Nearly $69 billion in developments mapped for Gold Coast Nov 19, 2009
A new "development map" plotting current and planned projects shows a big vote of confidence in the Gold Coast as a mature urban centre, leading real estate group Colliers International says. Despite several high-profile casualties in the wake of the global financial crisis, nearly $69 billion worth of major development projects are under way or planned for the city, new research released by Colliers today shows. (Sydney Morning Herald -- Business)
Australia: tax-free for foreigners Nov 16, 2009
They were the relevant politicians responsible for Tax Laws Amendment (2006 Measures No. 4) Bill 2006, which effectively made capital gains tax optional for foreign entities investing in Australia, other than in real estate ... Strip the company down to its leanest and most profitable core, flogging off sundry assets such as the real estate and sharply reducing costs by sacking half the workforce not that we're getting into the tax that might have been paid by employees. (Sydney Morning Herald -- Business)
No such thing as a free market Sep 9, 2009
This is particularly true of financial markets, which are capable of blowing up huge bubbles in real estate, share and other markets. The sudden bursting of these bubbles is capable of bringing the whole economy to its knees. (Sydney Morning Herald -- Opinion)
City set spared from job pain Sep 7, 2009
5 per cent. The biggest job losses came in real estate, which plunged 6. 6 per cent, telecommunications, which fell 5. (Sydney Morning Herald -- Business)
Street execution: 'fun-loving family' torn apart Sep 4, 2009
Search brisbanetimes. September 4, 2009 - 12:10PM. (Sydney Morning Herald -- Australia)
High-flyer Livanes fights charges Aug 20, 2009
IT SHOULD have been a good year for the high-flying Sydney real estate lawyer George Livanes. In 1991 the Emerald City was on the cusp of a steroidal property boom and he was a 39-year-old partner presiding over the real estate practice of Clayton Utz, one of Australia's biggest firms ... Clayton Utz would boast that in Mr Livanes and fellow partner Peter McMahon it had ''two of the leading real estate lawyers in the world'' according to the British publication Who's Who Legal. (Sydney Morning Herald -- Australia)
Clive Peeters hit by $20m sting Aug 12, 2009
The staff member allegedly falsified accounts, transferring millions to external accounts and used the money to buy and sell real estate. The money was used to buy property worth $19. (Sydney Morning Herald -- Business)
Ten-year ban for realtor who ripped off the elderly Aug 8, 2009
WITH his health deteriorating rapidly, 85-year-old Melville Pedersen was grateful when the real estate agent who had been managing his investment duplex offered to buy it in 2006 ... This week the Office of Fair Trading stripped Mr Larcombe, 55, of his licence and banned him from operating as a real estate agent for 10 years ... The Fair Trading Minister, Virginia Judge, said: ''Mr Larcombe's 10-year ban should serve as a strong warning to other real estate agents who are thinking of cheating... (Sydney Morning Herald -- Australia)
Eels cleared, but NRL will 'closely monitor' Broncosover salary cap Jul 31, 2009
The league issued a statement yesterday in which it announced it had cleared Parramatta of suggestions they may have cheated the cap by possibly guaranteeing investments in real estate by players contracted to the club in 2002 and 2003. But at the same time it detailed its plan to closely monitor allegations made in a recent court case about payments made to Brisbane Broncos players by high-profile individuals associated with the club. (Sydney Morning Herald -- Sport)
'Pretend and extend' time Jul 30, 2009
There is nothing new about the American commercial real estate problem. A comprehensive Deutsche Bank report back in April on the refinancing crisis in commercial real estate estimated prices had fallen by 25 to 30 per cent from their 2007 peak and were likely to drop another 15 to 20 per cent as the recession rolled on. (Sydney Morning Herald -- Business)
Google sparks real estate listings brawl Jul 27, 2009
GOOGLE is facing the greatest challenge yet to its might in Australia as two of its largest media customers threaten to pull their business over the internet company's decision to enter the real estate listings market ... Google began sourcing listings from real estate aggregators such as Homehound and My Home this month and opened up the service to allow real estate agents to list their properties free on Google Maps ... We are obviously not keen to support a would-be competitor with our... (Sydney Morning Herald -- Business)
Is the bear market over? Jul 21, 2009
He said new money was being invested in shares because term deposits, bonds, and even real estate yields didn't offer the same asset price growth as equities. However, Mr Moffatt warned any upswing in stocks should be based around ''sensible investment. (Sydney Morning Herald -- Business)
Agents to face $1m fines for fake bids Jul 19, 2009
Real Estate agents to face fines for fake bids ... THE Australian consumer watchdog says real estate agencies involved in under-quoting and dummy bidding will be hit with fines of up to $1 ... Australian Competition and Consumer Commission chairman Graeme Samuel said a new Australian Consumer Law is aimed at any businesses involved in misleading and deceptive conduct, including real estate agents. (Sydney Morning Herald -- Australia)
Google wants a bigger slice of the real-estate search business Jul 6, 2009
The service is launching with listings provided by the Real Estate Institute of Western Australia and homehound. com. (Sydney Morning Herald -- Technology)
Michael West Numbers suggest 2010 has got to be a better year Jun 30, 2009
The worst of this ridiculously leveraged real estate bunch, such as Centro and Valad, had already collapsed in the wake of the subprime crisis the year before. As commodity prices fell and the gloss came off the resources sector at the beginning of the year, the mining contractors also got hammered; most notably Borat Longyear and Macmahon Holdings. (Sydney Morning Herald -- Business)
New home sales slump Jun 30, 2009
7 per cent. The once-hot resources real estate market in Western Australia collapsed 13 ... The fall in credit "provides a reminder that the odds are that we are going to be in for some pretty soft quarters of growth,'' Ms Ong said. Markets pricing in interest rate increases are getting ahead of themselves, she said. Housing finance continued its run of increases, rising 0.5 per cent in May, slowing slightly from the 0.6 per cent increase in April. From a year earlier, the increase was 7 per... (Sydney Morning Herald -- Business)
We've lost 36% of wealth Jun 27, 2009
Significantly it excludes wealth held in the form of superannuation and real estate, and both of these have also dived since the crisis began. Financial wealth per household as measured by the Australian Financial Accounts has slid from $159,000 to $98,000 - its lowest point for more than three years. (Sydney Morning Herald -- Business)
Self-funded retirement plans on ice Jun 6, 2009
And whether it is ASX-listed real estate trusts, mortgage funds run by fund managers, the unlisted property trusts or the unlisted property finance companies, the losses have tarnished the property investment sector for years. After the freezing of redemptions from mortgage funds and the collapse of several debenture companies, investor confidence has been weakened, if not shattered. (Sydney Morning Herald -- Business)
ACTU wants major reforms for workers Jun 3, 2009
Australia's peak union body has warned Prime Minister Kevin Rudd it wants major reforms to protect workers from unscrupulous employers. More than 500 union delegates, representing almost two million trade union members, are meeting at the ACTU triennial congress in Brisbane to map out the labour movement's agenda for the next three years. (Sydney Morning Herald -- Business)
House prices tipped to slide Jun 2, 2009
Other gauges of real estate values have shown declines through the first quarter. The Australian Bureau of Statistics said there was a 2. (Sydney Morning Herald -- Business)
BrisConn pursues Bolton for $1.3m Jun 1, 2009
BrisConn pursues Bolton for $1. BrisConn pursues Bolton for $1. (Sydney Morning Herald -- Business)
King tide hits Gold Coast May 30, 2009
And the real estate industry is worried the bottom will fall out of the affordable end of the housing market once the first home owner's grant is cut back in September ... "It has a very quick shutdown and a very quick take-off," said Peter McGrath, the chairman of the Real Estate Institute of Queensland, who has lived on the Gold Coast since 1971. (Sydney Morning Herald -- Business)
Wealth listing a bit rich, says Turnbull May 28, 2009
Real estate tycoon Frank Lowy was second richest, with $4. 2 billion, followed by Sydney property developer Harry Triguboff with $3. (Sydney Morning Herald -- Australia)
Creditors vote to wind up Kleenmaid May 25, 2009
Kleenmaid to be wound up. Kleenmaid directors Bradley Young and Andrew Young as they appeared on a YouTube last month. (Sydney Morning Herald -- Business)
On and off the throttle: Chinese recovery looks like a lurch May 19, 2009
Their problems are exacerbated by a slump in real estate sales. The flood of new loans to local government projects has reignited the Chinese economy and raised hopes that Australia can be insulated from the worst of the unfolding shock to international demand. (Sydney Morning Herald -- Business)
First-home buyers 'most vulnerable' May 18, 2009
"From our assessment, the next 12 months is potentially the most vulnerable in the employment sense.'' Although average home prices have slumped 6.7 per cent in the year to March, according to ABS numbers, Mr Lamont said the fall is skewed by drops in value in homes worth $700,000 or more. Academics, such as University of Western Sydney professor Steve Keen and Australian National University economist Quentin Grafton disagree, arguing the slumping home prices will continue to ripple through the... (Sydney Morning Herald -- Business)
Kleenmaid 'may have traded while insolvent' May 18, 2009
Kleenmaid 'may have traded while insolvent. Kleenmaid 'may have traded while insolvent. (Sydney Morning Herald -- Business)
New Farm old hat as property values plummet May 15, 2009
The total number of suburbs where the median home price is $1 million or more fell to 134 in the year to the end of February, from 152 a year ago, according to real estate research agency RP Data. Forty-one New Farm properties sold over the course of the year with an average price of $900,000, down from $1,040,006, a 13. (Sydney Morning Herald -- Business)
Miss California keeps crown despite racy pix May 13, 2009
Real estate tycoon Donald Trump, who owns the Miss Universe organisation, announced at a press conference in New York's Trump Tower that Carrie Prejean "will remain Miss California.". Prejean, 21, risked losing her crown after pictures of her wearing little more than skimpy bottoms appeared on the internet, despite having stated that she had never posed nude or semi-nude. (Sydney Morning Herald -- World)
Act on franchising report, minister told May 4, 2009
Kleenmaid franchisees Marlene and Mervyn Kennedy speak to the media at a creditor's meeting in Brisbane. Franchisees are considered unsecured creditors and face substantial losses. (Sydney Morning Herald -- Business)
If the hat fits Apr 20, 2009
Australian Style Investment's Nicholas Bolton this week pocketed $4. 5million after selling his BrisConnections shares to construction giant Leighton. (Sydney Morning Herald -- Business)
Newspaper staff forced to re-apply for jobs Apr 17, 2009
"The Gold Coast Bulletin has been our fastest growing paper in terms of pagination, circulation, readership, revenue and profit over the last five years or more and that's been fueled in part by very strong growth in South-East Queensland and in particular by very strong growth in real estate," he said. "A lot of that (growth) has come back ... there's been a significant slow-down in real estate advertising from the very high base it was running at.". (Sydney Morning Herald -- Business)
Time to rev up, not close down, says jobs entrepreneur Apr 8, 2009
But Ms Russo, who started her business as a typing school in 1979, said she had no intentions of letting competitors snare her staff or her valuable real estate assets. Some of her offices are adjacent to Centrelink. (Sydney Morning Herald -- Australia)
Banks, property and mark-to-market: eggshells all round Apr 3, 2009
The purchaser, Normandy Real Estate Partners, is only putting up $US20 million as it takes over the existing $US640. 5 million mortgage on the property at an interest rate of 5. (Sydney Morning Herald -- Business)
Hospitality, retail jobs in danger Mar 21, 2009
After a plunge in the property market and the collapse of the mining boom, the biggest casualties in the three months to February were in professional services jobs, real estate, mining and construction, official figures published this week showed ... The biggest losses in the quarter were in real estate, which shed more than 30,000 jobs, a fall of 15 per cent, and professional services, which fell by more than 40,000 jobs, or 5. (Sydney Morning Herald -- Business)
Agents tip housing crash after grant glory Mar 16, 2009
ReMax real estate agent Peter Secco ... Veteran agent Peter Secco, who has sold real estate in Brisbane's inner east for more than 25 years, said business would be "virtually over" if the grant were not extended ... " First-time buyers now receive $14,000 for established properties and $21,000 for new properties. However, the grants will revert to $7000 on July 1. A record went to first-home buyers in January. The scheme has been credited for reversing a five-year decline in the home building... (Sydney Morning Herald)
Push to extend home grant Mar 8, 2009
"There is a wealth of evidence showing that it is a highly successful program and is attracting new entrants into the market now, who may otherwise have to delay their purchase while they continue to save,'' MFAA chief executive Phil Naylor said in a statement. First time buyers comprised 25.4% of all home loans approvals in December, a seven-year high, according to the Australian Bureau of Statistics (ABS). It was the third time in as many months the proportion of first home buyers in the... (The Age, Australia -- Business)
Billions wiped off Macquarie Feb 25, 2009
"Like all Australian real estate investment trusts, we expect portfolio fundamentals to weaken (occupancy rates and rental growth). However, we do not expect this to be a key stock driver, given its balance sheet concerns," the broker said. Yesterday Macquarie Media Group reported a $127 million net loss for the six months to December after writing down a US acquisition from 2007. (Sydney Morning Herald -- Business)
Neck and neck in Queensland campaign Feb 25, 2009
Friends of the former One Nation leader, turned real estate agent, turned TV personality, turned political candidate, says she'll run as an Independent on Brisbane's outskirts. The Premier Anna Bligh is scathing. (ABC Online)
Lace up for fun run Feb 23, 2009
Welcome to Where I Live. Your location Change Location. (Where I Live - News Community Media)
Blue-collar suburbs red hot for investors Feb 18, 2009
Investors are joining them in search of a bargain, with the Real Estate Institute of Queensland (REIQ) saying there are healthy long-term gains to be had. The report's author, Helen Swanson, said 234,663 blue-collar workers lived in the South-East corner - 30 per cent of whom reside in Capalaba. (Sydney Morning Herald)
Homes most affordable in five years Feb 16, 2009
Property reporter Natalie Craig says real estate lovers were in the mood on Valentines Day, schmoozed by lower interest rates and news of Kevin Rudd's cash handouts. Recession. (Sydney Morning Herald -- Business)
Australian papers shrug off the decline Feb 14, 2009
Despite a sluggish real estate market, and a decline in cars and jobs classified ads, the Saturday editions of major metropolitan broadsheets fell by 1. 2 per cent in the period. (The Age, Australia -- Business)
