RICS launches consultation on new global residential
measurement standard
A new global standard on measuring residential property
has been published for consultation. RICS is encouraging the more
than 100 000 chartered surveyors and property professionals from
around the world to have their say on this landmark standard (18
June 2015).
More...
Better buildings through CEFC $125m cornerstone
investment in sustainable property trust
The Clean Energy Finance Corporation (CEFC) is committing
up to $125 million in a $400 million trust which will invest in
older office stock to upgrade their energy performance to
revitalise and reposition them in the market (17 June 2015).
More...
CEDA: Future of Work Report urges better urban
planning
The Centre for Australian Economic Development report on
the future of Australia's workforce calls for a radical rethink
in urban planning to deal with workforce changes to come and
it's not all about cities, it says. We need to factor in
congestion, urban flooding and huge housing prices among other
rising trends (17 June 2015).
More...
PCA: Homebuyers slugged with 800% tax increase
New analysis shows that average stamp duty costs have
increased by between 527% and 795% across the states and
territories in the last twenty years, slugging homebuyers and
throwing up a major barrier to home ownership in Australia (15 June
2015).
More...
Australian median house price exceeds $650,000
The Real Estate Institute of Australia (REIA) says that
Australia's housing market continued its growth in the first
quarter of 2015, according to the latest Bendigo Bank/REIA Real
Estate Market Facts publication (12 June 2015).
More...
Housing Affordability Remains a Major Issue for
Australian Households
The current public discussion taking place around housing
affordability highlights a huge and growing problem for thousands
of Australian households, according to the UDIA (10 June
2015).
More...
Implementation of Reef 2050 Plan the focus at Great
Barrier Reef Ministerial Forum
The sharp focus for Governments now is on implementing the
recently released Reef 2050 Long term Sustainability Plan, which
will lock in the strategic improvements necessary to improve the
health of the reef (10 June 2015).
More...
Shipping companies and masters prosecuted for marine
pollution
The Australian Maritime Safety Authority (AMSA) has
prosecuted two shipping companies and their masters for two
separate marine pollution incidents within the Great Barrier Reef
(10 June 2015).
More...
Winners and losers in Development Assessment Report
Card
Australia's states and territories must step up their
planning reform efforts to take pressure off house prices, finds
the Property Council of Australia's
2015 Development Assessment Report Card (09 June 2015).
More...
In the media – New South Wales
New apartment design guidelines released
The State Government has released new guidelines for
apartments which will help ensure good design for communities
across NSW. The release of the policy, (SEPP) 65, is part of the
NSW Government's goal to make planning rules simpler and it
will provide clarity for the public and industry (19 June
2015).
More...
Towards clear and simple town planning
Planning Minister has released a proposal to repeal 16
state planning policies and return those powers to local
government. The proposal is a first stage in the NSW
Government's wider review of State Environment Planning
Policies (SEPPs). The review will examine more than 60 planning
policies (11 June 2015).
More...
In the media – Queensland
Minister delivers good news for local irrigators
Irrigators in the Lower Balonne area will soon have
greater flexibility to manage and trade their water allocations
with changes to local water resource planning rules by the end of
July. Under the previous Resource Operations Plan, Lower Balonne
water users were not able to trade a water entitlement that was
linked to an on-farm storage (18 June 2015).
More...
Gladstone port master plan sets the standard
Public consultation begins this week on an initiative that
will drive economic development in and around Gladstone's port
and protect the Great Barrier Reef (08 June 2015).
More...
In Practice and Courts – Victoria
Infrastructure
contributions reform
The
Government has introduced the Planning and Environment Amendment
(Infrastructure Contributions) Bill 2015 to reform the system for
levying development contributions under the Planning and Environment
Act 1987.The
Bill introduces a new simple, standardised and transparent system
for levying development contributions towards the provision of
local infrastructure in urban growth areas across Victoria (11 June
2015). More...
Growth Areas Infrastructure Contribution rates have been adjusted for 2015-16 commencing 1 July 2015. Refer to the Department of Environment, Land, Water and Planning or the State Revenue Office (04 June 2015).
SRO: State Taxation Acts Amendment Bill 2015
As part of the 2015-16 State Budget the Victorian
Government introduced a new non-resident duty surcharge and an
absentee owner land tax surcharge. This surcharge, which is in
addition to any stamp duty or landholder duty payable, is proposed
for contracts entered into (or a relevant acquisition made) on or
after 1 July 2015 (27 May 2015).
More...
In Practice and Courts – Queensland
Increase in the value of a penalty units
The value of a penalty unit for most offences under state
legislation will increase to $117.80 effective from 1 July 2015;
and the value of a local law penalty unit for most local
governments will also increase to $117.80 effective from 1 July
2015 (Under the Penalties and Sentences Act 1992 (the
Act)).
Cases - Victoria
Landmark Property Enterprise Pty Ltd v Monash
Property Developments Pty Ltd [2015] VSC 266
SALE OF LAND – Contract for the sale of land –
Contract varied – Whether contract became a terms contract
– Whether contract voidable by purchaser –
Australian Horizons (Vic) Pty Ltd v Ryan Land Co Pty Ltd
[1994] VicRp 70; [1994] 2 VR 463 – Ottedin Investments
Pty Ltd v Portbury Developments Co Pty Ltd (2011) 35 VR 1
– Portbury Development Co Pty Ltd v Ottedin Investments
Pty Ltd [2014] VSC 57 – Sale of Land Act 1962
ss 29A, 29M, 29N, 29O, 29P, 29S. More...
Morrison v Neil & Ors [2015] VSC 269
REAL PROPERTY – Restrictive covenant –
Application for discharge or modification –Covenant
restricting, amongst other things, the erection of more than one
dwelling on the land – Proposed development involving
subdivision and construction of single dwelling on one lot and 4
unit development on the other – Whether by reason of changes
in the character of the neighbourhood the restriction ought to be
deemed obsolete – Whether discharge or modification will not
substantially injure the persons entitled to the benefit –
Application refused – Applicable legal principles –
Property Law Act 1958, s 84(1)(a) & (c). More...
Cases - Queensland
Body Corporate for Wendall Court Community Titles
Scheme 14392 and Body Corporate for Whispering Winds Community
Titles Scheme 14455 v Valuer-General [2015] QLC 16
Body Corporate for Wendall Court & Anor [2015] QLC
16
Land Valuation Act 2010 ‒ Valuation of
particular properties ‒ absolute beach frontage ‒ rate
per metre-ocean front component ‒ frontage to depth ratio
‒ battle axe block ‒ boardwalk ‒ esplanade
‒ ocean sea wall ‒ outlook ‒ uninterrupted
views. Valuation ‒ particular factors in valuation
‒ allowable density ‒ strata title ‒ highest and
best use ‒ five level complex ‒ car parking ‒
future development ‒ airport proximity ‒ corner
position ‒ building height restrictions ‒ Tourist and
Residential Domain (RD6) ‒ town planning restrictions-impact
assessable ‒ amenity ‒ unmade road. Statutory
valuations ‒ Land Valuation Act 2010 s 5(1) ‒
valuer-general must decide value of land, s 17(1) what is expected
realisation, s 18(1) what is bona fide sale, s 46(1) enhancements
must be disregarded, s 47(1) single dwelling house. Statutory
valuations ‒ sales and other basic evidence ‒ best
evidence of value ‒ lightly improved sales preferred ‒
improved sales ‒ valuation of improvements ‒ inaccurate
assessment ‒ high risk of error ‒ post valuation date
sales ‒ mortgagee in possession ‒ depreciated value
‒ original condition ‒ demolition costs ‒ valuers
expertise and opinion ‒ older sale ‒ inappropriate
adjustment to analysed sale ‒ Liat Nominees Pty Ltd v
Chief Executive, Department of Lands. Statutory
valuations ‒ relativity ‒ untenable to adopt if no
sound basis ‒ vacant or lightly improved sales preferred
‒ not preferred to exclusion of relevant sales ‒
valuer-general should correct errors not make inaccurate assessment
to secure uniformity. Statutory valuations ‒
methodology ‒ valuer-general ‒ written
reports-sales-applied values not disclosed ‒ concessional
values ‒ applied values not analysed values not used for site
or unimproved values ‒ Chief Executive, Department of
Natural Resources v Radlett Enterprises Pty Ltd.
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.