The Blog

OPINION It is hard to go anywhere without hearing about Australia’s rental crisis. And for good reason, with rents soaring at record double-digit rates across much of Australia on the back of record tight rental vacancies.   Australia’s rental market initially tightened over the pandemic due to a desire for more space, the growing trend to working […]

Key takeaways 2023 is likely to be the year that our real estate markets reset and a new property cycle begins. But we’re not in for a property boom any time soon, and moving forward affordability will remain a big issue meaning our capital growth will be very fragmented depending upon local factors. The ability […]

The Banking Code Compliance Committee (BCCC) has revealed that it is conducting a follow-up review to check that banks have improved their practices since it released its 2021 loan guarantee report. The BCCC monitors banks’ compliance with the Banking Code of Practice, a rule book maintained by the Australian Banking Association (ABA) that sets out clear […]

To ensure Australia’s economy would avoid a recession, the International Monetary Fund (IMF) has called on the Albanese government to engage in broader tax reforms, including the overhaul of current property taxation systems. The global financial agency revised its growth projections for the country, with growth projected to slow from 3.6 per cent in 2022 […]

“It’s clear that 2022 has been a difficult year for the Australian real estate market,” says one BigLaw firm. Hamilton Locke has released its summer 2022 edition of Real Estate Markets Quarterly, revealing a number of market insights from the last quarter. Produced by Hamilton Locke partners John Frangi and Brendan Ivers, the report noted […]

First homebuyers in NSW could save tens of thousands of dollars off the cost of their home purchase if Labor is elected to government thanks to a new stamp duty policy launched by the state opposition on Monday. NSW Labor leader Chris Minns said more than 46,000 future homeowners would benefit from paying no stamp […]

Australia’s first multi-city region, the Six Cities Region, is being developed in New South Wales. A multi-city region, also known as a mega-region, establishes an integrated network of globally and locally connected cities. The Six Cities Region spans the Lower Hunter and Greater Newcastle City, Central Coast City, Illawarra-Shoalhaven City, Western Parkland City, Central River […]

As flooding impacts more NSW communities, new research from UNSW City Futures Research Centre, jointly commissioned by the Tenants’ Union of NSW along with Mission Australia, St Vincent de Paul Society NSW, Social Futures, The Salvation Army Australia, Australian Red Cross shows action needs to be taken to safeguard regional Australians against homelessness and displacement as severe weather events become more common. […]

Banning the practice of rent bidding will “give more people security and certainty so they can plan for their future”, the Premier added. Rent bidding — or where a landlord or agent invites, suggests, or asks tenants to increase their offer for rent for a property in order to secure it — will be outlawed […]

The $73.5 million Rezoning Pathways Program will see 10 land rezonings, mainly in Western Sydney, NSW Premier Dominic Perrottet said. The program is a part of the government’s larger $2.8 billion housing package, according to Minister for Planning and Minister for Homes, Anthony Roberts. The NSW government will assess certain state or regionally significant planning […]

The new bill aims to guarantee that payday lenders and consumer lease providers are not able to take more than 10 per cent of a person’s net income for loan repayments along with prohibiting these lenders from charging monthly fees for residual loan terms if the borrower repays early. In addition, the bill will see […]

Key takeaways There are many large and powerful institutions that have a vested interest in rising property prices. These include the government at all 3 levels as well as the banks. Government taxes and charges add 30% to the cost of new property. Property is too important to fail   There are many large and […]

Treasury Laws Amendment (2022 Measures No. 2) Bill 2022 has today passed both houses of Parliament. The bill lowers the age that individuals can make downsizer contributions to their superannuation from the proceeds of selling their house from the age of 60 down to age 55. The amendment will commence from 1 January next year. […]

The Australian Housing and Urban Research Institute (AHURI) highlighted that several tenancy law reforms in the past two decades rolled out by state governments, particularly in NSW and Victoria, have triggered concerns about disinvestment among landlords and investors being deterred from entering the rental market. To put the disinvestment claim to the test, researchers examined […]

In his budget statement on Tuesday, 11 May, federal treasurer Josh Frydenberg announced a budget deficit of $106.6 billion for 2021-22. The 2021 budget placed a strong emphasis on infrastructure spending (set to buoy property development). Similarly, funds have been allocated to the aged sector which is likely to spearhead investment in aged care homes. New subsidies […]

Retirement village contracts are different from standard property contracts. They outline the costs of residency, your rights as a village resident and the responsibilities of the village operators, among many other points. Read this short guide to find out how to compare contracts and what to look for before you sign on the dotted line. […]

There have already been quite a few media reports about the excellent decision about pets and strata earlier this week at the NSW Supreme Court. On Monday the Supreme Court of Appeal found that a strata by-law that places a ban on pets breaches NSW strata scheme legislation and is invalid. A blanket ban on pets, they found, is “harsh, unconscionable […]

Buying property off the plan is a popular way of entering the property market. This is particularly prevalent in large cities where property prices are soaring. However, you may have heard of the many horror stories surrounding buying off the plan. So what do you need to know when buying property off the plan? Read […]

They are the two little words home buyers have hated having to swallow for generations – stamp duty. Within days of a proposal by the NSW Government to scrap the unpopular tax, property industry insiders have been quick to point out the pros – and the cons – of an alternative.   Will the proposed […]

Many Australians have in recent weeks transitioned into working from home. Although employees may be saving on transport and eating-out costs, increases in internet usage and other utilities will mean an increase in household bills. However, the Australian Tax Office (ATO) has announced that some costs for working from home will be tax deductible. Here’s what you’ll […]