Mortgage stress amid this week's Senate housing showdown + Three $20-plus Sydney property deals

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2 months ago

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EmailThis is what's moving in property this week.

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Italian-inspired "Noorilim Estate" at 205 Wahring Murchison East Road, Wahring, was the most viewed listing in Victoria on Realestate.com.au last week.

NEWS

Higher mortgage stress ahead of Senate housing showdown

Mortgage stress in NSW and Victoria has increased by more than 80 per cent in the past year, as the Albanese government pressures the Senate to back legislation that will increase housing supply.

Home building costs eclipse pre-pandemic prices by 40pc

The price of building a new house has soared more than 40 per cent in most states since the start of the pandemic, but conditions appear to be improving increases continue to mellow.

‘Desperately needed’ homes unlocked for the vulnerable

More than 13,700 new social and affordable homes will be built with federal funding in what is said to be the biggest social housing investment in more than a decade.

Growing number of Aussies falling behind on mortgage

Moody’s Ratings says mortgage delinquencies will continue to rise as Australians are squeezed by inflation and interest rates.

The surprising landlords offering affordable rental homes for essential workers

More affordable rental homes for low-paid essential workers are entering Australia’s property market as a growing sector emerges.

MARKET MOVERS

Warehouse giant wins capital backers for $3bn trust

Two Asian funds will pump $536m into a new club that will invest in a fund run by ESR in a sign that premium industrial real estate remains hot.

Slice of Westfield centre trades for $195m as JY inks deal

The sale is another sign that shopping mall values have reset and liquidity is back in the market.

Back on radar: REITs recovering from high rates, office market fears

The sector was beaten down by high interest rates and concerns about the office market, but now could be on the way back.

Lenders push Adgemis out of Sydney pubs

Around 100 to 150 staff are affected by the decision, which leaves New York financiers in control of five pub venues.

Glitter Strip now a struggle street for developers

The average price of Gold Coast apartments has soared to new highs as developers face surging costs and are forced to put projects on hold.

Discovery Parks owner eyes Aussie outback expansion

The $2bn G’Day Group is on the hunt for more regional assets after its recent acquisition of the Wilpena Pound Resort in the renowned Flinders Ranges.

✣ PRESTIGE PROPERTY

Penthouse sale sets staggering Manly price record

Property developer and investor Sam Arnaout’s Iris Capital Group has sold a Manly penthouse off the plan for more than $22m, eclipsing the previous record for the area.

Sydney sales break property records

Sales of $22m and $21m bring in big bucks for vendors. Plus, fancy owning the home of a young Don Bradman?

Escape to the country: your $2 million option

For $2 million you could have this grand 1914 homestead on 7000sqm, with a pool and tennis court, in South Australia’s Riverland. Who’s tempted?

COMMERCIAL PROPERTY

Real estate trusts staging a comeback with good yields

Growthpoint fund launch on back of $90m building play

Hellenic Club exits Williams Landing in $25m deal

WFH hit as ATO slashes Adelaide office space

Cabot forges into local market with $137m Matraville buy

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