- Transitioning support for auto supply chain companies
- Innovation in Australia
- New FBT entertainment cap introduced
- New reporting obligations for multinational companies
- Unlocking super
- The truth behind business failure
- 2015 Distinguished Family Business of the Year
- Melbourne plan refresh: The 2050 metropolitan planning strategy
- New fees hurt developers’ bottom line
- Payroll Tax Rebate – Action before 23 November 2015
- New South Wales State Budget 2015-16
- Western Australian Real estate & construction update
- Victoria Real estate & construction update
- South Australia Real estate & construction update
- Queensland Real estate & construction update
- New South Wales Real estate & construction update
- State revenue offices and the ATO information sharing
- Redundant corporate entities?
- Streamlined process for new business applications
- Imported building materials under scrutiny
- Tightened lending rules threaten industry growth
- Any GST hike must be offset
- New PM appoints Minister for Cities
- Reforming Australia’s Federation and Tax System
- A message from our Global Head of Real Estate & Construction
- Adelaide CBD property outlook – Key considerations
- The deadline is looming for the Exploration Development Incentive
- Valuing Employee Share Schemes (ESS) – Impending Tax Changes
- Queensland State Budget 2015-16
- New restrictions on entertainment salary packaging
- NADA conference day three
- NADA conference day two
- Do you have the keys to NADA 2015? Day 1
- South Australian State Budget 2015-16
- 27 Pay Periods in 2015/16
- Corporate simplification and solvent liquidations
- Fringe Benefits – Hidden FBT and deemed dividend issues
- NSW Payroll Tax Rebate
- SuperStream compliance
- Should I maintain my SMSF?
- Art and collectables as alternative investments
- Tax alert: GST ruling published
- Western Australian State Budget 2015-16
- New funding opportunities for Australian food & beverage companies
- Super fund investment choice – What are the options?
- Nominating beneficiaries for your superannuation benefits
- Superannuation consolidation
- Victorian State Budget 2015/16
- Encouraging innovation in Australia’s Life Sciences and Biotechnology industries
- Fraud in focus: Fraud and corruption in Banking and Financial Services
- The Federal Government's Tax discussion paper released today
- Tax alert: Refunds of excess GST
- New Employee Share Scheme Bill Introduced
- SuperStream employer webinars
- Staying vigilant against fraud
- Tax Alert: Are you meeting your employment tax obligations?
- Tax alert: No change to R&D tax offset rates
- Act now to be ready for FATCA
- Tax alert: Changes to Employee Share Scheme Tax Laws
- Tax alert: GST & remote housing accommodation
The NSW residential market has continued to report a steady growth with figures up 18.35% for all dwelling types. We also look at the Supreme Court’s new property dispute process and the unveiled location for the upcoming South West Airport.
NSW growth trends
The NSW residential market has continued to report a steady growth for the year with figures to 31 July 2015 up 18.35% for all dwelling types. The growth was also apparent in housing prices as they bounced back from previous months with a growth of 3.32%.
In Sydney, the commercial office market has also reflected similar growth trends reporting improved rental yields of 2.4% and capital growth up by 2.8% from the first quarter of the year. Rental yields in the retail market have also continued to rise with a 1.5% improvement in the quarter to 30 June 2015 with international retailers continuing to expand their presence within the country.
Real Property List in the Equity Division (The List)
The Supreme Court in NSW has announced the establishment of the Real Property List in response to the booming property market and changing property landscape. From 1 June 2015, all matters related to land must be commenced in the Real Property List including:
- contracts for sale of land
- easements or covenants over land
- any action under the NSW property legislation
Following the announcement of The List, it is expected that property matters in the Supreme Court will be resolved more efficiently as it aims to provide a more consistent approach to dealing with property and land disputes.
The efficient and effective resolution of property disputes would support the growth in the market as it provides greater investor confidence and stability despite the uncertainty in the financial markets.
Badgery’s Creek Airport approval granted
In last August, Commonwealth held land at Badgerys Creek was revealed to be the site for the new SSydney West Airport.
This comes on the back of the Government’s investment of $3.6 billion to improve the area’s roads and surrounding infrastructure.
The plan is for the airport to be fully functional within 10 years so by the mid 2020’s the area will be a hub of activity and provide many opportunities for property investment in both the residential and commercial spaces.
Next article: Queensland Real estate & construction update