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ATO employs new tools to scrutinise rental property market

The Australian Tax Office is ramping up scrutiny of the rental property market in a bid to stamp out rorts, and from next year will begin approaching real estate agents for information, reports The Australian.

Western Australia (WA)Perth

The Economy

Perth's median house price records modest gain in three months to November

The beleaguered Perth property market appears to be in recovery mode, with Perth's, median house price rising 1.9 per cent to $525,000 in the three months to November, according to the latest REIWA data.

Victoria (Vic.)Melbourne

Featured Property

Lifestyle at its best for those who appreciate history and warehouse chic

Gina Donazzan of hockingstuart Melbourne told SCHWARTZWILLIAMS, "History has shown that being a resident of Sargood House is the pinnacle of city warehouse living. The voluminous spaces showcase soaring ceiling heights and acoustic privacy, and there is the Paris End location."

National

The Economy

Rates set to remain at historic lows into 2018

Interest rates have been on hold at historic lows for 16 consecutive months, and are unlikely to change for much of 2018, say experts.

National

The Economy

Affordability improves, allowing first-home buyers into the market

The proportion of median family income required to meet average loan repayments declined during the September quarter across all states and territories, according to the September quarter edition of the Adelaide Bank/REIA Housing Affordability Report.

National

The Economy

Chinese-born Australians prioritise home ownership: St.George research

"Chinese-born Australians consistently place a high importance around family, particularly with owning bricks and mortar," says St.George’s general manager for retail banking, Ross Miller.

Queensland (Qld)Brisbane

Featured Property

Opulent living on 10,000sqm in Brisbane's Bridgeman Downs

A sophisticated and opulent residence on 10,000sqm of lush, manicured grounds in Bridgeman Downs is for sale through Sarah Hackett of Place Bulimba.

National New South Wales (NSW)Sydney Darwin Hobart Melbourne Western Australia (WA)Perth

The Economy

Peppermint Grove, Perth, Australia's least affordable suburb: Bankwest First Time Buyer Report

The average Australian will have to save for 4.6 years to save enough for a 20 per cent deposit on a median-priced home, according to Bankwest's First Time Buyer Report.

New South Wales (NSW)Sydney

Design

Foster + Partners to design what could be Sydney's tallest office tower

Lendlease has lodged the development application for its 55-storey office tower at Sydney’s Circular Quay.

International

Design

London's best home extensions revealed

London's annual 'Don't move, improve!' design competition has revealed its 2018 shortlist of 30 projects, revealing the latest trends, design and problem solving in home renovations.

Pages

News Roundup

http://www.dailytelegraph.com.au/realestate/news/the-26-sydney-suburbs-smashing-real-estate-records/story-fni0cly6-1227376204877

The 26 Sydney suburbs smashing real estate records

In just three months an amazing 26 suburbs have recorded new all-time high house prices, some soaring by nearly $2 million. The city-wide phenomena, from Parramatta in the west, Chifley in the east, Sandringham in the south and Balgowlah in the north, has seen the booming residential market jump 6.6 per cent since January, according to Core Logic RP Data figures. That represents a massive increase of 15.1 per cent since this time last year.

The Daily Telegraph

http://www.heraldsun.com.au/realestate/news/potts-point-car-spot-sells-for-264000/story-fni0cly4-1227374140732

Potts Point car spot sells for $264000

As Sydney's real estate prices skyrocket a car space has sold for $264,000.

Herald Sun

http://www.couriermail.com.au/realestate/news/good-as-gold-for-investors/story-fnihpu6h-1227373145668

Good as Gold for investors

Seven years after the global financial crisis knocked the wind out of the Gold Coast’s billowing property sales, the area has started racking up double digits again.

Courier Mail

http://www.nytimes.com/2015/05/31/realestate/paul-mccartneys-15-5-million-central-park-view.html?_r=0

Paul McCartney's $15.5 Million Central Park View

A duplex penthouse at 1045 Fifth Avenue, a bronze-glass apartment building in a neighborhood where limestone and brick prewar co-ops are more the norm, sold to Paul McCartney and his wife, Nancy Shevell, for $15,500,000, and was the most expensive closed sale of the week, according to city records.

The New York Times

http://www.afr.com/real-estate/residential/nsw/residential-property-auction-frenzy-in-sydney-and-melbourne-20150531-ghdc3g

Auction frenzy continues

Sydney's booming housing market is showing no sign of fatigue, galloping to another strong result on the weekend. The clearance rate in Sydney hit 86.5 per cent of the 1.120 homes taken to market, a marginally better result than the previous week, on preliminary CoreLogic RP Date figures. In Melbourne, Australia's largest auction market, the appetite was also strong, with a 78.3 per cent clearance rate of the 1221 homes put on the block.

The Australian Financial Review

http://news.domain.com.au/domain/real-estate-news/south-brisbane-apartment-complex-best-in-australia-20150531-ghdmrc.html

South Brisbane apartment complex 'best in Australia'

It's been dubbed Australia's best apartment complex. Nestled among South Brisbane's cultural precinct, the Austin apartments were last month declared Australia's best highrise residential development at the Asia Pacific International Property Awards.

Domain News

http://www.smh.com.au/business/nbn-faces-developer-anger-as-revenue-rises-20150527-ghah5x.html

NBN faces developer anger as revenue rises

Australia's property developers say they are "deeply concerned" by the federal government's plan to charge thousands of dollars more for connecting new home buyers to the national broadband network.

The Sydney Morning Herald

http://www.afr.com/real-estate/residential/house-price-boom-nowhere-near-as-strong-as-last-time-20150528-ghak7a?login_token=M9rJTtVasY9Rj0EU6vFWMUzRRy06TKM7L8B8PVeXwRQOJQKRzoKqr9zm9DuAcGeOpNkrlKD3hQv_aE6mpCiZWg&member_token=RzmIhTkgD6QCfNtgKjkwu6MCAL8xB79wkHH07uP-7uzYNbCgH2_9AeeaCZ_FHN-Ix9VADGvtqWu1ZU2PCpZkWw&expiry=1464481366

House price boom 'nowhere near as strong' as last time

The current boom is moderate by comparison to that of 2001-04. Since the latest upswing started, three years ago in May 2012, Sydney house values have risen 38.8 per cent according to CoreLogic. In the three years after 2000, the rise was 60.2 per cent. Similarly in Melbourne, the latest rise is 23.6 per cent over the last three years compared to 58 per cent in the three years after 2000.

The Australian Financial Review