Tag Archives: oceania

Trade minister optimistic despite China holding firm on import bans

Australia's trade minister is returning home from China with an optimistic view, even as major import restrictions remain in place.

Don Farrell pushed the Chinese government to lift its prohibitively expensive tariffs on Australian barley, beef, wine, lobster, coal and timber.

But those trade bans remain in place for now.

Australian Trade and Tourism Minister Don Farrell, left, arrives for a meeting with Chinese Minister of Commerce Wang Wentao, right, in Beijing.

READ MORE: China launches war games aimed at rattling Taiwan

But Farrell said there was "positive momentum" in his meeting with his counterpart Wang Wentao last night.

And a reported visit from Chinese foreign minister Qin Gang in July is hoped to thaw the icy tensions between the countries.

But that visit is yet to be confirmed by China.

A freight terminal in Hong Kong. Heavy tariffs on many Australian imports remain in place in China.

Chinese Foreign Minister spokesperson Wang Wenbin was asked about a visit at a press conference yesterday.

"China and Australia maintain contact and communication at all levels," he said.

"As to your specific question, I have nothing to share."

Chinese Trade Minister Wang Wentao expressed his country's frustrations that their electric cars were not allowed to be imported into Australia.

Farrell said he also spoke out about Australians Cheng Lei and Yang Henjung, who have been detained in China on espionage charges.

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Rented Lamborghini crashes into car yard in Sydney

Police are investigating after a rented black Lamborghini crashed into a car yard in Sydney overnight.

Police found the luxury performance vehicle had driven off the road and hit three cars on Parramatta Road in Concord about 9.40pm last night.

"The driver of the sports car had left the scene prior to police arrival and inquiries are continuing," NSW Police said in a statement.

READ MORE: Three charged for allegedly supplying cocaine in Wagga Wagga

Police are investigating after a rented black Lamborghini crashed into a car yard in Sydney overnight.Police are investigating after a rented black Lamborghini crashed into a car yard in Sydney overnight.

"There's been no reports of injuries at this time."

Police are also investigating a stealing and intimidation offence in relation to the incident at Wiley Park overnight.

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New data offers slight glimmer of hope amid housing crisis

The vacancy rate in Sydney's rental market has slightly increased, offering a glimmer of hope amid the nation's housing crisis.

Vacancies in the city increased by 0.17 per cent in April, according to new data from PropTrack, although the vacancy rate still lies at just 1.59 per cent.

While the market has grown slightly, rental vacancy rates are still down 54 per cent from before the COVID-19 pandemic.

READ MORE: Rented Lamborghini crashes into car yard in Sydney

An aerial view of houses in suburban Melbourne.

Sydney's rental vacancies have only dropped 0.45 per cent in the last month, despite the recent uptick.

The high demand and limited supply have also pushed rental prices up 12.15 per cent in the last year.

Vacancy rates saw a 0.12 per cent uptick in regional New South Wales in April, up to 1.70 per cent.

Slight upticks in rental vacancies were also seen in other capital cities.

Melbourne increased by 0.10 per cent, while Brisbane and Adelaide saw a 0.10 per cent increase.

Perth wasn't far behind with a 0.9 per cent increase, while Hobart had the highest increase in rental vacancies at 0.31 per cent. 

Canberra has the highest rental vacancy rate at 2.06 per cent, while every other city had a rate below 1.70 per cent.

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