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Sydney ranked 6th on list of where the super wealthy buy expensive homes

A Knight Frank real estate report tracking high net worth individual investors found Sydney ranks in the top six of ultra-prime cities globally for the number of residential sales above US $25 million.

Western Australia (WA)

The Economy

Industry body welcomes government increase to Keystart home loan scheme

More eligible first-homebuyers will get chance to enter the property market with the State Government extending its Keystart scheme by $420.9 million, in a move the Real Estate Institute of Western Australia has welcomed.

Victoria (Vic.)

People

Get to know Mark Wridgway, Director of RT Edgar Toorak

Director of RT Edgar Toorak, Mark Wridgway's career could have turned out very differently.

Victoria (Vic.)

Featured Property

Cassells: creative, hand-crafted luxury

This artist's home, designed by architect Ross Henry, features stunning entertaining options including a commercial quality bar with custom circular sofa and city views. For sale by Ben Flannagan and Lucas Peressini of Flannagan Peressini & Shaw Greensborough.

Queensland (Qld)Brisbane

People

McGrath spearheads growth of Brisbane team as 9 top agents join agency

Nine high performing agents will today join McGrath Paddington, as the agency seeks to bolster its Brisbane sales team.

National

The Economy

House price drop "the largest in seven years"

House prices have seen the largest fall since December 2011, according to new data from industry body the Real Estate Institute of Australia.

National

People

5 real estate New Year's career resolutions

Resolver Recruitment's Virginia Brookes says these are five career resolutions worth making (and keeping!) in the New Year.

Victoria (Vic.)Melbourne Brighton

Featured Property

Dual-title Brighton luxury opposite the Bay

Featuring indoor lap pool, gymnasium, tennis court, outdoor pool and spa, in-ground trampoline, home theatre, and glamourous Terrazzo interiors, this world-class Brighton home is for sale by Stefan Whiting and David Hart of Buxton Brighton.

Construction

From vision to fruition: Howard Smith Wharves' summer takeover

Howard Smith Wharves Chief Executive Luke Fraser explains how curation inspired construction throughout the redevelopment of the historic site.

National

The Economy

Industry body warns housing finance figures are on a "slippery slope"

The Real Estate Institute of Australia (REIA) says the October housing finance figures released by the Australian Bureau of Statistics (ABS) show the number of housing loans is diving.

Pages

News Roundup

http://www.afr.com/real-estate/sydney-property-is-nothing-like-the-big-short-in-charts-20160224-gn2cde

Sydney property is nothing like The Big Short

There is a huge difference between real estate in outer Sydney in 2016 and Florida in 2007.

The Australian Financial Review

http://www.theaustralian.com.au/business/property/land-banking-schemes-scrutinised-by-senate-inquiry/news-story/3fb3bc6da2b8625c5639e36156045455

Land banking schemes scrutinised by Senate inquiry

The Commonwealth should assume responsibility for overseeing property investment advice, explicitly requiring anyone who provides it to hold a financial services license, according to a bipartisan Senate inquiry into land banking.

The Australian

http://www.cnbc.com/2016/02/22/a-co-op-that-delivers-on-the-american-dream.html

A co-op that delivers on the American dream

An American employer is offering employees a five-year plan to home ownership.

CNBC

http://www.nytimes.com/2016/02/23/world/asia/china-weird-architecture.html?_r=0

China Moves to Halt 'Weird' Architecture

China is home to at least 10 White Houses, three Arcs de Triomphe and one Eiffel Tower. But 2016 might signal the end for China’s more grandiose architecture.

The New York Times

http://www.afr.com/real-estate/mcgrath-limited-shares-tumble-on-housing-bubble-fears-20160223-gn20ci

Housing bubble fears drive McGrath shares to fresh low

Fears of a massive housing bubble building in Australia sent McGrath shares into a nosedive on Wednesday, despite the real estate group saying it had met all its prospectus forecasts in its first interim results since floating in December.

The Australian Financial Review

http://www.afr.com/news/economy/employment/uncovering-the-big-aussie-short-20160223-gn130w

Uncovering the big Aussie short

A hedge-fund manager and an economist posed as a gay couple on a combined income of $125,000 and toured Sydney's western suburbs viewing housing developments and meeting mortgage brokers to determine if there's a housing bubble.

The Australian Financial Review

http://www.smh.com.au/business/property/white-bay-power-station-enters-new-development-phase-20160223-gn1jyy.html

White Bay Power Station enters new development phase

Submissions for first stage of development of the White Bay Power Station site close on Thursday. The NSW government has called for adaptive re-use of the former power station, and the development and activation of its forecourt, which extends to the water's edge.

The Sydney Morning Herald

http://www.architectureanddesign.com.au/features/product-in-focus/cross-laminated-timber-construction-in-australia-d?mid=eb029d4170&utm_source=Cirrus%20Media%20Newsletters&utm_campaign=08777059f1-Architecture%20and%20Design%20Newsletter%20-%20201&utm_medium=email&utm_term=0_fe913f1856-08777059f1-60578053

The time is now for CLT

Cross-laminated timber will be a major player in sustainable, mid-rise construction in the future.

Architecture and Design