REAL ESTATE DEVELOPMENT – AUSTRALIA

Council brakes slow recovery

roymorgansocial Leave a comment

Original article by Rebecca Urban, Damon Johnston
The Australian – Page: 1 & 4 : 11-Jun-20

Federal Treasurer Josh Frydenberg says local councils should fast-track development applications in order to stimulate economic activity in the post-coronavirus world. He says the state and federal governments are helping to boost the construction sector, and local governments should do so as well. It takes an average of 70 days for development applications to be approved in Victoria – well above the statutory requirement of 60 days – and this had blown out to at least 120 days for some councils prior to the pandemic. The average number of days to approve a development application in New South Wales is 84 days.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY

High-rises spur surge in building approvals

roymorgansocial Leave a comment

Original article by Matthew Cranston
The Australian Financial Review – Page: 3 : 9-Jan-20

New figures show that there was an 11.8 per cent increase in building approvals in November, which was the strongest monthly growth since February. Approvals for high-density housing developments increased by 21 per cent in November, for an annual growth rate of six per cent. Tom Kennedy of JP Morgan notes that building approvals data tends to be volatile, but he adds that the latest figures suggest that approvals have begun to stabilise.

CORPORATES
JP MORGAN AUSTRALIA LIMITED, BIS OXFORD ECONOMICS PTY LTD, RESERVE BANK OF AUSTRALIA, URBAN TASKFORCE AUSTRALIA LIMITED, WESTPAC BANKING CORPORATION – ASX WBC

Plea to RBA, APRA: Let banks lend

roymorgansocial Leave a comment

Original article by Ben Wilmot
The Australian – Page: 17 & 26 : 16-May-19

Mirvac, Stockland and Dexus are among the property developers that have called for banks’ lending rules to be relaxed in the wake of a downturn in the residential construction sector. Representatives of major property group have held talks with the Australian Prudential Regulation Authority and the Reserve Bank, with some developers being forced to shelve apartment projects. UBS recently forecast that growth in housing credit will fall to just two per cent year-on-year by 2020.

CORPORATES
MIRVAC GROUP – ASX MGR, STOCKLAND – ASX SGP, DEXUS – ASX DXS, CHARTER HALL GROUP – ASX CHC, PROPERTY COUNCIL OF AUSTRALIA LIMITED, apra use AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, RESERVE BANK OF AUSTRALIA, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, UBS HOLDINGS PTY LTD, AUSTRALIAN LABOR PARTY

Foreign money needed for build-to-rent funds, says EY

roymorgansocial Leave a comment

Original article by Nick Lenaghan
The Australian Financial Review – Page: 39 : 1-May-18

Federal Treasurer Scott Morrison announced restrictions on the purchase of residential property by managed investment trusts in September 2017. Luke McIntosh of Ernst & Young claimed at a property forum on 30 April that the restrictions make it hard to attract the foreign capital needed to get the build-to-rent sector off the ground in Australia. Build-to-rent involves the development of housing from which investors make their profit by retaining it for renters rather than selling it.

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, ERNST AND YOUNG, SALTA PROPERTIES PTY LTD

Apartments market warning

roymorgansocial Leave a comment

Original article by Lisa Allen
The Australian – Page: 1 & 2 : 17-May-16

BPM CEO Jonathan Hallinan says the stricter lending requirements for apartment buyers has resulted in a downturn in off-the-plan sales in Melbourne. Matrix Property director Andrew Antonas adds that a crackdown on shifting money out of China and lending restrictions by Australian banks has reduced demand for apartments in Sydney among Chinese buyers. Some overseas developers are also seeking to offload their development sites due to the difficulty in obtaining financing.

CORPORATES
BPM PTY LTD, MATRIX PROPERTY GROUP PTY LTD, CORELOGIC AUSTRALIA PTY LTD, RALAN PTY LTD

Apartment crunch tipped for two cities

roymorgansocial Leave a comment

Original article by Robert Harley
The Australian Financial Review – Page: 33 : 16-Dec-15

A new report from the Commonwealth Bank warns of a looming apartment glut in the Melbourne and Brisbane CBDs from 2016, when a large number of apartment projects are slated for completion. The CommBank Property Insights report notes that about 80,000 apartments are under construction in Australia’s major capital cities, while an additional 117,000 have been proposed.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Talk of GST increase spooks industry leaders

roymorgansocial Leave a comment

Original article by Robert Harley
The Australian Financial Review – Page: 36 : 10-Sep-15

An increase in the rate of Australia’s goods and services tax (GST) would have a negative impact on the property sector. Matthew Cridland, GST partner at law firm DLA Piper, warns in a briefing document that less supply could be expected from housing developers and retirement village operators if the GST rises to 15 per cent. Shopping centres would also be negatively influenced.

CORPORATES
DLA PIPER, PROPERTY COUNCIL OF AUSTRALIA LIMITED, ACIL ALLEN CONSULTING PTY LTD, NEW SOUTH WALES. DEPT OF PREMIER AND CABINET

Red-hot market means the only way is up for apartments … way up

roymorgansocial Leave a comment

Original article by Matthew Cranston, Michael Bleby
The Australian Financial Review – Page: 1 & 10 : 27-Nov-14

A number of residential property developers have proposed to build apartment towers of at least 260 metres in Australia’s major capital cities. AMP Capital and Billbergia plan to construct a 300-metre tower in Brisbane, while Fragrance Group intends to build a 302-metre apartment tower in Melbourne. In Sydney, Mirvac is teaming up with Coombes Property Group to develop a 260-metre apartment tower. The boom in apartment development is in response to factors such as Australia’s growing population and the trend toward inner-city living

CORPORATES
AMP CAPITAL INVESTORS LIMITED, AMP LIMITED – ASX AMP, BILLBERGIA PTY LTD, FRAGRANCE GROUP LIMITED, MIRVAC GROUP – ASX MGR, COOMBES PROPERTY GROUP, ASPIAL CORPORATION LIMITED, UEM SUNRISE BERHAD