Latest
How South Korea’s giant pension funds fell prey to $395m NDIS housing scam
The elaborate fraud succeeded by making grand claims, name-dropping Australia’s biggest property players, and was only discovered by chance.
- Michael Bleby
Man behind $395m NDIS investment fraud gets 12 years in prison
The verdict brings to an end a criminal matter in which the former property developer used fake documentation to secure financing from Korean pension funds.
- Michael Bleby and Campbell Kwan
Why Australia is falling behind the world in building houses
The nation is building thousands fewer homes than other countries, with Victoria and NSW experiencing the longest development approval delays.
- John Kehoe
- Exclusive
- South-east Queensland
Miles gives in to councils with $350m bid to fast-track housing
The Queensland premier will unveil a new fund to fast-track housing development in urban areas across the state, incentivising developers to transform industrial zones and low-density suburbs.
- James Hall
Property fund manager’s stock pops as it says goodbye to Europe
In a transformational deal, long struggling Cromwell has sold out of its European exposures, sending its stock surging as investors welcomed the move.
- Nick Lenaghan
Coles property boss says building woes could force up grocery prices
Coles property boss Fiona Mackenzie says not being able to deliver new supermarkets as planned could force up the prices of grocery items.
- Larry Schlesinger
How it Sold
First home buyers purchase from investors in $780,000 sale
This Central Coast home’s proximity to the M1 highway made it popular with tradies commuting to Sydney – and with rates outlooks stabilising, they were confident about buying.
- Michael Bleby
The complicated $1.8m sale of a ‘gamble’ that didn’t pay off
A suburban family bought their neighbours’ house to give them a larger block, but when interest rates went up further something had to give.
- Michael Bleby
Luxury Property
Rich foreign property buyers are not the problem, their agents say
Luxury property “concierge” Monika Tu says Peter Dutton’s plan to ban foreign property buyers for two years is “absolutely ridiculous” and could fuel perceptions of racism.
- Bonnie Campbell and Nila Sweeney
- Exclusive
- Luxury property
Racing heavyweight lists $5.3m penthouse with three terraces
Steve Rosich, who resigned as CEO of the Victorian Racing Club, is selling his Toorak penthouse, while former David Jones CEO Mark McInnes has completed his mansion upgrade nearby.
- Bonnie Campbell
More From Today
Rich foreign property buyers are not the problem, their agents say
Luxury property “concierge” Monika Tu says Peter Dutton’s plan to ban foreign property buyers for two years is “absolutely ridiculous” and could fuel perceptions of racism.
- Bonnie Campbell and Nila Sweeney
- Exclusive
- Luxury property
Racing heavyweight lists $5.3m penthouse with three terraces
Steve Rosich, who resigned as CEO of the Victorian Racing Club, is selling his Toorak penthouse, while former David Jones CEO Mark McInnes has completed his mansion upgrade nearby.
- Bonnie Campbell
- Exclusive
- Luxury property
Rich Lister behind Lego movies buys $12m Byron digs
Animal Logic co-founder Zareh Nalbandian has paid $12 million for a Byron escape after selling his animation studio to streaming giant Netflix.
- Bonnie Campbell
Yesterday
How pension funds turned UK student accommodation into a cash cow
Unlike the shared houses of old, student accommodation is fast becoming the domain of luxury. Underpinning this sea change is a wave of institutional investment.
- Melissa Lawford
Cromwell sells European platform for $457m; eyes on ESR
In particular, banks would be gauging industrial property player ESR’s interest in chipping away at its 30 per cent stake in Cromwell Property Group.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Cobbler counts the cost of fewer feet as CBD economies lose $4.3b
Cities are getting 370,000 fewer office worker visits every day compared to pre-pandemic, which has led to CBD-based businesses struggling to make ends meet.
- Campbell Kwan
Home buyers pay up to 53pc more for a ‘green’ home
Properties with eco-friendly attributes such as solar and double glazing are selling faster for more, according to Domain.
- Nila Sweeney
This Month
- Exclusive
- Property market
Housing supply falls below demand in all states but WA
The Urban Development Institute’s new Housing Index shows supply is falling further behind demand, especially in NSW and Victoria. Only WA is performing well.
- Larry Schlesinger
Lendlease chairman to step down | Billabong founder’s $50m tax hit | Eight injured in Singapore Airlines flight
Read everything that’s happened in the news so far today.
- Exclusive
- Luxury property
Locals ‘you would know’ spend $23m on off-the-plan Toorak penthouses
The sale of the two sub-penthouses in Orchard Piper’s Toorak Village project achieved record rates of $38,000 per square metre.
- Larry Schlesinger
- Opinion
- Chanticleer
Lendlease change can’t stop with chairman’s retirement
The retirement of Lendlease chairman Michael Ullmer will be welcomed by the company’s small army of critics. But it’s what happens next that counts.
- James Thomson
Lendlease chairman to step down at AGM
Michael Ullmer has confirmed he will step down at the company’s shareholder meeting in November, but disgruntled investors want more action than that.
- Nick Lenaghan and Joshua Peach
CBA to accept $10k deposits to speed up off-the-plan construction
Commonwealth Bank will allow $10,000 deposits to be viewed as 10 per cent deposits on certain projects to make it easier for developers to get construction financing.
- Campbell Kwan
Australian Unity Office Fund in exclusive DD for St Kilda property
Street Talk understands the $220 million market cap fund is in exclusive due diligence with a buyer for its St Kilda Road property.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Press ‘go’ on the $20b boom in renewables development
Renewables construction will hit $20 billion annually by 2026/27 as the country races towards ambitious carbon targets and coal-fired power stations close.
- Nick Lenaghan
- Exclusive
- Hotels
Collins Street tower to appeal to return-to-office ‘boltholers’
Developer Sterling Global believes corporate high-flyers commuting into town from regional locations on a more regular basis will want a CBD bolthole.
- Larry Schlesinger
Meet the Montreal mayor who declared war on SUVs
The ongoing expansion of vehicle size is causing consternation in North America. More than four out of every five new cars sold there is either an SUV or a pickup truck.
- David Zipper
The top suburbs where home values have bounced out of decline
House prices in some top-end suburbs have bounced back from falls in the previous quarter as demand rises amid lack of stock.
- Nila Sweeney
Old guard of US beachfront revolts over first new luxury condos in decades
What’s at stake is a contest to unlock prime waterfront land for extravagant buildings for wealthy newcomers from the US Northeast, Midwest and California.
- Anna J Kaiser
Accor readies Melbourne Airport hotel and co-working hub for take-off
The hotel offering of 464 rooms across two Accor brands – a Novotel and ibis Styles – will include a two-level co-working hub when it opens on July 1.
- Larry Schlesinger
