lschlesinger-FZcF9M3vE6

Brisbane median house prices September quarter 2011: A suburb-by-suburb guide

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Queensland vendors appear intent on holding onto their properties rather than selling in suburbs where prices are currently declining, new research by PRDnationwide has revealed.
Of the 20 Queensland suburbs to record the greatest drop in house sales activity over the six months to June this year (compared with the same period last year), 18 experienced price falls of between 2% and 12%.
In comparison, among the 20 suburbs to register the greatest increase in sales activity over the six-month period, 14 of these registered median price increases over this time, with only three recording house price declines of 6% of more.
Suburbs to record sales activity drops of more than 50% included Urraween in Hervey Bay (sales numbers down 52%, prices down 2%), Bowen near the Whitsundays (sales numbers down 59%, prices down 1%) and Douglas in Townsville, where sales activity fell 55% following a price decline of 11%.
<img src="/images/stories/queenslandsoftening.gif">
 Sales activity picked up in mining suburbs such as Gracemere (37 additional sales, house prices up 3%), Calliope (26 additional sales, house prices up 11%) and Dysart (24 additional sales, prices up 15%), while some coastal towns like Tannum Sands (26 additional sales, prices up 7%) also received increasing activity as a result of the mines.
The suburbs that recorded the largest drops in sales activity but without the corresponding drop in sales prices were The Gap in inner Brisbane, which registered a 57% drop in annual sales despite house prices remaining unchanged over the six-month period, and the far north Queensland town of Atherton, where sales numbers fell 63% despite the median house price rising 5%, to record the biggest percentage decline in sales activity of all suburbs in Queensland.
Overall, for the June 2011 half-year period, Queensland recorded a total of 53,707 settled house transactions, equating to an annual softening of 22.8% (15,900 sales) from the previous year.
<img src="/images/stories/queenslandhousesales.gif">
Source: PRDnationwide 
According to PRDnationwide research director Aaron Maskrey, the significant softening in sales activity and values reflected a drop in first-home buyers, where demand was pulled forward in 2009 due to the boosted first-home owners grant and low interest rates and an investor segment “patiently waiting to see if they can attain a better bargain with values declining across most markets in the state”. 
“Purchasers looking at property should consider that historically low sales activity, softening capital values and increasing rental yields, form an ideal market to buy a property primed for strong returns. These buyer favourable conditions also allow purchasers to exploit their position in the market place to acquire a property at a discounted price,” Maskrey says.
 
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Queensland vendors prefer not to sell at all rather than sell at a deep discount

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Consumers appear far more willing at present to buy a new house than a new car following the Reserve Bank cutting interest rates on November 2, according to the latest Westpac Red Book. 
Westpac’s “time to buy a dwelling” sub-index rose 6.5% to 125.8 to be in “strongly positive territory” and above the long-run average of 122.3 and the 10-year average of 110.4. 
In comparison “time to buy a vehicle” fell 3% in November to be unchanged since August and slightly below its long-term average.
<img src="/images/stories/redbooknov171.gif">
Source: Westpac
According to Red Book editor and Westpac senior economist Matthew Hassan, the strong rise in the time to buy a dwelling index “could be the cue for a housing upturn”.
“However, as with the headline sentiment results, there are some important caveats,” he says.
“Firstly, the rally needs to be sustained. As with headline sentiment, that will depend at least partly on how follow-on moves from the RBA stack up against consumers’ expectations.
“The last three rate cut cycles saw total cuts of 425 basis points, 200 basis points and 250 basis points. Westpac expects the current cycle to see a total of 100 basis points with a steady tempo rather than rapid easing.
“Secondly, job loss fears will need to ease further. A simple model of finance approvals based on the ‘time to buy a dwelling’ index and unemployment expectations suggests the current mix will see soft demand well into 2012.
“We suspect more rate cuts and improvements in both buyer perceptions and/or job security will be required to establish a housing upturn. Even then debt/risk aversion may mute the response”
According to the Red Book, the drop in the ‘time to buy a vehicle’ index, while not too dramatic (the index points to a 2% decline in sales over the next 6mths), is curious “given the backdrop of rate cuts, attractive financing offers from many carmakers and continued falls in vehicle prices (–2.8% in the year to June)”. 
An aversion to new car purchases was particularly strong in Victoria where consumers registered a sharp 11% drop. 
“The state series are very volatile but it seems notable that Victoria consumers have seen less of an improvement in unemployment expectations in recent months compared to their peers,” says Hassan.
Overall, the November Red Book finds that the change in interest rates has delivered “some genuine positives” with a sharp turnaround in consumers’ unemployment expectations noteworthy. 
Lingering anxiety about jobs remains “but there is no longer the sort of escalating fear that in the past has marked the start of significant cut -backs in discretionary spending”. “As such, one of the key downside risks to the near term outlook for consumer demand has improved considerably,” says Hassan.
“The latest retail data has also held up better than expected. We remain very sceptical about the solid growth in total spending shown in the second quarter national accounts, but a milder consumer slowdown than previously envisaged now looks likely.”
<img src="/images/stories/redbooknov17.gif">
Source: Roy Morgan Research
In the shorter term an estimated 625,000 Australians intend to buy a new car in the next 12 months (excluding fleet, government and rental nuyers). Although this is down marginally on the August 2011 figure of 640,000, it remains 14,000 above the short-term average2 of 611,000.
Norman Morris, industry communications director of Roy Morgan Research, says: “Since hitting a record high of more than 2.2 million in March this year, long-term new car buying intentions have declined for the past five months. It’s not surprising to see that consumer confidence has also declined over this same period and therefore great news for the Automotive Industry to see both metrics back up again in September. 
“Of the mainstream brands, Honda has improved the most over the short term, with the Accord Euro driving much of the brands recent gains. 
“Amongst the luxury brands, both Mercedes-Benz and BMW have improved over the recent term, with BMW posting their highest result for 2011. Conversely, after hitting their best result in August this year Audi has declined to 1.5% of total intentions. 
“With many of the luxury marquees having new models destined for our showrooms over the next 12 months (including the Audi Q3 and BMW’s all new 3-Series) it will be very interesting to see if any of the luxury brands can take market dominance away from BMW over the coming 12 to 18 months. 
“The complete Roy Morgan Automotive Leading Indicators Report delivers detailed coverage of the health of the Australian automotive market.”
 
 
 
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Consumers intend to buy a house but holding off on a car: Westpac Red Book

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CBD hotels recorded a total return of 18% for the year ending September 2011, according to the Property Council of Australia/IPD Hotel Property Index, which provides a measure of investment market performance for the hotel sector. 
The total CBD hotels return comprised a positive 8.5% income return and positive 8.8% capital growth. 
Returns for investors in hotels outside of the CBD were less stellar, delivering a total return of 14.9% and underperforming the broader hotel market, which rose 17% for the year on the back of strong capital growth of 7.5%.
<img src="/images/stories/cbrenov16.jpg">
The stronger returns generated by CBD hotels was the result of them benefiting from higher occupancy rates than hotels in non-CBD locations. 
The high demand for CBD hotels reflected strong business from corporate travellers and an undersupply of quality hotels rooms in major CBD markets, the report says. 
Commenting on the report, Tony Ryan, principal of Ryan Lawyers, says that despite the high Aussie dollar and uncertainty in the traditional source market of US and Europe, CBD hotels, in particular, have enjoyed very strong total returns of 18% based equally on income and capital growth. 
“With domestic corporate demand still robust, CBD hotels are hard to beat,” he says. 
Anthony De Francesco, managing director of IPD in Australia and New Zealand, says the hotel sector has shown strong investment performance over the year to September 2011. 
“This is in stark comparison to other asset markets which are suffering from soft returns due to adverse capital market conditions and an unfavourable economic climate.”
“Growth in occupancy rates has placed upward pressure on room rates and has resulted in strong investment returns.”
“We expect the hotel property sector to outperform the other competing core property sectors over the next few quarters.”
 
 
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CBD hotels deliver return of 18%: Report

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Having first had to convince buyers to return to lower Manhattan following the 9/11 terrorist attacks, real estate agents have had a new problem to surmount, Occupy Wall Street protesters, who have been evicted after two months.
According to the New York Metro newspaper, potential buyers were being put off by the income inequality protestors, who set up a tent city complete with porta-loos in Zuccotti Park, near Wall Street, on September 17 and remained until they were evicted by the New York Police Department Tuesday morning.
“The clients are definitely turned off by the idea of walking through a protest to look at apartments,” Bethany Walsh, managing director of the Prime New York, told Metro.
Walsh has learnt to slip past the protest to reach properties she is showing.
“It is a concern for a lot of clients. They ask when is the best time to go down there, how long will it be there,” she added.
“I think my neighbors and I are very thankful that the mayor acted,” neighbour Marybeth Carragher told <a href="https://www.nytimes.com/2011/11/16/nyregion/police-begin-clearing-zuccotti-park-of-protesters?pagewanted=2&amp;_r=1&amp;hp" target="_blank">The New York Times</a>, “but we remain completely outraged for having to endure this for nine weeks.”
Businesses operating in the financial district have reported losses and lay-offs because of the continuing protests, which resulted in barricades being erected around Wall Street. The barricades were only removed last week.
Four weeks ago the Brookfield Properties, which owns the 3,100-square-metre park, backed away from a confrontation with protestors while New York Mayor Michael Bloomberg was loath to evict them for several months until changing his stance yesterday.
“New York City is the city where you can come and express yourself,” the mayor said. “What was happening in Zuccotti Park was not that.”
According to the OccupyWallStreet.org website, the protest movement, which has spread to 100 US cities and actions in over 1,500 cities globally including Melbourne and Sydney, “aims to expose how the richest 1% of people are writing the rules of an unfair global economy that is foreclosing on our future”.
 
 
 
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Occupy Wall Street protest hurting New York real estate 

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Investment demand is expected to remain strong for Sydney’s prime-grade industrial assets that have solid lease convents as investors look for risk-free assets, according to Colliers.
As a result prime-grade industrial yields (currently between 7.75% and 8.75%) are expected continue to tighten over 2012 as a limited supply of such assets remains in place.
Over the past six months prime-grade yields have tightened by as much as 25 basis points, estimates Colliers in its industrial outlook report for the Sydney market for the second half of 2011.
The report notes a number of large high-quality asset transactions occurring in Sydney’s southwest market (Liverpool, Fairfield, Auburn, Campbelltown, Bankstown, Parramatta) over the past six months, bucking the trend of the other Sydney markets and providing evidence that prime-grade yields in the region have begun to tighten by as much as 25 basis points.
One of the most successful developments in this market has been Mirvac’s Hoxton Distribution Park, one of Australia’s largest industrial developments consisting of two state-of-the-art logistics facilities.
Aviva Investors Australian Logistics Property Trust acquired 50% of Hoxton Distribution Park for $97.4 million, the largest industrial transaction this year, equating to a yield of 7.5%.
The industrial park is 100% pre-leased to Woolworths, with Building 1 comprising a 88,914-square-metre purpose-built facility for Big W and Building 2, at 43,317 square metres, to be the national distribution centre for Dick Smith Electrical.
Yields for secondary-grade assets will continue to remain at current levels of between 8.5% and 11% until the risk appetite of buyers returns, Colliers says.
According to Colliers, yields softenened by as much as 50 basis points over the past six months.
Land values continue to remain stable on the back of subdued demand, with the majority of transactions occurring in the sub one-hectare market. 
“These sales were mainly purchases by owner-occupiers who could not find a suitable existing property to acquire or lease and have turned to developing a purpose built asset,” says Colliers. 
A positive development for the market this year has been the record number of industrial construction starts in June 2011, which reached $156 million during the month. 
The short-term forecast shows a rise of 22% in the value of industrial construction over the next three months while the longer-term forecast suggests a rise of 44% in the total value of starts over the next 12 months.
 Overall the outlook for Sydney is one of stability over the coming six to 12 months with the two major drivers the high Australian dollar and the lack of quality stock in the market for sale or lease.
“New development and supply is expected to be subdued, over the next 12 months, as lending and finance remains tight ensuring that only a handful of new developments enter the market during 2012,” Colliers says.
 
 
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Investor demand to remain strong for Sydney industrial property

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The ability of the regional banks to access alternative sources of funding such as the recently opened covered bonds market is key to these lenders being able to compete with the major banks on mortgages and other lending products, according to a new report by KPMG.
Australia’s regional banks comprise Bendigo Bank, Adelaide Bank, Members Equity (ME) Bank, Suncorp and Bank of Queensland.
According to KPMG’s Regional Banks: 2011 Financial Institutions Performance Survey, these four banks remain a “viable alternative to the major banks” in the core markets of retail deposits and home and consumer lending, “producing strong numbers in terms of market share while also managing to increase profit before tax by 16.1%”.
“Market share has been strong and margins have remained tight, rising just three basis points to 1.64%,” says KPMG banking partner Martin McGrath.
However, McGrath says the major challenge for regionals remains accessing funding at a competitive price.
“The regionals have shown that they are a competitive force in the retail deposit market.  However, they are at a competitive disadvantage in wholesale markets, which impacts their interest margin.”
Regional along with non-bank lenders have been impacted by the demise of the once thriving residential mortgage-backed securities (RMBS) market, which provided a cheap source of wholesale funding before the advent of the GFC.
Covered bonds – prohibited in Australia until the government changed the legislation in October in a bid to help banks diversify their funding bases and increase competition in the retail banking market – offer a potentially positive alternative to retail deposits.
The debt securities reside on the balance sheet of the lender and are cheaper than RMBS because they have a higher credit rating.
“It remains to be seen how much uptake there will be by the regionals of covered bonds.  It is clear that the scale of the major banks gives them an advantage, but the advent of covered bonds opens a welcome alternative source of wholesale funding.” McGrath says.
ANZ is expected to raise up to $970 million through a covered bond issue in the US due to be finalised this week, while the other major banks are all holding investor roadshows in Europe and the US.
According to the KPMG report, a concern for shareholders in regional banks is the return on equity for the sector of 6.7% generated over the 2011 financial year.
The strongest performer in this regard was Bendigo and Adelaide banks, with a return on equity of 9%. Bank of Queensland is returning 8% and Members Equity 6.4%. Suncorp returned 3.2% in the 2011 financial year, but this result included non-core business divisions. Suncorp’s core banking unit return on equity would have been 15.6%.
Suncorp has the <a href="/news">biggest mortgage book of the four regional banks at close to $30 billion</a>.
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Regional banks rely on covered bonds to stay competitive

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The recent pick-up in net arrivals in Victoria should boost population growth and drive rental vacancies lower from mid-2012, according to ANZ’s recent housing snapshot. 
“With ongoing pressure from yield-seeking investors to increase rents and moderate house price falls making housing purchase affordability easier, housing finance to the first home buyer segment should begin to gain momentum. This will be fuelled by the added stimulus of first home buyer stamp duty concessions that have been rolled out from 1 July 2011,” the report says. 
The report notes that Victoria’s housing market has performed well compared with other states and territories. 
“With annual population growth moderating from 102,000 in March 2010 to 82,000 in March 2011 and the recent strength of Victoria’s construction cycle only recently beginning to wane, underlying tightness in Victoria’s housing market is expected to continue to ease through 2011-12,” it says.
 
<img src="/images/stories/anzmelbourne.gif">
Source: ANZ
 
 
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Population growth to help Melbourne housing market from mid-2012: ANZ

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Collapsed mortgage broking business Refund Home Loans owes 119 creditors a combined $9.7 million, minutes of the first creditors’ meeting held in Brisbane have revealed.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Earlier reports said Refund was placed into voluntary administration owing $2.5 million. There has been no indication yet as to what the assets of the company are worth.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Creditors include Refund Home Loans franchisees, law firm DLA Piper, mortgage broking training provider Intellitrain and WA-based Ourimbah Holdings Pty Ltd.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">At the meeting administrators said a second creditors' meeting was scheduled for November 16, but won approval from creditors for an extension of up to 45 days. 

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Mortgage industry newsletter MortgageMix.com.au reports that the once “amicable relations between [Refund founder] Wayne Ormond and Refund franchisees have soured quickly”.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">This follows reports that up to 50 franchisees now plan to take legal against the franchisor, serving the brokerage with breach of contract notifications just a month after Refund's original claim the relationship with its franchisees remained cordial.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">A source close to Ormond and the Refund business told Property Observer that top franchisees were urged at a creditors’ meeting on October 24 to continue to trade as normal in an effort to attract a buyer for the business.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">The size of the business – more than 350 franchisees – is one of its strong selling points and could prove attractive to a rival mortgage broking business looking to expand its distribution network.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Before its collapse Refund was valued by Deloitte at between $40 million and $50 million. However, new ventures were being funded out of cash flow since being unable to obtain bank funding.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Refund was placed into administration on October 14.

Property investment coach and mortgage broker Paul Giezekamp says the Refund Home Loans business is history.
Property Observer contacted Refund Home Loans and Ormond but has received no response. 
 
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Refund Home Loans owes creditors $9.7 million as relations with franchisees turn sour

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Sydney’s rental crisis will not be resolved until the state and federal government takes “immediate and sustained action” to encourage property investors back into the market, according to the Real Estate Institute of New South Wales. 
The rallying cry from follows the release of data showing Sydney’s vacancy rate has remained unchanged at just 1.4% in October, while tightening by 0.2% to just 1.3% in the inner-city suburbs. 
Vacancies eased in Sydney’s middle suburbs (10 to 25 kilometres from CBD), up a marginal 0.2% to 1.6%, and in the outer suburbs (more than 25 kilometres from CBD) they are up just 0.1% to 1.4%. 
Alongside a shortage of available rental properties, weekly rents are rising. 
According to the most recent Real Estate Institute Market Facts report for the June quarter, the median weekly rent on a three-bedroom house in Sydney now stands at $400, up 5.3% over the 12 months to June 2011, while two-bedroom apartments and other dwellings are up 7.1% over the same period to $450 a week. 
REINSW president Wayne Stewart says that despite the increases in vacancy rates in some areas, “the overall rental vacancy outlook in NSW remains depressed”. 
“The rental crisis, which has dramatically reduced housing availability across NSW, requires immediate and sustained action by both the state and federal governments to stimulate investment in the residential property market. 
“There will be no relief for tenants until we see interventionist action to encourage private investment as well as slashing planning red tape which is slowing new residential development.
“To create a stable and healthy rental vacancy rate which meets both the needs of tenants as well as landlords, we need to see significant numbers of new rental properties being brought online.
“Until then, we will see growing numbers of people competing against each other for an ever smaller number of available properties,” he says.
Outside of Sydney, rental picture is slightly better in other metropolitan centres, with vacancy rates up 0.6% to 1.9% in Newcastle and up 0.2% to 1.8% in Wollongong.
Vacancy rates fell 0.2% on the Central Coast to 1.7%.
For tips on buying your first investment property, download Property Observer’s free e-book.
 
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Government action needed as Sydney rental crisis worsens: REINSW

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.

Joel Robinson

Newstead apartment boom continues with Longland Street tower plans

ALAND has taken the next major step in delivering its vision for Leppington Town Centre, lodging State Significant Development plans for a $549 million residential precinct that would bring more than 1,200 new homes within walking distance of Leppington Station.

The proposal, now on public exhibition, forms the Residential Core Precinct of the broader Leppington Town Centre masterplan and would transform a 4.3-hectare site at <a href="https://www.apartments.com.au/new-apartments/156-166-rickard-road-leppington-nsw-2179">156-166 Rickard Road</a> into a high-density mixed-use neighbourhood comprising nine residential buildings rising between six and 25 storeys.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="fc20982d-a0a9-4989-8fb3-680ca9fdcd10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.44%E2%80%AFAM.png?VersionId=l5EEyS6Dkf_SLDQkwDeyAU2nXkSZP2RW" />

The development has been designed by Rothelowman and is being pursued through a State Significant Development Application alongside a concurrent rezoning request under the NSW Government's Housing Delivery Authority pathway.

If approved, the project would deliver 1,206 dwellings, including 784 build-to-sell apartments, 208 build-to-rent apartments, 189 affordable housing units and a nine-storey serviced apartment building containing 112 rooms. The proposal also includes around 7,400 sqm of non-residential floor space, new public open space, communal recreation areas and a new internal street network.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="c4f80d3b-cb05-4068-8a87-808317807a99" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.36%E2%80%AFAM.png?VersionId=KfPqh1JBuxc53IWntEzGHAeBaCLmRmum" />

<h2 data-end="1990" data-section-id="s6350" data-start="1941">A key piece of Leppington's future town centre</h2>

The site sits around 250 metres from Leppington Station, which opened in 2015 as the terminus of the South West Rail Link and has long been earmarked as the catalyst for the suburb's transformation from a rural fringe location into a major strategic centre for Western Sydney.

Leppington has become increasingly important following the announcement of the Western Sydney International Airport and the emergence of Bradfield City Centre, with government planning identifying the precinct as a significant location for future housing and employment growth.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="8ca0f098-affc-48c0-80d3-468ea090a20c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.26%E2%80%AFAM.png?VersionId=o3mwgBFT6H9YUllI0JR.JfLsUYQy1CTa" />

According to Rothelowman, the proposal responds directly to Leppington's unique position between its agricultural past and its urban future.

"The site offers an opportunity to weave together multiple layers of history, from its ancient connections to Country along the ridgeline between two waterways and its origins as part of the Cumberland woodland, to its more recent agricultural uses, and its future as a new residential community," the architects said in the design report.

The architects said the project aims to establish a high-density residential typology that combines apartment living with extensive landscaping and public open space.

"The design responds by establishing a high-density typology that combines the convenience and amenity of contemporary apartment living with a renewed native landscape."

<h2 data-end="3541" data-section-id="1ko88s2" data-start="3485">Nine buildings arranged around parks and public space</h2>

The proposal has been designed around a landscape-led framework rather than a traditional podium-and-tower approach.

Across the site, approximately 7,500 sqm of public open space would be delivered through a network of north-south and east-west linear parks, connecting into the wider Leppington Town Centre open space network. A further 8,000 sqm of communal open space would be provided for residents.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f5113abf-5440-4610-9cdc-60a0d41a407e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.55%E2%80%AFAM.png?VersionId=k8zLMj4yZS4hStmGzZJfosjj5iArwIek" />

Rothelowman said the design seeks to maximise landscaping at ground level by concentrating development into compact tower footprints.

"Buildings are carefully lifted and distributed to minimise disturbance to the natural terrain, allowing the ground plane to remain open, permeable, and led by landscape," the design report states.

Rather than creating a continuous podium edge, the design team has focused on allowing landscaping to extend beneath and around the buildings.

"The ground plane is conceived as an extension of the surrounding environment, allowing landscape to flow up to and beneath the built forms."

The architectural language also draws on the area's natural landscape, with Rothelowman describing a material palette influenced by local gum trees, bark textures, creek systems and sandstone tones.

<h2 data-end="4971" data-section-id="s69utu" data-start="4922">Affordable housing and build-to-rent component</h2>

One of the more significant aspects of the proposal is the diversity of housing typologies.

In addition to traditional apartments for sale, the scheme includes a dedicated 25-storey build-to-rent building with 208 apartments and a 22-storey affordable housing building containing 189 homes.

The affordable housing component represents almost 16 per cent of the total dwellings proposed within the Residential Core Precinct.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f87e6808-e462-44c6-bfa8-a3de1816f2e3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.33.36%E2%80%AFAM.png?VersionId=WTsRKiUAyWw18S5S98yQB5oVuDcnJTxB" />

Community consultation undertaken ahead of the lodgement found support for additional housing in the area, particularly given ongoing affordability challenges across South West Sydney. Survey work conducted with local residents found housing affordability was one of the poorest-rated aspects of living in Leppington, while a majority of respondents were open to additional housing within the local government area.

The site's proximity to Leppington Station was identified as the most positively viewed aspect of the proposal, while public open space and affordable housing provisions also received majority support.

<h2 data-end="6184" data-section-id="1ngkie4" data-start="6140">Part of Leppington's broader expansion</h2>

ALAND will be a significant contributor to the broader vision for Leppington Town Centre, which is expected to accommodate more than 25,000 residents as the precinct evolves over the coming decades.

Located within Sydney's South West Growth Area, the 440-hectare Leppington Town Centre has been identified by the NSW Government as a strategic centre spanning both the Liverpool and Camden local government areas.

In 2023, Liverpool City Council and Camden Council, supported by the NSW Department of Planning and Environment, prepared a draft planning proposal to rezone land and amend development controls across a number of sites within the town centre.

The proposal outlines a new vision for Leppington Town Centre, reducing the amount of land allocated for business park uses while increasing land zoned for commercial development, housing and open space. The changes are designed to optimise land use across the precinct and support the delivery of a more walkable, transit-oriented centre anchored by Leppington Station.

&nbsp;

ALAND plots 1,200-home Leppington masterplan

Brisbane-based developer <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a>&nbsp;has enlisted renowned architecture firm Koichi Takada Architects to design its latest new apartment development.

The new 34-storey tower at <a href="https://www.apartments.com.au/new-apartments/57-berwick-street-fortitude-valley-qld-4006">57 Berwick Street, Fortitude Valley</a>,&nbsp;will have 189 apartments, complete with interiors by <a href="https://www.apartments.com.au/architects/byculprit">byCULPRIT</a>. The upper levels&nbsp;capturing views across the Story Bridge, city skyline, ranges, bay and river.

Residents will have access to a rooftop amenity floor with facilities including a pool, spa, sauna, hot and cold treatment, meditation garden, gym, yoga studio, private dining, BBQ, games lounge, wine display wall, work library, meeting rooms and outdoor work areas.

<a href="https://www.apartments.com.au/developers/trk-property-group">TRK</a> Founder and Managing Director, Arpan Kohli, said it will be a project "Brisbane hasn't seen before."

&nbsp;

"To deliver a project of this calibre, you need the right people involved," Kohli said.

"Koichi Takada Architects and byCULPRIT set the benchmarks for design excellence, and this project reflects that - a building of genuine architectural significance in one of Brisbane's most coveted locations, sitting between Howard Smith Wharves and the James Street precinct."

TRK recently launched <a href="https://www.apartments.com.au/new-townhouses/laya-residences-taigum-203-beams-road-taigum-qld-4018">LAYA Residences in Taigum</a>, 88 three-bedroom townhouses starting from $1,495,000. They have another apartment site in Indooroopilly, at <a href="https://www.apartments.com.au/new-apartments/140-central-avenue-indooroopilly-qld-4068">140 Central Avenue</a>. That will have 131 apartments.&nbsp;

&nbsp;

TRK proposes Koichi Takada-designed apartment development in Fortitude Valley

Perth development giant Finbar Group has completed its acquisition of the prominent 236 Railway Parade site in West Leederville, a year after first flagging plans for the transit-oriented development that will become its next major apartment project in Perth's inner west.

The ASX-listed apartment developer has secured the 4,997 sqm mixed use-zoned landholding opposite West Leederville Train Station for around $15 million, paving the way for the proposed Rosslyn Quarter development. The project is expected to deliver <a href="https://www.apartments.com.au/new-apartments/236-railway-parade-west-leederville-wa-6007">around 240 apartments across two towers</a>, alongside ground-floor commercial space.

The acquisition effectively concludes a process that began in mid-2025 when Finbar announced it had entered into a contract to purchase the site, subject to development approval and the finalisation of planning settings under the West Leederville Precinct Structure Plan. At that time, the company outlined plans for a pair of 18-storey towers with an estimated end value of around $200 million.

The site sits within the emerging Rosslyn Quarter precinct, approximately two kilometres from the Perth CBD and directly opposite the West Leederville Train Station. The location also places future residents within walking distance of the West Leederville Shopping Centre, Leederville's hospitality strip, and the neighbouring Subiaco activity centre.

Finbar CEO Ronald Chan said the acquisition builds on the developer's previous experience in the suburb, where it delivered the Motive Apartments project in 2017.

"We have previously enjoyed great success in developing in the West Leederville area given its excellent existing amenity and close proximity to the CBD, Leederville, Subiaco, and the West Leederville train station," Chan said.

He said the scale of the site would allow Finbar to deliver a well-located apartment project while strengthening its long-term development pipeline.

"The substantial scale of this site, with proposed potential for two eighteen-storey towers, will allow the Company to obtain scale benefits which will underpin the delivery of a medium-cost, well-located project," Chan said. "Importantly, this acquisition diversifies and strengthens our long-term development pipeline across metropolitan Perth, enabling us to time our product delivery strategically in line with market conditions."

According to Sterling Property, which brokered the transaction, the site was one of the most significant development opportunities to come to market in Perth's western suburbs in recent years.

Sterling Property Managing Director Brian Neo said opportunities of this scale in established inner-city locations remain tightly held.

"Sites of this scale and calibre, directly opposite a train station and within two kilometres of the CBD, are rarely offered to the market. When they are, they attract serious capital," Neo said.

The acquisition comes as Perth's apartment market continues to contend with limited development-ready sites in established suburbs, particularly those benefiting from both existing transport infrastructure and supportive planning frameworks.

With the West Leederville Precinct Structure Plan now adopted, Finbar can move forward with design development and the development approval process for what is expected to become one of the largest new apartment projects proposed in the suburb.

Finbar completes West Leederville site acquisition for Rosslyn Quarter project

The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.

For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.

Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.

It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.

Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.

[smartcode_project:default project_id=150017 project_image_fid=372547]

Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

[smartcode_project:default project_id=149670 project_image_fid=360975]

While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.

One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.

The city's entrepreneurial culture is also translating into business growth.

Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.

Development activity remains another key indicator of confidence.

There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.

[smartcode_project:default project_id=112024 project_image_fid=343235]

Importantly, the report notes the next phase of investment will need to extend beyond residential development.

While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.

"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."

[smartcode_project:default project_id=108274 project_image_fid=365786]

Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.

Larry Schlesinger

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