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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.

Victoria (Vic.)Melbourne

Featured Property

Historic Hawthorn East estate 'Talana' for sale

The grand, historic manor 'Talana' sits on a 4,198sqm block in Hawthorn East and is for sale through agents Glen Coutinho and Annabelle Feng of RT Edgar Boroondara.

National

The Economy

Revised auction clearance rate one of the lowest this year

But Gil King, the CEO of the REIV, told SCHWARTZWILLIAMS that last week auction volumes and sales in Victoria were ahead of those for the same period last year.

National

Politics

Capital gains withholding tax too low for foreign residents says REIA

The threshold for foreign-resident capital gains tax withholding has been reduced to an unnecessarily low level, subjecting agents and conveyancers to additional red tape and costs for no good reason, says Malcolm Gunning of the REIA.

International

People

Obamas buy their Washington rental

Barack and Michelle Obama have paid US$8.1 million (just over AU$10 million) for the Kalorama, Washington, home they have been living in since January.

Victoria (Vic.)

Featured Property

A Mount Eliza home with private beach access is for sale

Designed by architects Macnaughtan & Lumley, this contemporary home is for sale by Marc Jacob and Janine Lum of Unique Estates Australia.

New South Wales (NSW)

Politics

NSW moves a "great first step" to improve affordability: REINSW

John Cunningham, president of the REINSW, says the state government's moves to help first-home buyers are welcome "first steps" to address housing affordability pressures in NSW.

New South Wales (NSW)Sydney

Construction

Sydney penthouse sells for $17 million

The $17m sale of a penthouse in the Loftus Lane development at Sydney's Circular Quay shows harbourfront real estate has entered a new league. The agent was Justin Brown of CBRE.

Pages

News Roundup

http://www.theaustralian.com.au/business/property/lasalle-wary-of-hot-ma-sector/story-fnko7zi0-1227223191602

Australia’s hot real estate investment trust sector

The investment house LaSalle Investment Management, which is a unit of global real estate services firm JLL, has been tipped as a bidder for the $9 billion Investa Property Group platform, potentially with the support of the Abu Dhabi Investment Authority.

The Australian

http://www.theguardian.com/money/2015/feb/17/uk-mortgage-lending-landlords-first-time-buyers

More investors got mortgages in UK

Mortgage lending to UK investors purchasing rental properties soared in the last quarter of 2014, far outstripping the growth in lending to first-time buyers, according to figures from the Council of Mortgage Lenders.

The Guardian

http://www.afr.com/p/business/property/forgotten_sydney_suburbs_has_more_EwRRXS7E3N2qPsSmr8LcsI

Forgotten Sydney suburbs create property millionaires

Rising house prices and roving developers on the hunt for a bargain are making millionaires in a new swag of Sydney suburbs offering affordably priced development opportunities.

The Australian Financial Review

http://www.mortgagebusiness.com.au/breaking-news/8169-cba-reveals-home-loan-digitisation-plans?utm_source=Mortgage%20Business&utm_campaign=Mortgage_Business_Newsletter17_02_2015&utm_medium=email

CBA wants to digitise mortgage process

The Commonwealth Bank of Australia plans to harness the power of digital to improve mortgage origination. “There are multiple obstacles in Australia to reaching this goal, but that doesn’t mean it’s unachievable,” said CBA general manager of group lending services Dan O’Neill.

Mortgage Business

http://www.afr.com/p/national/apprenticeship_numbers_may_have_8ysT6OoOmfAaugpQPRc9CL

Building boom boosts apprenticeships

Figures from the National Centre for Vocational Education Research show that trainee commencements increased by 5,300 to 31,700 in the fourth quarter of 2014. Commencements in carpentry, plumbing and other traditional trades rose by 1,600 to 21,500.

The Australian Financial Review

http://www.smartpropertyinvestment.com.au/opinion/13974-7-tips-for-success-in-the-perth-property-market

7 tips for success in the Perth property market

The size and significance of the Western Australian residential property market has been highlighted by new ABS figures - so investors would be wise to take another look at Perth.

Smart Property Investment

http://www.bbc.com/news/world-africa-31471427

Foreigners banned from ownership in South Africa

Foreigners will be banned from owning land in South Africa under new proposals outlined by President Jacob Zuma. Locals will have limits set on the size of their farms under the proposals.

BBC News

http://www.theaustralian.com.au/executive-living/home-design/property-booms-create-nation-of-millionaire-homeowners/story-fn6njxlr-1227217583304

Nation of millionaire homeowners

There are at least 790,000 real estate millionaires in Australia and more are created daily as the number of million-dollar-plus properties continues to soar. Sydney has the lion’s share of the nation’s $1m-plus properties, taking 57 per cent, followed by Melbourne’s 28 per cent, Perth with 8 per cent, Brisbane with 5 per cent and Adelaide on 2 per cent.

The Weekend Australian