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"The system is broken": Calls for a royal commission into residential building industry

A building reform advocate has called for a royal commission into the residential construction industry in the wake of the Opal Tower saga and cladding-fuelled fires in residential apartment towers.

National

The Economy

Building approvals rebound in 2019

Approvals for the construction of new homes rose 2.5 per cent in January, ending a three month period of declines.

Victoria (Vic.)Melbourne

Featured Property

Private escape in Strathtulloh Estate

Designed for entertaining, this grand bluestone residence is designed for entertaining and enjoys the Toolern Creek Park nature reserves as a virtual backyard. For sale by Damien Spiteri and Owen Dale of Hocking Stuart Melton.

National

The Economy

"It's disappointing": New report finds housing affordability is down

Tasmania was the hardest hit as housing affordability declined across the country, according to research from the Real Estate Institute of Australia (REIA) and Adelaide Bank.

New South Wales (NSW)Sydney

The Economy

Sydney's vacancy rate "high enough to house Wagga Wagga"

There are enough empty dwellings in Sydney to house an entire city the size of Wagga Wagga or Tamworth - a population of 60,000 plus, according to one property research firm.

National

People

5 unmistakeable signs you've outgrown your job

We all have bad days at work, but sometimes you can have bad months, or even years. So how do you know if it's just a rut, or a sign of something more? Director of Resolver Recruitment, Virginia Brookes says these are the five tell-tale signs you've officially outgrown your job.

New South Wales (NSW)Sydney

Featured Property

Striking split level home over Careel Bay

Steps from the water’s edge, this Avalon home celebrates the harmony between home and environment. For sale by Peter Robinson of LJ Hooker Palm Beach.

National

The Economy

Most renters don't believe they will ever own their own home, survey says

That's according to a survey conducted by the Housing Industry Association (HIA) which found home ownership is more important to people than ever - but most believe it's completely out of their reach.

Queensland (Qld)

The Economy

Expressions of interest for approved Kenmore site

Expressions of interest are being sought for a substantial approved townhouse site in the affluent Brisbane area of Kenmore, at 128-132 Kenmore Road, through Ray White Special Projects Queensland.

Tasmania (Tas.)Hobart

The Economy

Top Sydney agent appointed to head up Tasmanian operation

Sydney Sotheby's International Realty Director, Gayle Walker will head up the Tasmania Sotheby’s International Realty new office.

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News Roundup

http://www.domain.com.au/news/the-damaging-ramifications-of-the-apartment-boom-20160408-gnxvnm/

The damaging ramifications of the apartment boom

Buyers looking for a freestanding home are being frozen out of the market. We need to think of creative ways to build townhouses or single-house dwellings that don't skimp on quality but can be bought for a similar price as apartments.

Domain

http://www.afr.com/real-estate/macquaries-paraway-reaps-record-profit-as-cattle-prices-rise-20160408-go209j

Macquarie's Paraway reaps record profit as cattle prices rise

Macquarie Group's $720 million agricultural land and livestock company Paraway Pastoral has posted a record net profit of $67.1, after a year in which it benefited from rising cattle and land prices.

The Australian Financial Review

http://www.afr.com/real-estate/how-50000-ha-of-nsw-has-been-preserved-in-private-20160408-go1vio

How 50,000 ha of NSW has been preserved in private

Since 2002, the Nature Conservation Trust has used its Conservation Property Fund to protect over 100 private reserves, and 52,000 ha of private country, across NSW.

The Australian Financial Review

http://www.domain.com.au/news/former-treasurer-joe-hockeys-canberra-home-sells-for-15-million-20160409-go2efj/

Former treasurer Joe Hockey’s Canberra home sells for more than $1.5m

Joe Hockey’s three-bedroom Canberra house failed to sell under the hammer but a price was negotiated soon after.

Domain

http://www.yourinvestmentpropertymag.com.au/news/mirvac-brushes-aside-oversupply-fears-with-new-sydney-project-214228.aspx

Mirvac Brushes Aside Oversupply Fears With New Sydney Project

Concerns about oversupply in Sydney’s inner south have not deterred one of Australia’s biggest apartment developers from unveiling a new project in the area.

Your investment property

https://sourceable.net/negative-gearing-creating-masses-of-vacant-apartments/

Negative Gearing Creating Masses of Vacant Apartments

Tax concessions are leading residential investors to pour excessive amounts of money into the wrong types of dwellings, two leading academics say.

Sourcable

http://www.domain.com.au/news/apartment-numbers-in-melbourne-could-double-in-coming-years-20160407-gnyr2b/

Apartment numbers in Melbourne could double in coming years

Almost 14,000 new apartments have been built in the CBD in nearly 15 years. Is this sustainable, and how many more are coming?

Domain

http://www.mortgagebusiness.com.au/breaking-news/9641-credit-growth-skyrockets-for-investors

Credit growth skyrockets for investors

Investor housing credit recorded its fastest growth rate in six months during February, according to new research.