The Lot | December 2024

For our final edition of The Lot for 2024, we bring you a recap of our inaugural Maddocks Property Development Conference that brought together property industry leaders and professionals for an in-depth exploration of the latest key legal updates, and the opportunities and challenges facing the sector today and into the future.

With the conference sparking interesting discussions and debate, several of our expert Maddocks presenters have transformed their sessions into insightful articles to keep you informed and ahead of the curve in property development.

In this edition, we explore the potential impact of the upcoming building regulation overhaul, strategies for funding projects in a competitive market, and offer an intriguing perspective on Victoria's Housing Statement. We also dive into the newly introduced off-the-plan stamp duty concession, examining the opportunities and implications for both developers and purchasers. We also cover new legislative updates on the Short Stay Levy, which presents both challenges and opportunities for owners and developers, as well as a case update on Section 28 Notices of the Retail Leases Act 2003 (VIC).

Our Industry Insider feature returns as well, where we share the latest highlights at recent industry events, including awards and expert presentations by the Maddocks Development team.

As we reflect and finish off the year, we extend our thanks for your continued support and look forward to bringing you more in 2025.

• Victoria's Housing Statement brings bold reforms and an ambitious vision for the decade ahead

  By

  • Terry Montebello

  After what seemed to be years of relative policy inaction, the Victorian Government published the Housing Statement in September 2024. It was called Victoria’s Housing Statement – The decade ahead 2024 – 2034. We recap on the key announcements, and consider what the road ahead looks like.

• Future building regulation overhaul – what’s the possible impact on developers?

  By

  • Simone Holding

  The recent announcement that the Victorian Building Authority (VBA) would be replaced by a new, ‘one stop shop’ regulator for the building industry caught the eye of most property and construction industry participants. We discuss the changes.

• Funding projects in a competitive market

  By

  • Arlene Colquhoun

  Obtaining funding for construction and development projects in the current lending environment can be tricky. It pays to be aware of the range of funding providers on offer and how they differentiate themselves in terms of pricing and terms.

• Victorian Government Off-the-Plan Stamp Duty Concession

  By

  • Cynthia Mercuri

  As part of a larger plan to stimulate the industry to deliver more housing supply and encourage more Australians to enter the property market, the Victorian Government has recently announced that the off-the plan stamp duty concession scheme will be expanded for people buying an apartment, townhouse or unit, off-the-plan.

• The Importance of Precision in Section 28 Notices

  By

  • Catherine Marino
  • & Crystal Roman

  A recent VCAT case highlights the key issues to consider for landlords in retail leasing when issuing a section 28 rent review notice.

• New Short Stay Levy to bring challenges and opportunities for owners and developers

  By

  • Mark Kemp

  There has been a rise of disputes within apartment buildings due to increased growth of online accommodation platforms. In response to these issues the Victorian Parliament has introduced the Short Stay Levy Bill 2024 (Vic) which will come into effect on 1 January 2025.