2010 State Budget offers incentives for NSW home builders
The NSW property market has been given a boost in the 2010 State Budget with incentives for those building their own home.
Date: Jul 02, 2010
Amendments to the Home Building Act 1989 receives Royal Assent
The Home Building Amendment Bill 2008 ("the Bill") received Royal Assent on the 28th November, 2008. The Bill has amended the Home Building Act 1989 ("the Act") to make further provision for the suspension of building licenses, the taking of disciplinary action and the requirements for home warranty insurance.
Date: Jan 03, 2009
Bonus boost for first home buyers
The NSW government has increased the first home owners grant for those buying new dwellings by $3,000, in the mini-budget released on 11 November 2008, in a surprise move aimed at stimulating the ailing housing market. The economic sweetener takes the grant to $24,000, including recent increases from the federal government.
Date: Dec 03, 2008
Changes to law surrounding retirement villages
The Retirement Villages Amendment Bill 2008 passed through Parliament on the 10th December, 2008 and will amend the existing Retirement Villages Act 1999 which regulates the retirement village industry in New South Wales.
Date: Feb 02, 2009
Fraud and Indefeasibility of title under the Torrens Title System
The recent New South Wales Court of Appeal decision in Sabah Yazgi v Permanent Custodians Limited [2007] NSWCA 240 considered what was secured by a mortgage when the signature of one of the parties was forged.
Date: May 01, 2008
Insurance is so confusing
Any home-owner is going to find themselves dealing with numbers of different types of insurance policies, and for many this is a jungle. Let us have a look at the different types of insurances which may be important to home owners.
Date: Apr 03, 2010
Just what is strata title?
Strata title is a New South Wales invention, which was instigated by major property developers in 1960. The building of unit blocks was becoming popular, but there was then no means of giving buyers a Torrens title deed as they would have received if they had bought a free-standing home.
Date: Aug 03, 2009
Landlords and the Law: Top 5 Tips for Landlords
Date: May 02, 2010
Leasing a Commercial Property
In recent newsletters we have had a look at leasing or renting residences and retail premises. The other type of properties often leased are commercial or industrial premises, and typical of these will be office premises, industrial units and workshops of various kinds.
Date: Nov 01, 2009
Leasing a Shop
The vast majority of shops, whether they be in a large suburban shopping centre or in a suburb, are owned by the operator, and in many cases the premises are leased from the land-owner. The Retail Tenancies Act provides a code dealing with leases of retail premises, and is primarily designed to protect tenants.
Date: Oct 03, 2009
Let the lender beware
With a population which is aging, but is also mobile, more and more of us are giving Powers of Attorney, usually to partners or family. The usual Power of Attorney gives the attorney the power "to do on my behalf anything I may lawfully authorize an attorney to do". It also says, "This power of attorney is subject to the following conditions and limitations", and commonly the word "nil" appears there.
Date: May 02, 2009
Mortgage mayhem: An update on housing affordability
On March 13 2008 JP Morgan and Fujitsu Consulting released a new report entitled “The JP Morgan/Fujitsu Australian Mortgage Industry Report for March”. The report is based on the results of telephone interviews with 26,000 Australian households, and follows decisions by the major banks to increase their standard variable home loan rates by more than the 25 basis point increase of the Reserve Bank on March 4.
Date: Apr 04, 2008
Mortgage Stress
One of the sad signs of the effect the Global Financial Crisis is having on Australia is the increasing number of people suffering "mortgage stress", and of mortgage foreclosures. In this Newsletter we shall have a look at mortgages, how they work and what you can do if you are facing difficulties.
Date: Apr 02, 2009
New policy to scrap concurrences and referrals
The Department of Planning has released an exposure draft of the Concurrences and Referrals State Environmental Planning Policy (SEPP), which will further streamline the processing of development applications and give councils given greater decision-making autonomy.
Date: Aug 04, 2008
NSW leads way on occupational licensing
Federal Small Business Minister, Craig Emerson, says a review by the NSW Government that could result in the removal of unnecessary occupational licences would make the State more attractive to qualified people from interstate.
Date: Nov 02, 2008
NSW planning laws under scrutiny – LGSA calls for inquiry
The state's recent planning laws have come under scrutiny, sparking calls by the Local Government and Shires Associations of NSW (LGSA) for an Upper House Inquiry.
Date: Jul 02, 2008
Planning and Development Activities in NSW: How to Change the Use of a Property
In New South Wales, planning and development activities are carried out under the Environmental Planning and Assessment Act 1979 (NSW). The legislation creates a complex system of state, regional and local planning.
Date: Jun 04, 2010
Property Lines, Fences & Trees
In Australia, most of the laws that govern property boundaries are determined by state legislation and vary from state to state. Fencing regulations often vary between local, shire and regional councils. Housing estates or residential communities may also have specific regulations about fencing. For up-to-date information, it is advisable to contact your local council or a solicitor in the state where the property is located.
Date: Jan 02, 2010
Renting a home
In New South Wales there are three main types of leases:- residential leases, retail leases and commercial leases. In this newsletter we shall look at residential leases, which are governed by the Residential Tenancies Act.
Date: Sep 02, 2009
Sartor introduces raft of planning reforms
NSW Planning Minister Frank Sartor has announced three bills were tabled in the State Parliament on 15 May, as part of reforms to create an efficient and streamlined planning system.
Date: Jun 01, 2008
The New South Wales Housing Code to commence on 27th February 2009
Development applications in New South Wales are set to be overhauled with the introduction of the New South Wales Housing Code commencing on the 27th February, 2009 ("the Housing Code"). The Housing Code has been introduced within the State Environmental Planning Policy (Exempt and Complying Development Codes) 2008 ("the SEPP") and provides for new detached houses and additions to be approved within ten days.
Date: Mar 02, 2009
The rise in illegal rent auctions
On 21 August 2008 the Housing Industry Association (HIA), Australia’s largest building industry association, released the most comprehensive report card available on the NSW residential sector. The report predicts a shortage of 18,000 dwellings across NSW in 2008-2009 alone, and also that fewer than 30,000 homes will be built in NSW for the third year in a row. A spokesman for the HIA said that the housing sector has become so undersupplied that illegal rent auctions were likely to escalate.
Date: Sep 01, 2008
Under the microscope - the retail tenancy market in Australia
The Productivity Commission has just released its report, “The Market for Retail Tenancy Leases in Australia”. The Commission’s inquiry stemmed from issues arising from the growing concerns of small businesses that elements of the market for retail leases were being distorted, resulting in the exploitation of tenants.
Date: Oct 02, 2008
What Exactly is Conveyancing?
Conveyancing is a legal term for legal transactions involving real estate. It can involve buying and selling, financing, leasing and other areas such as subdividing and the creation of easements and covenants. Australia has one of the highest percentages of home ownership in the world, so many of us will be involved in a conveyance during our lives.
Date: Jul 02, 2009
What is a mortgage?
In days of the GFC, we hear a lot about interest rates, mortgagee sales and the like, so what exactly is a mortgage? A mortgage is a document which secures a loan against property and is usually registered with the Land Titles Office.
Date: Dec 02, 2009
What is property?
When we talk about property we usually use the word in a general sense - meaning anything someone owns. Often we use the word when talking about real estate - "We have a property in Queensland", or referring to a rural farm.
Date: Feb 02, 2010
What on earth is an easement
Our own Australian Torrens land title system is remarkably straight forward. You can look at your title deed, known as a Certificate of Title, and see who the owner is. Also listed on the deed are "Notifications" matters which affect the title, and the most common of these are mortgages, leases, easements and covenants.
Date: Jun 02, 2009
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