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Inside track: Property & Real Estate

10 September 2019

#Property & Real Estate

Inside track: Property & Real Estate

In the media

Commonwealth

REITs outperform broader market
The sprawling listed property trust sector has outperformed the broader market despite concerns about sagging demand from retail tenants (28 August 2019).  More...

GBCA: Green or blue, social infrastructure is the glue
The GBCA and the Infrastructure Sustainability Council of Australia will launch updated guidelines to ensure we get the most sustainable outcomes from every dollar spent on infrastructure. Our new guidelines support better integration as an increasing number of projects pursue dual ratings under the IS and Green Star rating systems (29 August 2019).  More...

‘Underlying issues’ flagged in secondary office markets
New research has revealed there are several lingering issues impacting secondary office markets in four major CBD markets. The latest CBRE ViewPoint report has examined current activity in Australian capital cities’ secondary markets – a broad term used to describe B, C and D grade office buildings (28 August 2019).  More...

Climate change key in home-buying process
According to REIQ CEO Antonia Mercorella, climate change has become “the new due diligence”, with home buyers putting this on their agenda alongside the typical building and pest inspections, utility access and land boundary checks (28 August 2019).  More...

Housing policy? Mortgage stress rises as debt soars for older Australians
Rising mortgage debt in later life is a growing social and economic issue, reveals the Australian Housing and Urban Research Institute, affecting wellbeing, retirement wealth management and housing assistance programs (28 August 2019).  More...

Homeowners fork out $10bn to repair defects
Building defects have cost new home owners a staggering $10.5 billion throughout the past decade, according to a national survey undertaken by financial research and comparison group Mozo (28 August 2019).  More...

NFIA: Australia’s fire industry should face mandatory licensing
Based on historical data it can be said that fire safety systems in numbers of buildings in Australia are non-compliant and are at high risk of not protecting the occupants of a building in the event of fire (22 August 2019).  More...

Are our major cities about to run out of office space?
RBA’s push for ‘full employment’ could create demand for one million square metres of extra office space a year, according to the latest Colliers International Research and Forecast Report for CBD office markets (28 August 2019).  More...

Australia trails UK on build-to-rent but poised to catch up
Although the market for build-to-rent (BtR) is maturing in places such as the UK, it has yet to take off in Australia. Australia’s softening property market and ongoing demand for new housing are the right conditions to establish a BtR sector in Australia, according to UK BtR specialist (27 August 2019).  More...

PCA: Building ministers need to maintain momentum on regulation compliance and enforcement
Australia’s building ministers must continue the momentum on building regulation compliance and enforcement to deliver better outcomes for property owners and tenants (20 August 2019).  More...

Victoria

New engineering registration scheme to improve safety
Professional engineers in Victoria will be required to be registered under a new scheme – strengthening the critical role engineers play in the delivery of the Andrews Labor Government’s record infrastructure pipeline. Initially, the scheme will cover five categories of engineering – structural, civil, mechanical, electrical and fire safety (29 August 2019).  More...

Fishermans Bend gets Victoria’s first digital twin
The University of Melbourne and Victorian Government will partner to develop a digital twin for Fishermans Bend. This sophisticated technology is a first for Victoria. It will provide 3D context and illustrate the human and built relationships within the local environment (26 August 2019).  More...

New planning mechanisms for affordable housing
Reforms to planning make it easier for Councils and developers to negotiate voluntary agreements to include affordable homes in residential developments (22 August 2019).  More...

NSW

Essential for NSW planning Minister to ‘clear decks’ for new development
“Planning approvals have been dropping fast across Sydney with a 59 per cent drop in the City of Sydney for housing approvals over the last two years. Says Urban Taskforce CEO Chris Johnson “It is therefore good news that Planning Minister Stokes is now talking the language of ‘clearing the decks’ to speed up planning determinations across Metropolitan Sydney.” (28 August 2019).  More...

Queensland

Developer Shayher Group buys Bulimba Barracks
A 20-hectare riverside development site has been sold by the federal government to developer Shayher Group in a major transaction that could see up to 855 new homes on the well-known inner Brisbane site, the Bulimba Barracks (29 August 2019).  More...

A 'hint of optimism' with 1000 new Brisbane apartments to go on sale
Developers are experiencing a "hint of optimism" about Brisbane's new apartment market (29 August 2019).  More...

Morris Property to kick off construction on ATO’s new Brisbane digs
Morris Property Group will push on with construction of its 27-storey office tower having secured a major leasing deal with the Australian Taxation Office at its 152 Wharf Street site on Brisbane's city fringe (28 August 2019).  More...

PCA: Howard Smith Wharves crowned Retail Property of the Year
Howard Smith Wharves has been awarded the title of 2019 Queensland Retail Property of the Year, the state’s most prestigious retail property title. Howard Smith Wharves is an outstanding example of urban regeneration, capturing some of the most iconic parts of our city (27 August 2019).  More...

PCA: Building Queensland releases 2019 Infrastructure Report
The Property Council is pleased to see the inclusion of transport corridors which will provide visibility of the broader planning from which specific proposals are then developed and progressed through the pipeline (22 August 2019).  More...

PCA: Victoria Park Vision: Consultation open
Brisbane City Council has announced The Victoria Park Vision; a proposal to develop the Victoria Park Golf Course into the biggest park Brisbane has seen in 50 years. Brisbane City Council has announced plans to turn the current site of the Victoria Park Golf Course into a massive public park (22 August 2019).  More...

Mirvac continues office push with Brisbane's ‘healthiest’ tower
Listed developer Mirvac has broken ground on its $836 million 80 Ann Street Brisbane CBD tower, promoting it as Brisbane's “healthiest” commercial building (21 August 2019).  More...

Brisbane industrial market experiencing 'boom like conditions'
Queensland’s booming industrial market has continued to strengthen with population growth, e-commerce and infrastructure projects acting as key market drivers (19 August 2019).  More...

Published – articles, papers, reports

Inquiry into recycling and waste management: Interim report
Legislative Council Environment and Planning Committee (Vic); Parliament of Victoria: 27 August 2019
Around the time of the commencement of this inquiry, there was a major fire in Campbellfield, which had significant impact on businesses and the community in the area and highlighted the need to avoid dangerous stockpiling of recyclable materials. This interim report deals with the issue of the risks of stockpiling of recyclable materials and how these risks are being managed.  More...

Accelerating change: Capital growth in climate solutions
Investor Group on Climate Change: 20 August 2019
The headline insights presented in this report provide a snapshot of current investor sentiment, highlighting some of the factors driving investor thinking and behaviour as they seek to respond to climate change risks and pursue emerging low carbon investment opportunities.  More...

REIA news - August 2019
Feature article: Australasian Real Estate Institutes’ Auctioneering Championships 2019 – Meet the Finalists. Also in this issue: Your questions answered on Landlord Insurance; ATO’s advice on GST at Settlement.  More...

Mortgage stress and precarious home ownership: implications for older Australians
Rachel Ong, Gavin Wood, Melek Cigdem, Silvia Salazar
Australian Housing and Urban Research Institute: 27 August 2019
This research investigated the growing numbers of middle-aged and older Australians who are carrying mortgage debt into retirement and paying off higher levels of debt relative to house values and income. Between 1987 and 2015, mortgage debt among older mortgagors increased by 600 per cent (from $27,000 to over $185,000). These trends have significant consequences for older Australians.  More...

Infrastructure pipeline report: August 2019
Building Queensland: 26 August 2019
Queensland’s growing and ageing population, coupled with ageing infrastructure assets and increased risks of extreme weather are just some of the challenges being addressed by the proposals in this report.  More...

In practice and courts

Commonwealth

API: ABFI Residential Valuation Standing Instructions version 2.2.1
The Residential Valuation Industry Group has conducted a review of V2.1 of the ABFI Residential Valuation Standing Instructions (ABFI RVSI), and have subsequently released a revised version. Version 2.2.1 of the ABFI RVSI will come into effect on 1 October 2019. The current document, namely Version 2.1, will operate until that time. A copy of Version 2.2.1 is available here (28 August 2019).  More...

API: ABFI Residential Valuation Standing Instructions Version 2.2
The Residential Valuation Industry Group has conducted a review of V2.1 of the ABFI Residential Valuation Standing Instructions (ABFI RVSI), and have subsequently released a revised version. Version 2.2 of the ABFI RVSI will come into effect on 1 October 2019. The current document, namely Version 2.1, will operate until that time.  More...

GBCA Important Deadlines - Green Star certification for your project
Many project teams have timelines set around major events. To support this, these guidelines below (based on typical time frames), which specify the deadlines you’ll need to meet in order to have your project certified in time for key milestones in 2019. Deadlines are from 08 April – 04 November 2019.  More...

Announcements, Draft Policies and Plans released 2019

API:  NSW Member Alert – Changes to the NSW EP&A Act 1979 – Interim Occupation Certificates
This Member Alert is to advise Members of the new Part 6 provisions to the Environmental Planning and Assessment Act (EPAA) 1979 commencing 1 September 2019.  More...

Queensland

New Environmental Protection Regulation and Environmental Protection Policies
The Environmental Protection Regulation 2008 and Environmental Protection Policies for Air, Noise and Water will expire on 1 September 2019. The expiring legislation will be replaced by the:
Environmental Protection Regulation 2019; Environmental Protection (Air) Policy 2019; Environmental Protection (Noise) Policy 2019 and Environmental Protection (Water and Wetland Biodiversity) Policy 2019.  More...

Current Consultations

Department of Justice and Attorney-General
Body Corporate and Community Management Regulations – Consultation on Draft Legislation Closes 18 October 2019 - The community and stakeholders are invited to have their say on proposed reforms to regulations under the Body Corporate and Community Management Act.

BCC: Draft design guide - low-to-medium density housing
The draft New World City design guide - Subtropical homes for a Brisbane lifestyle will provide advice and support to encourage quality design of townhouses and apartments up to five storeys. Consultation has now commenced and will close on 13 September 2019.  More...
BCC: Design strategy for Brisbane
Design-led City - a design strategy for Brisbane intends to outline a vision for design quality across Brisbane's built environment. The consultation document sets out the draft priorities and design values to guide design outcomes for all development and infrastructure projects, and identifies potential actions to support, regulate, reward and implement quality design in Brisbane. Consultation will close on 13 September 2019.  More...

PCA: Queensland planning policy update
A number of local and state government related planning decisions impacting the property sector have been released.
New Model Code for Neighbourhood Design
Queensland Government has released a new model code for neighbourhood design, and is proposing to make parts of the code mandatory. The Queensland Government is seeking feedback on what parts of the code to make mandatory with consultation closing on 1 September 2019.   More...

DNMRE current consultations
Moreton: Targeted amendment of the water plan
Closes: 1 October 2019. We are seeking feedback on a new draft water plan amendment.

Sunshine Coast Incentives
Sunshine Coast Council has announced a three-year extension to its Infill Development Incentives Policy which offers incentives for infill development on the Sunshine Coast. All applications for an incentive must be submitted to Council between 1 July 2019 and 30 June 2022.  More...

Note: Safer buildings: Parts 2 and 3a deadlines extended
Bodies corporate and building owners across Queensland have been given additional time to complete Parts 2 and 3a of the Safer Buildings combustible cladding checklist. The new deadlines will be as follows:
Part 2: extended from 29 May 2019 to 31 July 2019
Part 3a: extended from 27 August 2019 to 31 October 2019.  More...

Attorney General: Free state-wide seminars explain body corporate laws
Queensland’s Office of Body Corporate and Community Management will host free seminars across the State to help inform community members about body corporate laws. The seminars will be held in late August and September at the Gold Coast, Logan, Brisbane, Sunshine Coast, Hervey Bay, Gladstone, Mackay, Townsville and Cairns.  More...

Cases

Cases to 26 August 2019

Harris v K7@Surry Hills Pty Ltd [2019] VSC 551
PROPERTY LAW – sale of land – whether lawful rescission or wrongful repudiation by purchaser – anticipatory breach by vendor of special condition in contract – purchaser lawfully rescinded contract – Koompahtoo Local Aboriginal Land Council v Sanpine Pty Ltd [2007] HCA 61; (2007) 233 CLR 115.
PROPERTY LAW – whether purchaser rescinded contract pursuant to s 9AC(2) of the Sale of Land Act 1962 (Vic) – Deming No 456 Pty Ltd v Brisbane Unit Development Corporation Pty Ltd (1983) 155 CLR 129; Besser v Alma [2012] VSC 460; JD No 6 (Dava) Pty Ltd & Anor v P Battlay Holdings Pty Ltd [2011] VSC 353; Lockwood v PSP Investments Pty Ltd [2013] VSC 10 and Ausgrand Pty Ltd v Stephanie Michele Freeland-Small [2016] VCC 942 considered.

Lasker v Holeszko [2019] QCA 163
APPEAL AND NEW TRIAL – PROCEDURE – QUEENSLAND – WHEN APPEAL LIES – FROM MAGISTRATES COURT – BY LEAVE OF COURT – FROM DISTRICT COURT – BY LEAVE OF COURT – where the applicant was charged with four offences against the Sustainable Planning Act 2009 (Qld), with the matter proceeding to a hearing before the magistrates court – where the magistrate, after delivering reasons, including findings that the applicant should be found guilty in respect of each of the four charges, and making orders to that effect by consent, adjourned the matter to a later date for the determination of penalty and costs – where the applicant lodged a notice of appeal in the District Court under s 222 of the Justices Act 1886 (Qld), prior to the penalty and costs hearing, seeking that the “convictions” imposed by the magistrate be quashed – where the respondent successfully applied to have the s 222 notice of appeal struck out, on the basis that a right of appeal did not exist until after penalty and costs had been decided and the complaint was “disposed of with final orders” – whether the orders made by the magistrate gave rise to a right of appeal under s 222 – whether the learned District Court judge erred in striking out the s 222 notice of appeal – whether leave ought to be granted to the applicant to appeal against the decision of the learned District Court judge.
District Court of Queensland Act 1967 Qld s 118; Justices Act 1886 Qld s 146, s 222, s 225; Penalties and Sentences Act 1992 Qld s 3 .

Chief Executive v Di Carlo [2019] QPEC 40
Environmental Protection Act 1994; Fire and Rescue Service Act Requisition (No 1)2011.
Within 67 days of the date of this order, the Respondent must provide a statutory declaration to the Applicant demonstrating compliance with paragraphs 1 and 2 of the order. Within 30 days from the date of this order, the Respondent must establish and maintain a clean 10 metre firebreak around the entire boundary of the premises.

Riverstone Resources Pty Ltd v Thorcran Grazing Pty Ltd as Tte [2019] QLC 33
PROCEDURE – CIVIL PROCEEDINGS IN STATE AND TERRITORY COURTS – COSTS – GENERAL RULE: COSTS FOLLOW EVENT – GENERAL PRINCIPLES AND EXERCISE OF DISCRETION – where the respondent objected to the applicant’s application for a mining lease – where the applicant subsequently abandoned its application for a mining lease – where the applicant did not explain why it abandoned the application – where it was open to the Court to draw an inference that the applicant was concerned about its ability to meet the grounds of objection – where the Court awarded fixed costs in favour of the respondent. Mineral Resources Act 1989 Qld s 268(8); Land Court Act 2000 Qld s 34(1)

Legislation

Queensland

Subordinate legislation as made – 30 September 2019
No 159 Water Plan (Burdekin Basin) (Postponement of Expiry) Notice 2019

Subordinate legislation as made - 28 August 2019
No 173 Proclamation No. 1—Natural Resources and Other Legislation Amendment Act 2019 (commencing certain provisions)
No 174 Land Title Amendment Regulation 2019

Subordinate legislation as made - 23 August 2019
No 158 Rural and Regional Adjustment (Farming in Reef Catchments Rebate Scheme) Amendment Regulation 2019

Subordinate legislation reminder
No 153 Environmental Protection (Air) Policy 2019
This regulation commences on 1 September 2019
No 154 Environmental Protection (Noise) Policy 2019
This regulation commences on 1 September 2019
No 155 Environmental Protection Regulation 2019
This regulation commences on 1 September 2019
Includes Environmental impact statements, environmental management and environmental offences, Public notice for notifying environmental harm

Disclaimer
The information in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, we do not guarantee that the information in this newsletter is accurate at the date it is received or that it will continue to be accurate in the future.

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