Australia: Property & Real Estate - What's News - 2 November 2015

In the media – National

NBN construction footprint provides greater certainty for development
The release of the NBN construction plan provides greater certainty for residential development by further detailing the footprint for the rollout which supports the efficient delivery of new housing (16 October 2015). More..

Housing costs for owners steady while housing costs for renters increase
An increase in average household incomes has seen owners with a mortgage spending 16 per cent of their income on housing costs in 2013-14, down from 18 per cent in 2011-12. Caroline Daley from the ABS said the figures show the difference in the impact of housing costs on weekly household budgets for those renting and for those with a mortgage (16 October 2015). More...

Australian seniors stand to benefit from plan to unlock home wealth
In what would be a win both for seniors and the budget bottom line, Treasurer Scott Morrison has expressed his continued support for a plan to unlock the capital in the homes of older Australians (24 September 2015). More...

In the media – Victoria

Plan Melbourne refresh discussion paper
Following the release of the Plan Melbourne 2015 Ministerial Advisory Committee report, the Victorian Government has released the Plan Melbourne refresh discussion paper. The discussion paper succinctly outlines some of the detail from the Advisory Committee report and is essential reading to better understand the current Victorian Government's future planning vision for Melbourne. More...

In the media – New South Wales

Urban Taskforce: Greater Sydney Commission Legislation gives real planning power
The Draft Legislation for the Greater Sydney Commission gives the commission the power to make Local Environmental Plans and District Plans. The Sydney Planning Panels will be determining development applications over $20 million and the Commission will have the authority to make Local Environmental Plans (LEPs) (23 October 2015). More...

Sydney's Bays Precinct to be transformed
White Bay Power Station will be transformed into a hub for innovation and high-tech industries as part of plans to rejuvenate and transform Sydney's Bay's Precinct into a new waterfront destination (23 October 2015). More...

Greater Sydney Commission Legislation Introduced
Planning Minister Rob Stokes today announced that the Greater Sydney Commission is one step closer, after legislation to establish the organisation was introduced in Parliament today (22 October 2015). More...

Making it happen in the Bays
White Bay Power Station will be reborn as a hub for knowledge-intensive industries and there will be a continuous waterfront promenade from Balmain to Pyrmont, NSW Premier Mike Baird and Planning Minister Rob Stokes announced today, as they released the NSW Government's plan for the transformation of Sydney's Bays Precinct (22 October 2015). More...

Fit for the future: $2 Billion Community windfalls by merging unfit councils
Almost two-thirds of NSW councils are not fit for the future, according to a new report by the Independent Pricing and Regulatory Tribunal (IPART) released today by NSW Premier Mike Baird and Local Government Minister Paul Toole (20 October 2015). More... More...

New amendments to help simplify the planning system go on exhibition
The NSW Department of Planning and Environment today announced the public exhibition of proposed amendments to the Standard Instrument for Local Environmental Plans (SILEP) (20 October 2015). More...

Changes to the State Policy for exempt and complying development on exhibition
The NSW Department of Planning and Environment today proposed a number of minor amendments to the State Environment Planning Policy (Exempt and Complying Development) 2008 (the Policy). The proposed amendment is part of the Department's ongoing approach to improving the Policy to make it easier to use and understand (19 October 2015). More...

PCA: Giving Sydney the councils we need
Sydney is poised to enjoy modern councils with the release of the IPART report into local government, according to the Property Council. The city's growth trajectory demands councils with the scale to participate in good strategic planning, infrastructure investment and service delivery (16 October 2015). More...

Urban Taskforce: Strata law improvements essential for the growing number of apartments
The NSW Government's reforms to legislation related to strata titles are important for the growing number of apartments being developed in urban areas (16 October 2015). More...

Sydenham to Bankstown to be revitalised
Planning Minister Rob Stokes today revealed a new vision for the town centres around the 11 stations on the Sydenham to Bankstown rail line (14 October 2015). More...

36,000 new units proposed for Sydney rail corridor
About 36,000 new units are to be built along the rail corridor between Sydenham and Bankstown, in Sydney's south-west, under a 20-year plan revealed by the New South Wales Government (14 October 2015). More...

Underquoting Bill Passes NSW Parliament
Consumers will receive greater protection when purchasing a property, after a bill strengthening the law against underquoting passed the NSW Parliament today. NSW Fair Trading and REINSW are working in partnership to prepare real estate agents for the new laws, which take effect on 1 January 2016 (13 October 2915). More...

In the media – Queensland

First Gladstone LNG shipment a sign of sector strength
Minister Frydenberg congratulated the Australian gas industry on the first shipment of liquefied natural gas (LNG) departing from Santos' Gladstone LNG project in Queensland (19 October 2015). More...

All systems go for Port of Bundaberg as pipeline receives $8.8 million funding boost
The Port of Bundaberg will potentially become a State Development Area and the Palaszczuk Government will increase funding to the Bundaberg Gas Pipeline from $11 million to almost $20 million in a bid to build the port into an economic hub for the Wide Bay region (19 October 2015). More...

Government announces Rural Debt and Drought Taskforce
The Palaszczuk Government has announced the establishment of a Rural Debt and Drought Taskforce to help identify and recommend solutions to address the debt issues faced by Queensland's primary producers (19 October 2015). More...

Carmichael Coal Mine and Rail Infrastructure project
The Carmichael Coal Mine and Rail Infrastructure project has been approved in accordance with national environment law subject to 36 of the strictest conditions in Australian history. The project is located approximately 300 kilometres inland in remote central Queensland. (15 October 2015). More... More...

$2.4 million of new vital infrastructure for Roma
Maranoa Mayor Robert Loughnan said the delivery of essential infrastructure and services was identified as a priority for Council and that the upgrade of Roma's sewage assets was an important project (13 October 2015). More...

Clock ticking for pool owners
The Palaszczuk Government is urging the state's swimming pool owners to ensure their pool fences comply with state laws by 1 December (13 October 2015). More...

Stage two of Gold Coast light rail on track for Commonwealth Games
Gold Coast Light Rail Stage 2 will be delivered in time for the Commonwealth Games with all three levels of Government committed to fund the extension (10 October 2015). More...

Published – articles, papers, reports – National

Global Cities: The 2016 Report
Rapid population growth and innovative infrastructure projects are creating new business hubs and transforming the geography of our Global Cities. These hubs are increasing in importance as investors cast their nets wider when pursuing real estate opportunities, increasing cross border money flows. More...

In practice and courts – National

Global domain for REITs launched
From 17 November, real estate investment trusts around the world, will be able to register their domain name with REIT in their internet addresses. This scheme will be operated and administered by the National Association of Real Estate Investment Trusts (NAREIT). More...

In practice and courts – New South Wales

Announcements, Draft Policies and Plans released 2015

Bays Precinct Transformation Plan
This identifies how the inner harbour precinct in and around Sydney Fish Market, Rozelle Bay, the White Bay Power Station and Sydney waterfront will be revolutionised (22 October 2015). More...

NSW Reform of strata laws
Based on consultation, more than 90 proposed reforms will update 50-year-old strata scheme laws. Together, they will help to guide strata schemes to best manage their strata community's needs into the future (15 October 2015). More...

In practice and courts – Queensland

Announcements, Draft Policies and Plans released 2015

40 rateable local government areas to receive annual land valuations in 2016
More than one million landowners in 40 of Queensland's 78 rateable local government areas (LGAs) will receive new land valuations in 2016 under the Land Valuation Act 2010. "The valuations will be determined as at 1 October 2015, and become effective for rating, land tax and state land rental (for leasehold land) purposes as at 30 June 2016 (14 October 2015). More...

Cases – Victoria

Hong v Tsambikos [2015] VCC 1401
Contract for sale of land containing special condition that contract conditional on approval by FIRB-construction of contract- whether condition was a condition subsequent or condition precedent- whether purchaser entitled to rely on failure of condition to terminate-onus of proof- whether reasonable steps taken- whether substantial chance that approval would not be granted in any event- whether purchaser would be entitled to relief against third parties for alleged misrepresentations of estate agent about FIRB process. More...

Cases – Queensland

Commissioner of State Revenue v Di Sipio & Anor [2015] QCA 198
TAXES AND DUTIES – STAMP DUTIES – CONCESSIONAL RATES OF DUTY – GENERALLY – where the respondents purchased a property subject to an existing tenancy and obtained a first home concession under s 92 Duties Act 2001 (Qld) – where the Commissioner of State Revenue reassessed the duty under s 154 Duties Act 2001 (Qld) – where the Appeal Tribunal of the Queensland Civil and Administrative Tribunal found that s 154 did not apply, as the respondents had not leased the land to the tenants nor given them exclusive possession – where the Commissioner argues that the Appeal Tribunal misconstrued s 154(2) in so finding – where the Commissioner argues that the respondents became lessors to the existing tenants – where the respondents argue that they received only the reversionary estate, the leasehold interest having already passed to the tenants – where the respondents argue that they did not grant exclusive possession of the property as the tenants were already in exclusive possession – whether s 154(2) should be construed so that a buyer's acquisition of a property subject to an existing lease constitutes a disposal of the property – whether leave to appeal should be granted – whether the appeal should be allowed. More...

Meridien Airlie Beach Pty Ltd (Receivers and Managers Appointed) (in liq) & Anor v Karamist Pty Ltd [2015] QCA 192
LANDLORD AND TENANT – TERMINATION OF THE TENANCY – FORFEITURE – RELIEF AGAINST FORFEITURE – RELIEF UNDER STATUTE – GENERALLY – where the appellants and respondent entered into two subleases for recreational purposes – where the appellants are the sublessors and the respondent is the sublessee – where the respondent defaulted in payment of the deferred rent within the required timeframe – where the appellants lodged notices of surrender of the subleases – where the respondent eventually paid the deferred rent – where the appellants refused to reinstate the subleases – where the respondent was successful in its application for relief against forfeiture pursuant to s 124 of the Property Law Act 1974 (Qld) – where the appellants are appealing the decision of the primary judge – whether the primary judge misdirected himself in relation to the legal test to be applied in cases of relief against forfeiture – whether the primary judge failed to provide adequate reasons in granting relief to the respondent – whether the primary judge failed to find against the weight of evidence in circumstances where there was insufficient evidence to support the respondent's application. 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.

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