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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.

Queensland (Qld)Brisbane

Featured Property

Large Brisbane riverfront home with pontoon for sale

A large contemporary home in Chelmer with every conceivable luxury and direct access to the Brisbane river is for sale by Hannah Dodds of Queensland Sotheby's International Realty.

New South Wales (NSW)

Politics

NSW to consider stripping councils of DA powers

The NSW government is set to consider allowing development applications over a certain size to be automatically deferred to independent planning panels.

National

The Economy

CoreLogic data preview says property prices fell in May

Property prices in the nation's largest markets declined in May, according to a data preview from CoreLogic.

International

People

Would you like your employer to help you with the rent?

A growing number of US companies are offering housing assistance to their staff, usually in high-rent locations or to encourage shorter commute times.

New South Wales (NSW)Sydney

Featured Property

An iconic residence on Sydney Harbour is for sale

A harbourside Sydney apartment designed by Peddle Thorp & Walker architects and with interiors by Price Beardsmore is for sale with Ettiene West and Laura Lloyd-Cairns of Morton Sydney.

National

Construction

Australia's housing hotspots: HIA report

Pimpama in south-east Queensland is Australia’s top 'housing hotspot', according to a new report from the HIA, with Cobbitty-Leppington in Sydney's south west coming in second.

Victoria (Vic.)Melbourne Brighton

Design

First apartment in eco-friendly The Commons sells for $55,000 over reserve

An apartment in Breathe Architecture-designed The Commons sold last week through Lisa Roberts and Broderick Turmaine of Jellis Craig.

Pages

News Roundup

http://www.theaustralian.com.au/business/media/rea-attacks-fairfax-model-for-real-estate-site/story-e6frg996-1227220641375

Media rivals tussle over real estate portals

News Corp's REA Group, owner of realestate.com.au, has criticised Fairfax Media, owner of Domain, over the launch of a new online real estate business owned by Domain and real estate agents.

The Australian

http://www.housingwire.com/articles/32935-australian-hedge-fund-bets-1-billon-on-zillow-trulia

Big money in real estate portals

One of Australia’s largest hedge funds, Caledonia Funds, is betting big on the future of online real estate in the U.S., to the tune of more than $1 billion. Caledonia Funds disclosed that it currently owns nearly 20% of Zillow and more than 27% of Trulia.

Housing Wire

http://in.reuters.com/article/2015/02/13/australia-china-banking-idINL4N0VN2GV20150213

Chinese-owned bank coming to Oz soon

A Sydney-based investment management company is planning to set up the first privately-owned Chinese bank in Australia, catering to the rising numbers of wealthy Chinese people living and investing in the country, a senior executive said on Friday.

Reuters

http://www.mortgagebusiness.com.au/breaking-news/8170-major-bank-announces-new-ceo?utm_source=MB&utm_campaign=MBNewsflash16_02_2015&utm_medium=email

New ANZ boss

ANZ today announced that Mark Whelan will succeed Philip Chronican as CEO Australia reporting to Chief Executive Officer Mike Smith with Mr Chronican intending to pursue a non-executive career following a distinguished 32-year career in banking.

Mortgage Business

http://usa.chinadaily.com.cn/business/2015-02/12/content_19561001.htm

Chinese investors shifting focus

A Knight Frank study shows Chinese investors have been moving from core office and residential developments into leisure and industrial assets when they seek opportunities in overseas realty markets. In 2014, Australia recorded the strongest growth in inbound real estate investment from China, with a rise of more than 60 percent year-on-year.

China Daily

http://www.afr.com/p/mirvac_on_track_as_first_half_profit_olWNfyCTD7BQ1TH8EbvWOP

Mirvac benefiting from residential boom

Mirvac Group has posted a 2014-15 interim operating profit of $A231.2m, which is 15.5 per cent higher than previously. CEO Susan Lloyd-Hurwitz says the group benefited from the strong residential property market in Sydney.

The Australian Financial Review

http://www.wsj.com/articles/australias-byron-bay-has-beaches-grazing-animalsand-rising-real-estate-values-1423762537

Byron Bay's hot real estate

A growing group of home buyers wooed to Byron Bay. While many homeowners buy property as vacation homes, real-estate agents say more people are moving here full time because of Byron Bay’s geographical setup.

The Wall Street Journal

http://www.afr.com/p/bankstown_enjoys_next_wave_of_growth_FkpGo0XInBPocOnDjmNhMN

Bankstown enjoys next wave of growth

Bankstown in Sydney's west is set to catch up with the rest of the city's strong real estate market, as two properties worth more than $90 million hit the market in the coming weeks. Bankstown experienced one of the highest increases in residential land values– 29 per cent – across the Sydney metro region in 2013-14.

The Australian Financial Review