Residential cash purchases on the rise, Devastating landlord insurance claims, Island paradise hits the market, +news and more

“They said it”

Good Morning from Elite Agent

More than $120 billion worth of property was purchased in Australia’s eastern states with cash in 2023. According to PEXA’s Cash Purchases Report, 28.5 per cent of properties in Victoria, NSW and Queensland were bought without a mortgage last year, up by 1.5 per cent on 2022. The report revealed cash property purchases in the three states totalled $129.6 billion, which was up from $127.7 billion a year earlier. Discover where the most properties are paid for with cash, and who’s buying them, here.

Today, we’ve also got for you

• National median house price climbs

• Unusual landlord insurance claims

• Kylie Davis’ role with REACH

• Victor Island to go under the hammer

• And much more!

Let's get to work 🚀

On our radar

Going up

The national median house price has risen to $1.005 million, according to the latest Real Estate Market Facts report from the REIA. Institute President Leanne Pilkington said median house prices in Sydney, Brisbane, Adelaide, Perth, Hobart and Canberra had risen in the December quarter, but dropped in Melbourne and Darwin. More here.

Together with Kolmeo + Elite Retreat

What's the difference between an average year and a really great year or even a pivotal year in your business? Usually, it's not a dozen or more things—often, it is just one or two genius moves. That is our theme for Elite Retreat this year, which will be held at the stunning Intercontinental Hayman Island resort.

Our speakers and invited guests will reveal their genius moves, from leadership to marketing and financial moves, and also the moves they wish they had made but missed! Make your genius move by putting 11-14 August in your diary and securing your registration here.

Today’s Feature

Little Real Estate’s unusual landlord insurance claims

For some landlords, insurance is just another bill that costs too much. But it can prove very valuable if, and when, things go wrong. In today’s feature, Sharon Fox-Slater checks in with Little Real Estate to study just six of the 850 claims they’ve paid out to the agency over the past five years, including hail damage, pet damage and lost rent from a tenant that wouldn’t pay. More here.

Today’s Trivia

Have you enjoyed the trivia this week? Should we keep it going?

In case you were wondering about yesterday, the toilet pan just sitting in the middle of the floor was the giveaway 😅

Brekky Browse

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

Kylie Davis’s new role at REACH *
Kylie will coach and mentor this year’s PropTech cohort

Own a slice of paradise
Victor Island is going to auction

There’s pain but little gain
WA leads the nation in rental hardship

Cracking the code to success
What you must do to generate a real estate breakthrough

Spend a night at Mr & Mrs Smith’s hideaway
The villa from the TV series series is on HomeToGo

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

Anything else?

Fur-tastic stress relief

If this week’s been a bit of a testing one and you’re looking for a way to lower your stress levels, you might want to consider patting your dog (if you have one). Scientists from Konkuk University, in South Korea, have scanned the brains of 30 people as they groomed, fed and played with a four-year-old poodle - and found they, "reported feeling significantly less fatigued, depressed and stressed after all dog-related activities". But if patting a dog isn’t your idea of zen, then we’ve got some more hobbies you can try to help you stress less, here.