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Sydney recorded a median private treaty house price of $616,000 over a four-week period to June 16, figures from RP Data reveals.
This is up $16,000 on a median price of $600,000 recorded for the four weeks to June 9.
Melbourne's median private treaty house price fell from $445,000 to $440,000 over the same period.
Private treaty sales represent around 85% of all dwelling sales across the country.
Data for four weeks to June 16:
<img src="/images/stories/2013/larry_uploads/private_treaty_june_16.jpg" width="470" height="273" alt="private_treaty_june_16">
Data for four weeks to June 9: 
<img src="/images/stories/2013/larry_uploads/june_9_rp_data.jpg" width="470" height="295" alt="june_9_rp_data">
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lschlesinger-FZcF9M3vE6

Sydney leads rise in private treaty median house prices in June: RP Data 

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Borrowers can save around $300 in fees over three years by taking out a variable rate mortgage with a credit union or building society compared with a major bank, research by the RBA has found.
Average fees for a mortgage with a building society or credit union over three years are $803 compared with $1,102 for major banks, $1,160 for other banks and $1,006 for other lenders (non-bank lenders), according to a new paper by Jessica Pratten from the RBA’s Domestic Markets Department.
<img height="253" width="470" src="/images/stories/2013/larry_uploads/bank_fees.jpg" alt="bank_fees">
The fees comprise home loan establishment fees, home loan service fees and loan discharge fees (excluding mortgage exit fees which are banned on variable mortgages).
The figures are based on a $250,000 loan to owner-occupier discharged after three years and includes standard variable and package products and are  a  weighted average based on the share of housing credit for each type of institution.
Since October 2010, the major banks and credit unions and building societies have cut mortgage fees by $19, other banks have cut them by $70 and other lenders by $194.
The major banks have cut services fees by $89 over this time frame but raised establishment fees ($8) and discharge fees ($62).
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Credit union and building society mortgage fees $300 cheaper than major banks: RBA

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There was a small decline in mortgage fees earned by banks over 2012 compared with a rise of 6.5% from 2006 to 2011 a new RBA paper shows.
Banks earned $1.218 billion in mortgage fees in 2012 compare with $1.222 billion in 2011 and $1.377 billion in 2010, according to a paper by Jessica Pratten from the RBA’s Domestic Markets Department.
Mortgage fees were second only to credit card fees ($1.312 billion) and deposit fees ($1.105 billion) earned by banks over 2012.
<img src="/images/stories/2013/RBA_graph.png" width="470" height="381" alt="RBA_graph">
Pratten notes that the slight decline in housing loan fee income occurred despite the 5% increase in mortgage lending over the year.
“This divergence partly reflected the decision by a number of banks to waive application and other fees.
“It also resulted from a continued fall in exit fee income following the Federal Government’s ban on exit fees on variable rate home loans in July 2011.
“In the lead-up to the ban there had been speculation that lenders would increase other fees to compensate for the potential loss of income.
“However, average fees (excluding exit fees) charged on variable rate mortgages discharged after three years have declined slightly for both bank and non-bank lenders since the ban was implemented," she says.
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Banks earning less - just $1.2 billion in mortgage fees in 2012: RBA paper

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Former Williamstown property developer and mortgage broker Carlo Cini, 56, of Altona North, Melbourne has been arrested and charged with a total of 58 offences following an ASIC investigation.

The charges relate to Cini's role as a director of the Williamstown-based company C Cini &amp; Company Pty Ltd, now in liquidation.
ASIC alleges that Cini raised investment funds in excess of $1 million from a number of investors for business-related purposes of C Cini &amp; Company, namely property development, and then used those funds for other purposes.
The funds were raised between 2007 and 2008. "It is further alleged that Mr Cini obtained a financial advantage for the company through the issue of valueless cheques to investors and dishonestly used his position as director through the misuse of investor funds," said ASIC. Cini is charged with the following offences:
<ul>
<li>10 counts of obtaining property by deception</li>
<li>6 counts of fraudulently inducing persons to invest money</li>
<li>17 counts of obtaining a obtaining financial advantage by deception, and</li>
<li>25 counts of a director dishonestly using his position.</li>
</ul>
Liquadator Paul Burness, of Worrells, said following his appointment in 2008 that there appeared to be “significant deficiency” between Cini’s assets ($780,000) and liabilities ($3.5 million) and called it possibly “a classic case of a Ponzi scheme” in comments given to the Hobson Bay Leader.
Burness said at the time there were 37 creditors owed $3.8 million. Many were local Williamstown residents.
Cini, a former Westpac branch manager, claimed there were only about 18 investors.
He appeared in the Melbourne Magistrates Court today (June 20).
His bail was extended and he is to reappear for a mention on September 6 2013.  The matter is being prosecuted by the Commonwealth Director of Public Prosecutions.
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Former Melbourne property developer Carlo Cini charged with 58 offences

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Coastal Queensland including the Gold Coast, Far North Coast and Sunshine Coast remain the weakest property markets in Australia, with more than a third of properties in these locations re-sold at a loss in the March quarter.
This is in stark contrast to the overall performance of the property market where only 12.7% of proprties re-sold at a gross loss, according to figures in RP Data’s quarterly Pain and Gain report.
The report reveals that of the 58,677 residential property re-sales recorded over the March quarter, 87.3% sold for a gross profit.
Nationally, the gross profit from these re-sales equated to $9.6 billion while the gross value of losses was $463.9 million.
The report compares March quarter sales prices with the previous sales price.
It does not take into account things like borrowing costs, interest on loans, renovations or maintenance costs over the period the property has been owned.
The lowest proportion of loss making re-sales were recorded in Canberra (4.8%), Perth (6.3%), regional Northern Territory (6.8%), and Sydney (7.1%).
The worst performing region was regional Queensland with 27.5% of properties selling at a loss with the Gold Coast particularly weak with more than a third of properties (37.1%) selling below their previous purchase price followed by Far North Queensland (35.9%)  and the Sunshine Coast (33.9%).
<img src="/images/stories/2013/pain_and_gain.jpg" width="470" height="196" alt="pain_and_gain">
Source: RP Data
The report also shows that properties bought before the GFC have performed much better when re-sold compared with those bought after the crisis.
“The likelihood of making a gross profit or loss is quite different based on the length of time a property has been owned. As a stark example, those homes that were previously purchased prior to January 1st, 2008 (pre-GFC) and were subsequently sold during the March quarter of this year, only 8% of re-sales were made at a gross loss,” says RP Data national research director Tim Lawless.
“For those homes that were purchased on, or after January 1st 2008, the propensity to make a loss on the sale climbs substantially. Of those homes that sold over the March quarter, 25% recorded a gross loss relative to the previous purchase price,” he says.
According to the report, the likelihood of making a gross profit or loss is quite different based on the length of time a property has been owned.
For properties that made a gross loss over the March quarter, their average length of ownership was just 4.8 years.
Properties that recorded a gross profit were held for an average of 9.7 years, while those homes that recorded a gross profit of more than 100% were owned for an average of 15.4 years.
The median gross profit per profit making transaction was $133,000 while the median gross loss per loss making transaction was $30,000.
The strongest performing markets were regional areas “often associated with the resources sector” which recorded very low rates of loss making re-sales.
Queensland’s Central West, Victoria’s Loddon region and the Kimberley and Pilbara regions of Western Australia all recording fewer than 5% of March quarter transactions at a loss.
In contrast lifestyle regions continued to show the largest proportion of loss making re-sales, particularly within the unit markets as opposed to detached housing markets.
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A third of Gold Coast and Sunshine Coast properties re-sold at loss: RP Data

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The collapse of the debt-laden Lisa Ho fashion group has left prominent shopping centre landlords out of pocket by around $500,000.
A creditors report prepared by voluntary administrator Todd Gammell and Barry Taylor of HLB Mann Judd, appointed in May, reveals that Lisa Ho operated 10 standalone retail stores and seven concession stores within David Jones prior to its collapse.
Seven of these standalone stores and five concessions stores have since been shut down with “the balance of liabilities relat[ing] to lease arrears at appointment of approximately $500,000 and other trade creditors” according to the report:
<img alt="lisa_ho_stores" height="286" width="470" src="/images/stories/2013/01/feb1bennett/lisa_ho_stores.jpg">
The report notes that trustee Perpetual Limited is seeking payment of “$46,406.65 for base rent, outgoings and GST payable pursuant to the lease of Shop 480 in the Chadstone Shopping Centre on 12 December 2012” and commenced proceedings to recover the money in April.
Stores which continue to trade are in Ipoh's Strand Arcade on George Street in Sydney, ISPT’s Wintergarden complex on Queen Street Mall in Brisbane and at 350 Bourke Street in the Melbourne CBD.
The Lisa Ho Group closed the Woollahra store in Sydney prior to the appointment of the Administrators.
A review carried out by the creditors identified problems before the coming was placed in administration including that a number of retail stores were “unprofitable on the basis of the current rental and wage costs given the level of sales with a “number of stores” identified for closure prior to the appointment of administrators appointment.
However, such was the dire financial position – an estimated $11 million worth of debt - that the group was “unable to fund the costs of vacating and terminating the leased sites” – a number of shops had bespoke fit outs financed by St.George Bank.
The report reveals that the Lisa Ho Group made a loss of $2.3 million for the year to June 2012 with sales falling to $13 million.
Also in 2012, the group cut costs by over $1 million by reducing its head office and retail staff.
Lisa Ho sold personal assets including property and furniture amounting to $1.8 million to provide working capital for the failing business.
She also contributed $600,000 to pay wages and other business costs.
 
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Shopping centre landlords owed $500,000 in rent following collapse of Lisa Ho fashion group

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Elana Rubin, the outgoing chair of AustralianSuper and a non-executive director at Mirvac, has joined the advisory board of private real estate investment firm Qualitas, founded by Alan and Carol Schwartz. 
Rubin is one of the most high-profile female directors in Australia with board positions at NAB, PPB Advisory and SecondBite.
Her appointment at Qualitas was revealed by the Australian Financial Review.
She is also a member of the Climate Change Authority and an advisory board member at Evans &amp; Partners
In March she announced her intention to step down as chair of AustralianSuper, one of Australia’s biggest superfunds with $60 billion in assets and over two million members.
She is also a former director at unlisted property fund manager Industry Super Property Trust (ISPT).
She was appointed to the board of Mirvac in November 2010.
Qualitas was founded by prominent businessman and philanthropists Alan Schwartz and his wife Carol, together with managing director Andrew Schwartz (not related).
David Krasnostein is chairman of the advisory board.
Andrew Schwartz is the former head of Australasian real estate at Babcock &amp; Brown while Krasnostein recently retired as the former CEO of MLC Private Equity.
Qualitas focuses on direct investment in all real estate classes and geographies, acquisitions and restructuring of distressed debt, third party capital raisings and consulting services.
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Mirvac director Elana Rubin joins advisory board of Alan Schwartz's Qualitas property investment firm

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This week the NSW government <a href="https://www.propertyobserver.com.au/news/everything-you-need-to-know-about-the-nsw-first-home-buyer-%2415000-grant-scheme/2013061762349?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus" target="_blank">extended its $15,000 first-home buyer grant scheme</a> for new homes only through to January 2016 as part of its June 2013 state budget.
The grant amount was originally scheduled to reduce to $10,000 from January 1 2014. Instead it will now only reduce from January 1 2016.
Following the release of other state and territory 2013-14 budgets over the past few months, the following pages contain the key dates and information first-home buyers (FHBs) and non-first-home buyers need to know in their state and territory as they consider property purchases:
(All information current up to June 20 2013)
NSW
No current expiry date - New Home Grant Scheme
Under the NSW New Home Grant Scheme, a $5,000 grant will be available to buyers of new homes, whether off the plan or newly built, with a value up to $650,000 and to buyers of vacant land that is intended to be the site of a new home valued up to $450,000. This is grant is not available to investors and owner occupiers, not FHBs.
No current expire date - First Home - New Home stamp duty concessions and exemptions
The First Home—New Home scheme provides exemptions or concessions on transfer duty for people who are buying their first home in NSW. This includes buying vacant land on which they intend to build their first home. It provides eligible purchasers with exemptions on transfer duty on new homes valued up to $550,000 and concessions on transfer duty for new homes valued between $550,000 and $650,000.
Eligible purchasers buying a vacant block of residential land to build their home on will pay no duty on vacant land valued up to $350,000 and will receive a concession on duty for vacant land valued between $3550,000 and $450,000.
Duties can be calculated using  the <a target="_blank" href="https://www.apps05.osr.nsw.gov.au/erevenue/calculators/fhnh.php">First Home—New Home calculator</a>
January 1 2016 - FHOG
From this date the NSW $15,000 First Home Owner Grant (New Home) to help eligible FHBs purchase or build a new home, will be reduced to $10,000 with no end date set.
More information: <a target="_blank" href="https://www.osr.nsw.gov.au/benefits/first_home/">NSW Office of State Revenue</a>
 
<hr class="system-pagebreak">
VICTORIA
June 30, 2013
The date the Victorian government ends its $7,000 first-home owner grant. The grant is available if the price of the property or construction of the home does not exceed $750,000. An exception to this requirement is where the contract relates to a home that is on, or to be built on, primary production land.
July 1, 2013
From this date eligibility for the First Home Owner Grant will be limited to FHB of new homes and will be increased from $7,000 to $10,000. To qualify for the Grant, the price of the property or construction of the home must not exceed $750,000.
July 1 2013
The land transfer duty discount for eligible first home buyers purchasing a principal place of residence (PPR) valued at not more than $600,000 increases from 30% to 40%. To be eligible for the duty reduction, the FHB must have received or be entitled to receive the FHOG and must also reside in the property for a continuous period of 12 months commencing within 12 months of settlement.
September 1 2014
The land transfer duty discount for eligible FHBs purchasing a principal place of residence (PPR) valued at not more than $600,000 increases from 40% to 50%.
 
More information: <a target="_blank" href="https://www.sro.vic.gov.au/sro/sronav.nsf/LinkView/B82157FB72EC77C8CA2575CA00826CDD6BF180369BCB3975CA2575A1004420CF">Victoria State Revenue Office website</a>.
QUEENSLAND
No current expiry date - Great Start Grant
The $15,000 grant is available for first-home buyers buying or building a new home valued under $750,000.
No current expiry date – stamp duty concessions
The Queensland government offers stamp duty concessions for both first-home buyers and non-first-home buyers. A scaled first-home concession is available up to $550,000, no duty is paid on vacant land up to $250,000 with scaled concessions up to $400,000. For no-FHBs, the concessional transfer duty rate of $1 for each $100 or part of $100 applies to the first $350,000 of the consideration or value of the home.
<a target="_blank" href="https://www.osr.qld.gov.au/duties/transfer-duty/exemptions-and-concessions/concessions-for-homes.shtml">Full details on concession rates can be found here.</a>
 
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WA
No current expiry date - FHOG
The WA government offers the $7,000 first-home owner grant for both existing homes and new homes. A cap limits the total value of properties (i.e. total value of home and land) to $750,000 or less, or if the home is located north of the 26th parallel to $1,000,000 or less.
No current expiry date - stamp duty concessions for FHBs
When a home buyer is eligible for the FHOG, a concessional rate of transfer duty will apply if the value of the dutiable property is below certain thresholds.
The First Home Owner Rate of Duty applies to a dutiable transaction with a dutiable value of up to $600,000 for a house and land, or $400,000 for vacant land.
If the property includes a home
<table style="width: 470px;" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td valign="top" width="211">
Dutiable Value
</td>
<td valign="top" width="357">
Rate of Duty
</td>
</tr>
<tr>
<td valign="top" width="211">
$0 - $500,000
</td>
<td valign="top" width="357">
Nil
</td>
</tr>
<tr>
<td valign="top" width="211">
$500,000 - $600,000
</td>
<td valign="top" width="357">
$22.51 per $100 or part of $100 above $500,000
</td>
</tr>
</tbody></table>
For vacant land
<table style="width: 470px;" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td valign="top" width="211">
Dutiable Value
</td>
<td valign="top" width="357">
Rate of Duty
</td>
</tr>
<tr>
<td valign="top" width="211">
$0 - $300,000
</td>
<td valign="top" width="357">
Nil
</td>
</tr>
<tr>
<td valign="top" width="211">
$300,000 - $400,000
</td>
<td valign="top" width="357">
$13.01 per $100 or part of $100 above $300,000
</td>
</tr>
</tbody></table>
No current expiry date - stamp duty concessions for principle place of residence
This concessional rate of duty applies to a purchase of a residential property valued at less than $200,000, which will be the primary place of residence for the purchaser.
<ol></ol>
The rates of duty are as follows:
<table style="color: #000000; font-family: Arial, Helvetica, sans-serif; font-size: 12px; width: 470px;" border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td width="235" valign="top">
Dutiable Value
</td>
<td width="333" valign="top">
Rate of Duty
</td>
</tr>
<tr>
<td width="235" valign="top">
$0 - $100,000
</td>
<td width="333" valign="top">
$1.50 per $100.00 or part of $100.00
</td>
</tr>
<tr>
<td width="235" valign="top">
$100,000 - $200,000
</td>
<td width="333" valign="top">
$1,500 + $4.39 per $100.00 or part of $100.00
</td>
</tr>
</tbody></table>
 More information <a target="_blank" href="https://www.finance.wa.gov.au/cms/content.aspx?id=344">available here</a>
SOUTH AUSTRALIA
No current expiry date
The South Australian government offers a FHOG of $15,000 for new homes.  The property value must not exceed $575 000.
June 30 2013
The $8,000 Housing Construction Grant (HCG) will expire on this date. It applies to contracts entered into between 15 October 2012 and 30 June 2013, or in the case of owner builders, where construction commenced between 15 October 2012 and 30 June 2013. A property value cap of $450,000 applies.
June 30 2014
The $5,000 FHOG grant for existing homes expires on this date. The property value must not exceed $575 000.
June 30 2014
Up until this date first home buyers are eligible for an off-the-plan stamp duty concession of up to $21,330 (capped at stamp duty payable on a $500 000 apartment).
The concession is available if you purchase a new or substantially refurbished apartment:
<ul>
<li>within the area of the Corporation of the City of Adelaide;</li>
<li>on any land within the area where the Bowden Redevelopment project (Bowden Village); or</li>
<li>on any land located within the area known as 45 Park, Gilberton;</li>
</ul>
This concession is in addition to the FHOG.
FHBs can work out their entitlements under this scheme on a dedicated <a target="_blank" href="https://www.revenuesa.sa.gov.au/stamps/sdofftheplan">OTP Concession</a> page.
June 30 2016
A partial off-the-plan stamp duty concession will be available for contracts entered into between 1 July 2014 and 30 June 2016.
FHB can work out their entitlements under this scheme on a dedicated <a target="_blank" href="https://www.revenuesa.sa.gov.au/stamps/sdofftheplan">OTP Concession</a> page.
More information on the <a target="_blank" href="https://www.revenuesa.sa.gov.au/IamaFHB">Revenue SA website</a>.
 
<hr class="system-pagebreak">
ACT
August 31 2013
The existing $7,000 FHOG will end on this date. The cap limits the total value of eligible properties (i.e. total value of home and land) to $750,000 or less.
September 1 2013
FHBs in the ACT will receive $12,500 if they buy or build a new home or one that has been substantially renovated. 
August 31 2013
On this date the Home Buyer Concession Scheme (HBCS) to assist persons in purchasing a new residential home or residential vacant land by charging duty at a concessional rate ceases. The HBCS applies to new or substantially renovated properties for transactions dated 5 June 2013 to 31 August 2013.
The property thresholds and concessional duty rates are worked out in accordance with the following table.
<table style="width: 470px;" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="255">
If the Dutiable Value of an Eligible Property or Eligible Vacant Block is… 
</td>
<td valign="top" width="274">
the Concessional Duty Payable… 
</td>
</tr>
<tr>
<td valign="top" width="255">
equal to or less than the lower threshold
</td>
<td valign="top" width="274">
is $20
</td>
</tr>
<tr>
<td valign="top" width="255">
more than the lower threshold, but less than the upper threshold
</td>
<td valign="top" width="274">
is the concessional duty rate for each $100 (or part thereof) by which the dutiable value exceeds the lower threshold (with a minimum of $20 payable)
</td>
</tr>
<tr>
<td valign="top" width="255">
equal to the upper threshold or more
</td>
<td valign="top" width="274">
does not apply (i.e. there is no concession and full duty is payable)
</td>
</tr>
</tbody></table>
 
1 July 2012 – pensioner duty concession
The Pensioner Duty Concession Scheme (PDCS) is to assist eligible pensioners to move to accommodation more suited to their needs (e.g. from a house to a townhouse) but who may find the duty involved to be a significant impediment.  Such persons are assisted to purchase a residential home or residential vacant land by paying duty at a concessional rate.  The PDCS has been extended for a further three years from 1 July 2012. The latest upper and lower value thresholds, which are updated every six months for eligible property and vacant land (usually 1 January and 1 July) to ensure that they remain current, <a target="_blank" href="https://www.revenue.act.gov.au/home_buyer_assistance/pensioner_duty_concession/1_January_2013_-_30_June_2013">can be found here</a>.
More information on the <a target="_blank" href="https://www.revenue.act.gov.au/home_buyer_assistance">ACT Revenue website</a>.
Tasmania
June 30, 2014
Up until this date, Tasmanian FHBs of established homes are entitled to a $7,000 grant. The grant is not means tested and there is no cap on the value an eligible home.
June 30, 2014
Up until this date the $8,000 First Home Builder Boost Scheme grant available to Tasmanians building a new home (including off-the-plan) if the qualify for theFHOG will end on this date.
July 1, 2014
From July 1, 2014, the FHOG is only available to those who buy or building a new home, including off the plan and house and land packages.
More information can be <a target="_blank" href="https://www.sro.tas.gov.au/domino/dtf/SROWebsite.nsf/v-all/1D7587F444344511CA2575C10011ACBE?OpenDocument&amp;menuitem=First%20Home%20Buyers">found here.</a>
 
<hr class="system-pagebreak">
Northern Territory
No current expiry date - FHOG
The Northern Territory offers a FHOG for both new and established homes that remains ongoing. FHOG is not means tested however, from 1 January 2010 eligibility ceases to apply if the consideration for, or the value of the home is more than $600,000. The amount of the grant increased on 4 December 2012 in relation to eligible transactions that commenced on or after that date. From that date, the amount of the grant also varies depending on the type of transaction and location of the property.
The amount of the grant is the lesser of the consideration actually paid for the eligible transaction, or:
<ul>
<li>$12,000 if the home is an established home in the urban area;</li>
<li>otherwise - $25,000</li>
</ul>
An urban area means all land located wholly within the boundaries of: the Darwin, Palmerston or Litchfield municipalities; Wagait Shire; the Darwin Waterfront Precinct; the “prescribed area” for the Darwin Rates Act, any other area prescribed by regulation.
No current expiry date – stamp duty concession
The Northern Territory Government provides a stamp duty Principal Place of Residence Rebate (PPRR) to persons purchasing a new home or land on which to build a home.  A new home is a home that has never been previously lived in or sold as a place or residence. Substantially renovated homes may be considered as a new home for the purpose of the PPRR. The PPRR is an amount up to $7000 off the duty payable.
A calculator is available on the NT government website to work out the <a href="https://www.treasury.nt.gov.au/TaxesRoyaltiesAndGrants/StampDuty/StampDutyCalculators/Pages/PPRR-Calculator.aspx">amount of duty payable</a>.
No current expiry date – Senior, pensioner and carer concession
The Senior, Pensioner and Carer Concession (SPCC) aims to assist eligible senior citizens, pensioners and carers that are not first home owners acquire a home or land on which to build a home by reducing the stamp duty that would otherwise be payable. The SPCC is an amount up to $8,500 off the stamp duty payable which represents the stamp duty on approximately the first $263,200 of the value of the property acquired.
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State by state government property grants and stamp duty concessions: The expiry dates you need to know

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Echo Entertainment’s Jupiters Casino on Broadbeach on the Gold Coast is in urgent need of refurbishment, according to Gold Coast mayor Tom Tate.
Speaking at a Property Council of Australia lunch this week, Tate labelled the casino a "three-star property” that did not represent the city well enough, in a speech reported by the Gold Coast Bulletin.
Echo Entertainment earmarked refurbishments to its Queensland casinos – Jupiters and Treasury in Brisbane - with a $625 million program in December 2010 that would transform them into “world class entertainment destinations” with plans to build two new hotels over the next five years.
But Tate said people preferred to fly to the recently revamped Echo-owned The Star casino in Sydney or go to James Packer’s Crown Casino in Melbourne.
At the lunch News Ltd ppaers noted he repeated a talk with he had earlier in the year Echo CEO John Redmond telling him if they did not spend money, Jupiters would be left behind.
"Then I said, 'If you don't like hearing the truth, we won't have dessert together,’ said Tate.
He called on Echo to fast-track a $350 million redevelopment of the casino, as promised in December 2010.
Echo is currently embroiled in a battle with James Packer over casino rights in Brisbane and Sydney.
Echo has sole casino rights in the two cities, but Packer is seeking the state government approval to build a casino at Barangaroo.
Echo is seeking to expand the Star and extend the period of its exclusive casino licence beyond 2019 - but only one project will receive approval according NSW premier Barry O'Farrell.
If Echo wins its battle with Crown, it plans to build a new casino in Brisbane, which would further delay plans to refurbish Jupiters.
Jupiters Hotel and Casino managing director Aaron Gomes said development of both Brisbane and Jupiters was dependent on the “whim of the state government”.
Echo’s February half-year results to December 31 reveal “weakness across its Queensland properties” which offset the strong performance of The Star casino.
Echo blamed this on a “softer consumer environment” in Queensland.
The results also reveal developing a new casino in Brisbane is a key priority.
“Queensland properties unlikely to fully realise underlying potential of markets until investment is made – clarity on Treasury Brisbane relocation remains first priority,” say the results.
They also reveal that discussion with the Queensland government “over potential investment in Brisbane and Gold Coast” are continuing.
 
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Jupiters Casino a "three-star property" that needs refurbishment: Gold Coast mayor

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Predicting future growth in property values on the Sunshine coast remains “difficult enough” and “even harder” over the next fiver years, says Herron Todd White in its June market review.
However, it says finding properties with the attributes that cause any type of growth in the property market will most certainly work for both the short and long term on the Sunshine Coast.
In the case of this market, HTW says the market fundamentals of “being close to the beach and/or providing views are always solid components for capital growth opportunities”.
“While properties with these attributes felt some of the pain as the market came ‘off’, the fact that these properties are difficult to replicate helps to ‘underpin’ values to a certain extent,” says the valuation firm.
It picks areas such as the Kawana stretch east of the Nicklin Way, elevated areas of Buderim with views and coastal areas east of the David Low Way up to Noosa as some spots to look out for.
HTW says owner-occupiers and investors are both typically active in these areas with opportunities around the $400,000 to $500,000 range.
"The unit market is a little bit of a tougher market to predict. essentially the coastal areas remain the pick.
"Owner-occupiers and investors are wary of large holiday let complexes with high body corporate levies.
"The 1980s high-rise version is OK, if the building has undergone a refurbishment. otherwise check out the 10 year plan for future upgrade levies. Your ranges here are $450,000 to $600,000.
"Well located 1980s walk-ups with low body corporate fees in the $300,000 to $400,000 range close to beach are being seen as an alternative option by buyers.
HTW notes that existing units are more competitively priced than new one so so offers better future upside for capital growth.
"The unit market is much more thinly traded than homes and values have risen only marginally, so future capital gain potential is better than for houses," says the firm.
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Under $500,000, close to the beach or with a view the best “opportunities” for investors on the Sunshine Coast: HTW

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

Joel Robinson

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

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

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

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

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

Larry Schlesinger

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