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How well do you know House Rules? For today’s Friday Trivia, we test your reno reality TV recall.
<ol>
<li>Which two couples are in the final? 
</li>
<li>Which couple received the worst scores in the first challenge? 
</li>
<li>What is Maddi’s former profession? 
</li>
<li>Which House Rules contestants own this house? <img src="/images/2014/06/27/ruling-house-june-27-breakout.jpg" alt="House Rules contestants hardly on struggle street, say critics"> 
</li>
<li>How many children do Brooke and Grant have? 
</li>
<li>What far-north town do Maddi and Lloyd call home? 
</li>
<li>Adam and Lisa received a little too much of what décor feature when their house was renovated? 
</li>
<li>Which House Rules couple has split since the show finished? 
</li>
<li>What did Bomber and Mel try, and fail, to install in Brooke and Grant’s boys’ bedroom? 
</li>
<li>What stalled Maddi and Lisa back in the first challenge? </li>
</ol>
The answers are on the next page. 
<hr class="system-pagebreak">
Think you know the show? See if you got your answers correct below.
<ol>
<li>
Which two couples are in the final? Adam and Lisa and Carole and Russell have both made it to the <a href="/expert-insights/building/who-will-you-vote-for-in-the-house-rules-grand-final">final challenge of </a><a href="/expert-insights/building/who-will-you-vote-for-in-the-house-rules-grand-final">House Rules</a>. 
</li>
<li>
Which couple received the worst scores in the first challenge? Adam and Lisa were the first round losers, thanks to a burnt orange and khaki green entrance and unfinished rooms. 
</li>
<li>
What is Maddi’s former profession? Maddi is a <a href="/expert-insights/building/swimwear-model-maddis-shoe-room-overhaul-as-house-rules-hits-tropical-pallarenda-townsville">former swimwear model. </a> 
</li>
<li>
Which House Rules contestants own this house? <img src="/images/2014/06/27/ruling-house-june-27-breakout.jpg" alt="House Rules contestants hardly on struggle street, say critics"> West Australian grandparents Russell and Carole <a href="/expert-insights/building/house-rules-contestants-hardly-on-struggle-street-say-critics">own this Halls Head home</a>, currently on the market for $1.17 million. 
</li>
<li>
How many children do Brooke and Grant have? Brooke and Grant have seven children between them. They all <a href="/expert-insights/building/tasmanias-biggest-bedroomed-home-listings-for-house-rules-brady-bunch-style-families">share a home in Tasmania</a>. 
</li>
<li>
What far-north town do Maddi and Lloyd call home? Maddi and Lloyd are Townsville residents. 
</li>
<li>
Adam and Lisa received a little too much of what décor feature when their house was renovated? The Melbourne couple asked for wallpaper in their House Rules – and their fellow contestants were <a href="/expert-insights/building/the-wallpaper-house-rules-in-home-decorating-he-said-she-said">more than forthcoming</a>, rolling out reams of clashing wall coverings for all over the house. 
</li>
<li>
Which House Rules couple has split since the show finished? Candy and Ryan have confirmed they are no longer a couple. 
</li>
<li>
What did Bomber and Mel try, and fail, to install in Brooke and Grant’s boys’ bedroom? Bomber and Mel made a valiant attempt at installing a rock climbing wall in Brooke and Grant’s house. Unfortunately, they didn’t factor in fall space, so were forced to go with a few “rocks”, before installing antlers on the wall. 
</li>
<li>
What stalled Maddi and Lisa back in the first challenge? Neither Maddi nor Lisa could drive the manual cars provided for them in the first challenge. The two women received a few driving lessons, before Channel Seven took pity on them and swapped their cars for auto versions.
</li>
</ol>
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jrichardson-uRX5hFdKfN

How closely were you watching? House Rules trivia

Don’t expect housing prices to always rise: Glenn Stevens

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A new report shows that home insurance companies are more profitable than banks in Australia.
The Fire Services Levy Monitor Allan Fells has called for greater competition in the industry.
“Insurance companies in Australia are more profitable than banks and this suggests an absence of effective competition. One of the things that would help drive effective competition is for consumers to be better informed,” said Fells.
Fells found that insurance consumers don’t have easy access to their coverage level, with no information about their risk assessment from insurance companies.
He called for a number of measures to improve transparency in the industry, including requirements that insurance companies:
<ul>
<li>Explain premium price changes when policies are up for renewal.</li>
<li>Provide more accessible information about what consumers are covered for under a policy and what they are not covered for.</li>
<li>Explain how they assess an individual’s risks like bushfire, flood and burglary – eg low, medium, high, very high risk.</li>
<li>Clearly indicate any statutory charges (eg stamp duty, GST, fire services levy), detailing them separately to the basic premium cost in the quote or invoice.</li>
<li>Explain what additional charges might be incurred as a result of choosing to pay insurance in instalments.</li>
</ul>
Source: The Office of the Fire Services Levy Monitor
According to Fells, Australia’s home insurance industry also need mandatory short form Product Disclosure Statements.
“Information about what is covered in the policy is often buried in a Product Disclosure Statement that are typically over 50 pages long,” said Fells.
“Other financial services products are subject to requirements to provide a more consumer-friendly, short-form Product Disclosure Statement.”
The Consumer Action Law Centre say the new report exposes “high profits, poor product and price disclosure and a severe lack of competition”.
Gerard Brody, chief executive of the Consumer Action Law Centre, says many people are paying too much for their home insurance due to industry practices, with the insurance industry promoting a false image of market competition by offering many brands.
“While there are many insurance brands in the marketplace, most consumers would not be aware that many brands are dominated by key insurers. The report finds that just three insurers—Suncorp Group, Insurance Australia Group, and QBE—had over 70% of the Victorian residential insurance in market in 2012-13,” says Brody.
He says consumers face difficulties comparing products due to complex and lengthy disclosure forms and unfair contract terms.
“For competition to be effective, we need simple products which can be easily compared with other policies. Comparing product disclosure statements is time consuming, difficult and, frankly, beyond the capabilities of many people,” says Brody.
"Policy terms and exclusions also need to be fair. We’ve seen a caravan insurance policy which said the owner wasn’t covered if the caravan was being towed. This type of ridiculous term can be hidden away in a policy document which is why it’s so important to understand your policy,” he says.
“But if consumers have to go through each contract with a fine tooth comb looking for hidden terms, they’re just going to tune out.”
The Consumer Action Law Centre receives a distribution of over-collected fire services levies, as agreed between the Fire Services Levy Monitor and insurers.
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Big profits, bad disclosure in home insurance industry

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Voting is now open to decide the winner of House Rules Season Two.
Last night, Melbourne couple Adam and Lisa proved they are underdogs no more, taking the first spot in the top two for the series grand finale.
They’ll be competing against Perth grandparents Carole and Russell, after couple-no-longer Candy and Ryan were eliminated in a challenge to renovate a holiday home into a Barnardos Australia charity home for foster families.
Carole and Russell have borne the brunt of recent criticism over the authenticity of House Rules’ contestants’ “Aussie battler” status with the <a href="/expert-insights/building/house-rules-contestants-hardly-on-struggle-street-say-critics">discovery of their $1.17 million canal-front home</a>, which is currently on the market. They narrowly beat out Candy and Ryan by just one point, scoring 17 out of 20 for this challenge.
The two teams experienced plenty of distracting drama this week, with Candy and Ryan forced to redesign a room after the Western Australian team changed their minds about the design of a shared wall. Candy and Ryan failed to complete several zones of the home, following Candy’s dramatic hours-long storm off site.
Lisa and Adam received a 9/10 score from both judges, Joe Snell and Wendy Moore.
Now, Lisa and Adam are set to transform a “secret room” in Russell and Carole’s home, while the West Australian couple will travel to Melbourne to do the same at Lisa and Adam’s house.
The judges will score each room out of 10, making up 50% of the final tally for the teams. The remaining half will come from public voters, who are asked to vote for a team based on their work throughout the season at the<a href="https://au.tv.yahoo.com/house-rules/vote/" target="_blank"> show’s website</a>. 
Voting opened at 11:15pm last night and will close at 4:30pm this Sunday 6 July. There is a limit of 10 online votes per person. The winning team will have their mortgage paid off.
Who will you be voting for?
{module Which team deserves to win House Rules?}
Photo courtesy of Channel 7.
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Who will you vote for in the House Rules grand final?

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For those who are after a fancier breed of farms, there are plenty of Australian truffieres on the market.
Earlier this week, New South Wales farmer found a whopping 1.172 kilogram black truffle, taking Title Tattle on a trip through the NSW Southern Highlands for <a href="/news/southern-nsw-truffle-producing-properties-where-to-buy-into-the-truffiere-trend">other truffle bearing properties</a>.
But there are truffle farms to be found all across the southern half of Australia, if you (or your pig) know where to look.
Victoria
<a href="https://www.realestate.com.au/property-house-vic-apollo+bay-115631335" target="_blank">415 Sunnyside Road, Apollo Bay</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/07/03/2.jpg" alt=""> This Apollo Bay truffle farm offers about a hectare of 200 oak trees, each inoculated with Pernigold Black Truffle in 2001. Sunnyside Road has been producing black truffles for the past seven winters, with 30 kilograms of truffles harvested last year.
Owners Mikhiala Slade and Steve Earl, of the nearby restaurant La Bimba, moved into the 36 hectare property in early 2010, using a Wessex saddleback (pictured below), to sniff out the treasured truffles that were already harvested on the property. In 2011, Earl told The Australian that Dolores the pig identifies hundreds, or even thousands, of dollars’ worth of truffles every year. <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/07/03/2a.jpg" alt="">
The main residence is a double storey cedar construction home, with three bedrooms and, of course, an impressive kitchen. There’s also a two bedroom self-contained home on the property, for visiting relatives and friends.
The farm has plenty of other crops aside from the truffles – there is a berry patch, a vegetable garden and orchard with pear, apple, lemon, plum, quince, persimmon and kiwi fruit trees.
The sprawling estate also stocks a 45 heads of cattle and a flock of sheep. Beyond the main farm, there are fern gullies and pools, complete with stone paths and picnic areas. Slade and Earl are hoping for $2.35 million for their estate.
Tasmania
<a href="https://www.realestate.com.au/property-lifestyle-tas-westbury-7660367" target="_parent">Tulloch Lodge, 1 Dexter Street, Westbury</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/07/03/4.jpg" alt=""> While Gai Waterhouse’s Tulloch Lodge may be a little better-known than this one, Tulloch Lodge in Tasmania is also a high class horse haven.
The estate at 1 Dexter Street, Westbury currently operates as a dressage establishment, with an Olympic sized arena, six stables and a wash bay, with horse safe fencing and shelter for every paddock.
A single storey colonial homestead sits on the property, with four bedrooms and three bathrooms.
The 3.57 hectare estate also holds a full sized tennis court and a 700 tree truffle orchard.  It’s located on the outskirts of Westbury, a 1,476 person strong town 30 kilometres west of Launceston. The farm is on the market for $695,000.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
South Australia
<a href="https://www.realestate.com.au/property-acreage+semi+rural-sa-montacute-113841815" target="_blank">Montacute</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/07/03/1.jpg" alt=""> This 10 acre farm doesn’t just grow truffles, but also two acres of Shiraz and Sauvignon Blanc grape vines, which are used to create the property’s unique vintage, providing for, as the listing says, “the budding vigneron”.
There are other natural fruit trees on the property, including cherry trees.
The farm’s recently renovated homestead has five bedrooms and two bathrooms, with a vast open plan living and dining area. Outside, there’s a woodfire pizza oven – perfect for cooking your own truffle-adorned pizzas while you sip some of your own personal vintage of Sauvignon Blanc.
The Montacute farm is on the market for $799,950.
Western Australia 
<a href="https://www.realestate.com.au/property-lifestyle-wa-pemberton-7653163" target="_parent">7721 Stirling Road, Pemberton</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/07/03/5.jpg" alt=""> The state that hosted the annual <a href="https://www.trufflekerfuffle.com.au/" target="_blank">Truffle Kerfuffle</a> festival just last weekend is home to plenty of truffle farms.
This truffiere in the south West Australian town of Pemberton is one such property. Five years ago, the owners planted 50 oaks infused with truffles on the property. According the Australian Truffle Growers Association, “black diamonds” commonly begin to appear about four or five years after planting, depending on the technology used, which means that the buyer might be in for quite the housewarming gift.
There is also a small orchard on the property, and plenty of grazing room for future livestock. Like the Montacute farm, there is also a small vineyard on site, with a purpose built wine shed that has allowed the owners to produce their own wines. With three dams on site and water flowing all year, this West Australian farm offers plenty of agricultural prospects for the future owners.
The 27 hectare farm also contains a solar powered timber mill cottage, with water and valley views. It’s on the market with mid $700,000 expectations.
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On the hunt for Australia's truffle farms

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A new Sydney to Hamilton Island flight service coincides with the launch of a brand new Whitsundays luxury resort.
Tourist spending in the Whitsundays increased to $706 million last year, up 14%. Acting Minister for Tourism Tracy Davis is optimistic about the future of the region, with the new Qantas flights and the newly launched One&amp;Only Hayman Island resort.
“Qantas’ decision to commence two return weekly services between Sydney and Hamilton Island will open the skies to more than 10,000 additional visitors a year,” said Davis.
“Both Qantas and resort operator One&amp;Only clearly believe the future’s bright for tourism in Queensland and I certainly agree with them.
“The Queensland government’s 20-year plan for tourism, Destination Success, outlines the need to deliver quality experiences that delight customers – and that’s exactly what’s happening today in the Whitsundays.
“We have a strong plan for a brighter future and we’re working hard to achieve our goal of doubling annual overnight visitor expenditure to $30 billion by 2020.”
Vistors to the Whitsunday increased 7% last year, to 687,000, according to local Member Jason Costigan.
“This is the beginning of an exciting new tourism era for a place that I call Paradise with increased access into the region and the opening of the new luxury One&amp;Only resort,” Costigan said.
“My electorate warmly welcomes visitors to our magnificent backyard and the support they will give to local businesses,” he said.
Lyell Strambi, chief executive of Qantas Domestic, said the flights now allow passengers from Sydney to enjoy “direct access to one of the country’s most iconic holiday destinations.”
“Our new service also gives these customers a premium aviation product to complement Jetstar’s existing flights as part of our two-brand strategy,” said Lyell.
Hayman Island is owned by Mulpha Australia, who invested $80 million into the private island resort, and managed by Kerzner International. This is the first Asia Pacific venture for One&amp;Only, which has resorts in Mexico, Dubai, South Africa, the Bahamas, Mauritius and the Maldives.
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Qantas' new flight service to bring tourists to Hayman Island

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An art deco icon of the Great Ocean Road, the Lorne Theatre, sold to an anonymous buyer.
The theatre, built in 1937, was offered for the first time since it was purchased by the vendors in the 1960s, with vendors <a href="/expert-insights/buying/iconic-lorne-theatre-up-for-auction-tomorrow-with-2-5-million-plus-hopes">expecting bids over $2.5 million</a>.
Some Lorne residents have been worried that the sale will bring an end to the landmark cinema. While the theatre was on the market, a public meeting with Heritage Victoria was held to discuss potential development on the site.
Prior to the sale, selling agent Shaun Venables of Burgess Rawson told Property Observer that developers were among the potential buyers, but that most were keen to retain some aspect of the theatre’s heritage.
“Most of the developers we’ve spoken to are sympathetic to the theatre’s current use – they’re considering redevelopment, rather than development,” Venables told Property Observer.
According to Venables, the 530 seat theatre had only been filled once in the past 25 years.
The cinema’s lease is due to finish in 2016, with the operators paying $78,180 a year in rent. The 715 square metre corner site has 56 square metres of dual frontage onto the Great Ocean.
Meanwhile, another Lorne site with development potential and Great Ocean Road frontage is currently on the market.
Colliers International’s Jonathan Lumsden and Andrew Lewis are selling a 3,480 square metre site at 14-16 Great Ocean Road, a three minute drive from the Lorne Theatre.
The Residential 1 zoned plot with a 1980s style five bedroom, two bathroom house at <a href="https://www.realcommercial.com.au/property-land+development-vic-lorne-501171687" target="_blank">14-16 Great Ocean Road</a> (pictured below) will be auctioned this Saturday.
<img src="/images/2014/07/02/colliers.JPG" alt="">
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Iconic Lorne Theatre sold

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The latest results from the <a href="https://myrpdata.com" target="_blank">RP Data-Rismark Home Value Index</a> are, as usual, packed with useful information for property investors.
Here are 10 figures you should keep an eye on:
<ol>
<li>
1% With 1% capital growth for homes over the three months to June, Sydney was the best performing capital city last quarter. 
</li>
<li>
-2.4% Melbourne has the dubious honour of taking out the bottom spot for capital growth, with homes falling 2.4% over the last quarter. 
</li>
<li>
$328,250 Hobart’s median dwelling price of $328,250 makes it the most affordable capital city market in the country. 
</li>
<li>
6.1% The highest rental yields for any capital city were found in Darwin, with a yield of 6.1% for houses and 5.9% for units. 
</li>
<li>
3.4% Despite dwelling values increasing by 23.1% since the end of May 2012, Sydney’s showed relatively modest long term growth. Its home values have only increased by 3.4% per year for the past 10 years. It’s the second lowest rate of annual growth of any capital city, just ahead of Hobart at 2.2%. 
</li>
<li>
$468,000 The median unit price for Melbourne i<a href="/news/vic/what-can-you-buy-for-melbourne-s-median-unit-price">s now $468,000</a>.  Some commentators, <a href="/expert-insights/buying/melbourne-residential-unit-market-oversupplied-and-its-going-to-get-worse-terry-ryder">including Observer Terry Ryder</a>, think Melbourne’s unit market is plagued by oversupply, with property values to fall in the future.  
</li>
<li>
4.3% Melbourne has the lowest yields of any capital city, with gross yields averaging 3.4% for houses and 4.3% for units. 
</li>
<li>
10.6% The middle 50% of the capital city market is showing the highest rate of annual change of any market segment, with 10.6% increase in dwelling values over the past year. Values for the lowest end of the market are up 8.8%, while the most expensive markets increased 10.3%. 
</li>
<li>
7.0% Brisbane home values have increased 7% in the past twelve months. RP Data says that after “relatively sedate” conditions in the city, values are now “gathering some pace.” 
</li>
<li>
5.6% Adelaide saw the smallest capital gain in the current growth cycle, with home values increasing just 5.6% since the most recent market trough. 
</li>
</ol>
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Property values: 10 numbers to know

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Foreign investment into Australian real estate has attracted more attention than almost any other housing issue in recent times.
Some believe that foreign investors are responsible for rising home prices. Others, like Malcolm Gunning of the Real Estate Institute of New South Wales, claim foreign investors are helping Australia’s economy.
Property Observer asked the experts, "What should be done about property investment from foreign buyers?"
Terry Ryder, Hotspotting.com.au founder<img src="/images/2014/07/02/Terry-Ryder-profile.jpg" alt="" style="float: right;">
Nothing. There is nothing Australia needs to do about foreign investment in Australian real estate.
This is a non-issue. Foreign investment is a minor part of the total property buying landscape and is generally confined to high-rise apartments in the inner-city areas of the major capital cities, plus the Gold Coast.
The claim that they are pricing young Australians out of home ownership is quite ridiculous. Foreign investors (for foreign, read Chinese) are not buying in the same areas as typical first-home buyers. They buy prestige homes and high-rise inner-city apartments.
As I have commented in the past, some people have an issue with foreign investment but only when it comes from Asia. The last time this was an issue was in the 1980s when Japanese investors were active. Until recently, the biggest source of foreign investment in Australian real estate was the United States and no one had a problem with that.
The only step I would like to see taken on foreign property investors is to advise them that, in many cases, they are being sold dud real estate. Many are buying in the over-supplied inner-city markets of Melbourne and are likely to have a bad result. This could have repercussions for the wider market, as rents are likely to fall and prices may follow.
Shane Oliver, AMP Capital chief economist<img src="/images/2014/07/02/shane-oliver-profile.jpg" alt="" style="float: right;">
There’s less of an issue than many think. There probably are issues around it. And it’s right, I think, to look into whether it’s too easy for wealthy foreign investors to buy into our property market, but never live in the property, but never rent it out.
 I think it’s grossly overstated. These things seem to come up every time there’s a surge in property prices, and Australians like to look to rich people or foreign buyers as a cause.
It seems to me that we’re seeing a pretty normal cycle. Prices were low, interest rates are low, people go to the bank to borrow some money, the banks lend them money, they buy houses, prices go up.
If those things hadn’t happened, if we hadn’t seen the normal cycle dynamic and it was all foreign buying or SMSF [Self Managed Super Fund] buying, then I’d be concerned. But prices are picking up in places where there aren’t foreign buyers.
The bulk of Chinese buying is concentrated in particular suburbs. It tends to be in ritzy areas – in Sydney’s it’s the lower north shore and the eastern suburbs.
And they’re not the places where first home buyers are.
I think there’s a case to look at it, to see if it’s too easy. We have arrangements in Australia where we seem to encourage investment in our assets as a way to gain entry to Australia. So we need to see if those lead to a distortion in our property market.
The chief policy focuses to help the property market should be to decentralise our cities and our population, and to make land more freely available for development. 
This article continues on the next page. Please click below.
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Andrew Wilson, Domain Group senior economist, 2UE's The Property Hour expert<img src="/images/2014/07/02/wilson-profile.jpg" alt="" style="float: right;">
Much media attention has been directed recently to the level of foreign buyers of Australian real estate – particularly in regard to the Sydney housing market.
Sydney has experienced decade high prices growth the over the past 12 months as record low interest rates have improved affordability, released pent-up demand and activated investors chasing the re-emergence of capital gains.
The drivers of strong prices growth in Sydney and other capitals to a lesser degree have clearly been local changeover buyers and investors rather than has been suggested in some quarters, activity from foreign buyers, particularly from China.
The foreign investment rules are clear - investment in established residential real estate is restricted to those with some form of residency status and therefore by definition not foreigners. Foreigner investors may only buy new property or property that must be redeveloped as new within strict guidelines.
Foreign investment in new residential real estate however is a positive as it adds to the stock of housing which is a benefit in particular for the Sydney market where relatively high prices are a product of an underlying shortage of housing. And temporary resident students who purchase residential real estate add to local economic activity directly through the payment of tuition fees and indirectly as consumers.
Latest FIRB statistics reveal the small scale of foreign investment in Australian residential real estate with 11,668 transactions over the 2012-13 financial year which accounted for just 2.7 percent of total sales over that period.
Andrew Taylor, Juwai.com co-chief executive<img src="/images/2014/07/02/andrew-taylor-profile.jpg" alt="" style="float: right;">
I think the debate about foreign investors is really misplaced anxiety about insufficient supply. I met a woman recently. She was Australian born, of Chinese descent. She told me that when she was property hunting, she got nasty looks at auctions from other buyers. Is that the kind of Australia we want to live in?     Here are the three facts that matter. First, the RBA says that foreign investment creates new housing supply for Australians, by making new construction possible. In a market that has long been starved by a housing shortage, that’s great news. It suggests if we are really worried about affordability, Australia needs more foreign investment, not less.    The second fact is that foreign investment in Australian real estate is actually plummeting. It fell by 18% between 2011 and 2013. That's according to the government's own statistics. What’s wrong with Australia that would cause almost one fifth of foreign investment dollars to abandon the country?
American, Singaporean and British investors all cut their investment by half or more. Among the top overseas investors, only the Chinese have not abandoned Australia. Without the Chinese, foreign investment in Australian property would be lower, supply would be lower and prices would be higher.    So, what should be done about foreign investors? We should welcome them into our country because they make more housing available and thus hold down prices for first home buyers.
This article continues on the next page.
<hr class="system-pagebreak">
The following is Patrick Bright's submission to the senate enquiry into foreign investment.
<img src="/images/2014/07/02/Patrick-Bright-porfifle.jpg" alt="" style="float: right;">Patrick Bright, EPS Property Search Director
I own a Sydney based real estate buyer’s agency, which has been operating since 2001. Over the last 13 years I have represented hundreds of clients and purchased more than $500 million worth of property for home buyers and investors.
As an Australian citizen I am greatly concerned about the current FIRB policy.
It allows foreigners to purchase:
• up to 100% of a new development that has FIRB approval;
• as many new properties as they like;
• established housing with few restrictions.
The question must be asked as to why the government has a policy in place that effectively imports additional pressure onto our housing market when the Housing Industry Association statistics consistently show that Australia has an undersupply of housing to meet the current demand which is already contributing to strong price rises.
The two main concerns I have with the current policy are that it's inflationary and that it will create a generation of renters which will result in other knock on social issues down the track.
There is no doubt that under the current arrangement we are seeing prices being pushed up higher and faster than they otherwise would be without foreign buyers thereby creating an inflationary effect; this is particularly evident in my home town of Sydney however statistics clearly show it’s happening in other states as well. Over the past decade, in particular since 2008 when the FIRB laws were changed to their current state, I have experienced increasing competition as a result of foreign buyers in the real estate market when buying established property.
The National Australia Bank Quarterly <a href="https://business.nab.com.au/quarterly-australian-residential-property-survey-q1-%202014-6136/" target="_blank">Australian Residential Property survey</a> statistics on foreign investment clearly correlate with my experiences with results consistently showing an increase in foreign investment. The latest quarterly survey released in April this year found “A big pick up in foreign buying activity was noted in the market for new property (especially in Queensland) and for established housing (especially in NSW). In terms of total demand, foreign buyers now account for just over 1 in 7 new properties and around 1 in 10 established homes.”
As a nation we have prided ourselves on giving all Australians a fair go. In contrast this current situation is pricing many would be Australian home buyers and investors seeking to secure their future out of the market. It is forcing many to rent now who would otherwise like to purchase and I strongly believe this has already started to increase the percentage of generation X and Y who will never buy a property diminishing for many the great Australian dream of owning their own home.
The flow on effects of the current policy must also be examined as we are likely to see a larger percentage of these generations become far more financially dependent on the government come retirement having not established the financial security of buying and paying off their own home.
Financial modelling for self funded retirees or retirees who need to rely on the age pension has the assumption that they have paid off their home. If they are still renting then it's likely they will require an additional million dollars in super or other investments (be that cash, shares or property) to fund their rental costs, for the rest of their lives. If they don't then it’s highly likely they will be dependent on some form of government housing or additional government financial support to pay their rent.
It's well understood that once families are dependent on welfare it often becomes generational. Clearly more people being dependent on Government financial support is not in Australia's short or long term interest.
My recommendations for adjustments to the policy are that:
<ol>
<li>
The percentage of property allowed to be sold to foreigners must be reduced to a less inflationary level of under 10% for each individual new development
</li>
<li>
Limits need to be put in place as to how many properties any given individual foreigner or corporations that are controlled by or have common foreign shareholders can purchase.
</li>
<li>
Remove the ability for foreigners to be able to purchase established property as this does not add to the housing market or boost the construction industry in any way, it just increases competition for Australian citizens and permanent residents.
</li>
</ol>
These improvements would still allow for some degree of foreign investment. It would also give Australian citizens who just can’t compete with wealthy foreigners the opportunity they deserve to enter the Australian property market as a home buyer or as an investor seeking to secure their own financial future so they will be less dependent on government when they retire.
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Exclusive: What should be done about foreign investment in Australian real estate?

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Melbourne units sold for a median price of $468,000 for the quarter to June, according to RP Data.
The newly released figures in RP Data-Rismark’s Daily Home Value Index for June show that Melbourne units displayed 2.7% capital growth. However, with a 2.4% drop over the quarter to June, Melbourne units have seen no actual capital growth in the year to date.
Property Observer looks at some recent sales of townhouse villas, units and apartments to see what exactly $468,000 will buy you.
<ol>
<li>
<a href="https://www.realestate.com.au/property-apartment-vic-prahran-117088995" target="_blank">6/8 Grandview Grove Prahran</a>
 <img src="/images/2014/07/02/1.jpg" alt="">
This one bedroom apartment with a car space is located in the inner south-eastern suburb of <a href="/news">Prahran</a>. It was sold for $468,000 last month.
The north facing apartment has a lounge, separate kitchen and dining area, and a double bedroom with built in robes.
In twenty years, it has more than quadrupled its value – the vendors purchased the home for $95,000 in 1994.
Price: $468,000
Bedrooms: One
Drive to CBD: 20 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-vic-carrum-117002651" target="_blank">25A McLeod Road, Carrum</a>
 <img src="/images/2014/07/02/2.jpg" alt="">
Located in Melbourne’s south-east, this <a href="/news">Carrum</a> free-standing unit sold for $470,000 in June.
It has three bedrooms, two bathrooms, and a separate lounge area.
The unit, with a double carport, shares the block with one other unit, and is within walking distance of the beach.
Price: $470,000
Bedrooms: Three
Drive to CBD: 43 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-vic-pascoe+vale-116887055" target="_blank">3/385 Gaffney Street Pascoe Vale</a>
 <img src="/images/2014/07/02/4.jpg" alt="">
This single level brick unit sold for $465,000 at the beginning of June.
Located in the northern suburb of <a href="/news">Pascoe Vale</a>, the three bedroom home is close to the Pascoe Vale shops, train station, Citylink and in the <a href="/news">Strathmore</a> school zone.
Price: $465,000
Bedrooms: Three
Drive to CBD: 22 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-vic-footscray-116809915" target="_blank">G05/277-287 Barkly Street Footscray</a>
 <img src="/images/2014/07/02/5.jpg" alt="">
In the fast-gentrifying inner Western suburb of <a href="/news">Footscray</a>, this ground floor apartment has two bedrooms and one bathroom. It sold for $465,000 last month.
Located in the Barkly Theatre Apartments, the open plan apartment has its own private outdoor entertaining areas, a galley style kitchen and secure parking.
Price: $465,000
Bedrooms: Two
Drive to CBD: 18 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-vic-blackburn-116800915" target="_blank">2/194 Surrey Road Blackburn</a>
 <img src="/images/2014/07/02/6.jpg" alt="">
This eastern suburban unit sold for $460,000.
The brick villa with two bedrooms and one bathroom is within walking distance of <a href="/news">Blackburn</a> Village, the train station, primary schools and buses.
The vendors bought the unit for $315,000 in 2008. Price: $460,000 Bedrooms: Two Drive to CBD: 27 minutes
</li>
</ol>
</body></html>

What can you buy for Melbourne’s median unit price?

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Jessie Richardson

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