Hornsby Shire Housing Strategy

Apparently the NSW Liberal Planning Minister gazetted the previous (Labor) state government's Housing Strategy on Friday 2 September. There seems to have been no public consultation on this issue since the new Liberal party took over at the election.

Construction Costs per sq m, Sydney

An interesting table is published in Maverick, a bulletin by BMT & Associates. For instance a 4 bedroom full brick home on a level block single level unique design is quoted as between $1,640 and $2,010 per sqm excluding GST. More details can be obtained at their website, http://www.bmtqs.com.au/.

Auction Bidder whose cheque Bounced

A report in the Sydney Morning Herald, by Stephen Nicholls, tells how a buyer who bid $2.3M for a house, and paid the required 10% deposit by cheque, was successfully sued by the vendor. By then the vendor had sold the property to another buyer for $1.95, and the Supreme Court ruled that the failed buyer must pay the difference, $350,000, plus interest.
The failed buyer's solicitor claimed his client had no money, but it turned out she owns several properties, although with significant liabilities.
So the key lesson is, if you can't raise the money in time for settlement, don't bid at auction! If your wealth is in property, then the disappointed vendor will pursue you confident that in time he will get his money.