Lambo guy sets a $1 reserve, Building tomorrows leaders, Less than half of Build to Rent projects getting approval, + News and More

Good Morning from Elite Agent

Build-to-rent continues to gather momentum in Australia, but it is unlikely to be the housing crisis saviour, according to the REIA. The institute’s new build-to-rent report reveals the 2023 Budget factored in the sector unlocking 150,000 units of supply, as part of a push to build 1.2 million homes, yet of the 44,139 BTR units in the pipeline, just 43 per cent have approval. REIA President Leanne Pilkington says it’s a worrying equation. “BTR will take time to come online and our shortages are now,” she says. More here.

Today, we’re also covering

• The Block home with a shock reserve

• Brian White on creating competition and good leaders

• Perth house prices hit a new record

• Create personalised videos without a camera

• And much more!

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On our radar

The reserve is how low?

‘Lambo guy’ Adrian Portelli is set to auction House 5 from The Block 2023, with a reserve price of just $1. The five-bedroom, four-bathroom property, which was renovated by sisters Eliza and Liberty, on the hit TV show, originally sold to Adrian for $4.3 million. The indicative selling price for the Hampton East property is now $2.9M to $3.2M. Find out which agents have the listing here.

Today’s Feature

Creating competition: Brian White on building tomorrow’s leaders, core philosophies, and building market momentum

Did you miss the Elevate podcast on the weekend? Now’s your chance to catch up on the wise words of one of the doyens of the real estate industry - Ray White Group Chairman, Brian White. Brian sat down with Elevate host, Samantha McLean, to reveal how the group builds great leaders, why auctions aren’t just a sale method but a momentum driver and what founder, Ray White, would have really thought about AI. Discover that, and more, here.

Today’s Quiz

These mid-century modern floor lamps are ready to brighten up your Monday morning - but can you tell what’s fake and what’s real?

Brekky Browse

People are talking about these. Read up; join in!

Look who’s back in blue*
Andrea Brown rejoins Harcourts

New record for Perth house prices
Homes are being snapped up in just eight days

Where rents are rising the most
One city attracted a 4 per cent increase last month

AI has redefined personalised video
How to create a pre-appraisal message without a camera

Jeff Bezos’ triple treat
He has bought his third property in ‘Billionaire Bunker’

Put The Brief in your ears
with thanks to AI Powered Agents

Anything else?

Art and real estate go hand-in-hand

It was on this day in 1973 that one of the most influential artists of the 20th century, Pablo Picasso, died, aged 91. The Spanish artist is thought to have created about 50,000 artworks in his lifetime, including paintings drawings, sculptures and ceramics. Among his most famous works are The Weeping Woman and Portrait of Dora Maar, which were both painted in 1937. And according to Knight Frank’s Luxury Investment Index, artwork is the top performing luxury investment class and the shape and size of someone’s collection can directly impact the home they buy. More on that here.