Source: Colin Biggers & Paisley Lawyers By Ian Wright, Nadia Czachor, Krystal Cunningham-Foran and Matt Richards
An application for the extinguishment of an easement providing for the access and enjoyment of light and air is dismissed because of the practical benefits to the benefitted property and any injury suffered by its extinguishment could not be adequately compensated. In brief The case of Litfin v Wenck [2024] QSC 170 concerned an application to the Supreme Court of Queensla...

Source: REIQ Queensland’s rapidly rising residential property prices stabilised over the September 2024 quarter (July –September 2024), as a wave of Spring sales began settling. The latest median sales results released by the Real Estate Institute of Queensland (REIQ) today,reveals a modest 0.26% increase in Queensland’s median house prices for the quarter, lifting to$772,000. While annual house price growth remains impressive across the state, some regions saw slight qua...

Source: www.bartier.com.au With a legislative history spanning just under two years, the decision of the NSW Court of Appeal in Olde English Tiles Pty Ltd v Transport for New South Wales has divided both the public and legal practitioners. So it comes as no surprise that the Applicant applied for special leave to the High Court of Australia. Interested parties have been eagerly waiting to see the High Court’s decision. The power of five words - “special is refused with...

Source: CoreLogic Valuation volumes throughout 2024 have been stable, supported by steady demand in the Australian housing market. However, as the market starts to turn with softening conditions and lower auction clearance rates, Australia’s housing market offers both risks and opportunities for valuers approaching 2025. CoreLogic’s latest housing data reveals key trends likely to influence residential valuations, particularly as broader economic factors, such as inter...

Source: CoreLogic New investor loans are up a strong 18.8% nationally, far outpacing the volume of investment properties coming to market. There are regional differences with the number of investor listings coming to market elevated in Tasmania, Victoria and NSW, but are below average in SA, QLD and WA. The number of new loans for investment property purchases is strongest in high capital growth states, showing a pivot in investment to SA, QLD and WA. There are two main narratives abou...

Source: PropTrack & REA Group Over the month there was a surge in new listings hitting the market resulting in new listings in October 2024 being +14% year-on-year. It was an historic-high number of October new listings in Melbourne and Canberra, the highest October new listings in Perth in a decade, the highest October new listings in nine years for Sydney, highest October new listings in Brisbane and Hobart in six years and the highest October new listings in Adelaide in five years. D...

Source: CoreLogic CoreLogic’s national Home Value Index (HVI) recorded a 0.3% rise in October, the 21st month of growth since the cycle commenced in February last year. As the market cools, annual growth in national home values has continued to ease, reducing to 6.0% over the 12 months ending October, down from a recent peak annual growth rate of 9.7% in February. CoreLogic’s research director Tim Lawless notes that the stronger performance across the more affordable end o...

Source: The Chronicle Investors are exiting the residential real estate sector at a faster rate than a year ago, new research by Property Investment Professionals of Australia has found. PIPA's 10th annual investor sentiment survey found 14.1 per cent had sold at least one property in the past year, up from 12.1 per cent previously, and the majority went to existing owner-occupiers and first home buyers. PIPA chair Nicola McDougall said investors were still buying rental properties, &q...

Source: CoreLogic Monthly rental growth hits lowest rate in four years as capital city demand declines The Australian rental market has experienced its slowest growth in four years, with CoreLogic’s monthly Chart Pack showing a modest 0.1% increase in national rents during July. CoreLogic Australia economist Kaitlyn Ezzy said the easing in the monthly growth trends marks a stark contrast to the 39.7% surge in rents recorded over the past five years. &ld...

Source: CoreLogic While headline growth rate remains positive, three capitals recorded a decline in values over the past three months with Melbourne falling -0.9%. However, while the headline growth rate remains positive, it is clear momentum is leaving the cycle and conditions are becoming more diverse. The rolling quarterly pace of growth has slowed markedly in Sydney to 1.1%, a fraction of the 5.0% quarterly gain recorded at the same time last year.  The mid-sized capitals are con...