Strata developers in NSW spared increase in bond payments until November 2024
Amendments to the Strata Schemes Management Regulation 2016 – bond increase to 3% delayed until 2 November 2024 Under section 207 of the Strata Schemes Management Act 2015 (NSW) (Act), prior to applying for an Occupation Certificate, the developer of a strata scheme is required to provide security (called a ‘building bond’) equal to 2% […]
ReadmoreDraft statewide housing targets for Victoria – More than 2 million new homes by 2051
Last week, the Victorian Government released their draft statewide housing targets. In an ambitious target, 2,001,000 additional dwellings are proposed to be constructed between now and 2051 across Metropolitan Melbourne – being almost double the number of existing dwellings currently constructed in Metropolitan Melbourne. The Government wants local councils to ‘unlock space for more homes […]
ReadmoreThe new DBP Act amendments – insurance requirements for Builders remain exempt until 1 July 2025
Amendments to the DBP Act – further 12 month reprieve for DBP Act insurance requirements for Builders Under the Design and Building Practitioners Act 2020 (NSW) (DBP Act), it is a condition of registration for design and building practitioners that they are ‘adequately insured’ against liabilities arising under the DBP Act including as a result […]
ReadmoreBusy day in Parliament – Victorian Government responds to stamp duty and apartment design standards
On Thursday 21 March 2024, the Victorian Government released its responses to the inquiries in relation to land transfer duty fees and apartment design standards. Key takeaways are provided below. Commercial and Industrial Property Tax The government in its response confirmed its commitment to abolish and replace stamp duty with the Commercial and Industrial Property […]
ReadmoreThe Montague Precinct and Fishermans Bend – Have your say on Victoria’s largest urban renewal project
The Department of Transport and Planning (DTP) has released the draft Montague Precinct Infrastructure Plan (PIP) and draft Development Contributions Plan (DCP) for Fishermans Bend. These documents are on public exhibition until 23 February 2024 and will have a substantial impact on landholdings across the Fishermans Bend urban renewal area. The Fishermans Bend urban renewal […]
ReadmoreBuild-to-Rent short series | Subdivisional solutions
The Gadens Build-to-Rent short series will focus on emerging property and development issues that affect Build-to-rent (BTR) projects – covering planning, subdivision structuring, fund through models and management issues. Click through the following links to read each instalment. Build-to-Rent short series | Has the planning scheme caught up? Subdivisional solutions BTR Projects often seek to […]
ReadmoreBuild-to-Rent short series | Has the planning scheme caught up?
The Gadens Build-to-Rent short series will focus on emerging property and development issues that affect Build-to-rent (BTR) projects – covering planning, subdivision structuring, fund-through models and management issues. Click through the following links to read each instalment. Build-to-Rent short series | Subdivisional solutions Has the planning scheme caught up? As BTR projects are increasing in popularity […]
ReadmoreVCAT returns to in-person planning and valuation hearings
After more than 2 years of online hearings, this week VCAT reintroduced in-person planning and valuation hearings where appropriate. This Gadens planning update provides an overview of what hearings will now be held in person, what we can except in the hearing rooms and the COVID-19 safety measures that have been implemented. What hearings and […]
ReadmoreMajor reform of NSW construction legislation on the horizon
The New South Wales Government has recently introduced three new bills and one accompanying regulation which aims to improve the standards and accountability of participants in the construction industry within the state. The bills, which are currently in the consultation phase until 25 November of this year, are the: Building Bill 2022; Building Compliance and […]
ReadmoreUnions seeking to expand into the real estate industry
There has been a recent push in NSW by the United Services Union (USU) and the Shop, Distributive and Allied Employees Association (SDA) to expand into the real estate industry – an industry that has traditionally seen low levels of union activities. Spokespersons from both unions have raised concerns about harassment and unsafe practices within […]
ReadmoreThe 2022 NCC – Mandating energy efficient homes
The National Construction Code (NCC) 2022 will be available from 1 October 2022, with a raft of new performance requirements designed to improve liveability and reduce energy consumption and carbon emissions. This update focuses on the new energy efficiency requirements in the NCC 2022. The proposed changes to NCC 2022 to address energy wastage are […]
ReadmoreChanges to Victorian planning law to support environmentally sustainable developments
The Minister for Planning has approved Amendment VC216 (Amendment), with the changes to the Victorian Planning Provisions taking effect from 10 June 2022. What does the Amendment do? The Amendment makes changes to the Victoria Planning Provisions and all local Planning Schemes to support environmentally sustainable development (ESD) outcomes. For the first time, all local […]
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