2017: Australia’s second richest man was almost stopped from fleeing from China to Australia in 1948 by a government decision that split his family forever …

AT CAAN we found there were still a few gaps to be filled. It is a bit of a read but well worth taking the time …

Within the article he is described as his father’s son … and this is borne out in his immense ability to accumulate wealth … his business acumen … and drawing on the childhood he spent in China to later become the means by which he became as Managing Director of MERITON, Australia’s biggest residential property developer … was it Harry Triguboff through the Developer Lobby, the Urban Taskforce that convinced the government to increase the sell-off of ‘new homes’ from 50% to 100% overseas? And thus pioneered selling apartments to the Chinese through the FIRB Ruling.

By which means aspiring Australian First Home Buyers have been locked out by the huge competition of Chinese buyers laundering ‘black money’ in our domestic housing …

As for the money, do you believe for one minute, that the Triguboffs arrived with only some?

It seems at best disingenuous, or the very least a misinterpretation of what a lot of money was in 1948!

Ask yourself, who paid what to:

-escape China
-who paid the fares
-who paid the school fees/uni fees/ living expenses

It takes more than working hard to do what he did.

Some understanding of his attitude to authority is gained in the article, but why should he be treated any different to others?
That’s the real question … what has happened so that he has won more than anyone else?

Is there a cloud out there, a veil that will only be lifted when he finally goes to the other place?

*Perhaps then the truth will emerge about the past, and hopefully due process available to communities across Sydney and elsewhere will have a chance to be heard, respected and achieve outcomes that are more about amenity than profit


Harry Triguboff, meeting the AFR Magazine at his home in Sydney’s Vaucluse, breaks his silence about the one battle he couldn’t win: “I didn’t cry at the time; I cried all those years later.”

Geoff Winestock

Geoff Winestock AFR Woodcut

by Geoff Winestock

Dec 8, 2017 

Harry Triguboff is the hard man of Australian property. He is known for his sharp temper and his public battles with everyone from Reserve Bank governors and prime ministers to state politicians, planning bureaucrats and anyone else who gets in the way of his huge apartment construction machine, Meriton.

But there was one moment when the hardened Triguboff gave a small glimpse into the turmoil that he buries deep inside. It was 1994 when Triguboff was aged 61, his wealth and fame as “High Rise Harry” well established.

In front of 800 pupils at Sydney’s Moriah College, he took the podium at the first school assembly in the Moshe Triguboff Auditorium, newly built with his money. A small article published in Australian Jewish News captured the scene.

“Standing in Moriah College’s new modern auditorium bearing the name of his father, benefactor Harry Triguboff was almost lost for words,” the article began. “Choking with emotion, he paused several times, saying it was hard for him to speak at all.” The article did not pry into the cause of Triguboff’s tears, and he has never felt the need to publicly explain what happened. Until now.

Here, told for the first time, is the story of the Kafkaesque nightmare inflicted on Harry Triguboff and his family. Having fled China after World War II, Harry and his brother, Joseph, spent two decades pleading for visas so their parents could live with them in Sydney. But their pleas were rejected. Their mother, Frida, died in 1966 followed by their father, Moshe, less than a year later. He had no relatives in Israel and was alone when he died.

The reason they were refused visas remains hidden, but it almost certainly concerns allegations of wartime collaboration by Harry’s father with the Japanese.

Indeed, if the Immigration Department had its way, Harry Triguboff would never have become an Australian, let alone one of its richest men. They tried to stop him, when he was 14 years old, from fleeing here from China in 1948 and considered deporting him and his brother after the pair slipped past border authorities.

In a Sydney restaurant in 2017, Triguboff is seated at a discreet table in his business attire of jacket and tie drinking a scotch. The conversation turns to the time of his father’s death and that moment 27 years later at Moriah College. “I didn’t cry at the time. I cried all those years later, that’s when I cried,” he says. “Interesting how the mind works.”

Not one to seek sympathy

Harry Triguboff is not the type who ordinarily seeks public sympathy. Having started his business at the age of 30 in 1963 with a block of eight units in Sydney’s inner south, he has built more than 75,000 apartments, along with a fortune estimated at $11.4 billion. He is Australia’s second-richest person. He almost went broke in the 1970s, and vowed never again to be so reliant on banks.

*He pioneered selling apartments to the Chinese – a business strategy that would prove to be a stroke of genius. He has fought and won against bureaucrats and planning ministers, waged court battles against rabbis for control of Sydney’s Yeshiva Centre and beaten off bowel cancer. The architectural quality of his buildings has been attacked, most famously by Paul Keating, and his tactics as Australia’s largest landlord have landed him in court. Yet even at the age of 84, he is still in complete charge of Meriton, his work ethic driven by a relentless desire to win in the game of business.

But the story of his family also points to a desire to stay a step ahead of the arbitrary hand of fate, and never knuckle under to petty bureaucrats and politicians.

Former NSW premier Nick Greiner has known Harry Triguboff since the 1970s, when he worked for his father’s company which built roofs for Meriton apartments. Greiner says he only ever knew vague details about Triguboff’s time in China and nothing about his father’s problems. “Having heard the story I think it explains a lot,” he says. “Someone with that background would have a healthy disrespect for authority and government.” *

Until now, Triguboff has even shielded his own children from the truth. “It makes me feel sad to read what you found,” says Harry’s older daughter, Orna Triguboff. “It was certainly an injustice that I never got to know my grandparents. The few times I have seen Dad tear up were all to do with him remembering his parents not being allowed to be with us in Australia. They would have died in the Chinese civil war had it not been for the state of Israel being created and I think that is a big reason Dad is a supporter of Israel,” she says. *

“For someone who has been so very successful in his life, accomplishing what so many have not been able to do, he was not able to arrange his parents to live with us. It’s very sad. Dad is fiercely passionate about all the family staying in Sydney, always saying it’s the best place on earth. Maybe part of that passion is knowing the pain of separation when family members live far apart.”

*The story arcs across the horrors of Japan’s invasion of China, the Communist takeover, the creation of the state of Israel, the contradictions and prejudice of Australian immigration policy over two decades and an English-Canadian-Jewish adventurer who has inspired three Hollywood movies.

*It is detailed in a 300-page dossier from the Department of Immigration, held in the National Archives. Having already known the story’s bare bones, I unearthed the dossier in 2011 and sent it to Triguboff in an attempt to get him to talk. He invited me to lunch and shared a few reminiscences but declined to participate in an article.

Six years later, I tried again and the two of us met for lunch at his favourite Italian restaurant. Suspecting he would once again brush me off, I began my pitch. He quickly interrupted, and said in his abrupt and direct manner of talking:

“Turn on the tape recorder.” The 84-year-old drank two neat scotches while we talked. We spoke mostly in English, but sometimes we talked in Russian, which is a family language for both of us.

Growing up in Tianjin

Triguboff says the treatment of his father was “100 per cent an injustice”. James Brickwood

Harry Oskar Triguboff was born in China in 1933 and spent his childhood in Tianjin, a port near Beijing that China had ceded to the European imperialist powers in the 19th century. His father had fled the anti-Semitism of Tsarist Russia and moved to China in 1916. In Tianjin the Triguboff family lived on the shabbier fringe of the British and American concessions. Moshe had a store that traded woollen cloth, silk, leather, anything to turn a buck. Harry remembers his father had trouble paying the rent and he slept with his older brother Joseph and his Russian nanny in the same room.

The Chinese outside the concessions were in a different world altogether. Harry remembers seeing Chinese day labourers lugging sacks of grain up gangplanks on to barges. And then he watched as even poorer Chinese sneaked up behind them, cut holes in the sacks, and collected the grain as it seeped out to try to feed themselves.

When Japan invaded China in 1937, the British and American traders were mostly left alone in the confines of their concessions. But after their attack on Pearl Harbour in 1941 and the invasion of British Malaya, the Japanese placed the British and Americans into internment camps.

Russians like the Triguboffs, however, were largely left alone. The Soviet Union shared a border with Manchuria, which had been seized by Japan, and the Japanese were careful not to provoke Moscow.

*With the British and the Americans out of the picture, the Triguboffs and other Russians seized the opportunity to take over trade in and out of China. Moshe established four more stores and put much of his wealth into building. Harry was taken to watch construction of some of the 20 apartment properties his father acquired around Tianjin.

*The Triguboffs bought a bigger house with separate rooms for the children and a car, which Harry says could drive only at walking pace because the Chinese still ambled down the narrow streets.

As a child, Harry only glimpsed the war occasionally. When taking the train back from the sea resort at Beidaihe, where his family spent the summer to escape dust storms, Harry noticed that instead of tourists the carriages were filled with coffins carrying the bodies of Japanese soldiers for burial back on the islands of Japan. He saw many, many coffins.

After Japan surrendered in 1945, the Guomindang Nationalists under Chiang Kai-shek took back control. This was good for business, too. Moshe started exporting leather and pig bristles used to make brushes to the US department store Macy’s.

But in early 1946 the Triguboffs’ wartime idyll suddenly became a massive liability. The returning Guomindang were suspicious of Moshe’s wealth. The District Court of Tianjin and the British-run Customs Bureau seized all of the Triguboff shops and warehouses. Then six months later, in September 1946, the High Court of the province of Hebei arrested Moshe Triguboff and charged him with treason for collaborating with the Japanese.

Some of the Triguboff family files contained in a 300-page dossier from the Department of Immigration, held in the National Archives and recently released.

Harry, then 13, remembers the daily visits to take food to the fairly comfortable jail where his father was imprisoned. The charges against his father, he says now, were simply an attempt by the corrupt Guomindang government to extort cash. But his father refused to pay up because he was innocent. “I remember it like now,” he says. “I said, ‘Father don’t be stupid. They want money from you, what do you care …The more innocent you are the madder they get.'”

Dealing with the Japanese

He can remember one piece of business his father did with the Japanese that made him a small fortune in late 1941. When Britain declared war on Japan, the Japanese seized textiles owned by British merchants that were in bonded warehouses. The Japanese military needed a distributor to sell the textiles throughout northern China. Harry went with his father to the Jewish community hall near their home to try to raise the money for a down payment to the Japanese.

The incident demonstrates how closely Harry followed the business affairs of his father, even at this young age. It also shows how his father was keen to take calculated risks.

Harry was only vaguely aware of the actual charges against his father until he was shown a translation of Chinese court documents in the 300-page dossier. They show Moshe was alleged to have sold leather goods cheaply to the Japanese Army as well as selling scrap metal to the Japanese government.

Moshe was convicted on first instance and then appealed. The case was transferred to the High Court in Nanjing, then the capital of the Guomindang government.

*In October 1947, Triguboff was acquitted after the court found that the leather and scrap metal had been confiscated by force. The Japanese had made a nominal payment for the leather, but paid nothing for the scrap. It was not collaboration, the judges held. All charges were dismissed and Moshe Triguboff was released. The family started making plans to leave China.

But it left a stain, one that would later be exploited, Harry believes, by an English-Canadian adventurer of Jewish origin, known by the nickname Morris “Two Gun” Cohen. The consequences would torment the Triguboff family for the next two decades.

A Jewish gun slinger

Morris “Two Gun” Cohen was one of the more bizarre characters in the drama that consumed China in the middle of last century. His life has inspired three Hollywood movies, including one in 1936 called The General Died at Dawn, in which Cohen was turned into an Irishman and played by Gary Cooper.

More of the secret Triguboff family files including, left, one of many attempts of the boys trying, in 1952, to bring their parents to Australia. The visas were cancelled at the last minute.

As the name suggests, Two Gun Cohen was both Jewish and a gun slinger. After a life of petty crime in England then Canada, a 1997 biography says Two Gun headed to Guangdong in the 1920s, where he became the trusted bodyguard of Sun Yat-sen, the founder of the Guomindang Nationalist Party. After Sun Yat-sen died, Two Gun continued to use his connections to run guns to various warlords and conduct business, often with Jewish merchants in the treaty ports of China.

When Moshe Triguboff was arrested, associates in Shanghai recommended he seek Two Gun’s assistance. Harry remembers Two Gun coming to live with his family in their Tianjin home while his father was in jail. A thank-you letter from Harry’s brother, uncovered by Two Gun’s biographer, suggests Two Gun helped Moshe by convincing the authorities to transfer his case from Tianjin to Nanjing where it could get a fairer hearing.

But Two Gun fell out with the Triguboffs over money. The family could not pay the sizeable reward that he believed he’d been promised upon Moshe’s release.

By late 1947, the Communists were at the gates of Tianjin and Moshe found it it was impossible to sell his properties. His problems would become a childhood lesson for the young Harry in timing the real estate market. “He tried to sell what he could,” Harry says. “The reason he lost the big chunk [of his fortune] was because they made him problems straight after the war. He tried to get it out of China. Every door was all locked for several years when he was in prison. It killed him. He missed the boat.”

‘Vindictive allegations’

Harry says Two Gun was paid “something” but he was bitter. Eventually, Harry and his family would come to believe that Two Gun took vengeance by denouncing his father to diplomats based in China. These “vindictive allegations”, Harry and Joseph believed, were passed along to Australia and were the reason why his parents could not obtain visas to move to Sydney.

The truth is still hidden inside the National Archives. About 15 pages of the 300-page Triguboff file, in which Australian officials detail allegations against the family, have been redacted.

When asked to reconsider and open up the whole file, David Bell, the acting assistant director of the National Archives, refused on grounds that disclosing the material could threaten Australia’s access to intelligence from other countries and its release could cause distress to members of the family.

The first part of that explanation – that disclosure might threaten intelligence from other countries – supports Harry’s belief that Two Gun, who worked for British and Canadian intelligence during the war, was the source. The second part of the explanation is probably true.

*One letter that survived redaction is from Alexander (Alick) Downer, immigration minister in the early 1960s and father of the prominent Howard-era cabinet minister. In jarringly unofficial language, Downer wrote that the reports indicated Moshe Triguboff was an “unsavoury character”. It is the one line in the 300-page dossier that even today visibly distresses Harry because he finds it so unfair.

Harry and Joseph in Sydney.

Refused by Canada and the US

*The Triguboffs were refused visas for Canada and the United States, which had strict quotas on Jewish immigrants. But they had obtained landing permits for Australia back in 1946 when the country had an open-door policy to Jewish refugees.

*By early 1948, however, Australian policy had changed and a family of rich Jews carrying Soviet passports and facing allegations of collaborating with the Japanese were not the migrants Australia was looking for.

In postwar Australia, Jews were tarred with a mix of old-fashioned anti-Semitism and suspicion they were either communists or Zionists attacking British forces in Palestine. Things came to a crisis in January 1947 when an old ferry called the Hwa Lien docked in Sydney carrying 300 stateless Jews from Shanghai.

Sydney’s The Sun newspaper claimed that criminal syndicates run by communists had backed the Jewish immigrants and hinted that Jewish refugees had collaborated with the Japanese. The Sun editorialised: “The danger of infiltration by professional trouble makers, whether Jewish terrorists or Communist agents, will arouse the natural suspicion of all who wish to see Australia kept Australian.”

Arthur Calwell, Australia’s immigration minister following World War II, was a champion of mass migration (although famously within the confines of the White Australia Policy) and had initially been sympathetic to the plight of Jewish refugees. He let the Hwa Lien unload its passengers. But in the heated aftermath he quietly imposed a secret quota on the number of Jews who would be given entry on any future migrant ships.

This was the political background when, a year later in March 1948, the Australian consul in Shanghai, O.W.C. Fuhrman, sent an urgent cable in code back to Canberra: Harry and Joseph Triguboff had left Tianjin three weeks earlier, were on their way to Australia and must not be allowed to land. (Their parents had sent the boys to Sydney while they finalised their affairs, and planned to follow.)

*Fuhrman said he had learnt that Moses Triguboff was worth $US3-4 million and had transferred much of it to the United States. He was deeply concerned about the Triguboffs’ alleged ill-gotten riches and in the next few months got Australian officials to check how much money they had transferred to Australia. It was only 8000 Australian pounds.

Hostility to Jews

For the Australian Jewish community, Fuhrman would became a notorious character due to his hostility to Jews from China. He wrote a report around this time warning that the Jews of Shanghai, where the Japanese had set up a ghetto, were an “enigma” who were involved in prostitution and drug running. If Two Gun levelled accusations against Triguboff to Fuhrman, he would have got a very good hearing.

His urgent cable, in Harry’s mind, is evidence that Two Gun was the cause of his family’s problems. Who else would have taken the trouble, he asks, to warn the Australian consulate in Shanghai that a 14-year-old and a 23-year-old had just left Tianjin bound for Australia. “Who else would be interested?” asks Harry. In any case, the secretary of the Immigration Department in Canberra, Tasman Heyes, personally took charge of the matter. He dispatched a flurry of classified telegrams to Sydney, Darwin, Brisbane and Hong Kong to keep an eye out for the young men.

One-time bodyguard of Dr Sun Yat-Sen, Morris “Two Gun” Cohen.

“Please advise urgently whether they have landed your port. If not please advise all airlines that they should not be accepted as passengers and that if they come to Australia they may be restricted from landing,” the telegram said. But the wheels of bureaucracy moved too slowly. A few days later, word came back that Harry and his brother had already landed in Darwin and then been waved through customs in Sydney.

The presence of the two youths raised a problem familiar in today’s Australia of what to do with unauthorised arrivals. Heyes floated and rejected the idea of deporting them as impractical. He devised another idea: split up the family to convince the two brothers to leave.

“As the Chinese Authorities do not permit Europeans to return to China, it is most unlikely that it would be possible for us to enforce the departure of the two sons (Joseph and Oskar) Triguboff but if their parents are prevented from coming here they may eventually leave the Commonwealth,” Heyes wrote in July 1948.

Harry starts year 10

All of this was unknown at the time to Harry, who started year 10 at Scots College in Sydney’s eastern suburbs. Joseph enrolled in the law faculty at the University of Sydney. Harry remembers feeling proud that when he arrived at Scots College the teachers put him up half a year because he was quick at maths.

Back in China, the situation for Moshe and Frida was growing ever more urgent. They had moved to Shanghai as the Communists got closer to Tianjin. From Shanghai they cabled Joseph to send some final documents that Australian consular officials in Shanghai demanded. On August 10, 1948, Joe walked into the office of the Department of Immigration in York Street, Sydney. It would be his first step into the bureaucratic labyrinth where his family was stuck for the next two decades.

*The immigration official told Joseph his parents could not come to Australia, but would not say why.

“Mr J. Triguboff was insistent that I should give him the reasons for the refusal of permission of his parents to enter Australia,” the official wrote in a one-page memo. “I did not acquaint him with the reasons for the withdrawal of authority for the admission of his parents.”

The Triguboffs were growing desperate. Moses had taken a Soviet passport, the only document he was entitled to as a Russian national, but he risked being repatriated to Stalin’s Soviet Union. The Chinese Communist victory was only months away.

Harry with his parents in Israel in the 1950s. (Photo)

Lobbying the minister

In late 1948 the Triguboffs tried to pull all the strings they could.

With support from a prominent member of the Jewish community, Joseph secured a meeting with Calwell in October and handed him a long memo which appended an English translation of the judgment of the Nanjing Court to prove that his father had been cleared of collaboration.

“The family is now broken up which may mean the separation of the two sons from their parents for life as the former cannot return to China. This would be a particularly tragic blow for the younger son, (Harry) Oscar, who is aged only 14 and is missing his parents greatly,” he wrote.

In December, Joseph wrote again: “As you are aware the position in China is steadily becoming more desperate day by day and this separation may result in my younger brother (who is just 15 years of age) and myself never seeing our parents again as the previous decision reached well-nigh condemns my parents to death. Please for the good of humanity be good enough to grant my parents the entry visa saving the whole family.”

Harry went to school and concentrated on his studies but he felt the uncertainty. “We were scared of [our parents] getting stuck there.”

Then in early 1949 the post office called to tell him there was a telegram waiting for him from a place he had never heard of, called Ramat Gan. He walked to the post office in Bondi Junction in Sydney’s east and asked the postal clerk where Ramat Gan could be. The postal clerk did not know either.

As he read the telegram, Harry realised that Ramat Gan was a suburb of Tel Aviv. Barred from Australia, and fearful of returning to Russia, the newly independent state of Israel was the only country to which they could turn. “That is the first time I knew that they got out,” Harry remembers. His parents were safe, but they were on the other side of the world.

Australia or Israel?

“Please … allow them to enjoy their grandchildren in Australia. Perhaps you are a grandfather yourself,” Triguboff wrote in a letter to immigration minister Alick Downer in 1963. (Photo: James Brickwood)

For the next 17 years, Harry and his brother faced an agonising choice of staying in Australia, where they felt at home, or moving to be with their parents. Harry finished Scots in 1950 and then decided to move closer to Moshe and Frida. He went to Leeds in England to study textile engineering, visiting his parents in Israel every summer. He joined his family in Israel in the 1950s for a few years but did not fit in. Neither did his brother, who had changed his surname from Triguboff to Travers to sound more Australian.

In 1959 the pair left Israel and after a brief stint in South Africa returned to Sydney. When told he could not obtain an Australian passport, Harry protested that he had lived in Australia and gone to Scots College. Immigration officials said if he obtained a letter from the headmaster they would give him a passport. “Thank god he was still there and he remembered me,” says Harry. He became an Australian citizen in 1961.

Joseph, a lawyer, wrote a flood of letters to every new minister or local MP in a bid to reunite the family. Adding to Harry and Joseph’s sense of frustration, Australia had reopened diplomatic relations with Japan and embraced many figures responsible for Japan’s wartime atrocities.

*The normalising of Australian-Japanese relations was a point used by Harry when he made his own attempts to obtain visas for his parents in 1963. If nothing else, the epic struggle had taught him the art of working the bureaucracy.

*“My poor brother was writing these letters. It got him nowhere,” Harry says. “I thought enough’s enough. I told him I’ll do it my way.” Harry called the offices of the Australian Secret Intelligence Service in Melbourne and left a message in his Russian accent hinting that he had some information about some Soviet spy.

He says the ASIS agent who called him back “thought I wanted to dob someone in. So he met me, a nice big fellow. Lovely guy. I tell him, look I didn’t come for what you think. I have this problem with the father. He was a very nice guy. He said, ‘leave it to me, I’ll find out.'”

Lobbying a new minister

Harry wrote to then immigration minister Alick Downer describing his conversation with the ASIS agent with a supporting letter from Les Bury, the member for Wentworth. He claimed the agent had said “our relationship with Japan had undergone a drastic change and that whatever dealing my father had at the time of the war with Japan it was no longer of any vital importance to the security of Australia”.

Harry and his brother faced an agonising choice of staying in Australia, where they felt at home, or moving to be with their parents.

Harry then added: “For 16 years now, my brother and I have been pleading with the Immigration Department to allow our parents to settle here. Our parents were definitely cruelly treated by fate … Please allow us, their sons, to give them this small gift – to allow them to enjoy their grandchildren in Australia. Perhaps you are a grandfather yourself.”

*It was all to be of no use. The issue of collaboration with the Japanese was a difficult one for Downer, who had been a prisoner of war in Changi 18 years before. This was when Downer, in a letter marked confidential addressed to Bury, explained he would never let Triguboff in.

“The detailed reports indicate that Mr Moses is an ‘unsavoury character’,” he wrote. (Downer Junior told the AFR magazine that he believed his late father was acting ‘with a good heart’).

*Harry’s mother died aged 58 on May 26, 1966. Two days later his brother wrote again to the new minister Hubert Opperman. “We are most apprehensive that [our father] is losing his will to live.” Harry, 32, flew over to meet his father, who was sitting unshaven as is traditional in the Jewish religion after a death in the family.

To this day Harry deeply regrets that during that trip he took too much time out to see some of his old friends from his years in Israel. It would be the last time he would see his father. “There are many things that I did in life which I was sorry for. I was sorry that I didn’t spend more time with him,” he says.

*Just six months later on February 20, 1967, The Sydney Morning Herald published a small notice that Moshe Triguboff had died, mourned by his two sons Harry and Joseph.

*Another six months after that, another notice appeared in the classified section of The Sydney Morning Herald. It was an advertisement for “Harry Triguboff and Co”, the company that would become Meriton. The ad read: “Cash for your flat site: Builder wants centrally located flat sites. All suburbs.” *

A secret til now

In four decades in the public eye Harry has barely spoken two sentences about this story. Every history of Australia’s second-richest man glides past this chapter of his life. But I always knew the bare bones. My father, also a Russian-speaking Jewish migrant, was close to Harry, especially in the early 1960s when my uncle and Harry were partners in a taxi licence. Harry, working his day job as a textile engineer, was living in a rented house with his first wife, Hanna, and two young children in Kensington in south-east Sydney. He would come to my uncle’s on the weekend to count the fares.

On a trip to Israel in about 1965 my parents met Moshe Triguboff shortly before his death and they later told me about his plight. While the story was known in this small circle I believe Harry was still deeply embarrassed about his past, because he was not sure how the allegations of collaboration might be received. I mentioned it to a Financial Review journalist who wrote a profile of Harry in 2005. Harry refused to talk about it and told the journalist to “clean out his ears”.

*After sending him the 300-page dossier and being rebuffed in 2011, I resolved to let Harry take his secret to his grave. Then in May this year I was surprised when, apparently unprovoked, Harry mentioned in an interview to another colleague that immigration officials had refused his father entry. “As far as they were concerned, he was co-operating with the Japanese in the war,” he said. “He was selling textiles. It wasn’t as if he was selling guns or something.” *

I asked him if it was finally time to tell his whole story. Five months later, when he agreed to fill in the gaps, I asked him whether he thought the Australian government had wronged his family. “Was that an injustice?” I asked.

Is there justice?

He says the treatment of his father was “100 per cent an injustice”. But then, in a sharp break from his usual rapid-fire delivery, he paused as he tried to find the words. “I suppose I don’t think there is justice. Worse, I am sceptical.” For Harry Triguboff, what is just depends on where someone is sitting.

Harry is his father’s son and is unapologetically proud of Moshe’s achievements and smarts. Even now, his closest friends in Sydney are Jews who fled from Tianjin, like him. He laughed telling me stories of how Moshe escaped from Tsarist Russia and his travels in China which clearly inspired him. He wants to defend his father’s memory.

One thing that still stings: he is reluctant to concede that he came to Australia with money. He insists repeatedly that the claims of his family’s millions were exaggerated. They had money, but not a lot.

In an odd transition he then launches into an attack on politicians and planners who obstruct his apartment blocks citing reasons of high policy. They apparently remind him of the sanctimonious Australian Immigration Department officials who fobbed his family off for decades. He says they take decisions based not on common sense but on what will win votes or just because they want to “cover” themselves.

*And so in an obscure transference, every time he fights and wins a battle over building apartments it is partly a way of getting even.

Australia’s second richest man was almost stopped from fleeing from China to Australia in 1948 by a government decision that split his family forever.


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Harry Triguboff on the cover of the Summer issue of AFR Magazine. James Brickwood

SOURCE: https://www.afr.com/life-and-luxury/harry-triguboffs-dark-secret-the-19year-struggle-that-split-his-family-20171102-gzdgy8





Change of tack for metro station development on Sydney’s north shore

Labor’s transport spokesman, Chris Minns, said the suggestion that the procurement package had been separated after “noting community concern seems particularly far-fetched … “

-based on the major developments lumped on other Sydney communities after NSW Government unilaterally rezoned the planning over train lines

-that the government should release the number of parties interested in the integrated station development

ARE Australians being forced ‘to get out of the way for a laundromat for a global city awash with black money’ for ‘One Belt One Road’ … cough … cough … ?

For ever more high-rise residential apartment precincts for foreign buyers from China and Hong Kong? The Metro is to run from Chatswood, under Sydney Harbour to central Sydney and on to Bankstown.

CHATSWOOD, a city in the middle of nowhere being built by the Chinese Communist Party … from David Lee, a GeoPolitical Strategist ..

VIEW this explains what it is all about! Then Share!


Change of tack for metro station development on Sydney’s north shore

Matt O'Sullivan
By Matt O’Sullivan

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The NSW government has split plans to construct a new metro train station on Sydney’s north shore from the development of towers above it, in the wake of widespread opposition from locals.

The government ditched a tender for an “integrated station development” at Crows Nest last year and has since opted for a “construct-only package” for the new train station, leaving the scale of the buildings set to emerge above it still to be finalised.

The rationale for “integrated developments” is that offices, shops and apartments help to subsidise the cost of the train station below, which can run into the hundreds of millions of dollars.

An early concept plan of the development above a new metro station at Crows Nest.
An early concept plan of the development above a new metro station at Crows Nest. CREDIT:TRANSPORT FOR NSW

The change of tack at Crows Nest comes as a recent report by the NSW Audit Office shows that the state’s lead transport agency suffered a $258 million loss on integrated station development agreements for metro lines in Sydney in the year to June.

Transport for NSW declined to reveal how many bids it received last year for the integrated station development at Crows Nest before it scrapped the tender.

It said that separating the construction package at Crows Nest allowed the station to “progress while the NSW government considers community feedback about the development above the station”.

*But Labor’s transport spokesman, Chris Minns, said the suggestion that the procurement package had been separated after “noting community concern seems particularly far-fetched”.

*“Other suburbs across Sydney have not been so lucky with major developments lumped on their communities after the government unilaterally rezoned the planning over their train lines,” he said.



The underground cavern for the new metro station at North Sydney.

Deep dilemma for engineers designing giant metro cavern under North Sydney

While the transport agency declined to reveal the level of interest last year in an integrated development, it recently announced that it had shortlisted three companies – AW Edwards, CPB Contractors and Laing O’Rourke – for construction of the Crows Nest station.

The early concept plans for the development above the station had included two towers of up to 27 storeys, a 17-storey hotel and conference centre, and an eight-storey commercial building.

The vast majority of about 670 submissions from locals and councils were opposed to the plans.

North Sydney Council urged the government to “take on board” concerns about the size, height and overshadowing that had been previously raised about the development above the station.

The station will form part of a metro rail line budgeted at $12.5 billion which will run from Chatswood, under Sydney Harbour to central Sydney and on to Bankstown.

*Martin Locke, an adjunct professor at Sydney University’s Institute of Transport and Logistics Studies, said the number of companies interested in bidding to develop both the station at Crows Nest and the buildings above was likely to be “constrained” because a unique skill-set was required to do both.

However, he said separating construction of the station from the development above it would help widen the field of companies interested in bidding on either contract.

Mr Locke said integrated station developments were a way to help partly pay for the cost of a railway but were likely to be confined to central Sydney, North Sydney and Parramatta.

“They can only be pursued where the airspace property development rights are really valuable. This requires density and scarcity. Otherwise, developers are going to be disinterested,” he said.

Play video1:49Tunnel boring machines breakthrough i North Sydney

Young girl drowns in Guilderton

NSW Premier Gladys Berejiklian and state transport minister Andrew Constance speaking to media in the tunnels of the North West Metro project in North Sydney about the breakthrough at what will become Victoria Cross station.

Tunnel boring machines breakthrough in North Sydney

Matt O’Sullivan

Matt O’Sullivan is City Editor at The Sydney Morning Herald.

SOURCE: https://www.smh.com.au/national/nsw/change-of-tack-for-metro-station-development-on-sydney-s-north-shore-20191125-p53dw2.html





Goodbye Detached Family Home … Hullo Super Apartments … How Australians are being Manipulated for Multi Generational Apartment Living

IS the detached house shrinking due to inflated prices due to foreign ‘hot money’ competition?

ANOTHER consequence being lot sizes can now be a third of the original quarter acre lot ‘downsized’ for the Greenfields Housing Code of 200M2 X 6M wide

-however some new project homes are very large occupying most of the land site to house the ‘Family Visa’ extended family

Australians are now housing their families locked out of the housing market in the ‘family home’ of some 40, 50, 60 years

.is this a consequence of the Visa Worker invasion; lowest wages growth for 60 years; insecure contract work?

.the rise of multi-generations in the ‘family home’ means more wear and tear; a personal sacrifice with child minding

.a consequence of the Big End of Town manipulation to fill their coffers

-are the new ‘Permanent Residents,’ members of the CCP buying the ‘new homes’ including attached, and detached with granny flats to house their ‘Family Visa’ extended families?

WILL quality builds be enforced in time? Imagine the cost of the LEVIES and the SINKING FUND for Super defective towers …

Goodbye detached family home – hello ‘super-apartments’: how Australians are embracing multi-generational apartment living

It has been widely reported this year that the average size of the Australian detached house is shrinking, which is a particularly interesting statistic when you consider the fact that multi-generational living is becoming far more popular in Australia.

This begs the question – if houses are shrinking, how can all of these cohabitating, multi-generational families still fit comfortably in their homes? 

While Australian house sizes are indeed shrinking, apartment sizes are continuing to increase. In fact, the Point Piper Estate that previously held the title for Australia’s most expensive residential property was toppled this year by a Sydney harbourside apartment.

The $140 million price tag of the ‘One Sydney Harbour’ mega-penthouse – a bonafide ‘super-apartment’ – vastly eclipses last year’s $100 million sale of the Point Piper estate, proving that apartment living is becoming increasingly popular at all levels of the property market. 

Families are starting to see the benefits of apartment living

CAAN: Is that because there is little else within a reasonable distance of the CBD workplace?

AD: and a number of new residential development projects have been designed precisely with this in mind. In addition to embracing the apartment lifestyle, living with extended family members is also becoming favoured around the country, so it makes sense that the two concepts are being combined – sparking the rise of multi-generation friendly ‘super-apartments’. 

The many positives of multi-generational living, such as split costs, free child-care and having your family close by are quoted as some of the key factors as to why the practice is becoming more prevalent.

CAAN: With the new ‘Permanent Residents’ and a culture of ‘Prosperity’, isn’t it more about saving on child-care costs and house cleaning … so they can get on with developing their business?

Many forward-thinking developers predicted this growing preference amongst Australian families, since multi-generational living has already been embraced for many years in other cultures, particularly in closely neighbouring Asian countries. 

CAAN: Would such developers be the Urban Taskforce and Property Council of Australia? … And their Ilk … that by building little else and particularly targeting the wealthy Chinese market (1.4 Billion of them) that they ensured a preference for apartments?

AD: Amenity-rich apartment living is often a great option for families looking to embrace a cohabitational, multi-generational style of living in Australia’s capital cities, and developers have begun to adapt their apartment development designs accordingly. 

The Landmark in Sydney not only offers breathtaking vistas of Sydney Harbour, but also a plethora of resort-style amenities including a sauna, kids play area, piano room, virtual golf, cinema, library, lounge and dining room – making it ideal for family life. Oversized apartments provide a great opportunity for adult children to welcome living with their parents again, creating a perfect home for grandparents, parents and children to thrive in. 

CAAN: Go figure the cost of the Levies! And the sinking fund

The Landmark kids play room
The Landmark kids play room

Melbourne Square, situated in perfectly-connected Southbank, also boats a number of ‘super-apartments’ and amazing amenities ideal for family life, with many residents purchasing more than one property in order to create the perfect home for multiple family members. One purchaser at Melbourne Square bought six apartments on two floors, creating 3 large 3-bedroom family residences – one for him and his wife – another for his adult daughter and a third for his adult son’s family with two young children. 

Melbourne Square penthouse kitchen
Melbourne Square penthouse kitchen

The Catalina in Surfers Paradise offers large 3 and 4 bedroom apartments and penthouses suitable for families looking for impeccable design and a hyper-convenient lifestyle. The development has created an affordable price point for families who may not have otherwise been able to afford the exclusive Chevron Island address, not to mention enviable resident amenities such as a pool, BBQ areas, a fully equipped gym and cinema. 

The Catalina outside entertaining space
The Catalina outside entertaining space

By moving into these luxurious ‘mega-apartments’, many families gain access to facilities and amenities that they may not have had in their traditional, detached family home. The option to customise floorplans and combine multiple properties makes multi-generational living even more achievable and enjoyable. 

SOURCE: https://www.apartmentdevelopments.com.au/buying-living/lifestyle/goodbye-detached-family-home-hello-super-apartments-how-australians-are-embracing-multi-generational-apartment-living?utm_source=ApartmentDevelopments.com.au&utm_campaign=f67b6e7a60-APD_Newsletter_VIC_Sun_29.12.19&utm_medium=email&utm_term=0_89b860427f-f67b6e7a60-263112251





Exposing the Growth Lobby behind A BIG Australia

Exposing the ‘growth lobby’ behind a Big Australia

November 9, 2018

Recommend view:  22 comments

By Leith van Onselen in Australian Economy

By Leith van Onselen

Former public servant and consultant, Stephen Saunders, is the latest to demolish the ‘growth lobby’ underpinning Australia’s mass immigration ‘Big Australia’ policy:

The groupthink begins with the three main political parties. With varying emphases, all celebrate big Australia for its “jobs and growth”, and for “multiculturalism” or rejection of racism

By default, the Treasury is our key population agency.

To help perpetuate the 27-year “miracle” in GDP growth, it limns (describes, depicts or highlights) each federal budget with high net overseas migration and high population growth.

The Reserve Bank, unlike the Productivity Commission, pushes the supposed demographic rejuvenation from high migration

Most thinktanks side with big Australia. Industry and property groups also welcome more migrants. They dampen training and wage demands, and deliver more consumers and profits

The growth lobby patronises the lived experiences of ordinary Australians… stretched infrastructure and services, stalled wages and severe housing unaffordability, heightened inequality and urban congestion…

The vibrant city plans! Never mind if these “plans” cram 8 million people into Sydney and Melbourne, and nearly 4 million into Perth, by the middle of this century…

The growth lobby has buried Australia’s deliberations on carrying capacity.

It discounts scientific warnings in Australia’s five-yearly State of the Environment reports…

Under big Australia, future gains to the few (or older) look more assured than gains for the many (or younger).

A truer word has never been written.

The sad reality is that incumbent Australians are being forced to sacrifice their quality of life in order to make room for an endless influx of migrants, brought in purely to feed the ‘growth lobby’ of property industry rentiers, banks, retailers, and other big businesses.

We are continually sold on the ‘benefits’ to headline growth, while the huge environmental and social costs are ignored.

Australia needs a revolution.


Leith Van Onselen

Leith van Onselen is Chief Economist at the MB Fund and MB Super. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

SOURCE: https://www.macrobusiness.com.au/2018/11/exposing-growth-lobby-behind-big-australia/#comments






Political warfare: Dave Sharma’s call to arms

Dave Sharma says Australia could learn from Israel’s ‘intelligence-driven disruption operations. Picture: Jane Dempster
Dave Sharma says Australia could learn from Israel’s ‘intelligence-driven disruption operations. Picture: Jane Dempster

Liberal MP and former ambassador to Israel Dave Sharma says Australia must be prepared to wage “political warfare” to protect the nation’s sovereignty, and ­develop offensive intelligence capabilities to destabilise foreign adversaries.

Amid warnings of surging foreign interference in Australian ­institutions, Mr Sharma says Australia should draw inspiration from the “intelligence-driven disruption operations” of Israel’s shadowy intelligence service, Mossad.

Writing in The Australian on Monday, Mr Sharma says Australia faces a “sustained political warfare threat” through electoral interference, propaganda and the acquisition of key assets, and needs new tools to expose and ­exploit the vulnerabilities of its ­adversaries.

“In particular, we need to consider developing not just defensive capabilities, but also offensive capabilities, so that we give our ­intelligence and other agencies not just the tools to defend, but also the means to respond,” he says.

“The usual practitioners of ­political warfare, authoritarian ­regimes, are themselves highly vulnerable to political warfare. We should develop the capabilities to take the fight to them in this ­domain, even if only to create ­effective deterrence.”

The member for Wentworth in Sydney’s east argues such tactics, also known as hybrid warfare and grey-zone tactics, “are becoming the new norm of statecraft”, and are “challenging the way we must think about the future of state contest”.

READ MORE:‘It’s time Australia defended itself’

The call follows a warning by former ASIO chief Duncan Lewis that “unprecedented” foreign interference — which analysts attribute almost entirely to China — poses an “existential threat” to Australian society.

That threat was dramatically ­illustrated by a cyber attack on the federal parliament in January, which the Australian Signals ­Directorate labelled a “national cyber crisis”. China was the prime suspect in that hack, as well as ­another on the Australian National University late last year.

The political warfare “tool kit” of authoritarian states includes misinformation, the exploitation of local politicians, interference in electoral processes, the discrediting of a nation’s institutions, and the exploitation of faultlines in ­societies, Mr Sharma writes. But he says Australia must respond “consistent with our values”, targeting adversaries’ absence of ­accountability, mistreatment of minorities, and a desire to tightly control information.

He notes the Panama Papers leak, which exposed corruption among Russian elites, was one of the most destabilising events of Vladimir Putin’s leadership, while revelations about the wealth of family members of Chinese leaders had been similarly destabilising.

“Shining a spotlight on bad ­behaviour and exposing corruption, human rights abuses, deception, and crude acts of statecraft is a powerful tool which can inflict serious damage on the stability and legitimacy of authoritarian ­regimes, hitting them where it hurts,” he says.

Security experts backed the push, saying a new approach was needed to meet the rising foreign interference challenge.

Australian Strategic Policy Institute executive director Peter Jennings said: “We need to be ­realistic that there is this hybrid warfare threat that is now being used, largely by China as far as our own interests are concerned, and we have got to be prepared to understand that and to counter it in ways that would be regarded as potentially quite tough.”

Mr Jennings said explaining the nature of the threat to the Australian public in clear terms — which successive governments had failed to do — was a vital first step.

He also called for a dramatic upgrade of the nation’s diplomatic network, and a boost to cyber capabilities.

Lowy Institute non-resident fellow Euan Graham urged new “offensive and defensive resilience” measures in the face of a “concerted and economically ­empowered challenge from the Chinese Communist Party”.

“A more refined national security and defence tool kit is needed, and a less reactive, more independent mindset,” Mr Graham said.

Mr Sharma’s call for a strategic rethink comes as US Cyber Command prepares to target senior Russian leaders ahead of the 2020 US presidential election by weaponising their personal and financial data, in a warning to the Putin regime not to repeat its meddling in America’s 2016 poll.

Britain is also integrating ­hybrid tactics, including cyber and information warfare, into its everyday operations under a newly ­restructured Strategic Command.

In Australia, Defence Minister Linda Reynolds and Chief of ­Defence Angus Campbell this year both acknowledged the need for a greater focus on hybrid warfare, with Senator Reynolds declaring: “It is vital that we be able to bring all of our sources of national power to bear on this problem, not just those of Defence.”

Both stopped short of setting out a strategy for Australia to ramp up such capabilities, but efforts are under way within agencies to ­incorporate political warfare tools.

The ASD has acknowledged it engages in offensive cyber operations to “disrupt, degrade and deny offshore adversaries who pose ­serious threats to Australia’s ­national interests”.

While Israel’s Mossad famously uses targeted assassinations to achieve its objectives, such as disrupting Iran’s nuclear program, Mr Sharma told The Australian he was not suggesting Australia undertake state-sanctioned killings.

But he said there was much to learn from the Jewish state’s pre-emptive intelligence operations, which had “formed a pillar of ­Israeli statecraft since its foundation as a modern nation”.


FOREIGN AFFAIRS AND DEFENCE CORRESPONDENTBen Packham has spent almost 20 years in journalism, working at Melbourne’s Herald Sun before joining The Australian as a political reporter in 2011. He rejoined the bureau in 2018 after almost four years in Pa… Read more

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SOURCE: https://www.theaustralian.com.au/nation/political-warfare-dave-sharmas-call-to-arms/news-story/6f629d834e09af6cda84e28aa126c960?fbclid=IwAR0HRFv5gT6eATTFKhGxF5wMKMBqEysnknAFYBhe8R-DNrH8cOxtZ6IlQoQ


JUST one of a number of Chinese Real Estate Papers … this paper was issued back in August 2019 …



Pick up a copy and have a look at these papers for yourself!

All Australian RE Agents appear to advertise properties for sale across Greater Sydney in Chinese Real Estate papers …

AND as one looks through this paper it is becoming increasingly apparent that there are a larger number of Chinese Real Estate Agents, Chinese Franchises of what were originally Australian Real Estate Firms, Chinese finance companies, project home developers, residential apartment developers, solicitors and migration agents, tax agents … than Australian companies …

Including among them are these …

-Successful Properties

-Cube Corp Belle Property CBRE HonerDodd Key Asset Real Estate Raine & Horne GCRE Elders Century 21 Leader Properties Richardson & Wrench Town & Country Estate Agents MP Investment CityHome Strata Management Macquarie Links J & J Realty Partners Ray White Combined Real Estate Australian Real Estate (?)

.Well it is until … it would appear Australian Real Estate is now our Biggest Export of what were Australian Title Deeds! Is this all part of Xi’s Plan … One Belt … One Road?

-LJ Hooker Dragon Realty C & R Realty International Savills BinetHomes McGrath Eastlakes Live by Crown Group included a promotion for Crown Development in Waterloo General Home Loans Killara Real Estate Active Real Estate Shead Tracy Yap Realty AusRealty Uniland Real Estate Showcase Realty J.C. Finance C&L Solicitors and Migration Agents Apex Finance & Mortgage Advantage Mortgage Solutions JurisCorLegal AquaMore Professional Loan Centre Pty Ltd Financial Solutions for Professionals Nodens Group 360 Estate Aussie Finance & Mortgage Pty Ltd NSW Finance Group Pty Ltd Ace Building Pest Solutions AuTaxDepreciation Zikira Properties … Real Estate Agency in Chatswood …

CHATSWOOD is a city in the middle of nowhere being built by the Chinese Communist Party … from David Lee, a GeoPolitical Strategist



Image may contain: 3 people, people smiling

SINCE the Housing and Migration/Visa Manipulation Boom that accelerated from about 2014/2015 whole Sydney suburbs have undergone a huge demographic change … Boomers sold up tempted no doubt by the ‘Hot Money’ … Black Money …

Back then with the investment of $1.5M in real estate Temporary Visa holders from China could gain a Permanent Resident Visa … that is no doubt what created the Boom!

Since then we understand investment has been extended to purchase of Australian ‘new homes’ to gain Permanent Residency … that’s for starters …

The market target was China with its high numbers of Billionaires, Millionaires and a burgeoning Middle Class eager to invest in Australia with the lure not only of parking their Black Money in our Real Estate … but Permanent Residency and Medicare benefits thrown in!

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Foreign property buyers from China and Hong Kong are not deterred by the alleged restriction of buying ‘new homes’ … there are ways and means of getting around that …

Georg Chmiel, executive chairman of Juwai.com, the global platform that markets overseas property to the Chinese market (on the mainland and in Hong Kong).

*“It’s more important to obtain legal residency. Expect to see wealthy Hong Kongers first renting in Sydney or at least waiting until they have obtained their visa before they purchase. That way, they can avoid the foreign buyer tax.



THIS beautiful Architect-designed home with river views, 5 bedrooms, 3 bathrooms and double garaging was sold PRIOR TO AUCTION in October 2019 … just shy of $2 Million … or was it more? We saw the Chinese buyers shake hands with the RE Agent out the front …

Image may contain: plant, tree, house, sky and outdoor

Another large home in the same area also sold PRIOR TO AUCTION in late November 2019 … we noted that the For Sale sign included details in Mandarin with a WeChat symbol!  

No prizes for guessing who bought the property …

And the result was Undisclosed …


CHINESE SYDNEY PROPERTY WEEKLY August 2019 … it is not only our Residential Property that is sought by Chinese buyers but they are flying in to buy our agricultural and COMMERCIAL Property!

APART from the MTR Hong Kong Consortium Sydney METRO replacing our heavy rail network … and connecting to CCP Chatswood … Power and Mines!


-office blocks

-healthcare, private hospital chains, retirement villages, nursing homes

-cafes, restaurants

-fruit markets, supermarkets, butchery, pharmacies, jewellers, tax agencies, professional practices including dentistry, medical, optometry, accountancy, postal services, fashion boutiques, hardware, real estate agencies, coaching colleges, childcare centres … and more!

WITH a further loss of the Jobs Market for Our Families …!!


Image may contain: 3 people, people smiling


WHY not ask your local MP when the Morrison Government will implement and enforce the Second Tranche of the Anti-Money Laundering Legislation?

BECAUSE until this legislation is enforced we will continue to lose all that was ours to China … no less!

IF this legislation was enforced it would help restore Our Economy … which is being eroded by transient Black Money!

IT would rid Australia of Black Money and …

-the PROXY Buyer

AND restore Our Housing Market for Australian First Home Buyers … Our Families …






Prospective homebuyers warn others to ignore for sale price tag

WHY are there too many buyers for too few homes in Sydney and Melbourne?

WHERE have the buyers come from? Are they all Australian Property Investors? Wealthy Boomers?

How many Proxy Buyers and how many have just flown in?

WHY is the housing property market ‘Hot’? Is it because of ‘Hot Money’?


WITH the Real Estate Gatekeepers EXEMPT from the second tranche of the Anti-Money Laundering Laws (October 2018: Morrison Government)

WHAT does that tell you about how the Morrison Government is working to ensure housing affordability for Australian First Home Buyers?

WHY not ask your local MP when the Morrison Government will implement and enforce this AML legislation?

ARE Real Estate Agents underquoting? It’s almost as if it’s too difficult to mention it …

Of course they are, we suspect most AUSTRALIAN buyers and sellers have encountered poor practices by real estate agents.


Could it be they represent themselves, not the buyer or the seller?

Could it be we have weak regulations in Australia covering the real estate industry?

And on and on…

Are real estate agents underquoting, or beating expectations in a rising property market?

By business reporter Nassim Khadem

30 DECEMBER 2019

Sold strip added to house 'for sale' sign in Canberra, 12 Sept 2015

PHOTO: According to CoreLogic, Australian home prices rose an average of 1.7 per cent in November. (ABC News: Ian Cutmore)

RELATED STORY: Property prices surge as ‘FOMO’ returns to Sydney and Melbourne housing markets

RELATED STORY: Melbourne real estate agent given record fine for ‘dodgy’ underquoting

RELATED STORY: Real estate company fined for underquoting properties

RELATED STORY: ‘Shonky’ real estate agents still underquoting despite crackdown

It is a problem that’s long been a feature of a rising property market: too many buyers battling for too few homes in the inner suburbs of Sydney and Melbourne.

Key points:

  • State laws impose penalties for underquoting, but proving it happens can be tricky
  • Real estate agents say the reason properties sell for $100,000 or more than advertised is due to market momentum
  • But buyers fear they are being pushed into spending more than their initial budget to compete for homes

ABC News did a call-out on social media asking if people were being underquoted for properties in Sydney and Melbourne.

A number of Australians wrote in saying they thought properties had been underquoted because they sold $100,000 to $200,000 above the advertised price.

But the real estate agents who sold the properties said the price advertised was within the reserve price of the vendors.

The agents said the fact the property ended up going for well above what they expected at auction was not underquoting, but the consequence of a ‘hot property market’.

According to CoreLogic, Australian home prices rose an average of 1.7 per cent in November.

Sydney led the gains, lifting 2.7 per cent for the month.

Real Estate Institute of Australia president Adrian Kelly says the fact homes are selling for more than their advertised price is an issue of limited supply amid growing demand.

“The problem we’ve got is we’ve got rising markets, particularly in Melbourne and Sydney, specifically due to low volumes [of properties available],” Mr Kelly said.

“But I can certainly understand the frustration because you put time and money getting yourself ready for auctions, and because of low volumes the prices go above reserves.”

State laws against underquoting include hefty fines

In NSW, agents face fines of up to $22,000 for failing to comply with the law and may also lose their commission and fees earned from the sale of an underquoted property.

And under underquoting laws introduced in Victoria in May 2017, agents that provide unreasonable estimates risk penalties of more than $33,000 and the loss of their sale commissions.

In the year to September, NSW Fair Trading conducted 12 compliance operations of real estate agents and issued almost $400,000 in fines.

CAAN: 12 cases of non compliance from the thousands of house sales in NSW … that’s like three fifths of nothing!

And during the 2018-19 financial year, Consumer Affairs Victoria issued 39 infringements for underquoting, worth almost $200,000.

A Sydney auctioneer yells out bids in front of a crowd of potential buyers in this August 24, 2013 file picture.

PHOTO: NSW Fair Trading says it is not considered underquoting when a property sells for a price more than what an agent estimated in the selling agency agreement. (Reuters: David Gray)

A NSW Fair Trading spokeswoman said underquoting occurred when a real estate agent either verbally advised or advertised a property for a price that is less than the estimated selling price in the agency agreement they had with the seller.

“It is not considered underquoting when a property sells for a price more than what an agent estimated in the selling agency agreement,” the NSW Fair Trading spokeswoman said.

A spokeswoman from the Victorian Department of Justice and Community Safety also told prospective buyers to be aware that comparing the initial advertised price with the sale price was not necessarily evidence of underquoting.

She said examples of underquoting included when a salesperson advertised or advised a property for sale at a price less than the seller’s asking price or auction reserve price, told a prospective buyer a price less than the agent’s estimate of the selling price, or gave a price less than the price the seller had already rejected.

Mr Kelly doesn’t think stronger penalties for underquoting will make a difference.

He says there are cases of individual agents getting record fines amounting to about $1 million for deliberate underquoting.

“Agents have well and truly been put on notice about underquoting,” Mr Kelly said.

Competing in Sydney’s rising property market

For Alexandra Alewood, 42, and her husband Jamie, 34, who have been looking to buy their first home in inner-west Sydney since July, the competition for Sydney properties has been overwhelming.

She said her budget was around the $800,000 mark, but the houses they searched for in that range constantly sold for well above that price.

She gave the example of a two-bedroom apartment at 7/12-14 Pembroke Street, Ashfield, that ended up selling at auction $252,000 above the initial price advertised.

“When the property was first listed on realestate.com and domain.com, the price guide was $680,000,” she said.

Alex Alewood and partner Jamie standing on a city rooftop.

PHOTO: Alexandra Alewood and partner Jamie have been searching for properties for months.

She said the first day she went to inspect the property there were many prospective buyers, and that day she was given a verbal price guide of $680,000 to $748,000.

She then went to her conveyancer to get the ball rolling.

A few days prior to auction in late November, she received an email from the agent Cobden & Hayson with a price guide of $720,000 to $750,000.

She said a similar property at the same block, that was not renovated, sold in 2016 for $810,000.

“We were using that as a guide rather than what the real estate agent had said,” she said.

Come auction day, Ms Alewood said her budget was, “a good amount over $750,000 and we didn’t even get a chance to bid”.

“It [the property] went over our bid in 15 seconds,” she said.

“It sold for $932,000. A lot of people were gobsmacked by what had happened.”

Ms Alewood said an ABC News film crew was there to film the auction.

Auction prices often based on pure emotions

Ms Alewood never made a complaint to NSW Fair Trading that this was underquoting.

“From the little I do understand about the real estate game, it is not technically ‘underquoting’ if they did not give a different price guide to the vendors,” Ms Alewood said.

“Their [the agents’] argument is that two people really loved it, and that’s what auctions are, they are purely emotions,” she said.

But she still believes, given the interest that there was in this property there was an opportunity for the agent to revise the price guide or be more forthcoming with information to the prospective buyers.

“The one thing that I’ve learnt from all of this is the agents are not on the side of the buyer, they are there to get as much they can for the vendor,” she said.

“It [buying a home] is already a scary thing for first home buyers and this makes it so much more intimidating.

A for sale sign.

PHOTO: Real estate agents say their job is to get the vendor as much money as possible, not stick to expected reserve prices. (ABC News: Elise Pianegonda)

“We already live in one of the most unaffordable cities in the world, and then this happens.”

Cobden & Hayson’s David Carrozza said this particular sale was an “anomaly”.

“When you look at comparable sales in Ashfield, most were in the $700,000 to $800,000 range,” he said.

Nevertheless, he said this was not an example of underquoting, but of the Sydney property market picking up.

He said the indications to would-be buyers’ pre-sale were in the $680,000 to $748,000 range, in sync with what the owner had been told.

He said underquoting was when you’ve told the owner one figure and the buyers another figure. In this case the owner and the buyers were given the same figure, he said.

“When it came to the reserve, the owner set the reserve at $750,000 and they were happy to take a bit less if it fell short of that amount,” he said.

“The day of the auction, there was a few interested parties and the auction dictated the value.”

“At the end of the day, my job is to get the most [money]. I’m not going to tell buyers you’ve gone above the reserve, stop bidding,” Mr Carrozza added.

Being at an agent’s ‘mercy’

Further afield in the Blue Mountains area, Jos Eldred, 28, and partner Danielle, 31, finally purchased their dream home after an agonising six-month search.

Ms Eldred said several agents gave lower prices than the couple expected the property to sell for, although she also could not prove it was underquoting.

She singled out one property in Blaxland that sold some months ago for more than $90,000 higher than the advertised price.

Jos Eldred sitting near a park.

PHOTO: Jos Eldred purchased her dream home in the Blue Mountains with partner Danielle after an agonising six-month search.

She said she could not prove it was underquoting, but was disappointed with the way the agent handled the sale.

“To come back and ask us, ‘Would you be willing to spend $90,000 extra on top of what we asked for’ is really inappropriate and unprofessional,” Ms Eldred said.

“They [agents] are definitely all doing it to an extent — really trying to push you up from your maximum limit and try to squeeze as much out of you as possible.

“As a fairly young couple with not a huge amount of money to spend, it feels like you’re at their [the agent’s] mercy.”

She hopes governments can offer more education to would-be buyers.

“It would be really helpful to have an advisory service available,” she said.

“Coming into this fresh-faced and not really understanding much about the market, we were naive about what to expect and how to deal with agents.

“It was only after mistakes and crappy experiences that we got a handle on it.”

A spokesman from Chapman Real Estate told ABC News they rejected and disputed any allegations of underquoting.

The agent put down the $90,000 price difference to, “a sudden surge in the bottom end of the market”.

“Previous to the property in question being placed on the market there were very minimal comparable house sales at the lower end,” the agent said.

“The listing agent and home seller were fully prepared to sell the home in the advertised price range.”

Melbourne property prices also on the rise

The case of properties selling well above their reserve is also becoming more common in Melbourne where property prices have also picked up in recent months.

According to CoreLogic, Melbourne property prices lifted 2.2 per cent in November.

Elena Savva, 27, and partner Nathan have also been looking for a property for more than six months.

Elena Savva in a blue hat and yellow dress.

PHOTO: Elena Savva believes most agents are underquoting but can defend it by saying it is just a function of Melbourne’s market picking up again. (Supplied: Elena Savva)

Ms Savva also believes most agents are underquoting but can defend it by saying it is just a function of Melbourne’s market picking up again.

She gave the example of a three-bedroom house at 25 Rhonda Street Avondale Heights.

She said the property was advertised at $600,000 to $660,000 but sold for above $780,000.

Bill Karp from Barry Plant Moonee Valley who sold that property said the market had rapidly picked up since the federal election.

“It [the property] wasn’t underquoted at all, it’s just where the market took it,” Mr Karp said.

He said the reserve price on auction day was $660,000.

“It went well above where the market expected it to go,” he said.

“That’s the free forces of an auction. It’s happening everywhere at the moment.”

He said a three-bedroom home at 13 Arbor Terrace, Avondale Heights was advertised around the $860,000 mark but ended up selling at auction on December 21 at $1.04 million.

“You can’t control these things,” Mr Karp said.

“I’ve done this [sell homes] for 36 years and there will never be a science as to what people pay.”

But Ms Savva thinks all agents quote lower than what they think a property will sell for in order to, “build a crowd on the day and in the moment get people who bid higher”.

“You spend all this time looking, you get lawyers to review contracts, you leave work early to get to auctions only to find people a lot older than you are buying for their kids,” she said.

Tips for buyers: Look at sales results, not agent estimates

Amanda Hann, 33, and partner Alistair, 34, have also been in the market looking to buy a house for the past six months.

Ms Hann says she is extremely frustrated at what she believes is real estate agents underquoting but that she has not been able to prove it.

She gives one example of 2/47 Smith Street, Thornbury which was advertised for $550,000 to $600,000, but sold at auction in October for $755,000.

Key in suburban house front door generic image

PHOTO: The trick to better knowing the market price is to look at previous sales, rather than depend on agent estimates. (Pixabay)

But she said it was not just one agent that advertised at prices far lower than it eventually sold for.

“We have been to multiple auctions and house viewings and have missed out on a number of houses due to underquoting,” she said.

Melissa Morgan says she and her husband have been looking to purchase a unit in the eastern suburbs of Melbourne for the past four months.

“We quickly learned that properties listed in our budget, usually went well over,” she said.

“Our first auction had a price guide of $550,000 to $600,000. Our budget was $620,000, but the property went for $723,000. We were absolutely gutted.”

Ms Morgan says it is frustrating to be constantly misled about the true value of a property, and a requirement for real estate agents to list similar properties, “doesn’t seem very effective”.

“After a few experiences like that, we learnt to look for properties that were listed well below our budget,” she said.

“Agents cherry-pick results to make the house seem like it could honestly go for less,” Ms Morgan added.

Her advice is to do your own research based on sale prices, rather than rely on “meaningless” agent guides.

“My biggest tip to would-be buyers is to ignore the ‘for sale’ price and look at the ‘sold’ results over the past three months — it’s a far better indicator,” Ms Morgan said.

A Sydney auctioneer yells out bids in front of a crowd of potential buyers in this August 24, 2013 file picture.

SOURCE: https://www.abc.net.au/news/2019-12-30/are-real-estate-agents-underquoting-hot-property-market/11829060?pfmredir=sm





Shame File: The big businesses that ripped off workers in 2019

Shame files: The wage theft scandals that rocked Australia.

Some of Australia’s biggest businesses were caught underpaying their staff in 2019. Photo: The New Daily


HAVE you noticed that many high profile Australian businesses are also increasing the employment of Visa Workers in their workplace?

PERHAPS this was a major factor behind this ‘Year of Wage Theft’?

AND why we have high youth Unemployment and UnderEmployment?

‘Hamish Macdonald interviews Shadow Minister for Employment & Workplace Relations Brendan O’Connor … Labour Hire, Casualisation and Temporary Work Visas’

View: https://caanhousinginequalitywithaussieslockedout.com/2019/03/23/9555/

Unemployment in Australia is not at a mere 5.2% but it has reached 19.7%

‘One Million Aussies Forgotten in Unemployment Statistics’

View: https://caanhousinginequalitywithaussieslockedout.com/2019/10/20/one-million-aussies-forgotten-in-unemployment-statistics/

Shame File: The big businesses that ripped off workers in 2019

Samantha Dick

Samantha Dick Reporter

Updated: Dec 29


A shocking number of high-profile Australian businesses have come under fire this year for ripping off their staff.

Celebrity chefs pinned over wage theft scandals included former Masterchef judge George Calombaris, Rockpool Dining’s Neil Perry, British chef Heston Blumenthal, French-born chef Guillaume Brahimi and Australian pastry king Adriano Zumbo.

But the problem of shortchanging workers extends far beyond the hospitality industry.

So which other big businesses are in the ‘bad books’ and how much did they steal?


In a stunning end-of-year confession, Woolworths announced it had short-changed around 5700 employees, with the total fallout from the underpayment estimated to be as much as $300 million.

The retail giant said it had analysed only two years of data, but believed the underpayment could stretch back as far as 2010.

Some Woolworths workers could be owed up to $100,000 each.

Woolworths said a review would be extended to all its Australian businesses. However, it did not expect that review to be finished until June next year.

An employee arranges fruit inside a Woolworths grocery store
Some Woolworths staff could be owed up to $100,000. Photo: Supplied

Sunglass Hut

Eyewear brand Sunglass Hut admitted in September it underpaid hundreds of part-time staff by about $2.3 million over more than five years.

Its parent company, Luxottica Retail Australia, managed to avoid prosecution by the Fair Work Ombudsman. Instead it agreed to a court-enforceable undertaking to repay the workers, plus a further $50,000 as a “contrition” payment.

sunglass hut wage theft
Sunglass Hut has admitted shortchanging hundreds of part-time staff. Photo: Facebook

Commonwealth Bank

In April, Australia’s biggest bank found about 8000 people were entitled to back pay totalling $4.8 million, including interest.

The announcement followed a similar 2017 review that found 36,000 staff were owed $16.7 million in unpaid superannuation.

Commonwealth Bank will repay 8000 workers a combined $4.8 million. Photo: AAP


More than a dozen Subway fast-food outlets were caught underpaying staff across Australia’s east coast as part of a lengthy investigation in September.

The Fair Work Ombudsman recovered $81,638 for 167 current and former underpaid employees at 17 franchises.

Among the breaches, the ombudsman found Subway failed to pay the employees minimum wages, casual loadings, holiday and overtime rates, and did not issue proper payslips or keep proper employment records.

The Fair Work Ombudsman has found Subway employees have been underpaid almost $150,000 over the past two years. Photo: Getty


A class action has been lodged against Domino’s Pizza Enterprises that claims its Australian franchises systematically underpaid drivers and in-store workers.

Domino’s workers were allegedly paid less than they should have from June 24, 2013 through January 24, 2018, casual workers weren’t paid a 25 per cent loading bonus and workers didn’t get penalty rates for working after-hours, on weekends or on public hours.

The workers also didn’t receive three-hour minimum shifts or laundry allowances.

While the CEO of Domino’s is the highest-paid in the country, some workers have been underpaid. Photo: Supplied

The Australian Broadcasting Corporation

Back in January, the ABC confessed to underpaying around 2500 casual staff over the last six years.

The broadcaster conceded making an error calculating penalties, allowances and loadings for flat-rate casual staff.

One casual employee in Brisbane was underpaid by $19,000.


Qantas announced in February that “an error, plain and simple” had resulted in 55 workers being underpaid by an average of $8000 over several years.

The airline claimed most of these underpayments came from its digital marketing and analytics departments. The workers were reimbursed with interest, plus an extra payment of $1000.

Super Retail Group

The parent company that owns Rebel Sport, Supercheap Auto, BCF and more admitted it failed to pay up to $32 million in managers’ overtime.

About 3000 current and former employees were affected over six years.

The company paid back the money it owed, plus $11 million worth of interest and payroll tax.

Michael Hill

A review in July found Jeweller Michael Hill International owed its workers up to $25 million for six years of underpaid wages.

The underpayment came to light after the review discovered the general retail industry award had been misapplied across the Brisbane-based jewellery chain.

Michael Hill said it would pay back staff and conduct a thorough review of all employee records, rostering practices and payments.


Bunnings admitted in September it had been underpaying many of its workers for as many as eight years.

The hardware giant told employees about a payroll error that resulted in some part-time workers receiving incorrect superannuation payments since the 2011-12 financial year.

The retailer said the “error” mainly affected part-time employees in its warehouses and smaller format stores across Australia, who worked more than their annual contracted hours from the 2012 financial year onward.

*If you believe you have been underpaid by an employer and would like to share your story, contact Samantha Dick at sdick@thenewdaily.com.au.

WHO are the Main Players in The Push for A Big Australia?

HOW did this all come about?

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‘Comment: A closer look at Scott Morrison’s CV’

‘When Scott Morrison skipped out the doors of the developer lobby, the Property Council of Australia commonly referred to as the PCA in 1995 … where he had spent six years cutting his teeth as a spinner, lobbyist and propagandist …

AND SM wrote the Policy for the PCA

… he then landed in the tourism sector before he entered politics.’

IT was thus that SCOMO was annointed to the highest office in the land … with the PCA now holding the reins of Australia!

READ MORE: https://caanhousinginequalitywithaussieslockedout.com/2018/12/13/5570/

AND in October 2018 … in the lead-up to the May 2019 Election … unbeknowns to many … the people in the street … the Morrison Government exempted the Real Estate Gatekeepers (RE Agents, Lawyers, and Accountants) from the Second Tranche of the Anti-Money Laundering Laws … this tranche having previously been shelved for more than 12 years …

IT is this ‘Black Money’ particularly from China that is awash in our domestic housing, and through which the cost of housing escalated in Australia … and with so much competition from foreign buyers flying in to buy that has made housing unaffordable for a Whole Cohort of Australians …

Real estate agents, lawyers and accountants to avoid money laundering laws



AND also shared on CAAN:


BUT … let’s go back to where the push for ‘A Big Australia’ all began …

Harry Triguboff’s Dark Secret …. the 19 Year Struggle that kept his Family apart

Within this article Harry is described as his father’s son … and this is borne out in his immense ability to accumulate wealth … his business acumen … and the ability to draw on his childhood spent in China ...

In 1941 the Triguboffs and other Russians seized the opportunity to take over trade in and out of China. 

And it was here that Harry cut his teeth as a developer when his father Moshe established four more stores and put much of his wealth into buildingHarry was taken to watch construction of some of the 20 apartment properties his father acquired around Tianjin.

From which modest beginnings … Harry is the Managing Director of MERITON, Australia’s biggest residential property developer …

Was it Harry’s influence in the Developer Lobby, the Urban Taskforce that convinced the government to increase the sell-off of ‘new homes’ from 50% to 100% overseas? And thus pioneered selling apartments to the Chinese through the Foreign Investment Review Board (FIRB) Ruling of 2008/09?

This, it would seem, was why aspiring Australian First Home Buyers have been locked out by the huge competition of Chinese buyers laundering ‘black money’ in our domestic housing …

READ MORE:  https://caanhousinginequalitywithaussieslockedout.com/2019/12/31/harry-triguboffs-dark-secret-the-19-year-struggle-that-kept-his-family-apart/

2006: Harry Triguboff: Let’s trade TREES for Homes!

IT’S simple, says Harry Triguboff. Sydney has too much green and not enough grey, and if you want to look at trees – well, go climb a mountain.

The views of the Meriton boss, Australia’s biggest property developer, are likely to outrage conservationists – particularly his declaration that Sydney has “too many forests and parks”.

“You go north and we have all these reserves and you go south and you have all the reserves, and they are the best part of the coast. That is crazy. We should be building on this area,” he said. “If they want to see treesthey can go to Katoomba, there are plenty of trees there.”

Image result for PHOTO Triguboff and his wife, Rhonda, have been Vaucluse locals since 1983

Photo: Domain:

MEANWHILE … the Triguboff residence is a very large home among ‘the gum trees’ … in a magnificent bushland setting in Vaucluse on Sydney Harbour … It would appear to be a much larger estate than those enjoyed by his fellow Billionaires in Point Piper! And the push is on for everyone else to live in apartments … storey upon storey because Harry and his Ilk make a motzer …



‘Harry … on One Plus One with Jane Hutcheon’

Related image

Photo: ABC

When Journalist, Jane Hutcheon interviewed Harry Triguboff on ‘One Plus One’ she enquired if HT had a hand in the way the Sydney landscape has changed?

Harry said:

“Well, since I am not a modest person I say I had the biggest hand in it because I devoted myself to Sydney. I did a little bit in Queensland, but absolutely I am Sydney!”

When he arrived (in Sydney Australia) he said he had conflicting feelings about having left his parents in a dangerous position.

“First of all I was so excited, then I felt ashamed,” he said.

“I thought I should be feeling sorry for them [my parents] that I came here.

“I looked at Bondi Beach. Bronze bodies. Unbelievable. I looked at the red roofs. No flats, [just] cottages everywhere. Superb, I couldn’t believe it …

“I didn’t know there was London or New York for me this was London and New York all in one.”

WAS it the Sydney ‘red roofs’ … that set him on the path to forever change Sydney … to build his fortune on what Harry alleges people want … cheap apartments?

Jane asked ‘You said you always understood what people wanted? …. How did you get that skill? Harry replied:

‘I watched them and I tried to understand what makes sense so I saw these young women here when I started, and they got very low wages, and I understood that the only way they could figure out security was to have a home. I could see it in their eyes. I could tell apartments which were a lot cheaper in cottages in areas that were much closer to the city, and there was no competition so I thought this is where I should go – logic right.



‘Phil Lowe he Worries me a Bit says Triguboff’

In the AFR, Australia’s most prolific apartment developer, Meriton founder Harry Triguboff, is not worried by warnings of oversupply. His response was:

“then I will bring in more migrants”.



‘Sydney Apartment Market suffering Post Stamp Duty Hangover Harry Triguboff says’

-“The problem with Australians is they are very slow. They ask their lawyer, they ask their financial adviser, they ask their family, they ask everybody. The Chinese don’t ask anybody, they come off the plane, buy their unit and go.”



READ MORE:  https://caanhousinginequalitywithaussieslockedout.com/2018/04/12/harry-could-he-have-been-the-instigator-of-the-property-ponzi-cough-cough/

‘I’ll Buy Cheaper Australia’s Property King is Exploiting the Slump’

“China has more than 1 billion people,” he said. “And they love Australia. I think they love Australia as much as we love Australia. So there will always be enough of them that will buy.”



Image may contain: 1 person, sky, tree and outdoor

CAAN Photo: Carter Street, Sydney Olympic Park … like Meriton Precincts have been constructed all over Sydney … we only saw Chinese buyers in the Display Centre and wandering around … do these developments look cheap? But not to be compared with the eyesores of Chinese ‘Ryde Garden’ and ‘Lachlan’s Line’ …

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CAAN Photo: Greenland ‘Lachlan’s Line’

Is there a cloud out there, a veil that will only be lifted when he finally goes to the other place?

*Perhaps then the truth will emerge about the past, and hopefully due process available to communities across Sydney and elsewhere will have a chance to be heard, respected and achieve outcomes that are more about amenity than profit …

GERRY HARVEY … HARVEY NORMAN aka ‘Hardly Normal’ …. a large Australian-based, multi-national drop shipping business of furniture, bedding, computers, communications and consumer electrical products. It mainly operates as a franchise, with the main brand and all company-operated stores owned by ASX-listed Harvey Norman Holdings Limited … and a finance company …

Image result for gerry harvey more flying in to buy fridges and washing machines flying off the shelves

Photo: Gerry Harvey

The push for A Big Australia is not confined to property developers Gerry Harvey another AFR Rich Lister has gained much from fridges and washing machines flying off the floor …

‘Gerry Harvey hearts the population ponzi again’

‘Last week, billionaire retailer, Gerry Harveypronounced that Australia would become an “Asian country” with a population of 100 million in the next century, saying there is “not a chance in hell” immigration can be dialed back.

There were 350,000 more people in Australia this year than there were last year. So, they all have to eat, buy things and live somewhere. And the market for refrigerators and washing machines and all the things we sell is actually growing all the time. It’s not going backwards. There are more irons sold, more toasters sold, more fridges sold this year than last. And next year there will be more sold again”.



‘Harry Triguboff, Lucy Turnbull, Chris Johnson about High-Rise Towers in Chatswood’

SEARCH CAAN Website to find more about Lucy Turnbull, the Greater Sydney Commission, Harry Triguboff, Meriton and former Urban Taskforce CEO Chris Johnson



‘Meriton Group Launched its Chatswood Towers’

Chair of the Committee of Sydney, the … Lucy Hughes Turnbull officially launched Meriton’s two towers, Centrium, in the affluent business district of Chatswood.

(At 2019 CHATSWOOD a City being built by Chinese Communist Party Money; Search CAAN Website for Audio of David Lee, GeoPolitical Strategist)

Ms Hughes Turnbull was accompanied by Meriton Group’s CEO, Harry Triguboff AO.

READ MORE: https://www.meriton.com.au/meriton-group-launched-its-chatswood-towers/

‘Sydney Metro Gets Underway by Blowing Things Up’

Lucy Turnbull’s Greater Sydney Commission will get a $62 million boost in the budget to step up its role in overseeing Sydney’s transformation.



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Photo: Former Prime Minister John Howard … while scapegoating refugees the Howard Government in the late 1990s opened the floodgates to immigrants with the Middle Class Chinese lured by the offer of ‘flexible citizenship’ when they bought Australian Real Estate and/or education! In 2004 there was a property boom … locking out Australians …

The Howard Government also introduced Visa Workers … which has led to high youth unemployment and underemployment … with the loss of Award Wages and Conditions! Unemployment is not a mere 5.2% but is now at 19.7% with one million Australians unable to find work! Search CAAN Website to learn more.

THERE are all too numerous ‘others’ participating in the Push for A Big Australia including members of the Developer Lobbies, the Urban Taskforce, and the Property Council of Australia; Toll Road Developers, Xi Jinping, the CCP, those seeking privatisation of Visa processing … and the extended families of the Diaspora … the Silent Invasion …


AND DO SOMETHING! Whether it be boycotting businesses; don’t sell out; email local MPs of community objections

RELATED ARTICLE: https://caanhousinginequalitywithaussieslockedout.com/2019/12/30/exposing-the-growth-lobby-behind-a-big-australia-2/

SEARCH CAAN WEBSITE to find more reports concerning the Growth Lobbyists

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Now and then: How Sydney’s property market has changed since 2010

Now and then: How Sydney’s property market has changed since 2010

Darling Point was among the top suburbs for unit price growth over the past decade.

ASK … why is it that the

building boom focused on units rather than houses … is it because storey upon storey developer makes a Motzer?

-why did housing growth return again by September 2012 … is it the relationship and policies of the NSW Coalition with the Federal Coalition and the Property Sector?

-when the median price reached about $1.2 million and the housing affordability crisis reached fever pitch


low interest rates, strong population growth and levels of homebuilding

WHY the expectation that prices would continue their upward trajectory … despite Slow Wages Growth … ?

WHERE was the population growth coming from?

IS the growth due to no Anti-Money Laundering Laws (second tranche of the AML Legislation) for the Real Estate Gatekeepers?

-with two new Casinos for Sydney to facilitate the money laundering

-is it because following real estate purchase with the lure of an Australian ‘Permanent Resident Visa’?

Now and then: How Sydney’s property market has changed since 2010



DEC 28, 2019

Cast your mind back to the dawn of the decade.

Kevin Rudd was prime minister, iPads had not been released, and Tik Tok was a Kesha song dominating the charts, not a rapidly growing social network site.

Sydney was home to about 4.58 million people and its median house price was less than $650,000.

What a difference 10 years can make.

Fast forward through the decade 15 interest rate cuts, five prime ministers, a property market boom and a bust later — and Sydney’s median is, once again, back on the rise.

Greenacre, Sydney. low res
Sydney’s median house price is now at $1,079,491, an increase of 68 per cent on the 2009 median. Photo: First National Greenacre

The latest quarterly data from Domain showed the median house price is now at  $1,079,491. That’s an increase of 68 per cent since 2009. While unit prices jumped about $237,400 over the decade to a median of $694,840, its increase was less acute, at only 40 per cent.

“The building boom focused on units rather than houses and that’s a big reason why unit price growth has been more subdued over the decade,” said Domain economist Trent Wiltshire.

Sydney is finishing the decade the way it started, with rising prices.

The city recorded double-digit annual house price growth for the four quarters to September 2010 and while prices dropped slightly the following year, it was not for long, with growth returning by September 2012.*

That was the beginning of sustained property price rises, which continued until the mid-2017 market peak when the median price reached about $1.2 million and the housing affordability crisis reached fever pitch.

And while the law of gravity dictates that what goes up must come down, which Sydney prices did with the biggest market correction since the 1980s playing out over the two years to mid-2019, it seems Sydney’s market is somewhat gravity-defying.

Last quarter the market recorded a rapid turnaround, with the median house price regaining almost $50,000, close to one-third of the value lost over the downturn.

Sydney’s median house price increased by almost $50,000 over the September quarter, off the back of renewed buyer confidence. Photo: Peter Rae

*Price movements aside, there were a number of key factors that drove the market over the decade, Mr Wiltshire said, including interest rates, population growth and levels of homebuilding.

“Interest rates fell, the population grew, but it took a while for construction to pick up, which it did from 2014 and 2015,” he said.

Stephen Koukoulas, managing director of Market Economics, agreed it was a roller coaster of a decade.

*“There were ups and downs,” he said. “But basically the drivers have been strong population growth … the lowering of interest rates.

*“With limited supply and growing demand …. it’s no surprise that on average the basic trend is a compound increase of 5 per cent on average, annually,” he said, but noted regulatory changes from APRA, slow wage growth and unemployment rates had also impacted the cycle.

*Sydney’s population grew by more than 650,000 people over the decade. And while more than 260,000 new homes were completed across Greater Sydney over the past 10 financial years, about two-thirds of those were apartments, planning department figures show.

Five council areas — Parramatta, Sydney, Blacktown, Bayside and Liverpool — accounted for 40 per cent of the new homes.

The decade’s strongest performers

While the city-wide median house price increased by 68 per cent, there were 10 suburbs across the city in which prices increased by more than 90 per cent.

Canley Vale, 30 kilometres south-west of the city, had the biggest increase with a 112 per cent jump to $805,000.

Prices more than doubled in Manly too, with the median jumping from $1.5 million to $3,003,000.

North Balgowlah, also on the northern beaches, and Bella Vista, Castle Hill, *Chatswood and Cherrybrook on the upper north shore, and Macquarie Fields and Smithfield in the south-west and west, rounded out the top 10.

Mr Wiltshire said the hallmarks of the postcodes with the strongest growth were new infrastructure, job growth and limited housing supply. A change in the types of homes sold, such as newer or larger properties, also impacted on the median price.

Suburbs20102019 Change %
Canley Vale$380,000$805,000112
Macquarie Fields$268,750$532,50098
North Balgowlah$1,077,500$2,097,50095
Bella Vista$871,000$1,685,00093
Castle Hill$720,000$1,385,00092
Source: Domain Group.

Michael Clarke, principal of Clarke & Humel Property on the northern beaches, said the area, and Manly, in particular, had drawn more out-of-area buyers – particularly more downsizers from the upper north shore – over the decade.

“It’s gone from being a suburb the locals know and love … to being a place that’s not just known across Sydney, but internationally as well,” he said.

Mr Clarke said the fast ferry had been a game-changer, boosting demand from those who commuted to the city, with some buyers noting they could get to work more quickly from Manly than popular Bondi.

The suburb had also seen a boost in the quality of homes for sale, he added.

The value offered on the northern beaches at the start of the decade drew buyers priced out of inner-city locations, driving demand and price growth, said Thomas McGlynn, head of sales and chief auctioneer at The Agency.

*Good value was also a drawcard for top-performing upper north shore suburbs, Mr McGlynn said, but noted such areas also benefitted from solid demand from foreign investors during the boom. Price growth had also been driven by demand for good schools and new infrastructure, he added.

Suburb20102019Change %
Darling Point$950,000$1,888,00099
Crows Nest$500,000$890,00078
Source: Domain Group.
Not all of Sydney grew at an astronomical rate

By comparison, prices were more subdued in the city’s south, with suburbs like Cronulla, Sylvania and Gymea recording increases below 50 per cent. Affluent suburbs like Vaucluse, Woollahra and Paddington also increased by less than 50 per cent over the decade.

Mr McGlynn said it was important to note that outer suburbs could be late to join a price boom, but quick to exit.

He said it was unsurprising that higher-priced suburbs saw smaller percentage jumps, as they were coming off a higher median-price base and would have a smaller turnover.

In dollar terms though, Sydney’s affluent areas recorded the most jaw-dropping rises.

House prices rose by $1 million or more across 25 suburbs, with Bellevue Hill recording the biggest increasejumping almost $1.9 million to $5,125,000. It was followed by Manly, Vaucluse and Mosman.

Neighbourhoods Newtown
Newton was among the top five suburbs for median unit price growth over the decade. Photo: Steven Woodburn

Suburbs in the inner city, eastern suburbs and west had the biggest unit price increase, with Penrith and Darling Point medians increasing 99 per cent.

Lidcombe, the CBD and Newtown were also among the top five suburbs. Prices jumped more than $500,000 in six suburbs, with the biggest increase in Darling Point – where the median increased by $938,000.

*As for what 2020 holds, Stephen Koukoulas said he expected prices would continue their upward trajectory, despite slow wages growth.*

“There’s plenty of momentum there,” he said, noting the sharp decline in building approvals may even result in a shortage of properties this time next year.

“You’ve got all systems suggesting double-digit growth next year,” he added. “We’ll regain peak levels pretty soon … by March or April the market could hit fresh highs for prices and probably keep going.”

SOURCE: https://www.domain.com.au/news/now-and-then-how-sydneys-property-market-has-changed-since-2010-916720/?utm_campaign=strap-masthead&utm_source=smh&utm_medium=link&utm_content=pos5&ref=pos1