Source: The Sydney Morning Herald The cost of building a new house has reached a record high, and experts warn there’s little chance that prices will ease. Labour and materials costs jumped when the pandemic began as lockdown-era stimulus of the construction industry collided with a global inflation breakout, and costs show no sign of reverting to previous levels. The average cost to build a new house is $504,109 as of March, analysis by this masthead of ABS building approvals data...

Source: REIQ Queensland’s rental market has started 2025 with even fewer options for tenants, as vacancy rates continue to tighten across most of the state in the March 2025 quarter, with the number of tightening regions outweighing those that eased. According to the Real Estate Institute of Queensland’s (REIQ) latest Residential Vacancy Rate Report, released today, 24 of the 50 regions tightened, 12 held steady, and just 14 saw any relief. The statewide vacancy rate has slippe...

Source: CoreLogic National rent values rose 1.7% in the March quarter. Despite the easing in demand, a shortfall in rental listings remains, with total rental listings down -22.1% compared to the levels typically seen this time of year, leading national vacancy rates to tighten to 1.6% in March. All the capitals and rest of state regions saw both a rise in dwelling rents and an uptick in the pace of growth over the quarter. Advertised rental supply remains relatively tight. Over the four ...

Source: Colin Biggers & Paisley Further to our release below on 10 December 2024 regarding the Court of Appeal's decision, the High Court yesterday declined TfNSW's application for special leave to appeal. This outcome solidifies the Court of Appeal's decision setting out the steps involved in properly characterising the "public purpose" behind a compulsory acquisition. In Brief Further to our release below on 10 December 2024 regarding the Court of Appeal's d...

The excitement is building as delegates from around the world prepare to gather in Sydney for the highly anticipated Global Property Congress 26-29 May 2025. One of the major highlights will be the joint presentation by two of the industry’s leading minds: John Leeson and Charles Stuart. John Leeson, renowned for his sharp insights and future-focused strategies, will open the session by challenging traditional thinking and offering bold predictions about the evolution of water entitl...

John is thrilled to announce that he will be attending the International Right of Way Association (IRWA) 71st Annual International Education Conference in Virginia Beach, VA, USA, from June 1–4, 2025. He looks forward to sharing updates and highlights throughout the event, joining over 1,000 professionals from around the world. This global gathering is an incredible opportunity to foster connections, explore new opportunities, collaborate across borders, and gain fresh insights into th...

Source: CoreLogic Australian property values reached new heights in March, reversing a recent downward trend, according to CoreLogic’s national Home Value Index. Values increased 0.4% over the month, the second consecutive month of growth in the national index, following a short three-month decline where values dipped 0.5%. Regional markets continue to outperform the capitals, with the combined regionals index rising 0.5% compared with a 0.4% gain seen across the combined capitals. Ho...

Source: PEXA Key Findings: Calendar Year 2024 QLD retained the lead for the highest number of property settlements with 198,019 in 2024, followed by NSW (194,729) and VIC (187,944).   Property purchases in 2024, 17.3% higher than in 2023. This increase in aggregate value came despite declining or stagnating property prices in some capital cities during 2024.  The annual total number of settlements in 2024 was 13.2% less than the COVID-related peak in activi...

Source: CoreLogic CoreLogic’s Home Value Index (HVI) ended the year on a negative note, with values down -0.1% nationally over the month after peaking in October and holding flat in November. CoreLogic’s research director, Tim Lawless, said the decline in values is no surprise. “This result represents the housing market catching up with the reality of market dynamics.” “Growth in housing values has been consistently weakening through the second half of the 20...

Source: Colin Biggers & Paisley Lawyers By Ian Wright, Nadia Czachor, Krystal Cunningham-Foran and Matt Richards
An application for the extinguishment of an easement providing for the access and enjoyment of light and air is dismissed because of the practical benefits to the benefitted property and any injury suffered by its extinguishment could not be adequately compensated. In brief The case of Litfin v Wenck [2024] QSC 170 concerned an application to the Supreme Court of Queensla...