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This is what's moving in property this week.
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NEWS
1
Families hurt in sharia home scheme
A western Sydney property development company that offered a Halal-friendly ‘interest-free housing solution’ has left hundreds of Muslim families facing ruin amid allegations it mortgaged its own mosque.
2
Loans rejigged to ease pressure
Mortgage holders are doing all they can – be it refinancing, extending their loans or moving to interest only – to find some budget relief as rates stay higher for longer.
3
Mortgage values fall as rate pain bites
The steep rise in interest rates forcing cash-strapped household borrowers to sell has contributed to an unexpected slide in home loan values through May, economists say.
4
Don’t underestimate the influence of forgotten gen X
They might be the forgotten generation stuck between two big personality eras, but a gen X spending boom is coming as they get set to inherit just as their kids stop depending on them.
MARKET MOVERS
Salta wins race to sign up Walkinshaw Group
The famed automotive group, best known for its racing team, is shifting to one of the country’s top industrial parks.
The French CEO on a mission to build more houses here
Benoit Bazin’s company might not have the cache of French names like Hermes or L’Oreal, but CSR’s new owner has a massive global impact on the humble home.
Chemist Warehouse titans bank on Melbourne retail
A consortium including billionaires Jack Gance and Mario Verrocchi has swooped on a high-profile corner block in Melbourne’s South Yarra for about $15m.
Redcape sells $136m trio of pubs as market bounces back
The pub company is selling the hotels to well-known buyers in a sign values have stabilised and more deals are in the wings.
✣ PRESTIGE PROPERTY
Cannon-Brookes buys up 19ha beachfront site
Annie Cannon-Brookes, the estranged wife of Atlassian co-founder Mike Cannon-Brookes, has bought real estate in Mission Beach as rumours swirl she is considering selling Dunk Island.
COMMERCIAL PROPERTY
Vivid fails to light up hotels on city’s edge
Hot property: Professionals on national expansion spree
Industrial vacancy spike as key precincts slow down
Offshore buyers driving property recovery
 
 
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