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A proposed move by the Victorian government to abolish a provision allowing for the early release of deposits as part of its review of the Sale of Land Act has been criticised by industry experts.
If the provision is removed, home sellers in Victoria would struggle for early access to house deposits, making it difficult for them to purchase a new home before the sale of their old one is settled.
Industry experts said the current legislation was “working well” and its repeal would only hurt buyers and sellers, said an article in news.com.au.
“Given strong price growth in recent years, many vendors will be unable to relocate without the ability to access the deposit to fund their next home,” Real Estate Institute of Victoria chief executive Gil King was quoted by News as saying.
An options paper by Consumer Affairs Victoria said the provision was contentious and and could “cause considerable stress for buyers and seller” and needed reform.
The paper suggests to either amend Section 27 of the Act to “improve and clarify the operation of these provisions” or scrap it altogether.
The paper said the provision had created a problematic expectation that sellers would be able to access deposits before settlement.
“Real estate agents support this practice. It benefits sellers who depend on the deposit money to put towards securing another property,” the paper said.
“However, most stakeholders, particularly from the legal and conveyancing sectors, expressed concern, (highlighting) the considerable administrative burden associated with this process, and the undue stress it causes for all parties.”
But the paper does mention that scrapping the provision would force sellers to make alternative financial arrangements to secure another property while waiting on the settlement of their current one.
King said the REIV strongly opposed any changes to Section 27, as the early release of deposits allowed sellers seeking a new home to avoid “the significant additional expense” of bridging finance.
The legislation also provided adequate protections for both buyers and sellers, he said, while adding that downsizers would be among the most affected, as majority of their equity was tied up in their home.
CoreLogic state director for Victoria Geoff White said buyers currently had the power to decide whether to release their deposit early or not, meaning the provision could also help them.
“If a buyer is happy, there’s no issue. (Agreeing to release a deposit early) can even make their offer look better,” the fifth-generation agent said.
“It would be stupidity to repeal this.”
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Industry experts critical of repeal of early access to deposit in Victoria proposal

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Listing volume for Fraser Coast unit market has jumped, according to REIQ’s latest Queensland Market Monitor quarterly report.
The quarterly median house prices are typically more volatile than annual median data and this is true of the Fraser Coast market, which revealed a quarterly growth figure this quarter of 2.5 per cent, compared with a fall of 2.3 per cent in the December quarter last year.
Looking at the more consistent 12-month median house price data, the Fraser Coast has held steady for the 12 months to March 2017.
This is consistent with the 12 months to December also, where no change was recorded.
And like the house market, the unit market also experienced volatile growth on a quarterly basis, with a fall of 10.7 per cent from December to March.
However, looking at the more reliable annual data the Fraser Coast unit market grew 1.2 per cent, from $247,000 in March 2016 to $250,000 in March 2017.
The Fraser Coast has become the region with the largest percentage of houses (13.5 per cent stock of market) and units (18.9 per cent stock of market) listed for sale for the 12 months to February 2017.
This region is suffering from a dearth of funded infrastructure and investment projects that proliferate throughout other regions in Queensland.
Good news on the horizon, however, with the proposed $300 million Colton Coal mine near Maryborough, which was granted three mining leases in early May.
Once the mine reaches operational stage, it is expected to create about 120 jobs for the region and boost economic development.
The Fraser Coast could also become the renewable energy capital of Queensland over the next five years.
The Eco Energy World Australia project proposes to build a $280 million renewable energy facility at Aramara.
This project is expected to generate 150 jobs during construction and 11 part-time jobs when operational.
The housing market has remained steady over the past 12 months, reporting an annual median sale price of $307,500 for the March quarter.
Over the medium term, the annual median sale price recorded a modest growth of 7.9 per cent from $285,000 for March 2012 to $307,500 for March 2017.
The largest volume of transactions was below $350,000.
The volume of sales remained relative steady in the September and December quarters.
Preliminary data shows a reduction in the number of sales over the March quarter.
<a href="https://www.propertyobserver.com.au/images/2017/06/16/Screen%20Shot%202017-06-16%20at%2011.09.05%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/2017/06/16/Screen%20Shot%202017-06-16%20at%2011.09.05%20am.jpg" alt="">
However, this is still subject to review to reach a meaningful conclusion.
Following the state-wide trend, listings increased in the Fraser Coast, up by 52.4 per cent from 3352 in February 2016 to 5107 in February 2017.
This resulted in a rise in the volume of stock on the market, up 4.6 percentage points to 13.5 per cent.
Median days on market and median vendor discounting recorded a modest improvement.
A house takes about 84 days to sell with a discount of 5.9 per cent for the 12 months to February 2017..
The annual median unit price increased 1.2 per cent, from $247,000 in March 2016 to $250,000 in March 2017.
Over the medium term (five years), the unit market has fallen 11.1 per cent with the annual median price dropping from $281,150 in March 2012 to $250,000 in March 2017.
The most active price range is for transactions below $250,000.
<a href="https://www.propertyobserver.com.au/images/2017/06/16/Screen%20Shot%202017-06-16%20at%2011.09.13%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/2017/06/16/Screen%20Shot%202017-06-16%20at%2011.09.13%20am.jpg" alt="">
The volume of sales increased 12.2 per cent over the December quarter, from 82 sales in September to 92 sales in December.
The listings volume jumped 73.6 per cent, from 497 to 863 for the past 12 months.
The amount of stock on the market rose to 18.9 per cent.
This positions the Fraser Coast as the region with the largest percentage of units for sale in Queensland.
Median days on market and median vendor discounting fell slightly over the past 12 months, reaching 87 days and 5.8 per cent in February 2017.
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-qld-pialba-123913050" target="_blank">9/63-65 Hillyard Street</a>, Pialba (above) has been listed from $230,000.
The property was last sold in 2007 for $192,500 and again in 1993 for $94,000.
Similarly a three bedroom unit at <a href="https://www.realestate.com.au/property-unit-qld-maryborough-125245114" target="_blank">6/268 Ellena Street</a>, Maryborough (below) has been listed for $199,000.
It last sold in 2007 for $200,000, in 2004 for $163,000 and in 1999 for $90,000.
<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/2017/06/16/6_268%20Ellena%20Street.jpg" alt="">
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Unit listing volumes in Fraser Coast jumps

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An original 1872 bluestone house at Shelford has been listed for $2.85 million.
Located at <a href="https://www.realestate.com.au/property-house-vic-shelford-125233702" target="_blank">31 Mercer Street</a>, The Manse sits on 26 acres of land. Geelong is 25 minutes away while Melbourne is one hour’s and Ballarat only 35 minutes.
It was designed by architects Davidson and Henderson in the early 1870s and has its original character restored.
Recent extensions has been made to the property and it has views of the valley and countryside.
Floor layout includes an office or meeting room, formal lounge, main bathroom, wine cellar and powder room.
Three bedrooms all have their own wardrobes while the master bedroom has a bay window, its own ensuite and large walk-in robe.
The kitchen features 900mm Falcon Classic oven plus 600 Bellinger Classic oven, Caesar Stone bench tops, in-built double fridge, island bench and dishwasher.
<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/2017/06/26/31%20Mercer%20Street-2.jpg" alt="">
A fully self-contained guest house is also available and features its own bedroom, bathroom, lounge, gym, kitchen and study room.
Other features includes triple garage, landscaped gardens and paddocks.
It has been marketed as suitable for farming uses.
The property is offered through Jodie Bliss Real Estate agent Jodie Biss.
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Original 1872 Shelford house, The Manse, listed for $2.85 million

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An architecturally designed Melville, WA house has been listed for $1,099,900.
Located at <a href="https://www.realestate.com.au/property-house-wa-melville-125208194" target="_blank">1C Williams Road</a>, the property offers views of the city, river and much more.
The ground floor has a foyer with glass canopy and commercial glazing along with a small space for living including an ensuite bathroom and study nook.
There is also an ensuite on this floor as well as undercover parking for up to five vehicles.
First floor is the large open plan kitchen with 80mm thick stone bench top, series 8 Bosch appliances and skylight.
The lounge is also on this floor and has its own fireplace and handcrafted artisan marri mantle piece.
There are two outdoor areas, one balcony and alfresco area.
<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/2017/06/26/1C%20Williams%20Road-2.jpg" alt="">
A lap pool is also available as well as powder room.
Second floor has  the master bedroom with its own ensuite, walk-in robe with Juliet balcony and views f the surrounding landscape.
The second and third bedrooms also have their own ensuite.
The rooftop viewing deck has been designed to accommodate 25 people at any one time.
The property is offered through Coakley &amp; Martin Estate Agents Warwick Airey.
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Architectually-designed Melville house listed for sale

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Canberra’s Capital Executive Apartment Hotel has changed hands for the first time in 22 years in a complex deal that has involved a large-scale unit buy-out.
The sale to Madison Hotel Group will see the property undergo extensive refurbishment before relaunching under their new brand as Madison Suites Canberra.
The group, run by family business partners Brett Morgan and Beverley Clench, purchased the management rights to the 87-unit apartment hotel on Northbourne Avenue along with 36 freehold units, which the vendor had acquired over a number of years.
Negotiated by Resort Brokers Australia on behalf Stanbritt Pty Ltd, headed by long-time director and sole proprietor Jim Stanwell, the sale was handled jointly by broker Russell Rogers and managing director Ian Crooks.
Mr Rogers said the sale took almost 12 months to conclude as it hinged on Madison Hotel Group also seeking to buy the balance 51 units in the building from individual investor owners.
“In the end, they have independently secured 48 of the other units, which allowed their purchase from the proprietor to be finalised,” he said.
“So it was a very satisfying result, particularly as Canberra is one of Australia’s most tightly-held accommodation markets.”
Resort Brokers Australia declined to disclose the sale price.
Madison Hotel Group, which owns a number of properties in Canberra, Sydney and regional NSW, operates both short-term and permanent residential accommodation businesses.
They also own the Chifley Plaza Hotel in Townsville, North Queensland, which is now being refurbished for planned rebranding as Madison Plaza Townsville.
Resort Brokers’ Ian Crooks said the unusual “hybrid” Canberra sale would see the Capital Executive Apartment Hotel revert from a management rights operation to a more traditional hotel-style establishment under largely single ownership.
“It is a prime property on a large 2,040 square metre corner block in Canberra’s major tourism and accommodation precinct, five minutes’ walk to the CBD,” he said.
“It has been consistently recording occupancy rates over 80 per cent, and there is strong potential to further grow the business.
“The buyers are experienced operators who will usher in a new era for the property, with refurbishment starting immediately.”
Accommodation is a mix of studio apartments and one-bedroom spa suites, while facilities include a business centre, gym, sauna, two spa pools, 24-hour undercover security parking, and an onsite licensed restaurant (outside operator).
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Canberra’s Capital Executive sells for first time in 22 years

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When does the duty exemption for NSW first home buyers apply?
The exemption for first home buyers will apply to contracts executed on or after 1 July 2017 for properties up to $650,000.
For properties valued between $650,000 and $800,000, duty concessions will apply.
Are there any changes for vacant land?
There are no changes to the cap for vacant land.
Does this apply only to new homes?
No, the exemption applies to new and existing homes purchased by first home buyers.
Does the 1 July 2017 date refer to the date the contracts were exchanged or settled?
The 1 July 2017 date refers to the date the contracts were exchanged.
Does a first home purchase refer to a first investment home purchase or the first owner-occupied home purchase?
First home purchase refers to the first home you purchase which you must occupy for a continuous period of 6 months, commencing within 12 months of settlement.
I have just settled, what can I do to get the benefits?
If you settled before 1 July 2017, you are only entitled to the benefits that were available at that time. Please check our website for more information.
Can I rescind the contract and enter into a new contract after 1 July 2017 and get the new benefits?
As your contract is already executed, you are liable to pay duty. If you rescind and enter into the contract for the same property after 1 July 2017 you will not be eligible for the new benefits.
My client has just exchanged contracts and is in the cooling off period. Can we rescind under the cooling off provisions and re-exchange later?
As your contract is already executed, you are liable to pay duty. If you rescind and enter into the contract for the same property after 1 July 2017 you will not be eligible for the new benefits.
My contract is dated before 1 July 2017. Are these changes retrospective?
No, the changes to the First Home Buyers Assistance scheme are not retrospective.
Does this mean yet another form? Will we need to complete another Declaration or a Statutory Declaration?
No additional forms are anticipated at this stage. However some existing forms will need to be modified and in the case of the new scheme the old form will be replaced with a new one.
If the parties entered into a Put &amp; Call option before 30 June 2017 to be exercised after 30 June 2017, would the purchaser be able to claim the exemption (or reduction as applicable) or would the Option be the determining date?
If the exercise of the option occurs on or after 1 July 2017, you will be able to claim the new exemption or reduction.
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The NSW first home buyers July 1 countdown

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One Airlie is a new development in the Whitsundays region, one of Australia’s premier holiday destinations.

It is a gated community of 12 residences with landscaping.

[smartcode_project:default project_id=90071]

The land offerings are between 727 sqm to 2242 sqm.

They are now offered from $695,000 with waterfront lot prices starting at $1,095,000.

The civil works at One Airlie, adjacent to the Whitsunday Sailing Club, have begun.

<img alt="" src="https://www.urban.com.au/images/2017/06/22/Picture-2.jpeg">

Some 10 residents will have ocean frontage.

Activities such as sailing, swimming or diving are all possible nearby. Located on the mainland, just east of Airlie Beach's main street, One Airlie also puts you at the gateway to more than 74 Whitsunday Islands and the Great Barrier Reef marine park.

Airlie Beach is due to experience significant growth and will become a ‘hotspot’ of coastal real estate now that major tourism infrastructure investment has been fast tracked, according to local PRD Whitsunday Principal, Christie Leet.

For more information <a href="https://googleads.g.doubleclick.net/pcs/click?xai=AKAOjsuRR05c7g2j_JynBJH9zAW7W5F9n2F8JzTuvPFA2xl2qsijxoegSi5se_Lg3zfwoXxS07Kw92XJeLN1Xaj6jeYmv8NwVpPUqs5mqkZHgv29bbH4T_Sze0u2dDF-L0f0zNLFWodmoba7mqVcpfqVInDAcA70jGUUINpo3kjF9gGKzV_nN7s-vDpZFtciBMNx6Cex8hx6kqNGoYlCVcOBmGY8Z0kO2f2_V3oH03xzATN1QB5_NPDBvda7jufiZhkjDz5JI9N9MzKXmv8&amp;sig=Cg0ArKJSzFJswJ7UEX1B&amp;adurl=https://oneairlie.com.au/&amp;nm=5&amp;nx=163&amp;ny=-301&amp;mb=2&amp;clkt=99" target="_blank">click here.</a>

[smartcode_project:default project_id=7854]
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Whitsundays' One Airlie building blocks now available from $695,000

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Cheques are so yesterday, and even the hallowed institution, the Reserve Bank of Australia has acknowledged their coming demise.
Paper cheques could perhaps even soon warrant a historical feature alongside the shillings, pence and pounds currency display at the RBA's Martin Place headquarters.
In 1980 cheques made up 85% of all non-cash payments.
Fast-forward to 2016, cheques made up about 1% of the number of non-cash payments, and about 7% of the value of such payments, said the RBA bulletin.
Cheques have long been integral in buying property - both the deposit at the weekend auction, plus the full amount on settlement.
Last year financial institution cheques made up only 9% of the number of cheques written, but accounted for over half of the value of cheques given pricey property acquisitions and related transactions such as the payment of stamp duty. 
The bank produced a chart which shows the issuance of cheques closely correlated with property market transactions. 
These financial institution cheques are also often used for the private sales of cars and are also still used widely for rental bonds. 
Recently, Macquarie Bank announced it was testing a DEFT Auction Pay system that allows buyers to pay their deposit electronically.
The new system allows buyers to do away with the chequebook at auctions when paying a deposit.
Electronic conveyancing is coming too.
The number of settlements transacted is still moderate in the paperless conveyancing scheme, and much relates to refinancing rather than property sales.
The paperless push is lead by GlobalX CEO Peter Maloney who recently noted almost $40 billion worth of property transactions have gone through the platform.
There were around 20,000 PEXA-related property settlements, including refinancing, in the March quarter 2017, some three years into the scheme, Reserve Bank data shows.
This compares with about 120,000 sales transactions in the national housing market in the same period.
The New South Wales government has a commitment to a complete digital property exchange by July 2019, though lawyers and conveyancers are proving to be the biggest roadblock, a recent survey by legal search provider InfoTrack found.
“The results are disappointing and clearly demonstrate that lawyers in the real estate sector must overcome their long-held resistance to new technologies,” says InfoTrack chief executive John Ahern.
The traditional paper-based systems are set to be replaced by the PEXA electronic conveyancing system – currently the only e-conveyancing system available for use in Australia - which appears to has to date failed to attract significant industry support due to concerns over its security, cost and efficiency.
There ought be enormous time and cost efficiencies in moving to digital platforms, however currently entrenched 19th century thinking is costing consumers. 
The NSW Legislative Impact Study indicated that a 13-year uptake period was expected.
This article first appeared in The Daily Telegraph.
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Cheque-ing in on the state of paper property transactions

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There is no need to get spooked out by the recent talk about Australia’s housing market bubble set to burst, especially after CoreLogic data pointed to prices dropping, but rather it maybe that the market is taking a breather, says a leading industry executive.
The CoreLogic data that came out last week showed a slight dip in prices. But most of the headlines were about two cities: Sydney and Melbourne, says Mark Bouris, the executive chairman of wealth manager Yellow Brick Road.
“We need to remember that prices have been going gangbusters there for more than five years,” he said in a column in Fairfax Media.
Also, Australia is a patchwork of very different markets. In May, prices rose in Brisbane and Adelaide, while values in Perth and Darwin fell. 
“And that doesn't take into account all the regional areas, where things such as employment and infrastructure have a big impact on housing prices,” adds Bouris.
“If you only read the headlines, it's easy to get spooked about property. But based on the latest data, we aren't talking about a bubble bursting or prices falling off a cliff – we're seeing the market take a breather. After all, it's been running at full tilt for a while now.”
For owner-occupiers, the implications could be that if there has been good capital growth and then one might want to tap into your home equity to buy another property.
Some lenders have pulled back on investor loans, thanks to pressure from the banking regulators, but the tap hasn't been turned off altogether, he says.
“The key is to be sensible. Think about "serviceability" – making sure you have the income to cover an investment loan, especially if it's negatively geared.
“And don't overextend by getting the biggest loan possible – choose something you can still afford if interest rates increase or rental income flatlines.”
For investors, a “less frothy market” means the need to look harder for the right property, he advises. 
One needs to pay close attention to the fundamentals such as the area’s supply and demand for housing.
“Supply is one half of the equation, so look at things such as development application (DA) approvals to see how much is in the pipeline.
“On the other hand, demand is influenced by population growth and where jobs are coming from – so make sure it's an area people want to be in,” he adds.
A lot of this data is publicly available using sources such as the Australian Bureau of Statistics. 
“Think of it as a business decision and do your homework properly.”
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Property market taking a breather: Yellow Brick Road's Mark Bouris

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Buyers are snapping up the apartments in Modulus, located at 1 Birriga Lane, Bellevue Hill, with 60% sold and only two five-bedroom penthouses remaining.
The property will seek to achieve the Green Building Council of Australia’s 6 Star Green Star rating upon completion – the first multi-residential building in the country to attempt to do so in combination with a PassivHaus rating.
The super-eco-friendly property features next-level technological advancements with a boutique, luxury feel, and has a hugely futuristic appeal for environmentally-friendly and health-conscious buyers who are looking to achieve that next level of holistic yet luxurious living in one of the most sought-after locations in Australia.
Modulus is surrounded by sustainable, edible gardens with rainforest species framing outdoor terraces and palms filtering neighbours’ views.
Only the penthouses remain available, priced at between $6.6 million and $6.8 million.
The two bedrooms were offered between $2.3 million and $2.4 million and the three bedrooms were priced between $3.85 million and $4.5 million.
Knight Frank’s head of prestige residential sales, Australia Deborah Cullen and sales executive, prestige residential sales, Australia Richard Sholl are marketing the property on behalf of behalf of Modulus Luxury.
According to Cullen, this type of property is becoming increasingly sought-after in the luxury market, with sustainability one of the foremost topics in buyers’ minds.
“Modulus offers the trifecta for purchasers – location, technology and sustainability, and luxury.
“It is positioned in Sydney’s highly sought-after Eastern Suburbs, close to Bondi Beach and the CBD; features superior technology and sustainability features; and is beautifully, architecturally designed to improve health and wellbeing.”
According to Rajesh Nellore, Modulus luxury managing director, Modulus is designed with next-level technology from the clean tech industry.
“We support research, development and investment into sustainable living,” said Nellore.
“Today, buildings account for 40 per cent of global resource use.
“To make matters worse, building developers often tap forests and other resources in a way that depletes them, harms biodiversity, and generates pollution.
“Modulus is designed with ultimate eco-friendly waste and energy management in mind, and is part of a new generation of ‘smart homes’.
“Even the materials used to build the property were developed using materials that aim to minimise environmental impact, including the depletion of resources, impacts on bio diversity, greenhouse emissions and toxic waste.
“Modulus has an intelligent control system that directs the electricity produced by solar energy.
“To sustain residents’ good health, the apartments facilitate excellent natural ventilation and can also pump additional oxygen into homes while occupants are sleeping.
“Building materials are also selected to maintain healthy indoor air quality.”
Modulus features PassivHaus, a high-performance building design, with high levels of sustainable infrastructure and insulation – creating consistent internal thermal comfort without input from active heating or cooling systems.
It has sophisticated active and passive air conditioning systems, allowing the house to operate in three different modes of comfort conditioning.
Modulus features a ‘green roof’ partially covered with plants, offering numerous advantages, including a natural habitat for birds; storm water runoff reduction; and a filtration system for rainwater.
The ’green roof’ also serves as a meditation centre with meditation pods, decreasing stress through tranquillity.
For more information, visit <a href="https://www.propertyobserver.com.au/modulusluxury.com" target="_blank">modulusluxury.com</a>.
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Bellevue Hill apartment development Modulus quickly snapped up by buyers

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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