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whats news in property, planning & environment?
4 November 2008
latest news - national
Investors question direct property valuations
15 October 2008 Criticism that some funds and their managers use supposedly artificial unlisted property valuations to bolster portfolio returns illustrates how different groups of investors have fundamentally contrasting views about how to interact with the property sector
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Government bank guarantee unsettling formortgage finance
Mortgage finance companies are warning that the Federal Government's bank deposit guarantee will not only undermine their business, but could weaken the property market.
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Accusations rock moves for hi-tech conveyancing
24 October 2008 Moves to establish a national electronic conveyancing system have been rocked by accusations that the project may have been corrupted by a conflict of interest within the Victorian public service
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practices notes/directions - national
First Home Owner Grant changes
14 October 2008 The Australian Government has announced a First Home Owner Boost, which supplements the Queensland Government funded First Home Owner Grant Scheme. First home buyers will be eligible for the First Home Owner Boost on contracts entered into from 14 October 2008 to 30 June 2009
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Green Precincts Fund
October 2008 The Green Precincts Fund was announced in the 2008-09 Budget with funding of $15 million over four years to support 10 plus high-profile demonstration projects that must deliver water and energy efficiency savings while at the same time educating the community about water and energy efficiency. (Dept of Environment)
Water plan may not go far enough
23 October 2008 Victorias $4.9 billion water plan may not be enough to secure Melbourne's drinking needs for the long term, with one of the state's top water bureaucrats suggesting more big projects could be needed within a decade more...
Auction clearance rates collapse to a four-year low
26 October 2008 Melbourne's auction clearance rate plunged to its lowest level in more than four years, with almost half of the properties up for sale failing to sell
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articles - victoria
Infrastructure: what is needed and how do we pay for it? Author: Keating, Michael Source: Australian Economic Review; September 2008; Vol 41(3); pp231-238. Subjects: Electricity supply; Infrastructure; Investment; Prices and charges; Telecommunications; Urban transport; Water supply; Cost effectiveness analysis
practices notes/directions - victoria
Boost for First Home Buyers
The Federal Government has announced significant increases to the Grant available to first home buyers. The new measures now bring the total available to those buying a newly constructed home to $26,000 increasing to $29,000 in regional Victoria (subject to certain requirements).
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Commonwealth of Australia v Leigh [2008] FCA 1513
Securities grant of funds to purchase property grant conditional on use of the property for certain purposes and secured by a charge condition breached charge secures repayment of the grant costs and expenses incurred in enforcing the obligation to repay are also secured upon the property Aboriginal and Torres Strait Islander Commission Amendment Act 2005 (Cth) Schedule 1
Oakland Investments (Aus) Pty Ltd v SeniorLiving Pty Ltd & Anor [2008] VSC 422
Property law Caveat Lease Whether lease a sham Whether lessee estopped from asserting leasehold interest Alleged misrepresentation about existence of lease Whether lease terminated S42 (2)(e) Transfer of Land Act 1958 Balance of convenience.
Natwest Markets Australia Pty Ltd v Tenth Vandy Pty Ltd [2008] VSCA 207
Landlord and tenant Lease Construction Provision for re-entry for non-payment of rent Further provision for termination on notice of breach of essential term Whether right of re-entry under provision for re-entry subject to requirement to give notice under provision for termination for breach Shevill v The Builders Licensing Board (1982) 149 CLR 620 , The Progressive Mailing House Pty Ltd v Tabali Pty Ltd (1985) 157 CLR 17 , referred to. Reichel v Paulyn Investments Pty Ltd & Ors [2008] VSC 413
Xiao v Perpetual Trustee Company Limited &Anor [2008] VSC 412
Landlord and Tenant Option in lease for a further term - Application for relief against forfeiture made Jurisdiction of Supreme Court conferred by s.89(4) Retail Tenancies Act 2003 Accrued jurisdiction to deal with justiciable controversy between parties Inherent power of Supreme Court to grant a declaration - Notice under s.28(1) Retail Tenancies Act 2003 Obligation on landlord to notify in writing tenant of the date after which option is no longer exercisable Obligation to notify different from mere service or delivery of document Service of document provision Retail Tenancies Act 2003 (s.97) not applicable Service by post provision Interpretation of Legislation Act 1984 (s.49) not applicable Construction of condition precedent to exercise of option Relief against forfeiture of option principles considered Entitlement of tenant to exercise option to renew lease Declaration granted.
NSW landowners launch class action
25 October 2008 The NSW government also looks set to face a legal challenge from landowners who say they have been short changed through compulsory acquisition processes. A class action is now being organised by landowners who say they were forced to sell their properties, at below market rates, for projects which may now never proceed more...
New CBD metro plans announced
23 October 2008 A $4 billion CBD metro line from Central Station to Rozelle would be built with plans to build a North West Metro or western metro pushed back further into the future under a surprise plan announced by Premier Nathan Rees more...
New population and housing projections
20 October 2008 Population projections have been produced for New South Wales as whole and 13 regions of the State for the period 2006 to 2036. Household and dwelling projections have been produced for New South Wales as a whole and a four-region breakdown of the State: Sydney, Newcastle, Wollongong and the Balance of New South Wales for the period 2006 to 2036
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articles - new south wales
Problems and prospects for suburban renewal:an Australian perspective Author: Randolph, Bill; Freestone, Robert Source: Kensington, NSW: City Futures Research Centre, 2008; pp31 Subjects: Suburbs; Urban renewal; Urbanisation; Social conditions; Sydney; Case studies; Town planning; Australia overseas comparisons
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Stafford & anor v Kekatos & anor (No 3) [2008] NSWSC 1093
Trusts where parties held charge over assets of a jointly owned company which owned certain land where company went into liquidation and parties sought to purchase the land where plaintiffs agreed to transfer interests in charge to first defendant Constructive trusts whether first defendant should account for contributions of plaintiffs to a venture that has failed without attributable blame whether parties intended that contributions to the venture would be returned in event of failure whether venture failed - Sale of land requirement for writing
whether an agreement between two or more parties to purchase land from a third party is an agreement for the sale or other disposition of land whether an agreement that a person is to hold land as trustee upon its purchase is an agreement for the sale or other disposition of land whether requirement for writing affects interest by way of equitable estopped - Misleading and deceptive conduct (NSW) Fair Trading Act 1984, s 42 whether representations made by defendants to plaintiffs that first defendant would take assignment as trustee for them amounted to misleading and deceptive conduct where representations were as to a future matter whether defendants had reasonable grounds for making representations Evidence where first defendant did not give evidence permissible inferences from failure to give evidence.
Ryleton Pty Ltd v Parramatta City Council [2008] NSWLEC 1397
Development Application - demolition of heritage item and erection of new dwelling; heritage assessment of item of local significance
Harris Farm Markets Cammeray Pty Ltd v North Sydney Council [2008] NSWLEC 1413
Development Application - use Unit CG-01 as a fruit and veg shop in a mixed use retail/commercial/ residential development, parking, traffic, compliance with zone and control plan objectives, economic impact on existing neighbourhood centre
Gracewood Australia Pty Ltd v State Water Corporation [2008] NSWLEC 292
Jurisdiction - respondent issued statement to applicant that applicant had used virtually all of its annual water allocation under licence issued under Water Act 1912 (NSW) - whether applicant's claim for alleged resultant lost opportunity of selling water allocation is within the jurisdiction of the Court. Costs - where proceedings purportedly brought in Classes 1, 2 and 3 of the Court's jurisdiction are outside jurisdiction and disclose no reasonable cause of action.
Section 96 Modification - External balconies, building revision controls, solar impacts and privacy
Groves says Business not a conflict
23 October 2008 Eddy Groves reportedly was engaged in a private property development business around Las Vegas with a builder who also constructed US childcare centres for ABC. The latest revelation involves Castle Development Group, a company set up in Nevada in 2004 in which Mr Groves was a founding business partner.
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Confusion over Brisbane 'property crisis'
22 October 2008 Talk of a looming property crisis in Brisbane is being played down, despite the collapse of a major development triggering speculation more will follow. According to Consolidated Properties Managing Director Don ORourke, the Brisbane office market is still going strong with 10 developments set to come online by the end of next year.
Sunland grabs last slice of Royal Pine Resort
21 October 2008 Queensland based developer Sunland has bought the residential development, marina and commercial centre component of the Royal Pines Resort from Morgan Stanley Real Estate for $28 million. The deal has made a loss for MSRE which sold the resort component, including a 330-room Crowne Plaza hotel, convention centre, 27-hole championship golf course and two sites capable of accommodating three high rise towers and a mid-rise development project, to Victorian motoring giant RACV for $60 million
Government cancels North Bank development
19 October 2008 The Premier has announced the North Bank development will be cancelled, after submissions following the recent Enquiry by Design (EBD) process showed that 93 per cent of people do not support the proposed North Bank development in its current form more...
Noosa development back on agenda
16 October 2008 A 27 allotment development at Noosa Springs is again being considered by the Sunshine Coast Regional Council. more...
Treasurer announces successful sale of Brisbane Airport shareholding
16 October 2008 Queensland Treasurer Andrew Fraser has announced that the Bligh Government has reached agreement for the $289.4 million sale of its 12.4 per cent shareholding in Brisbane Airport. The shareholding would be acquired by a number of existing shareholders of Brisbane Airport including Industry Funds Management, Schiphol Australia, entities of Colonial First State Asset Management and UniSuper
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Council wants $1.5m merger compo
14 October 2008 The Whitsunday Regional Council wants $1.5 million in compensation from the Queensland Government for the cost of amalgamation
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