Australian Personal Property Securities Register Commences In May 2011
Personal Property Security (PPS) reform is changing the law and practice for secured financing involving personal property. PPS reform will bring the different Australian Commonwealth, State and Territory laws and registers regarding personal property security interests under one national system. From May 2011 there will be one national PPS law and one national PPS Register. [Read more ...]
Polls show support for Labor minority Australian government
Two new opinion polls show more voters want three key independent MPs to back Labor to form a minority government. Bob Katter, Rob Oakeshott and Tony Windsor will spend the weekend considering which party to support to form government. As the trio deliberate, a Newspoll survey – published by News Limited – show 47 per cent want the independents to back Labor. [Read more ...]
New South Wales govt tweaks developer levy caps
Homebuyers will be worse off because of a NSW government decision to lift a cap on developer levies for greenfield sites, lobby groups say. But councils have welcomed the announcement from Planning Minister Tony Kelly on Tuesday that he will restructure the cap, lifting it to $30,000 for greenfield developments but keeping it at $20,000 for all other projects. Developer groups the Property Council... [Read more ...]
Australian economy stronger but rates stable
Higher than expected retail trade and building approval results point to a strengthening economy, but economists say interest rates will be on hold until the end of the year. Australian retail trade at current prices rose 0.7 per cent in July, higher than the market forecast of 0.4 per cent. Building approvals rose 2.3 per cent in the same month, significantly higher than the expected fall of 0.7 per... [Read more ...]
Migration cuts to hit Australian housing industry
Large cuts to migrant numbers could exacerbate a looming skills shortage and lead to wage blowouts as the resources sector gears up for another boom, industry analysts warn. The housing construction industry has been complaining about a structural undersupply of labour and the lack of a dedicated migration program for the residential sector. But it also says migration targets may not be enough to maintain... [Read more ...]
Sydney residential rental vacancies rise
THE number of available rental properties in Sydney rose to a near 12-month high during July, figures from the Real Estate Institute of NSW (REINSW) show. But the number available fell slightly in Newcastle and remained almost unchanged in Wollongong. [Read more ...]
Australian home loans a bridge too far
BANKS are denying funds to homeowners looking to upgrade and move into a bigger home. The hardline stance is curtailing Sydney’s already lacklustre property market by delaying home purchases and forcing homeowners to sell their homes before buying a new one. Industry experts said lenders were increasingly blocking homeowners from bridging finance – intermediate loans that finance the purchase... [Read more ...]
Mortgage Choice Australia net profit falls in 2010
Finance broker Mortgage Choice Ltd has posted a fall in annual profit and sounded a warning about the effects of housing under-supply and affordability on the housing market. Mortgage Choice reported a net profit after tax of $23.479 million in 2009/10, down 12.5 per cent from $26.849 million in the prior year. On a cash basis, Mortgage Choice said annual net profit was $14.8 million, up from $13 million... [Read more ...]
Australian construction is firm, no rate rise likely in Sept 2010
A higher than expected construction work result increases the risk of a strong economic growth number next week, economists say. But the strengthening economy won’t be enough to convince the Reserve Bank of Australia (RBA) to lift interest rates as a series of data releases feeds into the second quarter GDP (gross domestic product) number next Wednesday. [Read more ...]
Australian voters wake to political turmoil in Federal election 2010
A handful of independents are set to decide Australia’s political future after an inconclusive election delivered what seems certain to be the country’s first hung parliament since World War II. In a history-making day for Australia, a national primary vote swing of more than 5 per cent against Labor left Julia Gillard fighting to hold onto the prime ministership she took over just two... [Read more ...]
Australian Federal Government Election 2010 And The Department Of Housing Issues
The Housing Industry Association of Australia approached all major political parties and asked the hard questions regarding critical policy issues. Find out about Department of Housing issues … What is the policy position taken by each major party including the Australian Labor Party, The Liberal National Coalition and The Greens. [Read more ...]
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