Icons/Ionic/Social/social-pinterest

Inside track: Property & Real Estate

20 November 2018

#Property & Real Estate

Inside track: Property & Real Estate

In the media

Commonwealth

Housing finance numbers tumble
The September 2018 housing finance figures released by the Australian Bureau of Statistics show the number of loans for housing continues to decline, according to the Real Estate Institute (09 November 2018).  More...

Airbnb not significantly hurting rental affordability in Sydney and Melbourne
Airbnb isn't making rental affordability "significantly" worse, but it is reducing the number of properties that are available for long-term renters in Sydney's and Melbourne's inner-city and beachside suburbs, a new report shows (07 November 2018).  More...

RBA: Low rates offer support for housing market slowdown
The RBA’s resolve to keep the official cash rate on hold at 1.5 per cent, for a record 27 months, is expected to continue offering support to the nation’s economy at its current rate setting. As Sydney and Melbourne’s housing markets continue to ease, nationwide measures of rent inflation remain low (07 November 2018).  More...

Major bank buys out property exchange PEXA
One of the big four banks has announced that it has acquired property platform PEXA as part of a consortium, which it claimed “represents our continued commitment to support the property industry” (07 November 2018).  More...

REIA calls for holistic approach to property taxation
The Real Estate Institute of Australia welcomes the recent contribution by the Master Builders Association and the Housing Industry Association to the understanding of the economic impacts of changes to current arrangements for negative gearing and capital gains tax on property (01 November 2018).  More...

Federal Court outcome on Emissions Reduction Fund case
The Federal Court has handed down its decision in the case of Country Carbon Pty Ltd v Clean Energy Regulator (01 November 2018).  More...

CPI continues to be good news for home buyers and renters
The September 2018 quarter CPI figure is once again good news for home buyers and renters, according to the Real Estate Institute of Australia (REIA) (31 October 2018).  More...

Approvals for detached houses sink to five year low
Approvals for new detached houses across Australia are at their lowest ebb since late 2013, according to Shane Garrett, Chief Economist of Master Builders Australia. ABS figures which have just been released indicate that detached house approvals fell by 2.1 per cent during September to record their weakest monthly result since December 2013 (30 October 2018).  More...

Victoria

Developers eye opportunities in growing aged care market
As the nation’s residential market continues to cool, Australia’s ageing population may provide scope for growth as industry figures look for alternatives in Melbourne's expanding downsizer market (09 November 2018).  More...

Security upgrades underway at Flinders Street Station
The City of Melbourne has begun installation of permanent security measures at Flinders Street Station, as part of the Victorian Government’s $50 million CBD security upgrade project (08 November 2018).  More...

Victorian stamp duty rates topple other states
The Victorian government has revealed how much of its state economy relies on stamp duty, which the Housing Industry Association has condemned as “inefficient and inequitable” (08 November 2018).  More...

New South Wales

Developer concessions to increase medium density housing in New South Wales
Low-rise medium-density housing, widely considered "the missing part" of NSW housing stock, could be the way forward as new concessions for developers kick in (09 November 2018).  More...

Stamp Duty Reform first in a generation
NSW will be the first state or territory in Australia to index Stamp Duty brackets to CPI guaranteeing everyone in the housing market a fairer deal on future property transactions. NSW Treasurer Dominic Perrottet said the reform was the most significant in a generation with the current system having remained largely unchanged for over 30 years (05 November 2018).  More...

Queensland

Government intervention gets $1.2 billion resort approved
After initially being rejected by the Gladstone Regional Council, a $1.2 billion master planned resort on Hummock Hill Island in Rodds Bay will go ahead, subject to strict conditions (05 November 2018).  More...

Green light for Star's $2 billion Gold Coast masterplan
The Palaszczuk Government has approved plans for an expansion of The Star Gold Coast worth more than $2 billion, which could create 10,000 jobs (02 November 2018).  More...

Four towers added to $2bn Broadbeach masterplan
The Queensland Government has approved four more towers for the Destination Gold Coast Consortium's Broadbeach masterplan (02 November 2018).  More...

In practice and courts

Queensland

Queensland’s Planning System: Measures that matter
The new Measures that Matter website gives town planners, developers and even private investors access to the largest amount of public data gathered in one place. The website offers the latest numbers on a range of key indicators covering housing, transport availability, employment rates and even environmental management (02 November 2018).  More...

Cases

Victoria

AZW International Pty Ltd v N J Agius Pty Ltd (Costs) (Building and Property) [2018] VCAT 1716
RETAIL LEASE: application by landlord for costs under s92 of the Retail Leases Act 2003 (Vic); tenant’s claim dismissed; Landlord’s counterclaim succeeded.

Parrion Holdings Pty Ltd v Kordas (Building and Property) [2018] VCAT 1659
RETAIL LEASE: application by respondent for costs under s92 of the Retail Leases Act 2003 (Vic) after applicant withdrew its claim; application successful. Parrion Holdings Pty Ltd is to pay Dora Kordas’ (personal representative of the late Peter Maroukas) costs of the proceedings from 14 June 2018, such costs, if not agreed, to be assessed by the Victorian Costs Court on the scale of costs in Appendix A of Chapter 1 of the rules of the County Court.

Surf Coast SC v D.P & J.L Dunoon Pty Ltd [2018] VCAT 1551
Section 114 of the Planning and Environment Act 1987; Surf Coast Planning Scheme; Low Density Residential Zone; Use of land for garden supplies; Whether use authorised by existing planning permit or by clause 63 (existing use rights); Accuracy of endorsed plans; Whether exemptions of clause 62 apply to development; Compliance with permit conditions requiring landscaping.

Kolovos v Moreland CC [2018] VCAT 1699
Section 81(1) Planning and Environment Act 1987; Moreland Planning Scheme; Request to extend the time to commence a development; General Residential Zone Schedule 1; Application of principles in Kantor v Murrindindi Shire Council.

McGeoch v Maroondah CC [2018] VCAT 1693
Section 97P Planning and Environment Act 1987 – application to review decision of responsible authority to refuse to issue a certificate of compliance. – application of clause 52.23 relating to shared housing –Modo Project Builders Pty Ltd v Frankston CC not followed – shared housing is not a separate land use term – residential building requires permit for development even though permit for use not required under clause 52.23. No permit.

S 3 Sth Melb Pty Ltd v Red Pepper Property Group Pty Ltd (Building and Property) [2018] VCAT 1684
RETAIL TENANCY DISPUTE – Whether landlord failed to supply an air-conditioning system to service the premises; repair of air-conditioning; whether failure to repair air-conditioning system constitutes a repudiation of the Lease – Repudiation – reasonable person test – Damages – whether accrued rights survive termination of the lease. Costs – whether costs otherwise recoverable under the lease are prohibited under s 92 of the Retail Leases Act 2003.

Queensland

Seeiseo Pty Ltd v Body Corporate for Taralla Apartments [2018] QCAT 352
REAL PROPERTY – STRATA AND RELATED TITLES – MANAGEMENT AND CONTROL – BODY CORPORATE: POWERS, DUTIES AND LIABILITIES – where the caretaker commenced proceedings in the Tribunal seeking appointment of a value to determine remuneration – where the respondent body corporate took steps to appoint a valuer before decision by the Tribunal – where the caretaker no longer claiming that relief in the Tribunal – where the caretaker sought general review of the preceding three years of remuneration paid – where the grounds for seeking relief on the basis of fairness – where no provision in the caretaking agreement for such review – where no dispute of a contractual nature disclosed in the caretaker’s application or supporting material – where body corporate filed interlocutory application to have the proceedings dismissed.

Contacts:

Melbourne
Chris Lovell, Chairman
T: +61 3 9321 9832
E: chris.lovell@holdingredlich.com

Lou Farinotti, Senior Partner
T: +61 3 9321 9861
E: lou.farinotti@holdingredlich.com

Chris Brodrick, Partner
T: +61 3 9321 9804
E: christopher.brodrick@holdingredlich.com

Lisa Cody, Partner
T: +61 3 9321 9872
E: lisa.cody@holdingredlich.com

Richard Skopal, Partner 
T: +61 3 9321 9866
E: richard.skopal@holdingredlich.com

Joseph Monaghan, Partner 
T: +61 3 9321 9857
E: joseph.monaghan@holdingredlich.com

Sydney
Robina Kidd, Partner
T: +61 2 8083 0454
E: robina.kidd@holdingredlich.com

Vanya Lozzi, Partner
T: +61 2 8083 0462
E: vanya.lozzi@holdingredlich.com

Cameron Sheather, Partner
T: +61 2 8083 0461
E: cameron.sheather@holdingredlich.com

Breellen Warry, Partner
T: +61 2 8083 0420
E: breellen.warry@holdingredlich.com

Brisbane
Ron Eames, Partner
T: +61 7 3135 0629
E: ron.eames@holdingredlich.com

Katie Miller, Partner
T: +61 7 3135 0606
E: katie.miller@holdingredlich.com

Peter Nugent, Partner
T: +61 7 3135 0632
E: peter.nugent@holdingredlich.com

Gerard Timbs, Partner
T: +61 7 3135 0644
E: gerard.timbs@holdingredlich.com

Disclaimer
The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this newsletter is accurate at the date it is received or that it will continue to be accurate in the future.

Share this