A cabal of speculators that acquired swathes of land on Sydney’s lower north shore, in the anticipation of making a motza once the rezoned for high-rise development, are now sweating on State Government approval. From The Brisbane Times:
Developers who have taken a half-billion-dollar gamble on the rezoning of suburban properties on Sydney’s lower north shore face a nervous wait for the state government to come to their aid – in the face of angry and frustrated residents nearby.
YOU MAY ALSO BE INTERESTED IN
CoreLogic weekly Australian house price update: universal losses
By Leith van Onselen In the week ended 20 June
Final auction clearance rate highest in 13 months
By Leith van Onselen Last weekend, CoreLogic
Interest only loans swing from downside to upside risk for house prices
APRA released quarterly ADI property exposures
Faulty apartments create generation of "mortgage prisoners"
By Leith van Onselen Australia's apartment