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Thousands 'double-dipped' in NSW new home grant scheme

In the five years that the new home scheme was in operation, 131,203 received a grant, with 18 per cent receiving more than one grant, and 3,378 receiving more than five grants.

National

The Economy

First-home buyers at highest levels since 2013: REIA

The proportion of first-home buyers in the home lending market is at a four-year high, says Malcolm Gunning, president of the REIA.

Queensland (Qld)Brisbane

Featured Property

Exceptional and elegant entertainer in Clayfield, Brisbane

An impeccably refurbished home in a quiet blue-ribbon pocket of Clayfield, Brisbane, with a private north-facing garden and pool is perfect for contemporary family living. For sale with Alma Clark of Alma Clark Real Estate.

National

The Economy

Australia's migrants gravitate to university suburbs: CoreLogic

CoreLogic analysis of the 2016 Census data shows that migrants tend to live in our capital cities, often close to universities.

National New South Wales (NSW)

The Economy

NSW apartment construction at record highs

The latest data from the ABS shows that 64,470 apartments are being built in New South Wales, a record for the state.

Queensland (Qld)Brisbane

The Economy

Learn how to become a Quest franchisee

Learn about becoming a Quest franchisee at a seminar at 6pm, Tuesday 17 October at Quest Woolloongabba, Brisbane. Hear from industry experts Holmans Accounting, Mike Phipps Finance, Milicevic Lawyers, and Resort Brokers Australia.

New South Wales (NSW)Sydney

Featured Property

Iconic Castlecrag family home designed for peerless luxury

'Meller House' was designed by Harry Seidler in 2003, and its fluid, open-plan layout takes in the local bush setting and sweeping Middle Harbour views. For sale through Michael Coombs and John Melville of McGrath Mosman.

National

The Economy

It pays to haggle on your mortgage

Mystery shopping by mortgage comparison site Mozo has found that the Big Four banks are offering discounts of up to 0.82 per cent to customers who ask for a better deal.

People

Get to know Peter Downes: 'Never live in a boring house again'

Peter Downes designs adventurous but unpretentious homes, often on difficult sites with spectacular views, around Sydney's beautiful northern beaches.

New South Wales (NSW)Sydney

People

George Miller's The Metro art deco icon goes to market for the first time in 35 years

Potts Point's iconic The Metro building, where George Miller produced more than 25 Australian films and mini-series, including classics such as Babe, Happy Feet and Mad Max, is for sale for the first time in 35 years.

Pages

News Roundup

http://www.businessspectator.com.au/article/2015/5/18/property/forces-driving-foreign-buyers-aussie-real-estate

The forces driving foreign buyers to Aussie real estate

Higher government taxes and tougher legislation are unlikely to deter the nouveau riche of Asia seeking to diversify their investment portfolios. Residential real estate is increasingly a global commodity. In the end, market forces, not government regulations, will determine the level of foreign investment in Australia’s residential sector.

Business Spectator

http://www.heraldsun.com.au/realestate/news/camberwell-home-sells-for-about-1nbspmillion-above-reserve/story-fni0ckoj-1227359053621

Camberwell home sells for about $1 million above reserve

A five-bedroom Camberwell home achieved one of the top results last week, selling for $4.5 million, which was about $1 million above the reserve price. Jellis Craig, Hawthorn, director Richard Winneke said he had expected the home to sell in the mid $3 million range.

Herald Sun

http://www.afr.com/real-estate/residential

Owner-occupiers tipped to access cheaper home loans than investors

As the Australian Prudential Regulation Authority demands banks slow investor credit growth to less than 10 per cent a year, there are signs some lenders will use pricing to target owner-occupiers.

The Australian Financial Review

http://www.theaustralian.com.au/business/property/melbourne-auction-clearance-rate-hits-five-year-high/story-fniz9vg9-1227358220968

Melbourne auction rate hits 5 year high

Melbourne’s auction clearance rate surged to a five-year high at the weekend while figures in Sydney cooled slightly.

The Australian

http://www.afr.com/opinion/columnists/payforvisa-scheme-to-force-wealthy-to-invest-in-venture-capital-private-equity-20150514-gh1ss8

Pay-for-visa scheme to force wealthy to invest in venture capital, private equity

It is about to become harder for wealthy foreigners – mainly Chinese – to invest millions of dollars in Australian residential real estate or government bonds to buy the right to permanent residency.

The Australian Financial Review

http://www.abc.net.au/local/stories/2015/05/15/4236177.htm?site=capricornia

Improved beef industry promising for Rockhampton real estate market

A central Queensland real estate agent says the recent success of the industry event Beef Australia 2015 is a good sign for the property market.

ABC News

http://business.financialpost.com/personal-finance/mortgages-real-estate/even-the-prime-minister-is-warning-canadians-about-household-debt-as-housing-boom-turns-patchy

Even the prime minister is warning Canadians about debt as housing boom turns patchy

Canadian Prime Minister Stephen Harper warned on Thursday that some consumers are overexposed to mortgage debt even if the housing market remains stable, a rare nod by the government to high consumer debt levels in an uneven housing market. Harper said his Conservative government would not consider a tax on foreign purchases of real estate.

Financial Post

http://www.dailytelegraph.com.au/news/nsw/under-the-hammer-sydney-real-estate-agency-prosecuted-for-under-quoting/story-fnpn118l-1227262738596

Bresic Whitney prosecuted for ‘under quoting’

A leading Sydney real estate agency is being prosecuted for under quoting and could lose its licence.

Sunday Telegraph