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Foreign Investment rules change for property investors

If you’re a foreign buyer looking to purchase a residential property in Australia, these are the changes you will need to know, according to Daniel Ward of Knight Frank.

National

The Economy

Clearance rates and auction volumes drop for June quarter: CoreLogic

The latest quarterly drop in auction results released by CoreLogic came as no surprise as the nation faced some of the greatest disruptions to usual business practices during this period.

National

The Economy

Buyers looking for bargains in country towns: ME Property Report

Young first home buyers look for COVID-19 bargains including in country towns, according to the latest ME Quarterly Property Sentiment Report.

International

Construction

Mandalika: The Indonesian myth soon to be a reality

Invest Islands co-founder Kevin Deisser talks to WILLIAMS MEDIA about what could be the Indonesian Government's most ambitious development to date.

Victoria (Vic.)Melbourne

Politics

Moving house in restricted areas in Victoria is permitted

The Victorian State Government has confirmed people are able to move house in and out of the restricted areas.

National

People

Real Estate Institutes honour property managers

'Unsung heroes' of the pandemic to be celebrated at National Property Managers Day, says REIA president Adrian Kelly.

National

Construction

Increase in new home sales in response to HomeBuilder

An increase in new home sales by 77.6 per cent in June, is a direct result of HomeBuilder, according to Tim Reardon, HIA.

National

People

$1 billion in property sales achieved by Openn Negotiation

Tech platform Openn Negotiation has reached a major milestone of $1 billion property sales through their online auction site.

New South Wales (NSW)

Featured Property

Coastal beach home with 180 degree views

This immaculate home with views from coastline to headland is for sale via Shaun Cardillo of REAL Specialists.

Queensland (Qld)Gold Coast

Featured Property

Full-floor Gold Coast skyhome delivers spectacular oceanfront views

Occupying the 14th floor of an exclusive residents-only building, this Coolangatta apartment overlooks world-class beaches. For sale by Wayne Bisgrove of REAL specialists.

Pages

News Roundup

http://www.smh.com.au/nsw/sydneys-ultra-rich-list-where-the-wealth-is-heading-20170412-gvjrm4.html?utm_source=twitter&utm_medium=social&utm_campaign=nc&eid=socialn%3Atwi-13omn1677-edtrl-other%3Annn-17/02/2014-edtrs_socialshare-all-nnn-nnn-vars-o%26sa%3DD%26usg%3DALhdy28zsr6qiq

Sydney's ultra rich list: where the wealth is heading

The Emerald City's elite are flocking to the east.

The Sydney Morning Herald

http://www.afr.com/real-estate/how-housebuilding-robots-are-demolishing-property-prices-but-creating-jobs-20170417-gvmjpr

How house-building robots demolishing property prices (but creating jobs)

At Blueprint Robotics in Baltimore in the US, robots build parts for houses on an assembly line, that are packed in boxes onto a truck, then delivered to a development site where they are put together.

The Australian Financial Review

https://www.theguardian.com/business/grogonomics/2017/apr/13/the-latest-tax-data-proves-it-negative-gearing-benefits-the-rich-the-most?CMP=share_btn_tw

The latest tax data proves it: negative gearing benefits the rich the most

The release of taxation statistics for 2014-15 reveals that the greatest share of the benefits of negative gearing goes to above average earners, and the biggest growth is to those owning multiple properties.

The Guardian

http://www.abc.net.au/news/2017-04-13/reserve-bank-financial-stability-review-april-2017/8442242

Reserve Bank warns one-third of Australian borrowers have little to no mortgage buffer

One-third of Australian borrowers have not built up a repayment buffer, or are less than one month ahead on their home loan repayments, leaving them exposed to an economic downturn or rise in interest rates.

ABC News

http://www.afr.com/real-estate/residential/prdnationwide-claims-disruptors-such-as-purplebricks-achieve-lower-prices-20170324-gv5m3o

PRDnationwide claims disruptors such as Purplebricks achieve lower prices

The knives are out for Purplebricks and other real estate disruptors eating into the diminishing earnings pie of traditional real estate agents.

The Australian Financial Review

http://www.afr.com/real-estate/residential/wolfdene-snaps-up-40m-melbourne-site-with-chinese-partner-20170413-gvkl6s?&utm_source=social&utm_medium=twitter&utm_campaign=nc&eid=socialn%3Atwi-14omn0055-optim-nnn%3Anonpaid-27062014-social_traffic-all-organicpost-nnn-afr-o&campaign_code=nocode&promote_channel=social_twitter

Wolfdene snaps up $40m Melbourne site with Chinese partner

The flow of offshore funds into Melbourne's outer suburbs is growing.

The Australian Financial Review

http://www.abc.net.au/news/2017-04-12/young-australians-better-off-renting-than-buying/8439396

Young Australians better off renting than buying, says economist

Young Australians would be better off renting than buying a property given record prices, says respected economist Chris Richardson.

The ABC

http://www.afr.com/news/malcolm-turnbull-all-but-rules-out-unlocking-super-for-housing-20170412-gvjlwl

Malcolm Turnbull all but rules out unlocking super for housing

Prime Minister Malcolm Turnbull, speaking to reporters in India, said he did not supportthe idea of allowing young Australians to use super to buy a house.

The Australian Financial Review