in the outer southwest, including Denham Court, Oakdale and Leppington, according to the PropTrack modelling.
Mr Moore said a common theme in other areas that outperformed the market was relative affordability: the cheaper prices grew faster because they appealed to a broader buyer demographic.
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A unit in this building on Henrietta St in Waverley recently sold for $2.95m.
Local housing supply was also a factor. Suburbs more heavily supplied with apartments tended to see slower growth while those with constrained land supply generally had sharper price rises.
Mr Moore pointed to Melbourne’s softer home price growth over recent years as an example of why more housing was urgently needed.
“A stat I like is that a median priced home in Adelaide is actually more expensive than in Melbourne. It’s a pretty wild state of affairs when you consider how much bigger Melbourne is.
“Part of the story is the fact that Melbourne does just build a lot more homes than other parts of the country … more supply has helped to keep housing more affordable.”
Prospects of further price rises in Sydney have elicited mixed feelings from homeowners.
REA Group economist Angus Moore said rate cuts would push up prices.
Marrickville residents Tom and Bridie Studholme said frantic price rises were part of the reason they’ve decided to sell their unit on Sydenham Rd at auction on May 31 and move to Newcastle.
Mr Studholme said they wanted to upsize and felt like as long as they remained in Sydney they would never be able to afford the kind of larger house they wanted.
“Growth has been crazy,” he said. “We love our area and it’s a fantastic unit but we ruled out buying a bigger house in Marrickville pretty quickly.”
Adrian Tsavalas, director of inner west real estate group Adrian William, said it was worth remembering that prices that seemed high today would become normalised.
“If you take somewhere like Marrickville, the conversation used to be that you wouldn’t be able to find a house for under $1m,” he said. “That same conversation is now about $2m. It is only a matter of time before it becomes $3m.”
Source: PropTrack
Mr Tsavalas added that buyer confidence was improving. “In a rising market buyers will be more courageous with their offers … a lot of people are expecting prices to go up later this year as interest rates are cut.”
Ray White chief economist Nerida Conisbee agreed that prices would continue to rise but she noted that the lending climate may not be as generous as it was at the start of the decade.
“That was an extraordinary period,” she said. “We saw interest rates close to zero and that pushed up prices, but it’s doubtful we will see that again.
“A slowing global economy will encourage more rate cuts but they won’t be as low as before. Lower rates will support prices this year but beyond that it’s hard to predict.”
The post Home prices in 2030: what houses or units will cost in each suburb appeared first on realestate.com.au.
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