In the media – National
New data underlines importance of foreign
investment
Foreign investment is an essential ingredient in Australia's
property industry that helps drive new residential supply and ease
pressure on housing affordability. The ANZ/Property Council Survey
June quarter 2015 results show relatively stable but significant
levels of foreign investment is helping bring new housing supply to
market (24 April 2015).
More...
PCA: Certainty on negative gearing a boost for housing
affordability
The Property Council of Australia welcomes comments by the Prime
Minister today ruling out any changes to negative gearing.
Executive Director, Nick Proud, said providing certainty on the
future of this tax measure will benefit housing affordability and
give average workers who invest in property confidence (16 April
2015).
More...
Superannuation for housing deposits and the deposit gap:
Parliamentary Research Report
The idea of allowing early access to superannuation for housing
has recently resurfaced in public debate. This FlagPost provides a
high-level chronology of major announcements and reviews, and a
brief discussion of decreasing housing affordability reflected in
the 'deposit gap' measure. (13 April 2015).
More...
In the media – Victoria
Fishermans Bend Expansion
Fishermans Bend will be home to a new jobs precinct, with the
Andrews Labor Government expanding plans for the development and
doubling the size of the urban renewal area (17 April 2015).
More...
Melbourne Metro Rail – Swanston St
Alignment
Premier Daniel Andrews joined Minister for Public Transport,
Jacinta Allan, to announce the preferred alignment and depth of two
rail tunnels that will run through the Melbourne CBD (17 April
2015). More...
In the media – New South Wales
A new park for Sydney's Harbour
The western Sydney Harbour foreshore will be returned to Sydney,
for the first time in over 100 years. Barangaroo Point Reserve in
years gone by was an industrial precinct but in July, the site will
re–open as a six hectare harbour foreshore park (22 April
2015). More...
Local heritage sites to get greater
protection
Local councils and businesses will receive an extra $28.5 million
in additional heritage funding over the next four years through
Heritage Near Me an initiative to support local heritage asset
management (20 April 2015).
More...
Minimum apartment sizes need clarity
The determination by the NSW Land and Environment Court about
minimum apartment sizes has created industry confusion and this
must be resolved, says the Urban Taskforce. "The Land and
Environment court has determined that a table of nine apartment
types takes precedence over a 'rule of thumb' in the
Residential Flat Design Code (13 April 2015).
More...
Ruling could make Sydney apartments bigger and more
expensive
Developer Meriton, the country's largest developer of
apartments, has found an unlikely ally in some of Sydney's most
rigorous architects after a court judgment raised the minimum size
of the city's units (13 April 2015).
More...
In the media – Queensland
Cattle grazing leases in Queensland national parks
unlikely to be renewed
Time is running out for graziers running cattle on
Queensland's national parks, with the new State Government
likely to phase out the practice (26 April 2015).
More...
In Practice and Courts - National
Notice: ACCC inquiry into gas markets
The inquiry will examine the competitiveness of wholesale gas
prices and the structure of the gas industry. The inquiry may
include but not be limited to Victoria, NSW, the ACT, South
Australia, Queensland and Tasmania. Published on 21/04/2015. The
ACCC will provide its report to the Minister for Small Business no
later than 13 April 2016. More...
Cases - Victoria
Blue Concept Pty Ltd v Christine Farnan &
Ors [2015] VSC 125
REAL PROPERTY Restrictive covenant Whether obligations created by
covenant bind the plaintiff – Whether covenant prohibits
construction of multiple apartment units – Whether
declaratory relief should be refused on discretionary grounds
– Property Law Act 1958 s 84;Supreme Court Act
1986 s 36. More...
Cases - Queensland
Chief Executive, Department of Justice and Attorney
General v Hucker
[2015] QCAT 087
REAL ESTATE AGENT – DISCIPLINARY PROCEEDINGS – where
agent held deposit in personal bank account – where agent
used money held as personal funds – where client known to be
in poor health – where no consumer suffered loss –
whether ground for disciplinary action – penalty to be
applied. Chief Executive, Department of Justice and
Attorney-General v Sparkling Property Developments Pty Ltd
Christine Jayne Jury [2014] QCAT 24 Chief Executive,
DTFTWID v Caughey [2006] QCCT PAMD 42 Chief Executive,
Department of Justice and Attorney General v My House is Your House
Pty Ltd (under external administration) & Anor [2012] QCAT
326. More...
Gekko Developments Pty Ltd v Centa Company Pty
Ltd [2015] QSC 087
CONTRACTS – GENERAL CONTRACTUAL PRINCIPLES – FORMATION
OF CONTRACTUAL RELATIONS – where parties dispute the content
and existence of a legal relationship allegedly arising from
dealings between the parties – where the defendant had
previously granted the plaintiff an option to purchase property
belonging to the defendant – where the plaintiff claimed the
parties agreed, in consideration of the plaintiff giving up its
claim to a contractual entitlement to the property, that the
defendant would pay to the plaintiff $3 million – whether the
defendant made an agreement to make a conditional or unconditional
payment to the plaintiff – where the defendant denies any
conversation to that effect and existence of any contract.
CONTRACTS – GENERAL CONTRACTUAL PRINCIPLES –
CONSIDERATION – WHAT AMOUNTS TO CONSIDERATION – whether
there was an agreement that the defendant would pay the plaintiff
$3 million in consideration for giving up its contractual
entitlement to the defendant's property – where the
plaintiff's case was that there would have been consideration
by a forbearance to sue – unnecessary to consider whether
there was good consideration – it would be sufficient
consideration for the agreement upon which it sues if the plaintiff
gave up what it genuinely believed to be a legal entitlement
– not clear that the plaintiff genuinely believed it had a
legal entitlement to the property. EVIDENCE – WITNESSES
– where the credibility of witnesses was questionable –
where the conclusion resulted not from a favourable impression of
the defendant's witnesses, but from an assessment of the
relative probabilities of the respective cases from uncontroversial
facts. More...
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.
