Neighbours joining together to ‘crowdsell’ for higher property prices Neighbours joining together to ‘crowdsell’ for higher property prices During 2015, the media was full of feel good stories of potential millionaires – the result of neighbours banding together to ‘crowdsell’ their homes to developers across Sydney. Fuelled by the demand from developers and low availability of land, the popularity of multiple selling – anywhere from two houses up to 20-strong ‘superlots’ – is […] Read More
Students to drive apartment demand in 2016 Students to drive apartment demand in 2016 The growth in international students in Australia will be a key driver of apartment demand in 2016, according to commercial real estate company, Colliers International. A recent story in the Australian Financial Review reported that investor interest in apartments may have cooled due to a lending clampdown but the rising international student numbers will fill the gap […] Read More
Modest growth in housing market likely in 2016 Modest growth in housing market likely in 2016 While residential property prices might fall in 2016, it will be limited to less than 10% with “little significant downside risk” to the housing market, ANZ has said in its latest housing update. According to a recent Australian Financial Review article, despite the headwinds facing the housing market though the second half of 2015, ANZ […] Read More
Bigger fines for foreign property breaches Bigger fines for foreign property breaches Tougher financial penalties now apply with the introduction of strict new rules around foreign property investment in Australia, according to a recent article in The Sydney Morning Herald. The Australian Taxation Office is now in charge of overseeing foreign residential property investment, with 50 compliance officers charged with investigating potential breaches of the law. According […] Read More
New Sydney suburb to be home for 30,000 New Sydney suburb to be home for 30,000 There are plans to rezone enough land for nearly 30,000 new residents in Leppington, an area about 50 kilometres south-west of Sydney’s central business district, according to a recent Sydney Morning Herald article. The area is currently sparsely populated and home to about 2000 people and semi-rural properties. Planning Minister, Rob Stokes said the suburb […] Read More
Major changes on the way for apartment dwellers Major changes on the way for apartment dwellers The days of a single apartment owner holding out against a developer are over in New South Wales after changes to strata title law were passed by state parliament this week, according to a recent newspaper article. The Business Insider Australia article reported that changes to 90 existing laws would come into effect in July […] Read More
Property market to slow rather than crash in Sydney and Melbourne Property market to slow rather than crash in Sydney and Melbourne A recent newspaper report notes that both NAB and Westpac have indicated that while there will be some downturn in the property market. Both Sydney and Melbourne will continue to see high single digit growth rates due to strong demand and limited supply. In a statement to the Sydney Morning Herald, NAB CEO, Andrew Thorburn […] Read More
Northern Campbelltown property prices soar due to developer demand Northern Campbelltown property prices soar due to developer demand The Macarthur Chronicle Campbelltown has reported record property price levels across the northern Campbelltown area due to developer demand for land along the railway corridor. An area that was once considered affordable, in Sydney terms, has recently seen prices soaring up to $2.2 million. Developer demand is driving the price increases following re-zoning of land […] Read More
Sutherland Shire LEP Sutherland Shire LEP Sutherland Shire Local Environmental Plan: What does it mean for the future of housing in the Shire? The Sutherland Shire Local Environmental Plan (LEP) that was gazetted 23 June this year sets the course for the development of the area over the next few years. In announcing the finalisation of the LEP a spokesperson for […] Read More
APRA does not currently agree with city specific lending constraints APRA does not currently agree with city specific lending constraints The Australian Prudential Regulation Authority (APRA) has indicated that they won’t support city specific regulations to take the heat out of the Sydney and Melbourne market. A city specific approach has been used by the New Zealand Reserve bank who have required Auckland investor buyers to have larger deposits in comparison to investor buyers in […] Read More
