Australia: Property & Real Estate - What's News? – 16 November 2015

In the media – National

The highs and lows of commercial property around the world
In keeping with the mixed overall economic picture around the world, the commercial property sector reflects somewhat varied sentiment across global investor and occupier markets. This emerged from the Global Commercial Property Monitor for the third-quarter (Q3) of 2015 (28 October 2015).  More...

PCA: More myths busted around negative gearing
The Property Council of Australia welcomes the findings from a new Deloitte Access Economics report Mythbusting tax reform  which finds negative gearing is neither "evil", "a loophole in the tax system" nor the "key culprit" impacting on house prices (26 October 2015).  More...

In the media – New South Wales

Strong Sales to Boost Sydney's Housing Supply
CEO of Government Property NSW, Brett Newman, today announced the sale of vacant residential development sites on Sydney's North Shore with the potential to deliver around 100 new dwellings (06 November 2015).  More...

New Underquoting Laws: What it means for agents, buyers and vendors
Minister for Innovation and Better Regulation has called on homebuyers, sellers and agents across East Hills to educate themselves of their rights and responsibilities under new laws to address Underquoting in real estate transactions. The reforms, which commence on 1 January 2016, provide clarity for buyers, sellers and agents and ensure a fair and level playing field for all concerned (05 November 2015).  More...

Streamlining regional and rural planning
Rural and regional NSW homeowners and businesses can now fast-track their building projects through changes to the complying development process (03 November 2015).  More...

Sun Sets On Rogue Developers
The NSW Government will introduce new laws this month to make developers justify any sunset clause termination of an off the plan sale. If a purchaser does not give their consent, then a developer will be required to apply to the Supreme Court for leave before any termination can take effect (02 November 2015).  More...

NSW housing approvals at record highs
The housing industry continues to move from strength to strength in NSW, confirmed by today's record-breaking ABS housing approvals figures (02 November 2015).  More...

Strata Title Reforms Pass NSW Parliament
The NSW Parliament today approved major reforms to the state's strata title laws, which come into effect in July 2016. Public consultation on draft regulations to accompany the new Acts, including model by-laws, will commence in early 2016 (28 October 2015).  More... More...

Managing crown land: legislation to be introduced next year
Minister for Lands and Water, has released the NSW Government's response to the public submissions to the Crown Lands White Paper – a major milestone to better manage the state's Crown Land (29 October 2015).  More...

In the media – Queensland

Queensland looks to Sydney for infrastructure funding ideas
While the Queensland Government plans to spend $35 billion of its own money on infrastructure over the next four years, it is looking for innovative funding ideas for projects in the 5-to-15 year time horizon. Part of the plan is more opportunities for private sector investment in "market-led" projects with the government (27 October 2015).  More...

Restoring key protections in our nature conservation legislation
The Palaszczuk Government today took the crucial first step in re-introducing conservation safeguards into legislation covering the state's significant protected areas, including national parks (27 October 2015).   More...

Government releases draft plan to manage Queensland's future growth
The Palaszczuk Government's blueprint to manage future growth and deliver a long-term program of infrastructure projects and investment for the state is outlined in the draft State Infrastructure Plan released today (26 October 2015).   More...

In practice and courts – National

AER: Review of Retail Exempt Selling Guideline September 2015 - request for submissions
The AER published a draft revised version of its Exempt Selling guideline for consultation and accompanying Notice of Draft Instrument.   More...

In practice and courts – Victoria

State Revenue Office: Absentee owner surcharge
If you own property in Victoria, you may have to pay land tax. From 1 January 2016, a 0.5 per cent absentee owner surcharge on land tax will apply to Victorian land owned by an absentee owner. If you are an absentee owner as at 31 December 2015, you must notify OSR before 15 January 2016.

Cases – Victoria

Re Hammond [2015] VSC 608
REAL PROPERTY—Restrictive covenant— Principles of construction — Extrinsic evidence to construe instruments lodged in the Torrens registration system — Prohibition on "any building other than a private dwelling house of stone or brick"—Proper construction—Whether "a" private dwelling house means "one" private dwelling house"—Proposal to demolish existing dwelling and construct large dwelling containing two dwellings—Intention discernible from other covenants in subdivision permitting "houses"—No substantial injury to beneficiaries of covenant—Application granted to modify covenant to enable 'private dwelling houses'— Property Law Act 1958 s 84(1)(c).  More...

Higgins Nine Group Pty Ltd v Ladro Greville St Pty Ltd (Building and Property) [2015] VCAT 1687
LANDLORD AND TENANT – Rent review – Valuation – Section 37(6) of the Retail Leases Act 2003 – Whether expert valuation contained detailed reasons or specified the matters to which the valuer had regard in making the determination – Whether the Tribunal has jurisdiction to act as a valuation tribunal – Whether the Tribunal can substitute one valuation for another. More...

Deus Software Pty Ltd v Acumen Auditors Pty Ltd (Building and Property) [2015] VCAT 1667
Retail Tenancies Act 2003 – informal tenancy – no written lease – no disclosure statement – terms agreed in emails – period of 24 months – no right of re-entry reserved – Tenant default in payment of rental and outgoings – Landlord changing locks – no repudiation by Tenant – re-entry unlawful – Tenant accepting tenancy at an end – claim by Landlord for unpaid rental and outgoings – Landlord refusing to allow Tenant to collect goods in premises after re-entry unless arrears paid – no right to do so – Landlord's claim for damages.  More...

Lawrence & Hanson Group Pty Ltd v Young[2015] VSCA 284
LAND — Caveat — One of two joint proprietors of land executed a charge in respect of his interest in the land — Chargee lodged a caveat prohibiting 'absolutely' the registration of any instrument affecting its estate or interest under the charge — Whether the judge erred in deciding that the caveat impermissibly affected the interest of the joint proprietor who did not execute the charge and that the balance of convenience favoured the removal of the caveat — Sections 89(1), 90(3) of the Transfer of Land Act 1958.  APPLICATION FOR LEAVE TO APPEAL — Whether the chargee had a real prospect of succeeding on appeal — Leave granted.  More...

Legislation – Queensland

Bills Updated

North Stradbroke Island Protection and Sustainability (Renewal of Mining Leases) Amendment Bill 2015
Introduced on 27/10/2015 Stage reached: Referred to Committee on 27/10/2015.

Nature Conservation and Other Legislation Amendment Bill 2015
Introduced on 27/10/2015 Stage reached: Referred to Committee on 27/10/2015.

Local Government and Other Legislation Amendment Bill (No.2) 2015
Introduced on 17/09/2015 Stage reached: Report from Committee on 2/11/2015.

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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