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This is what's moving in property this week.
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Historic Manoah House, at 9 Manoah Drive, Upper Sturt, South Australia, was the most viewed listing nationally on Realestate.com.au last week.
NEWS
1
Build a home? That’s $576k before you start
Australians are paying up to 49 per cent of the total value of home and land packages on taxes, regulatory costs and infrastructure charges, which have accelerated by as much as 106 per cent since 2019.
2
Star to forfeit $4.2bn in fees as part of Queen’s Wharf sale
Star Entertainment’s Hong Kong partners are in Brisbane to seal a deal for control of Queen’s Wharf and it’s emerged that the casino operator will forfeit billions of dollars in management fees.
3
Property developer’s home raided over $480m fund ‘mismanagement’
An ASIC investigation into Melbourne property developer Paul Chiodo and a ‘significant shortfall’ in investor funds has ramped up, with new documents revealed.
4
Weak dollar, labour costs squeeze construction sector
Despite some price relief, Australia’s construction industry faces mounting insolvencies as productivity declines and wage pressures rise.
5
Riding the Silver tsunami and how to profit from the ageing nation
Getting older is not all bad news. Those in the right businesses in the right places will do well.
MARKET MOVERS
Financier betting $250m he can catch a falling Star
Star’s would-be saviour Soo Kim learned to speak English while watching Sesame Street as the son of Korean migrants in New York City. Here’s how he plans to rescue the Star casino group.
Property scion’s parting shot at Victoria as tower plan dumped
The Tarascio family has sold off a prime Melbourne site where it had planned a luxury tower for more than a decade, as financial conditions in Victoria sour.
Frasers goes to market with $300m Brunswick & Co
The build-to-rent sector is maturing rapidly with developers now testing the market to sell the specialist apartments towers.
Japanese back rebuild of former leagues club
One of the most controversial property sites in Sydney is now in new hands – and after years of false starts it could help address Sydney’s housing shortage.
✣ PRESTIGE PROPERTY
Beer king Bartels exits tower of power
Former Foster’s Group chief Peter Bartels has listed his sub-penthouse in the Marquise Residences, one of the exclusive so-called towers of power in Melbourne.
Elanor in $230m hotel sell-off to survive
Fund manager Elanor has put some of the country’s best hotels on the block as it battles to survive.