<html><body>
The Australian Tax Office is targeting the 1.8 million people who own an investment property, Mark Chapman director of Tax Communications at H&amp;R Block says.
"The latest ATO figures reveal that investment property owners claim on average $25,717 in deductions covering interest on loans, the write-off on capital works and other items.  
"In more than two-thirds of cases, that's enough to produce a net loss which taxpayers are then offsetting against their other income.
"Given that the amounts at stake are increasing every year, it's not surprising the ATO is worrying about the loss of revenue," he said.
"Whether it's a commercial property, a city pad rented out long term or a holiday retreat for family, friends and holidaymakers, the ATO has signalled a big push to check that people aren't over-claiming tax deductions.
"At the forefront of the campaign, the ATO has recently stated that it will be writing to property investors who own properties in popular holiday areas to remind them to claim only the deductions to which they are entitled.
He said rental property owners should only claim for the periods the property is rented out or is genuinely available for rent.
"This is particularly important for holiday homes, where the ATO regularly finds evidence of home-owners claiming deductions for their holiday pad on the grounds that it is being rented out, when in reality the only people using it are the owners, their family and friends, often rent-free."
"Also, the costs to repair damage and defects existing at the time of purchase or the costs of renovation cannot be claimed immediately.  
"Instead, these costs are deductible over a number of years. Expect to see the ATO checking such claims and pushing back against claims which do not stack up.
"The ATO is concerned that husbands and wives are in some cases splitting income and deductions so the bulk of the tax benefit goes to the higher-earning spouse, even though the property is actually owned 50:50."
He said the ATO now has access to numerous sources of third party data, including popular rental listing sites for both long term and holiday rentals, so it is relatively easy for them to establish if a claim that a property was "available for rent" is correct." 
</body></html>

jchancellor-FAypfDUnLy

ATO watching holiday home tax returns

<html><body>
<div class="page" title="Page 4">
<div class="layoutArea">
<div class="column">
The latest Victorian Property Sales Report - covering the December 2014 quarter - has been released this month.
</div>
</div>
</div>
<div class="page" title="Page 5">
<div class="layoutArea">
<div class="column">
The median price of houses in Victoria increased by 6.7% from $450,000 to $480,000 over the December 2014 quarter. 
For the 12 months from December 2013 to December 2014, the median house price in Victoria increased a more modest 2.1%. 
The median price of units in Victoria increased by 5.9%, from $425,000 in the September 2014 quarter to $450,000 at the end of the December 2014 quarter.
 For the 12 months from December 2013 to December 2014, median unit prices increased 2.3% from $440,000.
Metropolitan Melbourne sales statistics for the December 2014 quarter show increases of 6.5% to $570,000 for median house prices, 5.6% to $475,000 for median unit prices. 
For the 12 months to December 2014, median sales prices in metropolitan Melbourne showed increases of 0.9% for houses, 2.6% for units and 5.8% for vacant land.
In the December 2014 quarter the median house price in country Victoria increased by 5.2% from $290,000 to $305,000. Units increased by 6.4% to $250,000, and vacant land increased by 1.5% to $132,000. 
Over the 12 months to December 2014, median sale prices in country Victoria showed a 1.7% increase for houses, 2% increase for units and 2.6% decrease for vacant land. 
Of the 714 listed Victorian locations, 279 had median house price increases for the December 2014 quarter compared to 270 in the September 2014 quarter. Four localities recorded no change, 203 showed a decrease and 228 had insufficient sales. 
The highest number of house sales for the quarter was 230 in Berwick. 
There were 35 locations with 100 or more sales in the December 2014 quarter, the Victorian Valuer-General, Robert Marsh said.
The Victorian Property Sales Report represents 93% of sales across the state, based on official Notices of Acquisition.
</div>
</div>
<div class="layoutArea">
<div class="column">
The number of house sales so far recorded across Victoria for the December 2014 quarter is 22,255. 
The number of metropolitan sales for the quarter is expected to culminate at 17,557, which is 16.4 per cent higher than the September 2014 quarter and 9.6% higher than the December 2013 quarter.
</div>
</div>
</div>
<div class="page" title="Page 6">
<div class="layoutArea">
<div class="column">
The data indicates that the driving factor in the 6.5% increase in metropolitan Melbourne housing values were localities within 20km of Melbourne. 
The following table demonstrates the volatility in median house price changes and indicates the need for data analysts to undertake their own detailed research.
 
<div class="page" title="Page 7">
<div class="layoutArea">
<div class="column">
Inner suburbs (within 10 km of Melbourne CBD)
<a href="/images/2015/06/18/melbourne_inner.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/06/18/melbourne_inner.jpg" alt="">
</div>
</div>
<div class="layoutArea">
<div class="column">
Eastern Suburbs (10-20 km from Melbourne CBD)
<a href="/images/2015/06/18/700_melb3.jpg" target="_blank">Click to enlarge</a>
</div>
</div>
</div>
<div class="page" title="Page 8">
<div class="layoutArea">
<div class="column">
<img src="/images/2015/06/18/700_melb3.jpg" alt="">
</div>
</div>
Western suburbs (10–20 km from Melbourne CBD)
</div>
<div class="page" title="Page 8"> </div>
<div class="page" title="Page 8"><a href="/images/2015/06/18/Screen%20Shot%202015-06-18%20at%2011.35.28%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="page" title="Page 8"> </div>
<div class="page" title="Page 8"><img src="/images/2015/06/18/Screen%20Shot%202015-06-18%20at%2011.35.28%20AM.png" alt=""></div>
<div class="page" title="Page 8">
<div class="layoutArea">
<div class="column">
Outer-western suburbs (20+ km from Melbourne CBD)
<a href="/images/2015/06/18/outer_West.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/06/18/outer_West.jpg" alt="">
</div>
</div>
</div>
<div class="page" title="Page 9">
<div class="layoutArea">
<div class="column">
Outer-eastern suburbs (20+ km from Melbourne CBD)
<a href="/images/2015/06/18/outer_east.jpg" target="_blank">Click to enlarge</a><img src="/images/2015/06/18/outer_east.jpg" alt="">
</div>
</div>
</div>
</div>
</div>
</div>
<div class="page" title="Page 9"> </div>
</body></html>

6.5% quarterly increase in Melbourne housing values led by inner 20km suburbs: Valuer General

<html><body>
The NAB's head of retail banking Gavin Slater forecasts slower growth in investor lending under the APRA crackdown would not significantly affect the Sydney property boom.
Gavin Slater was reported by Fairfax Media as saying the Australian Prudential Regulation Authority was not trying to influence price growth by imposing a 10% annual speed limit for investor credit growth. "I don't think where we're heading, around looking to moderate growth to under 10 per cent, at an industry level, will have a significant impact on asset prices themselves, but that's not the intent of the action," Slater said.
The banking regulator's 10% a year cap investor credit growth will have little impact on house prices, which are being driven by strong demand and a lack of supply, says National Australia Bank. Gavin Slater said prices would continue to be supported by strong buying, including from overseas.
Bloomberg reported Slater saying markets such as Sydney were struggling with undersupply amid "significant" foreign demand.
"All lenders are responding to the macro-prudential guidelines," Mr Slater said at a business lunch in the city.
"I don't believe it will have an impact on house prices."
 
</body></html>

Overseas buyers will support Sydney house prices during APRA crackdown: NAB

<html><body>
Pharmacists Gary and Mary Smoker have relisted their Mosman trophy home, Ardagh.
It had initial $15 million hopes through Brendan Warner of Raine &amp; Horne Mosman, but is now listed through Richard Harding at LJ Hooker who says there had been only five owners in a rich 110 year history, "truly one of the North Shore's finest family estates."
<a href="https://www.realestate.com.au/property-house-nsw-mosman-119904045" target="_blank">Set on 2700 square metres</a>, the seven-bedroom Federation mansion with pool and tennis court was built in 1905.
In 1922 it was bought by former British trade commissioner John Adamsand his wife Gwynneth who sold it in 1964 to pianist John Champ.
Smoker, a former Mosman alderman, bought the Prince Albert Street property in 1993 for $1.7 million. 
</body></html>

Ardagh, the Mosman trophy home relisted

<html><body>
The Vaucluse waterfront trophy home, Loch Maree, home of entrepreneur Duncan Saville and wife Julie, has been relisted.
Sotheby's agent Michael Pallier and BradfieldCleary's Bob Guth initially had $30 million-plus hopes in 2012, then $25 million. Now still $25 million.
The Saville family's 2311-square-metre Vaucluse waterfront estate comes with a vast modernist mansion built in the early 1970s for the late Gordon Barton, founder of IPEC.
<a href="https://www.realestate.com.au/property-house-nsw-vaucluse-111549419" target="_blank">Designed by architect Michael Dysart</a>, it has had only two owners since it was built.
After Barton experienced financial troubles, the property sold in 1993 for $4.75 million after being on the market for three years.
Hidden from view by established gardens, the property has two entrances, Loch Maree Place and Coolong Road.
It comes with self-contained staff accommodation, a floodlit north-south tennis court, a pool, a simulated golf driving range, garaging for six cars, and a boat shed.
The original Loch Maree - which up to the 1950s was a private girls' school - was owned by society photographer Joe Fallon and wife, Desiree.
Title Tattle recalls Fallon became friendly with Prince Philip, who even bunked down in the historic limed-redwood boathouse. 
The Queen and Prince Philip in 1954 officially visited the nearby Albert family's Coolong Road house. 
On February 2, 1954, the Sydney Morning Herald noted that the Duke "slipped away unofficially" with three of his staff to visit his old mate. 
Three days later, the Herald reported the Duke's return visit to Fallon's place where, with 50 other guests, he spent much of the evening swimming in a floodlit pool and listening to the Hawaiian guitars entertainment. 
As Prince Philip of Greece, the Duke had been there before, Valerie Lawson wrote many years later in the SMH.
In 1946, as a young naval lieutenant, the then yet to marry Philip met Fallon, who lent him the redwood boating shed at Loch Maree.
Fallon subdivided the property and sold a large waterfront to the diamond merchant Albert Joris.
Joris in turn sold it to Gordon Barton in 1966, who remained in Morella Place, Castle Cove, until the Michael Dysart-designed residence was completed in 1972 at a cost of $280,000. 
</body></html>

Loch Maree, the Dysart-designed Vaucluse harbourfront seeks third owner

<html><body>
Set in the heart of the Kings Cross entertainment precinct on Kellett Street, The Powder Keg premises have been sold at $1,712,000.
Its lease came with a net income $122,000 per annum plus GST. There was fixed rental growth of 4% per annum for the 150 sqm space that included valuable outdoor area of 19 sqm. 
It was marketed as a "rare opportunity to purchase a high quality long term investment in this tightly held retail precinct," by James Griffiths at LJ Hooker Commercial.
It is leased to the international award winning Grant Collins, the food and beverage consultant with a new high quality fit-out from Edge Design Studio on a new 6 plus 6 year lease.
</body></html>

Kings Cross Powder Keg premises sold

<html><body>
The Abu Dhabi Investment Authority has sold its CBD Canberra hotel for $77 million.
The Novotel at 65 Northbourne Avenue was sold by the sovereign wealth fund owned by Emirate of Abu Dhabi.
According to Canberra Cityscope, the Novotel Canberra, which includes the Jolimont retail centre, was built in 1983.
The six-storey building with basement parking is a 286-room hotel that was refurbished and extended in 2009. 
The property last traded at $10 million in 1998.
 
</body></html>

Abu Dhabi sovereign wealth fund sells ACT hotel

<html><body>
The latest research from Perth Cityscope shows property sales have decreased in the past three months. Sales recorded in the quarter ending June 2015 totalled $10.3 million, a decrease from the $87.8 million recorded in the three months to March 2015, and a decrease from the $89.5 million recorded to December 2014.
This data brings the 12 month total to $391.6 million, a decrease from the $1.05 billion recorded the same time last year.
The table below shows sales recorded for the past eight updates of Perth Cityscope.
<a href="/images/2015/06/17/perth_cityscope.jpg" target="_blank">Click to enlarge</a>
<img class="aligncenter size-large wp-image-4916" src="https://blog.corelogic.com.au/wp-content/uploads/2015/06/Pulse-PRSalesGrid-580x265.gif" alt="Perth Cityscope Quarterly Sales" width="580" height="265">
Recent standout sales in Perth include:
<ul>
<li>195 Hay Street (map 20 property 33), a 3-level building with retail space on the ground floor, residential back packer accommodation on the first floor and basement parking for 8 cars, was bought for $2.7 million.</li>
<li>139 Barrack Street (map 8 property19), a single-storey retail building with room for one car to the rear, was bought for $1.5 million through Realmark Commercial.</li>
<li>716 Murray Street (map 25 property 11), a single-storey former house built circa 1900 and refurbished in 1997 with parking for 5 cars, was bought for $1.4 million through Burgess Rawson.</li>
</ul>
Properties for sale in Perth in June 2015 include:
<ul>
<li>53 Ord Street (map 35 property 1), an A-grade office building of 5 storeys with a 2-level car park and a building area of 6,864 sqm is for sale through CBRE.</li>
<li>Four Points by Sheraton Perth (map 1 property 2) at 707-713 Wellington Street, an 8-storey, 278-room hotel is for sale through CBRE.</li>
<li>Unit 19 (map 24 property 1A unit 19) at 160-162 Colin Street, part of the Blue Note Executive Offices, of 620 sqm on level one plus 13 car spaces on the basement level is for sale at $4.59 million through Burgess Rawson.</li>
</ul>
Significant leasing opportunities in Perth in June 2015 include:
<ul>
<li>45 St Georges Terrace (map 9 property 56), a building of 9 floors of office space, 2 basement levels and 2 levels of plant and equipment, has 329 to 2,504 sqm available for lease through CBRE and Sheffield Property Group.</li>
<li>Central Park (map 7 property 4) at 777 Hay Street, a 48-storey office tower plus 4 levels of basement parking has 500 to 8,779 sqm for lease through Savills and JLL.</li>
<li>32 St Georges Terrace (map 12 property 17), a 16-storey commercial building expanded in 2014 to 14,895 sqm, with basement car parking for 46 vehicles, has 200 to 7,242 sqm in the redeveloped building available for lease through JLL and Knight Frank.</li>
</ul>
<a href="https://mail.privatemedia.com.au/owa/14.3.224.2/scripts/premium/redir.aspx?SURL=bpzm6SgrrdSzgCJxHIIVSEJ7s3mrdGRcxYpgQ3c1a1AheJadvHbSCGgAdAB0AHAAOgAvAC8AYgBsAG8AZwAuAGMAbwByAGUAbABvAGcAaQBjAC4AYwBvAG0ALgBhAHUALwB3AHAALQBjAG8AbgB0AGUAbgB0AC8AdQBwAGwAbwBhAGQAcwAvADIAMAAxADUALwAwADYALwBQAHUAbABzAGUALQBQAFIAUwBhAGwAZQBzAEMAaABhAHIAdAAuAGcAaQBmAA..&amp;URL=http%3a%2f%2fblog.corelogic.com.au%2fwp-content%2fuploads%2f2015%2f06%2fPulse-PRSalesChart.gif" target="_blank" rel="wp-prettyPhoto[g4915]"><img class="aligncenter size-full wp-image-4917" src="https://blog.corelogic.com.au/wp-content/uploads/2015/06/Pulse-PRSalesChart.gif" alt="Perth Cityscope Quarterly Sales graph" width="532" height="321"></a>
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership and can be contacted <a href="https://www.corelogic.com.au/products/cityscope" target="_blank">here</a>. <a href="https://mail.privatemedia.com.au/owa/14.3.224.2/scripts/premium/redir.aspx?SURL=FIflEkWcByIy5Xi6efHKj9Fe4xPxYuHzgUe3KQQtEiEheJadvHbSCGgAdAB0AHAAOgAvAC8AdwB3AHcALgBjAG8AcgBlAGwAbwBnAGkAYwAuAGMAbwBtAC4AYQB1AC8AcAByAG8AZAB1AGMAdABzAC8AYwBpAHQAeQBzAGMAbwBwAGUA&amp;URL=http%3a%2f%2fwww.corelogic.com.au%2fproducts%2fcityscope" target="_blank" style="line-height: 1.3em;"> </a>
</body></html>

Perth office sales tally down $600 million: Cityscope

<html><body>
The latest research from Newcastle Cityscope shows that commercial property sales have decreased in the three months to June 2015.
The most recent quarter had 25 sales at a total value of $22.2 million, as compared to 26 sales totalling $38 million in the three months to March 2015, though it is an increase from the 13 sales totalling $21.8 million for the quarter to December 2014.
This latest data brings the total sales value in Newcastle Cityscope to $142 million for the year, a decrease from the $151.3 million recorded the same time last year.
The table below shows sales recorded for the last eight updates of Newcastle Cityscope.
<a href="/images/2015/06/17/700_newcastle.jpg" target="_blank">Click to enlarge</a>
<a href="https://mail.privatemedia.com.au/owa/14.3.224.2/scripts/premium/redir.aspx?SURL=-k3jv6bUmFJ4Jj4DEQXoOPvso3n6aIlUWa2vPi1XVxNaiqcAvXbSCGgAdAB0AHAAOgAvAC8AYgBsAG8AZwAuAGMAbwByAGUAbABvAGcAaQBjAC4AYwBvAG0ALgBhAHUALwB3AHAALQBjAG8AbgB0AGUAbgB0AC8AdQBwAGwAbwBhAGQAcwAvADIAMAAxADUALwAwADYALwBQAHUAbABzAGUALQBOAEMAUwBhAGwAZQBzAEcAcgBpAGQALgBnAGkAZgA.&amp;URL=http%3a%2f%2fblog.corelogic.com.au%2fwp-content%2fuploads%2f2015%2f06%2fPulse-NCSalesGrid.gif" target="_blank" rel="wp-prettyPhoto[g4923]"><img class="aligncenter size-large wp-image-4924" src="https://blog.corelogic.com.au/wp-content/uploads/2015/06/Pulse-NCSalesGrid-580x309.gif" alt="Newcastle Cityscope Quarterly Sales" width="580" height="309"></a>
Notable sales in the June 2015 update of Newcastle Cityscope include:
<ul>
<li>464-470 King Street , Newcastle West, a two-storey office building and an adjoining single-storey brick commercial building with a net lettable area 3,626 sqm mas bought for $3.85 million.</li>
<li>48-50 Hunter Street, Newcastle, a five-storey rendered brick building commercial with classical facade detail, built circa 1926 was bought for $3.745 million.</li>
</ul>
The most notable property for sale in Newcastle Cityscope in the June 2015 update is:
<ul>
<li>11 Argyle Street, Newcastle, a six-storey building with 342 cars with two levels of office space and a total net lettable area 5,002 sqm is for sale by expression of interest closing 18 June 2015 through Knight Frank and CBRE.</li>
</ul>
Leasing opportunities listed in the June 2015 update of Newcastle Cityscope include:
<ul>
<li>150-162 Wharf Road, Newcastle, a three-storey ferry building and two-storey wharf building, has 3,000 sqm of retail space for lease in June 2015 through Colliers International Newcastle.</li>
<li>A future development at 16-18a Honeysuckle Drive, Newcastle West has 7,000 sqm for lease in a future development on the site through Colliers International Newcastle.</li>
</ul>
<a href="https://mail.privatemedia.com.au/owa/14.3.224.2/scripts/premium/redir.aspx?SURL=yf6zTID0UnPyHU9SYksHj0YWxK458vqMHcQn8lGhudVaiqcAvXbSCGgAdAB0AHAAOgAvAC8AYgBsAG8AZwAuAGMAbwByAGUAbABvAGcAaQBjAC4AYwBvAG0ALgBhAHUALwB3AHAALQBjAG8AbgB0AGUAbgB0AC8AdQBwAGwAbwBhAGQAcwAvADIAMAAxADUALwAwADYALwBQAHUAbABzAGUALQBOAEMAUwBhAGwAZQBzAEMAaABhAHIAdAAuAGcAaQBmAA..&amp;URL=http%3a%2f%2fblog.corelogic.com.au%2fwp-content%2fuploads%2f2015%2f06%2fPulse-NCSalesChart.gif" target="_blank" rel="wp-prettyPhoto[g4923]"><img class="aligncenter size-full wp-image-4925" src="https://blog.corelogic.com.au/wp-content/uploads/2015/06/Pulse-NCSalesChart.gif" alt="Newcastle Cityscope Quarterly Sales Graph" width="532" height="321"></a>
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership and can be contacted <a href="https://www.corelogic.com.au/products/cityscope" target="_blank">here</a>. <a href="https://mail.privatemedia.com.au/owa/14.3.224.2/scripts/premium/redir.aspx?SURL=_pCOyVu-2ro81S9Q6yyJCTaqjkAX_XG9zRjjfOFcAvdaiqcAvXbSCGgAdAB0AHAAOgAvAC8AdwB3AHcALgBjAG8AcgBlAGwAbwBnAGkAYwAuAGMAbwBtAC4AYQB1AC8AcAByAG8AZAB1AGMAdABzAC8AYwBpAHQAeQBzAGMAbwBwAGUA&amp;URL=http%3a%2f%2fwww.corelogic.com.au%2fproducts%2fcityscope" target="_blank" style="line-height: 1.3em;"> </a>
</body></html>

Newcastle commercial property activity ticking over: Cityscope

<html><body>
Alexander Poulakis, from the high-end fashion house Harrolds, has secured a dilapidated heritage Melbourne CBD offering, with intentions for a mixed-use retail, food-hospitality and office lane way complex.
It is Melbourne's last surviving flour mill set amid the once-thriving garment manufacturing industry.
The three-level commercial building at <a href="https://www.realcommercial.com.au/property-retail-vic-melbourne-501549975" target="_blank">2 Mill Place</a>, off Flinders Lane, near University Arcade, dates back to the 1840s.
It sold at recent CBRE auction for $4.02 million.
Its vendor syndicate included Melbourne architect Peter Christoff.
The building was once the outlet of the Flemington Meat Preserving Company.
It is one of <a href="https://planningschemes.dpcd.vic.gov.au/schemes/melbourne/ordinance/22_lpp20_melb.pdf" target="_blank">233 Melbourne lane ways</a>.
 
<div class="page" title="Page 10">
<div class="layoutArea">
<div class="column">
 
</div>
</div>
</div>
</body></html>

Harrolds secures Melbourne lane way mill offering

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Joel Robinson

Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News