Compensation for the compulsory acquisition of native title rights awarded by New South Wales Courts

Posted on 14 September 2021
Source:  CBP - Insights There have been two recent important New South Wales (NSW) Court decisions in respect of native title in the context of the compulsory acquisition of land. The emergence of these types of claims will need to be assessed and dealt with by the Courts in the years ahead. In anticipation of an increase of these types of claims, the Valuer-General of NSW has released a draft paper on valuing cultural heritage land (Draft Paper) under the Land Acquisitio...

Residential listings sink to lowest level in over a decade

Posted on 14 September 2021
Source:  Australian Property Journal NATIONAL listings were at their lowest level more than 10 years in August, with locked down cities Sydney, Melbourne and Canberra leading the fall. According to the latest data from SQM Research, national listings over August fell by 9.6% to 215,911, compared to 238,834 in July. Reflecting the lowest volume of listings since SQM began recording in January 2010. National listings were also down 26.3% compared to this time 12 months ago, with Sydney,...

Rental Markets Remain Tight

Posted on 18 August 2021
Source:  Australian Property Journal With little availability in the nation's rental market, rents are being placed under upwards pressure rising for another month. According to SQM Research, the national rental vacancy rate is still tight, sitting at 1.7% over July, while the national combined weekly rent is up 1.3% to $508 a week, a yearly increase of 13.7%. In Melbourne the vacancy rate was up from 3.5% in June to 3.6%, while in Sydney it fell from 2.8% to 2.7%. While in M...

Growth cycle tapering as housing becomes less affordable

Posted on 4 August 2021
Source: CoreLogic Australian housing values increased a further 1.6% in July, according to CoreLogic's national home value index.  The latest rise takes housing values 14.1% higher over the first seven months of the year and 16.1% higher over the past twelve months.  CoreLogic's research director, Tim Lawless, described the market as strong, but losing steam.  "The 16.1% lift in national housing values over the past year is the fastest pace of annual growth s...

Brisbane 2032 Olympic Venues Announced

Posted on 2 August 2021
Source:  Austadiums Brisbane has been awarded the 2032 Olympic Games, with venues previously confirmed, including a re-built 50,000-capacity Gabba to be the main stadium. See the full list below. Officials are planning to host an Olympic Games that'll break-even avoiding the mistakes of previous hosts were huge sums of money have been spent building stadiums that end up as white elephants. The Brisbane 2032 Masterplan includes 32 venues within South-East Queensland for the 28...

Will Qld's Property Prices Win Gold After the 2032 Olympics?

Posted on 2 August 2021
Source:  REIQ Although some 11 years away, the 2032 Olympic Games is on the lips of most Queenslanders particularly among Brisbanites whose home city has been declared host of the event.  However, it's not just the excitement of the world's largest multi-sport event that has tongues wagging. Hosting the 2032 Olympics and Paralympics could be a "game-changer" for Queensland, according to Brisbane Lord Mayor Adrian Schrinner, who says it could "deliver 2...

Brisbane rents at record highs amid property shortage

Posted on 27 July 2021
Source:  Domain Brisbane tenants are now paying the highest median house rents in the city's history after prices climbed 12.5 per cent over the past year to reach a record-shattering $450 per week. Property experts say mass interstate migration, a booming property market and years of steady rent prices fuelled the hike, with tenants warned to brace themselves for further jumps as landlords capitalise on record-low vacancy rates and skyrocketing demand. According to the lates...

Queensland Leads East Coast Property Boom

Posted on 27 July 2021
Soiurce:  REIQ Journal Australia's economic recovery from the effects of the COVID-19 pandemic has been led by the performance of its east coast property market, according to end-of-financial year figures released by PEXA, Australia's leading digital property settlement platform. THE TRENDS THAT MATTER IN AUSTRALIA'S PROPERTY BETWEEN JULY 2020 AND JUNE 2021 Queensland leads the east coast for growth, recording +203,000 property sale settlements (up 37% year-on-year) w...

Australian dwelling values finish the financial year 13.5% higher, but a loss of momentum is clear

Posted on 6 July 2021
Source:  CoreLogic National home values rose 1.9% in June, taking annual growth to 13.5% for the financial year. The growth in Australian dwelling values was led by houses, which rose 15.6% over the year, compared to a 6.8% lift in unit values. CoreLogic Head of Research for Australia, Eliza Owen noted "This is the highest annual rate of growth seen across the Australian residential property market since April 2004, when the early 2000's housing boom was winding down after a...

COVID and remote working spurs regional migration

Posted on 6 July 2021
Source:  Ausralian Property Journal AUSTRALIANS are still increasingly deciding to make the move to regional areas, as the COVID-19 accelerated trend sees a 7% increase. According to a new report by Commonwealth Bank and Regional Australia Institute (RAI) the increase in movements from capital cities to regional areas between March of 2020 and 2021, supported an increase in net regional migration of 66% in the last quarter compared to the same period in 2020. RAI-CBA Regional Mov...
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