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Regulation
AML reforms to cost conveyancers and lawyers $11 billion over a decade
Conveyancers, lawyers and real estate agents will have to stump an extra $11 billion over a decade, according to Shadow Government Services Minister Paul Fletcher.
News
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Property
Aussies paying more as rents spike across the nation
Sydney experienced the steepest rise in house rents followed closely by Perth, which had the highest increases for unit rents.
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Property
Councils with slow planning approvals should be named and shamed
Drastic measures are needed, as numerous surveys show the government’s Housing Accord is already lagging.
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Property
How can it take 289 days to wait for Development Approval?
Property firms and policy makers are highlighting DA delays and the impact on construction projects, as analysis of the NSW Planning Department reveals seven councils where approval takes 215 days or longer.
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Regulation
Fines of $18,500 for firms hiding payments to hackers
Businesses that fail to disclose ransomware payments could face fines of more than $18,500 under Australia’s first standalone Cyber Security Act.
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Economy
Aussie homes now worth $11 trillion
Australian homes have reached $11 trillion for the first time – but the speed of growth is slowing, according to latest CoreLogic data.
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Economy
Auction boom as housing market remains buoyant
Analysts are forecasting a busy October and a surge in November as a mixed bag of influences come into play for the spring selling season.
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Property
Worst year for new homes in a decade shows need for action on shortages
Low apprenticeship numbers will worsen the nation’s housing crisis if action is not taken immediately.
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Economy
New build apartments to grow by almost a quarter
Over the next 10 years, demand for housing is expected to benefit from a combination of population growth of 3.9 million and employment growth of 2.6 million with income rising by $36,000.
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Property
New data shows long road ahead for housing target
Australia is building 15,000 fewer homes than needed each quarter to reach the 2029 target of 1.2 million new homes by 2029, data from the Australian Bureau of Statistics shows.
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Economy
RBA sounds warning on international student cap
The Reserve Bank is warning a looming cap on international students could affect economic growth, as a parliamentary report examining the proposal was delayed.
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Economy
Consumers think the RBA’s interest rate hikes have ended
While pessimism still dominates, consumer sentiment read is the best since the RBA interest rate tightening phase began two and a half years ago.
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Property
Fresh pitch to break deadlock on home buyer help scheme
Scheme to allow 40,000 first-home buyers to access cheaper deposits through a shared equity scheme with the federal government – being able to put down a deposit of as little as two per cent – is back before Parliament.
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Economy
When will the Reserve Bank cut rates?
Eight of the country’s top economists on when they think the RBA will make a change to the cash rate.
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Property
Sharp fall in approvals for higher density homes
Master Builders Australia says new Australian Bureau of Statistics data for the month of August revealing a 6.1 per cent decline in the total number of new home building approvals is cause for alarm.
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Economy
Auction clearances decline six weeks in a row.
There are currently 2,007 capital city homes scheduled for auction, up 9.3% on last week when 1,836 homes were taken to auction, but substantially down on the same time last year when that figure stood 2,446.
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Property
Two surveys show rental growth slowing after a four-year surge
Rental growth is starting to ease after four years of runaway rises and prices climbing more than by 40 per cent, according to analysis by both Domain and PropTrack.
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Economy
Wealthy Australians prop up the $10 million-plus property market
Demand for houses heading towards the $20 million mark is strong, with local buyers and upgraders the most active in the prestige residential market, a new CBRE survey shows.
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Regulation
Avoid out-of-the-box AML compliance, conveyancers warned
Conveyancers must avoid generic anti-money laundering compliance programs when new rules are in force, AUSTRAC is warning as it rolls out new guidance.
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Property
Apartment-killer taxes in QLD lashed by Property Council
Queenslanders have lost out on 33,000 new homes and 10,000s of jobs to investment-killing taxes, according to Property Council executive director Jess Caire – a former conveyancer – who criticised the state government as the peak body released new research.
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Property
All signs point to a continued property slowdown
Australia’s sluggish construction market is facing even more headwinds, industry leaders are warning as new data from the Australian Bureau of Statistics shows the number of building approvals heading in reverse.