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Ramping up its supervision after the surge in property prices to the investor driven east coast property markets, Australian Prudential Regulation Authority chairman Wayne Byres has indicated the authority was aware of lending examples that were less than prudent.
“So there is no confusion, let me be clear that Australian ADIs (authorised deposit-taking institutions) are thankfully well away from the types of subprime lending that have caused so many problems elsewhere (for example, lending with an loan-to-value ratios in excess of 100 per cent, at teaser rates, to borrowers with no real capacity to repay),” he said.
“Nevertheless, our overall conclusion from this hypothetical borrower exercise was that there were clearly examples of practice that were less than prudent,” he told the recent Customer Owned Banking Association event, which was not open to media, but reported by The Australian.
“Authorised deposit-taking institutions with more aggressive practices should fully expect to find APRA increasingly at their doorstep," he said.
Meanwhile major lenders have been withdrawing discount offers extended to brokers on property investment loans. 
The Australian Broker website revealed today that two major banks have amended pricing discounts available to standard variable rate and fixed rate investment loans.
It is all part of the Australian Prudential and Regulatory Authority clamp down on current high lending levels of property investor loans.
National Australia Bank has also flagged a reduction in the discounts offered to property investor loans following the APRA request to keep investor loan growth below 10% per annum.
Available funds will be cut back "by at least a third" within weeks, John Symond, the founder and chairman of Aussie Home Loans believes as banks react to the regulatory authorities.
"Banks are going to be knocking back a lot of investor applications," <a href="/expert-insights/investing/tougher-apra-set-to-restrict-property-investor-lending-by-at-least-a-third-john-symond">he told Ross Greenwood on the 2GB Money News program this week</a>.
The Commonwealth Bank has reviewed its $1,000 Investment Home Loan Rebate Offer. “We will honour the offer for all Investment Home Loan applications, created by close of business on Friday 15 May,” the email read. The CBA announced reduced pricing discounts offered on investor loans, while stressing "heavier discounts very much remain available for Owner Occupied lending”. The ANZ head of third party relationship channels, Kieran Evans advised ANZ is carefully managing its home loan business to ensure its portfolio grows in a balanced way. “As a result, we will be introducing a range of changes to how we manage investor lending effective immediately,” he said. For customers with investor only lending, ANZ will only offer advertised rates – discretionary pricing will be not be available, the major said.
However, for customers with existing owner occupier lending with ANZ, the major will offer discretionary pricing on investor loans. Further, to offset the removal of investor switching discretions, Evans said ANZ have increased the owner occupier discretion to $1,200 and have reduced the eligibility to greater than $500,000.
Bankwest has made it harder for investors to secure loans, as APRA’s campaign on lending standards is taking effect.
Bankwest will now apply a maximum LVR of 80% for investment purposes, including property and shares, a departure from the bank well known for accepting investor loans up to 98% LVR.
The value of home loans written in March jumped 3.8 per cent to $31.3 billion, up 11.7 per cent over the year.
The March rise was principally by investor lending, up 6.4 per cent.
On an annual basis, investor loans were up 20.9 per cent rate, which was more than double the 10 per cent speed limit identified by APRA regulators earlier this year.
Banks have also been re-assessing the rental income levels that they are calculating when taking into account overall income of investors.
And making it tougher Westpac also foreshadowed changes which will impact investors’ serviceability with the bank removing negative gearing benefits from its servicing calculator.
FOR INFORMATION ON PROPERTY LOANS, RATES AND MORE, VISIT MOZO.COM.AU OR <a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/42368-get-loan-savvy-expert-tips-for-a-first-time-investment-or-refinancing-loan-in-a-free-ebook" target="_blank">CLICK HERE</a> FOR THE FREE PROPERTY OBSERVER EBOOK, GET LOAN-SAVVY – TIPS FOR A FIRST TIME, INVESTMENT OR REFINANCING LOAN, WHICH HELPS YOU DECIDE ON A HOME LOAN THAT MEETS YOUR REQUIREMENTS. 
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jchancellor-FAypfDUnLy

CBA, ANZ, NAB and Bankwest rein in lending to property investors

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The longtime rugby league commentator Steve “Blocker” Roach and his wife, Cathy have secured the $2.05 million sale of their East Ryde home.
The downsizing couple built the family home in 2004.
It is a <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-east-ryde-nsw-2113/256686" target="_blank">two-storey five-bedroom home </a>that backs on to the Field of Mars Reserve.
The couple are staying local.
John Paranchi from McGrath Hunters Hill secured the sale.
 
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Steve ‘Blocker’ Roach has recently launched a multi-tier fundraising initiative to help provide much needed funds for Junior Rugby League Clubs across NSW. 
The organisation - <a href="https://www.blockersbbq.com.au" target="_blank">Blocker’s BBQ Fundraising</a> – has as its central fundraising initiative, game day BBQ Boxes packed and delivered fresh to clubs.
The boxes include grass fed sausages, free range eggs, short cut bacon, sliced onions, sauces and napkins. 
The boxes are designed to save time for volunteers and ensure high-quality and consistent ingredients every week. 
They are priced to allow a minimum 200% profit for the clubs.
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Steve "Blocker" Roach sells East Ryde family home

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The asking price of the Muckleford, Victoria property with a green-and-yellow W-class tram as its centrepiece, has been reduced to $410,000.
The three-bedroom, one-bathroom home, <a href="https://www.domain.com.au/property/for-sale/house/vic/muckleford/?adid=2011451303" target="_blank">10 A Frame Track, Muckleford</a>, had been initially marketed at $439,000.
Set on 20 acres, 130 kilometres north-west of the CBD, the home has been fashioned around the tram including mud brick sections.
<div id="conditionalAd-300x250-pos-3">
<div id="google_ads_iframe_/6411/WATODAY/domain/realestatenews_13__container__"> The tram has been renovated to include multi-functional bedroom-study-living areas as well as a kitchen and dining area. </div>
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The trams were produced between 1923 and 1956 by the Melbourne and Metropolitan Tramways Board. 
Owner Gary Markoff paid about $1000 to buy the decommissioned vehicle and haul it to the country about 35 years ago.
Cantwell Property, Castlemaine, agent Genevieve Cantwell, is selling the home.
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Tram fare price at Muckleford comes down to $410,000

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Negative gearing becomes less effective as marginal tax rate lowers, late-middle-aged SMSF investors have been warned.
Tony Bates, chief executive of Bluepoint Consulting, says negative gearing into property might have proved a successful strategy throughout a Boomer's high-flying career "but in your late 50s and early 60s it's time to slow down."
"My advice to Boomer clients is to transition slowly into retirement, pedal slower and progressively shift gearing down to zero," he told the Australian Financial Review, which reported modelling released by the Australian Institute of Superannuation Trustees and Mercer which showed very high-income earners received an average of $335,000 more over a lifetime in government support via superannuation tax concessions towards their retirement incomes, than the level of government support provided to median-income earners.
"Negative gearing becomes less and less effective as your marginal tax rate lowers," Bates warns.
"With the possibility of very low tax rates in retirement through generous super arrangements, I am cautioning Boomers against extending their already geared property portfolio if this is at the expense of accumulating super," he says.
Those coming to retirement need to wind down debt, sell surplus property and maximise contribution caps.
Using the "bring-forward" provisions for after-tax (or non-concessional) contributions would enable a couple to inject $1.44 million into super over two years, says Bates, or $720,000 for an individual.
It could work where in June this year the investors make an after-tax contribution of $180,000 for this financial year; then in July this year you could contribute $540,000 for the 2016, 2017 and 2018 financial years. 
The "bring-forward" rules allow you to make contributions for this and the next two years at the same time, as long as no further contributions are made until the fourth year.  
The maximum non-concessional contribution for an individual is now $180,000, up from $150,000.
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Property investors need to plan their borrowing in lead-up to retirement 

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Where should property investors stand in the debate on new washing machines in their rental property?
The question on whether to get a top-loader or a front-loader. 
Recent findings from Roy Morgan research show that while traditional top-loading machines still outnumber front-loaders in Australian households, but they are on the wane as front-loaders becoming more popular.
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It found 52% of Aussie households own a top-loading washing machine, a decrease from 2010 when it was 60%. 
The proportion of households with a front-loader now sits at 34%, so there must be still some washboards!
For investors i was worth noting that whether a household opts for one or the other appears to be linked to what stage of the life cycle its occupants are at. 
Front-loaders prevalence varies considerably.
<h3>Proportion of household types with front-loading and top-loading washing machines</h3>
<img src="https://www.roymorgan.com/~/media/files/morgan%20poll/2015/may/washing-machine-households-chart.jpg?la=en" alt="hh-stage-washing-machine" width="800" height="523">
Source: Roy Morgan Single Source (Australia), January–December 2014 
Households occupied by young parents or mid-life families are the most likely to own a front-loading washing machine (41% and 42% respectively), while older households (27%) are the least likely.
Households occupied by young singles are the least likely to own a washing machine of any kind.
Using less power and less water, front-loaders are widely acknowledged to be better for the environment — and households with front-loading machines tend to be a little more green-leaning than those with top-loaders, Angela Smith, Group Account Director, Roy Morgan Research said. 
 
{mijopolls 110}
 
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Front versus top-loader washing machine: which should property investors install?

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Cleveland, the 1885 Darling Point residence of Dr Barry Barker, has been listed with $9 million plus hopes.
Built in 1885 by Robert Tooth, the seven bedroom, four bathroom trophy home has been renovated since it was last sold in 1996 for $2.35 million by the lawyer David Somervaille.
It was previously sold at $3.5 million in 1988 and then in 1994 for $2.1 million. 
It is listed with Ray White Double Bay agent Evan Williams. 
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Cleveland, Robert Tooth's 1885 Darling Point trophy home, listed

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Monaco experienced a surge in residential market activity in 2014 with transaction volumes exceeding their 2007 peak for the first time, says international real estate advisor Savills.
They counted 555 re-sale properties sold in 2014, putting the number of sales 21% above their 2007 activity.
The very upper tiers of the market have been the most liquid, pushing re-sale volumes in euro terms to new highs with around €2bn of re-sale property traded in 2014. 
The new development market is tiny and exclusive and since the global economic downturn, developers in the Principality have shifted their focus to the global ultra-prime segment, developing larger units at higher price points. This has pushed new build sales volumes to €345million, 2.5 times the volume recorded in 2013 and 13 times that of 2008.
 <img src="/images/2015/05/22/Screen%20Shot%202015-05-22%20at%209.03.38%20AM.png" alt="">
But average prices have remained static, Paul Tostevin, associate director, Savills World Research, said.
“Price are at, or near, a high plateau and will be for some time to come.
“The unique offering of Monaco’s global appeal and its extremely limited land supply will all combine to keep its real estate prices high with few or no mechanisms for them to fall. 
"A weak euro has meant that Monaco has dropped down the global league table and is now second to Hong Kong in US dollar terms, purely on currency movements," Paul Tostevin added. 
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Savills expect prices to remain stable. 
"Homes in Monaco are most commonly paired with London, followed by New York and Moscow. 
"Monaco remains a premier destination for motor sport, yachting, gambling and recreation. 
"This combination, right on Europe’s doorstep, sets it apart from almost any other city or state. 
"Only Macau is beginning to come close but the attractions of the South China Sea are not the same as the Mediterranean. 
"In the longer term, Gibraltar has the potential perhaps to be a rival but it will need investment and infrastructure if it is to challenge Monaco." 
<a href="/images/2015/05/22/Monaco_map.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/05/22/Monaco_map.jpg" alt=""> 
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Monaco's tiny prestige residential market on a high plateau: Savills International

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Grimes Cottage, at 50 Argyle Place in Millers Point, has been sold by the NSW government, securing the highest price yet in its staggered former social housing selldown.
It had been tipped to fetch more than $4 million at auction tonight, selling for $4.23 million through McGrath's Richard Shalhoub.
It was bought by lawyer John Schembri and his wife Karen, of Greenwich, Fairfax Media reported.
The property came with a 200-page conservation management pal which bans the buyer from using the heritage cobblestone side driveway as off-street parking.
The 15 earlier Millers Point property sales have netted the state government around $34 million.
The freestanding sandstone residence is not expected to be topped amid the 293 properties portfolio disposal over the next 18 months.
The sale tops the previous high of $3.95 million last September when a five-bedroom Victorian terrace sold on Lower Fort Street.
The Colonial Georgian freestanding home comes with six bedrooms, north-facing garden, along with a self-contained studio flat.
There are views of the Harbour Bridge and The Rocks from its rear verandah. 
It was built in 1831 as the first home of master mariner George Grimes and his wife Mary Underwood, the daughter of shipbuilder, merchant and distiller James Underwood. 
Set on 416 square metres, the 1830s home was dubbed by the Australian Financial Review as a "jewel" within the social housing portfolio in the area.
The terraces along Kent Street, Argyle Place, Windmill Street and Lower Fort Street have fetched between $1.624 million and $3.95 million.
Grimes Cottage features in artist Conrad Marten’s work in 1843. 
Grimes was born in 1801 to Charles Grimes, the Second Surveyor-General of NSW, and Elizabeth Matthews, a convict who had arrived in the colony in 1792.
Grimes became a seafarer, and by the 1830s was a master mariner and the commander of the Barque Woodlark.
In 1834 George Grime married Mary Underwood, the daughter of James Underwood, shipbuilder, merchant and distiller. They had nine children between 1834 and 1850, and their first home was ‘Grimes Cottage’ at 50 Argyle Place.
Grimes progressively built Nos. 52 – 60 Argyle Place from east to west commencing with No.s, 52 and 54 in 1842.
The buildings are early examples of investment in residential property by a local resident, and demonstrate a pattern of local development (building in stages as money permitted) that was to become common in Millers Point.
Grimes’ terraces were amongst the first quality dwellings to be built in Millers Point. 
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Grimes Cottage, Millers Point sold by NSW state government

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Paddington's Grand National Hotel sold this morning.
Bidding started at $6 million when auctioneer Damien Cooley took bids from what appeared to be the five interested parties.
It was knocked down at $7.25 million through <a href="https://www.colliers.com.au/14889#.VV06uutMIzU" target="_blank" style="line-height: 1.3em;">Colliers International agent Miron Solomon</a> who had the offering in conjunction with CBRE Hotels agent Daniel Dragicevich.
The prominent corner freehold has recently undergone a complete refurbishment over the entire ground floor by new tenants, LJB Hotels, who have a long term lease.
It was sold with a 20 year lease (10+5+5) over ground floor to established tenants, who commenced in 2014, with current net income of $250,000 pa.
The holding was a 437 square metre footprint with upstairs NLA of approximately 600sqm and current inventory of up to 24 pub­-style accommodation rooms.
It was offered with future development of first and second floors to suit a range of types and uses ranging from accommodation, hospitality, residential or commercial office. 
“The buyer was ultimately a private investor looking to unlock the cash flow potential from the top two floors," Colliers International’s Miron Solomons said.
 
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Grand National Hotel Paddington sold

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John Singleton's Killcare beach house has been sold by Gittoes Real Estate, according to the local News Ltd paper, the Gosford Express.
Yesterday's sale price for 80 Beach Drive was not revealed other than the figure “was close to the vendor’s expectations”.
The buyer, a Sydney-based businessman, originally from Queensland, spent somewhere around $4 million on the five-bedroom residence.
Stephen Gittoes and Cathy Baker advised the landmark property attracted over 20 private inspections and 62 email and phone enquiries, with the majority of interest coming from Sydney and overseas buyers who had previously stayed at the prestige holiday rental which secures up to $10,000 per week.
Originally built as a future retirement retreat for Singo and his family, the 73-year-old decided the peace and privacy of his Strawberry Hills acreage in Mount White was more suitable.
Singleton spent $3.85 million for the original cottage in 2011, then commissioning the local architect Karen Burke, master builder Matt Blair and interior designer Chrissie Jeffrey to build the striking new home.
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Singo sells Killcare beach house

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

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