<html><body>
ASIC is currently undertaking “limited surveillance” of financial advisers and accountants over concerns that property spruikers are encouraging investors to set up self-managed super funds purely as vehicles for "dodgy" property investments.
The corporate watchdog also has a taskforce focused on the aggressive marketing of speculative property investments, according to report in The Australian.
"We don't want SMSFs to be the preferred vehicle for dodgy property spruikers," says ASIC commissioner Peter Kell.
Kell says being encouraged to set up a SMSF “solely to invest in direct property” should be a “warning sign” for consumers.
He says a big risk for SMSF investors is speculating on property in areas where they are less familiar.
This would suggest ASIC concerns about investing in areas such as remote mining towns, where new housing developments have been heavily promoted by marketeers.
According to Kell, in some cases investors are being flown to places like the Gold Coast, shown a property and then steered through all the steps necessary to set up the SMSF, including creating the holding trust required to act as custodian of the property and arranging the loan and purchase of the property.
Current tax rules do allow investors to put investment property into their SMSF and also borrow against the fund to acquire property - provided it is done at arm’s length and with the appropriate structures.
But Kell says setting up a fund just to acquire and hold property is clearly in breach of the spirit of DIY funds by not achieving diversity and may also breach trustee obligations to maintain liquidity in the fund.
Investing in property through a SMSF holds significant tax advantages with the maximum rate of tax paid on rental income being 15% and falling to 0% if the SMSF is in the pension phase.
This compares with personally held property where rental income is taxed at a marginal tax rate, which in some cases can be as high as 46.5%.
“ASIC has concerns that people are being encouraged to set up SMSFs in situations where they don’t have the resources, experience and understanding to ensure they actually generate the expected benefits,” says Kell.
Kell says the resourcing issue is not just about money but having the time to properly manage your SMSF.
But he says ASIC is emphatically not anti-SMSF, but is worried that as the sector grows in popularity it will be a target for fraudsters.
ASIC hopes to release research into this aspect of SMSF investing in 2013.
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lschlesinger-FZcF9M3vE6

 ASIC raises alarm bells about spruikers exploiting SMSF rules to push dodgy property investments 

<html><body>
The common perception of first-home buyers as 20-somethings may need to be reconsidered, with a new survey showing a declining trend in first-home buyers aged 29 and under and a rising proportion of buyers aged 40 and over.
A Mortgage Choice online survey of 1,000 Australians who plan to buy their first home in the next two years found that the greatest proportion of first-home buyers (41%) are aged between 30 and 39, compared with 39% aged 18 to 29.
The proportion of prospective first-home buyers aged 40 and over was 20%, or one in five.
These results build on earlier online polls that show a trend of first-home buyers choosing to purchase when they are older and a marked decline in younger buyers.
The Mortgage Choice 2011 recent first-home owner survey found that the majority of first-home buyers (55%) were aged between 18 and 29, this itself a fall from a 2010 survey when 63% of respondents were in this age bracket.
The 2011 survey also found that 34% of recent first-home buyers were aged between 30 and 39, and only 11% were aged 40 and over.
Mortgage Choice spokesperson Belinda Williamson says the results of the survey show that “more first-home buyers are saving for longer and purchasing later in life, perhaps when they are in a better financial position”.
Other findings of the 2012 survey tie in with the shift towards older first-home buyers, with the average period to save for a deposit increasing from 1.8 years in the 2011 survey to two years in 2012.
It also found that job security concerns have increased notably since 2011, with 18% of 2012 respondents claiming it to be their biggest concern, compared with 11% last year.
Conversely, fewer buyers are concerned about rising house prices (22% this year compared with 31% in 2011) and even fewer are concerned about the impact of interest rates on their ability to purchase their first home (8% this year compared with 14% in 2011).
“While many of the economic indicators such as rate cuts, lower house prices and improved affordability might suggest now is a good time to buy, people are still nervous about their ability to sustain employment,” says Williamson.
</body></html>

First-home buyers increasingly ageing into their 30s and one in five even aged 40 and over: Mortgage Choice 

<html><body>
While it’s still early days, the latest housing finance figures published by both the ABS and mortgage broker AFG suggest NSW and Queensland are discouraging many first-home buyers after doubling state handouts last year, but only if they buy or build a new home, while offering nothing for those that buy an existing property.
The most up-to-date mortgage figures are provided by aggregator AFG, which claims to write one in every 10 home loans in Australia through its network of affiliated mortgage brokers.
AFG reports a healthy 15% rise in the volume of mortgages arranged by brokers over 2012 from $28 billion to $32 billion, but says the average long term share of home loans arranged for first-home buyers, usually between 12% and 15%, collapsed to just 4.2% in NSW and 4.5% in Queensland during the last two months of 2012, after the $7,000 first-home buyers grants were withdrawn in both states in favour of the $15,000 boost for new homes only.
In comparison, investors dominated the mortgage market in these two states, comprising 46.3% and 35.9% of all home loans respectively.
Official ABS data is only up until November, so it is difficult to say a trend is emerging, but the figures certainly suggest first-home buyers have not been swayed to consider a new house or apartment over an existing property.
The ABS records that the number of first-home buyer loans arranged in NSW fell from 2,088 in October to 1,383 November, while in Queensland first-home buyer loan numbers fell from 2,116 in October to 1,417 in November - in both states a monthly drop of 33%.
Furthermore, just 793 first-home buyers took advantage of the revised NSW first-home owners' grant in December last year, <a target="_blank" href="https://www.propertyobserver.com.au/news/nsw-first-home-buyer-numbers-fell-to-20-year-lows-in-late-2012/2013011458763?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">the lowest take-up in 20 years</a> with the NSW state opposition claiming that Barry O'Farrell's decision to dump first-home buyer grants and stamp duty exemptions have been "nothing short of devastating for young people trying to buy their first home".
Indeed, first-home buyer changes are particularly tough on those in NSW that wish to buy an existing property.
Since October 1, the NSW state grant has been lifted from $7,000 to $15,000 for new homes valued up to $650,000, while a maximum stamp duty exemption of $20,240 is also available for new homes worth up to $550,000.<a style="font-size: 0.8em;" href="https://www.propertyobserver.com.au/administrator/index.php?option=com_flexicontent&amp;view=item&amp;cid=58777#">Apply</a>
First-home buyers that purchase an existing home get nothing.
In Queensland, since September 11, a $15,000 first-home owner construction grant (FHOCG) has been available for new property bought or built at a value under $750,000, but all first-home buyers also pay no duty on purchases up to $500,000, with a phasing-out rebate applicable for values up to $600,000.
The doubling of the NSW first-home buyer grant was announced in mid-June, but only came into effect three-and-half months later, with Property Observer reporting on the conundrum it created for both <a href="https://www.propertyobserver.com.au/residential/nsw-budgets-needlessly-complex-artificial-deadlines-have-short-term-and-long-term-consequences-for-residential-property/2012061455119">first-home buyers and investors</a> over this interim period.
Queensland government introduced its construction grant with immediate effect from September 11, but gave first-home buyers up until October 11 to finalise contracts.
Contrast this with Victoria, which still offers a $7,000 first-home buyer loan for both new and existing home purchases (and increased stamp duty concessions from 20% to 30% on January 1) and first-home buyer loan numbers were little changed over the month, falling marginally from 2,545 to 2,407.
Ray White chairman Brian White labelled the new first-home buyer polices as “no longer a first-home buyers but a builders incentive” and a "deceit", saying they distorted the market, but not in a healthy way.
The latest data suggests he could be right.
</body></html>

First-home buyer policies failing in NSW and Queensland

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The ATO is warning investors about a tax avoidance scheme where they are encouraged to borrow funds to invest in a trust that buys a rental property and are then told they can claim the borrowings as a tax deduction.
In such a scheme a self-managed superannuation fund (SMSF) derives income through a direct or indirect interest in the trust.
“In this arrangement a promoter encourages you to borrow funds to invest in a trust which has, as one of its beneficiaries, an SMSF. The trust uses the funds to buy a rental property.
“You then claim all of the borrowing costs as income tax deductions. However, some of the income from the investment is distributed to the SMSF.
“This arrangement is considered to be a scheme because you are claiming deductions for all of the interest expenses on the borrowing but the borrowing has also been used to derive income for other beneficiaries of the trust such as an SMSF which is ordinarily taxed at the concessional rate.
“However, as the income distribution from the trust to the SMSF may be considered non arm's-length income, it may in fact be taxable at a higher rate,” says the ATO.
The ATO provides a more detailed explanation of this scheme in a <a target="_blank" href="https://law.ato.gov.au/atolaw/view.htm?Docid=TPA/TA20084/NAT/ATO/00001&amp;PiT=99991231235958">2008 taxpayer alert.</a>
The warning is part of a new guide issued by the ATO called Investigating tax-effective arrangements, which aims to help borrowers “recognise some of the common types of tax avoidance schemes so you can reject them and avoid the negative consequences associated with them”.
The ATO is also warning on two <a target="_blank" href="https://www.propertyobserver.com.au/tax/ato-warns-on-home-loan-tax-avoidance-schemes/2013012458979?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">home loan tax avoidance schemes</a>.
The guide can be <a href="https://www.ato.gov.au/atp/content.aspx?menuid=0&amp;doc=/content/00268505.htm&amp;page=1&amp;H1">viewed online</a> or <a href="https://www.ato.gov.au/atp/content.aspx?menuid=0&amp;doc=/content/00268505.htm&amp;page=1&amp;H1">downloaded as a PDF document</a>.
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ATO warns investors about illegal SMSF rental property scheme

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Mortgage lender RAMS has waived application fees and settlement fees for first-home buyers as part of a new campaign aimed at helping them move from renting to buying.
The campaign is being promoted by a new television commercial, which aired for the first time last weekend.
RAMS has also waived the account keeping fees on its RAMS Low Rate Home Loan with Introductory Rate Option, during the introductory rate period.
According to the lender, this could save first-home buyers up to $1,590 in fees.
“We understand the frustrations of FHBs who tell us they are in a rental rut and are delaying purchasing a property due to their inability to afford repayments and fears of unemployment in an uncertain economy," says RAMS chief executive Melos Sulicich.
“We have listened to their concerns and created genuine options designed to renew first-home buyer confidence and reignite their passion and drive to take the first step to home ownership."
RAMS says it is also helping first-home buyers by requiring only a 5% deposit with a full-doc loan (plus funds to cover transaction costs), if they meet our other lending criteria.
The lender has also cut its two-year fixed rate from 5.39% to 5.25%.
</body></html>

RAMS waives fees for first-home buyers

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After your spot of shopping on Collins Street, why not pop into the Bank of Melbourne branch at the Paris end for a free valuation of your investment property or a quick read of the latest investment tips from Alan Kohler or Robert Gottliebsen? Or even just sit back and watch Sky Business for a while?
Just don’t expect either of these two economic gurus to be standing around answering personal investment questions when you step into the recently opened 'Investore' at the Bank of Melbourne branch at 233 Collins Street.
<img src="/images/stories/2013/02/investore1.jpg" width="470" height="583" alt="investore1">
Despite the store beckoning you to enter with a collage poster featuring a slice of Alan Kohler's face alongside that of Robert Gottliebsen's, they won't actually be there. 
They will seemingly limit their involvement in the venture to providing half of their faces to the promotional material and allowing visitors to read their investment tips for free.
It’s a rather unusual venture with a Fairfax brand, Domain, sitting alongside a News Limited one, The Eureka Report.
The Investore, as explained by an onsite Bank of Melbourne employee, is not a pop-up shop but a permanent investment lounge with computers and rows of iPads where visitors can obtain free property reports provided by Domain's Australian Property Monitors and read unlocked stories and reports on the Eureka website from Kohler, Gottliebsen and other investment writers.
<img src="/images/stories/2013/02/investore2.jpg" width="470" height="283" alt="investore2">
It’s all part of efforts by the Bank of Melbourne to add extra value to its customers and build the brand and, one imagines, take on the likes of Bankwest, which was the first to pioneer the idea of a funky bank branch offering free coffee, the chance to buy property investment books and this writer's personal favourite, the coin counter.
Certainly, Bank of Melbourne been trying to separate itself (in the minds of customers) from its big four bank parent Westpac, with signs in Bank of Melbourne windows promising lower mortgage rates than the big four banks.
In addition to the free property reports and a browse of the Eureka website, there’s also the chance to sign up for free property and investment seminars presented by Business Spectator editor James Kirby and Consumer Affairs Victoria.
</body></html>

Bank of Melbourne offers free property reports and investment tips but don’t expect a chat with Alan Kohler

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Self-managed super fund investors are showing an increasing appetite for adding commercial real estate and residential property into their portfolios.
Figures compiled by the Australian Tax Office (ATO) show that from 2008 to 2012, commercial property investments by SMSFs increased by 77% while residential investments increased by 56%.
In total, real estate assets make about around 15% of SMSF portfolios, compared with 8% for the rest of superannuation industry.
SMSF investment in direct property 2008 – 2-12
<table style="width: 470px;" border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="154">
 
</td>
<td valign="top" width="154">
Dec 2008
</td>
<td valign="top" width="154">
Dec 2012
</td>
</tr>
<tr>
<td valign="top" width="154">
Commercial property
</td>
<td valign="top" width="154">
$30.7 billion
</td>
<td valign="top" width="154">
$54.3 billion
</td>
</tr>
<tr>
<td valign="top" width="154">
Residential property
</td>
<td valign="top" width="154">
$10.6 billion
</td>
<td valign="top" width="154">
$16.7 billion
</td>
</tr>
</tbody></table>
Source: ATO
This appetite for property comes with its risks, not all of which relate to the unpredictability of the property market.
According to superannuation expert Peter Nicol, there are three issues relating to high exposure to direct property: yield, liquidity and the indivisibility of property.
Nicol, a principal with the Perth superannuation division of accountants RSM Bird Cameron, says the issue of yield relates to the minimum pensions required to be drawn from the fund.
If an investment property fails to deliver the yield required and the SMSF members are in their pension phase (65 or older) they face the problem of “addressing the liquidity issue of the fund for pension payments and meeting compliance requirements”.
This, Nicol says, may require the fund to liquidate assets.
“Property is not noted as being an easily liquidated asset: in some cases it can take months to sell a property and realise the cash for payments,” says Nicol in an article written for the Australian Financial Review.
“Where a pension member is reliant on that regular monthly income for lifestyle, the illiquid nature of the asset can create serious issues and could result in a property being sold on less than optimal terms,” he says.
And the issue of liquidity is a problem because of the indivisibility of property compared with other more liquid investments such as cash, shares or bonds.
“In most cases direct property can’t be sold in pieces to provide the needed liquidity to meet pension payments. This means where cash is short in the fund to meet pension payments of the pension member who is in need of a lump sum to meet medical bills, holidays or for special occasions, there isn’t the ability to partially redeem a direct property,” he says.
However, he says there are options to address these issues including that SMSF members keep the property, if it is being used for some specific purpose such as it is used in the family business or it is to be handed to the next generation
“The SMSF can keep the property effectively until the last member’s death,” says Nicol.
Readers can find more <a target="_blank" href="https://www.rsmi.com.au/services_/business_solutions/self_managed_superannuation_funds/superannuation_financial_review">SMSF advice and tips from Peter Nicol</a> via the RSM Bird Cameron website.
</body></html>

SMSFs' ever-growing desire for property investments creating potential liquidity headaches

<html><body>
Plummeting first-home buyer numbers have raised fresh questions about recently introduced first-home buyer grant schemes on offer in NSW as well as raise issues about current housing affordability. 
The number of loans to first-home buyers in December 2012 fell to 14.9% according to ABS figures, the fourth consecutive month that this segment of the market has declined.
This a 37% decline on figures from a year ago when first-home buyers accounted for more than one in five new home loans (21.1%).
This was the weakest proportion of first-home buyers in the housing market since June 2004 and just two percentage points off the record low of 12.8% in March 2004 for ABS figures going back to July 1991.
The decline suggests that the new first-home owner grants in Queensland and NSW, which provide generous handouts of $15,000 – but only for those who buy or build new homes – have missed the mark and are as claimed by the likes of Ray White chairman Brian White nothing more than a builder or developer incentive.
In addition they suggest housing remains unaffordable or undesirable for most prospective first-home buyers with low mortgage rates and a decline in capital city house prices over the last few years failing to spur this segment of the market in a meaningful way.
The fall was sharpest in NSW, where there was a 3.2% decline as well as a smaller 0.8% drop in Queensland and a 1.9% decline in WA. 
“The state detail was something of a surprise,” notes Westpac, who called the December figures “another weak reading” for first-home buyer activity. 
“We had expected unwinding first-home buyer demand in NSW (from an earlier bring-forward relating to state government changes) to have run its course by December with weakness to instead centre on Victoria where stamp duty concessions coming in from January 1 would have encouraged many FHBs to delay purchases. 
“Instead, the sharp slide in NSW continued (–3.2%) with Victoria posting a slight rise (+0.3% for the month). 
Westpac estimates that approvals in this segment were down another 5.7% in December on a seasonally- adjusted basis.  
First-home buyer numbers peaked in May 2009 following of the doubling of the first-home owners grant to $14,000 for those buying existing homes and trebling it to $21,000 for those buy newly built homes in October 2008. 
First home buyers as percentage of home lending dating back to 1991 (ABS)
 
<table border="0" cellpadding="0" cellspacing="0" width="415"><tbody>
<tr>
<td nowrap valign="bottom" width="104">
Month
</td>
<td nowrap valign="bottom" width="104">
Number of FHB loans
</td>
<td nowrap valign="bottom" width="104">
% of new loans
</td>
<td nowrap valign="bottom" width="104">
Size of loan ($)
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-1991
</td>
<td nowrap valign="bottom" width="104">
5654
</td>
<td nowrap valign="bottom" width="104">
20.7
</td>
<td nowrap valign="bottom" width="104">
71.5
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-1992
</td>
<td nowrap valign="bottom" width="104">
7733
</td>
<td nowrap valign="bottom" width="104">
22.2
</td>
<td nowrap valign="bottom" width="104">
76.9
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-1993
</td>
<td nowrap valign="bottom" width="104">
10139
</td>
<td nowrap valign="bottom" width="104">
22.4
</td>
<td nowrap valign="bottom" width="104">
83.0
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-1994
</td>
<td nowrap valign="bottom" width="104">
7789
</td>
<td nowrap valign="bottom" width="104">
21.5
</td>
<td nowrap valign="bottom" width="104">
90.3
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-1995
</td>
<td nowrap valign="bottom" width="104">
7218
</td>
<td nowrap valign="bottom" width="104">
21.9
</td>
<td nowrap valign="bottom" width="104">
89.8
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-1996
</td>
<td nowrap valign="bottom" width="104">
8427
</td>
<td nowrap valign="bottom" width="104">
23.0
</td>
<td nowrap valign="bottom" width="104">
99.2
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-1997
</td>
<td nowrap valign="bottom" width="104">
8047
</td>
<td nowrap valign="bottom" width="104">
21.0
</td>
<td nowrap valign="bottom" width="104">
104.0
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-1998
</td>
<td nowrap valign="bottom" width="104">
8651
</td>
<td nowrap valign="bottom" width="104">
22.6
</td>
<td nowrap valign="bottom" width="104">
120.7
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-1999
</td>
<td nowrap valign="bottom" width="104">
10264
</td>
<td nowrap valign="bottom" width="104">
22.0
</td>
<td nowrap valign="bottom" width="104">
134.7
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2000
</td>
<td nowrap valign="bottom" width="104">
9654
</td>
<td nowrap valign="bottom" width="104">
22.3
</td>
<td nowrap valign="bottom" width="104">
123.0
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2001
</td>
<td nowrap valign="bottom" width="104">
12745
</td>
<td nowrap valign="bottom" width="104">
25.8
</td>
<td nowrap valign="bottom" width="104">
146.5
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2002
</td>
<td nowrap valign="bottom" width="104">
7998
</td>
<td nowrap valign="bottom" width="104">
15.9
</td>
<td nowrap valign="bottom" width="104">
160.2
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2003
</td>
<td nowrap valign="bottom" width="104">
7618
</td>
<td nowrap valign="bottom" width="104">
13.3
</td>
<td nowrap valign="bottom" width="104">
185.2
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Mar-2004*
</td>
<td nowrap valign="bottom" width="104">
7083
</td>
<td nowrap valign="bottom" width="104">
12.8
</td>
<td nowrap valign="bottom" width="104">
191.5
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Jun-2004**
</td>
<td nowrap valign="bottom" width="104">
7428
</td>
<td nowrap valign="bottom" width="104">
14.3
</td>
<td nowrap valign="bottom" width="104">
204.5
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2004
</td>
<td nowrap valign="bottom" width="104">
8845
</td>
<td nowrap valign="bottom" width="104">
16.6
</td>
<td nowrap valign="bottom" width="104">
210.3
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2005
</td>
<td nowrap valign="bottom" width="104">
10811
</td>
<td nowrap valign="bottom" width="104">
18.8
</td>
<td nowrap valign="bottom" width="104">
217.1
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2006
</td>
<td nowrap valign="bottom" width="104">
10241
</td>
<td nowrap valign="bottom" width="104">
18.0
</td>
<td nowrap valign="bottom" width="104">
228.5
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2007
</td>
<td nowrap valign="bottom" width="104">
11282
</td>
<td nowrap valign="bottom" width="104">
19.4
</td>
<td nowrap valign="bottom" width="104">
230.9
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2008
</td>
<td nowrap valign="bottom" width="104">
14142
</td>
<td nowrap valign="bottom" width="104">
27.2
</td>
<td nowrap valign="bottom" width="104">
271.3
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
May 2009***
</td>
<td nowrap valign="bottom" width="104">
18744
</td>
<td nowrap valign="bottom" width="104">
31.4
</td>
<td nowrap valign="bottom" width="104">
279.4
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2009
</td>
<td nowrap valign="bottom" width="104">
11793
</td>
<td nowrap valign="bottom" width="104">
23.5
</td>
<td nowrap valign="bottom" width="104">
293.3
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2010
</td>
<td nowrap valign="bottom" width="104">
8199
</td>
<td nowrap valign="bottom" width="104">
17.3
</td>
<td nowrap valign="bottom" width="104">
289.2
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2011
</td>
<td nowrap valign="bottom" width="104">
10264
</td>
<td nowrap valign="bottom" width="104">
21.1
</td>
<td nowrap valign="bottom" width="104">
285.1
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Jan-2012
</td>
<td nowrap valign="bottom" width="104">
8043
</td>
<td nowrap valign="bottom" width="104">
20.6
</td>
<td nowrap valign="bottom" width="104">
282.8
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Feb-2012
</td>
<td nowrap valign="bottom" width="104">
7360
</td>
<td nowrap valign="bottom" width="104">
17.4
</td>
<td nowrap valign="bottom" width="104">
279.8
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Mar-2012
</td>
<td nowrap valign="bottom" width="104">
7902
</td>
<td nowrap valign="bottom" width="104">
16.6
</td>
<td nowrap valign="bottom" width="104">
281.8
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Apr-2012
</td>
<td nowrap valign="bottom" width="104">
7077
</td>
<td nowrap valign="bottom" width="104">
17.0
</td>
<td nowrap valign="bottom" width="104">
282.5
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
May-2012
</td>
<td nowrap valign="bottom" width="104">
9110
</td>
<td nowrap valign="bottom" width="104">
18.1
</td>
<td nowrap valign="bottom" width="104">
288.3
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Jun-2012
</td>
<td nowrap valign="bottom" width="104">
8415
</td>
<td nowrap valign="bottom" width="104">
18.5
</td>
<td nowrap valign="bottom" width="104">
292.0
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Jul-2012
</td>
<td nowrap valign="bottom" width="104">
8760
</td>
<td nowrap valign="bottom" width="104">
19.2
</td>
<td nowrap valign="bottom" width="104">
291.2
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Aug-2012
</td>
<td nowrap valign="bottom" width="104">
8921
</td>
<td nowrap valign="bottom" width="104">
18.6
</td>
<td nowrap valign="bottom" width="104">
288.9
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Sep-2012
</td>
<td nowrap valign="bottom" width="104">
8391
</td>
<td nowrap valign="bottom" width="104">
19.3
</td>
<td nowrap valign="bottom" width="104">
289.2
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Oct-2012
</td>
<td nowrap valign="bottom" width="104">
9215
</td>
<td nowrap valign="bottom" width="104">
18.7
</td>
<td nowrap valign="bottom" width="104">
288.0
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Nov-2012
</td>
<td nowrap valign="bottom" width="104">
7921
</td>
<td nowrap valign="bottom" width="104">
15.8
</td>
<td nowrap valign="bottom" width="104">
287.8
</td>
</tr>
<tr>
<td nowrap valign="bottom" width="104">
Dec-2012
</td>
<td nowrap valign="bottom" width="104">
6557
</td>
<td nowrap valign="bottom" width="104">
14.9
</td>
<td nowrap valign="bottom" width="104">
293.9
</td>
</tr>
</tbody></table>
Source: ABS
*Record lowest proportion of first-home buyers
**Previous lowest proportion of first homebuyers after December 2012
***Highest proportion of first-home buyers
</body></html>

First-home buyers at lowest share of new home loans in more than eight years: historical data to 1991

<html><body>
More evidence has emerged of the damaging impact that changes to first-home buyer grants in NSW and Queensland are having on home buyer sentiment.
First-home buyer (FHB) sentiment fell 12.8% according to the latest <a href="/news">Genworth</a> Homebuyer Confidence Index, driving a 5.1% fall in the overall index – its lowest level since 2008.
The bi-annual index, a measure of home buyer and would-be home buyer sentiment, fell from 98.4 to 93.4 over the six-month period while the first-home buyer sub-index fell from 98.5 to 85.9.
Click to enlarge
<a href="/images/stories/2013/03/genworthmarch27one.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/03/genworthmarch27onethumb.gif"></a>
“Changes to incentives in New South Wales and Queensland states may be affecting FHB con?dence more broadly, with New South Wales having the lowest proportion of prospective FHBs who thought now was a good time to buy a home,” the report says.
“New South Wales and Queensland both saw a large fall in the number of FHBs in the market, according to ABS data, of 56% and 66% respectively between September 2012 and January 2013.”
In addition, mortgage stress among FHBs is rising with the report finding that 41% of recent first-home buyers are expecting difficulty with mortgage repayments over the coming year – up from 18% in September 2012. 
The fall in the overall index was primarily driven by a 42% increase in the proportion of borrowers who expect to experience mortgage stress over the next 12 months rising from 18% in September 2012 to 27% in March 2013.
“The sharp rise in the proportion of surveyed FHBs experiencing and anticipating hardship follows the removal of FHB incentives on established dwellings in New SouthWales and Queensland, which went into effect in October 2012.
“Amongst FHBs in Queensland, over-commitment/borrowing was cited as the main reason for expecting mortgage stress," says the report.
Bridget Sakr, chief commercial officer of Genworth, says the changes to government grants led to a bigger drop in first-home buyer confidence compared with the overall decline in the index.
The changes to the FHB grants impacted on the ability of FHBs to purchase the properties they want, Sakr told Property Observer.
She highlighted the findings of the report that fewer than one in four FHBs wanted to buy a new home.
Despite this sharp fall in FHB confidence, time to buy a home sentiment is still higher than it was a year ago, though it too fell from 54% of FHBs to 49% as of March 2013.
“FHBs still aspire to own a home, this has increased from last year, but most want an established home in an area they want to live,” Sakr says.
“The grant removals have hindered them from being able to do that.”
</body></html>

FHB grant changes drive home buyer confidence to lowest level since 2008: Genworth

<html><body>
With the end of the financial year less than three weeks away, cashed-up property investors should be cognisant of the amount of the money they contribute to their funds.
The ATO has <a target="_blank" href="https://www.ato.gov.au/individuals/PrintFriendly.aspx?ms=individuals&amp;doc=/content/00106372.htm">issued a reminder </a>that there caps on the amount you can contribute to your superannuation each financial year that are taxed at lower rates.
If you contribute more than these caps you may have to pay extra tax.
The tax on non-concessional (before-tax) contributions that exceed the current $25,000 cap is 31.5% (plus 15% paid on your behalf by your super fund) while the tax on concessional (after-tax) contributions that exceed the current $150,000 cap is 46.5%.
Subject to government changes being passed in parliament, from July 1 2013 the government will increase the concessional contributions cap to $35,000 if you are 60 years old or over.
Individuals aged 50 and over will be able to access the higher cap from 1 July 2014.
These contribution cap limits may particularly apply to property investors who have disposed of an asset and wish to invest some of the proceeds into their self-managed super fund.
Other changes set to take effect from July 1 2013 are to allow withdrawals from super fund of any excess concessional contributions made from 1 July 2013 and that excess concessional contributions to be taxed at the marginal tax rate rather than the top marginal tax rate.
Investors though will need to know the difference between concessional and non-concessional contributions.
Concessional contributions apply to before-tax contributions while non-concessional contributions apply to after-tax contributions. 
Types of concessional (before-tax) contributions include:
<ul>
<li>employer contributions, such as compulsory employer contributions paid by your employer, any additional pre-tax super contributions your employer makes, salary sacrifice payments made to your super fund, other amounts paid by your employer from your pre-tax income to your super fund, such as administration fees and insurance premiums</li>
<li>contributions that you are allowed as an income tax deduction, such as contributions you make if you are self-employed (to claim a tax deduction for your personal super contributions, you must first complete a notice of intent to claim deduction in the approved form and give it to your super fund)</li>
<li>notional taxed contributions if you are a member of a defined benefit fund some amounts allocated from a fund reserve.</li>
</ul>
The ATO also warns that if you decide to split your before-tax contributions and give some to your spouse, these contributions count towards your cap.
Types of non-concessional (after-tax) contributions include:
<ul>
<li>non-concessional (after-tax) contributions that your employer makes on your behalf from your after-tax income</li>
<li>contributions your spouse (including a same-sex spouse) makes to your super fund, unless your spouse makes the contributions because they're your employer</li>
<li>personal contributions that are not claimed as an income tax deduction</li>
<li>contributions in excess of your concessional (before-tax) contributions cap</li>
<li>contributions in excess of your capital gains tax (CGT) cap amount</li>
<li>most transfers from foreign super funds, excluding amounts included in your fund's assessable income.</li>
</ul>
Your age affects the amount of the concessional (before-tax) contributions cap, how the cap applies and what options you may have.
The ATO provides an <a href="https://www.ato.gov.au/individuals/PrintFriendly.aspx?ms=individuals&amp;doc=/content/00106372.htm">online guide to super contributions</a>.
</body></html>

Cashed up SMSF property investors face higher tax rate for excess super contributions

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

Joel Robinson

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Larry Schlesinger

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