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The <a href="/expert-insights/buying/how-will-the-coronavirus-impact-australia-s-property-market">corona virus crisis</a> has had a devastating impact on many livelihoods, resulting in thousands of job losses, record unemployment, and great uncertainty for would-be first home buyers in terms of their ability to obtain and service a home loan.

The crisis has also severely impacted property sellers who have had to endure a period of months during which social distancing rules restricted the ability to hold in-person open house inspections and conduct sales auctions, with the result that many sellers have been forced to postpone the sale of their property. On the other hand, those sellers who were not subject to time pressures have simply withheld their property from the market to avoid the prospect of it languishing there for months without enquiries from interested buyers – or worse, being perceived as a desperate seller and only attracting “low-ball” offers.

On the flipside of all this doom and gloom, the pandemic has also coincided with the lowest home loan interest rates in living memory, which have been predicted to remain with us for the next few years. That fact, coupled with new incentives being proposed by the government to assist first home buyers in particular, has encouraged many people who may not have sufficient resources of their own to be able to obtain a loan from a bank to look to the “bank of mum and dad” for assistance, especially in terms of helping out with getting the essential deposit for the purchase. In some cases the solution has been for the purchaser’s parents to even become a part owner in the new property.

Whilst these strategies may have enabled many first home buyers to get into the <a href="/expert-insights/buying/4-reasons-to-have-faith-in-australia-s-property-market-for-the-long-run">property market </a>and perhaps take advantage of both record low interest rates as well as the odd real estate bargain where a seller was indeed forced to sell at less than fair market value, there are some traps for first home buyers (and their parents) in these arrangements that need to be considered carefully to avoid future discord, such as:

Making a gift or a loan?

Often the home buyer has the ability to service a loan, but can’t scrape together enough funds for the initial deposit. In these circumstances often their parents are called upon to assist with a cash contribution.

In many cases the bank will want to see this parental contribution styled as a gift, so that the bank does not need to be concerned about taking into account the impact on borrowing capacity of this additional loan commitment (and also to ensure that the bank maintains first preference in terms of any security obtained for their lending).

However, if the amount is significant, irrespective of how the contribution is treated as far as the bank is concerned, it would be much preferable for the parents if the contribution was treated as a loan as between themselves and their child for the following reasons:

<ul>
<li>As a loan, it means that it can if necessary be paid back to the parents. Whilst the parents may believe that they do not need the loan to be repaid, as they get older they may find that their health is deteriorating and they need to access funds to pay for emergency surgery or other ongoing increased medical needs such as going into aged care or hiring a nurse for at home care. Whilst it is important to help out your family members when you can, you cannot ignore the possibility that unforeseen health and medical circumstances may mean that you need the return of the funds more than your child needs them.</li>
	<li>Whether or not the loan is ultimately repaid, it is also a clear reminder of how much the parent has provided in support to their child, and can be taken into account in the parent’s estate planning after they die - and if it is never repaid at least it can be netted off against that child’s share of their parent’s estate.</li>
	<li>Often the loan is made on the basis of being interest free and repayable on demand. However, whilst the issue of payment of interest is entirely up to the parent, by making the loan repayable on demand the 6 year period under the relevant statute of limitations begins to run from the date of the loan, so that unless the loan is in some way acknowledged by the borrower during that period it will become unenforceable after that period expires. A better approach would be to specify a number of years as the loan term, which may be subject to early repayment and any specified events of default (like a bank loan) that may trigger earlier repayment.</li>
</ul>
Lending to a couple

Often the borrower child is in a legal or de facto relationship with another person. If so, another reason why it may be <a href="/guides/how-to-secure-a-mortgage-free-lifestyle-sooner">desirable for the loan</a> to be repayable is that in the event that the relationship breaks down, the parent would wish to exclude the amount of the loan from any settlement between the child and their former partner. If so, the following points should be observed:

<ul>
<li>The loan should be secured against the home, ideally by a registered mortgage;</li>
	<li>If the property is to be purchased in both names of the couple, then the loan should also be made to the couple to ensure that the child’s partner is also primarily responsible for repayment (including on the untimely death of the child) – if the child’s partner resists, it needs to be pointed out that this is a condition of the loan being made at all in the first place;</li>
	<li>The loan should be made on ordinary commercial terms (like a bank loan), although it is up to the parent whether they wish to require the payment of interest. However, if interest is specified to be repayable only upon repayment of the loan, and one of the events that may trigger early repayment is a relationship breakdown, it may enable some portion of any increase in the value of the home itself to be recovered by way of the payment of interest.</li>
</ul>
Consequences of parental co-ownership

In some cases it may be decided that the parent should become a co-owner with the child, where the proportion of ownership by the parents correlates with the proportion that their financial contribution represents of the total purchase price.

This strategy has the advantage that the loan amount is automatically secured by reason of the co-ownership of the property by the parent. However, some consequences need to be borne in mind:

<ul>
<li>Capital gains tax may be payable by the parent on any capital gain made in relation to the sale of their <a href="/guides/5-key-tips-to-buying-an-off-market-property">share of the property</a>, unless they also live in the property as their own principal place of residence;</li>
	<li>Land tax may be payable by the parent in respect their share of the property, unless they also live in the property as their own principal place of residence;</li>
	<li>If the parent dies, their share of the property becomes part of their deceased estate, and may be subject to the terms of their Will. In this situation it would be important for the parent to make a specific provision regarding their co-ownership share of the property in their Will, such as leaving their interest in the property to their child (or to the child and their partner, as the case may be).</li>
</ul>
Going guarantor

Another popular method of a parent providing financial assistance for a child buying their first home is to agree to be a guarantor for the loan. The main advantage of this approach is that it does not require any upfront cash payment by the parent. However, it is absolutely fraught with danger for the parent, particularly if the parent has to provide security for their guarantee (such as by a registered mortgage over their own separate real estate). In these cases it is not unheard of for the failure of the child to make their loan repayments to result in the loss of not only their own home but also that of their parents!

If agreeing to be a guarantor for their child is the only option that will enable the child to obtain a bank loan, then at the very least it should be agreed with the bank to limit the amount of exposure of the parent under the guarantee – for instance, if the reason for requiring the guarantee is that the child could not come up with a 10% deposit, then the amount secured by the guarantee should be limited to the dollar amount representing that deposit.

Conclusion

The “bank of mum and dad” is these days an important resource for many first home buyers to get their foot in the door of the property market. Whilst that can be a sensible strategy in these trying times, the traps for the unwary must be borne in mind and guarded against wherever possible.
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Nick Dante

The Traps for First Home Buyers Borrowing from their Parents

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I wanted to discuss how residential developments have put in place hotel operational models into these types of buildings and how you can look at alternatives within your own development strategies for an exit, greater flexibility, and/or return.  The idea of a residential developer to look to include a hotel operation within its scope is for these reasons and also varies. 

Typically the developer will allow a mixed-use to accommodate various solutions. One is a “turn key” solution which is the sale of the hotel component as a single line, this allows a reduced percentage of pre-sales required on the remaining residential apartments to seek construction debt funding. However not <a href="/news/hotels-hotels-hotels-why-so-many-new-hotels">all hotel operators</a> like to buy freehold, therefore the other options are to treat this stock as investment stock and take the strata units to the market with a guaranteed return, thus allowing the operator to have a lease in place. 
You may still sell as a single line entry to a freehold investor or typically in these arrangements individual passive investors. In return, the operator is managing a number of landlords vs one. 

A Developer likes to take to the market a guaranteed return and in addition a brand that has loyalty in the marketplace for the success of pre-sales for such stock. A great marketing strategy.  Most new developments provide a lifestyle product that reflects the DNA of a hotel and vice versa “a home away from home”, so there is a natural fit for the residential and hotel operations to co-exist. New developments are also providing concierge services and only make sense having a strong reputable operator to deliver on these services for not only hotel guests but residential owner-occupiers. 

Another option is providing a structure under management rights, the investor of the apartments in these buildings gets the income of the short term letting and in return, the Hotel Operator receives a management fee income. This is a higher return for the investor if appropriately appointing the right operator, a risk-reward option, and also depends on the investor risk profile if this is best suited (hence the lease option as an alternative).   By setting management rights this way generally only works in large residential complexes to cater enough into the rental pool for short term letting to make the hotel operation profitable. The ideal number is 80 rooms. 

The lease and freehold options depend on the product type and its market so this can vary in terms of how many rooms is necessary. It is crucial that the developer prior to going to the market assures and does the appropriate campaign to obtain the right operator that performs, has a loyal brand, strong reputation and has a natural fit for the product that they are branding themselves to whom their buyer is. <a href="/developers">As a developer</a>, there are many benefits in terms of brand, value proposition, and some comfort when trying to get the residential development out of the ground. It is always necessary to carry out your feasibility to ensure the demographic precinct caters towards the short term letting that in turn will meet the investment demand and appetite.
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Hotel Operations in a Residential Development - benefits for the developer.

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We all want to ensure our loved ones are cared for in the event that the unexpected occurs. Despite this, new research by <a href="http://comparethemarket.com.au/">Comparethemarket.com.au</a> reveals many of us don’t have a will – specifically, <a href="/guides/how-to-secure-a-mortgage-free-lifestyle-sooner">48 percent of mortgagors</a>. Not having a will can lead to issues around who benefits from assets left behind and how any debt is settled, potentially causing a great deal of stress for family members.

Sitting down to write a will is something that all Aussies should plan for, but at what point in life do people start developing this important legal document? The research shows that mortgage holders with a will are most likely to organise theirs when they purchase a property, with a quarter of 18-29-year-olds choosing to finalise their will in conjunction with buying their first home. This shows that entering the property market is a major milestone, which is understandable since the average Aussie mortgage sits at $384,700.

Since laws around how assets are distributed differ slightly between the States, those who are seeking advice for their own circumstances should contact a professional to talk about handling their will. To help Aussies get a clearer idea of what could happen if they pass away without a will, below are some facts on how assets are distributed, who can benefit and who can become the guardian of children when there is no will involved.

4 facts based on commonly held beliefs around passing away without a will:

<ol>
<li>Your family or partner could be taken to court if others want to lay claim on your assets. If a person dies without a will, the spouse is first in line to receive the entirety of the assets. If there is no spouse available, the estate will go to the first eligible relative moving down the line of succession, with each category being exhausted before moving to the next. This follows an order outlined by the State – children, parents, siblings, grandparents, aunts and uncles, then cousins. If someone does want to take a family to court over how assets are distributed in this case, it is often very time-consuming and expensive and may not even be successful. 
	 </li>
	<li>Your family has no say in the distribution of your assets. As stated in point one, if a person dies without a will, their spouse is entitled to the entirety of the assets. If there is no spouse, however, assets will be inherited by the next available relative and distributed equally. It is only if there are no eligible relatives that assets are passed onto the State. From there, an application must be made by anyone wanting to make a claim. 
	 </li>
	<li>Your partner or family might be forced to sell your assets. Sometimes an individual may make a claim for a larger portion of the deceased individual’s assets. If there is no will outlining the intentions of the deceased, their partner or family may have to sell assets to meet the share. Assets may also be liquidated to pay out debt if bankruptcy is declared when there are more liabilities than assets. The research by comparethemarket.com.au found that<a href="/guides/how-to-secure-a-mortgage-free-lifestyle-sooner"> 22 per cent of respondents</a> incorrectly assumed that in this case, their partner or family members wouldn’t be forced to sell assets for other parties to claim a share. 
	 </li>
	<li>Someone you didn’t expect could become the guardian of your children when you die. If a parent has children under the age of 18 when they pass away, guardianship is automatically given to the surviving parent. However, if there is no surviving parent or the other parent refuses the role, the court may select a guardian – who may or may not be an individual you had in mind. If the deceased individual sent a letter or text message mentioning the intentions of guardianship in the event of your death, the court might also consider these informal documents. </li>
</ol>
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Half of Aussie mortgagors don’t have a will – but where does that leave your assets?

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Living in a luxury apartment with all the <a href="/buildings/sapphire-by-the-gardens-63-la-trobe-street-melbourne-vic-3000">amenities</a> is an absolute pleasure. You get the full use of a <a href="/buildings/hawthorn-park-33-camberwell-road-hawthorn-east">resort style pool </a>and lounge without having to worry about cleaning the pool filter every day. There is the barely used gym with brand new, five-star equipment that is always clean and fresh. All gardens and common areas are maintained by discreet gardeners whom you never see. And of course, let us not forget the wine room with a 15-seater table and individual wine fridge for each apartment owner to store that chardonnay they picked up while on holiday.  

Apartment complexes such as these have become far more common and whilst there are hefty strata fees, this has done little to dissuade purchasers. It is not unreasonable to expect owners to pay well into the thousands per quarter, depending upon their unit entitlement. Both owner occupier and investors has been quick to see the appeal of high-end amenities. 

However, we have noticed a trend that sees buyers being deterred by high strata levies, especially if they are worried about cash flow. This is often the case with downsizers who are asset rich but cash poor. It is also the case that some purchasers feel they will not use the amenities so therefore do not wish to pay high levies for services they will not utilise. 

Developers have been quick to recognise this shift in the buying trend and are creating schemes to cater for this <a href="/expert-insights/8-of-nsws-top-luxury-apartments">particular buyer demographic</a>. Ensuring that they purchase lots that are close to upmarket shopping strips, cafes, pools, beaches and gyms, they are providing these amenities in easy walking distance to potential residents. 

The communal areas that have been provided are being exceptionally well received by this type of buyer. <a href="/news/martin-brothers-sees-the-rooftop-amenities-area-take-precedence-across-brisbane">Rooftop terraces</a> with open lounge areas for all residents and their guests to enjoy are perfectly sufficient. Often these areas are accompanied by BBQ’s and kitchen facilities to be used by guests. Many schemes have implemented an online booking platform so residents may book out certain areas should they wish to entertain a larger number of guests – all for no extra charge.  

Whilst there will always be a market that likes the extra amenities that larger developments offer, developers should not discount purchasers who will be attracted to a property with lower strata costs and simple, communal amenities.
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Let’s get real about strata levies

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Introduction

We recently considered the restrictions that are placed on the powers of an owners corporation during the initial period of a strata scheme. Those restrictions exist to reduce the scope for a developer who controls an owners corporation to make decisions during the initial period that are not in the interest of the owners corporation. But what happens when those initial period restrictions are breached by a developer? What are the consequences for a developer? In this article we take a closer look at that issue.

The Initial Period 

The initial period of a strata scheme <a href="/guides/how-to-make-strata-fees-work-in-your-favour">commences when the strata plan</a> is registered and ends when the developer has sold lots whose unit entitlements are at least one third of the aggregate unit entitlement. Typically, during the initial period, the developer controls the owners corporation and the decisions that are made by the owners corporation because the developer owns the majority of the lots during the initial period. Over time, some developers have abused their powers during the initial period and have made decisions that are not in the interest of the owners' corporations that they control. In many cases, those decisions have involved the approval of building management or caretaker agreements that run for many years and that are on commercial terms that favour the building manager or caretaker.

Initial Period Restrictions

As a result of a perceived abuse of power by developers during the initial period, the strata legislation was amended to introduce restrictions on the powers of an owners corporation whilst it is under the control of a developer during the initial period. Some of those restrictions are now found in section 26 of the Strata Schemes Management Act 2015. One of those restrictions prevents an owners corporation from incurring debt for an amount that exceeds the amounts that are available for repayment of the debt from its administrative fund or its capital works fund. What does that restriction mean? And when can it be used against a developer? Those questions were considered in a case involving “The Carlisle”.

The Bondlake Case

“<a href="/buildings/the-carlisle-33-37-carlisle-street-rose-bay">The Carlisle</a>” is a strata building containing 139 apartments situated at 105-113 Campbell Street, Surry Hills. The strata plan for the building was registered in 1999. A little over one week after the strata plan was registered, the developer convened and held an extraordinary general meeting of the owners corporation. At the time of the meeting, the developer was still the owner of all of the lots in the building. At the meeting, the owners corporation passed a resolution to enter into a caretaker agreement for the appointment of a caretaker for a period of five years with three options for renewal each for five years. The caretaker agreement was signed on the day of the meeting.

A Breach of the Initial Period Restriction

The agreement required the caretaker to carry out specified duties for the owners corporation in return for a payment of a fee. The fee for the first year of the agreement was $84,042.00. The fee was payable by monthly installments the first of which was due on the date the agreement started. At the time the agreement started, there was no money in the administrative fund or the capital works fund of the owners corporation. Three days later the caretaker issued an invoice claiming payment of the first monthly caretaker fee.

The Owners Corporation’s Claim

The owners corporation claimed that the caretaker agreement had been entered into in breach of the initial period restriction which prevented the owners corporation from incurring a debt for an amount that exceeded the amount then available for repayment of the debt from its administrative fund or capital works fund. The owners corporation claimed that the breach of the initial period restriction meant that the caretaker agreement was invalid and null and void.

Was the Agreement Null and Void?

The <a href="/new-apartments/rose-bay-nsw-2029">NSW</a> Court of Appeal agreed that there had been a breach of the initial period restriction because the court held that the owners corporation incurred a debt by entering into the caretaker agreement and became liable to pay the first monthly caretaker’s fee when the caretaker issued its first invoice and at that time the owners corporation had no money in its administrative fund or capital works funds. However, the court did not agree that this resulted in the caretaker agreement being null and void. The court said that the strata legislation did not intend that an agreement that was entered into by an owners corporation in breach of the initial period restriction would be rendered null and void. The court did not consider that it would be fair to visit upon innocent persons dealing with the owners corporation, such as the caretaker, the extreme consequence of invalidating their agreement and making it impossible for the innocent party to recover fees claimed under the agreement. This meant that the caretaker agreement would continue even though it was entered into in breach of the initial period restriction. 

Consequences for the Developer

One of the reasons the court concluded that the caretaker agreement was valid is because the strata legislation provided the owners corporation with remedies against the developer. For example, the legislation gives an owners corporation the right to recover <a href="/developers">from a developer</a> any amount for which it is liable because of a breach of the initial period restriction on incurring a debt. In other words, the owners corporation of “The Carlisle” could have sued and recovered from the developer the fees it was liable to pay the caretaker under the caretaker agreement. Section 26 of the Strata Schemes Management Act 2015 still gives an owners corporation the right to sue and recover from a developer any amount for which it is liable because of a contravention of the initial period restriction on incurring a debt. A developer who is sued under that section is given limited protection by the legislation. The developer can gain protection if the developer can show that he or she did not know that the initial period restriction had been breached or was not in a position to influence the conduct of the owners corporation in relation to that breach or used due diligence to prevent the breach.

Conclusion

The purpose of the initial period restrictions is to protect the people who become owners in a strata scheme after the end of the initial period from burdensome arrangements entered into by the developer before the owners corporation comes under the control of the owners. A breach of those initial period restrictions by a developer can have dire financial consequences. For that reason, it is important for any developer to be familiar with the initial period restrictions that apply to an owners corporation and to be careful not the breach of those restrictions. 
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Initial Period Restrictions – A Trap for Young Players

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Property Investors Require Tax Relief Now.

The Property Industry has been the Achilles heel of the Australian economy since the 1800’s, <a href="/developments">Australian property</a> prices grew on average 0.5% per year from 1890 to 1990 after inflation and for the vast majority of Australians, purchasing a property will be their largest investment in their lives.

So here lies the question, why since 1851 has the government introduced so many new tax laws, so many changes and you simply require being an accountant, a tax expert and property lawyer rolled into one to make any sense of all these changes. 

We all enjoyed listening to Kerry Packer famous quote, when he was questioned for trying to evade tax.

Kerry Packer Quotes

“I pay whatever tax I am required to pay under the law, not a penny more, not a penny less... if anybody in this country doesn't minimize their tax they want their heads read because as a government I can tell you you're not spending it that well that we should be donating extra.”

For the average Australian, this simply causes greater confusion and for any foreign investor, the tangled web makes; doing business in Australia too difficult.   They simply look to invest in other countries such as America, Canada and the UK, as the top three countries Australia competes with on the Global Property Investment footprint.

From 1990 to 2017 property prices grew far greater than 0.5% per year, due to vast population growth was the reason for pushing property prices higher than we had paid for in the years previous.  Also relaxing credit guidelines, allowed for borrows to purchase properties with a 10% deposit. The Productivity Commission Inquiry Report No. 28 First Home Ownership (2004)

"That Growth in immigration since the mid-1990s has been an important contributor to underlying demand, particularly in Sydney and Melbourne.”  

Projections for population growth <a href="/developments/melbourne-vic">in Victoria,</a> was to exceed <a href="https://blog.id.com.au/2014/population/demographic-trends/how-urbanised-is-australias-population/">10 million people</a> by 2051. 
House prices rose by an average of <a href="/developments/sydney-nsw">64% in Sydney</a> and Melbourne in the decade from 2004 to 2014. At the same time foreign investment proposals in developed real estate rose by almost tenfold.

The numbers are hard to find and a little rubbery, but our best econometric estimate is that about one-quarter of the growth in house prices in Sydney and Melbourne can be attributed to foreign investment.

If the foreign investment had been steady over the period, average house prices would have grown by about 50% compared with the actual growth of 67%.  The hype about Chinese buyers driving up house prices appears to be overstated – at least in terms of the effect on average house prices – there may have been more significant effects in certain locations.  The Parliamentary Inquiry essentially came to this conclusion. It found that there is no accurate data on foreign investment in Australian real estate and therefore “no-one really knows how much foreign investment there is in residential real estate”.

Why did Melbourne, Australia attract so such a spike in population?

The Australian economy expanded by 1.9% in chain volume terms in 2018-19, the 28th consecutive year of economic growth.  The easing growth in household consumption was driven by discretionary spending, which declined from 3.3% in 2017-18 to 1.4% in 2018-19. Purchase of vehicles fell for the first time since 2008-09, while spending on hotels, cafes and restaurants (1.6%) and furnishings and household equipment (1.1%) were subdued.

Future threats to the sector include a forecast substantial undersupply of dwellings entering the market in FY19/20 and FY20/21, weak purchasing power due to low wage growth, a reduction in the availability of finance for purchasers and the significant retreat of investors from both the greenfield and apartment markets 
State and Local Governments need to continue delivering planning and development approvals and essential infrastructure to ensure they are available to meet real demand and to enable the development industry to deliver a robust pipeline of new housing, jobs and economic value for Victoria.

Here is a timeline of taxes on the property sector alone since 1877: 

<ul>
<li>1877 - Land tax is first imposed to break up large holdings in Victoria. Land tax is administered by the Chief Secretary's Department until 1884 and then by the Department of Crown Lands and Survey.</li>
	<li>1895 - Victoria introduces income tax on all income derived by a person and on the revenue of companies. An Income Tax Office is established in the Treasury to administer the new tax.</li>
	<li>1930 (The Great Depression)  - The Victorian Government passes legislation imposing additional income tax and stamp duty on wages to provide for the relief of unemployment.</li>
	<li>1992 - The Stamp Duties Office and State Taxation Office merge and the position of Commissioner of State Revenue created.</li>
	<li>1999 - The Inter-Governmental Agreement on Federal Financial Relations is signed by the Commonwealth and the States, affirming their commitment to a new national taxation system including the elimination of a number of inefficient taxes including:</li>
</ul>
Financial Institutions Duty,

<a href="/guides/how-to-buy-a-house-in-2021-a-guide-for-first-time-home-buyers">Stamp Duty</a> on marketable securities,

Debits Tax

Stamp duty on non-real non-residential conveyances

Stamp duty on leases

Stamp duty on mortgages, bonds, debentures, and other loan securities,

Stamp duty on credit arrangements, installment purchase arrangements, and rental arrangements,

Stamp duty on cheques, bills of exchange and promissory notes

<ul>
<li>2000 - A national scheme is established for the payment of a First Home Owner Grant to encourage and assist first homeownership and to offset the effect of the GST on homeownership.</li>
	<li>2001 - Financial institution's duty and stamp duty on quoted marketable securities and non-residential leases are abolished.</li>
	<li>2004 - Stamp duty on mortgages is abolished.  The Victorian Government passes legislation to introduce an additional payment for first-home owners known as the first home owner bonus.</li>
	<li>For contracts entered into on or after 6 May 2008 - The rate of duty charged is on a sliding scale down from a top rate of 5.5% for property valued at more than $960,000 to a base rate of 1.4% for properties valued at not more than $25,000.</li>
	<li>2009 - The Commonwealth Government announces it will provide first homeowners with an additional payment known as the First Home Owner Boost. The Victorian Government passes legislation to administer the new initiative on behalf of the Commonwealth.</li>
	<li>2010 - The Victorian Government imposes a Growth Areas Infrastructure Contribution (GAIC), which is a one-off financial contribution on certain land in the growth areas of metropolitan Melbourne. The GAIC is designed to aid State infrastructure in the growth areas.</li>
	<li>The First Home Owner Boost ceased to apply for contracts entered into on or after 1 January 2010.</li>
	<li>2012 - The Victorian government reformed the land rich duty provisions by adopting a landholder duty model from 1 July 2012.  </li>
	<li>2015 - The Victorian Government introduces a Foreign <a href="/guides/how-to-secure-a-mortgage-free-lifestyle-sooner">Purchaser Additional Duty</a> for foreign purchasers who buy a residential property in Victoria. The additional duty applies to contracts, transactions, agreements and arrangements entered into on or after 1 July 2015.</li>
	<li> From the 1st of July 2016, </li>
	<li>"Foreign buyers will have to provide citizenship and visa details, as well as Foreign Investment Review Board clearance, through the stamp duty process." "The ATO will match data to ensure foreign buyers have paid a $5000 fee for any property sold for less than $1 million, and $10,000 for properties over $1 million."</li>
	<li>Victoria will raise its existing 3 per cent stamp duty surcharge and 0.5 per cent land tax surcharge to 7 per cent and 1.5 per cent respectively on July 1</li>
	<li>2018 The Victorian Government introduces a Vacant Residential Land Tax (with effect from 1 January 2018) to apply to homes in inner and middle Melbourne that are vacant for more than six months in the preceding calendar year.</li>
</ul>
The Government have first-hand crippled high density to medium dwellings around our major suburbs.  The very people, who contribute approx. 10% of total GDP to the economy, are the ones that are penalised the harshest, without any reprieve.

The softest growth in household loan liabilities in over 25 years

The value of land and dwellings held by households was 2.9 times the value of household borrowing in 2018-19, decreasing from 3.1 in 2017-18. The value of land and dwellings owned by households fell 3.8% (-$265.1 billion) to $6,687 billion, the first decrease since 2011-12, reflecting the declining residential property prices throughout the year. This was driven by falls in the value of land (-$326.0 billion), while the growth rate of the value of dwellings (3.1%) was the softest since 2011-12. The tighter lending environment and the weak housing market in 2018-19 also impacted the demand for loans by households. Household loan liabilities grew 3.8% ($85.7 billion), the softest growth rate since 1991-92.

The Federal government has done a great job to provide financial stimulus support for businesses and the unemployed.  The major financial institutions have been wonderful in providing mortgage relief for property owners.  

This would be the opportune time to provide stronger incentives targeting ‘Property Investors’ to prevent the brute <a href="/guides/how-to-navigate-buying-property-during-the-covid-19-crisis">force of Covid-19</a>: sweeping through the economy that upheld this nation, the property industry.

Here are my personal suggestions.

<ul>
<li>- Only $5,000; Stamp Duty payable for any new dwelling purchased off the plan for Australian Residents as owner occupiers and investors.</li>
	<li>- 50% off all land tax, as the ratio to rates payable is disproportionate</li>
	<li>- Maximum of 20% income tax, from Rental Income on all properties</li>
	<li>- Foreign Buyers, to pay 5.5% of the dutiable land value, on all new dwellings </li>
	<li>-  FIRB approval on Property to be 40 days.</li>
	<li>-  On established dwelling Foreign Buyers pay 5.5% of the sale contract price.</li>
	<li>- Deposits paid to purchase investment properties are 100% tax deductable.</li>
	<li>-  Capital Gains Tax, to be exempted for all properties purchased prior to 1999.</li>
</ul>
The economy requires urgent stimulation; we cannot lower interest rates any further.

We need to act swiftly, responsibly, and proactively today, to avoid a catastrophic disaster.  Let’s make doing business in this great country easier.

 
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Why does the government bite the hand that feeds them - Investors need Tax Relief

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Australian Architects are heralded as proudly ambitious in preserving Australia's heritage, honouring national history and providing our cities with activated, engaging and community buildings and spaces that are socially and environmentally beneficial. With the rise of 'starchitects' and landmark designs, Australian architects are more approachable than ever, entering global design competitions, catching the eyes of global developers and governments to influence roles in cities abroad.

This is a short celebrated list of notable Australian Architects and their realised or planned projects abroad

<h2>FUNAN, SINGAPORE - <a href="/architects/woods-bagot">WOODS BAGOT</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/woodsbagot.com_.jpg" rel="gallery-all" title=" Image of Woods Bagot’s Funan in Singapore."><img alt="" class="image-article-full-width-580px" height="454" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/woodsbagot.com_.jpg?itok=nvoyaFfM" title=" Image of Woods Bagot’s Funan in Singapore." width="580"></a>

<figcaption>Image of Woods Bagot’s Funan in Singapore.</figcaption></figure>Representing a new era of mixed use and retail, Woods Bagot’s Funan in Singapore is an exemplary piece of architecture that is true to form in that it blends worlds and acts as a civic hub. 
The design acknowledges the rise of online shopping and maximises its engagement for tech savvy shoppers offering more of a destination than a retail precinct.  
Spaces connect vertically and laterally to provide an integrated environment that blurs traditional zones to offer an ecosystem of lifestyle activities under one roof.

Funan is a connected development which responds to a socially and environmentally conscious world with communal spaces, urban rooftop farms and gardens and vertical wall plants. 
The flexible ventilation of the ground floor allows 24 hour accessibility to pedestrians and cyclists, further improving upon the vibrant streetscape and its engagement to people. The building’s design caters to a new generation of consumers who yearn for interactive, connected and collaborative environments that reflect their authentic passions and tastes.

<h2> </h2>

<h2>MERDEKA PNB118, KUALA LUMPUR - <a href="/architects/fk-australia">FENDER KATSALIDIS</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/fender_katsalidis.jpg" rel="gallery-all" title=" Rendering of Fender Katsalidis’ Merdeka PNB118, Kuala Lumpur, Malaysia."><img alt="" class="image-article-full-width-580px" height="1106" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/fender_katsalidis.jpg?itok=fag5H25M" title=" Rendering of Fender Katsalidis’ Merdeka PNB118, Kuala Lumpur, Malaysia." width="580"></a>

<figcaption>Rendering of Fender Katsalidis’ Merdeka PNB118, Kuala Lumpur, Malaysia.</figcaption></figure>Australian architecture firm Fender Katsalidis has designed the upcoming Merdeka PNB118 skyscraper in Kuala Lumpur, standing at 644 metres tall with 118 floors of office, hotel, topped by an observation deck and restaurant. 
The crystalline tower will be the centrepiece of Kuala Lumpur’s Merdeka site, where Malaysian independence was declared in 1957. 
The tower’s design is an expression of its structural pathways, resulting in geometric patterns in the facade which are reminiscent of traditional Malaysian arts and crafts.

Cementing itself as one of the World’s top 10 tallest buildings when completed, the design of the tower is influenced through Fender’s <a href="/news/urban-com-au-profiles-10-of-melbourne-s-top-luxury-apartments">Eureka Tower</a> and how its design form represents a piece of Victorian history. The Malaysian capital wanted a landmark tower that represents in form its cultural history and significance in this same way. The project will preserve two heritage buildings on the site including the Merdeka Stadium and Negara National Stadium.

The podium interior has a soaring, dramatic atrium fit with stone surfaces which will include the lower lobby access at one end and office and retail lobby access at another. 
The retail component will offer over 300 stores of upmarket to high end clothing. 
The project in collaboration with local architect, RSP Architects and landscape architects Sasaki Associates has an expected completion in 2020.

 

CAPITAMALL 1818, WUHAN - <a href="/architects/the-buchan-group">BUCHAN GROUP</a>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/buchan_group.jpg" rel="gallery-all" title=" CapitaMall 1818, Wuhan, China. Image by Buchan Group."><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/buchan_group.jpg?itok=K5ocii-T" title=" CapitaMall 1818, Wuhan, China. Image by Buchan Group." width="580"></a>

<figcaption>CapitaMall 1818, Wuhan, China. Image by Buchan Group.</figcaption></figure>The Buchan Group delivers a revitalised shopping interior, exterior facade and graphics for the CapitaMall in Wuhan’s downtown. Located along the prosperous Zhongshan, the high end mall features 8 levels of retail, entertainment and dining and is one of seven CapitaLand developments in the city.

It was important that through this revitalisation of the downtown mall, that all 10 million of Wuhan’s residents feel represented with a design reflecting the vast cultural catchment with a rich past, whilst still responding to the innovative retail future and its trends.

The podium creates a vibrant streetscape amongst the integrated office and residential mixed use precinct and ensures that the buildings perform a civic function, providing a meeting place and community engagement for locals. 
The responsibility to respect Wuhan’s deep cultural history was felt by the Buchan Group as well as the need to embrace a modern urban community with aspirations to adapt to recent retail trends.

 

NATIONAL MARITIME MUSEUM OF CHINA, TIANJIN - <a href="/architects/cox-architecture">COX ARCHITECTURE</a>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/coxarchitecture.com_.jpg" rel="gallery-all" title=" National Maritime Museum of China in Tianjin. Rendering by coxarchitecture.com"><img alt="" class="image-article-full-width-580px" height="363" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/coxarchitecture.com_.jpg?itok=suUJPtDm" title=" National Maritime Museum of China in Tianjin. Rendering by coxarchitecture.com" width="580"></a>

<figcaption>National Maritime Museum of China in Tianjin. Rendering by coxarchitecture.com</figcaption></figure>The Binhai New Area is an important economic zone as Tianjin expands as an important international port, with over 2000 high tech companies developed in the area and urban residential spaces built upon reclaimed land. 
The National Maritime Museum of China by Cox Architecture whose design won the international competition for China’s first maritime museum, sits in the Binhai New Area of Tianjin. The Museum covers 150,000 square metres of space and includes three levels, a large exhibition hall and an observation tower which also acts as the Museum’s energy plant.

One of the main details of importance for the new museum was its connection and relation to the water as much of Chinese cities developed out of the canals or by the water’s edge. 
Not much is known of the country’s Maritime past, so for Cox Architecture, designing a space of such importance had to reflect a strong identity.

As the Chinese Government collected elements to fill the Museum, the designs of the structure had to evolve and adapt to their findings. Cox Architecture needed to provide a space to raise public awareness and develop into an educational base for scientific research and environmental protection.

Opened in 2019, the National Maritime Museum of China will be free for visitors and include six divided sections with an enriched array of themes arranging from Culture and History, Marine Ecology and Environment, Science Education and interactive programs as well as shopping, restaurants, cafes, cinema and gardens surrounding and connecting to the waterfront.

Awards: 
World Future Project of the Year, World Architecture Festival Singapore 2013 
Future Projects Competition entries Category Winner, World Architecture Festival Singapore 2013

<h2>KAOHSIUNG EXHIBITION CENTRE, KAOHSIUNG TAIWAN - <a href="/architects/cox-architecture">COX ARCHITECTURE</a></h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/coxarchitecture.comm_.jpg" rel="gallery-all" title="Kaohsiung Exhibition Centre, Kaohsiung Taiwan. Image by coxarchitecture.com"><img alt="" class="image-article-full-width-580px" height="305" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/coxarchitecture.comm_.jpg?itok=ldjNWKQx" title="Kaohsiung Exhibition Centre, Kaohsiung Taiwan. Image by coxarchitecture.com" width="580"></a>

<figcaption>Kaohsiung Exhibition Centre, Kaohsiung Taiwan. Image by coxarchitecture.com</figcaption></figure>Another project from Cox Architecture won through an international design competition is Kaohsiung’s first public harbour development, the Kaohsiung Exhibition Centre. 
Linking the city to the waterfront via pedestrian access was key to the design of the centre. 
Designed as a hybrid facility, the building comprises of exhibition and convention spaces which are flexible to host a large variety of events and simultaneous meetings. 
The enclosed roof utilises an alternating shell structural system to which substantially reduces steel tonnage and successfully resists the strong harbour winds and seismic forces. 
Skylights allow the building to respond to its natural environment with the ability to fill the spaces with light and ventilation which improves the overall sustainability.  
It was important to Cox Architecture to design a structure that responds to its surroundings and is an expression of the Taiwanese people and was a conscious and thoughtful process.  
Awards: 
Excellence Award, Chinese Institute of Engineers 2014.

 
 

 

 

 

 
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Australian Architects making Global waves

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Why Doing a Dual Occupancy is a Good Move and How to Find the Right Builder

Have you ever considered investing in the property market? In years gone by, this would mean purchasing an existing home and renting it out. But more recently, more and more regular Australians have begun leveraging their property to invest differently.

They are doing what is called a dual occupancy development. This means constructing two or more dwellings on a lot of land. These dwellings are then subdivided, so they end up on their own separate titles. There are some benefits to doing this sort of real estate development project.

In this article, we’re going to explore why undertaking a dual occupancy is a great idea. Then, we’re going to unpack how to <a href="https://www.littlefishproperties.com.au/dual-occupancy-builders-in-melbourne/">find the right dual occupancy builders</a> to partner with for this sort of project.

Why a Dual Occupancy Project?

There are several reasons why this sort of development is a wise choice for those looking to invest in property.

To begin with, if you already own a lot of land suitable to subdivision, you’re steps ahead of the pack already. For example, you may own a larger family home on a large piece of land. It might be a bit run-down and in need of some love. Or, you might own an investment property already - but the returns from rental yield are smaller, and you’re relying on the property increasing in value. This is called capital gains. 

Capital gains is a long-term game, and with fluctuations in the property market, it doesn’t always pay off. A dual occupancy, on the other hand, can generate some serious wealth.

Let’s say you do a standard dual occupancy where you build a pair of duplex properties. This means that they share a wall and are usually side-by-side or one behind the other. 

Once the properties are complete, you have a range of options. You can live in one dwelling and rent the other out. Some folks rent them both out. Or you could sell them both. Whichever investment option you choose you are looking at a tidy return.

Some people even partner up with friends or family to muscle into a suburb they could otherwise not afford. They buy a dilapidated house in their target suburb, then knock it down and build a dual occupancy on the lot so they can both live there.

Now that we’ve explained the reasons for doing a dual occupancy and why it’s a great idea, let’s talk about finding the right builder for your project.

How to <a href="/guides/dual-occupancy-homes-arguably-the-best-value-for-money-on-the-market">Find a Dual Occupancy</a> Builder

You mostly have two options here. You can choose what is known as a volume builder, or an independent. A volume builder is your big players. These vary from state to state, but they have billboards, a branded fleet, ads on TV, and rely on churning through builds for their revenue.

The other option is an independent builder. These are smaller companies who usually do just a few jobs at a time. Their owner is generally working on the job with the crew, and often you can’t tell the general from the soldiers.

Let’s look at the pros and cons of each type of dual occupancy builders. 

Volume Builders

Volume builders will be able to do the job quickly and efficiently. They’ll also have a basic cost structure so you can match a company to your budget. Because they rely on the sheer volume of builds, they can usually complete a project on time and to budget.

They also have a set menu of designs to choose from. If you’re time-pressed and want to finish your dual occupancy project, this could be a blessing. If you want more customisation and flexibility, this is a drawback. A major con to volume builders is that their designs only work on certain block types and dimensions. They can’t fit a square peg into a round hole so if your block has odd dimensions or doesn’t suit their designs you might be out of luck.

Also, in some cases, volume <a href="/builders">builders</a> rely on subcontractors to finish a job. This can mean that the final build quality can sometimes be subpar. Sometimes this is the luck of the draw though, as other times it will be fine. 

Independent Builders

These are the little guys—the small to midsize businesses. Like the volume players, they have their ups and downs.

The biggest pro here is their flexibility and ability to customise a design and build. They have fewer procedures and strict rules to follow for their builds. You are only limited by your architect and designer and your plans. They can also be more allowing of any changes or updates during the build. Keep in mind that they will still bill you for any variations. They don’t work for free, like you. And why should anyone, for that matter?

An independent will also cost more. This is due to the flexibility, the ability to customise and the fact that they rely on each job for their income, unlike the volume builders where it is a numbers game. A custom build will also take longer. So if you have the endgame in sight - the sale of the property, you need to factor this into your thinking.

There is also the risk with an independent. Remember the law that if things can go wrong, they will. Sometimes an independent will go bust <a href="/news">halfway through a build</a>. You have less risk of this with a more prominent company.  
Even with these risks and drawbacks, a smaller builder will have more pride and quality in their build. You will end up with a unique dual occupancy that screams quality. 

Summing it All Up

There you have it. A dual occupancy can be a great choice of investment, whether you sell them off or rent them out. You can even live in them and use them as a lever to get <a href="/buildings/nbh-at-lachlan-s-line-25-27-epping-road-macquarie-park">into a target suburb</a>.

We’ve also highlighted the pluses and minuses of choosing a volume builder versus an independent. This should have informed you how to pick a builder that is right for your needs. Good luck on your upcoming project!
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Why a Dual Occupancy is a Great Idea and How to Find the Right Builder

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Melbournians are not new to urban sprawl and its long lasting effects on the environment and people. 
For decades, we have felt the strain of the city’s inexorable growth with an ever-growing population and a lack of readily planned infrastructure to back it. 
These issues are quite complex to resolve and there is no one solution to the matter. 
With urban planners and architects directing their focus more so on centralised communities, we are seeing a major shift in how we progress with more mixed use developments and 20 minute neighbourhoods emerging within existing Melbourne suburbs.  The consequences of Urban Sprawl go much deeper than just the lengthy commutes and sometimes careless environmental damages but also really affects mental health. 
Sprawl is a contributing factor to the feelings of isolation through a lack of community engagement and living far from opportunities, education and hospitality services greatly lowering one’s quality of life.

Mixed use precincts often offer medium to higher density buildings comprising of residential, commercial, public amenities and opportunities. The benefits of a connected community are: 
 

Safety - 
When we live in closer proximity to each other and share communal spaces we become more tolerant, patient, respectful and generous people overall. 
This closeness creates a sense of pride and encourages community engagement with residents protecting their space and looking out for each other. 
The spaces within a mixed use precinct are kept active at ground level and with everything within a 5 minute walking distance and many providing CCTV for laneways and streets. 
 

Walkability - 

5 and 20 minute neighbourhoods can be incredibly walkable with pedestrianised retail streets, laneways, public squares and lush parks motivating locals to engage in healthier and active lifestyles. 
With no need for car dependency, the impacts on mental health through interacting with other people and nature are hugely positive. The convenience of being close to transport, work, parks and essential living needs provide a healthy environment for all demographics of people. 
 

Connectivity - 

Mixed use developments thrive in already existing activity centres where local businesses, accessibility to public transport and major avenues provide quick and painless connections to the greater surrounding areas, unite communities and prosper under-utilised space.  
 

Stronger local economies - 
Living close to local business means supporting local business. With a hairdresser across from your doorstep and the delicious coffee shop, bakery and fresh produce stores on your walk to work, residents provide a stronger economy for business owners. Mixed use developments provide countless construction and ongoing jobs and with reduced travel times and on site opportunities, affordable housing and rent remain consistent.

 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/received_663226370765103.jpeg" rel="gallery-all" title="Melbourne CBD's expanding skyline. Image by Nicholas Failla."><img alt="" class="image-article-full-width-580px" height="335" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/received_663226370765103.jpeg?itok=JB_KD0gk" title="Melbourne CBD's expanding skyline. Image by Nicholas Failla." width="580"></a>

<figcaption>Melbourne CBD's expanding skyline. Image by Nicholas Failla.</figcaption></figure>Mixed use precincts are not only beneficial to the individual, but to the spaces we govern, attributing to the liveliness of an under-utilised and perhaps neglected neighbourhood and connecting business between what once might have been segregated networks and living spaces.

 

<h2> </h2>

<h2><a href="/buildings/m-city-2107-dandenong-road-clayton">M-City</a>, Clayton</h2>

One example is M-City, designed and developed by <a href="/builders/schiavello-constructions">Schiavello</a> and the <a href="/architects/the-buchan-group">Buchan Group</a> in the South-Eastern suburb of Monash takes a vacant block and develops it into a vibrant urban hub providing 17,330sqm of commercial space and 643 apartments accommodating over 3,000 people. 
A heavy focus on human interaction through a carefully thoughtful design with a landmark shopping centre anchored by Kmart, Woolworths and a six screen Village Cinemas, a 250 room Mantra Hotel and a substantial amount of green space for residents, workers and visitors encourages people to engage with each other and feel involved in their environment. 
 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/m-city_park_pool.png" rel="gallery-all" title="Rendering of the resident's park and swimming pool. Image by m-city.com.au"><img alt="" class="image-article-full-width-580px" height="360" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/m-city_park_pool.png?itok=eDph4QU7" title="Rendering of the resident's park and swimming pool. Image by m-city.com.au" width="580"></a>

<figcaption>Rendering of the resident's park and swimming pool. Image by m-city.com.au</figcaption></figure>M-City is a 24 hour lifestyle development with a closeness to major innovative, scientific and knowledge hubs such as <a href="/news/monash-university-refreshes-its-20-year-campus-master-plans">Monash University</a> and Clayton Station servicing residents nearby. 
With 60 specialty stores beneath the apartment complex, connectivity and walkability are deeply encouraged and give peace of mind to residents who have had a long day at work or university.

 

<h2><a href="/buildings/east-brunswick-village-3-bluestone-way-brunswick-east">EBV, East Brunswick</a></h2>

East Brunswick Village, master planned by <a href="/developers/banco-group">Banco Group</a> and designed by <a href="/architects/jam-architects">JAM Architects</a>, is possibly one of the country’s greatest mixed use developments at the moment with homes across 5-6 level apartment buildings connected by tree-lined laneways filled with public art, local bakeries, pharmacy, wellness centre, yoga studio, bike repair store, cafes and a supermarket.

For residents, over 2500sqm of communal space including a children’s playground, an apiary providing free honey for all, rooftop gardens, a workshop and <a href="/news/what-will-the-future-of-cycle-culture-in-australia-look-like">960 bicycle spaces</a> to motivate and embrace a non car dependent environment. Residents also have access to a car share facility and electric vehicle charging stations to decrease their carbon footprint.

 

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/brunswick-east-large-rooftop-garden.jpg" rel="gallery-all" title="Rendering of the communal rooftop garden."><img alt="" class="image-article-full-width-580px" height="377" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/brunswick-east-large-rooftop-garden.jpg?itok=2yyAD66r" title="Rendering of the communal rooftop garden." width="580"></a>

<figcaption>Rendering of the communal rooftop garden.</figcaption></figure>With easy access to public transport, a 7.5 star NatHERS rating, solar energy, water efficiency techniques and the use of drought tolerant native plant landscape throughout the project, <a href="/buildings/east-brunswick-village-3-bluestone-way-brunswick-east">East Brunswick Village</a> increases community engagement, pride and the quality of life for residents and visitors with the sense of belonging to somewhere that is open to change. “I think of EBV as a microcosm of East Brunswick. It’s exciting, it’s creative, it’s diverse, and East Brunswick is like that too – it’s one of Melbourne’s most inspiring and livable suburbs. It’s got great public transport, great amenities and restaurants. And it’s so close to the city; as a place to live, East Brunswick has become incredibly popular over the past decade. We know people want to live here. With EBV, one of our big aims is to make living in this part of Melbourne achievable for people. Making living as affordable and enjoyable as possible, that’s what it’s all about.” - Mario Lo Giudice, Director at Banco Group. 
Quote from ebv.com.au

Many people fear density and infill, as a spread out suburban lifestyle is pretty much all we are accustomed to, yet we cannot continue to function this way.  
Our need for high quality mixed use commercial and residential precincts and updated rezoning policies will profoundly impact our way of life and progress our city forward into an equal urban future.

 

 

 

 
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How living in a mixed use precinct can benefit you

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Construction of the long awaited Minnippi 18-hole championship public Golf Course and club in Cannon Hill is underway after receiving approval from Brisbane City Council earlier this year. 
The golf course stretches between the Fursden Road playing fields at Carina and the hill beside Cannon Hill Shopping Centre. 
The golf course will be the first of its kind for the area and will have everything for golf beginners to championship professionals, with a standard championship length 18-hole game, two nine-hole courses and a shorter six-hole course. 
The 125 hectare site which the public golf course is being built on is located on the unused Brisbane City Council land on the western side of Bulimba Creek, east of Creek Road and north of Fursden Road at Cannon Hill. Bulimba Creek separates the development site from the existing Minnippi Parklands recreation area. 
Along with construction delivered by one of Australia’s biggest construction companies, BMD, Council have planted 80,000 native trees on the site. The golf course is effectively an expansion of the Minnippi Parklands at Tingalpa and will remain in public hands and be operated by the council.

This year’s pandemic has seen a tough year for construction, however the golf course moves ahead into its next stage, which will provide a great boost for local jobs and supplier opportunities. The course surrounds and brings a picturesque backdrop to Azure Development Group’s recently completed residential enclave, Cornelia Edition. 
Cornelia Edition is an exclusive gated community offering 31 luxury golf course terraces with resort-style amenities for residents. Primely located in the East Brisbane suburb of Cannon Hill, the terraces interact directly with the new golf course and benefit from the areas diverse and amenities with a strong community feel.

Cornelia Edition brings resort living inspired by the Palms Springs lifestyle with resident amenities including a large resort-style pool, outdoor lounge, fireplace, and open leisure area with a selection of terraces enjoying uninterrupted views of the parklands. 
Residents of Cornelia Edition will benefit from the lush green views of the high end golf course by having a direct interface to one of the holes and the natural amenity of the community. Parks, connected bikeways and the convenience of good public transport provides residents with a peaceful and easy lifestyle.

Construction on the exclusive housing enclave has completed and work on the golf estate is expected to be finished in 2022.
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Construction of Brisbane's first new and highly anticipated golf course in 70 years has begun

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

Nicholas Failla

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