Conveyancers and lawyers in NSW get update on climate guidelines
Conveyancers and real estate lawyers have been given new climate risk guidelines by the NSW Law Society telling them to seek expert help when necessary. The new NSW Law Society Guidance on Climate Risks highlights three key pointers for solicitors involved in property transactions. It also warns them against giving advice where they are not […]
<strong>Queensland properties worth $13m seized in AML operation</strong>
Seven waterfront properties, cash, cryptocurrency, and bank funds have been seized by the AFP following a money laundering investigation on the Gold Coast. A total of $15.6 million in assets have been confiscated by an AFP-led taskforce targeting money launderers using Australian real estate to wash cash. The AFP restrained waterfront properties, a high-rise unit, […]
RBA rate hold not enough to spur housing market
Economists and industry analysts say the RBA decision to keep the cash rate at 4.35 per cent will not have a material influence on the sector. Easing inflation, soft economic growth and a gradual loosening in labour markets was enough to stave off another rate hike, according to CoreLogic’s Tim Lawless. But it’s not enough […]
<strong>Productivity Commission needs to look at cost of building</strong>
Close to half of the cost of a new house and land package is government taxes, fees and charges, according to the Housing Industry Association, which is calling for an inquiry. The HIA’s chief economist Tim Reardon says the government should urgently review productivity constraints. His comments come as the Productivity Commission confirmed it is […]
Borrowers should escape a 14th RBA rate rise after soft inflation numbers
Borrowers can breathe a sigh of relief as highly-anticipated inflation numbers landed soft enough to dissolve fears of another interest rate hike. Poppy Johnston in Canberra The annual rate of headline inflation did accelerate, however, rising to 3.8 per cent, up from 3.6 per cent, marking the first increase in the consumer price index in 18 […]
<strong>Rent increases now limited to once-a-year in WA</strong>
Rental reforms stopping landlords from asking for twice-a-year increases came into force on Monday as other states toughen tenant laws. The government measures also mean pets and minor modifications will be allowed in most rental properties in the state. These latest moves follow a clampdown on landlords forcing would-be tenants into bidding wars. NSW tenants […]
Conveyancers will need to ask uncomfortable questions under new AML reforms
Queensland Law Society chief executive Matt Dunn said the Tranche 2 reform of Australia’s AML legislation was one of the biggest challenges for the profession in a decade. Under the changes, 100,000 property professionals will be required to find out much more about their clients in future – and be prepared to blow the whistle […]
<strong>Peak property bodies in policy push ahead of QLD election</strong>
Both the Property Council and Real Estate Institute of Queensland (REIQ) have put forward what should be top of the agenda for successful candidates after the October election. Property Council of Australia Queensland Executive Director Jess Caire called on 2024 candidates to focus on the housing crisis. Increased home ownership for more Queenslanders should be […]
Record high rents spur small jump in first time home buyers
Record rental prices have spurred those with the means to jump on the property ladder, new data shows. First home buyer loans increased by 6.2% over the year to May 2024, according to the latest PropTrack rental report. But record low vacancy rates mean the national average of $600 a week – an increase of […]
Three new reports predict up to 370,000 shortfall in 2030 homes target
Forecasts by property and housing bodies suggest the National Housing Accord’s ambitious 1.2 million target is well wide of the mark. Latest Australian Bureau of Statistics data showing a sharp decrease in completions – from 45,643 in the December quarter to 41,329 in the March quarter – prompted the Property Council of Australia (PCA) […]
