REAL ESTATE – NEW SOUTH WALES – RESIDENTIAL

Plea for NSW tenancy laws to embrace email

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Original article by Michael Bleby
The Australian Financial Review – Page: 39 : 2-Feb-16

The New South Wales’ Residential Tenancies Act 2010 should be amended to reflect the growing popularity of electronic conveyancing. The state’s Real Estate Institute CEO Tim McKibbin says new forms of communication, such as electronic mail and text messages, are ubiquitous and this fact should be recognised by legislators. The institute expressed its views on this matter in a submission to the state’s residential tenancy laws review.

CORPORATES
THE REAL ESTATE INSTITUTE OF NEW SOUTH WALES

Six signs show the Sydney residential market has cooled

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Original article by Matthew Cranston
The Australian Financial Review – Page: 40 : 11-Nov-15

A number of factors suggest that growth in Sydney’s residential property market has slowed in 2015. The auction clearance rate has fallen from 89.2 per cent in May to a three-year low of 59.2 per cent. Likewise, the number days a property is listed before selling has risen from 25 in July to 28 in November, while there is also evidence of a widening differential between the reserve price of residential properties and the eventual sale price at auction.

CORPORATES
DOMAIN.COM.AU, RICHARDSON AND WRENCH PTY LTD, CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, AUSTRALIAN FINANCE GROUP LIMITED – ASX AFG, AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

Grocon to build first major Sydney apartment project in 15 years

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Original article by Mercedes Ruehl
The Australian Financial Review – Page: 41 : 17-Sep-15

Grocon has acquired a residential development site in the Sydney suburb of Epping for $A56.5 million. The property developer plans a high-density apartment development for the site at 30-42 Oxford Street, comprising 250 apartments. The site is located close to the Macquarie Centre.

CORPORATES
GROCON PTY LTD, JONES LANG LASALLE INCORPORATED

Sydney, Melbourne fast sellers

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Original article by Michael Bleby
The Australian Financial Review – Page: 3 : 17-Jul-15

CoreLogic’s data for private treaty sales in April 2015 shows that houses in Sydney were sold an average of 26 days after being put on the market, compared with an average of 31 days in May 2014. Likewise, the average number of days required to sell a home via private treaty sale in Melbourne fell from 43 to just 32. CoreLogic also reports that some 17,282 residential properties are currently for sale in Sydney, while 26,987 are on the market in Melbourne.

CORPORATES
CORELOGIC AUSTRALIA PTY LTD, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ

Sydney homes could hit $1m median before the year’s out

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Original article by Samantha Hutchinson
The Australian Financial Review – Page: 3 : 9-Apr-15

The Real Estate Institute of Australia estimates that Sydney’s median house price is $A882,000 at present, but SQM Research CEO Louis Christopher says it could top $A1m in the final quarter of 2015. Andrew Wilson of Australian Property Monitors also expects the median house price to reach this level soon. Recent data from SQM shows that the median asking price for houses in Sydney is now $A1.066m

CORPORATES
THE REAL ESTATE INSTITUTE OF AUSTRALIA LIMITED, SQM RESEARCH PTY LTD, AUSTRALIAN PROPERTY MONITORS PTY LTD, RP DATA LIMITED, CORELOGIC AUSTRALIA PTY LTD, BIS SHRAPNEL PTY LTD

Perisher deal may lift chalet prices

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Original article by Samantha Hutchinson
The Australian Financial Review – Page: 46 : 2-Apr-15

US-based Vail Resorts has bought the Perisher ski resort in New South Wales. Real estate agents expect the deal to result in higher property values in the alpine region. Figures from CoreLogic RP Data show that the median price for residential property in Jindabyne fell by 3.25 per cent between 2013 and 2014, to $A395,917. Only 17 transactions were made in this period

CORPORATES
VAIL RESORTS INCORPORATED, PERISHER BLUE PTY LTD, CORELOGIC AUSTRALIA PTY LTD, RP DATA LIMITED, ZIRTANIUM PTY LTD, ZIRKY REAL ESTATE, AMALGAMATED HOLDINGS LIMITED – ASX AHD, MERLIN ENTERTAINMENTS GROUP LIMITED

$9m sale smashes Coogee record

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Original article by Anna Anderson
The Sydney Morning Herald – Page: 6 : 8-Jan-15

A five-bedroom house has set a new record sale price for the beachside suburb of Coogee in New South Wales. The house, which features a swimming pool, cabana, five bathrooms and a temperature-controlled wine cellar was sold by lawyer Danny Simmons for $A9m. The median house price in Coogeee was $A1.85m in 2014

CORPORATES
CLIFFORD CHANCE, PHILLIPS PANTZER DONNELLEY, DOMAIN.COM.AU, FAIRFAX MEDIA LIMITED – ASX FXJ

Elderly Welfare Street tenant stands ground in eviction row

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Original article by Rose Powell
The Sydney Morning Herald – Page: 8 : 5-Jan-15

Real estate investment groups HBW1 and Centennial Property in mid-2014 acquired residential assets from the New South Wales Government. One of the tenants now facing eviction, John Higgins, and his legal representatives from the Inner West Tenants’ Advice & Advocacy Service dispute a claim by the Lands Legal firm that the client ceased to be a protected tenant when the property was sold in 1989 to the Sydney Olympic Park Authority. Higgins maintains that his father signed the original lease in 1948 and that it is still in force. The Civil & Administrative Tribunal will hear the matter in early January 2015

CORPORATES
NEW SOUTH WALES. CIVIL AND ADMINISTRATIVE TRIBUNAL, SYDNEY OLYMPIC PARK AUTHORITY, LANDS LEGAL PTY LTD, STRATHFIELD REAL ESTATE PTY LTD, CENTENNIAL PROPERTY GROUP PTY LTD, INNER WEST TENANTS ADVICE AND ADVOCACY SERVICE, HBW1

Lot release ‘too slow in NSW’

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Original article by Tim Binsted
The Australian Financial Review – Page: 18 : 26-Nov-14

Brickworks MD Lindsay Partridge believes that the limited supply of land for residential development is contributing to the rising cost of homes in New South Wales. He has urged the State Government to accelerate the release of new housing lots, arguing that it should be making 10 times more lots available than at present. Meanwhile, Brickworks achieved 14 per cent growth in revenue year-on-year in the first quarter of 2014-15

CORPORATES
BRICKWORKS LIMITED – ASX BKW, CIMB SECURITIES INTERNATIONAL (AUSTRALIA) PTY LTD

Ultra-luxury apartment unlikely to sell

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Original article by Samantha Hutchinson
The Australian Financial Review – Page: 5 : 31-Jul-14

The architecture firm responsible for designing Sydney’s Crown Casino tower proposes to reserve the top three floors for a single apartment. There has been media speculation that the luxury penthouse could fetch around $A100m, but some real estate agents question whether anybody would be prepared to pay such a figure for an apartment in Australia. However, CBRE’s Justin Brown and Savills’ Adam Ross say such a price is possible

CORPORATES
CROWN RESORTS LIMITED – ASX CWN, CBRE PTY LTD, SAVILLS (AUST) HOLDINGS PTY LTD, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, WILKINSON EYRE ARCHITECTS, SIMEON MANNERS PROPERTY