With the housing market cooling off in the two major Australian capitals, we can probably expect some finger pointing from both sides of politics, likely at each other, at APRA, at the banks and anywhere else they feel some political capital can be gained! The incumbent Government appears more focussed on issues other than the property market, and want a non-interventionist approach, while the opposition seem intent on shaking things up.
While the fallout for the banks in terms of public relations and enhanced scrutiny thanks to underwhelming performances on the stand from senior figures and a myriad of allegations and confirmed misconduct will be long lasting, if anything from a structural and penal point of view, they seem relatively unscathed compared to the untold damage likely to be done to a swathe of small business should some of the recommendations of the report be upheld.
CFMG Capital have now completed the acquisition of the 6.4ha site that will become Lomandra Park, Bridgeman Downs. The site was contractually secured in 2017 and after a development application process during 2018, the $37million development was approved by Brisbane City Council prior to Christmas, allowing CFMG Capital to commence the settlement process.
A surge in property speculation by leveraged self-managed super funds amid sliding house prices in the nation’s biggest cities has sparked concerns among the powerful Council of Financial Regulators that many may be in over their heads.
Demand for house and land packages in the Gold Coast corridor is on the rise, as buyers look for traditional detached homes on family-sized lots and without the inner city price tag.