In the media – National
Chinese investors flooding billions into the Australian
real estate market prompt money laundering fears
The former head of Australia's anti-money laundering
agency calls for solicitors and real estate agents to be forced to
report suspicious transactions, amid concerns billions of dollars
in dirty money are flooding out of China and into Australian real
estate (12 October 2015).
More...
Lending figures point to a steady housing market
The latest housing finance figures released today by the
ABS reflect stable lending activity. The Real Estate Institute of
Australia (REIA) says the figures for August 2015 show, in trend
terms, with the number of owner-occupied finance commitments
increased by 0.5 per cent (09 October 2015).
More...
Smart future cities are investing in tomorrow
today
The Clean Energy Finance Corporation (CEFC) is working to
unlock key investment opportunities for Smart Future Cities in
transport, clean energy and greener buildings (01 October
2015).
More...
In the media
– Victoria
Inaugural Board Takes Helm At Infrastructure
Victoria
The Andrews Labor Government has today announced the make-up of the
board of Infrastructure Victoria, the independent body which will
take the politics out of infrastructure planning (7 October
2015).
More...
In the media
– New South Wales
NSW property industry on watching brief
NSW continues to lead national confidence levels across
the property industry but is keeping a watching brief for softening
conditions in the residential sector, according to the latest
ANZ/Property Council Survey (08 October 2015).
More...
NSW appoints chief planner
The state government of New South Wales has appointed its
first chief planner after recently creating the role, with
experienced planner Gary White to fill the position (01 October
2015).
More...
Circular Quay Renewal
The Government announces the proposal to invest $200
million on renewing the wharves and will set aside funds from a new
round of asset recycling. Construction is expected to begin in 2019
(28 September 2015).
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In the media – Queensland
Confidence in Queensland property on the rise
Treasurer Curtis Pitt has welcomed the latest quarterly
ANZ/Property Council Survey which reveals growing confidence in the
State's property sector (08 October 2015).
More...
Find out about new Great Artesian Basin water resource
plan
Water users throughout Queensland's Great Artesian
Basin can have their say at upcoming public forums to discuss the
development of a new water resource plan for the basin (01 October
2015).
More...
In practice and courts – National
NABERS IEQ free trial extended to mid-November
In response to feedback from the property sector, NABERS
has announced it is extending the free trial of its new Indoor
Environment Quality tool until 16 November 2015. More...
1 October 2015 – 90 day lease rule amendment of
PPS Act commences
1 October 2015 the date of commencement for the repeal of
section 13(1)(e) of the Personal Property Securities Act.
Businesses which lease out serial numbered goods for 90 days or
more but for less than a year, may no longer need to record these
transactions on the Personal Property Securities Register.
More...
In practice and courts – New South Wales
NSW Fair Trading Buying property off the plan Survey
– Buying property off the plan
The NSW Government is conducting a survey to seek your feedback about off the plan property sales and assess the issues related to this type of property sale in NSW. Comments close 14 October 2015. More... More...
In practice and courts – Queensland
Announcements, Draft Policies and Plans released 2015
Conveyancing – new prescribed forms
The Office of Fair Trading has issued new updated forms
effective from 1 October 2015 for property transactions – a
new Form 6 Appointment of Property Agent and a new Form 8
Disclosure to Prospective Buyer.
More...
Draft Planning Bills for Public Comment
The draft planning bills will replace the current
legislation – Sustainable Planning Act 2009 – and
commence late 2016. Public comment closes on 23 October 2015.
More...
More...
More... More...
Cases – Victoria
Gardencity Altona v Grech & Ors
[2015] VSC 538
RESTRICTIVE COVENANT – application to remove
restriction in covenants to construction in brick or stone –
whether the plaintiff is required to identify all beneficiaries of
the covenants – whether brick veneer complies with the
restriction - whether the restriction is obsolete –
consideration of the proper neighbourhood - no evidence of change
in the neighbourhood - covenant complied with on subject land
– variety of materials in the neighbourhood but brick the
most common material - restriction not obsolete – whether
removal of the restriction will cause no substantial injury to the
defendants – defendants have genuine and reasonable
preference for brick – other amenity interests of defendants
not protected by the restriction - some non- adherence to like
covenants shown but also adherence - no proposal from the plaintiff
in the light of which the effect of removal of the restriction can
be considered- removal of the restriction would cause uncertainty
– precedential effect of removal of the restriction –
not shown removal of the restriction will not substantially injure
the persons entitled to its benefit – application dismissed-
Property Law Act 1958 (Vic) s 84(1)(a) and (c). More...
Versus (Aus) Pty Ltd v A.N.H. Nominees Pty
Ltd [2015] VSC 515
LEASES AND TENANCIES – Retail leases – Repair
of leased premises – Failure to remediate leased premises
– Tenant out of occupation for 22 months – Lease
renewal – When a lease is "entered into" upon
renewal – Whether landlord's obligation to repair
subsists in new lease term – Relationship between statutory
obligations – Statutorily implied covenants – Retail
Leases Act 2003, ss 7, 52, 54, 94. More...
Cases – Queensland
Stacks Managed Investments Limited v Tolteca Pty
Ltd [2015] QSC 276
CONTRACTS – GENERAL CONTRACTUAL PRINCIPLES –
HARSH AND UNCONSCIONABLE CONTRACTS AND STATUTORY REMEDIES –
where the defendant borrowed $1,000,000 from the plaintiff for the
purpose of a subdivision of a block of land – where the
residential property of the defendant's sole director was
provided as security for the loan – where the defendant
defaulted in loan repayments – where the plaintiff is seeking
an order for the recovery of possession of the land – where
the defendant counterclaims that the plaintiff engaged in
unconscionable conduct pursuant to s 12CC of the Australian
Securities and Investments Commission Act 2001 (Cth) –
whether the plaintiff's conduct was unconscionable. 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.