Australian Property Updates

Property Information & Real Estate Updates

Property Development

Residential building approvals drop again in May

Australian Bureau of Statistics (ABS)  Building Approvals show that the total number of dwellings approved fell in May 2010 and has fallen for two months in seasonally adjusted terms. This months fall was due to an 18.8% decrease in private sector other dwellings approved. According to the ABS, New South Wales (-9.8%), Victoria (-3.0%), Queensland (-8.6%), Western Australia (-13.9%) and ...

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First stage has been completed – 752 new homes in NSW

NSW Housing Minister Frank Terenzini today announced the State Government was ahead of schedule in completing the first stage of the Australian Government’s Nation Building Economic Stimulus Plan social housing initiative. “Housing NSW’s first target was to deliver 752 homes by June 30, 2010,” Mr Terenzini said. “This target was achieved in mid-May. “ “As of the end of the ...

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Housing construction to slow by mid 2011

THE recovery in building new homes is expected to stall in 2011, the peak residential construction body says. The Housing Industry Association’s (HIA) National Outlook for the March quarter says the recovery in new home building will cease in the middle of 2011. “It is not too late to turn the situation around through policies targeted at new home building ...

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Apartment developments boom in Melbourne

More and more building applications for apartment developments as builders respond to strong demand for affordable housing in the overheated property market. Melbourne homes now costing more than $1 million, property developers are rushing to bring multi-unit projects to the market in inner and outer suburbs at prices competitive with the traditional detached house and land. The south-east growth centre ...

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Major Inner-Sydney Development Committee to change

The NSW  Minister for Planning has announced that Central Sydney Planning Committee (CSPC) will be changed. The CSP  responsible for decision-making on large development proposals in the City of Sydney local government area, will be reviewed. Minister for Planning, Tony Kelly, said the CSPC has been in operation for 22 years. “It’s now timely to review how it is working ...

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