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<p>The AMP Bank is lifting its ban on refinancing investment property loans.<br>"The lending market remains very competitive and AMP Bank continues to respond by adapting its lending practices where necessary to provide the best conditions for our customers and for managing our growth," a bank spokesman told Fairfax Media.</p>
<p>AMP Bank only has one per cent of property loans but the group is one of the biggest players in self-managed super funds, which invest heavily in residential and commercial property.</p>
<p>AMP Bank is also reducing deposits.</p>
<p>The bank said it had imposed the tougher lending conditions to meet strict lending guidelines by the Australian Prudential Regulation Authority.</p>
<p>It is decreasing deposits for self-managed super fund loans from 50 per cent to 30 per cent of the loan.</p>
<p>Minimum deposits for all other loans "with a predominant purpose for an investment property purchase or refinance" are dropped from 50 per cent to 20 per cent.</p>
<p><br>All loan applicants will from today be asked to provide detailed answers to 14 questions about basic and discretionary spending on dozens of household items.</p>
<p>Information required about basic monthly living expenses includes spending on clothing, footwear, cosmetics, transport, groceries, and home and contents insurance.</p>
<p>Discretionary living expenses covers spending such as dining out, entertainment, holidays, pay TV, nannies and education, including outside school hours care, private school fees and books.</p>
<p><span style="font-size: 12.16px;"> </span></p>
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j.ballantyne1990-6AQqhLzZaK

AMP Bank decreases deposits required for SMSF property borrowers

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<p>The property market downturn in Western Australia has brought in an opportunity for first home buyers, with homes in 30 entry-level suburbs cheaper today from a decade back. </p>
<p>First home buyers might have to shell out $150,000 less than what they would have paid in 2007 for a house in suburbs with a median price of less than $450,000, according to REIWA figures.</p>
<p>Analysis by The Weekend West revealed that recent and prospective first-homebuyers are the big winners from the property downturn.</p>
<p>The median price has also dropped in the same period in another 21 middle and top-level suburbs.</p>
<p>The 30 suburbs are:</p>
<p>1. Byford</p>
<p>2. Two Rocks </p>
<p>3. Kelmscott</p>
<p>4. Pearsall</p>
<p>5. Medina</p>
<p>6. Secret Harbour</p>
<p>7. Armadale</p>
<p>8. Balga</p>
<p>9. Camillo</p>
<p>10. Mount Nasura</p>
<p>11. Butler</p>
<p>12. Coolongup</p>
<p>13. Ridgewood</p>
<p>14. Ellenbrook</p>
<p>15. Baldivis</p>
<p>16. Nollamara</p>
<p>17. Rockingham</p>
<p>18. Swan View</p>
<p>19. Shoalwater</p>
<p>20. Port Kennedy</p>
<p>21. Gosnells</p>
<p>22. Sinagra</p>
<p>23. Merriwa</p>
<p>24. Waikiki</p>
<p>25. Spearwood</p>
<p>26. Leda</p>
<p>27. Maddington</p>
<p>28. Midland</p>
<p>29. Beechboro</p>
<p>30. Seville Grove</p>
<p>A four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-byford-107390470" target="_blank">24 Pomera Drive, Byford</a> sold in October 2017 for $470,000, according to RP Data.</p>
<p>Built in 2007, it was on the market in the range $530,000-$560,000 in April 2008.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/27/PomeraDriveByford.jpg" alt=""></p>
<p>Overall, the median price in 75 entry-level postcodes, as well as 116 mid and top-tier suburbs in the metropolitan area, have dropped since the height of the property boom in 2014.</p>
<p>About two-thirds of those suburbs suffered a double-digit price fall in that period.</p>
<p>Real Estate Institute of WA president Hayden Groves told The West Australian that there were signs prices were starting to rise.</p>
<p>REIWA statistics reveal that the median price in the three months to October was $520,000.</p>
<p>It had stayed at a low of $515,000 for several quarters.</p>
<p> </p>
<p> </p>
<p> </p>
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First home buyers are the winners in WA property downturn 

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<p>Heritage Bank today announced it has cut interest rates by up to 0.50% on a number of home loans across its portfolio. </p>
<p>Heritage will now offer a variable home loan rate for owner occupiers as low as 3.89%.</p>
<p>The cuts are effective from today, Monday, 27 November. </p>
<p>CEO Peter Lock said Heritage was "thrilled" to be able to offer highly competitive rates to prospective customers. </p>
<p>“We’ve cut our rates to ensure we remain right in the sweet spot for competiveness in the home loan market, and to encourage even more people to enjoy the benefits of our people first approach.” </p>
<p>Mr Lock said Heritage had built its loan volumes strongly over the last year and was keen to keep that momentum going. </p>
<p>“We’ve also just been added to the Aussie home loan broker panel, which gives us access to an extra 1,000 brokers around the country, which will help with our national growth aspirations as well.”</p>
<p><br><span>The interest rate cuts will be as follows for its </span><span>Home Advantage variable owner-occupier (LVR &lt;=80%)</span><span> </span><br><span>        </span></p>
<p><span>$150,000 to $250,000 cut by 0.10% to <strong>3.99%</strong></span><span><br></span></p>
<p>$250,000 to $700,000 cut by 0.10% to <strong>3.94%</strong> </p>
<p><span>$700,000 + cut by 0.10% to <strong>3.89%</strong></span><span> </span></p>
<p>With investment loans the rate cuts are:</p>
<p>Investment Discount Variable Principal &amp; Interest $150k+ (LVR&lt;=80%) cut by 0.30% to <strong>4.19%</strong> </p>
<p><span>Investment (Principal and Interest) 1 and 2-year Fixed Rate cut by 0.20% to <strong>4.29%</strong></span><span> </span></p>
<p><span>Investment (Interest Only) 1 and 2-year Fixed Rate cut by 0.40% to <strong>4.49%</strong></span><span> </span></p>
<p><span>Investment (Interest only) 3-year Fixed Rate cut by 0.50% to <strong>4.49%</strong></span><span> </span></p>
<p><span>Investment (Interest only) 5-year Fixed Rate cut by 0.50% to <strong>4.89%</strong></span><span> </span><br><span><br></span></p>
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Heritage Bank cuts rates for investors and home buyers

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<p>Bargaining a better mortgage rate is a skill mastered by only one in three Australian homeowners.</p>
<p>According to finder.com.au's survey of 1,286 homeowners 33% having been successful in negotiating a lower interest rate on their home loan.<br><br>Forty three percent of homeowners have attempted to get a discount and of those who asked, 77% were successful.<br><br>The research also shows almost half of homeowners (45%) didn’t know you could ask for a discount or simply didn’t bother to request one upon application. <br><br>Men (37%) were more likely than women (29%) to have asked for and received a rate discount.<br><br>Bessie Hassan, money expert at finder.com.au, says mortgage holders need to embrace negotiation. <br><br>“Don’t settle for the advertised rate. Have the confidence to ask for a lower rate, and reap the reward that will come with making smaller mortgage repayments.<br><br>“If you don’t ask, you don’t get,” she says.<br><br>A discount of 0.2 percentage points could save you $20,000 over the course of the average mortgage.<br><br>Generation X were the most likely to have received a discount (38%) followed by Generation Y (32%). Perhaps surprisingly, Baby Boomers were the least likely (28%) to secure a rate discount.<br><br><br></p>
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Baby boomers least likely to secure home loan discount

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<div>
<p>Allianz plans to boost its real estate investment in China, announcing the launch of a $US750 million ($992 million) fund that targets malls in major cities.</p>
<p>The German insurer and asset manager expects outlet shopping in China will continue to grow despite threats from online stores and a slowing economy.</p>
<p>Allianz Real Estate, Allianz's $63.5 billion property investment arm, launched the China-focused fund in partnership with investor TH Real Estate earlier this month.</p>
<p>Allianz will be the anchor investor owning 30 percent of the fund.</p>
<p>"China will become one of the top markets for us in Asia," Rushabh Desai, Asia-Pacific CEO of Allianz Real Estate, told Reuters.</p>
</div>
<div>He expects to grow Allianz's real estate portfolio in China to more than €1 billion ($1.18 billion) over the next 12 months, from about €760 million by the end of this year.</div>
<div> </div>
<div>Last year, the number was €100-150 million.</div>
<div>
<p>"Even if there is a slowdown, China still has 5-6 per cent annual GDP growth, right? In my mind, 5-6 per cent growth is still one of the best growth in the world," Desai said.</p>
<p>He also sees limited threat from China's booming online shopping, saying people don't buy Prada bags via the internet.</p>
</div>
<div>"People are not buying branded products online; people are buying day-to-day stuff online from Alibaba."</div>
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The Chinese don't buy Prada bags via the internet: Allianz Real Estate boss

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<div>
<div>The Dow Chemicals chief Andrew Liveris sold his ’70s-style beach house at Whale Beach at weekend auction.</div>
<div> </div>
<div>It fetched $3.33 million — with whispers quickly suggesting it was snapped up by a neighbour. </div>
<div> </div>
<div>The Belle selling agent Greg Griffin who had $3 million hopes given its down-at-heel presentation wouldn’t be drilled on which one.</div>
<div> </div>
<div>The 1100sqm Whale Beach Rd parcel sloping down to the ocean had cost $3.675 million in pre-GFC 2006.</div>
<div> </div>
<div>The Michigan US-based Liveris and his wife Paula will make an $8.15 million Point Piper apartment part of their retirement plans.</div>
</div>
<p>Liveris, who previously worked on an advisory panel for Barack Obama, was described by President Donald Trump as "one of the foremost leaders in manufacturing, one of the foremost leaders in the world of business".</p>
<p>This article was first published in the Sunday Telegraph.</p>
<p> </p>
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Dow Chemicals boss Andrew Liveris sells at Whale Beach for a loss to neighbour

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<p>A Mount Eliza estate agency and its director and officer in effective control have each been penalised $8,500 for contravening Victorian estate agent laws.</p>
<p>The Frankston Magistrates’ Court found that between June 2015 and March 2016, Helen Sly, 64, of Mount Eliza, knowingly authorised or permitted Bay Life Properties to:</p>
<ul>
<li>cause a deficiency in its trust accounts, ranging from $500 to $58,000, by not having sufficient funds in the trust account at all times</li>
<li>on five occasions, fraudulently convert trust money to its business cheque account before it was entitled to the funds. </li>
<li>fail to keep full and accurate accounting records showing particulars of each transaction, and</li>
<li>fail to correctly balance accounts at the end of the month.</li>
</ul>
<p>The five transfers totalled $14,500.</p>
<p>The Consumer Affairs Victoria department became aware of the offences after undertaking an inspection of the business following the receipt of a qualified trust account audit report.</p>
<p>It related to deposits for Mt Eliza and Mt Martha house sales between June 2015 and March 2016.</p>
<p>On each occasion she repaid the money back into the account a few days later.</p>
<p>Defence lawyer Bradley Newton said Sly was under financial pressures from her business and was deeply ashamed of her behaviour.</p>
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Mt Eliza estate agent fined over contravening Victorian estate agent laws

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<p>BrickX, the fractional property investing platform, is seeing discounted prices available on the ‘brick’ valuations on many of its properties.</p>
<p>Discounts on official valuations were available on eight of its property offerings.</p>
<p>BrickX divides each property it acquires into 10,000 units it calls ‘Bricks’ and offers them to investors. </p>
<p>The largest discount per brick was for a two-bedroom unit at <a href="https://www.brickx.com/properties/DBB01/summary" target="_blank">7/22 Ocean Avenue</a> (picture above) in Sydney’s Double Bay. The discount is 2.5 percent for a brick priced at $96. </p>
<p>The discount is measured as a percentage of the official ‘brick’ valuation price. In this case, the brick valuation price is $98.46. </p>
<p>Another two-bedroom unit, this one at Manly’s 4/8 James Street, has its bricks discounted by 2.3 percent. The lowest available brick is priced at $85 now.</p>
<p>In Bondi Beach, the discount on a brick for a two-bedroom unit at 2/5 Ramsgate Avenue is 2.19 percent. The lowest brick is priced at $98.</p>
<p>In Sydney’s Mosman, there is a discount of 1.69 percent on each brick of $141 for a two-bedroom unit at 18/5 Parriwi Road.</p>
<p>In Sydney’s inner suburb of Surry Hills, a two-bedroom unit has its bricks being offered at a discount of 1.05 percent at $94 per brick.</p>
<p>Another Melbourne property, at three-bedroom house at 10 Shamrock Street in Brunswick West, has its bricks discounted by 1.01 percent at $98 per brick.</p>
<p>A house in Sydney's Annandale at 109 Albion Street has its lowest priced 'brick' being offered at a discount of 0.74 percent <span>to the 'brick' valuation. The lowest brick price is $112. </span></p>
<p>Another house, this one a three-bedder at 24 Clayton Street in Sydney’s waterside suburb of Balmain, has bricks being offered at a 0.71 percent discount at $139 each.</p>
<p>The same discount of 0.71 percent is being offered for a two-bedroom unit at 4/6 Miller Street in  Melbourne’s Prahran. The price for the lowest available brick is $123.</p>
<p>Not all properties held by BrickX have discounts though.</p>
<p>Property Observer counted five properties where bricks are being sold at a premium. One at Enmore is trading at an eight percent premium to valuation. There also are properties in Adelaide’s St Peters, Port Melbourne, and in Sydney’s Potts Point and Darlinghurst at a premium.</p>
<p>At last count, BrickX had 8,256 active members while its properties had a total value of $16.87 million.</p>
<p>During the release of its six-monthly valuations in July, BrickX said the Annandale house rose in value by 7.4 per cent in the last six months, the most for any of its acquisitions. </p>
<div>Investors are in control of selecting the price at which they wish to sell their Bricks, its CEO Anthony Millet recently advised.</div>
<div> </div>
<div>"Whilst property is generally a medium to long term investment, the opportunity to put your Bricks up for sale does give a lot of flexibility to the investor in exiting should their investment strategy or personal circumstances change. </div>
<div> </div>
<div>"At any point in time we have a number of sellers who are selling their bricks (as is to be expected with any investment, shares, or pulling money out of a savings account etc) which also provides liquidity opportunities for buyers to enter existing investments."</div>
<div> </div>
<div>He said the majority of these transactions occurs within a +/- 2% premium or discount to the last valuation (last conducted in July 2017).</div>
<div> </div>
<div>"To date the median time it has taken someone to sell their position has been circa 14 hours - which is pretty amazing when you consider how long it takes to sell an entire property.</div>
<div> </div>
<div>"In addition, customers are only paying a 1.75% transaction fee when they sell, which considered against the cost of selling a property can often be 4%+ (when you take into account agent fees, lack of rent/voids periods, remedial work) this compares very favourably to the traditional way of dealing in property.</div>
<div> </div>
<div>"New and existing investors also see Brickx listed for sale at a discount to the last valuation as a good opportunity to enter the property market or add to their position and build their portfolios.</div>
<div> </div>
<div>"As at now, Bricks listed for sale at discounts relate to 0.6% of the total value of the BRICKX portfolio, so are relatively thin in volume," he said last week.</div>
<p class="p1"><span class="s1"> </span></p>
<p class="p1"><span class="s1"> </span></p>
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Discounted BrickXs on offer - but in thin volume 

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<p>The conical shaped home of the gelato outlet Limonetto at 35 NewQuay Promenade in Melbourne's Docklands has been sold for $740,000.</p>
<p><a href="https://www.realcommercial.com.au/property-retail-vic-docklands-502566118" target="_blank">The waterfront building</a> sold before auction on a 7.4 per cent yield.</p>
<p>There was a net income of $55,000 p.a. and a new 5 year lease with options.</p>
<p>It had previously been on the market in 2015 but failed to sell.</p>
<p>Colliers International's handled the sale in conjunction with Kenny Oliver of Hocking Stuart Commercial.</p>
<p>The property received multiple unconditional offers before the auction.</p>
<div style="position: absolute; left: 8px; top: 20px; width: 100px; height: 100px;">New layer...</div>
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New landlord for Limonetto - the best homemade gelato found outside Italy at Docklands

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<div>The Horsham Gateway shopping centre in Victoria’s Wimmera region has been sold to a Chinese investor for $14.55 million. </div>
<div> </div>
<div>The centre located at <a href="https://www.realcommercial.com.au/property-retail-vic-horsham-502568898" target="_blank">120-124 Wilson Street</a>, was sold by a local private developer at Horsham, a regional town halfway between Melbourne and Adelaide.</div>
<div> </div>
<div>The centre is anchored by Target on a new 15 year lease.</div>
<div> </div>
<div>There are six non-discretionary specialty shops, including "a bustling Snap Fitness." </div>
<div> </div>
<div>It was advised has having a fully leased net income of $1,205,000pa.</div>
<div> </div>
<div>The 1.21ha site comprises additional Commercial 2 zoned land that provides scope for future development.</div>
<div> </div>
<div>The $12-million development created more than 250 jobs during its construction phase. Target opened in May 2013.</div>
<div> </div>
<div>The quality of the Target lease covenant remains just as strong as a Woolworths or Coles supermarket, however the rent per square metre is generally substantially less, the CBRE selling agency advised.</div>
<div> </div>
<div>Other recent regional retail transactions include the IGA, Nagambie at $7,800,000 reflecting a 6.11 % yield and Bunnings, Yarrawonga at $11,500,000 reflecting a 4.9% yield.</div>
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Chinese buyer secures Horsham Gateway shopping centre

<p>Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.</p>

<p>The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.</p>

<p>The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.</p>

<p>Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.</p>

<p>The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.</p>

<p>Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.</p>

<p>The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.</p>

<p>Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.</p>

<p>"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.</p>

<p>"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."</p>

<p>The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.</p>

<p>&nbsp;</p>


Joel Robinson

Central Element seeks second Drummoyne apartment development

<p>The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.</p>

<p>The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.</p>

<p>The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.</p>

<p>The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.</p>

<p>A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.</p>

<p>Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.</p>

<p>The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.</p>

<p>Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.</p>

<p>The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.</p>

<p>Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.</p>

<p>"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.</p>

<p>"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.</p>

<p>"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."</p>

<p>The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.</p>

<p>Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.</p>


Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<p><a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.</p>

<p>The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.</p>

<p><a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=350663]</p>

<p>The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.</p>

<p>Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.</p>

<p>Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=372756]</p>

<p>Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.</p>

<p>Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.</p>

<p>Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.</p>

<p>"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.</p>

<p>"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=350664]</p>

<p>MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.</p>

<p>"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.</p>

<p>"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=372761]</p>

<p>Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.</p>

<p>"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."</p>

<p>Construction at Maris is anticipated to be completed in 2029.</p>

<p>[smartcode_project_cta:default project_id=134403]</p>


Construction commences on MRCB’s $200m Maris Residences in Southport

<p>Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.</p>

<p>Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;</p>

<p>The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.</p>

<p>Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;</p>

<p>[smartcode_project:default project_id=142519 project_image_fid=372786]</p>

<p>Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;</p>

<p>The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;</p>

<p>Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.</p>

<p>"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.</p>

<p>[smartcode_project:default project_id=142519 project_image_fid=372788]</p>

<p>Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.</p>

<p>"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”</p>

<p>Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.</p>

<p>Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.</p>

<p>[smartcode_project_cta:default project_id=142519]</p>


Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

<p>A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.</p>

<p>Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.</p>

<p>The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.</p>

<p><img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" /></p>

<p>According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.</p>

<p>Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.</p>

<p>"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.</p>

<p>"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."</p>

<p>The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.</p>

<p><img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" /></p>

<p>Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.</p>

<p>The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.</p>

<p>The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.</p>

<p><img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" /></p>

<p>Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.</p>

<p>Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.</p>

<p>The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.</p>

<p>Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.</p>


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