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Property Services Commissioner will look after interests of consumers

Better support for real estate consumers will be a big part of the job of Property Services Commissioner. The NSW Government says it will soon name the person to fill the new role, expected to be someone who is an expert in the real estate industry. Minister for better regulation and innovation Kevin Anderson says the new Commissioner will join the Property Services Expert Panel and is the next step in the government’s commitment to supporting the property and real estate sector while restoring public confidence in the industry and the regulator. “I am determined to properly support the property… Read more »

Commercial leases: Institute rings bell on zombies and phoenixes

Commercial real estate agents have been warned to watch for “zombie” and “phoenix” companies seeking new commercial leases in the midst of the Covid-19 crisis. The Real Institute of NSW says businesses that can only survive with pandemic-related government support are referred to as “zombies” that are unlikely to live beyond their hand-outs or complete a multi-year commercial lease. “Phoenixes” are just as unreliable; they are failed enterprises rebirthed under new names by the same directors. Commercial agents need to double down on their due diligence of prospective tenants to ensure they are sustainable beyond government support and have the… Read more »

Under quoting crackdown: spotlight on real estate agents

Fair Trading inspectors will be visiting real estate agencies, auctions and open homes across Sydney’s suburbs this week to crack down on property underquoting. Better regulation minister Kevin Anderson said teams of inspectors will be focusing on the illegal practice of falsely advertising property or indicating it will sell for less than its estimated selling price. “With so many people in NSW looking to buy, the last thing that potential homebuyers need is to have their time and money wasted by real estate agents providing misleadingly low and incorrect price estimates,” Mr Anderson said. “That’s why I’m sending teams of… Read more »

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Commercial leases: Institute rings bell on zombies and phoenixes

Commercial real estate agents have been warned to watch for “zombie” and “phoenix” companies seeking new commercial leases in the midst of the Covid-19 crisis. The Real Institute of NSW says businesses that can only survive with pandemic-related government support are referred to as “zombies” that are unlikely to liveRead more »

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Under quoting crackdown: spotlight on real estate agents

Fair Trading inspectors will be visiting real estate agencies, auctions and open homes across Sydney’s suburbs this week to crack down on property underquoting. Better regulation minister Kevin Anderson said teams of inspectors will be focusing on the illegal practice of falsely advertising property or indicating it will sell forRead more »

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Work starts on giant Wilton Greens residential development

Civil and subdivision works have started on Risland Australia’s $1.5 billion Wilton Greens project. Wilton Greens is located in Wilton, Wollondilly, and is just 30 minutes from Campbelltown by car. The development spans 433 hectares and will comprise 3,600 land parcels with a variety of housing types. It will featureRead more »

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Affordable housing gets $100 million boost in Liverpool

Development applications for affordable rental housing valued at almost $100 million received the green light in Liverpool last year. The approved developments are:   ·        $22 million: 4-6 Bigge Street, Warwick Farm, containing 52 apartments, all for affordable rental housing;  ·        $21.5 million: 1-9 Anderson Avenue, Liverpool, containing 63 apartments, including 34 for affordableRead more »

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Catherine Park housing lots selling like hot cakes

Two Saturdays in a row new housing lots at Catherine Park Estate have been snapped up by eager buyers. The estate, which was developed by Harrington Estates (Harrington Grove, Harrington Park) put 38 lots for sale last Saturday, February 27, with prices starting from $420,00. The lots in a newRead more »

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Stamp duty relief gives first homebuyers leg up

More than six thousand additional first homebuyers have gained a foothold on the property ladder in just six months following the NSW Government’s decision to provide additional relief on stamp duty. Premier Gladys Berejiklian said the latest data indicated the great Australian dream of home ownership remained strong, with theRead more »

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Ed.Square name Ignite as childcare centre operator

Frasers Property Australia have announced Ignite Early Learning Centre will be the childcare centre operator at Ed.Square. The centre is set to open in the second half of 2021 and will have spaces for 140 children. “Part of our promise at Ed.Square was to integrate a quality, convenient childcare serviceRead more »

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State Government cracks down on trust fund fraud

The NSW Government, which has been on the trail of real estate agents stealing from trust funds and rental bond money, has rounded up 13 agents responsible for illegally pocketing $6 million since November 2019. Better regulation minister Kevin Anderson says the Berejiklian Government has been cracking down on rogueRead more »

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Tree changers drive up demand for rural residential land

Demand for rural residential homesites continues to significantly increase and is expected to drive property sales in 2021 as more purchasers seek an affordable tree change lifestyle away from the Sydney CBD.  Urban Land Housing is bringing forward the launch of Stage 4 in The Acres, Wollondilly following unprecedented demandRead more »

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BASIX of saving water and reducing emissions at home

The Building Sustainability Index (BASIX) is an online sustainability assessment tool that ensures proposed residential developments meets sustainability targets and is one of the main drivers of energy and water efficiency for housing in NSW. Since its introduction in 2004, more than 460,000 homes have been certified as BASIX compliant,Read more »

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Record prices for final home sites sold in Harrington Grove

Saturday’s auction of the final five remaining blocks of land in Harrington Grove’s Dancerwood precinct saw record prices for Harrington Estates and what is thought to be a sales record for the region.  The prices for the five blocks, pictured, ranged from $770,000 to $1.205 million, with plenty of healthyRead more »

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