Vol 11. No.166
Wednesday 01 September 2010
Economic Overview
|
Current |
+/- |
Movement |
| $AUS/$US |
88.93 |
-0.86 |
 |
| Cash Rate |
4.50 |
Steady |
 |
| 90 Day Bill |
4.76 |
Steady |
|
| 10 Year Bond |
4.765 |
-0.080 |
|
| ASX 200 |
4404.2 |
-48.5 |
|
NSW Property
NSW S.94 Contributions to rise (AFR Pg.58)
-
Yesterday the NSW government announced the $20,000 S.94 developer contribution cap will only be retained in established areas whilst greenfield areas will see their cap increase to $30,000.
-
The increase has been attributed to the cost of developing "well-planned communities".
-
In June the government announced a flat $20,000 cap for developer contributions and the use of the Independent Pricing and Regulatory Tribunal to assess plans.
National Property
Building approval update (AFR Pg.4)
-
In July total building approvals for residential dwellings increased by 2.3%, mostly due to the rise in medium density approvals in Victoria and NSW.
-
Building approvals for new homes grew in July, the first time in 4 months.
-
Over the year the number of apartment building approvals rose by 38%.
-
In NSW 1,110 apartments were approved over the month, a 130% increase over the year. This is the second highest monthly approval rate since November 2007.
-
Victoria had 1,416 apartment approvals, the strongest result since October 2003.
Sources: As above
Disclaimer: All representations and information contained herein are made in good faith. The Information in this report contains material from other sources. Landsburys
Property Pty Ltd has not checked those sources and accepts no responsibility for the accuracy for that information. The information contained in this communication is
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