Tag Archives: Australia

Daily Scot: Frenzied in Aus

17 Tuesday May 2016

Posted by in Housing, Real Estate

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Scot updates the news in their frenzied market:

 

Aus

MORTGAGE fraud by brokers and banks could bring on a financial meltdown, an economic researcher has warned.

As at least three of the major banks investigate allegedly dodgy loans to Chinese buyers, LF Economics founder Lindsay David says fraudulent lending is rife in Australia’s property market — and that we should all be scared.

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A house with a million dollar price tag used to be confined to the super wealthy suburbs in Australia’s biggest cities. Today, properties with that sort of asking price are commonplace, even in the urban fringes, with little infrastructure and lengthy commute times.

In Melbourne, the median house price is $700 thousand dollars, around 10 times the average wage. In Sydney, there are suburbs more expensive than Manhattan. It’s why the IMF declared Australia one of the most expensive countries in the world to buy property in.

This week reporter Ben Knight explores the housing crisis locking younger people out of home ownership and the negatively geared world of investors building their nest eggs.

Daily Scot: Trying to save your street from McMansions (in Australia)

10 Tuesday May 2016

Posted by in Heritage, Housing

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From Domain:

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A bewildering mix of local and state agencies, councils, government bodies, local planning instruments and environmental controls mean determined developers can drive a wide-shovelled bulldozer through preservation laws.

“Profit-driven developers and Asian buyers in search of ‘trophy’ homes are responsible for the rapid disappearance of these dwellings,” says Almeida.

Buyers worried about unsuitable redevelopments should employ a town planner to check land titles or contact the local council, says Daren McDonald, a partner with ShineWing Australia, which advises property developers. …

Article here.

Daily Scot: A Tumble in Sydney

28 Thursday Apr 2016

Posted by in Affordability, Housing

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Could the measures (on foreign ownership) in Australia be contributing to the slowing in Sydney Real Estate?

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Sydney

The median price of homes in some Sydney suburbs which broke $1 million in the recent boom are now tumbling as the housing market cools.

According to Domain Group’s March 2016 house price data, at least 11 suburbs in Sydney had their median house price fall below $1 million from September to March. …

“The nouveau riche suburbs are having to recalibrate their mindset of having a million-dollar median,” Domain Group senior economic Andrew Wilson said noting that the decline in million dollar suburbs would most likely continue.

Recent data shows house prices in Sydney are pulling back up with a median house price of $807,500 and median unit price of $665,000.

The property boom has been fuelled by record-low interest rates and an influx of foreign buyers encouraged by the falling Australian dollar over recent years.

 

Oddities In Perth

26 Thursday Nov 2015

Posted by in Annals of Motordom, Bicycling

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Gord Price writes to your faithful guest editor, with observations from Perth, Australia.

Friday front page of Perth’s daily newspaper.  Oddly enough, people are not demanding that TransPerth be denied funding.

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Gord Price sends this from Perth

And sadly, this awful story on the inside page. A texting 4WD motor vehicle driver killed a renowned Professor, according to information from the prosecutor. The driver pled guilty to dangerous driving causing death.  I wonder what the penalty is for that.  We certainly know what the penalty is for the dead Professor.

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Michael Kluckner: An Australian Perspective

29 Monday Jun 2015

Posted by in Affordability, Housing

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Michael Kluckner is in Australia, picking up on the similarities between our two scenes:

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Here’s a cartoon from the Sydney Morning Herald: crocodile tears from the State government about affordability while they dance in the rain of money from stamp duty (property transfer tax) payments, allowing them to deliver lots of education and health goodies in the recent budget.

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Michael also notes:

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“Rents in Sydney are about 50% higher than Vancouver’s, although held back a little by rent control. Typically $600-700 per week for a 2 bedroom. Wages are maybe 15% higher here for the average family; condo and house prices are similar.”

Housing Costs Down Under

16 Tuesday Jun 2015

Posted by in Affordability, Housing

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Michael Kluckner is in Australia – and it feels kinda like home:

The papers are as full of affordability stories as Vancouver’s. Little comment about the impact of foreign money – they have controls on investment, but it doesn’t seem to have made any difference.

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Sydney

At today’s exchange rate, that median house price would be about $872,000 Canadian

Conference Submissions: International Urban Design Conference in Brisbane

29 Wednesday Apr 2015

Posted by in Urban Design

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Speak at the 8th International Urban Design Conference in Brisbane

Abstract submissions are open for this year’s conference themed “Empowering Change: Transformative Innovations and Projects” which will focus on inspirational changes in urban environments.

Your presentation can address:

  • Building inclusive multicultural cities
  • Eco cities
  • Health & urban design
  • Higher density urbanism
  • Spatial / temporal changes in Chinese cities
  • Rapid urban development in South East Asia, China & India
  • Balancing the quick and slow formation of cities
  • Using technology to change how cities work
  • How will big data change the future of cities?
  • Urban design practice

Authors or organisations are invited to submit a paper of no more than 300 words outlining the aims, contents and conclusions of their paper for presentation.

To submit your abstract or for further information please visit the conference website.

Suburban Selfishness in Melbourne

29 Wednesday Apr 2015

Posted by in Generational issues, Housing, Melbourne, Urban Planning

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Greg Vann links to this:

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Melbourne

This month Boroondara council banned new buildings of more than three storeys in 31 shopping strips in Melbourne’s eastern suburbs. Last year, Glen Eira council zoned about 80 per cent of its residential land to restrict growth in housing, while Bayside council zoned 83 per cent of its area to prohibit housing higher than two storeys.

These are just the latest steps that councils in Melbourne’s inner and middle suburbs, no doubt responding to the wishes of vocal residents, are taking to stop new homes being built in their area. The trend must stop if we are to keep Melbourne from becoming a divided city.

Debates about housing are often conducted between residents of established suburbs who are hostile to change, and experts making worthy arguments about the benefits of increasing density. But no one speaks for the real losers from restricting population growth in established suburbs – the many Melburnians with little choice but to make their home in outer suburbs that are experiencing acute growing pains. …

These changes are unlikely to please residents of established suburbs who don’t want new neighbours. But we cannot allow the future of Melbourne to be held hostage by privileged vocal minorities. For the sake of residents of outer growth suburbs, and so that our children and grandchildren can afford to live near the suburbs they love, the time for change has come.

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Full column here.

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Call for Abstracts: International Urban Design Conference

11 Wednesday Feb 2015

Posted by in Urban Design

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Abstract submissions are now being accepted for the 8th International Urban Design Conference being held at the Sofitel Brisbane, 16 – 18 November 2015.

The theme titled “Empowering Change: Transformative Innovations and Projects” will focus on inspirational changes in urban environments.

As a speaker you will also have the opportunity to have your full paper peer reviewed and included in the book of proceedings with an ISBN number.

Your abstract may address one of the following:
• Building Inclusive Multicultural Cities
• Eco Cities
• Health & Urban Design
• Higher Density Urbanism
• Spatial/Temporal Changes in Chinese Cities
• Rapid Urban Development in South East Asia, China & India
• Balancing the quick and slow formation of cities
• Using technology to change how cities work
• How will big data change the future of cities?
• Urban Design Practice

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To submit your abstract please visit the conference website here.  Abstract Submissions Close: 7 Aug 2015

Vacant Property: What do other places do?

20 Tuesday Jan 2015

Posted by in Housing, New York City, Real Estate

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Tim Pawsey wanted to make sure PT saw this – from BC Business:

In the past two years, Israel, the United Kingdom and Luxembourg have each enacted vacant property laws with one common goal: to alleviate an acute housing shortage for local citizens.

Few jurisdictions impose a tax specifically on vacant property. Far more common is a carrot-and-stick approach that rewards owner-occupants with tax benefits while imposing additional costs on foreign and non-resident transactions.

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Full piece here.