Szabo & Associates News & Updates

With 64 per cent of homes testing positive for drug residue in the past year, the State Government sets to consider mandatory screening on rental properties contaminated with methamphetamine. According to the Real Estate Institute of Australia, the move to test whether properties have been used as drug labs or have residue from meth use, would be a first for Australia.

House prices could fall by more than 40 per cent in the ‘worst crash since the 1890s depression’, a new report warns. Founder of LF Economics, Lindsay David, who has been warning of the looming property crash for half a decade, predicts a 15 to 20 per cent plummet in the upcoming year alone.

As Sydney’s residential real estate market continues to take a hit along with the rest of Australia, the city’s industrial sector has become an attractive alternative and remains the preferred destination for investment in Australia with a total of $12.5 billion in deals in 2018.

The NSW Department of Planning has recently issued a draft proposal to alter the Affordable Rental Housing State Environmental Planning Policy (SEPP) concerning the number of rooms allowed per boarding house in R2 low-density residential zones.

A property developer has recently been granted official ownership of a derelict property in Sydney he discovered two decades earlier. The three-bedroom, one-bathroom house which Bill Gertos renovated and rented out has been valued to be worth an estimated $1.6m.