Sydney is featured in a top 25 of the most economically powerful cities in the world; the only Australian city to do so. New York tops the study by Martin Prosperity Institute and Citylab which uses metrics such as overall economic clout, equity and quality of life, financial power and global competitiveness. Asia features heavily with Tokyo in third place, behind London, and Hong Kong, Singapore and Seoul also in the top 10. Further down the list, and beaten by Sydney, are Osaka-Kobe, Beijing and Shanghai. Read the full story.
Battle lines drawn between property listings servicesThe battle between property listings services operated by Fairfax and News Corp is hotting up. A report from Roy Morgan Research shows that in Melbourne News Corp’s realestate.com.au and Herald Sun listings are searched by almost a million people in an average week, with Fairfax’s Domain and printed publication The Age receiving less than half the number. However in Sydney Domain falls just 8,000 home hunters behind News Corp.
Source: Roy Morgan Research
Communications minister stands by comments on use of super for homesThe Communications minister Malcolm Turnbull says that he is not contradicting his colleagues, including the Treasurer and Prime Minister, in saying that using superannuation funds for housing deposits is “a thoroughly bad” idea. Turnbull made the comments in response to Joe Hockey’s proposal but says that they were not a criticism of the treasurer. He says that ideas like these come around from time to time and warrant debate and opinion.
Source: Sky News
Governments failing on public housingA summit held yesterday in Darwin highlighted issues surrounding public housing for Aboriginals in the Northern Territory. Many homes, residents say, have been left needing repairs, or repairs have been badly carried out, leaving residents frustrated. Residents say that territory and federal governments have not kept their promises but Andrew Clapham of NT Department of Housing says that $2 billion has or would be spent on new and existing homes in the 10 years to 2018.
Collections: Mortgage News