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The combined capital cities' preliminary clearance rate falls back below 70% amid the busiest auction week of the year

With 3,983 homes taken to auction, the combined capitals recorded the busiest week of the year to date and the sixth busiest auction week since CoreLogic records commenced in 2008 this week. By Caitlin Fono, Research Analyst, CoreLogic.

New South Wales (NSW)

Construction

Major Construction Safety Blitz Underway

SafeWork NSW is set to crack down on dangerous work practices with a targeted three month operation across the state.

National

The Economy

Housing affordability needs to be front and centre this election - HIA

With the official launch of the federal election campaign HIA will be working hard to ensure that all sides of politics have a clear plan on how to help all Australians have safe and secure housing.

National

The Economy

Bipartisan support for negative gearing should underpin property as vital part of Australia’s future - REIA

REIA launches ‘Australian Property: Our Future’ to address key issues facing the industry.

National

The Economy

Melbourne and Sydney suburbs lead housing value declines - CoreLogic

Top end and inner-city suburbs of Melbourne and Sydney are seeing a slip in values as higher fixed mortgage rates, affordability and increased buyer choice impacts values at a granular level.

National

The Economy

John McGrath – Returning migrants and international students will ramp up inner city market demand

According to John McGrath Chief Executive Officer of McGrath Estate Agents, returning migrants and international students are already boosting the rental market.

National

The Economy

Where have all the properties for sale gone?

Now is a much better time to be a buyer than last year says Nerida Conisbee, Ray White Group, Chief Economist.

Queensland (Qld)Sunshine Coast

Featured Property

Palatial waterfront Minyama Island home for sale - Queensland Sotheby’s

7 Minyama Island Minyama for sale by Paul Arthur of Queensland Sotheby’s International Realty one of the finest homes on the Queensland Sunshine Coast.

New South Wales (NSW)Sydney

Featured Property

The Quadrant Sydney Harbour apartment for sale - The Agency

9/1 Northcliff Street Milsons Point for sale by Scott Thornton of The Agency delivers stunning views of Sydney Harbour Bridge and the CBD.

Queensland (Qld)Brisbane

Featured Property

Tri-level Brisbane riverfront Hawthorne home for sale - The Agency

132 Virginia Ave Hawthorne for sale by Garry Price and Kyle Pitman of The Agency is 'party central' on the Brisbane River for events both intimate and up to 200 people.

Pages

News Roundup

https://www.afr.com/real-estate/cbus-property-sells-penthouse-at-the-langston-in-epping-for-275-million-20180530-h10qba

Cbus Property sells penthouse at The Langston in Epping for $2.75 million

Cbus Property has sold a two-storey penthouse at its Epping apartment project The Langston to a local buyer for $2.75 million, setting a new record for the north Sydney suburb of nearly $17,000 a square metre.

The Australian Financial Review

https://www.theage.com.au/politics/victoria/hundreds-of-properties-have-land-15-metres-beneath-them-acquired-for-tollway-20180530-p4zigm.html

http://www.afr.com/real-estate/chinese-foreign-buyer-boom-over-ubs-20180529-h10o07

Chinese foreign buyer boom over: UBS

The large numbers of residential foreign buyers from the boom of 2012-17 are unlikely to be repeated, a UBS report says.

The Australian Financial Review

https://www.afr.com/brand/chanticleer/royal-commission-spreads-housing-fears-20180529-h10pat

Royal commission spreads housing fears

As the royal commission ground through another day of worthy but unspectacular revelations about small business lending, the broader impacts of the commission's work are setting off some rather shrill – and perhaps overly pessimistic – alarms in federal politics, the property industry, and the consumer sector.

The Australian Financial Review

https://www.smh.com.au/national/nsw/power-to-the-strata-the-push-to-ban-airbnb-in-apartment-blocks-20180529-p4zi8a.html

Power to the strata: The push to ban Airbnb in apartment blocks

Airbnb should be banned within apartment blocks unless strata committees or owners corporations vote to allow the home-sharing service in the building, Liberal MP John Sidoti says.

Sydney Morning Herald

https://www.brisbanetimes.com.au/national/queensland/council-to-stop-developers-building-on-privately-owned-sporting-land-20180529-p4zi93.html

Council to stop developers building on privately owned sporting land

Brisbane City Council has backtracked on its controversial plan to allow aged care and retirement developers to build on sport and recreation zones.

Brisbane Times

https://www.watoday.com.au/national/western-australia/subiaco-institution-the-witch-s-cauldron-to-go-under-the-hammer-20180529-p4zi9c.html

Subiaco institution The Witch's Cauldron to go under the hammer

The iconic Witch's Cauldron Restaurant building will go under the hammer on June 28. Real Estate firm Caporn Young listed the Rokeby Road building on its site on Tuesday, and Caporn Young commercial sales and leasing associate director Phil Hayes said it was a "truly" unique building, much bigger than other restaurants in the area.

WA Today

https://www.afr.com/real-estate/blackstone-makes-31-billion-offer-to-take-over-investa-office-fund-20180527-h10m2x

Blackstone makes $3.1 billion offer to take over Investa Office Fund

Deep-pocketed US fund manager Blackstone has made an emphatic vote of confidence in Australian commercial real estate with a $3.1 billion bid to buy out Investa Office Fund, giving it a platform to make further inroads into the local market.

The Australian Financial Review