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Capital gains withholding tax too low for foreign residents says REIA

The threshold for foreign-resident capital gains tax withholding has been reduced to an unnecessarily low level, subjecting agents and conveyancers to additional red tape and costs for no good reason, says Malcolm Gunning of the REIA.

International

People

Obamas buy their Washington rental

Barack and Michelle Obama have paid US$8.1 million (just over AU$10 million) for the Kalorama, Washington, home they have been living in since January.

Victoria (Vic.)

Featured Property

A Mount Eliza home with private beach access is for sale

Designed by architects Macnaughtan & Lumley, this contemporary home is for sale by Marc Jacob and Janine Lum of Unique Estates Australia.

New South Wales (NSW)

Politics

NSW moves a "great first step" to improve affordability: REINSW

John Cunningham, president of the REINSW, says the state government's moves to help first-home buyers are welcome "first steps" to address housing affordability pressures in NSW.

New South Wales (NSW)Sydney

Construction

Sydney penthouse sells for $17 million

The $17m sale of a penthouse in the Loftus Lane development at Sydney's Circular Quay shows harbourfront real estate has entered a new league. The agent was Justin Brown of CBRE.

New South Wales (NSW)

People

Tahnee Barnes: LJ Hooker's Million Dollar Intern

Tahnee Barnes, a former soldier who spent time in Afghanistan and East Timor, has beaten almost 200 candidates to win a three-month internship with Bill Malouf of LJ Hooker Double Bay.

New South Wales (NSW)

Featured Property

A modern Port Macquarie beach house with ocean views is for sale

This home in prestigious Lighthouse Beach with hinterland and ocean views is for sale through Ron Fischer of First National Port Macquarie.

New South Wales (NSW)

Politics

NSW expected to increase charges for foreign investors, help first-home buyers

With recent data showing that one in every 10 buyers in NSW is from overseas, the state government is expected to double the foreign investor surcharge, raising funds to help first-home buyers.

New South Wales (NSW)

The Economy

Have your say on NSW housing affordability

Do you have a suggestion for the New South Wales government about how they might fix the state's housing affordability problems?

National

Politics

Federal government should reconsider changes to investment deductions, says REIA

Changes proposed by the federal government mean that an investor who owns a commercial investment property can claim travel costs for their annual site inspection, but a residential property investor can not.

Pages

News Roundup

http://www.afrsmartinvestor.com.au/p/property/sea_views_below_gfc_top_4uWOGJoPbembgJ7f489x3L

Holiday home values below GFC highs

Australia’s holiday home hotspots are in the midst of their busiest season of the year but most are still recovering from post-GFC lows.

AFR Smart Investor

http://thenewdaily.com.au/life/2015/01/29/house-flipping-block-phenomenon/

The Block influence on house flipping

Property industry figures say television shows like The Block and House Rules are encouraging people to renovate homes with a view to selling them for profit, but the outcome isn’t always satisfactory.

The New Daily

https://au.news.yahoo.com/thewest/wa/a/26141158/tributes-flow-for-murdered-s-africa-family/

Engel & Volkers Australia mourn family

Martin van Breda, a South African who worked in Queensland for Engel & Volkers Australia, has been killed near Cape Town along with his wife and son. "A very sad time for the Engel & Volkers network with the loss of Martin van Breda, our thoughts are with everyone affected," the firm tweeted.

The West Australian

http://www.afr.com/p/property_industry_takes_aim_taxation_dezJ9wHzKyKlAdDlj2DYxO

Property industry takes aim at stamp duty

The property industry hopes the federal government's review of taxation will lead to the reform of a plethora of property taxes, including stamp duty. Real Estate Institute of Australia chief executive Amanda Lynch said the GST should be raised to 12 per cent to allow for removal of stamp duty.

The Australian Financial Review

http://www.bloomberg.com/news/articles/2015-01-28/get-ready-for-the-return-of-risky-mortgage-bonds-credit-markets

Subprime bonds are back

Seven years after the U.S. housing market triggered an economic collapse, the business of bundling riskier U.S. mortgages into bonds without government backing is gearing up for a comeback. Sydney-based bank Macquarie Group Ltd. are among firms buying up loans to borrowers who can’t qualify for conventional mortgages.

Bloomberg

http://www.abc.net.au/pm/content/2015/s4169920.htm

SA developers back state amid concerns

The Wetherill state government has tried to promote desperately needed development in South Australia by providing new land and planning laws to encourage growth.

ABC Radio

http://www.theaustralian.com.au/business/property/booming-housing-market-could-see-a-devine-comeback-for-metro/story-fnko7zi0-1227200017593

A public return for Devine

The hot residential property market could see developer David Devine make a return to public markets. His privately held Metro Property Development is on track to generate $500 million in sales this year and has about $2.5 billion worth of projects under way in Brisbane alone.

The Australian

http://www.architectureanddesign.com.au/news/there-s-a-sunny-future-ahead-for-rooftop-solar-pow

Solar soaring into the future

Solar energy is now a real alternative and considerable player in the power markets because over the past five years the world has seen a dramatic fall in the cost, particularly rooftop solar panels or solar photovoltaic power.

Architecture & Design