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Mortgage stress climbing, affluent borrowers most at risk

More than one quarter of Australian households are experiencing mortgage stress, according to new research by Digital Finance Analytics.

National

People

Esti Cogger receives Crystal Vision award for women in construction

The National Association of Women in Construction has awarded Jones Lang Lasalle's Esti Cogger its top prize, the Crystal Vision Award.

People

Brisbane's Plough Inn South Bank pub sold for over $13 million

The iconic Plough Inn hotel sold in Brisbane’s premier South Bank tourist precinct in a deal brokered by Brent McCarthy and Joseph Ganim of Savills Hotels. Eumundi Group Limited required approval from the Minister and South Bank Corporation to purchase the 96-year lease.

Queensland (Qld)Brisbane

Featured Property

1920s Queenslander in New Farm pocket by Belle

The courtyard is simply breathtaking; the architect, James Forbes, sums it up perfectly. "This courtyard links the home's past with the here and now. The warmth, simplicity and intimate scale of the space make it a gathering space." The home at 71 Moreton St New Farm for sale by Ivo Kornel of Belle Property New Farm.

The Economy

Sydney a 'contender' for 'Established World City' title: JLL

Sydney's quality of life and the transparency of its real estate market are among the factors making it a top global city, according to a new report from JLL.

Northern Territory (NT)Darwin

People

Get to know Adam McCann, top salesperson number of sales, Raine & Horne Darwin

Adam McCann, sales agent with Raine & Horne Darwin, has such a good reputation in the industry he has been headhunted for his last three roles.

New South Wales (NSW)Sydney

Featured Property

Fresh Newtown semi with original features in quiet street close to King St buzz

Tucked away in a quiet no-through street just behind the buzz of King Street, with its elegant frontage, portico entry, classic verandah and original leadlight windows, this home is ideal for those who love the pulse of inner city living. For sale by Anthony Tripodi and Marco Bellina of Belle Property Newtown.

New South Wales (NSW)Sydney

Design

City of Sydney council orders developer to rebuild heritage facade

The developer who demolished most of the heritage-protected 1912 Edwardian facade of a Potts Points building, has been ordered to rebuild the wall and could face heavy fines.

International

People

Beyoncé and Jay-Z buy $32m Hamptons estate

Only a couple of months after buying a $113 million mansion in Bel Air, Beyoncé and Jay-Z have dropped a cool $32 million on a seven-bedroom mansion in the Hamptons.

National

Design

Why poor suburbs are hotter

Increased density in our cities may be causing temperatures to rise on our streets, according to a new report by RMIT, the CSIRO, and the University of Western Australia.

Pages

News Roundup

http://www.mortgagebusiness.com.au/breaking-news/8474-investors-loans-to-be-repric?utm_source=Mortgage%20Business&utm_campaign=Mortgage_Business_Newsletter12_05_2015&utm_medium=email

Owner-occupiers receive additional rate cut

Advantedge has announced an additional 15-basis-point discount to its owner-occupied loans, signaling the start of price differentiation in the Australian mortgage market. Price differentiation has repeatedly been tipped as a possibility after the RBA and APRA flagged macroprudential tools as a potential means of reining in the investment segment of the mortgage market last year.

Mortgage Business

http://www.mortgagebusiness.com.au/breaking-news/8472-nation-s-largest-lender-under-margin-pressure?utm_source=Mortgage%20Business&utm_campaign=Mortgage_Business_Newsletter11_05_2015&utm_medium=email

Nation’s largest lender CBA under margin pressure

A report on Australia’s biggest bank has found it will face ongoing margin pressure after its quarterly trading figures came in below system growth. A Morningstar report last week noted that CBA earnings growth “disappointed” in the March quarter.

Mortgage Business

http://www.afr.com/real-estate/home-auctions-hit-record-but-its-not-all-down-to-rbas-rate-cut-20150510-ggy60t

Home auctions hit record, but it's not all down to RBA's rate cut

The weekend after the RBA cut rates to buttress the economy, and help return the budget to surplus, the Sydney market showed no signs of abating, posting a Saturday auction clearance rate of 89.2 per cent, above last week's 86.5 per cent, said Australian Property Monitors.

The Australian Financial Review

http://www.theaustralian.com.au/national-affairs/politics-news/labor-greens-senators-seek-return-of-rental-affordability-scheme/story-fn59nqld-1227347601787?sv=9b467c7695cf4b0930c7ce9c3d058bea

ALP & Greens seek return of rental affordability scheme

Labor and Greens senators have recommended reviving the troubled National Rental Affordability Scheme, blaming “teething troubles” and understaffing for its shortcomings. The final report of a broad-ranging Senate inquiry into housing affordability said while the scheme needed to be improved the NRAS had made a very significant contribution to the supply side of affordable housing and the government should build on its success.

The Australian

http://www.news.com.au/finance/real-estate/foreign-interest-in-real-estate-boosting-aussies-collective-wealth/story-fndbalka-1227343137907

Foreign interest in real estate boosting Aussies collective wealth

“I believe strongly that the collective wealth of Australians is enhanced by having our property markets less restricted to foreign interests than otherwise,” said Brian White, co-chairman of Ray White. “I’m not suggesting the present structure is bad, it’s just some people are trying to restrict further. I would urge caution on any further restrictions.”

news.com.au

http://www.theglobeandmail.com/life/home-and-garden/real-estate/some-wonder-if-its-time-vancouver-acts-to-slow-foreign-buyers/article24341903/

Some wonder if it’s time Vancouver acts to slow foreign buyers

The Real Estate Board of Greater Vancouver issued a press release this week that said sales of detached properties in April had gone up 70.6 per cent since April, 2013. The benchmark price had gone up 12.5 per cent this year over last, to $1.079-million. The same release said the supply is simply not meeting the insatiable demand.

The Globe and Mail

http://www.afr.com/news/policy/budget/federal-budget-2015-coalition-labor-draw-battle-lines-over-wealthy-retirees-20150507-ggwbk6

Federal Budget 2015: Coalition, Labor draw battle lines over wealthy retirees

Thanks to the work of Social Services Minister Scott Morrison, this budget has set up a political battle for the hearts and minds of the nation's better-off retirees.

The Australian Financial Review

https://www.therealestateconversation.com.au/Architecture%20students%20create%20vital%20infrastructure%20in%20remote%20communities

Architecture students create vital infrastructure in remote communities

With support from the MacDonnell Regional Council, 12 University of Melbourne students have travelled to the remote Indigenous communities of Areyonga and Amoonguna in the Northern Territory to build much-needed facilities.

The Age