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Conveyancing is the legal transfer of a property’s title from the seller to the buyer. It is important that buyers research who they wish to use for conveyancing when they have a contract of sale on a property.
The Real Estate Institute of Queensland recommends the use of a qualified solicitor to undertake the conveyancing process.
Using a solicitor is important as they understand the laws and procedures involved with facilitating a property transfer including, payment of stamp duty, conducting searches and attending to mortgage related matters.  Using a solicitor who understands the process provides peace of mind when making what may be the largest single financial transaction of your life.
Costs associated with conveyancing include title searches, transfer duty, registration fees and solicitor’s professional fees.
Searches undertaken as part of the conveyancing process will usually include zoning, rates and outgoings and body corporates record searches where the property is a unit.
Local government searches have become important in the conveyancing process to determine how an area will develop in the years to come. They ensure major changes like new freeways and major road upgrades are not planned for the backyard of the property you are purchasing.
Searches for zoning and titles can also determine whether the property has any restrictions such as adverse planning, demolition orders, outstanding taxes or encumbrances on the title (for example, easements or caveats).
Most of these searches are standard in the conveyancing process but are often overlooked when buyers elect to do the conveyancing themselves.
It is important to understand the different roles that real estate agents and solicitors play in a residential real estate transaction.
A real estate agent, as the agent of the seller not the buyer, is responsible for obtaining the best possible price and contractual terms for the seller. The agent will receive a commission from the seller when the property is sold.
A solicitor will advise on the fairness of the proposed contract and whether or not to sign the contract as it stands. A solicitor may also suggest the inclusion of special conditions in the contract.
The REIQ always recommends that buyers contact the Queensland Law Society for details of qualified solicitors to conduct the conveyancing for their property purchase.
Pamela Bennett is chair of the <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;ved=0CD8QFjAA&amp;url=http%3A%2F%2Fwww.reiq.com%2F&amp;ei=XiesUbi2D-6jigfV_YGYCw&amp;usg=AFQjCNHYDAxb-XTUgP3_VCgg96FpGRR9gw&amp;bvm=bv.47244034,d.aGc" target="_blank">Real Estate Institute of Queensland</a>.
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The ins and outs of conveyancing: Pamela Bennett

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The Real Estate Institute of Queensland recently sent a detailed submission into the split and review of the Property Agents and Motor Dealers Act 2000 (PAMD Act) to the Queensland government.
In our submission, we expressed strong support for the <a target="_blank" title="REIQ TV – PAMD Act split" href="https://reiqblog.com/2013/02/reiq-tv-pamd-act-split/">split of the PAMD Act</a> into industry-specific legislation.
Having consulted extensively with membership and the broader industry, the REIQ outlined a series of recommendations for legislative change.
Predominantly, the recommendations aimed towards increasing the professionalism of the industry, reducing regulatory and administrative burden, and simplifying processes associated with real estate transactions.
Some of the REIQ’s key recommendations were that the proposed amendment to abolish the PAMD 30c warning statement be implemented to eliminate the administrative burden and risks associated with this document.
Multiple appointment PAMD appointment forms (regardless of the nature of the services to be performed) be abolished and replaced with a single simplified appointment form containing only ‘key legislative criteria’.
This would simplify the appointment process and deliver time-saving benefits. It would also ensure agents are not deprived of their right to remuneration and reimbursement on the basis of minor and technical omissions which result in no real consumer detriment.
Also, appointment processes and procedures should be simplified. The current provisions about appointments are unreasonably onerous and put agents at risk of not being remunerated on the basis of technical and minor omissions.
The REIQ also recommended that a seller and landlord disclosure regime be implemented to establish required disclosures related to the sale and rental of property in Queensland.
At a minimum, we recommended the existing information and disclosure requirements relating to property sale contracts be incorporated into one single document.
Existing legislative provisions which apply to price representations and guides in relation to auction properties and properties to be sold without a price be clarified in the new legislation. The REIQ expressed the view that no price guides or price representations should be permissible when marketing and/or promoting residential property that is to be sold by auction or with no price.
The REIQ also recommended that the maximum 60-day statutory limit relating to sole and exclusive agency appointments be extended to 90 days.  The current limit is too short and reappointments are regularly required. This causes inconvenience for both the agent and consumer.  An extension of the limit to 90 days better reflects current market conditions.
The REIQ was extensively consulted by the state government during this legislative review process and we look forward to again working closely with the government as this new much-improved legislation starts to take shape.
I would also like to take this opportunity to acknowledge the Attorney-General and Minister for Justice, Jarrod Bleijie, for the open and collaborative nature in which he and his department have so far handled the review of this key piece of real estate legislation.
Pamela Bennett is chair of the <a target="_blank" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;cad=rja&amp;ved=0CC4QFjAA&amp;url=http%3A%2F%2Fwww.reiq.com%2F&amp;ei=-OqJUdqqGaKsiAem3YDYDA&amp;usg=AFQjCNHYDAxb-XTUgP3_VCgg96FpGRR9gw&amp;bvm=bv.46226182,d.aGc">Real Estate Institute of Queensland</a>.
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REIQ supports greater industry professionalism and reduced administrative burden: Pamela Bennett

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Continued professional development (CPD) should be mandatory for all real estate professionals.
Under COAG’s proposed national licensing model, CPD would no longer be guaranteed for real estate agents. Currently half the states and territories have mandatory CPD.
Agents need to know the various conduct laws for different jurisdictions, specific laws that are relevant to selling or managing a property and appropriate national legislation.
Continuing education ensures up-skilling and development of individuals. Abolishing mandatory CPD would leave the consumer at risk.
The proof is in the pudding. Since Western Australia introduced mandatory CPD in 2007, written complaints across all categories of real estate activity have dropped by around two-thirds.
The National Occupational Licensing Authority (NOLA) is proposing to abolish mandatory CPD but hase the power to require it be irregularly done at times of major changes to real estate laws.
REIA rejected the proposal put forward by NOLA at the Occupational Licensing Advisory Committee (OLAC) meeting.
The proposal shows a lack of knowledge of the profession and creates a bottleneck of centralised decision making. There are many more issues that an agent needs to be aware of.
Agents need to be across a great number of constantly changing laws regarding issues such as smoke detectors, swimming pools, GST implications, environmental protection guidelines, equal opportunity legislation, OH&amp;S, privacy and many more.
Pamela Bennett is president of the <a href="https://www.reia.com.au/" target="_blank">Real Estate Institute of Australia.</a>
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Continued professional development should be mandatory for all real estate agents: REIA

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The Real Estate Institute of Australia (REIA) says consumers will suffer if Council of Australian Governments’ (COAG) proposed changes to qualifications for Auctioneers under National Licensing, is allowed to go ahead.
Auctioneers don’t just call the numbers at the front of an auction. They’re not ‘trained actors’. They play a significant role in the sale of a property.
The COAG regulation impact statement (RIS) proposes that auctioneers only require three units of qualification. REIA is calling for a minimum of 12 units to be completed from the nationally accredited property services training package.
In many cases, auctioneers review the contract and disclosure statement prior to auction to ensure that any inclusions and exclusions are announced. They receive instructions from the vendor, and if the property is not sold under the hammer, they may be involved in negotiations to facilitate a post auction sale.
Under the RIS proposal, auctioneers miss out on vital learning including minimisation of consumer and agency risk and interpreting legislation.
In some states, auctioneers have the authority to sign the contract on behalf of the purchaser. These are important tasks, carrying high levels of responsibility and professionalism, when we are talking about someone’s home in which their life savings are tied up.
Why would the government dumb down the credentials of the person handling the sale of your biggest asset? It’s madness, the consumer would be at risk for minimal savings, with the RIS stating that the expected average cost saving of COAG’s proposal would be around $74, 000 per state/territory per annum.
The Real Estate Institute of Australia urges the government to support the highest levels of qualifications for all real estate professionals.
Pamela Bennett is president of the <a href="https://www.reia.com.au/" target="_blank">Real Estate Institute of Australia.</a>
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Consumers will suffer if auctioneer licensing requirements are changed: REIA

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The Real Estate Institute of Australia (REIA) rejects outright claims made by Milton Cockburn of the Shopping Centre Council of Australia that it is trying to “torpedo” COAG’s national licensing plan for real estate professionals.
With all due respect, <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/dont-let-the-reias-self-interested-assertions-torpedo-important-agent-licensing-changes-milton-cockburn/2012091856640">Cockburn is misinformed, pure and simple.</a>  We do support national licensing, but we are determined to look after Australian property consumers by fighting for the highest possible standards across the board.
The REIA representatives involved in the Property Occupations Interim Advisory Committee (POIAC), prior to the release of the regulation impact statement (RIS) on national licensing, argued for diploma-level qualifications.  The rest of POIAC settled for lower qualifications.  The REIA argued for compulsory professional development to keep the profession up to date but again, the rest of POIAC did not.  The steering committee, compiled of state and Commonwealth regulators, not POIAC, made the final decision.
Diploma-level qualifications, currently in four states and territories, are desired by our members nationwide.  Real estate agents are proud of their profession and the important service they provide to the Australian public, and they want to grow their reputations, not go backwards.  Real estate institutes do not think it is “silly” to be highly qualified.
With regards to commercial property, agents are currently licensed, but the proposed regulations would strip that away.   This leaves the consumer completely vulnerable.  Quite literally, anyone could sell commercial property.  Yes, even a 16-year-old.
POIAC did support licensing of commercial property agents.  A hurdle of $100 million was suggested at the time, but again, the steering committee made the final decision to deregulate commercial property transactions.
Contrary to what some may think, most commercial property sales are under $500,000. In Victoria 51% are under $500,000, so we are not talking the big end of town.  We are talking about “mum and dad” investors who invest in commercial property, either directly or through superannuation funds, and they should have the security and peace-of-mind of having a licensed agent manage their transaction.
For example, the owner of a family sandwich bar in the food hall of a shopping centre wants to sell. In the absence of a licensing regime for commercial sales that provides the consumer with information as to who has the appropriate qualifications and insurance coverage to handle such a complex transaction, the vendor would be vulnerable to anyone who wants to deal in commercial transactions without any qualifications.  On top of this, both parties would take a huge financial risk with their life savings.
I’m quite stunned at how the consumer point of view has been left out of the calculations in the RIS and that the process has been driven by regulators who are not experts on the real estate profession. Their proposals, if implemented, will be detrimental to consumers. The RIS on national licensing states that deregulating commercial property will save a comparatively small $2.37 million.  What this figure does not take into account are consumer costs.
The REIA is also concerned with the proposed deregulation of rural property.  Not all rural property is like Cubbie Station.  In Victoria in 2011, 76% of farms were sold for under $500,000.
The Real Estate Institute of Australia will continue in its endeavours to achieve outcomes that will provide for a national licensing system that supports high standards and not those of the lowest common denominator.
Pamela Bennett is president of the <a href="https://www.reia.com.au/" target="_blank">Real Estate Institute of Australia.</a>
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Skilled agents key to consumer confidence in real estate

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The housing figures released today by the Australian Bureau of Statistics (ABS) show there’s been no response to the interest rate cuts of May and June.
Housing finance figures for July 2012 show, in trend terms, that the number of finance commitments has remained flat after six consecutive months of decreases.
In trend terms, increases were recorded in Victoria, Tasmania and the Northern Territory, however all other states and territories recorded decreases. The largest decrease was in Queensland (down 1% in trend terms) while the largest increase was in Tasmania (up 1.9% in trend terms.
Increases were evident for the construction of new dwellings (up 1% per cent in trend terms) and the number of commitments for the purchase of new dwellings (up 1.8% in trend terms). The commitments for the purchase of established dwellings fell by 0.2% (in trend terms).
The number of first-home buyers as a percentage of total owner-occupied housing commitments increased to 19.2% in July 2012, compared with 18.5% in June 2012. The long-run average proportion is 20.2%.
The value of investment housing commitments was also flat, in trend terms, in July after four consecutive months of declines.
These housing finance data figures indicate the RBA should have reduced interest rates again in September, as the market has not responded to the two previous cuts. With inflation within the RBA’s target zone and a more subdued international outlook, the message for next month’s RBA meeting is abundantly clear.
Pamela Bennett is president of the <a href="https://www.reia.com.au/" target="_blank">Real Estate Institute of Australia.</a>
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RBA should have cut rates in September to boost housing market

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With the Treasury expected to collect about $3.8 billion from stamp duty this year, nationwide home buyers are in agreement on the call to streamline the greatly disputed tax. State-based stamp duties are widely recognised as a drain on our nation’s productivity and an inefficient and unstable source of revenue for each state.
Currently, home buyers are perplexed by the lack of uniformity in stamp duty rates across the country. On a $400,000 home, first-home buyers in Victoria, South Australia and Tasmania are forking out more than $12,000 in charges while those in New South Wales, Queensland, Western Australia and the Northern Territory pay nothing at all. First-home buyers in the $700,000-plus bracket pay as little as $8,130 in NT compared with a hefty $34,860 charge for a standard purchase in NT. On the extreme end of the scale Victorian’s are forking out $41,530 for a property in this price range.
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To further complicate matters, we are seeing state governments pull back their concessions for first-home buyers. In Queensland, the government has just recently cut its $10,000 first-home buyers’ boost, the Northern Territory ended its $10,000 grant on new properties on New Year’s Eve last year, and South Australia is completely revoking its discount for buyers of established homes mid-2012.
Evidently, state governments are using the tax as a lever to adjust revenue levels. In late October 2011 the government cut back stamp duty payment deadlines from 90 to 30 days after settlement in a bid to bring forward revenue and help meet budget surplus targets for the year.
Further to this, given the level of activity in the housing sector has declined, removing concessions for first-home buyers is also likely to be an attempt to claw back revenue. If this is the case, it highlights the state’s dependence on a volatile and uncertain revenue base.
Stamp duty creates a barrier for those wanting to buy or sell property in a number of ways. The inconsistency of the tax across the country discriminates against those who move where the jobs are. It also discourages those who need to downsize, predominantly the elderly, which in turn affects first-home buyers looking to enter the market.
In the short term it is clear that the tax cannot simply be removed. However, in the interim, a range of reforms to make the current regime fairer could be introduced, including: the removal of GST on stamp duty (tax on tax) in non-residential transactions; limiting higher stamp duty rates for investors; and, most importantly, the indexation of duty rates so the proportion of tax paid does not increase.
We at the Real Estate Institute of Australia are calling for the removal of state-based property taxes and have been actively lobbying to key government bodies for increased harmonisation of the tax across the nation. As a result of our presentation at the 2011 October tax forum, Queensland and New South Wales governments have agreed to examine the harmonisation of payroll tax and possibly other taxes (stamp duty) and present a state tax reform plan to the federal government by the end of 2012.
Pamela Bennett is president of the <a href="https://www.reia.com.au/" target="_blank">Real Estate Institute of Australia.</a>
 
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Stamp duty hurting our national productivity

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The December quarter Consumer Price Index figures show that the Reserve Bank of Australia’s consumer price measures of inflation are within their target zone.
The analytical series of trimmed mean and weighted median increased by 0.6% and 0.5% respectively for the December quarter 2011, compared with 0.4% for both measures in the previous quarter.
The annual change in trimmed mean and weighted median is 2.6% for both measures for the December quarter, compared with 2.4% and 2.7% respectively for the September 2011 quarter
The latest figures are well within the RBA’s target zone of 2% to 3% and should provide a clear message to the RBA to reduce official interest rates at its February meeting.
The housing group showed a slowing down in the quarterly rate – from 1.9% in the September quarter 2011 to 0.4% in December quarter 2011 – the annual rate decreased from 4.2% for the 12 months to September 2011 and to 4% for the 12 months to December 2011.
The main contributor to the December quarter increase for the housing group was rents, which increased 1%.
For the year to December 2011 the biggest increases in the housing group were for electricity (12.2%), water and sewerage (8.6%) and gas and other household fuels (6.7%), with inflation within the RBA’s target zone. Given the latest outlook for the Australian and global economies it is appropriate to have a third consecutive cut in interest rates.
Pamela Bennett is president of the <a target="_blank" href="https://www.reia.com.au/">Real Estate Institute of Australia.</a>
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Inflation data should encourage RBA to cut rates again in February

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A local Australian has spent a Lower North Shore record $15.1 million at <a href="https://www.apartments.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the new TOD above the recently opened Crows Nest Metro Station.

The buyer amalgamated a penthouse and sub-penthouse to create the triplex apartment that will have five bedrooms, five bathrooms, a private rooftop pool, expansive terrace, and panoramic views of Sydney Harbour and skyline. The building is being created by burgeoning developer Third.i, alongside joint venture partner Phoenix Property Investors.

The buyer was drawn to Elevate’s unrivalled connectivity, situated directly above the&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> Metro Station, and the vibrant lifestyle precinct that surrounds it. The Metro connects to the CBD in just seven minutes, and Chatswood in four.

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Designed by internationally acclaimed architects <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, Elevate draws inspiration from the ancient blue gum forests native to the area. The building is a Net Zero development, created in consultation with Indigenous communities and exceeding sustainability benchmarks. Interiors feature chevron-engineered timber flooring, natural stone benchtops, and premium Sub-Zero Wolf appliances, delivering timeless elegance and next-level comfort.

The exchange of the $15.1 million apartment, follows a recent $5 million sale, and over $30 million currently in expressions of interests. Interest in Elevate’s penthouse stock has surged, reflecting a strong appetite for ultra-luxury residences that combine design excellence with unmatched connectivity.

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“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group.&nbsp;

“These recent sales are a testament to the vision behind Elevate. It’s not just about luxury finishes or panoramic views, it’s about creating homes that are deeply connected to the city and the community. Buyers are responding to that. They want to live somewhere that offers more than just a postcode, they want culture, convenience, and long-term value. Elevate delivers all of that, and more.”

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As part of the Hume Place precinct, Elevate is transforming Crows Nest into Sydney’s most dynamic urban village. Elevate’s unique position directly above the metro, combined with its curated amenity offering, has made it a magnet for buyers seeking a future-proof investment and a vibrant urban lifestyle.

The next release at Elevate is expected later this year.

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“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group


Joel Robinson

Third.i & PPI set Lower North Shore apartment record with $15.1m sale at Elevate Hume Place penthouse amalgamation

Sydney developer Deicorp is set to officially open its <a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill-nsw-2154">Showground Village</a> precinct in Castle Hill.

NSW Premier Chris Minns will attend the opening on Sunday August 31, alongside&nbsp;Minister for Planning and Public Spaces Paul Scully, The Hills Shire Council Mayor Dr Michelle Byrne, Landcom CEO Alex Wendler, and Deicorp Founder Fouad Deiri.

Located just moments from Hills Showground Metro Station, the centre spans 9,500 sqm across four levels and features 26 specialty retailers as well as a 1,400 sqm public plaza, creating a new community meeting point for shopping, dining, fitness, and everyday convenience.&nbsp;

Showground Village forms part of the Hills Showground Station Precinct, an urban renewal initiative led by Landcom and Sydney Metro that will provide for around 2,300 new jobs over the next 20 years and around 9,000 new homes.&nbsp;

Deicorp was recently approved for another new development next door to Showground Village.

The new five residential buildings in the East Showgrounds Precinct, will see another 873 dwellings delivered, as well as&nbsp;3,500 sqm of open public space in the form of landscaped courtyards, a public park and communal outdoor recreational space including a playground, barbeque area, and outdoor seating.

“This approval will allow us to start construction on a range of beautifully designed, conveniently located apartments and create another vibrant, walkable and well-connected community,” said&nbsp;<a href="https://www.apartments.com.au/developers/deicorp" target="">Deicorp</a>&nbsp;Founder Fouad Deiri.

“These new homes will provide their residents with a seamless connection to jobs and services along Metro North West, and the new&nbsp;<a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill" target="">Hills Showground Village</a>&nbsp;retail precinct currently under construction."

Deicorp has several thousand apartments in planning and under construction across Sydney, from Zetland and Five Dock to Crows Nest and Macquarie Park.

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Deicorp, NSW Premier officially open Showground Village, new retail and hospitality hub in Castle Hill

ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

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<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

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There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

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The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

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The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

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Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

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BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

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Pamela Bennett

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