In the media
Commonwealth
Property valuations a risk for banks and developers, RBA
warns
Australia's central bank is warning of deteriorating
conditions in commercial property markets with developers and banks
exposed to high property valuations (11 April 2020).
More...
How coronavirus could forever change the look and feel
of Australia's cities and suburbs
Automated crosswalks, the rebirth of suburbia, electric
scooters - there are many quirky and nuanced ways that the
coronavirus outbreak could impact on urban life (11 April 2020).
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Results in: March capital city clearance rates
CoreLogic has revealed auction clearance rates across the
combined capital cities for the March quarter.
"Over the three months to March 2020, the clearance rate
across the combined capital cities came in at 62.5 per cent across
18,902 auctions, down from 70.3 per cent across 26,923 auctions
over the previous quarter (08 April 2020).
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Property developers reluctant to push ahead with new
projects
As projects in the design phase are placed on hold across
property sectors, uncertainty around the coronavirus pandemic is
expected to impact the construction industry for the remainder of
2020, according to Rider Levett Bucknall (08 April 2020).
More...
Covid-19 impact yet to hit lending
Housing loans fell 1.7 per cent in February, and while it
marked the first fall in nine months the Australian Bureau of
Statistics says the result was not due to the coronavirus pandemic
(08 April 2020).
More...
Commercial property: Deferrals, waivers mandated by
code
Landlords must offer rent waivers and deferrals
proportionate to their tenants' decline in turnover, the prime
minister has confirmed. The code will now drop down to the states
and territories for legislative implementation, and will be
overseen through a binding mediation process (07 April 2020).
More...
Rent relief available for tenants in Commonwealth
properties
The Commonwealth Government will waive rents for all its
small and medium enterprises and not-for-profit tenants within its
owned and leased property across Australia. The types of businesses
in scope of the policy include cafes and restaurants, childcare
operators, retail and local service providers, community
organisations and educational institution (07 April 2020).
More...
Commercial tenancy code of conduct
The Property Council of Australia will work closely with
state and territory governments on the detail of the implementation
of the new commercial tenancy code of conduct, but says there are a
number of questions unresolved by National Cabinet's decision
(07 April 2020).
More...
States and Territories to organise renters and
tenants
REIA president Adrian Kelly said he understood the
complexity the Federal Government has had, dealing with eight
jurisdictions in the realm of residential real estate (07 April
2020). More...
Commercial deals slump 80 per cent in first
quarter
The profitability of commercial property investments is
set to be tested over the coming months after an 81 per cent drop
off in transactions - the lowest quarterly volume since 2012 - was
recorded last quarter (06 April 2020).
More...
ASX wraps up volatile month of trade
Total capital raised dropped by 22 per cent to $4.16
billion compared to $5.32 billion the same time last year. As a
result of coronavirus uncertainty many big companies withdrew
guidance including Dexus, Mirvac, REA Group, Vicinity Centres and
Scentre Group (06 April 2020).
More...
ASIC warns real estate agents against advising tenants
to access super to pay rent
The corporate watchdog intervenes to stop real estate
agents advising tenants struggling to pay rent to withdraw money
from their superannuation, warning those who do so could face hefty
fines and jail time (30 April 2020).
More...
ASIC warns agents not to give financial advice to
struggling renters
Real estate agents have been warned they could face fines
and even jail time for offering unlicensed financial advice to
tenants struggling to pay their rent amid the coronavirus crisis.
The ASIC has called on real estate institutes across the country to
remind agents that they were unqualified to provide financial
advice (03 April 2020).
More...
Code of conduct for commercial tenancy
The Property Council of Australia has noted the direction
from the National Cabinet for the development of an industry code
of conduct for commercial tenancy. We welcome the recognition that
governments must also be part of the solution with meaningful
relief on land tax and other costs incurred by commercial property
owners (03 April 2020).
More...
Is this economic shut down what degrowth advocates have
been calling for?
As national and global economies grind to a halt in the
attempt to contain COVID-19, people may ask whether this shock to
the system resembles what 'degrowth' advocates have been
calling for in recent years (30 March 2020).
More...
NSW
Mirvac adds 357 apartments to $1bn Darling Harbour
plans
Mirvac has revised plans for the billion-dollar
redevelopment of the Harbourside Shopping Centre to include 357
apartments in Sydney's Darling Harbour (05 April 2020).
More...
Jobs boost through fast-tracked planning system
The NSW Government will cut red tape and fast-track
planning processes to keep people in jobs and the construction
industry moving throughout the COVID-19 crisis (03 April 2020).
More...
Construction hours extended to support industry during
COVID-19
Construction sites can now operate on weekends and public
holidays under new rules introduced by the NSW Government to
support the industry during the COVID-19 pandemic (02 April 2020).
More...
Urban taskforce welcomes NSW Government move to progress
the redevelopment of the Pyrmont Peninsula
"The release of 'Directions for the Pyrmont
Peninsula Place Strategy' by the Department of Planning,
Industry and Environment is a good start as it promotes the renewal
and redevelopment of Pyrmont and its surrounds. The new
"strategy" establishes the strategic framework for high
rise development in Pyrmont and the logical extension of the CBD
along the Pyrmont peninsular (30 March 2020).
More...
Queensland
Keeping Queen's Wharf Brisbane on track
Development of the $3.6 billion Queen's Wharf Brisbane
project will be helped along with the relaxation of the heavy
vehicle lock out period during COVID-19 (11 April 2020).
More...
PCA: Qld Government and landlords step up together to
support businesses hit by COVID-19
In particular, Queensland's property industry has
welcomed the State Government's decision to refund 3 months of
land tax, defer the implementation of the foreign land tax
surcharge, and defer the issuing of next year's land tax
assessments for eligible landlords (09 April 2020).
More...
Palaszczuk Government moves to protect retail and
commercial tenants
Commercial and retail tenants will be protected from
evictions under a series of measures to protect businesses and jobs
unveiled by the Palaszczuk Government (09 April 2020).
More...
Two new roads to connect almost 9000 new homes in Ripley
Valley
Around 8900 new homes can be built in Ripley Valley with
the Palaszczuk Government investing $20 million through its
Catalyst Infrastructure Program to extend vital local road networks
(09 April 2020).
More...
Have your say on the Oxley Priority Development Area
master plan
With the development application lodged for the Oxley
Priority Development Area, the master plan and stage one
residential works are now open for public review and comment (08
April 2020).
More...
New Woolloongabba PDA drives Cross River Rail
delivery
A new priority development area (PDA) has
been declared in Woolloongabba to support construction of the next
inner-city train station for the Palaszczuk Government's Cross
River Rail project (04 April 2020).
More...
In practice and courts
Commonwealth
RICS: New guidance improves health and safety reporting
for commercial properties
New guidance for chartered surveyors on building condition
reports for commercial property has been released by RICS to bring
further transparency to the purchase or sale of commercial assets.
The first edition of Technical due diligence of commercial property
will become the version to use for all regulated members and firms
globally on 1 April 2020.
More...
Review of the Lands Acquisition Act 1989: Discussion
paper
Details of how to make a submission are available on the
Department of Finance's
website. Submissions close on 17 April 2020.
Announcements, Draft Policies and Plans released 2019
Department of State Development, Manufacturing,
Infrastructure and Planning (DSDMIP)
8 April 2020 - Priority development area
On 2 April 2020, the Governor in Council approved the
Economic Development (Woolloongabba Cross River Rail PDA) Amendment
Regulation 2020. The amendment regulation revokes the Woolloongabba
Priority Development Area (PDA) and declares the
Woolloongabba Cross River Rail (CRR) PDA. The
Woolloongabba CRR PDA includes all land that is within the existing
Woolloongabba PDA but is larger and includes land east of Main
street (the Gabba).
More...
Title Registry Alerts
167 – Witnessing provisions during COVID-19
The Registrar of Titles has provided some guidance on
alternative witnessing provisions that can be used to assist in
witnessing of documents, where document lodgement cannot be
delayed. For example, where the transferor or mortgagor is in
COVID-19 related self-quarantine or self-isolation. These
alternative witnessing provisions can be found
here (03 April 2020).
More...
Cases
Paragreen v Lim Group Holdings Pty Ltd
[2020] VSCA 84
REAL PROPERTY – appeal – applicants registered
proprietors of land which includes part of a laneway –
respondent has unregistered restrictive covenant over laneway
pursuant to terms of settlement entered into with previous
registered proprietor of applicants' land – vendor's
statement in applicants' contract of sale of land attached
terms of settlement – whether trial judge erred in finding
applicants bound by terms of settlement – whether trial judge
erred in finding it would be fraud under ss 42 and 43 of Transfer
of Land Act 1958 for applicants to disregard restrictive covenant
– construction of contract of sale – terms of
settlement not included in definition of 'documents concerning
title' – applicants did not agree to be bound by terms of
settlement – no evidence that applicants gave undertaking to
be bound by terms of settlement – knowledge by applicants of
terms of settlement insufficient – leave granted –
appeal allowed – Bahr v Nicolay (No 2) [1988] HCA
16; (1988) 164 CLR 604, Body Corporate No 12870 v Aldal Pty
Ltd (2010) 29 VR 81 considered; Transfer of Land Act 1958 ss
42 and 43, Property Law Act 1958 s 79
Harvey v Emery & Ors [2020] VSC
153
PROPERTY – caveat – application for removal
– claim by defendants of interest in property arising from a
constructive or resulting trust – property sale and
distribution of net proceeds subject to orders made by Family Court
of Australia – whether serious question to be tried –
whether caveat ought to be removed and proceeds held pending
resolution of issues in proceeding – Transfer of Land Act
1958 (Vic) s 90
Redgum Developments Pty Ltd v G8 Education
Ltd [2020] VSC 142
CONTRACTS –construction – interpretation
– determination of market rent by expert valuer –
Dura (Australia) Constructions Pty Ltd v Hue Boutique Living
Pty Ltd [2013] VSCA 17 – Legal & General Life of
Australia v A Hudson Pty Ltd (1985) 1 NSWLR 314 –
Adnow Pty Ltd v Greenwells Wollert Pty Ltd [2016] VSCA 282
– Boland v Yates Property Corporation Pty Ltd [1999]
HCA 64; (1999) 74 ALJR 209 at 266 – Spencer v
Commonwealth (1907) 5 CLR 418 – Challenger Property
Asset Management Pty Ltd v Stonnington City Council [2011] VSC
184; (2011) 34 VR 445 at 456–7 – Strike Australia
Pty Ltd v Data Base Corporate Pty Ltd [2019] NSWCA 205 –
construction of provision of lease incorporating section 37(2) of
the Retail Leases Act 2003 (Vic) – requirement of the valuer
"having regard to" certain "criteria" –
R v Hunt, Ex parte Sean Investments Pty Ltd [1979] HCA 32;
(1979) 180 CLR 322 – Western Australian Trustees Ltd v
Poon (1991) 6 WAR 72 – Origin Energy Electricity Ltd
v Queensland Competition Authority [2012] QSC 414 –
Rathborne v Abel (1964) 38 ALJR 293
1043 Melton Hwy Pty Ltd v Commissioner of State Revenue
(Review and Regulation) (Corrected) [2020]
VCAT 396
Review and Regulation List – Duties Act 2000 (Vic),
s 20 – whether pre-settlement 'interest' paid forms
part of the consideration which 'moves' the transfer of
land – relevance of ruling by Commissioner of State Revenue
in relation to interest paid under a terms contract
The reassessment made by the Commissioner of State Revenue
(Commissioner) on 19 September 2018 (as confirmed by notice of
re-assessment no 17589724) is varied to reduce the duty to
$7,026
Corry v Rolfe (Building and Property)
[2020] VCAT 325
Contract formation – whether offer and acceptance
– found, counter-offer made resulting in no acceptance and no
contract – importance of best evidence where failure to
produce original documents and where those documents under close
scrutiny – insufficient evidence to support a finding of a
written retail premises lease – note or memorandum signed by
party to be charged: Instruments Act 1958 s126 – a lease is
not created by operation of the Retail Leases Act 2003 –
implied periodic lease found – implied periodic lease is
subject to the Retail Leases Act 2003 where the character of
occupation is that of a 'retail premises lease' –
mode of termination arises under periodic lease
Zumbo v Brisbane City Council & Ors
[2020] QPEC 14
PLANNING AND ENVIRONMENT – APPLICATION –
whether minor change – where the applicant/appellant proposes
to decrease the height of the proposed apartment building –
whether that would result in substantially different development
– whether changes would not result in substantially different
development
Cases to 30 March 2020
Plath & Anor v Plath [2019] QDC
42
CONTRACT OF SALE OF PROPERTY – ENFORCEMENT OF
MORTGAGE – RECOVERY OF POSSESSION – whether it was a
gift – estoppel defence – set off defence at common law
or equity – COUNTERCLAIM – damages – limitations
of actions act - Limitations of Action Act 1974 Qld ss 10(1)(a),
10(2)
Sunland Group Limited & Anor v Gold Coast City
Council [2019] QPEC
14
PLANNING AND ENVIRONMENT – APPLICATION –
declarations sought as to the continuing effect of infrastructure
charges conditions imposed pursuant to a preliminary approval under
s 3.1.6 of the Integrated Planning Act 1997 – did conduct by
the respondent give rise to an Infrastructure Agreement pursuant to
the Sustainable Planning Act 2009 - Integrated Planning Act 1997
Qld; Planning Act 2016 Qld; Sustainable Planning Act 2009 Qld;
Sustainable Planning (Housing Affordability and Infrastructure
Charges Reform) Amendment Act 2011 Qld
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.