NewsBite

Campbell Kwan

Yesterday

A home in Hunters Hill, Sydney, where development applications take an average of 198 days to be approved.

Wealthiest councils are among the slowest to approve DAs

Among the slowest councils, only one represented constituents that on average earned below-average incomes.

Sharona Ghaemmaghami at Herrick Street, Blacktown, where she bought a house.

How Sharona avoided years of saving to afford a five-bedroom home

Sharona Ghaemmaghami and her boyfriend paid lenders mortgage insurance to enter the housing market earlier than if they saved for a 20 per cent deposit.

This Month

Steve Bulloch, PGIM Real Estate.

PGIM hops on private credit boom with $750m fund

The global fund manager’s first local private credit fund has raised $300 million and received an additional $300 million in commitments so far.

Major builders are holding back from forecasting increased sales volumes due to uncertainty around interest rates. But the market in Brisbane is doing better than others.

Interest rate uncertainty dogs builders as buyers stay away

Less than half of companies polled by Macquarie said they expected sales to increase, even as inquiries for new houses begin to increase from last year’s lows.

Redcape has sold a trifecta of hotels, including Eastwood Hotel (pictured) for a combined $136 million. 

Redcape sells trio of pubs for $136m to meet priority redemptions

Redcape managing director Chris Unger said the group will pay out priority redemptions and provide $40 million of liquidity over the next year.

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Quintessential undertook a six-month due diligence process before going ahead with buying 240 Queen Street.

Office deal flow still a trickle despite 60pc increase

Office deal activity will not ramp up quickly as due diligence processes are taking as much as four times longer due to concerns about the sector.

Tamawood profit jumps, but can’t predict FY25 earnings

Chairman Robert Lynch said factors such as the Queensland election, weather and land shortages meant it was “impossible” to predict the builder’s performance.

Senator Fatima Payman arrives for question time on Monday.

Albanese expects Payman to quit Labor in coming days

Anthony Albanese said the plan had been in place for “for more than a month”; New home builds well below National Cabinet’s goal; China, Taiwan tensions escalate after boat seized. How the day unfolded.

  • Updated
The feud between Crown Group’s founders killed development plans for four residential towers at Brisbane’s West End.

Crown Group founder fails to raise funds to buy back 473-unit site

Crown Group co-founder Paul Sathio had won the tender to buy the site but was unable to accrue enough funds by the settlement date.

June

Lexi Dodd at the display suite version of her new Wentworth Point apartment, where she will move into at the end of the year.

Why this family is swapping a six-bedroom house for apartments

Lexi Dodd and her family are moving into apartments ahead of a new chapter, where being closer to cafés and restaurants is more important than space for kids.

Endeavour Energy workers have been delaying the $1.7 billion M7-M12 integration since March, not showing up to at least two appointments.

Union bans delay $1.7b transport link to Western Sydney Airport

Industrial action has delayed the critical interchange for the city’s second airport by months and is sending subcontractors close to the wall.

Dexus-Canadian fund cashes out $310m Martin Place stake at a discount

Office valuations have been progressively written down over the past two years as the sector absorbs the cost of high rates. 

Luna Park is up for sale as it’s not considered a core asset by Brookfield.

Sydney landmark Luna Park hits the market

Canadian property giant Brookfield is stepping off the ride at the famed harbourside attraction and is ready to hand the fun times over to a new owner.

  • Updated
Mirvac’s 55 Pitt St will stand 56 storeys tall, and have eight floors of retail at the bottom.

Minters to sit atop Mirvac’s 55-storey office tower

The top-tier law firm will take up the top floors of 55 Pitt Street, as Sydney’s legal eagles vie for the best perches across the CBD.

Mick Owens, the general manager of Greenfields Developments, estimates construction of about 1600 homes has been delayed due to industrial action by Endeavour Energy workers.

Pay dispute delays construction of 1600 homes

Industrial action by workers at poles and wires company Endeavour Energy is stalling the delivery of 1600 homes and $1.2 billion worth of warehouses in Sydney.

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Phil George with Jacqui Pires of King Street Studios

WeWork’s exit opens opportunity for new co-working hub

The owner of 66 King Street in Sydney’s CBD has taken over the space from WeWork and decided to run his own co-working office there under a belief that he can do it better.

Anthony Albanese and Peter Dutton with Chinese Premier Li Qiang at Parliament House on Monday.

Dutton a ‘pussycat’ in front of China: PM

Anthony Albanese has hit back at Peter Dutton’s criticism of his handling of China blocking Cheng Lei at press events, citing that the opposition did not raise any issues at the event. How the day unfolded.

  • Updated
Hong Kong private equity player PAG has acquired 367 Collins St for $340 million.

Mirvac set to sell two office towers at discounts of more than 20pc

Pricing for the latest deals on the office towers in Sydney and Melbourne – worth close to half-a-billion dollars in total - shows just how far values have fallen.

NSW Treasurer Daniel Mookhey in the budget lock-up on Tuesday.

NSW’s ambitious plan to build 30,000 new homes

The NSW government will intervene in the construction sector by releasing surplus land that will be used for home building.

Winners and losers

Winners and losers in the NSW budget

Prospective homeowners, essential workers and developers are the biggest winners, while middle-income households facing cost of living pressures lost out

Original URL: https://www.afr.com/by/campbell-kwan-p5367p