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REIWA’s March quarter data show that Perth’s median house price has reached a new record of $510,000.
The previous peak was $505,000 in the March quarter of 2010.
There has been a 2% increase on the median price from the December quarter, which has been driven by a lift in turnover and more sales activity above the median price.
Our preliminary data for the March quarter show that while the proportion of sales under $500,000 has fallen there was a marked increase in sales between $500,000 and $1 million.
REIWA data show that homes selling for $600,000 to $700,000 and those between $800,000 and $1 million represented some 20% of all sales during the quarter.
The $600,000 to $700,000 range was the most dominant price point above the median during this period and is a healthy illustration of consumer confidence through trade-up activity.
Despite a general downturn of sales under $500,000, those homes which sold for between $400,000 and $450,000 show a slight increase in turnover largely driven by strong first home buyer activity.
The $400,000 to $450,000 range was the leading price point in the overall market, representing 12% of all sales for the first three months of this year. Sales in this price range are turning over very quickly and the Office of State Revenue reports that in February the median purchase price for first home buyers was $425,000.
Flats, units, apartments and villas are more common in the central part of Perth and indicate a 10 per cent rise in sales during the quarter, suggesting an upturn with investor activity given that around half of all multi-residential property is tenanted.
Suburbs closer to the CBD also saw stronger sales activity during the quarter including within the cities of <a target="_blank" href="/news">Bayswater</a>, <a target="_blank" href="/news">Belmont</a>, <a target="_blank" href="/news">Bassendean</a>, <a target="_blank" href="/news">South Perth</a>, <a target="_blank" href="/news">Victoria Park</a> and the coastal strip in the City of <a target="_blank" href="/news">Stirling</a>.
These areas are all over the general median price and as such contributed to the overall lift in the market median.
REIWA’s preliminary data indicates that most local government areas have movements in median prices of plus or minus 3%, suggesting that the composition of sales is an influencing factor in the quarter with more expensive homes impacting on price movements.
Nearer to the CBD in the cities of Bayswater, Bassendean, Belmont and <a target="_blank" href="/news">Canning</a> where the supply of listings has tightened indications are a median rise of around 4 to 5%.
Increased sales activity was also reported in the more traditional first home buyer areas across the South East Corridor in the cities of <a target="_blank" href="/news">Gosnells</a>, <a target="_blank" href="/news">Armadale</a> and the Shire of Serpentine- Jarrahdale along with <a target="_blank" href="/news">Rockingham</a>, <a target="_blank" href="/news">Kwinana</a> and <a target="_blank" href="/news">Wanneroo</a>.
Reported land sales are also showing a 10% rise across the quarter.
The volume of land for sale remained relatively stable across the quarter at around 1,500 lots, while the total number of listings including houses, units and land have remained reasonably steady in recent weeks.
REIWA data show listings at around 8,500 properties after starting the year at 9,300.
The March quarter results show a buoyant market returning to more normal conditions on the back of solid population growth and a strong state economy.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank" rel="nofollow">Real Estate Institute of Western Australia.</a>This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx" rel="nofollow">reiwa.com</a>.
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Perth's median house price hits a new high: David Airey

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The diminishing level of listings in metropolitan Perth in the wake of strong population growth and improving consumer confidence will create upward price pressure and increased demand for homes.
Properties for sale have slipped to just 8,429, down from 14,092 at the same time last year.
The long-term equilibrium for Perth is around 12,000 while the lowest number of listings recorded by REIWA was 4,793 in June of 2006.
Agents are reporting an increasing shortage of properties in popular price ranges especially around the median of $500,000. REIWA data suggests that listing stock is trending downwards on the back of strong sales turnover and these properties are not being replaced with enough new listings to meet demand.
Now that the market appears to have turned in favour of sellers, many may be holding back with the expectation of a better price in the months ahead. Until more sellers list their properties and until we get more new homes onto the market from builders, then competition from buyers will put pressure on prices.
While the upturn in the market with both sales and price was encouraging after three years of sluggish sales it is important to ensure a sustainable market for buyer access and consumer confidence.
Perth’s population is growing at around 1,000 people every week and the market is turning over around 1,000 properties every week. As our population continues to grow on the back of the state’s healthy economy there will be ongoing pressure with the housing system.
We are not heading into a boom by any means. The market is reacting to pent-up demand so it’s probably a good time for hesitant sellers to take advantage of a market full of keen buyers and with sales happening quickly for correctly priced property.
The buoyancy in the market has prompted a lot of renewed interest in <a target="_blank" href="https://reiwaviews.com.au/2013/02/the-auction-option/" title="Have you considered the auction option?">auctions</a>.
When listings get tight and demand is strong an auction is probably the best way for a seller to get a cash sale at auction under the hammer. It also means that buyers will need to get finance pre-approved and set a bid-limit so they can compete to buy a popular property.
David Airey is president of the <a rel="nofollow" target="_blank" href="https://reiwa.com.au/home/default.aspx">Real Estate Institute of Western Australia.</a>This article was originally published on <a target="_blank" rel="nofollow" href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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Perth's housing market is reacting to pent-up demand: David Airey

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Compared to other states and territories, home auctions are less common in Western Australia, with only around 2% of properties sold using this method.
By contrast, around 23% of properties are auctioned in Sydney, 30% in Melbourne, 11% in Brisbane, 27% in Adelaide, 16% in Darwin and 10% in Canberra.
Across the nation the average number of homes sold by auction is approximately one out of every five.
The main reason behind the lesser auction culture in WA seems to be the success of the offer and acceptance form developed by REIWA. This reliable document used for a sale by private treaty would be familiar to most home buyers, and its simplicity is the main reason why private treaty dominates sales methods here.
However, the strong and fast market in Perth during the boom resulted in renewed interest in auctions – and it wasn’t just confined to the western suburbs or to premium properties, which had traditionally been the case.
When prices were rising quickly during that period, it was often hard for agents to determine the right price for a property or anticipate what a purchaser might be prepared to pay, so an auction proved an ideal way to get the best price for the seller, often exceeding the vendor's expectations.
Of course, the WA market is no longer booming and the median price is more stable, but an auction with its short but high-profile marketing campaign can be very effective at bringing out the more serious buyers on the day.
When there are many properties listed for sale and hesitant buyers are spoilt with choice, an auction might be just the thing you need to give your property the edge it needs to attract attention.
Sometimes the media reports that many auctions are being passed-in at the fall of the hammer, recording no sale.
However, this fails to illustrate that very often West Australian buyers will approach the auctioneer shortly after the conclusion of an auction to negotiate a sale by the more familiar private treaty method. Again, this seems to be more a part of WA’s different auction culture by consumers, but the process still serves to attract keen buyers for the seller in a shorter time.
Auctions in WA are undertaken using a code of practice for the profession following consultation by REIWA with the Australian Competition and Consumer Commission to ensure the code accords to best practice. As a result, REIWA believes its code of conduct lifts the benchmark for ethical auctioneering practices.
Ask your agent about the pros and cons of auctions if you want to explore this method further.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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Why more WA home owners should consider selling their homes at auction

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There was a clear lift in both the median house price and turnover in the property market in Perth at the end of last year, according to Real Estate Institute of Western Australia data released on Friday.
The institute’s December quarter results put the Perth median house price at $495,000, up by more than 3%, or $15,000, on the previous quarter.
It is now only $7,500 shy of Perth’s all-time peak from March 2010.
The lift in median prices is due to a welcome surge in turnover of more expensive properties, particularly in the $600,000 to $700,000 range.
Very strong first-home buyer activity means that many people looking to sell an existing home and move on have a ready pool of eager buyers.
Strong first-home buyer activity is a terrific stimulus for the entire housing system.
This scenario is reflected in the fact that the top two suburbs for price growth in the December quarter were outer-suburban, affordable, <a target="_blank" href="/news">Calista </a>and gentrified, upper-market <a target="_blank" href="/news">Mount Lawley</a>.
REIWA reports a modest rise in metropolitan unit and apartment prices of around 2% to a median of $410,000. It is not surprising stronger growth is mostly with inner-city areas such as <a target="_blank" href="/news">Highgate </a>and <a target="_blank" href="/news">Burswood</a>, where demand was higher.
The more interesting news to come from our December analysis is that the average number of days it takes to sell property has dropped from 71 to 62 and the number of sellers dropping their asking price has fallen from almost 60% to around 55%. Together, these factors illustrate that the market is clearly improving as sellers get the pricing right and buyers respond in better time.
Of those sellers who dropped their asking price to seal the deal, the average discount was 5.5 per cent. The percentage of discounting also seems to be trending down as the market improves.
Total dwellings sales statewide for the December quarter are estimated at 11,600, around 15% up on the same time last year.
The regional market was pretty stable, with the median house price unchanged at $365,000 and virtually equal to a year ago. Blocks of land in country WA are also sitting still at a median of $165,000, although regional units and apartments slipped a little, dipping by just over 3 per cent to $315,000.
The Perth rental market is still tight. The equilibrium for the metropolitan vacancy rate is 3%, but currently we’re at 1.9%, and this is likely to shrink further during the March quarter, a traditionally busy period in the rental sector.
The Perth median rent remained stable at $450 per week during the December quarter, marking the first time in year that the median rent has not crept up. However, while the median remains unchanged, rents specifically for houses went up by $10 to $460 per week and for units and apartments dropped by $10 to $420 per week.
Preliminary estimates indicate Perth will record nearly 12,000 land sales for the 2012 year, which is a 37% increase on 2011. The south-west and north-west corridors accounted for half the sales.
The south-west corridor covering the Cockburn and Rockingham-Kwinana regions is the most affordable area in Perth in which to buy land, with an annual median of $210,000.
By contrast, the median land price in the northwest corridor, covering the Joondalup and Wanneroo local authorities, was higher at $240,000 across last year, while a median of $394,000 was determined for blocks that are within roughly ten kilometers of the CBD.
REIWA data on annual medians across 2012, show that in the regions, <a href="/news">Port Hedland</a> finished the year with 12% growth and a median price of $880,000, providing further evidence that sections of the mining sector are still having a profound effect on property in parts of the northwest.
Kalgoorlie-Boulder was the second best regional performer, with 4% growth during the year and a median price of around $343,000.
In the midwest, <a href="/news">Geraldton</a>-<a href="/news">Greenough </a>experienced just under 3% growth and settled with a median house price of $380,000.
<a href="/news">Mandurah</a>-<a href="/news">Murray</a> and <a href="/news">Busselton </a>both grew by 1.6% over the year, with median house prices of $380,000 and $416,500 respectively.
<a href="/news">Bunbury</a> recorded modest growth of 1.4% in 2012, to a median price of $365,000.
The poor performer was <a href="/news">Albany</a>, dropping to a median of $355,000 after experiencing negative growth of 4.4% over the year.
To put these regional figures in context, metropolitan Perth had overall growth in 2012 of 2.3%, although 2013 looks like being a better performer right across the board.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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Perth property prices just $7,500 shy of all-time peak

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In the last few years overseas con artists have managed to sell two properties in Perth that they didn’t own.
This was devastating not only to the rightful owners of these properties, but also to the real estate agencies caught up in this dreadful situation.
In both so-called Nigerian property scams, the criminals were able to fool the selling agent, the settlement agent, the banks and Landgate that they were the title holder and could sell the property.
Once the transfers had occurred and the sales settled it became apparent that everyone had been duped, including the legitimate owners of these houses.
These property scams had been possible because identity checks had not previously been a requirement as part of the listing process when selling a home. However, as technology has advanced it has become possible for scammers to fake an identity and present themselves to a real estate agent as the legitimate owner of a property when in fact they are not.
In response to these frauds, the state government has implemented a system whereby the seller of a property must produce evidence of identity in much the same way as you do when you open a bank account or sign a mobile phone contract.
This means a 100-point check in most cases, through which the seller has to produce a series of different identity documents such as a passport, driver’s license, rates notice, bank statement and birth certificate. It is almost impossible for such multi-layered counterfeit to occur and hugely reduces the risk of property fraud.
This system has now been in place for two years and real estate agents are finding that the identity checks for people selling property have been well received by the public.
Some agents were initially concerned this new onus on sellers might meet with some resistance, especially from long term and repeat clients well known to the agent, but REIWA members report that the public respects this new requirement and embraces it.
When sellers are unable to be with the agent at the time of listing their property they must have their identity documents sighted by a witness such as a JP, doctor, police officer or pharmacist. This may be inconvenient to some sellers and agents, but it’s a small price to avoid another scam.
If you are a seller and wanting to list your property with an agent, don’t be surprised when your real estate agent asks you to provide a series of identification documents to confirm your bona fides even if you have known the agent for a long time.
As a seller your co-operation in this regard is helping to safeguard the community and deter the fraudsters.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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How to stop property scammers selling homes they don't own

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Many people reading this column might be relaxing at a beachside getaway, a wine region, a great fishing spot or perhaps in a heritage town.
Over summer many people will be enjoying the state’s delightful holiday spots, particularly along the coast of Western Australia. Places like Dunsborough, Denmark, Dongara, Lancelin, Cervantes, Albany and beyond. Over the years many people have bought holiday homes in these places.
Today, holiday homes are being purchased as far apart as Exmouth and Esperance. It all depends on people’s budget, allowable travel time and their strategy behind the purchase.
The ideal holiday home for most people is one that is always available for short stays, but this is a costly option for people who need to take out a mortgage on a second home. They are not the inexpensive country option they once were, particularly on the coast.
However, these days an increasing number of buyers are choosing to combine the purchase of a holiday home with long-term investment plans. This is possible because many favoured holiday locations have developed viable rental markets with local tenants leasing properties for extended periods, often beyond the summer holiday.
Some of these places might include Albany, Harvey, Busselton, Margaret River, Gin Gin, York  and Cervantes in WA, for example.
Homes initially purchased as investments in these locations can later be used for holiday purposes.
In places where demand for rental accommodation is seasonal, such as fishing towns, windsurfing spots and agricultural areas, there is a greater likelihood of vacancies for rental properties outside the peak holiday or industry period. However, the rentals are normally much higher in properties leased for short periods, and this can partly offset the loss of rental income when the place is vacant.
The benefit of this strategy is that the owner can then take advantage of the seasonal rental market by using the property off season.
Another option for holiday home buyers is to purchase a unit in a resort development. Some resort operators will guarantee a rental income for a fixed period. In many cases the purchaser is acquiring a share of a managed investment scheme, which includes a stake in the total income and expenses incurred by the resort.
Either way, the most important consideration when buying a holiday home is, as far as possible, to set aside the emotional reactions and approach the purchase with a clear understanding of the real value of the property, its ongoing costs and the likely rental income.
If you are travelling around the state this holiday season and maybe thinking of a holiday home investment, why not drop into the nearest REIWA agency office and talk to the staff about opportunities?
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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Where to invest in a holiday property in WA

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The Real Estate Institute of Western Australia has urged the state government not to consider ending the universal application of the first-home owners' grant in its upcoming midyear budget review.
Currently, the state distributes the $7,000 grant to first-home buyers irrespective of whether they are purchasing an established property or building a new one.
Some premiers in the eastern states have changed the rules for eligibility and will now only provide funds to first-home buyers who build a home or purchase a newly built one.
The New South Wales and Queensland governments recently scrapped the first-home buyers' grant for people who buy a previously lived-in property as a means to stimulate their flagging construction industry.
However, that stimulus is not needed in WA, especially when 75% of first-home buyers in this state purchase a second-hand home, not a new one.
WA is presently experiencing the strongest non-stimulatory growth in first home buyer activity in both the established and new housing sectors since FHOG was introduced in July 2000.
Now is not the time to distort the healthy recovery in the WA housing market.
First home buyer activity  is currently very strong in WA, constituting up to 30 per cent of all turnover around the state.
We are also starting to see a healthy recovery in new building activity, which has partly been led by first-home buyers now representing 25% of this new activity.
Meddling with the application of the first-home owners' grant now would greatly distort this healthy sector of the market and disadvantage three-quarters of people trying to own their first homes.
The Commonwealth introduced this grant with the purpose of it having universal application to all first-home buyers. This universality must continue in WA to keep this section of the market stable and to ensure fairness for all new buyers.
REIWA is also encouraging the state government to maintain its transfer duty exemption for first home buyers in the forthcoming midyear budget review.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>. 
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The WA government should leave the first-home owners' grant as it is: David Airey

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As we enter the long, hot Australian summer, many people will be attracted to the delights of a backyard swimming pool.
They can certainly be enjoyable, but a question often asked of agents is, “does a pool add value to a home?”
It seems there is no clear answer to this because it really depends on a range of factors.
Some people will say that a pool is a lifestyle preference not shared by all potential buyers of your property, and so it won’t really add value. Others might even see it as inconvenient because of the  ongoing servicing. For other people it might be exactly what they want, and they’re prepared to pay for the luxury.
Owning a pool requires annual pool inspection fees, ongoing costs with pumping, cleaning and chlorinating and possibly occasional structural maintenance on older pools.
As water becomes more precious, it seems likely that the future costs of owning and filling a pool will be greater. For some home buyers these outlays and responsibilities are unwanted and homes with pools will be avoided.
However, this should not diminish the general value of a pool, or more precisely the entertainment features of a home sought after by other buyers.
Perth enjoys a Mediterranean climate ideally suited to outdoor living. It’s hardly surprising that the external appearance and features of a WA home do affect its value and generally provides greater ease in selling.
In deciding if a pool really does add value, it’s important to consider design features and quality of construction. REIWA agents tend to find that if pool is part of a well designed outdoor living area and complements the house by creating a better aspect to the property, then it adds some value to the home.
Important design features for a pool include things like safety concerns, access to other open areas on the property and compatibility with the look of the house.
Legislation is in place which ensures that all enclosures for pools built between 1989 (the first year of mandatory fencing), and 1992 need to comply with the Building Amendment Regulations Swimming Pool Safety Laws.
So, owners and buyers of properties with older pools need to be aware of these legal changes to fencing and should contact their local council or shire for clarity.
Installing a new pool should be approached in a similar way to building an extension. In most cases an extension is made to accommodate a growing family or to provide for a lifestyle improvement.
The better extensions are those which are well designed and constructed. This will add value to a property for the right buyer who’s specifically looking for what you might have to offer.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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Does a swimming pool increase a property's value? 

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If you own an investment property and rent it to tenants, you can run this business yourself or hire a property manager to do it. And that’s how you should regard this situation: it’s running a business.
In Western Australia, around 60% of investment properties are professionally managed by a real estate agency, and the remaining 40% are self-managed by private owners. The evidence suggests however, that the percentage of properties under professional management is growing.
If you work part time or are retired, have some basic legal competencies and understand the complexities of the Residential Tenancies Act (RTA), then managing your own property may work well for you.
The problem is that many private owners don’t understand their legal obligations under the RTA and some get into difficulties as a result.
Most owners underestimate the amount of time that goes into managing a property, or just how difficult, expensive and unpleasant things can become if a dispute arises. For example, if the tenants default on the rent, abscond or require eviction.
This is where a property manager can be invaluable. From the start, a good property manager can arrange the public viewing of the property and then thoroughly check all applications and references from prospective tenants. This includes scanning the National Tenancy Database to see if any applicants have a history of unacceptable behaviour.
Once suitable tenants are short-listed by the property manager and then chosen by you as the owner, the property manager can arrange all the lease documentation, take care of the rent collection, bond lodgement, occasional maintenance, quarterly home inspections and utility expenses, such as water and council rates.
Property managers are also skilled at understanding the market rate for the property and setting the weekly rent accordingly. Many private owners tend to misjudge this or feel uncomfortable about reviewing the rent with renewed leases for existing tenants even though this can be unwise over the long term.
The most important role of the property manager is to act as the link between the owner and the tenant in a professional way, so that the owner is not exposed to any situations that might be uncomfortable, while at the same time ensuring that the tenant can also raise issues without having to confront the owner directly.
If a situation arises that requires going to court, which sometimes happens, property managers are familiar with the law and can represent you at the hearing.
Property managers charge a percentage of the weekly rent as their fee, but this is fully tax deductible as part of your business expenses each financial year.
Contact REIWA to find your local property managers or to enquire further about their role in the housing sector.
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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The benefits of using a property manager for your investment property

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Most property sales tend to take place during autumn, but for many people who are thinking of buying the next few months over Christmas and the summer holiday period can provide good opportunities to take some time out and look around.
Many home buyers are keen to be ready for the new year, often because of a new job, the start of the university calendar or settling the kids into a new school.
Real Estate Institute of Western Australia data show that sales slowed during the September quarter, but early indications are that things picked up in the month of October.
There are currently around 11,000 properties on the market, which is perhaps around 1,000 fewer than we might typically expect in a more usual market with a better ratio between listings and buyers.
People are taking a while to look around and decide on a purchase with the number of selling days stretching out to around almost three months once a house is listed for sale.
The more affordable homes are being snapped up by first home buyers more quickly, while the trade-up market is slower.
Historically you might expect approval for home loan finance within two weeks, but most loan providers now require at least three or four weeks since the banking industry tightened its application processes to ensure prudent borrowing.
If you are thinking of selling your property it generally makes sense to get it on the market well before Christmas, but by the second half of December you can expect the market to go quiet until February when it tends to pick up again.
Successful sellers should allow extra time for settlement. Usually five weeks is enough between the contract of sale and the settlement date, but Christmas and New Year holidays may cause delays with building inspections and termite clearances, particularly if workers are on leave. As such, it’s wise to leave around seven weeks for the settlement period at this time of year.
If you have not sold your home before the end of the year you can expect a strong slow down in the market during the festive season through until late January. Your real estate agent can advise you on the best marketing strategy during this period. In consultation with your agent, you may even decide to take your property off the market until February.
Given current market conditions, it’s very important that a property is priced correctly to solicit genuine offers, facilitate a smooth sale and to get the job done in reasonable time.
Knowing when and how to best market your property for sale is just part of the skill and experience that comes from hiring a professional agent.
David Airey is president of the <a target="_blank" href="https://reiwa.com.au/home/default.aspx">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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What to expect if you are selling property in the lead-up to Christmas

<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

David Airey

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