Real Estate & Legal News in Australia from Propertyshowrooms.com

Investors eye Australian property market

Fri, 10 Dec 2010 00:00:00 GMT

Oversees investors are increasingly looking to buy property in Australia, it has been claimed.

According Jonathan Thompson, KMPG global head of real estate, large corporate investors are looking to increase their real estate portfolios and are attracted to the country's property market.

Speaking to the Australian, he said that these investors include Chinese life insurance companies and new sovereign wealth funds.

He said one example was the Norwegian Government Pension Fund, the second largest in the world, with USD520 billion under management.

It was recently cleared to invest in real estate after a change in national laws.

Japanese institutions were also cautiously starting to look at going overseas with Australia being the most transparent country in the region.

Mr Thompson argued that stability had returned to the Australian property market and that foreign investors are backing prices to recover.

"They want asset protection and incomes from property," Mr Thompson told the news provider. "The bubble has been taken out of property.

"These large institutions are investing into recovery and for a hedge against inflation."

Lehman's CEO sold Florida mansion to wife for $100

Mon, 26 Jan 2009 00:00:00 GMT

Fallen Lehman Brothers chief executive Richard Fuld sold his $US13.3 million mansion to his wife for just $US100 ($153) last November, according to Florida real estate records...

New citizenship test for Australia

Fri, 9 Jan 2009 00:00:00 GMT

A new citizenship test is set to be introduced for those wanting to emigrate to Australia. The country's prime minister, Kevin Rudd, wants to replace the existing test with one based on democratic values.

Former prime minister John Howard introduced the existing citizenship test, which included "obscure" general knowledge questions, including ones on Australia's sporting history, reports The Move Channel. However, Rudd wants a more straightforward test for those wishing to relocate to the country.

Australia's new citizenship test will be based on the Pledge of Commitment, which is read by new citizens and recognises the country's democratic beliefs and laws. It also encompasses the rights and liberties of Australian citizens.

Rudd intends to remove the general knowledge element from the test, which is expected to come into effect by this August. Australia's immigration minister, Chris Evans, said of the move: "The Rudd government is committed to the new citizenship test. It encourages potential citizens to...understand the responsibilities and privileges of citizenship."

News of the revamped test has been welcomed by ethnic and refugee groups in particular. A spokesperson for the Federation of Ethnic Communities of Australia said of the old requirements: "We have vehemently opposed what was a very hard test, particularly on new arrivals and refugees."

This story was brought to you by holidaylettings.co.uk, the UK's No.1 holiday home website.

Squatters ordered to leave university houses

Mon, 5 Jan 2009 00:00:00 GMT

Squatters occupying four houses owned by the University of Melbourne have been told to leave the properties by the Supreme Court...

Mortgage holder challenges exit fee in court

Mon, 8 Dec 2008 00:00:00 GMT

A Victorian mortgage holder has lodged what may be a precedent-setting legal action over a $12,000 exit fee which her lender threatened if she switched home loans...

Senators urges restrictions on building industry watchdog

Fri, 28 Nov 2008 00:00:00 GMT

Some Federal Government senators have recommended that restrictions be put on the coercive powers of the building industry watchdog as soon as possible...

Foreign ownership laws hinder land sale

Fri, 5 Sep 2008 00:00:00 GMT

The limitation on foreign ownership of Australian assets is creating a hurdle in the sale of one of the Kimberley's largest cattle properties...

Reef Cove developers surprised by federal moratorium

Fri, 5 Sep 2008 00:00:00 GMT

The company in charge of a controversial tourism development in far north Queensland says it is surprised by the Federal Government's moratorium on the project...

RICS to tighten standards for new build valuations to reduce fraud

Tue, 2 Sep 2008 00:00:00 GMT

Mandatory changes to the ‘Red Book’ to help valuers capture discounts and incentives when valuing newly-built homes were revealed today by the RICS...

Audit will provide planning excuses: NSW Opp

Mon, 18 Aug 2008 00:00:00 GMT

The New South Wales Opposition says the Government is trying to prepare people for the delay or cancellation of key infrastructure projects by announcing an urgent audit of planned work...

Developer fined more than $500,000 over illegal Brisbane demolition

Wed, 6 Aug 2008 00:00:00 GMT

A developer has been fined more than $500,000 for the illegal demolition of some pre-war homes in Brisbane...

Qantas boss defends safety record

Mon, 4 Aug 2008 00:00:00 GMT

Geoff Dixon said safety is the company's top priority, as CASA begins a two week review of the airline's operations...

Darwin renters warned of property scam

Thu, 17 Jul 2008 00:00:00 GMT

Northern Territory Consumer Affairs says it will be extremely difficult to find those responsible for an internet renting scam that has targeted people in Darwin's tight property market...

Tax tips for property investors

Mon, 14 Jul 2008 00:00:00 GMT

FOR uneducated property investors it can be easy to make mistakes at tax time. Here are some tips to avoid common pitfalls...

Tips for Aussie investors venturing overseas

Mon, 7 Jul 2008 00:00:00 GMT

There are some golden rules that Australians with overseas rental properties need to follow if they don't want a visit from the taxman.

In this article originally published in Australian Property Investor magazine, accountant and registered tax agent, Julia Hartman, gives investors the low-down on how to avoid making any costly taxation blunders with overseas properties...

What name goes on contract of sales when using a trust?

Mon, 7 Jul 2008 00:00:00 GMT

Many Investors get confused when purchasing a property through a trust and wonder in who's name the contract should be.

In this article, accountant and best selling author Ed Chan removes some misconceptions and puts you on the straight and narrow.

Conveyancing minefields

Mon, 7 Jul 2008 00:00:00 GMT

What are Section 32 Statements, and why must vendors, purchasers, agents and solicitors tread warily?

In this article, originally published in Australian Property Investor magazine, Queensland based solicitor Tim O'Dwyer explains the intricacies of conveyancing...

Dealing with town planners

Mon, 7 Jul 2008 00:00:00 GMT

Attention to detail is critical when you're investing in property. Particularly when it comes to dealing with bureacratic red tape in the form of town planning applications...

In this article, originally published in Australian Property Investor magazine, Rob Balanda provides some great insights into how to cut through the complex red tape...

Make paperwork your friend

Mon, 7 Jul 2008 00:00:00 GMT

How can preliminary agreements save investors time and money? In this article, originally published in Australian Property Investor magazine, Rob Balanda explains...

Getting Co-ownership Right

Mon, 7 Jul 2008 00:00:00 GMT

Co-ownership can be an appealing option to investors who can’t acquire a property of their own. But what should you know before signing a co-ownership agreement?

We asked lawyer Rob Balanda to explain a bit more....

Australia scores well in property rights league table

Wed, 18 Apr 2007 00:00:00 GMT

When it comes to legal rights and protection, Australia is one of the best countries in the world to invest in property, a new survey has revealed.

According to latest International Property Rights Index, Australia is in the top ten nations that have the best protection rules.

It scored 8.1 out of ten, just 0.2 behind world leader Norway and way above the average rank of 5.3.

Bangladesh, Bolivia and Ethiopia scored the worst at 2.2, 2.6 and 2.7 respectively.

By region, Western Europe gets top ranking for property rights, followed by North America.

The index, which is published by the Property Rights Alliance and is based on opinion surveys within 69 countries, analyses property rights, as well as the legal and political environment of each country.

According to the latest HiFX Global Property Hotspot study, the percentage of Brits making enquiries about Australian property has doubled since the beginning of the year.