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Melbourne's bayside suburbs more expensive than Toorak, REIV data shows

Bayside suburbs, such as Albert Park, Middle Park, and South Melbourne, are attracting higher prices per square metre than Melbourne's most exclusive suburbs, according to the latest data from the REIV.

New South Wales (NSW)Sydney

People

Macquarie Park combined sale makes 55 vendors 'instant millionaires', says Savills

Savills has sold a 5,130sqm site at 15-21 Cottonwood Crescent, Macquarie Park, for around $80 million, delivering the 55 vendors a record price.

International

People

The most expensive house for sale in the US is the former set of 'The Beverly Hillbillies'

As they say, it could only happen in America.

Queensland (Qld)Sunshine Coast

Featured Property

Simply magical: a secluded 32-hectare, beachfront estate in Noosa surrounded by national park

Adrian Reed, from Dowling & Neylan Noosaville, calls Laguna, "Australia's ultimate beachfront estate".

New South Wales (NSW)Sydney

Construction

Court blocks Bondi DA for inadequate terror assessment

The Land and Environment Court has refused an application by FREE (Friends of Refugees of Eastern Europe) to build a new synagogue in Bondi because the developers failed to adequately address terrorism threats.

Western Australia (WA)

The Economy

REIWA calls on state government for reforms to stimulate property market

The Real Estate Institute of Western Australia has made a submission to the WA state government ahead of the 2017 budget, calling for a range of reforms to stimulate the WA property market.

New South Wales (NSW)Sydney

People

Vale: Robert (Bob) Wemyss Frewin OAM

Robert Frewin, distinguished past president of both the Real Estate Institute of Australia (1981-82) and the Real Estate Institute of New South Wales (1970-71), passed away on 4 August. He will be missed by his many friends and colleagues in the industry.

Queensland (Qld)Brisbane

Featured Property

This contemporary take on the traditional Queenslander in Brisbane's Teneriffe Hill has views to Mt Coot-tha

This carefully crafted Brisbane home is for sale with Ivo Kornel of Belle Property New Farm.

National

The Economy

Citi clamps down on lending in 'blackspot' suburbs

Citi will require a 35 per cent deposit for loans on all apartments built less than two years ago, and for any apartment on a list of 90 postcodes Australia-wide.

New South Wales (NSW)

People

REINSW releases finalists for 2017 Awards for Excellence

The Real Estate Institute of New South Wales has released the finalists for its 20th annual REINSW Awards for Excellence.

Pages

News Roundup

http://www.afr.com/real-estate/commercial/global-appetite-rising-for-australian-penthouses-after-25m-sale-20150408-1mgrvu

Global appetite rising for Australian penthouses

Australia's reputation as a global luxury property destination has been enhanced after an ultra-wealthy China-based businessman paid a record $25 million for a 750-square-metre Melbourne penthouse on the very top of Australia 108 – the Southern Hemisphere's tallest tower, being developed by Singapore's Aspial corporation.

The Australian Financial Review

http://blogs.wsj.com/venturecapital/2015/04/07/placester-raises-15-million-to-polish-real-estate-agents-web-presence/

Startup enables agents to get their own digital platforms

Boston-based Placester Inc. has developed a marketing-automation platform that gives real-estate agents and brokers tools to build websites and mobile sites for $10 per month. The company’s service also helps the agents promote their properties through online advertising.The company has now raised $15 million Series B round to double its head count and roll out new products.

The Wall Street Journal

http://www.abc.net.au/radionational/programs/blueprintforliving/the-end-of-the-mcmansion/6359438

Tiny houses spell the end of the McMansion

After all these years, the Australian love affair with the McMansion is finally having a midlife crisis. Let's just say one of us does not need space. Our houses are finally getting smaller.

ABC Radio National

http://www.afr.com/markets/commodities/rba-surprises-markets-again-by-holding-rates-20150407-1mg3sg

RBA surprises markets again by holding rates

The Reserve Bank of Australia held back from a widely expected cut in official interest rates, caught between falling prices for Australia's main commodity exports and surging property prices.

The Australian Financial Review

http://www.businessinsider.com.au/why-a-chinese-officials-idea-to-support-the-property-sector-is-good-news-for-australias-iron-ore-miners-2015-4

Why a Chinese official's idea to support the property sector could be good news for Australia's iron ore miners

The Chinese economy is slowing. With the 7% official growth target for 2015 already looking shaky, policymakers in Beijing are worried enough to reverse many of the structural barriers erected in recent years to slow rampant property speculation. Last week we saw the release of new rules making it easier for investors to buy a second and subsequent home.

Business Insider Australia

http://www.mortgagebusiness.com.au/breaking-news/8343-tumbling-rates-fuel-refi-boom?utm_source=Mortgage%20Business&utm_campaign=Mortgage_Business_Newsletter08_04_2015&utm_medium=email

Tumbling rates fuel refi boom

Falling interest rates are driving demand for refinancing as borrowers consider whether they are paying too much for their mortgage.

Mortgage Business

http://www.theaustralian.com.au/business/property/china-investment-may-cool-off/story-fn9656lz-1227293403522

China investment may cool off

The rapid pace of Chinese investment in Australian residential property may begin to slow as the deregulation of China’s mortgage market tempts mainland investors to bring their money home. BIS Shrapnel managing director Robert Mellor said Chinese investors would have less of an appetite to invest overseas because it has recently become easier to do in their home market.

The Australian

http://www.yourmortgage.com.au/article/aussies-increasingly-choose-variable-rates-198878.aspx

Aussies increasingly choose variable rates

Aussies remain optimistic that the Reserve Bank of Australia (RBA) will continue its cash rate cuts, figures from Mortgage Choice claim. Consequently, more borrowers are now opting for variable rates - as opposed to fixed - as they expect even lower rates from the RBA at some point this year.

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