Australian Conveyancer edition 18 - Seller Beware

AUSTRALIAN

Conveyancer.

THE PRACTITIONER’S COMPANION

SELLER BEWARE SPECIAL REPORT

How new laws will change the game POWERED BY J U LY 2 0 2 5

FROM THE EDITOR / LEWIS PANTHER

W

elcome to the July edition of Australian Conveyancer.

Our cover story for this month focuses on the fundamental change to the way homes are bought and sold in Queensland. Described as the biggest shake-up in property law for 50 years, new rules will mean that the “buyer beware” attitude is abandoned in favour of a seller disclosure regime.

Professor Sharon Christensen, who is one of the architects of the Property

Law Act 2023, gives her take on what it means as part of our special report that also includes the thoughts of prominent practitioners from the sunshine state.

We also take a deep dive into the Brisbane Olympics and what the 2032 games will mean for property prices and development over the next decade.

New property rules that are now in effect are covered in a six-page news feature. This edition also hears from AFL great Luke Darcy, who tackles leadership lessons in our Wisdom section.

CONTENTS / JULY EDITION

08

NEWS & INSIGHT Properties seized in AML raid Dealing with the housing crisis Perth property is HOT Savills’ UK housing report card Kamala Harris in Australia

The old ‘buyer beware’ attitude is abandoned in favour of a seller disclosure regime.

3 4 5 6 7

COVER STORY The biggest shake-up in Queensland property law 8 Why it matters 11 Property law overhaul an ‘incredible step forward’ 12 PROFILE Susan Aagesen

14

AARNEC Calls for government takeover 16

18

The effects of the 2032 Olympics on the city of Brisbane.

24

The property market is set for a boost due to tax, legal changes.

OLYMPICS ’32 And the winner is Brisbane Games Gold for Gold Coast Sydney’s legacy

18 20 22

SPECIAL REPORT New rules: The property market’s tax, legal changes

24

THE WISDOM Luke Darcy

30

NUMBERS IN THE NEWS

32

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NEWS & INSIGHT

Properties worth $10m seized in AML raid The buildings are part of $21 million worth of assets confiscated by a multi-agency task-force.

By Lewis Panther

S

eventeen properties have been seized as part of the latest high-profile operation against money launderers.

The buildings are part of $21 million worth of assets confiscated by the Australian Federal Police (AFP) Criminal Assets Confiscation Taskforce.

Four of those charged have had their bank accounts frozen, and a fleet of high-priced vehicles has been seized as part of the 18-month multi-agency operation.

More than 70 members from the Queensland Joint Organised Crime Taskforce (QJOCT) – made up of the AFP, Queensland Police Service, Australian Border Force, the Australian Criminal Intelligence Commission, Australian Transaction Reports and Analysis Centre (AUSTRAC) and Australian Taxation Office – executed 14 search warrants at homes and businesses across Brisbane and the Gold Coast.

AUSTRAC and the ATO also provided analytical expertise and support during the investigation, which was centred on south-east Queensland, and monitored cash dead-drops in multiple cities around Australia.

A 32-year-old Brisbane man from Heathwood, who was allegedly a major client of the money laundering operation and washed $9.5 million in 15 months, was charged with money laundering and failing to provide the password to a mobile phone.

Investigators following the money trail identified that the man was a customer of a sophisticated operation allegedly being run through the armoured transport unit of a security company that transferred $190 million in cash into cryptocurrency.

Investigations into the source of the $190 million converted into cryptocurrency by the security company

remain ongoing. A Gold Coast man, 48, and woman, 35, who were the director and general manager, respectively, of the security business, were each charged with a money laundering offence.

Another Brisbane man, 58, from West End, who allegedly funnelled laundered money through a business account to a separate business account controlled by the Heathwood man, was also charged with two money laundering offences.

It is alleged that the security company was also the front for the movement of millions of dollars of illicit cash from other states to south-east Queensland for laundering.

The cash, which was allegedly generated by organisedcrime ventures, was left at dead-drop locations around the country and collected by a network of couriers who sent it as domestic cargo on flights to Queensland. It was then collected by the security company.

Investigators seized crypto wallets containing about $170,000 in cryptocurrency, $30,000 in cash, encrypted devices, and business records and documents related to the alleged money laundering scheme.

The four who have been arrested are facing multiple charges, some of which carry a maximum life sentence.

AFP detective superintendent Adrian Telfer said the plot “was elaborate and calculated, and it demonstrates the lengths criminals will go to make money.”

This latest incident highlights the pressures facing all property professions as money laundering is all but endemic in Australia. The subject is the most-read on our website where it is one of the Hot Topics. n Go to australianconveyancer.com.au to find out more.

J U LY 2 0 2 5 • 3

N E WS & I NSI G H T

Housing red tape hobbling Labor’s homes target Housing Minister Clare O’Neil.

By FARID FARID

T

he delivery of 1.2 million homes starts with untangling the maze of bureaucratic approvals, the federal government says.

Housing Minister Clare O’Neil has signalled a second-term Labor administration will move quickly to boost construction.

“We’ve just been elected with a really clear mandate to improve our housing system in this country,” she said.

“We’ve got big reforms to implement, and not a day to waste in getting “Approvals are way on with them.” down under their The minister vowed to simplify local, state and federal planning watch, and their 1.2 regulations by leading a council of million new home planning ministers. target is a dead duck.”

“If we are going to address the housing needs of Australians, it is OPPOSITION going to require the three levels of government HOUSING to work together in new ways,” she said.

SPOKESMAN O’Neil will work with the building sector ANDREW BRAGG to implement innovative technologies to move past time-consuming and costly methods of construction.

Her comments came after an interview with the ABC in which she said “builders face a ridiculous thicket of red tape that is preventing them building the homes we need”.

The sentiment was shared by Master Builders Australia (MBA) chief executive Denita Wawn, who said it was critical “that we remove the red tape that is hampering our capacity to build homes”.

4 • AU ST R A L I A N CO N V E YA N C E R

She said the cost of building a home had skyrocketed by 40 per cent over the past five years, while construction times had ballooned by 80 per cent over the past decade.

Wawn said she was hopeful the ambitious goal of 1.2 million homes coming onto the market would be achieved, but warned that MBA projections showed there could be a slight drop-off.

She said that, along with the focus on reducing red tape, there was an urgent need for apprenticeships and fast-tracking migration for skilled people, and added: “For the first time, the federal government is leaning in and trying to ensure that there is a focused attention on housing.”

However, opposition housing spokesman Senator Andrew Bragg said the government’s plans were a “joke” and described Labor as “red tape champions”.

“Labor’s signature housing policy, the Housing Australia Future Fund, has built zero new homes in three years,” Bragg said.

“Approvals are way down under their watch, and their 1.2 million new home target is a dead duck.”

The Paris-based Organisation for Economic Cooperation and Development (OECD) recently warned Australia to boost its housing supply and address falling affordability.

The OECD said the easing of zoning restrictions would strengthen competition and productivity, as well as raise housing investment to “reverse the long-standing decline in housing affordability”. n

N EWS & I N S IG H T

Perth property is HOT

PERTH HOT SPOTS Increase April-May 2025

Maylands +2.9% Bedford +2.1% Wannanup +1.9% Pinjarra +1.8% Southern River +1.7% Source: REIWA

By RICHARD CUNNINGHAM

“G

o West, Invest” has been a property mantra for some years.

But does it still apply? Perth real estate has seen double-digit growth since 2022, and some cautious observers have suggested a downturn might not be far away.

Others say the boom will continue. Perth’s median house price increased 0.6 per cent in May to $780,000, 18 per cent higher than at the same time in 2024.

“Population growth, while Units were up 1.9 per cent to $535,000, a whopping declining slightly, is still 21 per cent higher than last strong, which fuels demand year. Rents are strong too: for housing. The WA the median house rent is now $690 a week. economy remains strong, The Real Estate Institute and unemployment is low.” of Western Australia says conditions are right for SUZANNE BROWN continued growth.

“Population growth, while declining slightly, is still strong, which fuels demand for housing,” said REIWA president Suzanne Brown. “The West Australian economy remains strong, and unemployment is low.”

Property analysts say the state has been able to diversify its economy away from the

boom-and-bust nature of the mining industry.

“While we are still very much a resourcebased state, Western Australia is no longer as dependent on mining as it was,” Brown said.

“Our growing population has led to more roles in sectors like health care and education, which is likely to continue.”

Hospitality and tourism are also growth areas.

Among the Perth suburbs generating high demand is inner-city Maylands, on the Swan River 4.5 kilometres north-east of the CBD. “Maylands has just about everything you’d need,” said NTY Property Group director Brock Roberston.

“The riverside location, a rail line, easy access to both the city and the airport, plus plenty of shops, cafes, restaurants, bars, and a good mix of housing including character homes, units and townhouses.”

A Maylands house ranges around $1 million, while units start at around $300,000. Time on market is just one or two weeks.

The consensus seems to be that Perth property prices might slow down at some stage, in common with other capital cities. However, barring a major economic calamity, they won’t be going backward anytime soon. n J U LY 2 0 2 5 • 5

N E WS & I NSI G H T

Housing shortfall: Australia is not alone

By LEWIS PANTHER

P

rime Minister Anthony Albanese’s Labor government must be glad it is not in the same boat as Keir Starmer’s Labour government when it comes to housing.

A new house-building forecast shows shortfalls are not unique to Australia and are, in fact, much worse in the UK, according to a report by Savills The real estate consultancy has released research suggesting the UK government’s target of 1.5 million homes by 2028/29 will be well wide of the mark, with just 840,000 new homes forecast to be built in the next five years.

While there are many differences between the two countries’ housing dilemmas, there are clearly lessons to learn, especially when it comes to construction capability.

“Based on current policy and trends, housing completions are likely to remain low, between 160,000 and 170,000 per year over the next few years,” said Savills research analyst Dan Hill.

“While it is possible to exceed this, demand support would be needed.

“Even with this, delivery will be constrained by the speed at which the house-building sector can expand its supply chains and labour force.

“This means completions are still likely to fall short of the government’s target.

“At most, we think very significant demand support could push completions to 1.2 million new homes by March 2029.”

The Savills report goes on to note that planning reform had reduced barriers to increasing the supply of new homes, but further measures were required, focusing on increasing demand.

While the government has shied away from the question of reintroducing the Help to Buy scheme – which was successful in supporting more than a third of all new home sales since its inception in 2013 – house builders “At most, we think very are clamouring for that kind of support. significant demand Even with a Help to Buy support could push scheme that would support tens of completions to 1.2 thousands of completions per year, other supply-side factors persist. million new homes “Even with funding allocated to

by March 2029.” new homes, there are limits to the speed at which housing completions DAN HILL

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can expand, due to workforce and supply chain constraints,” the report says.

“Over the last 50 years, in years when house-building has been growing, the average rate of expansion has been 7.7 per cent per year.

“When supported by the Help to Buy scheme, the rate of expansion in the mid-2010s was 10.8 per cent in 2013 and around 15.7 per cent in both 2014 and 2016.

“If house-building capacity were to match this peak rate of 15.7 per cent per year for the next four years, we could see an additional 350,000 homes completed by 2028/29.

“This would mean total delivery of 1.2 million over the five-year period, still short of the 1.5 million homes target. But this would rely on large-scale demand support being put in place.” n

N EWS & I N S IG H T

Kamala Harris on the ‘bloody knuckle sport’

By RICHARD CUNNINGHAM

A

s we know in real estate, it’s all about location, location, location. And few locations are as significant as 1600 Pennsylvania Avenue, Washington DC. Kamala Harris didn’t quite make it to the White House, but the former US vice president still won an invitation to discuss property, among other topics, at the “When you look at young Australian Real Estate Conference (AREC). held on people, among the many the Gold Coast in late May. challenges they face, It was an unusual but greater than any previous inspired choice as guest of honour, given that Harris – generation, the dream of who now describes herself as home ownership is one of “unemployed” – guaranteed the greatest.” national and international coverage of the event.

KAMALA HARRIS She was interviewed for an hour on stage by real estate veteran John McGrath, and while not mentioning the current White House tenant by name, had plenty to say about his impact.

“I do worry that it is important that we remember history,” she said.

“It’s important that we remember the 1930s.

It’s important that we remember that history

has taught us that isolation does not equal insulation. It is important that we understand and remember history, which taught us the interdependence and interconnection between nations.

“History that has taught us the importance of relationships of trust, the importance of friendships, integrity, honesty.”

As for real estate, which she described as a “bloody knuckle sport”, Harris underscored the importance of assisting first-time buyers.

“Here and in the United States, we share this issue, which is a phenomenal issue especially for young families: affordable housing,” she said.

“Part of my platform was … that government really needs to work much more closely with the private sector, to be clear about what the incentives are, as well as the disincentives, to build more housing.

“When you look at [young people], among the many challenges they face, greater than any previous generation, the dream of home ownership is one of the greatest.”

Apart from her term as the 49th US vice president, Harris is a lawyer, a former US senator and California attorney general. n J U LY 2 0 2 5 • 7

SP EC IAL REPO RT

Seller BEWARE The biggest shakeup in Queensland property law in 50 years is upon us.

It comes with a fundamental change in the way homes are bought and sold – as the old “buyer beware” attitude is abandoned in favour of a seller disclosure regime.

Australian Conveyancer has been following developments as the August 1 deadline approaches.

In this edition, we hear from one of the architects of the reforms being rolled out under the Queensland Property Law Act 2023.

Professor Sharon Christensen, who led the four-year review that led to the changes, highlights the benefits and explains why they are necessary to bring the Sunshine State into line with the rest of Australia.

We also have the views of practitioners, including lawyer Kiani Mills, whose cross-border conveyancing experience means she is perfectly placed to explain why the landscape needs to be more transparent.

Sharon Christensen, head of QUT’s School Of Law. 8 • AU ST R A L I A N CO N V E YA N C E R

S E LLE R B E WAR E

Queensland’s new seller disclosure laws could boost trade for conveyancers, says legal expert.

By SAM McKEITH

A

looming overhaul of Queensland property law that includes sweeping new rules on seller disclosure could boost trade for the state’s conveyancers and property lawyers.

That’s according to Sharon Christensen, the head of QUT’s School of Law, engaged by the state government to review Queensland’s property laws ahead of the revamp.

Christensen says the new seller disclosure laws, set to take effect in August, will add less than a day to workloads of real estate agents in the state, but may still result in many of them passing on the task to conveyancers.

“I’ve heard varying reports about some real estate agents saying they’re still going to do the disclosure, others are saying, we’re just going to get the seller’s lawyer to do that for us,” Christensen tells Australian Conveyancer.

“Conveyancers would be well equipped to do this type of work. For experienced conveyancers, the prospect of doing this won’t be significantly different to NSW or Victoria.”

Under the new rules, which bring Queensland into line with the rest of the country, a property vendor must provide to a buyer a “seller disclosure statement” and prescribed certificates like a title search copy of the plan of survey prior to signing a sale contract.

A failure to comply may allow a buyer to terminate the contract prior to settlement.

Real estate agents who offload the seller disclosure work will likely be those scrambling to get up to speed with the new obligations, Christensen says.

“It depends on what approach as a conveyancer or a lawyer you were taking in terms of a seller transaction before,” she says, referring to the impost on real estate agents.

“Ideally, if a client came to you and said, I’m selling my property, you would have engaged in all of these enquiries and searches up front.” >> J U LY 2 0 2 5 • 9

SP EC IAL REPO RT SEL L ER B EWA RE

However, with the “average real estate agent”, it’s often the case that “they might have done a title search, but they wouldn’t have looked at a registered plan of the property.”

“It’ll be interesting to see where the practice lands in terms of who does it,” Christensen says.

She concedes that the reforms – the first major overhaul of state property laws in five decades – have met some industry resistance, but says they are urgently needed.

After such a long time on the books, seller disclosure has needed updating.

Christensen says the changes are taking place after examining other states to ensure the new rules are “the essential information that a buyer needs to make a decision about the value of the property.”

In crafting the changes, there has been a focus on several key principles.

Christensen highlights clarifying sellers’ disclosure obligations, introducing a transparent and effective form of disclosure, providing information of value to the purchasing decision, and balancing the information cost between buyer and seller.

While it sounds like a lot of change, the academic says the practical impact will be minimal.

“Except for a few things where you actually have to attach an official document like a title search and a plan or a community management statement, a property owner who’s paying attention to what’s happening with their property would know all the other information that’s relevant to be disclosed,” Christensen says.

“We tried to make sure the information is streamlined in terms of what we’re handing to buyers.”

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ABOVE: Sharon Christensen.

TOP: Queensland’s overhauled Property Laws.

On this point, the law academic notes that decisions have been made not to include building reports as a mandatory disclosure and to add a basic flood warning to the document.

“There was some keenness to say you’ve got to have a flood report, but all of these things are at local government level,” she says, highlighting the different capabilities of city and country councils.

Some local government areas, like the Brisbane City Council, have free searches for flood risk, but that’s not the case right across the state.

“You can actually go on and look at Brisbane City Council’s interactive flood maps and get a report, but when you go out to some of the regional councils, they don’t have that level of information, so it was a bit hard making a law for the whole of Queensland.”

Regardless of location, when assessing flood risk, Christensen advises buyers to consult the state government’s online flood map, and utilise local council tools.

Of the new flood warning, she says “it’s bringing that to the front of mind of buyers”.

For those wary of the impending changes, Christensen emphasises that they mostly represent a shift in when information is disclosed to buyers.

“From the perspective of creating the legislation and drafting the legislation, the government did do a lot of consultation to make sure they have the wording right to make sure there weren’t any unforeseen practical issues that arose,” she says.

“It’s bringing forward the information to the negotiation stage rather than allowing a buyer to sign up, search later, and then potentially pull out of the contract if they find something.” n

SPEC IA L RE PO RT SEL L ER B EWAR E

Why it matters . . .

Four legal experts sum up the effects of Queensland’s new property laws.

Matt Dunn

George Sourris

Renee Zackersen

Jodie Sherman

“If you’re a seller and you get the disclosure documents prepared and you find that there’s some really big problem or something terrible … then that’s something you need to know earlier on instead of putting yourself in a position where your deal is going to fall over. That just wastes everybody’s time and their money.”

“It’s still up in the air with how it’s going to practically work. It just seems like there are too many unknowns; it’s logistically appearing to be quite a challenge.”

“As far as fees are concerned, it means we’re going to have to charge more for a sale. The sale and purchase fees are going to be almost at the same level because the disclosures need to be prepared by the lawyers. Clients are going to have to pay more because their lawyer’s going to have to do this 18-page document.”

“Seller disclosure is a long time coming! It is great news for buyers, and I honestly think it will prevent a lot of contracts from terminating.

When you’re selling a property, you should have all your ducks in a row before you sell, and we have never done that before in Queensland.

We are the only state in the country that doesn’t do any kind of sellers’ disclosures for buyers.

Queensland Law Society president Matt Dunn

Empire Legal lawyer George Sourris

RaZor Legal principal director Renee Zackeresen

Queensland-based Dott & Crossitt lawyer Jodie Sherman

J U LY 2 0 2 5 • 1 1

SP EC IAL REPO RT SEL L ER B EWA RE

Queensland property law overhaul is an ‘incredible step’ forward, says leading conveyancer

S

weeping new property laws set to take effect in Queensland, the biggest reforms to the sector in decades, were long overdue to fix a “frightening” lack of seller disclosure obligations under existing state laws, high-profile conveyancer Kiani Mills told Australian Conveyancer.

Mills, founder of Melbourne-based residential conveyancing firm Imperiale and creator of the popular podcast Success x Happiness, said her firm’s expansion to Queensland was daunting given the state lagged other parts of the country on protections for property buyers.

“It was frightening and quite petrifying that there was no disclosure,” said Mills, a licensed conveyancer with extensive training in both property law and conveyancing.

BIGGEST OVERHAUL IN DECADES

A seller in the state must, from the start of August, provide a buyer with a disclosure statement and prescribed certificates in relation to a property before a contract of sale can be signed.

The reforms aim to bring Queensland laws up to contemporary standards by delivering more transparency and fairness for both buyers and sellers in property transactions.

The impact of non-compliance is high, with the overhaul meaning that if the new seller disclosure rules are not met a buyer, in some circumstances, can terminate a sale contract.

Mills said the big changes were needed to get the state up to speed with the rest of Australia.

“There was no transparency, there was no responsibility on a seller to disclose anything,” Mills said of the outgoing Queensland laws.

“The fact there is no disclosure means that 1 2 • AU ST R A L I A N CO N V E YA N C E R

Kiani Mills, founder of Melbourne-based conveyancing firm Imperiale.

that client, for a very basic example, doesn’t know what zone the property is that they’re buying in. They don’t know if there’s any restrictions on the title to be able to build a block of units or whatever it is that they want to build - they have to go and do that homework themselves.

“This is why I’m so surprised that buyers agents and buyers advocates aren’t as prominent in Queensland as in other states.”

CHANGES POSITIVE FOR HOUSE HUNTERS

Perhaps a loss for buyer’s agents, Mills said the changes would be a boost for would-be home buyers statewide, with Queensland finally shifting away from its strict “buyer beware” stance.

The reforms meant a “buyer is stepping into a contract where they have full transparency on what they’re buying and there are no surprises all the way up to settlement”, she said.

According to Mills, Queensland was catching up with “every other state where there’s at least basic “It’s going to mean disclosure” providing “a client a there’s more of a second choice as to whether or not they proceed.” responsibility on the “In Queensland there isn’t really solicitors before the any opportunity to do that unless property sells to get you have an outside representative because the solicitors and that disclosure right conveyancers aren’t involved until and correct.” the contract has been signed,” she added.

“Now Queensland is coming into line with the majority of the rest of the country, particularly its main competitors which is the east coast - Victoria and NSW – so it is making it more streamlined across the board.”

Mills urged conveyancers, especially those with operations confined to Queensland, to ready themselves for the property law changes - the biggest in a generation.

Along with new seller disclosure regime, the reforms bring in new provisions on delays of settlement due to adverse events like bad weather or public health, easements, and commercial leases. They also change buyer rights on destroyed or damaged properties.

EXTRA BURDEN ON CONVEYANCERS “It’s going to mean that internal processes need to change, it’s going to mean that staff are going to have to be adequately trained, with time, as this is coming up on August 1,” Mills said.

In Mills’ opinion, senior staff should take the reins in preparing for the new system and firms scrambling to get compliant may also need more boots on the ground.

“I don’t think it’s going to be a job for a junior to do,” Mills said.

“Understanding and knowing what actually needs to go into the contract based on each individual sellers requirements and that individual property’s make up is going to be really important.”

She added: “It’ll be extra work in man hours but it should be a streamlined process so long as you’re asking the right questions and ordering the right certificates to protect your client.”

Mills’ comments echo those of the Queensland Law Society which has urged buyers and sellers in the state to understand their responsibilities before the new legislation comes into force.

QLS, in the wake of the legislation passing parliament, called for greater public awareness of the changes as well as community education, support and resources about the overhaul.

‘STEP IN THE RIGHT DIRECTION’

For firms dragging their heels, Mills urged consideration of not complying.

“Remember the downside is that a buyer can – based on the new legislation – be able to terminate the contract at any stage prior to settlement if there is any incorrect info missing provided in the disclosure statement. That’s absolutely on the solicitor.”

The compliance burden was much lighter, she said, on firms such as Imperiale that already operated in jurisdictions with similar seller disclosure regimes in place.

“It’s the way we’ve always done it,” she explained, referring to states like Victoria and NSW. Ultimately, the conveyancer said it was her “true and honest belief in this it’s an incredible step in the right direction for Queensland.”

“It’s going to mean there’s more of a responsibility on the solicitors before the property sells to get that disclosure right and correct, she said, warning against the “fear of the unknown”.

“People will leave it right to the very last minute and unfortunately clients will suffer as a consequence. There is no doubt that there will be the firms that are late adopters - the firms that don’t take it as seriously as they need to.

“There will be extra manpower needed at the start but it’s like the introduction of electronic conveyancing which was one of those things which was slowly adopted by Queensland and now look at us – we’re flying.” n J U LY 2 0 2 5 • 1 3

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P ROFILE: S USA N A AG ESEN

A passion for property Castle Group’s Susan Aagesen reflects on the challenges and rewards of a career in conveyancing.

O

ne of Australia’s busiest conveyancers is Sydney’s Susan Aagesen, senior licensed conveyancer and paralegal with developer Castle Group.

Castle recently paid $120 million for a 41-hectare landholding at Austral in Sydney’s south-west, and intends to build 550 dwellings there.

It’s among seven Castle sites in the growth area, and with $1.6 billion in projects to be delivered by 2030. “I’m sure to be kept busy,” Aagesen remarks.

Aagesen began her 24-year career as a receptionist at a small law firm and soon discovered a passion for property.

“I have had many in-house paralegal roles in several different industries,” she tells Australian Conveyancer. “This is how I’ve been able to expand my knowledge and progress into new areas of property law.

“Studying at university for my conveyancing licence while working at a law firm gave me invaluable hands-on experience.”

The large-scale developments have called on all Aagesen’s skills and experience.

“Working on off-the-plan transactions, you can have an intense month of 300-plus settlements in a period of 21 days,” she says.

In dealing with clients, banks and agents, and doing searches and legal checks, Aagesen says time management is key.

“It is often assumed that conveyancing is just paperwork,” she says, “but there’s a lot of legal due diligence behind the scenes.

“Sometimes clients underestimate how long the process takes, so it’s our job to set realistic expectations from the start.”

Having been rated among Sydney’s top conveyancers, with clients particularly praising her communication skills, Aagesen says she has always enjoyed guiding “mums and dads” and first-home buyers.

“Hearing the relief and excitement from my clients when their property transaction is completed reinforces my passion for conveyancing and the meaningful impact I have on their lives,” she says.

For anyone considering a career in the field,

Susan Aagesen, senior licenced conveyancer and paralegal with developer Castle Group.

Aagesen says finding a mentor is important, as are short evening or weekend courses.

“Trying to attend a course during office hours is hard for many,” she says.

It’s also vital to stay on top of regulatory changes, like anti-money laundering laws, Aagesen adds.

“Cybersecurity and fraud prevention is another big challenge,” she adds, with scammers getting smarter and harder to detect.

“Educating clients to be careful at the start of their transaction is really important.”

Aagesen urges membership of the Australian Institute of Conveyancers and conveyancing Facebook groups. “Workshop with peers, and don’t be afraid to ask for help and guidance.

“With the right skills and dedication, it’s a profession that offers a dynamic and fulfilling career path.” n read the full interview with Susan online at australianconveyancer.com

“It is often assumed that conveyancing is just paperwork, but there’s a lot of legal due diligence behind the scenes.”

J U LY 2 0 2 5 • 1 5

SP EC IAL REPO RT A R N ECC

Law chiefs want federal government to take over from ARNECC

L

aw industry leaders have called for a federal government regulatory body to take over from ARNECC. Law Council of Australia president Juliana Warner oversaw a submission into competition in eConveyancing that highlighted the council’s frustrations over the implementation of interoperability.

It highlighted the choice and pricing benefits of allowing third party platforms to integrate with the PEXA platform.

The submission also notes how the technical innovation brought about by competition was necessary, citing issues around “user-unfriendly screens and system unreliability” that users currently must tolerate without a viable alternative.

“We reiterate our concerns that these reforms are now long overdue in a context where eConveyancing is mandatory,” the submission says.

“It is therefore critical that interoperability is prioritised and progressed without further delay.

“A particularly important aspect is that intellectual property claims, and security and logistical concerns, have been cited as reasons for delaying the implementation of full interoperability.

“In the Law Council’s view many of these claims deserve closer scrutiny.

“Finally, the Law Council submits that ARNECC should not be the regulating body for any future Enterprise Service Bus (ESB) in view of the fact that its members, as registrars, would also be users of the ESB. “The Law Council recommends that a federal regulatory body with a broader skill set than ARNECC allows for would be more appropriate to regulate eConveyancing going forward.”

The introduction of interoperability would allow a subscriber – such as a lawyer – connected to one Electronic Lodgment Network Operators (ELNO) to conduct a transaction with a subscriber connected to a different ELNO.

1 6 • AU ST R A L I A N CO N V E YA N C E R

Law Council of Australia president Juliana Warner.

This would allow subscribers to choose the ELNO that is best for them and ensure that they are not required to subscribe to multiple ELNOs. “In the Law Council’s view, this choice will encourage competition between service providers,” the submissions says.

This, in turn, would “achieve more efficient outcomes for subscribers and their clients; maintain pressure on prices; and stimulate innovation in this fast-moving space.”

The submission goes on to say: “Whilst often assumed to only enhance competitive pricing, the more important factor is technical innovation that makes it easier for lawyers, especially those without a substantial conveyancing practice, to perform conveyancing transactions at much lower risk due to workflow functionality.

“There are examples of both user-unfriendly screens and system unreliability, which users currently have to tolerate for lack of a viable alternative ELNO.

S

“Only interoperability as part of true competition will unlock solutions to these practical impediments to lower cost conveyancing.

“Regrettably, progress towards interoperability has been subjected to repeated delays.”

The original commitment was for the first interoperable transaction by the end of 2021 and broader implementation in 2022.

“We are now well beyond the implementation timetable that had initially been agreed upon,” the submission says.

“Each setback has a compounding effect on the prospects of true competition in the eConveyancing landscape.”

Editor’s note: The Australian Conveyancer is powered by triSearch but maintains editorial independence. triSearch is owned by ATI Global, which also has shares in Sympli.

enators began an eConveyancing investigation exploring “microcompetition opportunities” in the sector earlier this year.

Campaigners calling for reform in eConveyancing highlighted PEXA - as a sole provider - was at risk of being a single point of failure following a series of outages.

The Senate’s Economics References Committee has been asked to report back by September after a motion by Shadow Assistant Minister for Competition, Charities and Treasury Dean Smith (pictured).

He claimed competition concerns had been “largely ignored” despite repeated warnings to the ACCC, the National Competition Taskforce and Treasury officials.

“The Senate inquiry is a welcome opportunity to prosecute this issue with a view to ensuring consumers get the best competition outcome possible — and the Senate recognised that yesterday,” he said at the time.

ARNECC – the Australian Registrars’ National Electronic Conveyancing Council – was formed under an Intergovernmental Agreement (IGA) in 2011 to coordinate a seamless national approach among the states and territories to the regulate of an electronic eConveyancing.

Richard Bootle – the co-owner of lawlab, which has offices in Brisbane, Darwin, Sydney and Melbourne and has handled $27 billion of property transactions across Australia – has been a vocal critic of the regulator.

AIC VIC President Shakila Maclean has also called on ARNECC to ensure interoperability is implemented.

J U LY 2 0 2 5 • 1 7

A new 63,000-seater stadium to be developed in Victoria Park.

The athletes village will house more than 10,000 competitors for the games.

1 8 • AU ST R A L I A N CO N V E YA N C E R

THE Brisbane Summer Olympics, from July 23 to August 8 2032, are seven years away. A lot of time, but there’s much to do.

Venue construction or upgrades, transport links, accommodation, a massive investment in money and political capital. In this special report, Australian Conveyancer assesses the state of play, the costs, and benefits, for south-east Queensland.

Antonia Mercorella, chief executive of the Real Estate Institute of Queensland.

Murray Pegg, real estate agent at Aurora Property.

O LYM P I C S ’ 3 2

And The Winner Is…

Brisbane!

By GLENDA KORPORAAL

T

he Olympic Games plan, particularly the focus on the Victoria Park precinct, is sparking optimistic projections for property prices in nearby suburbs.

“New infrastructure and consumer confidence brought by the Olympics, as well as our growing reputation as a lifestyle destination as we step into the spotlight, should put Queensland’s property market on the winner’s podium,” says the Real Estate Institute of Queensland’s chief executive, Antonia Mercorella.

She says suburbs near Olympic venues that could benefit include Herston, Kelvin Grove and Spring Hill.

The Bowen Hills area could expect to benefit from the upgraded RNA Showgrounds precinct, including the main athletes’ village, which will be converted to permanent housing post-Games.

The Woolloongabba area is expected to benefit from the upgraded Gabba stadium, the Cross River Rail project, and proposals for a privately funded Brisbane Live Arena on the vacant GoPrint site.

“People will see the Olympics as a great marketing opportunity,” Mercorella says.

“We are already seeing real estate agents featuring [whether] a property is within future Olympic infrastructure hotspots in their sales campaigns.”

She believes investors will start flocking to some of the innercity areas affected, but she also sees opportunities for first-home buyers.

Brisbane real estate agent Murray Pegg of Aurora Property also believes the Olympics are a major driver of the Brisbane property market.

“We’re already seeing increased buyer and investor interest in areas set to benefit from the new infrastructure and transport upgrades,” he says.

“Suburbs in proximity to the Games will benefit the most, including Kelvin Grove, Paddington, Herston, Woolloongabba, and New Market.”

Pegg argues that all areas of inner-city Brisbane will benefit directly from Olympic venue upgrades and improved transport infrastructure, such as the Cross River Rail.

“These locations are highly desirable due to their proximity to the CBD and upcoming investment.

“We expect gentrification to accelerate, especially in those areas that have been underdeveloped or overlooked in the past.” n J U LY 2 0 2 5 • 1 9

A new National Aquatic Centre is being developed in Spring Hill.

The Redland Whitewater Centre is a proposed venue to be used for the Brisbane 2032 Olympic Games.

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O LYMPICS ’3 2

Games Gold For The

Gold Coast

By GLENDA KORPORAAL

G

old Coast Games projects include an upgraded hockey centre next to the existing Gold Coast Convention and Exhibition Centre and a proposed indoor arena.

The area will also see an athletes’ village at the Royal Pines Resorts development with a mix of housing types and a high-performance training facility.

Transport connections with Brisbane will be improved, including upgrades to the Coomera Connector, an alternate road connection.

“The Gold Coast is set to benefit significantly with the Games showcasing its stunning beaches, world class venues and natural beauty,” says Murray Pegg, of Aurora Property.

“We expect a strong boost in accommodation demand and long-term rental and buyer interest.”

While the final list of sports will not be decided until 2026, Deputy Mayor of the Gold Coast, Cr Mark Hammel, who chairs the Council’s Planning and Environment Council, says they plan to host volleyball, beach volleyball, weightlifting, judo, wrestling, triathlon and hockey.

Plans also include a new indoor arena at Cary Park in Southport.

“Instead of having an indoor arena in Brisbane, given the costs that were projected, they have decided to bring it to the Gold Coast, which will have a long-term legacy for our city and region,” Cr Hammel says.

He says the council has learned extensive lessons from previous events, such as the 2018 Commonwealth Games.

“We are looking at the opportunity to bring more international events to Gold Coast before and after, including having some of the supporting infrastructure facilities being used for national training camps.”

Given the similar climates, this could include Australian and international teams

Cr Mark Hammel, Deputy Mayor.

training ahead of the 2028 Los Angeles Games.

“We have a strong desire to see the Gold Coast as the high-performance sporting capital of Australia,” Cr Hammel says.

He says the council was looking forward to the light rail to the Gold Coast airport, the completion of the Coomera connector, a rapid bus system for the coast and east-west bus links.

“The new indoor arena at Southport will be a catalyst project to help drive investment into the CBD,” he adds.

“The hockey centre at Labrador is also going to be a massive thing for that area.”

He says the Coomera Indoor Sports Centre is a key legacy of the Commonwealth Games.

“It has become a critical community asset,” he says.

Real Estate Institute of Queensland chief executive Antonia Mercorella says the athletes’ village built for the 2018 Commonwealth Games at Southport has shown how such villages could be successfully used for post-event housing.

“Other examples include Vancouver 2010, as well as the Olympic village from the London 2012 Olympics, which were transformed into longterm housing,” she says. n J U LY 2 0 2 5 • 2 1

Brisbane Gets a

Fast Track

By GLENDA KORPORAAL

T

he 2032 Brisbane Games timeline is set to benefit from new laws designed to slash red tape that could delay construction.

The legislation will allow the Games Independent Infrastructure and Coordination Authority (GIICA) to override 15 major planning laws.

They include the Environmental Protection Act, the Planning Act, the Local Government Act, the Queensland Heritage Act, and the Nature Conservation Act. The laws would allow the state government, rather than local councils, to sign off on proposals for all Games venues. After four years of delays, the real estate industry has welcomed the proposal as a one-off but necessary move to ensure the delivery of venues that will also help nearby property prices.

“Exceptional projects require flexible approaches,” says Real Estate Institute of Queensland chief executive, Antonia Mercorella.

“While planning frameworks exist to protect the character of our suburbs, it is not every day that a cityshaping opportunity like the Olympics comes along.”

She says the decisions on venues and infrastructure were not taken lightly, but after extensive review, including

2 2 • AU ST R A L I A N CO N V E YA N C E R

“expert-led assessments and stakeholder consultation.”

“The Olympics is a transformative event that demands the timely delivery of venues and infrastructure,” she says.

“The plan is now set, and we need to get cracking.”

Brisbane real estate agent Murray Pegg of Aurora Property agrees, saying, “Brisbane needs to stop talking and start turning dirt.

“With the 2032 Games fast approaching, streamlining approvals is essential to deliver housing, infrastructure and venues that will benefit the city well beyond the Olympic Games.”

Gold Coast acting mayor and chair of the council’s Planning and Environment Committee, Cr Mark Hammel, doubts there would have been delays in approvals for Olympic venues in the Gold Coast area, regardless of the legislation.

“But when it’s a regional Olympics across many different local government areas, it is probably the right call for the state government to introduce the legislation,” Hammel says.

“They have to make sure that everything is delivered on time, and that the maximum benefits for Queensland can be achieved.” n

O LYMPICS ’3 2

Sydney’s

Legacy

By GLENDA KORPORAAL

T

he 2000 Sydney Olympics were famously hailed by IOC President Juan Antonio Samaranch as the “best Games ever.”

And while Sydney provided valuable lessons for all subsequent Olympic planners, Brisbane is seen as a very different proposition.

In 2000, the International Olympic Committee wanted most events held in one city: Sydney.

While the IOC technically awards the Games to a single city, the 2032 bid was more from SouthEast Queensland.

Events will be held statewide, spreading the legacy effects, including the accommodation that will flow from having three athletes’ villages.

In Sydney, the focus was on delivering key venues in a way that did not bankrupt the NSW government, with less focus on subsequent use.

However, the Brisbane Olympics have been specifically designed with a view to their longterm legacy.

The IOC wants to focus on holding costs down by using as many existing venues as possible.

Former Sydney Olympic bid chief and board member of the Sydney Olympic Organising Committee, Rod McGeoch, is urging the Queensland Government to be open to private sector funding or public-private partnerships to construct some venues.

The Sydney Olympic stadium, he says, was privately funded, with the ANZ Bank and Macquarie Bank becoming involved.

A private sector trust was set up to build the stadium, which was bought by the NSW government in 2016.

The athletes’ village, built next to the Olympic precinct, was funded through a public-private partnership involving banks, Lendlease, Mirvac and the state government’s Sydney Olympic Park Authority.

The Sydney Games also saw a privately funded arena used for basketball, which has gone on to become a stadium for concerts and other events.

What is now called the Qudos Bank Arena (sometimes known as Sydney Super Dome) is a 21,000-seat indoor arena that hosted basketball

Then IOC President Juan Antonio Samaranch.

and gymnastics; it was another successful PPP designed and constructed by Abigroup in conjunction with Obayashi Corporation.

It has hosted major concerts by Taylor Swift, Beyonce, Madonna, Stevie Wonder, Bruce Springsteen, Justin Bieber and Katie Perry.

“Private capital can be tapped to do deals and build Games venues which have a great legacy afterwards,” McGeoch says.

“The Sydney Olympic experience shows that if you structure the deals right, there can be plenty of private capital available for Games venues.”

He says the Olympics also provide the opportunity to showcase local architects, which stands them in good stead for bidding on global sporting venues.

McGeoch says security considerations, now even more of an issue than in 2000, could mean more athlete accommodation close to the Queensland venues.

He says Sydney also provides lessons in the management of facilities post-Olympics.

Sydney Olympic Park is now home to businesses that provide work for more than 17,000 people, with some 5,500 people living in the area.

But it has not quite been transformed into the thriving suburb McGeoch and others had hoped for.

In a speech celebrating 25 years since the Sydney Games, NSW Deputy Premier Pru Car talked up the benefits.

But she also confirmed that the area’s future was subject to yet another “master plan” for its development, which would “lay out an ambitious vision of new neighbourhoods” with at least 13,000 new homes and another 25,000 residents over the next 25 years.

She says it would include schools, sporting fields, libraries and community facilities.

A quarter century later, the Sydney Games heartland has yet to find its real mojo. n J U LY 2 0 2 5 • 2 3

SP EC IAL REPO RT

New rules

Australia’s property market set for boost due to tax, legal changes.

24 • AU ST R A L I A N CO N V E YA N C E R

By SAM McKEITH

A

ctivity in Australia’s property market is set to ramp up in the new financial year thanks to a range of tax and legal changes set to take effect across the country, property experts say.

Nationally, a key highlight looking ahead is the re-elected Labor government seeking to pass laws to effectively tax unrealised capital gains.

There’s also a looming extension of the government’s First Home Guarantee, which allows eligible first-home buyers to purchase a home with a deposit as low as five per cent.

In Victoria, stamp duty is set to be slashed for off-the-plan apartments, units and townhouses for another 12 months, and, in NSW, more tenancy reforms – aimed to give tenants greater protections – will come into effect.

While population growth, tight rental markets, and the long-standing issue of housing undersupply remain the key market drivers, especially in the capital cities of Melbourne, Sydney, and Brisbane, experts say the looming tax and law changes will help buoy market activity.

UNREALISED GAINS TAX PROPOSAL

Robyn Jacobson, senior advocate at The Tax Institute, Australia’s leading forum for the nation’s tax community, has highlighted the potential impact on property transactions of the move to tax unrealised gains on superannuation balances of over $3 million.

There has been speculation that well-off retirees across the country have begun selling off assets and restructuring their investment portfolios to try to avoid the proposed changes.

Jacobson says it “could have some effect on housing supply where property is held in superannuation, especially now that Labor has retained government and only needs the Greens’ support in the Senate to pass new law”.

Up to 50,000 self-managed superannuation fund (SMSF) members in Australia could be affected by the proposed overhaul, according to research by the University of Adelaide. >>

Federal Treasurer Jim Chalmers, and, right, Robyn Jacobson, senior advocate at The Tax Institute.

J U LY 2 0 2 5 • 2 5

SP EC IAL REPO RT L AW A N D TA X C HANG E S “The Tax Institute does not support taxing unrealised gains from a policy standpoint; doing so sets a dangerous precedent of taxing gains that may never be realised,” Jacobson says, labelling the measure as “inherently unfair.”

“A tax on unrealised gains is a tax on profit you don’t have yet – and may never have. People over the $3 million threshold may be forced to sell large assets – including property – to foot the bill for tax on unrealised gain,” she says.

“The $3 million threshold is not proposed to be indexed or subject to regular review, which means it will suffer from bracket creep, and over time, more and more taxpayers will be impacted.”

FIRST HOME GUARANTEE EXPANSION

At a national level, there’s also the government’s promise to enable all Australian first-home buyers to purchase a property with a 5 per cent deposit, in what is an extension of the existing First Home Guarantee scheme.

The change, a key election pledge, will allow more borrowers to avoid costly lender’s mortgage insurance, removing the income caps of the current program. It’s one of several key planks in the government’s commitment to build 1.2 million new homes in five years.

Although its timing has not yet been confirmed, Joseph Daoud, an independent economist and founder of Sydney-based It’s Simple Finance, says “ongoing first-home-buyer schemes and stamp duty relief in some states are a win” for first-home buyers as they result in “less upfront cost.”

“It means it’s easier to get into that first home,” he says, “Paired with the recent interest rate cuts, our first-home buyers will have a lot more money and a higher capacity to borrow, and that will allow some buyers to enter the market who otherwise wouldn’t have been able to afford it.”

However, Daoud cautions that higher demand for properties, driven in part by recent federal government tax relief, could undercut the measure.

He warns that it is possible that “firsthome buyers may find themselves competing with other buyers and investors for the same properties.”

“Price growth may outpace the benefits they get from these tax changes,” Daoud says. “So, while it’s a step in the right direction, it’s not a gamechanger unless we address supply shortages.”

IMPACT OF STAGE 3 TAX CUTS

Elaborating, he says it is likely that the government’s Stage 3 tax cuts, which took effect in July 2024, were set to have “a strong influence 2 6 • AU ST R A L I A N CO N V E YA N C E R

Joseph Daoud, of It’s Simple Finance.

on housing demand” into the next financial year.

“When you give people more disposable income, they have more borrowing power,” Daoud says. “In simple terms, higher take-home pay will always equal larger loan sizes, which means buyers can afford to spend more on property – and the banks will always be happy if they’re in higher demand.

“When more people can borrow, demand always goes up, and as we all know, our country doesn’t have a property demand issue, but rather a supply one.”

Jacobson is more circumspect on the flow-on effects of the tax cuts into FY26.

She says that, for most people, any financial benefits of last year’s personal income tax cuts “have more or less been absorbed by rising cost of living pressures.”

Further tax rate reductions announced in this year’s federal budget, which became law before the election, do not take effect until July 1, 2026 and July 1, 2027,” she adds.

“They’re a long way off, and for many taxpayers, will amount to around $5 a week extra in their pockets. That’s not going to make much of a dent in saving for a home deposit or paying off a home loan these days.”

Doubling of super tax under Division 296

By RICHARD CUNNINGHAM

VICTORIAN STAMP DUTY CONCESSION

In Victoria, the property market will get a lift from state government action on stamp duty.

The government this month announced it would invest $61 million in a year-long extension of an existing off-the-plan stamp duty concession aimed at making it faster and cheaper for industry to build new homes targeted at young people.

Set to run until October 2026, the tax break is open to anyone buying an eligible apartment, unit or townhouse off-the-plan. It does not have price caps, meaning it is available for eligible properties of any value.

Since it started in October 2024, the average buyer has saved $24,517 on a property transaction, according to the government, which expects it to help around 5000 Victorians get on the property ladder.

Jacobson backs the stamp duty changes, saying “in general, stamp duty is an inefficient and inequitable tax”.

“It discourages the transfer of property, making it hard for families to upsize or downsize to better suit their circumstances,” the Melbourne-based expert says.

“It also restricts mobility for people to relocate, which can have significant flow-on effects, including the creation of significant barriers to workplace mobility.

“People are potentially deterred from taking on new job opportunities that would require them to move, given the significant extra costs.”

NSW TENANCY REFORMS

In NSW, the property market is undergoing a shakeup due to changes in tenancy law. The new regime, aimed at strengthening protections for renters, requires landlords to provide a reason to end a lease, and it puts an end to so-called “no grounds” terminations. >>

A

Blake Briggs, chief executive of the Financial Services Council.

part from the impact of Trump’s tariffs, few economic topics have generated more debate this year as Division 296.

That’s the somewhat scary name for the Albanese Government’s proposed doubling of tax on the earnings of superannuation balances over $3 million.

Currently, super earnings are taxed at 15 per cent, less than most people pay on their regular salary.

Treasurer Jim Chalmers wants earnings on the proportion of balances over $3 million to attract a 30 per cent tax, or another 15 per cent.

The proposed change is estimated to affect 80,000 people.

Labor argues the rich are using super to stash cash and assets in a tax haven, costing the federal budget some $50 billion a year in lost revenue.

In one example, a person with say, $4.5 million in super might have to cough up an extra $23,750.

But two key features of Division 296 are causing angst: firstly, the $3 million threshold isn’t indexed for inflation. That means more people would be caught in the net each year.

Secondly, the extra tax would apply not just to cash earnings, but “unrealised” increases in the value of illiquid assets, like property. That is, people would be taxed on money they simply don’t have.

At time of writing, Division 296 has not been legislated. It did not progress in the last sitting of Parliament but could pass the Senate with support from the Greens or the Coalition.

The Coalition is opposed to the plan but could be open to negotiation on indexation and unrealised gains. The Greens want a lower threshold of $2 million, but with indexation.

In a June 6 statement, chief executive of the Financial Services Council Blake Briggs urged further consultation.

“The FSC encourages the Government to consult on options that would not unfairly target future generations… and undermine confidence in our retirement system by introducing a new, contentious tax on unrealised capital gains.”

J U LY 2 0 2 5 • 2 7

SP EC IAL REPO RT L AW A N D TA X C HANG E S

Key Federal tax, superannuation, housing and property changes CHANGE

DETAILS

IMPACT

Superannuation Guarantee Increase

Employer contributions rise from 11.5% to 12%

Increases retirement savings for workers

New Super Tax on Balances Over $3 million

Earnings on super balances over $3 million taxed at 30% (up from 15%)

Affects up to 50,000 SMSF members; may prompt asset sell-offs

Interest Deductibility Removed for ATO Charges

Interest on ATO late payments will no longer be taxdeductuble

Encourages on-time tax payments

First Home Guarantee Expansion

Scheme extended to all Australian first-home buyers with 5% deposits, no income caps

Helps more first-home buyers enter the market without lenders mortgage insurance

Victoria Stamp Duty Concession Extension

One-year extension on off-the-plan stamp duty concessions for apartments, units and townhouses

Supports housing construction and savings for buyers

NSW Tenancy Law Reforms

No-grounds terminations banned, stricter rental rules introduced

Potential reduction in rental property supply; could push investors to sell

FROM PAGE 27

It also makes it easier to keep a pet in a rental home, curbs rent increases to once per year, bans extra fees at the start of a tenancy, and ensures tenants can pay rent by bank transfer.

From July, NSW Fair Trading will collect information about the reasons a tenancy has ended, and landlords will be obliged to provide this reason when releasing a rental bond.

A new Fair Trading rental taskforce has been created, with dedicated inspectors and compliance officers whose mandate is to stop breaches of the rental reforms.

Jo Natoli, founder of property management agency The Rental Specialists and board director of the peak industry body Real Estate Institute of NSW (REINSW), predicts that the new laws will prompt an exodus of thousands of investment properties.

“If you have a look at Victoria, for example, when they had their legislative changes go through, they lost around 24,000 properties off the rental market, which put even more strain on the rental market,” Natoli says.

“We are expecting something similar to take place here in NSW. In Victoria, most of the properties that came off were sold.”

She says that if the Victorian experience is 2 8 • AU ST R A L I A N CO N V E YA N C E R

replicated in NSW, there will be upward pressure on rental prices as landlords are forced to take supply offline.

According to Natoli, it is becoming increasingly difficult to invest in property as a landlord, given the diminishing rights of owners.

“When you have a look at some of the changes to the legislation that relate to terminations, for example, it’s very difficult to recover possession of your property unless you have a particular circumstance,” she says.

“We had the ability to terminate a contract because the contract was coming to its expiry date, but now we have a situation in NSW where a contract does not have an expiry date.

“The fixed-term lease has a start date and an end date, but when the end date comes around, I can’t ask the tenant to leave unless certain other circumstances arise in my life.”

With no-grounds evictions now unlawful, landlords must have a valid legal reason – with evidence – to evict tenants, such as renovations or a change in the use of the premises.

The change follows accounts of the emotional toll on renters due to no-grounds evictions, and an effort by the state government to provide tenants with more secure housing.

However, REINSW maintains the change will

worsen the situation for renters, especially in Sydney, where the group says the vacancy rate hit just 1.6 per cent in April, down from 2 per cent in March.

What’s more, it says data shows the number of new loans to investors in NSW fell by more than 2500 in the March quarter – a worrying sign for the period ahead.

Natoli says that, given more property transactions are likely as investors sell properties, the state’s conveyancers could “be the beneficiaries of a more buoyant sales market.”

“That would be good for them,” she says of the laws’ impact on conveyancers, while saying that they pushed investors away from investing in residential property and towards commercial.

“I can go and invest in commercial tomorrow and have none of these issues.”

Marcus Denning, principal of law firm Denning Legal, which specialises in property and construction law, echoes Natoli’s comments.

He says that some landlords are reviewing their long-term rental strategies in the wake of the tenancy law reforms.

According to the lawyer, some clients were already deciding to sell or rent out their homes using Airbnb, hoping to escape the extra regulations.

“The outcomes of these decisions may reduce the number of available rentals and cause prices to increase for tenants who are already struggling,” he says.

“Moreover, I anticipate more discussions about the best times to pay capital gains tax, alterations in negative gearing and the risks involved with property trusts.

“If the responsibilities of landlords rise under new laws, people may invest their funds differently. As far as I am concerned, these updates will transform contracts and gradually influence the way people invest.” n

Jo Natoli, founder of property management agency The Rental Specialists.

Rental rules favour pets

N

ew eviction rules and pet rights have come into force as part of the NSW rental shakeup.

Landlords now cannot evict tenants without good cause in NSW, marking the end of no-grounds evictions.

The reforms are aimed at NSW’s two million renters, according to Premier Chris Minns.

Tenants will also be able to apply for a pet, with owners only able to refuse the request for specific reasons, such as the owner living at the property.

Approval will be automatic if owners do not respond to pet applications within 21 days.

Housing minister Rose Jackson believes the reforms are the biggest step forward for renters in a generation.

“These reforms recognise that pets are part of people’s families,” she says.

“Renters shouldn’t have to choose between a place to live and keeping their companion animal.

These changes put common sense into the rental system and end the blanket ban on pets.”

Victoria recently passed similar laws in March, which included a complete ban on evictions without a reason.

South Australia and the ACT have already banned no-grounds evictions for both periodic and fixed-term tenancies, while Queensland and Tasmania have only put a stop to the latter.

Western Australia and the Northern Territory allow no-grounds evictions for all tenancies.

J U LY 2 0 2 5 • 2 9

This is what I’ve learned AFL great Luke Darcy touches on the tough game that taught him about leadership – and how conveyancers can reflect on their own leadership.

By Melissa Iaria

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THE WISD OM O F LU K E DA RCY

T

he early days of AFL star Luke Darcy’s career were marked by some brutal moments.

At just 18, the Western Bulldogs rising star was playing his fourth match against Hawthorn.

His intimidating opponent was Chris Langford, who was 12 years his senior and at the peak of his prowess.

“We were getting smashed and the reason is because of me,” Darcy recalled. “I was just completely outplayed in every sense of the word.”

Fully aware he was falling short, Darcy saw the Western Bulldogs’ runner heading towards him with a personal message from the coach.

“His style was to take the coach’s ferocious message and add 25 per cent of his own on top,” Darcy says. “I’ll never forget what he said to me that day. He yells out, so everyone can hear: ‘The coach thinks you’re playing the worst game in AFL history.’

“I remember Chris Langford pissing himself laughing.”

But the public critique wasn’t over: “The funny part is he’s going to leave you out here because he thinks it’s not possible to play any worse,” the runner continued.

Darcy was deflated, but teammate Tony Liberatore lifted his spirits, crossing the field just to hurl a cheeky sledge at Langford.

“I remember thinking: ‘Wow, this teammate who clearly knew how bad I was going, took some time out to run 250 metres to just see if he could make me feel a bit better’.

“I remember thinking, ‘I’ve got to find a way to care as much as he does’. But I remember also thinking, ‘Geez, that “We lost a lot of good wasn’t that helpful, that message people because there from the runner.’” wasn’t any nuance in Darcy reflected on the changing face of leadership during his keynote the way that people speech at Australian Conveyancer led in that era.” magazine’s inaugural Beyond Conveyancing event on May 7 before over 100 industry figures.

Darcy – who played over 200 games for the Western Bulldogs before becoming a respected media identity and now co-founder of coaching firm Aleader – described the leadership from that era as “brutal” and “intense”.

While it might prompt laughs today, most players felt they had no real say in their own development. The coaches were seen as all-knowing, and their word was law.

AFL great Luke Darcy.

“A lot of people couldn’t cope with that,” Darcy says. “We lost a lot of good people because there wasn’t any nuance in the way that people led in that era.”

Today’s leaders have flipped the script, with AFL coaches like Collingwood’s Craig McRae frequently expressing his love for the athletes in his care.

“Can you imagine an era we played in that a coach would talk about love?” Darcy asks.

Rather than paying lip service to family values, the club lives by them, even inviting mothers to training for Mother’s Day. “My mum married an AFL footballer, her son was an AFL footballer, her grandson’s an AFL footballer. She’d never been anywhere near the training room before,” Darcy says.

“It costs nothing, but they live the family values. That’s how you create great empathy and great connection.”

Darcy says the new generation of leaders is more inclusive and supportive than ever.

“The people we see around the globe in highpressure roles, they’ve got more empathy than ever before, more connection to people than ever before. They understand people’s families more.

It’s genuine and authentic.

“Then inevitably, when you need to have a difficult conversation, because we all do, it’s an easy thing. It’s not the brutal: ‘Can you cope, or are you weak or are you out?’”

Darcy emphasised how good leadership was life-changing, highlighting the transformative impact of his childhood friend Matt Wadewitz’s teaching methods.

Wadewitz became the champion of a group of South Australian teens on the verge of being kicked out of high school by sparking their curiosity in a local unsolved murder.

Inspired, the students took their learning to the real world, eventually helping reopen the cold case. The impact on the students was lifechanging, with all going on to complete year 12 and 80 per cent pursuing tertiary study.

“Their life changing moment happened because someone took some care and empathy in their world, when others would have easily just let them slip by,” he added.

Darcy encouraged conveyancers to reflect on their own leadership practices and how to fill their own cups to be their best for others.

He referenced US basketball coach Mike Dunlap and Hal Elrod’s book The Miracle Morning, which promotes six life-transforming daily habits: meditation, affirmations, visualisation, exercise, reading and scribing.

“You would set yourself up in a way that would allow you to live a pretty extraordinary life,” he says. n J U LY 2 0 2 5 • 3 1

NUM B E R S IN TH E N E WS Here’s a recap of the numbers that got our attention at Australian Conveyancer over the past month. From fines faced by conveyancers for compliance breaches and a petition against kickbacks to the way building costs and construction times have ballooned over the past decade, these numbers showcase the rapidly shifting market conveyancers must navigate.

AML FINES

HOUSING SHORTFALL

FINES OF $19,000 A DAY OVER AML BREACHES That’s the harsh reality for those who do not sign up for the new anti-money laundering regime. Failure to carry out annual compliance reports also carries a $19,000 fine.

FEDERAL GOVERNMENT FACING 400,000-HOME SHORTFALL A stark reality is that the Albanese government needs to adopt drastic measures to get anywhere the target of 1.2 million homes by 2029.

VIC CONVEYANCERS PETITION

QLD PROPERTY BOOM

AUSTRAC

MORE THAN 850 SIGN CONVEYANCERS PETITION TO BAN KICKBACKS IN VIC The campaign set up by the Victorian AIC has called on the state government to urgently address the growing issue of kickbacks, referral fees and incentives in the conveyancing industry. These unlawful practices not only undermine consumer rights but also contribute to significant conflicts of interest, leading to potential financial harm and reduced quality of service for clients.

PERTH PROPERTY GROWTH HOMES IN PERTH WORKING HARDER THAN OWNERS Perth was the only real estate market in Australia where houses earned more than its residents’ incomes. The city’s house prices surged by $95,022, climbing from $812,482 to $907,504.

URBAN DEVELOPMENT INSTITUTE OF AUSTRALIA INSTITUTE.

QUEENSLAND PROPERTY SOARS MORE THAN 60 PER CENT OVER FIVE YEARS Prices for houses and units have climbed from $490,000 in March 2020 to $790,000, with unit prices jumping from $385,000 to $640,000 – a 66.23 per cent increase. The Real Estate Institute of Queensland (REIQ) highlighted the jump in its report for the March quarter, which shows both house and units have gone through the roof.

BUILDING COSTS SURGE BUILDING COSTS UP 20 PER CENT IN FIVE YEARS The cost of building a home has skyrocketed by 40 per cent over the past five years while construction times have ballooned by 80 per cent over the past decade, according to the peak building body, Master Builders Australia.

PROPTRACK/REA

MASTER BUILDERS AUSTRALIA

REGIONAL MIGRATION IN GEELONG

STUDENT HOUSING INVESTMENT

GREATER GEELONG TOPS REGIONAL MIGRATION LADDER Victoria’s second city has taken first place among movers, as net migration to regional Australia climbs 40 per cent above pre-COVID levels.

STUDENT DIGS INVESTMENT SEES $1.8BN OF DEALS THIS YEAR – UP 15 TIMES ON 2024 More than 12,000 student beds are due for completion by the end of 2026 as the sector booms.

REGIONAL MOVERS INDEX

FRANK KNIGHT