REAL ESTATE

Hemmes scores over Ivy battle

The Ivy owner, Justin Hemmes, was allowed to convert a performance bond in order to pay for numerous defects in his $66 million investment in Sydney.

$20m insurance claims flood council

The Insurance Council of Australia estimates the total amount of the claims from flood-affected residents in north-east Victoria at $20 million.
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First home buyers back in action

The largest mortgage broking group in Australia revealed a significant rise in first home buyers who secured their services for the past two months.

Renting all the way

A new survey to measure borrower and would-be borrower sentiment for housing loans shows a decrease in the confidence level among home buyers.

Few new houses in August

Construction activities in August remained weak sending the number of new houses to plunge after 16 months.

Rise in building approvals provide cautious optimism

A lift in dwelling approvals in July provides a cause for cautious optimism that the wavering residential building upturn can regain momentum, according to Master Builders Australia, the peak body for the building and construction industry.

Six-star energy raised construction cost

Based on the Master Builders State housing industry report, the introduction of six-star energy requirements for new homes caused the increase. Master Builders' director of housing policy Paul Bidwell said seventy percent of the cost increase can be attributed to the one-off impact of six-star energy requirements rather than significant increases in labour and/or material costs.

Rental vacancies high in July

The number of available rental properties in Sydney was 1.6 percent in July. The figure is close to the 1.7 percent vacancy rate in January 2010.

Property investors just holding out for spring heat wave

It is not just the uncertainty in the political climate that keeps business players from making moves. The drop in investment housing loans this year could also be taken as a sign of property investors saving up for the spring selling season.

Diploma takes stage 1 of Fort Knox

The Diploma Group will develop the first stage of Fort Knox in Fremantle, Western Australia. The stage 1 development has an allocation of $11 billion.

Less savings to cover debts

Personal savings are taking the back seat while households ward off interest rates from mortgages, credit cards, and personal loans.

Building standards make new homes more environmentally efficient

Households in dwellings two years old or less were more likely to have the energy and water efficiency elements they needed to reach government building standards, but beyond these measures they were quite similar to households in older dwellings, according to a report released Friday by the Australian Bureau of Statistics (ABS).

Australian housing finance declines in June

Housing finance for owner-occupied commitments in Australia slumped by a seasonally-adjusted 3.9 per cent in June, well above analysts' prediction of a 2 per cent decline.

Demand for Australian office space regains strength

Demand for Australian office space has recovered after the global financial crisis, with research from the Property Council of Australia showing figures over the last six months at double the 20 year average.

Brisbane Fringe office vacancy hits its highest in 7 years

Brisbane's Fringe office vacancy rate recorded its highest level since January 2003, rising from 11.4 percent in January to 12.2 percent in July this year, according to the Property Council of Australia's mid-year Office Market Report released today.

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