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Residential property

This Month

Prominent investor Alex Waislitz and property developer Tim Gurner. Mr Waislitz has accused Mr Gurner’s Gurner Group of delays and defects at its Saint Moritz development.

Alex Waislitz and Tim Gurner feud over luxury St Kilda tower

The wealthy businessmen are at loggerheads over problems at the Saint Moritz development. Mr Waislitz says Mr Gurner is trying to silence residents.

  • Primrose Riordan and Sarah Thompson
This Noosa home sold for $16.9 million.

Virgin CEO Jayne Hrdlicka lands on $17m Noosa holiday home

The business heavyweight, who also chairs Tennis Australia, has paid $16.9 million for a slice of Queensland’s famed Little Cove.

  • Updated
  • Bonnie Campbell

They built a $180m office but struggling to get tenants

The vacancies in towers built on the back of private credit come amid difficult times for developers, more of which are falling into administration.

  • Primrose Riordan and Campbell Kwan
Riverside at Argentat, in the Dordogne region.

Where to buy a beautiful house for less than $200,000

With the cost of an average Australian home now around $815,000, anyone spending a quarter of that will marvel at the choice of tempting options in Europe.

  • Updated
  • Liz Rowlinson
MaxCap-backed Byron Plaza could be put up for sale after the collapse of its developer, Luxcon Group.

MaxCap investor groups face off over stalled Byron Bay project

The private credit firm is contemplating selling the development site in a move it has warned could mean one group of investors will end up losing its money.

  • Primrose Riordan
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Ray White’s Jessica Cao says the lower price of apartments on Sydney’s North Shore could attract buyers this year.

Wealthy inner-city suburbs wear the most pain in weak property market

Home values fell in December for the first time in nearly two years. But the dip is much bigger in more expensive areas, while affordable regions soar.

  • Campbell Kwan
An artist render of the Hyde Park apartment project that MaxCap is hoping to sell.

MaxCap warns of real estate fund return slump and asset fire sales

The private credit firm has told investors that an “extended period of high market volatility” had hurt the viability of some of its real estate investments.

  • Updated
  • Primrose Riordan
Richard Weinberg and Adam Shell from the Terrace Tower Group.

The secretive Saunders family is going all in on lending to the rich

The late John Saunders founded Westfield with Frank Lowy. The family investment vehicle sees plenty of opportunities in helping the cash-strapped wealthy.

  • Primrose Riordan

December 2024

Simonelle Mody is a 25-year old finance professional living in a UKO co-living space in Paddington.

Can an ‘upmarket boarding house’ solve Sydney’s housing problem?

Hotel Capital Partners is acquiring the former Quest Potts Point hotel and turning it into short-term rental housing to capitalise on inner-city housing shortages.

  • Campbell Kwan
The Wellington Health precinct being developed by APH and financed by MaxCap.

Investor letters reveal private credit exposure to collapsed developer

APH Holding fell into administration last week, owing several lenders significant sums. Correspondence shows how short one lender, MaxCap, is on a project.

  • Primrose Riordan
APH Holding’s flagship project is a health precinct in Box Hill, financed through a loan provided by non-bank lender MaxCap.

Major developer APH collapses, sending ripples through private credit

The Melbourne company had already put many of its projects on the market. Its biggest lender, MaxCap, says it expects to be repaid in full.

  • Primrose Riordan
Buyers of apartments on sites such as this 22-storey, 111 Castlereagh by Cbus project in Sydney have an easier path to make claims in case of defects.

How it just became even better to buy an apartment in NSW

A High Court ruling has made it easier for off-the-plan buyers to sue developers and builders for defects – but only if they live in the largest state.

  • Michael Bleby
CoreLogic Internal chief executive Lisa Claes was allegedly aware of a scheme where her company scraped data from BCI platforms.

CoreLogic sued for data scheme allegedly engaging Bill Papas’ Forum

BCI has sued its larger rival CoreLogic for scraping data and having Forum and two other parties access “confidential” information. CoreLogic says it did nothing wrong.

  • Campbell Kwan
The two bedroom, one bathroom, one car park unit in a building of eight at 2/38 Boundary Street in northern NSW’s Tweed Heads sold by private treaty for $850,000.

‘Shoebox’ apartment sells for $850,000 in less than a day

With supply crunched, this 41-square-metre unit sold at a rate similar to those on nearby Millionaires’ Row.

  • Michael Bleby
Render of new residential towers that will sit on top of the old Sydney Fish Market site.

More than 1000 apartments to rise from old Sydney Fish Market site

A long-heralded plan to transform the site into housing is gaining momentum, as three major developers are shortlisted for the $1.5 billion project.

  • Campbell Kwan
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November 2024

REA Group has hired KPMG to conduct an urgent review of its payroll.

News Corp’s REA sues Domain for allegedly scraping listings data

Domain has rubbished the claims, arguing that REA’s lawsuit is a bid to exert market influence.

  • Campbell Kwan
Mr Lonsdale said the buffer was a “contingency” against any loss of income.

Home loan stress rises to $23b, doubling since 2016

John Lonsdale used the situation to push back on calls to reduce borrower stress-testing standards.

  • Updated
  • Lucas Baird and James Eyers
PEXA is the largest property settlement platform by some distance, with its competitors hoping it will be forced to open its platform

Legal threats and ACCC ‘assessment’ rock PEXA-Sympli stoush

The Commonwealth Bank-backed property settlement exchange warns it could sue the regulator if forced to share information that would end its dominance.

  • Kylar Loussikian

China’s enthusiasm for Australian housing cools

Home buyers from China are being squeezed between a slowing economy and high prices for Australian residential real estate.

  • Nick Lenaghan
Sam Fayad was the founder of property developer Dyldam. He has since been declared bankrupt.

Chinese real estate giant claims it is owed $1.4b in Dyldam collapse

Recriminations have already begun over Beijing Capital Land’s financing of the developer, which collapsed in 2020 leaving a trail of debt and unlivable homes.

  • Primrose Riordan

Original URL: https://www.afr.com/topic/residential-property-6fuo