{"id":20585,"date":"2019-08-14T17:28:14","date_gmt":"2019-08-14T05:28:14","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=20585"},"modified":"2024-03-01T20:54:50","modified_gmt":"2024-03-01T07:54:50","slug":"domain-and-realestate-com-au-websites-are-awash-with-re-sale-advertisements-of-off-the-plan-apartments","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/domain-and-realestate-com-au-websites-are-awash-with-re-sale-advertisements-of-off-the-plan-apartments\/","title":{"rendered":"Domain and realestate.com.au websites are awash with re-sale advertisements of off-the-plan apartments"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><strong>PHOTO:\u00a0Mirvac&#8217;s Susan Lloyd-Hurwitz at the top of St Leonards Square in Sydney&#8217;s lower north shore.\u00a0\u00a0<cite class=\"_23SOU\">Supplied<\/cite><\/strong><\/p>\n<p><a href=\"https:\/\/www.afr.com\/property\/residential\/apartment-settlement-risks-for-mirvac-lendlease-mitigated-fitch-20190603-p51txu\" target=\"_blank\" rel=\"noopener noreferrer\">Domain and realestate.com.au websites are awash with re-sale advertisements of off-the-plan apartments<\/a>\u00a0at Mirvac&#8217;s St Leonards Square development as the developer tops out its project on Tuesday.<\/p>\n<p>About 60 out of 80 units for sale in St Leonards \u2013 on each of Domain and realestate.com.au \u2013 are units in the 527-unit St Leonards Square project at 472-486 Pacific Highway on Sydney&#8217;s lower north shore.<\/p>\n<p data-gtm-vis-first-on-screen-7770372_137=\"45714\" data-gtm-vis-total-visible-time-7770372_137=\"4000\" data-gtm-vis-recent-on-screen-7770372_137=\"187077\" data-gtm-vis-has-fired-7770372_137=\"1\">Mirvac chief executive Susan Lloyd-Hurwitz says she is confident the two-stage settlement for the project in October and December will proceed smoothly as the company doesn&#8217;t allow &#8220;nominations&#8221;, where a contracted off-the-plan buyer finds another buyer to take over the sale and settlement.<\/p>\n<p>This practice is not allowed in NSW but allowed in other states like Victoria. An off-the-plan resale in NSW is treated as a secondary sale and a second round of stamp duty must be paid.<\/p>\n<p>&#8220;<a href=\"https:\/\/www.afr.com\/property\/residential\/mirvac-office-earnings-cushions-weak-residential-results-20190808-p52f0n\" target=\"_blank\" rel=\"noopener noreferrer\">As we said last week to the market [during results] that our default rate is under 2 per cent<\/a>\u00a0and this is certainly a project that will settle very well. We have worked with our customers for many months to prepare them for settlement,&#8221; Ms Lloyd-Hurwitz said.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.afr.com\/property\/residential\/apartment-re-sales-at-mirvac-s-st-leonards-square-20190813-p52gmo\">AFR<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; PHOTO:\u00a0Mirvac&#8217;s Susan Lloyd-Hurwitz at the top of St Leonards<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/domain-and-realestate-com-au-websites-are-awash-with-re-sale-advertisements-of-off-the-plan-apartments\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":20586,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478106659,478098573,478098730,478098512,478098521,478098945,478106658,478098519,478098535,478098762,478098556,478098513,478101743,478098873,478098579,478098510,478098514,478098511,478098705,478098533,478098509,478106657,478106660,478098536,478098618,478100610],"class_list":["entry","author-data123nz","post-20585","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-472-486-pacific-highway","tag-apartment","tag-auctions","tag-australia","tag-australians","tag-domain","tag-ealestate-com-au","tag-home-ownership","tag-house-prices","tag-mirvac","tag-nsw","tag-property","tag-property-correction","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-st-leonards-square","tag-susan-lloyd-hurwitz","tag-sydney","tag-sydney-property","tag-sydneys-lower-north-shore"],"yoast_head":"<!-- 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