Property Council

People moves and news brought to you by Redpath Partners:

Frasers Property Australia has appointed Kelly Miller as General Manager Development for its New South Wales portfolio. Savills Australia & New Zealand has appointed Christopher Noble as Director to its Victoria business. Centennial has appointed Lucas Forbes to lead its retail investment team as Head of Retail, Capital Transactions and Funds Management. MODEL has appointed Ashley Reed as Chief Financial Officer.

Full list of moves and news: https://www.propertycouncil.com.au/property-australia/people-moves-and-news-162?utm_source=FB&utm_medium=social&utm_campaign=Property_Australia&utm_content=cta

Treasurer Jim Chalmers: “The reason this matters, is because the Property Council has said, that if this requirement was eased it could mean an extra 35,000 homes built by institutional investors over the course of the next five years.”

On Wednesday, ASIC announced it will review stamp duty disclosure requirements under RG 97.

The current settings discourage superannuation funds from investing in Australian real estate.

Our modelling shows that a simple change to remove stamp duty as a transaction cost from RG 97 could deliver 35,000 new homes and encourage close to $10 billion into Australian real estate.

As the Treasurer said, this “has the potential to be a really important change”.

Read our media release https://www.propertycouncil.com.au/media-releases/property-council-welcomes-asic-review-backs-smart-policy-review-to-boost-housing-investment