Construction & Property

Construction & Property Law News and Articles

May 192017
 

Investors looking to diversify into the Victorian property market should note that existing  concessions for stamp duty relief for off the plan purchases will be abolished from 1 July 2017.

The Victorian Government announced that stamp duty (land transfer duty) savings for investors buying property off the plan will not apply for investors for contracts entered into from 1 July 2017.

This means that only buyers who want to live in the property or are first-home buyers will be able to take advantage of the stamp duty concession in Victoria for purchases under $600,000. Investors will no longer be able to pay pro rata amounts based on a dutiable portion of the land. This reform is consistent with most other Australian states, like NSW, that don’t have stamp duty concessions for investors.

Investors can still take advantage of the existing concessions by filling out an Expression of Interest (EOI) form and paying a deposit of approximately $1,000 – $2,000, to put the property on hold. As long as the contract is entered into by the 30 June 2017, you will qualify for a concession.

Hurry! You only have 6 weeks to invest before the concessions are cut!

NSW property buyers can access the first new home buyers exemption if the buyer is going to and does occupy the home for 6 months within 12 months.

Contact Peter McNamara today for your stamp duty and property advice.

May 112017
 

Apartment blocks are being unlocked for redevelopment – this presents opportunities, and challenges, for owners and developers alike! There is a shortage of housing, the Australian dollar is cheap and foreign buyers seem keen to buy our real estate. The NSW government has announced changes to strata laws to enable strata owners to redevelop their […]

Nov 182016
 

In our previous article “Holiday Lettings Unlawful in Some Residential Areas”(link below), we discussed the case of Dobrohotoff v Bennic [2013] where a neighbour was frustrated by a nearby home being leased for wild parties including hens’ and bucks’ nights. Since then there have been developments in this interesting area of law. First, there is […]

Aug 182016
 

Noisy neighbours are common, especially when you live in an apartment building. However, you can, with the support of your body corporate, do something if the noise is caused by a change in flooring. This was demonstrated in the recent case of 18 Kingsford Street. The Facts 18 Kingsford Street is 5 lots in a residential building. […]

Jul 262016
 

The Government will test for free if you register before 1 August 2016.  If you do not register for testing by 1 August 2016 you will not have access to Government compensation  if your property is affected by Mr Fluffy. If your house was constructed before 1980, you should register for free ceiling insulation testing. You must […]

Nov 052015
 

The Residential (Land Lease) Communities Act 2013 No 97 has just been amended to give caravan park residents more rights.     New rules of conduct for caravan park operators require the operators to: act honestly, fairly and professionally, exercise reasonable skill, care and diligence, not engage in high pressure tactics, harassment or harsh or unconscionable conduct, and not disclose confidential information.  […]