📈 Today's Commercial Property & SMSF News
Construction Costs Stabilizing for Major Projects in Victoria
Luxury property developer Tim Gurner has announced that construction costs have finally stabilized after a challenging four-year period. Gurner revealed that $3 billion in major projects are now meeting their financial targets. He highlighted a partnership with Costa Property Group to develop a luxury hotel and apartments on Cunningham Pier in Geelong, stating that the construction crisis impacting high-density apartment developments is subsiding. Gurner noted the difficulties faced between 2020 and 2024 but confirmed that newly signed building contracts are back on budget.
Source: www.news.com.au
📊 Yesterday's Key Developments
Father Figure Status Can Trigger Estate Claims, Warns Legal Expert
According to Matthew Burgess from View Legal, complex estates face increased challenges due to intergenerational wealth transfer. A recent court case, El-Bayeh v El-Bayeh [2025] NSWSC 1177, highlights that courts thoroughly examine a claimant's history when making decisions. Burgess also referenced Cotter v Tomassini [2025] VSC 518, where an adult child with no financial or health issues successfully claimed $1.15 million from her father's $6 million estate, despite being likely to inherit over $40 million from her mother. The greater the estate, the more contingencies need to be considered.
Source: www.smsfadviser.com
Government Aims for Fairer Superannuation Concessions
Assistant Treasurer Daniel Mulino stated the government's commitment to creating a fairer and more sustainable superannuation system. He believes the revised superannuation tax policy achieves this goal. Mulino highlighted adjustments made to the higher-end balances after considering feedback received over the past two years, demonstrating the government's responsiveness to concerns.
Source: www.smsfadviser.com
ATO Targets Compassionate Super Release Misuse, Focus on Health Practitioners
The Australian Taxation Office (ATO), in collaboration with the Australian Health Practitioner Regulation Agency (AHPRA), is scrutinizing the increasing use of compassionate release of superannuation (CRS), particularly concerning medical practitioners. The regulators are targeting business models and practices where superannuation funds are used for costly or unnecessary medical treatments. ATO data reveals a significant rise in CRS applications, growing from 56,400 in 2021–22 to 90,700 in 2024–25, with costs reaching $104.4 million. A significant portion of the increase is related to dental services.
Source: www.smsfadviser.com
Perth Hills Estate with 'Beautiful View' Hits the Market
The 'La Bella Vista Estate' in the Perth Hills, a 6.4ha property at 113 Kawina Road, Bickley, is for sale. The property includes a seven-bedroom, eight-bathroom residence with 1476sqm of living space, abundant birdlife, lush gardens, panoramic views, and frequent kangaroo visits. It also features two large function and entertaining rooms.
Source: www.realestate.com.au
Sydney Ranked Most Pest-Infested City in Australia
A recent study by Airtasker identifies Sydney as the most pest-infested city in Australia, with eight of the top ten most pest-ridden areas located within the city. The City and Inner South, Eastern Suburbs, and Inner West were particularly affected due to high population density, limited pest control services, and increased pest activity driven by climate and waste levels.
Source: www.realestate.com.au
Victorian Rental Listings Limited to Fixed Prices
Landlords and agents in Victoria are now prohibited from advertising rental properties with price ranges or 'contact agent' options on major online portals. This measure is part of a crackdown by Consumer Affairs Victoria, which has issued 90 fines totaling $750,000 since 2024 for various offenses, including inciting rental bidding. The new rule requires rental listings to display a fixed price.
Source: www.realestate.com.au
Interstate Buyer Claims Werribee Home Sight Unseen Until Auction Day
A Queensland buyer purchased a three-bedroom mid-century house in Werribee, Victoria, for $946,000 after only seeing it in person on the day of the auction. The buyer, relocating to Victoria, was drawn to the property's character and successfully bid against other contenders, exceeding the $890,000 reserve. His partner was reportedly thrilled with the purchase.
Source: www.realestate.com.au
Glen Huon Property Attracts Strong Interest Due to Price and Location
A 38-acre property located at 42 Frypan Rd, Glen Huon, Tasmania, has become highly popular, attracting first-home buyers, those seeking a change of scenery, and individuals looking to relocate. Priced at $395,000 plus, the property's appeal lies in its affordability and suitability for an off-grid lifestyle. The agent noted significant interest, with numerous groups attending the open house and multiple offers being considered.
Source: www.realestate.com.au
Sydney's 'Green Bans' Protected Historic Buildings and Influenced Economic Thought
In the 1960s and 70s, Sydney's The Rocks precinct faced demolition, but union-led 'green bans' saved the historic area. These actions, involving figures like Jack Mundey, highlight a conflict between development and preservation. The article suggests this preservation effort offers lessons for economists.
Source: www.abc.net.au
Published: Monday 20 October 2025 | Fresh Articles: 16 | Sections: 10 | RunID: 2025-10-20T08:23:59+11:00
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