Szabo & Associates News & Updates

NSW may gain a significant boost to housing supply with the introduction of new strata laws making it easier to sell or convert strata titles.

The New South Wales government plans to set aside almost $280 million for a voluntary buyback scheme for homes containing loose-fill asbestos. It is believed there are as many as 511 homes in NSW built by the Mr Fluffy company which used loose-fill asbestos type roofing insulation during the 1960s and 70s. Asbestos fibre is the most prominent cause of mesothelioma - the aggressive lung cancer.

The Property Council of Australia  have recently released figures that reveal the eye watering extent of stamp duty increase all across the country.

Real estate agents in the Australian Capital Territory are obligated by law to disclose the presence of asbestos in property or they may face fines of $1 million plus - however their NSW counterparts have no clear guidelines.

The NSW government's new laws that crackdown on property underquoting could result in fines doubling for real estate agents.