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AML risk: Conveyancers’ case against ‘deposit flicking’

THE peak body for NSW conveyancers has backed an industry petition calling for action to clamp down on controversial “deposit flicking” by real estate agents. The emerging practice, in which an agent transfers a purchaser’s property deposit to a third party to hold on the agent’s behalf until settlement, may constitute a breach of professional obligations, the Australian Institute of Conveyancers NSW argues. It says some real estate agents appear to believe that by avoiding holding funds in their trust account, they can bypass tough new AML/CTF rules. An online petition launched by J

Zoning scorecard reveals most housing-friendly city

Dreary consumer sentiment set to be put to the test

How first-time homebuyers can save $8,500 in taxes

State government under fire over home completion rates

More homes get the green light for construction

Australia falls further behind housing supply target

Retrofit rewards ushers in era of fire-safe homes

FIRE-RESISTANT home upgrades have rocketed to the top of the to-do list for Jem Gay. Summer bushfires that tore through more than 4000 hectares and destroyed 50 buildings in Harcourt in

Slow, steady rise to meet AML/CTF target

CONVEYANCERS might be dragging the chain on their AML/CTF enrolments, with only 1,550 registered with AUSTRAC as of July 2. However, 5,550 lawyers have enrolled, and many of them also pr

‘Keeps me up at night’: rental rupture laid bare

THE typical Australian renter is spending a record share of income to keep a roof over their head as younger generations find themselves squeezed between rising rents and falling wages.

Conveyancers back bid to regulate e-platform

A PROPOSAL by the NSW Independent Pricing and Regulatory Tribunal (IPART) to rein in fees charged by digital property platform PEXA has been welcomed by the state’s conveyancers. Last we