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Slow down in housing hits GDP

“A decline in housing investment and a decline in exports were the major factors contributing to the relatively subdued growth in the economy this quarter," says Shane Garrett, senior economist with the HIA.

National

ATO warns owners of holiday homes about 'mates rates'

Ahead of the June long weekend, the ATO is warning homeowners to follow the rules when claiming deductions for holiday homes.

New South Wales (NSW)

Featured Property

'Lighthouse Apartment' on Avoca Beach for sale

One of the iconic 'Lighthouse Apartments' on Avoca Beach on the Central Coast is for sale through Tim Andrews and Matthew Farrugia of LJ Hooker Terrigal.

National

Design

How a kitchen can add value to a home

Since the kitchen is often considered the heart of the home, quality kitchen appliances can dramatically increase the appeal, and value, of a property.

Western Australia (WA)Perth

The Economy

Leasing activity remains elevated in WA

Perth leasing activity jumped 32 per cent in May, after the Easter and ANZAC Day holidays slowed down the market in April, says Hayden Groves, president of the REIWA.

International

People

Zaha Hadid's private Miami residence, including much of the furniture, is for sale

A Miami apartment in the W Hotel that Zaha Hadid remodelled herself is on the market for $10 million (AU$13 million).

New South Wales (NSW)

Featured Property

A $16m French-style chateau on Wallis Lake is for sale

'Chateau Le Marais' is a 257-acre property on the Mid-North Coast of NSW, that has its own sandy 1.5km of beachfront, private jetty, and helicopter pad. The property is for sale through Mark Clarke of Ray White Angell & Clarke Group.

New South Wales (NSW)Sydney

Construction

Loftus Lane development sells out in two hours

Demand for quality Sydney CBD apartments is strong, with all 106 apartments in AMP Capital's Loftus Lane Circular Quay development selling through CBRE within two hours on the weekend.

People

Get to Know Fiona Young, architect of high-rise schools

Fiona Young, Sydney Studio Director for Hayball, spoke to SCHWARTZWILLIAMS about her work designing innovative education spaces.

National

The Economy

Aussies expect mortgage rates will keep rising

Despite most economists predicting the Reserve Bank board will leave rates on hold at today's board meeting, many Australians expect mortgage rates will rise this year, and are considering switching to fixed rate loans.

Pages

News Roundup

http://www.bloomberg.com/news/articles/2015-02-18/morgan-stanley-fund-to-exit-a-9-billion-of-australian-properties

Morgan Stanley Fund exits Australian real estate

Morgan Stanley’s property unit appointed advisers as it seeks to exit its $9 billion real estate business in Australia. Morgan Stanley Real Estate Investing said in a statement it plans to sell its holding in Investa Property Group, Australia’s third-biggest owner of city center offices, and that UBS AG and Morgan Stanley Australia would “explore strategic alternatives.”

Bloomberg

http://www.afr.com/p/folkestone_increases_profit_as_platform_nQlf1ytiA6biuRy4iOS0gI

Folkestone profits soar

Sydney-based fund manager Folkestone has posted a 2014-15 interim net profit of $2 million, which is 23 per cent higher than previously. Headed by property veteran Greg Paramor, the boutique manager boosted funds under management to $870 million, across a range of syndicates and development opportunities.

The Australian Financial Review

http://www.architectureanddesign.com.au/comment/preparing-for-the-worst

New scorecard for measuring resilience to disaster

The United Nations’ Office for Disaster Risk Reduction scorecard measures how well prepared a city is for a disaster, including responding to and recovering from it. Developed by engineering and IT giants AECOM and IBM, the scorecard has extensive assessment categories based on the UN’s Ten Essentials for urban resilience.

Architecture & Design

http://www.news.com.au/finance/real-estate/chinese-househunters-click-on-victorian-real-estate-listings/story-fncq3era-1227224368399

Victoria first choice for Chinese buyers

Property portal myfun.com, owned by REA Group, says Victoria was the most clicked state among Chinese buyers in 2014. The site was designed by REA Group to showcase Australian property to Chinese buyers.

news.com.au

http://www.theaustralian.com.au/national-affairs/indigenous/property-red-tape-stifles-aborigines-tim-wilson/story-fn9hm1pm-1227224642501

Property red tape stifles Aborigines

The ability of indigenous Australians to reach their full potential is being undermined by legal and regulatory restrictions on their freedom to exercise property rights in Aboriginal communities, says Human Rights Commissioner Tim Wilson.

The Australian

http://www.theage.com.au/business/online-property-transaction-system-pexa-tipped-to-cut-conveyancing-costs-20150217-13grh0.html

Online property transaction system PEXA tipped to cut conveyancing costs

Property sellers and buyers could find that settlement times drop to one week and conveyancing costs fall 25 per cent under a new online property transaction system. The $100 million Property Exchange Australia e-conveyancing platform began full digital property transfer services in NSW last November and rolled out similar services in Victoria two weeks ago.

The Age

http://www.reuters.com/article/2015/02/17/genworth-mtg-ins-westpac-contract-idUSL4N0VR2AD20150217

Westpac scraps mortgage insurance deal with Genworth

Genworth Mortgage Insurance Australia Ltd, the Australian affiliate of United States Genworth Financial Inc, said on Tuesday Westpac gave the company 90 days' notice that it was ending a sales agreement after a review of its riskier loans, a move that will hit the insurer's 2016 earnings. The cancellation came after the bank reviewed all new residential loans with a loan-to-value ratio of more than 90 percent.

Reuters

http://www.9news.com.au/national/2015/02/17/11/27/people-struggling-to-survive-as-western-australian-mining-boom-grinds-to-a-halt

WA mining boom grinds to a halt

The once-booming real estate market in Port Hedland has collapsed in the past year, with more than 400 homes available to rent – unheard of at the height of the mining golden years.

9 News