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Reforms on underquoting address ongoing market frustrations

Calls for reforms intensify as underquoting continues to frustrate buyers, says Nicole Rich from Consumer Affairs Victoria

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Calls for reforms intensify as underquoting continues to frustrate buyers, says Nicole Rich from Consumer Affairs Victoria

In Short:
– Significant reforms on underquoting were introduced in 2017, following ongoing government complaints regarding the market.
– Proposed legislation includes requiring agents to disclose reserve prices seven days before auctions to enhance transparency.

In this episode of Beyond the Deal, host Dion Besser talks with Nicole Rich from the Consumer Affairs Victoria about the reforms and issues on underquoting schemes.

The Australian government has proposed reforms to tackle underquoting in real estate, prompted by ongoing complaints from buyers. Underquoting has been a contentious issue for years, with Nicole Rich noting frustrations arise when properties sell above advertised prices. Consumer Affairs Victoria has operated an underquoting task force for three years, yet complaints persist.

Deemed misleading

Current laws from 2017 require agents to provide reasonable price estimates and ensure advertising aligns with these estimates. Underquoting occurs when a property is advertised below the estimated price or rejected offers, which is deemed misleading. Recently, guidance on selecting comparable properties was revised, addressing concerns about agents cherry-picking data.

Proposed reforms include requiring agents to disclose the reserve price a week before auctions, improving transparency for buyers. While the Queensland model of not disclosing prices has mixed opinions, Rich believes that seven days provides a reasonable timeframe for market testing.

Discussions also explore a potential registration system for bidders to foster fair competition. Rich emphasizes that the industry must comply with laws, and buyers should educate themselves on local prices. Collaboration among all parties is crucial to eliminate underquoting and ensure transparency in the market.

For more information, visit Besser+Co. Estate Agents.


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David Holm on designing better public spaces in cities

David Holm discusses designing denser, people-friendly cities while promoting his book, Drawing the City, focusing on public spaces and community

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David Holm discusses designing denser, people-friendly cities while promoting his book, Drawing the City, focusing on public spaces and community

In Short:
– David Holm discusses his book, Drawing the City, exploring urban design for better public spaces in Australia and the UK.
– He emphasises that great cities prioritise density through public places, community, and walkability, rather than high-rise buildings.

In this episode of The Connector with Belinda Coates, Australian architect and author David Holm shares insights from his book Drawing the City, based on his travels to 500 cities worldwide. He explores how thoughtful urban design and public spaces can create thriving, people-friendly cities that reduce reliance on cars.

Holm emphasizes the power of drawing as a tool for truly observing and understanding city environments, encouraging students and enthusiasts to capture more than just what meets the eye. He challenges misconceptions about urban density, showing how well-planned cities can balance population with public amenities.

From Trafalgar Square to Central Park, and Vancouver to Copenhagen, Holm highlights examples of successful, walkable, and bike-friendly cities. He also discusses the importance of continuity, diversity, and social equity in urban planning, celebrating Venice in winter as his favourite city for its unique interaction with space.

For more information, visit HarperB.


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London’s investment landscape reshaped by global collaboration

Belinda Coates and Jace Tyrrell discuss global capital’s impact on London’s investment landscape in latest episode of The Connector

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Belinda Coates and Jace Tyrrell discuss global capital’s impact on London’s investment landscape in the latest episode of The Connector

In Short:
– Jace Tyrrell discussed promoting London to global capital markets during “The Connector” with Belinda Coates.
– Key investment areas include Build-to-Rent, the experience economy, and integrating lessons from global cities like Riyadh.

In this episode of The Connector, host Belinda Coates features Jace Tyrrell from Opportunity London, focusing on the transformation of London’s investment landscape due to global capital collaboration.Tyrrell recently completed a five-week delegation across Asia and the Middle East, visiting cities to promote London to global investors. The primary aim was to secure the next £100 billion in capital investment, resulting in promising deals for the city.

Urban planning

In Tokyo, Tyrrell noted innovative workspace designs, particularly Nomura’s global headquarters, which prioritised employee well-being. His visit to Hong Kong revealed effective transport and urban planning, with interest in applying similar development strategies in London’s Victoria and Waterloo stations.

In Riyadh, Tyrrell observed a significant cultural shift and vast investment in heritage sites. He praised the youthful workforce, many educated abroad, contributing modern skills to Saudi Arabia’s growth.

Despite facing recent challenges, Tyrrell believes London has overcome hurdles, focusing on capital deployment and projected transactions of approximately £15 billion this year. Opportunity London highlighted its successes over the past year, aiming for a revitalised, dynamic London by 2026. Tyrrell plans to visit Australia in February 2026.

For more information, visit HarperB.


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Data center market growth insights for investors’ strategies

Investors eye booming Australian and UK data center markets, insights from Louisa Curcio and Eleanor Kwak on key trends

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Investors eye booming Australian and UK data center markets, insights from Louisa Curcio and Eleanor Kwak on key trends

In Short:
– Australia’s data center market is accelerating, with $6.7 billion in investment and notable international operators entering the space.
– The UK’s data center market is booming due to AI adoption, with over $44 billion invested and major projects announced.
Australia and the UK are witnessing significant growth in their data center markets, attracting considerable investment. In 2024, Australia ranked second globally for data center investment, allocating $6.7 billion. Increased interest from international operators complements strong local companies like CDC and AirTrunk.

Eleanor Kwak, a partner at Johnson Winter Slattery, supports investors in navigating regulatory frameworks and transactions, amid a more engaged government facilitating these developments. The National AI Plan aims to expedite data center projects, while the Foreign Investment Review Board oversees security concerns related to foreign investment. The Australian Competition and Consumer Commission is intensifying scrutiny on competition in digital infrastructure.

Planning reforms

In the UK, accelerated growth is underpinned by AI adoption and digital transformation. Recognised as “critical national infrastructure,” data centers benefit from planning reforms prioritising grid access. Investment in this sector has reached over $44 billion, with the market expected to nearly double by 2028.

Louisa Curcio, a partner at Rider Levett Bucknall in  London, highlights the need for early involvement in projects to enhance flexibility. Here, power availability remains a constraint, compelling companies to adopt sustainable practices while navigating regulatory challenges. Global trends indicate increased community engagement and varying regulatory environments influencing investment strategies across regions.

For more information, visit HarperB.


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