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A Brisbane real estate agent was sentenced to 12 months’ imprisonment, suspended for 18 months in the Brisbane Magistrates Court, following an Office of Fair Trading (OFT) investigation.
Satvinder Singh Dhillon, sole director and principal agent of Lionheart Realty, was found guilty of wrongful conversion of trust money.
Mr Dhillon was also disqualified from holding a real estate licence for five years.
The court heard tenants paid rent and bonds to Lionheart Realty in mid-2016, but rather than paying property owners the rent money owing to them and passing the bond money on to the Residential Tenancies Authority (RTA), Mr Dhillon transferred the trust money, a total of $13,142, to his personal account.
The OFT’s investigation also revealed Mr Dhillon’s real estate licence expired on 10 May 2016, but he continued to work illegally as a real estate agent, operating Lionheart Realty.
In sentencing, the magistrate stressed the seriousness of the offences and the betrayal of trust that such breaches cause.
Fair Trading Executive Director Brian Bauer emphasised trust money did not belong to real estate agents and must never be treated as personal money.
“Tenants and property owners expect their real estate agents will manage trust accounts appropriately,” Mr Bauer said.
“Bond money does not belong to a real estate agent, and must be transferred to the RTA correctly.
“The OFT will continue to investigate allegations of real estate agents who misappropriate trust money and take action against those who do.”
Anyone who believes a real estate agent may have misappropriated trust money or is acting as an agent without the appropriate licence is encouraged to lodge a complaint to the OFT <a href="https://www.qld.gov.au/fairtrading" target="_blank">here</a>.
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j.ballantyne1990-6AQqhLzZaK

Lionheart Brisbane real estate agent no longer trusted with trust money

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The REIQ quarterly rental vacancy rate data for the June quarter has revealed a tightening in inner Brisbane.
It also showed a tightening through much of regional Queensland, which the REIQ says indicates a recovery is "on the cards" in the state’s weaker markets.
The Brisbane LGA vacancy rate fell from 3.7 per cent in the March quarter to 3.3 per cent, moving from the weak to healthy range.
Inner Brisbane, which is overwhelmingly dominated by apartments, fell from its all-time high of 4.4 per cent in March to 3.5 per cent in the June quarter.
REIQ CEO Antonia Mercorella said Brisbane’s inner city tightening vacancy rate was a good indicator about the health of the market in the inner city.
“Brisbane’s inner city is showing resilience, with the balance of landlords and tenants relatively equal for the June quarter”.
“At 3.5 per cent, the REIQ classifies this market as healthy and this is when both tenants and landlords have reasonable expectations of their needs being met,” Ms Mercorella said.
“We know that the population growth and jobs in the southeast corner are, so far, sufficient to absorb the level of apartment supply coming onto the rental market.
“The market has an unswerving ability to self-correct. In the first quarter of 2015, 2300 new apartments came onto the market and in the first quarter of 2017, around 260 apartments came onto the market,” Ms Mercorella said.*
Brisbane’s middle ring (5-10km) remains a tighter rental market than the inner ring with a vacancy rate of 3.1 per cent, the same as the March quarter.
“The middle ring presents an affordable alternative to the inner ring and over the past six to nine months we’ve seen this ring tighten.”
<a href="https://www.propertyobserver.com.au/images/2017/07/26/Screen%20Shot%202017-07-26%20at%2011.52.03%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/07/26/Screen%20Shot%202017-07-26%20at%2011.52.03%20am.jpg" alt="">
Elsewhere, the rental market, in most regions in Queensland, showed a similar trend.
Ipswich was one of the few markets that eased, moving from a tight market in March, with a vacancy rate of 2 per cent, to a healthy market in June with a vacancy rate of 3.1 per cent.
Other regions in Greater Brisbane – Logan, Moreton Bay and Redland – remain in the tight to healthy range.
Logan tightened from 2.8 to 2.2 per cent, moving from the healthy range into the tight range.
Moreton Bay eased fractionally, from 1.6 per cent to 1.7 per cent, but this is still very much a tight market. Redland eased a sliver, from 2.5 per cent to 2.6 per cent, which means it is still a healthy market, but only by a hair.
The Gold Coast (1.7 per cent) and the Sunshine Coast (1.2 per cent) remained tight, which means tenants will continue to find it challenging to secure rental accommodation. Noosa tightened from 4 per cent to 3 per cent and this means the market is healthy.
For a third consecutive quarter, Maroochydore was the tightest rental market in Queensland, reaching a vacancy rate of 1 per cent for June 2017.
Moving further north into our regional markets that have typically been weak markets for the past year or so, we see a general trend of tightening.
Toowoomba eased slightly, from 2.9 per cent to 3.2 per cent, however, this is still a healthy market. Construction work is still in plentiful supply in this region and it’s likely that the supply of accommodation (mostly units) has contributed to easing some of the tight conditions in this rental market.
Fraser Coast tightened from 3.9 per cent to 2.6 per cent. Hervey Bay tightened sharply from 4.2 per cent to 2.6 per cent.
<a href="https://www.propertyobserver.com.au/images/2017/07/26/Screen%20Shot%202017-07-26%20at%2011.52.13%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/07/26/Screen%20Shot%202017-07-26%20at%2011.52.13%20am.jpg" alt="">
Bundaberg tightened from 4.6 per cent to 3.6 per cent, which is yet another good news sign that the economic fortunes of this coastal town are continuing to improve.
The Knauf plasterboard factory received its first delivery of gypsum last week, kickstarting production and contributing to employment of workers in the community.
Gladstone eased a sliver from March to June, with the vacancy rate at 6.5 per cent. This is good news because it confirms that last quarter’s dramatic tightening from 9.9 per cent in December to 6.4 per cent in March, was a genuine improving trend, rather than a brief outlier.
Mackay also sharply improved, dropping from 6.4 per cent in March to 4.5 per cent in June. Local agents have been telling this story for some time – workers are returning and jobs are on the rise in Mackay.
Rockhampton tightened from 8.6 per cent to 7.2 per cent which leaves the beef capital still in weak territory.
Townsville tightened from 6.2 per cent in March to 5 per cent in June. The Government focus on delivering jobs and major infrastructure projects, such as the new Cowboys Stadium, to the northern city is beginning to gain traction, with workers returning to the area hopeful of snapping up some of the many jobs on offer. 
Cairns remained steady at a tight 1.8 per cent. Rental property investments deliver some of the highest gross rental yields in the state and this market would benefit from additional rental stock on the market.
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Queensland vacancy rates tighten as does Inner Brisbane vacancies

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Online mortgage marketplace HashChing has welcomed financial services and media heavyweights Paul Rickard and Marty Switzer to its advisory board.
Paul Rickard is a well-respected financial services veteran.
Previously the founding managing director of CommSec and a senior executive and CIO of Commonwealth Bank, he is now a non-executive director at Property Exchange Australia (PEXA), Tyro Payments and Switzer Asset Management Limited.
Marty Switzer brings a wealth of media savvy to the HashChing board with his extensive experience as a finance commentator across broadcast, print and online.
He is also the chief operating officer of Switzer, a leading media and financial services group.
Both have also invested an undisclosed amount in HashChing as part of the company’s current $6 million capital raise.
Rickard and Switzer join senior executives already on the HashChing advisory board who boast expertise across fin-tech, foreign investment, legal, and financial planning: Victor Jiang, Helen Lorigan, Claire Wivell-Plater and Siobhan Hayden.
“I'm excited to be involved with HashChing.
“Mandeep and the team have done an outstanding job in building a disruptive business model and distribution network in such a short period of time.
“The future looks bright and I am looking forward to the journey,” said Mr Switzer.
“The HashChing business model of connecting home loan borrowers with customer- reviewed brokers and the best rates is unique, and I am excited by the investment opportunity,” said Mr Rickard.
HashChing CEO Mandeep Sodhi said the new additions to the board would be instrumental in helping the company disrupt the stranglehold of the big four banks and evolve its business model to encompass other financial services successfully.
Since launching in August 2015, the online mortgage marketplace has received more than $7 billion worth of home loan applications, helped upwards of 14,000 customers find a better deal on their home loan and boasts an expansive network of more than 500 verified brokers.
The company has also achieved a number of other industry firsts by incorporating cutting-edge technologies, including predictive analytics, geo-targeting, machine learning and virtual verification of identity (VOI) into their platform.
Rickard and Switzer join senior executives already on the HashChing advisory board who boast expertise across fin-tech, foreign investment, legal, and financial planning: Victor Jiang, Helen Lorigan, Claire Wivell-Plater and Siobhan Hayden.
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HashChing fin-tech adds Switzer links to its advisory board 

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The Property Council welcomes the announcement that WA is set to be the first Australian capital city to enter into a City Deals agreement.
Lino Iacomella, Property Council WA Executive Director said the announcement by Federal Minister for Cities and Digital Transformation Angus Taylor that Perth is next in line for City Deals is a game-changer in achieving the twin goals of funding infrastructure and local planning reform.
“A City Deal is an agreement between federal, State, and local governments to deliver funding for infrastructure like a light rail project," he said.
“It’s about time WA receives a City Deal. 
“For too long WA has missed out on federal funding for infrastructure because we were not prepared.
“It is great that the WA Government has stepped up and commenced discussions with Canberra about doing City Deal.
“However, a few important steps need to be taken quickly if WA is to finally achieve a City Deals agreement.
“The State Government must fast-track the establishment of Infrastructure WA to ensure our infrastructure needs are prioritised and made transparent, which will allow the Federal Government to put aside funding well in advance.
“At the same time, the State Government must ensure that local governments modernise their local planning rules. 
“Property Council research found that most local governments in Perth do not have up to date local planning strategies which stalls development and deters much-needed investment in our State.
“City Deals will enable the State Government to fund election promises such as the Ellenbrook rail line and METRONET.
“These projects will create thousands of jobs as well as vibrant communities in the hubs that will surround the new transport nodes.
“Access to this funding mechanism is essential to keep WA growing,” Mr Iacomella said.
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WA City Deals will create jobs and vibrant communities

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Only a small fraction of the one million vacant dwellings on the 2016 census night were likely owned by foreign investors.
An analysis of the August census results by the economic consultancy SGS Economics has gone towards debunking the suggestion that foreigners are contributing to a housing shortage by leaving their homes empty.
SGS found the largest concentration of unoccupied dwellings was in the regions, reflecting lack of accomodation demand, rather than in the overbuilt capital cities where new apartment construction has been at record levels.
The firm’s analysis of the census shows that people being away from home was by far the most common reason for empty dwellings on census night, accounting for 453,000 properties.
There were also 237,000 holiday houses unoccupied.
The likely total of stock deliberately kept out of use was small, SGS economist Terry Rawnsley said.
The 2016 result was the highest vacant recorded over the time period analysed by SGS Economics from 1981 to 2016.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="112">
Region
</td>
<td valign="top" width="70">
Dwellings
</td>
<td valign="top" width="85">
Vacant share of total
</td>
</tr>
<tr>
<td valign="top" width="112">
Greater Sydney
</td>
<td valign="top" width="70">
136,019
</td>
<td valign="top" width="85">
7.3%
</td>
</tr>
<tr>
<td valign="top" width="112">
Regional NSW
</td>
<td valign="top" width="70">
148,683
</td>
<td valign="top" width="85">
12.4%
</td>
</tr>
<tr>
<td valign="top" width="112">
Greater Melbourne
</td>
<td valign="top" width="70">
167,494
</td>
<td valign="top" width="85">
9.1%
</td>
</tr>
<tr>
<td valign="top" width="112">
Regional VIC
</td>
<td valign="top" width="70">
111,136
</td>
<td valign="top" width="85">
16.1%
</td>
</tr>
<tr>
<td valign="top" width="112">
Greater Brisbane
</td>
<td valign="top" width="70">
68,386
</td>
<td valign="top" width="85">
7.6%
</td>
</tr>
<tr>
<td valign="top" width="112">
Regional QLD
</td>
<td valign="top" width="70">
127,171
</td>
<td valign="top" width="85">
11.7%
</td>
</tr>
<tr>
<td valign="top" width="112">
Greater Adelaide
</td>
<td valign="top" width="70">
47,396
</td>
<td valign="top" width="85">
8.4%
</td>
</tr>
<tr>
<td valign="top" width="112">
Regional SA
</td>
<td valign="top" width="70">
44,829
</td>
<td valign="top" width="85">
22%
</td>
</tr>
<tr>
<td valign="top" width="112">
Greater Perth
</td>
<td valign="top" width="70">
85,744
</td>
<td valign="top" width="85">
10.5%
</td>
</tr>
<tr>
<td valign="top" width="112">
Regional WA
</td>
<td valign="top" width="70">
47,137
</td>
<td valign="top" width="85">
18.6%
</td>
</tr>
<tr>
<td valign="top" width="112">
Greater Hobart
</td>
<td valign="top" width="70">
8,806
</td>
<td valign="top" width="85">
8.9%
</td>
</tr>
<tr>
<td valign="top" width="112">
Regional Tas
</td>
<td valign="top" width="70">
23,323
</td>
<td valign="top" width="85">
16.3%
</td>
</tr>
<tr>
<td valign="top" width="112">
Greater Darwin
</td>
<td valign="top" width="70">
5,529
</td>
<td valign="top" width="85">
10%
</td>
</tr>
<tr>
<td valign="top" width="112">
Regional NT
</td>
<td valign="top" width="70">
5,184
</td>
<td valign="top" width="85">
15%
</td>
</tr>
<tr>
<td valign="top" width="112">
ACT
</td>
<td valign="top" width="70">
12,590
</td>
<td valign="top" width="85">
7.7%
</td>
</tr>
<tr>
<td valign="top" width="112">
Other Territories
</td>
<td valign="top" width="70">
376
</td>
<td valign="top" width="85">
19.5%
</td>
</tr>
</tbody></table>
"With the 2016 census being broadly in line with historical levels we can't blame investors intentionally leaving homes vacant or the rise of Airbnb," Rawnsley told Fairfax Media.
"There might be 180,000 dwellings falling into this 'withheld-from-market' category, but it's not going to be one million."
Around 55,000 homes were ­vacant as they had just been completed, while a further 47,000 were being renovated or repaired.
A further 16,000 were awaiting demolition, the SGS report said.
<div>
<div>There were 110,000 properties awaiting rental (presumably including some foreign-owned pro­perties).</div>
<div> </div>
<div>The analysis showed a further 70,000 properties were not covered by any these reasons.</div>
<div> </div>
<div>“While this analysis has limitations, it suggests that most of the dwellings that were unoccupied on census night were unoccupied for a very valid reason.</div>
<div> </div>
<div>"There does not appear to be a large pool of dwellings being withheld from the housing market,” the SGS ­report said.</div>
</div>
Although the number unoccupied was higher in the latest census, it rose only from 10.7 per cent of all dwellings to 11.2 per cent. The figure has been around 10 per cent since the 1980s.
Sydney’s pricey property market had only 7.3 per cent of dwellings vacant, the lowest rate in the country. Regional South Australia, by contrast, has 22 per cent of its housing empty.
Empty homes are most often found in areas that suffer a loss of major industries or where there is a large number of holiday homes.
While Sydney's inner suburbs had a rate of 9.5 per cent, this fell in regional areas such as Shoalhaven, where 26.1 per cent of homes were empty on census night.
In Greater Melbourne, the rate was 9.1 per cent – but higher in the inner suburbs 11.1 per cent of homes were vacant. However on the Mornington Peninsula this at 22 per cent due to holiday homes.
The Australian noted both federal and state governments have imposed punitive taxes on foreign investors who leave properties vacant, on the basis of suggestions that Chinese buyers are seeking assets in Australia for financial security rather than for return.
This year’s budget included a penalty for foreign-owned properties left vacant for more than six months, levied at $5000 for properties worth less than $1 million and a sliding scale for properties worth more.
It has however yet to be implemented.
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Foreigners not to blame for vacant ghost homes: SGS Economics

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MyState Bank Limited (MyState), a Tasmanian bank, has refunded more than $230,000 in over-charged interest and fees to more than 1,040 customers with mortgage offset accounts.
Following a customer complaint, and after a review of its accounts, MyState found that some customers:
<ul>
<li>Did not have their offset accounts linked to their mortgages – meaning that they were over-charged interest</li>
<li>Were charged ‘offset account’ fees after their loan had been discharged or changed to a kind that could not be linked to an offset account.</li>
</ul>
This was due to errors in MyState’s manual administration processes, including failures to link loans and offset accounts, and failures to deal with offset accounts when loans were switched or discharged.
The matter was reported to ASIC by MyState.
MyState has worked with ASIC to refund customers and improve its internal processes, including by ensuring employees have appropriate account administration training.
"Banks need to ensure that their products are delivering the benefits that they are promoting," ASIC Deputy Chair Peter Kell said.
"This is another example of a single customer complaint revealing a systemic issue, and we are pleased that MyState has taken the appropriate action in response."
MyState has contacted customers who are eligible for a refund. Customers who have questions about their accounts should contact MyState on: 138 001.
MyState is a wholly owned subsidiary of MyState Limited, a national diversified financial services group headquartered in Tasmania.
The breach was detected when a customer enquired about their accounts being linked. MyState conducted a review of accounts set up in a similar manner.
MyState found customers with loans and unlinked offset accounts, customers with offset accounts but no loans, and customers with offset accounts together with ineligible loan products.
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MyState refunds more than $230,000 of over-charged fees and interest

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Renovating properties in Tasmania is becoming more popular, according to Herron Todd White’s latest report.
The property valuation firm says that Hobart and Launceston are where renovation work is the highest.
“Throughout the Tasmanian property market renovation is a popular pastime, as many houses and units have become dated and in need of an update.
“With the increase in demand for properties throughout the greater Hobart and Launceston regions, we are seeing many home owners who are looking to place their property on the market, either renovating their property prior to sale, or placing it on the market with an advertisement description outlining the property’s renovation potential for both the investor or owner-occupier.
“The term flipping properties has also become quite common in our market.
“Many property investors are looking to make a quick profit from purchasing a property with the intention to renovate over a six to 12 month period, then placing it back on the market at a considerably higher price than the original purchase price,” the report stated.
Home renovations has inspired a competitive housing market Herron Todd White says.
“According to the latest figures home renovations have surged which has been inspired by the competitive housing market.
“There have been reports from the financial and housing sectors which have noted an increase in people opting to renovate instead of buying a new house.
“The latest Westpac Home Ownership Report noted, close to half of the respondents were thinking about going down the renovation path and one out of five had started to renovate.
“The report noted that in Tasmania 71% of respondents were completing renovation work at the time, and from those thinking about renovating in the near future, 23% advised it was their highest priority.
“The Housing Industry Association Tasmania in its latest Renovation Roundup report mentioned renovation activity in Tasmania was forecast to increase between now and 2020, which will bring the value of renovation activity to $758 million.
“The report also mentioned the largest rise was forecast for this year with approximately 6% growth,” the report commented.
There is a split between owner-occupiers and investors Herron Todd White comments.
“Both in the north and south of the state we are seeing a split between owner-“occupiers and investors.
“Investors do seem to be on the increase and there is a strong possibility investors will dominate the market, especially with the increase in property prices throughout mainland Australia, which could drive investors to Tasmania.
“We are also seeing that rising prices and strong demand for property has home owners worried about being priced out of the market, therefore they are opting to renovate,” the report stated.
Kitchen and bathroom are the primary renovation areas Herron Todd White advises.
“The most popular locations for renovatable properties are within the suburbs located closer to the Hobart and Launceston CBDs as they are still at an affordable price.
“Also with the increase in year wide tourism throughout the state, we are seeing many properties renovated in order to be advertised for short term accommodation through Airbnb and Stayz.
“As you travel further from the Hobart and Launceston CBD, there is a decrease in demand for properties.
“The main renovations being completed are kitchen, bathroom and painting throughout.
“We are seeing varying costs for this renovation work depending on the location of the property.
“The closer a property is to the CBD, there is a noticeable increase in architecturally designed renovations which increases the over cost of work,” the report advised.
Herron Todd White says that unit renovations are becoming increasingly common.
“Unit renovation is also quite common throughout the state as many units are also dated and in need of an update.
“With generally less costs associated in renovating a unit, there is strong appeal to complete these works.
“Units closer to the CBD are in high demand with a current shortage in supply which is attracting many investors to the units advertised for sale.
“Areas at a distance and not within the greater Hobart and Launceston areas can struggle when it comes to making a profit post renovations, as there is considerably less demand for properties in these areas.
“In saying this, had renovation work not have been completed in these areas, the properties may experience an extended selling period.
“It pays to do your research prior to commencing any renovation work as what can appear to be a simple renovation job can quickly lead to unexpected issues and delays which can prove to be quite costly.
“To assist with planning and budgeting home owners should take steps to determine the estimated available equity in their property,” the report stated.
Property Observer found a beauty with a renovated bathroom at <a href="https://www.realestate.com.au/property-house-tas-deloraine-125787306" target="_blank">40 Parsonage Street Deloraine, Tasmania</a> (below).
The three bedroom home is on 645 m² and is on the market for $248,000.
<img src="https://www.urban.com.au/images/2017/07/26/Screen%20Shot%202017-07-26%20at%209.49.07%20AM.png" alt="">
A four bedroom home at <a href="https://www.realestate.com.au/property-house-tas-ulverstone-126017522" target="_blank">27 Heathcote Street Ulverstone</a> (below) is on the market for $329,000.
The two storey home sits on 718 m². 
<img src="https://www.urban.com.au/images/2017/07/26/Screen%20Shot%202017-07-26%20at%209.52.58%20AM.png" alt="">
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Renovations increasingly popular in Tasmania, but profits can be a struggle: HTW

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Ryan Serhant is to give a seminar in Australia in September.
His 40-strong sales team was ranked first in New York 2015 and fifth in the USA 2016 &amp; 2017 by Wall Street Journal Real Trends.
They have a list-to-sale ratio of 94.5 percent.
He has been a star of the Bravo TV reality series, the two-time Emmy-nominated Million Dollar Listing New York, which is currently in its sixth season.
Ryan is also working on a new spinoff show. 
The series will follow the Big Apple agent as he puts his skills to the test, helping struggling sales reps who are hankering for some of his expertise.
In the process of learning the tricks of a particular trade, "he will also help an under-performing salesperson become a selling shark just like him."
His attendance will be at Smart Money, an event for people looking to create multiple streams of income and improve their business strategy, hosted by Success Resources Australia Pty Ltd.
During the event, attendees will be provided with training and other content, and be given the opportunity to purchase further training and seminar services.
Success Resources will host the events at Sofitel Melbourne on Collins, Melbourne and Sofitel Wentworth Hotel, Sydney.
His first day in the real estate business was September 15, 2008 – the same day that Lehman Brothers filed for bankruptcy.
Serhant prides himself as becoming one of the most successful brokers in the world through a combination of sound strategy, nurtured relationships ands intimate market knowledge.
Fellow agent from the series Fredrik Edlund has visited Australia twice in recent times.
In 2015 Josh Altman, from the hit TV show Million Dollar Listing Los Angeles, headed to Australia keen to check out our trophy home offerings.
 
 
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Ryan Serhant, the New York Million Dollar Listing star, to visit Sydney and Melbourne

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A Sunshine Coast hinterland home at Maleny has been listed with $5 million.
Maleny Manor consists of a wedding and reception venue, chapel, helipad, vineyard and seven accommodation suites.
With ocean and hinterland views, it is a 11.4 ha estate.
The 894 Landsborough Maleny Road home has been listed by businessman Geoffrey Thomas.
He has owned the property for 23 years but doesn’t get to visit often as he now lives in the United States.
Hayley Manvell and Wayne Bunz, CBRE Hotels has the listing.
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Maleny Manor listed on the Sunshine Coast

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A sandstone Rose Park house has been sold for $1.605 million making it Adelaide’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-sa-rose+park-125882334" target="_blank">8 Hewitt Avenue</a>, Rose Park Rose has original features throughout the property.
Built in 1900 the property was last sold in 1995 for $307,500.
It has three double sized bedrooms, all with its own fireplace.
A formal lounge also with its own fireplace.
The rear had been extended and now has an updated kitchen, a TV room and modern laundry.
There is also a two-roomed cellar that is easily accessible.
The property is in close proximity to the CBD, iconic East Parklands, cafes, public transports and shops.
The property was offered through Toop &amp; Toop agents Peter McMillan and Eloise McMillan.
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Sandstone 1900s Rose Park house, Rose Park Rose, sold for $1.605 million

A trio of Queensland property groups have unveiled plans for a $300 million mixed-use redevelopment of the former Noosa Bowls Club site, a proposal that would deliver more than 200 new homes in one of the Sunshine Coast's most supply-constrained markets.

Kilter Property, Frank Developments and Calile Malouf Investments are behind the plans for the 1.8-hectare site at <a href="https://www.apartments.com.au/new-apartments/99-noosa-drive-noosa-heads-qld-4567">99 Noosa Drive</a>, which would transform the long-vacant site into a new residential precinct featuring 208 apartments, retail, hospitality and public space.

The proposal comes as Noosa continues to grapple with housing affordability and a shortage of permanent accommodation, particularly for key workers. The site's location in Noosa Junction, close to shops, public transport and employment, aligns with the direction of Noosa Council's Housing Strategy, which encourages higher-density housing within established activity centres rather than continued urban expansion.

The draft plans include 48 affordable-by-design apartments and 48 rooming accommodation units aimed at key workers. Around 2,000 sqm of ground-floor retail and food and beverage space would activate the street frontage, alongside a new public town square and landscaped open space.

<img alt="Noosa" data-entity-type="file" data-entity-uuid="2dd02f53-1360-4e51-801e-bfd61a6c980e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-26%20at%208.44.34%E2%80%AFPM.png?VersionId=x1iNs3BSMN6Jy7YUwaBZMHRrrKX2hMpy" />

&nbsp;

Frank Developments Founder and Director Frank Licastro said the development would continue the company's focus on architecturally-led residential projects while addressing one of the region's biggest challenges.

"Not only will this project exude a sense of luxury, it will also enhance not only the built environment but also the surrounding community," Licastro said.

"Noosa's success relies on the people who live and work here. Providing well-designed accommodation for key workers is critical to supporting the local economy and ensuring the Shire can continue to thrive."

Kilter Property Co-Founder Huw Williams said the focus was on delivering additional permanent housing while creating a mixed-use destination that benefits both residents and the wider community.

"Our focus is on delivering a well-considered mixed-use project that provides more permanent housing options, supports local workers and businesses, and delivers an exceptional product for the local market," Williams said.

"The redevelopment vision aligns with the long-term evolution of Noosa Junction as a vibrant activity centre, creating a destination that enhances the area's character while delivering significant economic and community benefits."

Calile Malouf Investments, best known for its role in Brisbane's James Street precinct and The Calile Hotel, will bring its place-making experience to the project. The company recently commenced construction on The Calile Noosa hotel and says the residential development will complement its growing investment in the region.

CMI Director Cal Malouf said the aim was to create a walkable precinct combining housing, retail and hospitality while remaining true to Noosa's character.

"We see a similar opportunity in Noosa to deliver a vibrant, walkable destination that combines exceptional housing, hospitality and retail in one integrated project," Malouf said.

Brisbane-based Cavill Architects has been appointed to design the project.

Joel Robinson

Noosa Bowls Club to be redeveloped into mixed-use apartment precinct

One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada Australia</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada Australia's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada Australia as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada Australia files for trio of apartment towers in Campsie town centre</a>

Arada Australia entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

Staff reporter

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