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The clearance rate for property sales last weekend was 67% as racing’s Spring Carnival grabbed the spotlight.  
Across Melbourne, agents conducted 192 auctions with 95 properties sold at the drop of the hammer, 32 sold before and two sold afterwards. On top of these, 63 houses were passed in – 38 on vendor bids.  
There were also 506 private sales.
Total sales volumes for the auctions was $70.96 million and $246.91 million for the private sales.
Breaking the figures down further, 127 houses were auctioned for a clearance rate of 69%. The median price was $561,800 and the total value was $50.57 million.
Fifty-seven auctions of flats and apartments achieved a clearance rate of 68%. The median price was $506,000 and the total value was $19,384,000.  
Seven vacant land auctions achieved a clearance rate of 14%.
House sales in detail:  
TOP 5 HOUSES
{yoogallery src=[images/stories/2013/11/07/can]}
1. 13 Church Street, Canterbury $1,650,000 (pictured above)
2. 164 Nicholson Street, Fitzroy $1,450,000
3. 1 Morphett Avenue, Ascot Vale $1,120,000
4. 218 Station Street, Carlton North $1,042,000
5. 38 Oakpark Drive, Chadstone $1,030,000  
 
TOP 5 BARGAIN HOUSES
{yoogallery src=[images/stories/2013/11/07/dal]}
1. 26 Drouin Street, Dallas $277,000 (pictured above)
2. 99 Third Avenue, Rosebud $311,000
3. 396 Station Street, Lalor $312,000
4. 9 Mirang Court, Frankston $312,000
5. 14 Bacchus Drive, Epping $316,500
 
TOP 5 APARTMENTS
{yoogallery src=[images/stories/2013/11/07/mel]}
1. 1005/480 St Kilda Road, Melbourne $885,000 (pictured above)
2. 13A Andrews Street, Spotswood $830,000
3. 2/34 Evans Street, Moonee Ponds $765,000
4. 12/3 Rockley Road, South Yarra $750,500
5. 15 Hockey Lane, Ascot Vale $615,000  
 
TOP 5 BARGAIN APARTMENTS
<img alt="glen-waverley-nov-7-one" src="/images/stories/2013/11/07/glen-waverley-nov-7-one.jpg" height="353" width="470">
1. 123/270 Springvale Road, Glen Waverley $306,000 (pictured above)
2. 3/113 Noble Street, Noble Park $330,000
3. 1/201-209 High Street, Prahran $330,000
4. 108/8 Pottery Court, Brunswick $347,000
5. 3/246 Gilbert Road, Preston $390,000
 
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This week's most expensive and most affordable Melbourne auctions

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A surging Sydney property market could spoil the RBA’s New Year as it seeks to dampen demand for housing but not jeopardise the success of its low rates policies on the broader economy.
With this scenario comes another conundrum: If the bank does have to raise rates for this reason how will it continue its push against the unwelcome effects on exports of a high Aussie dollar?
RP Data national research director Tim Lawless told the Australian Financial Review that he expected the RBA to ‘’remain vigilant’’ – especially in regards to the Sydney and Melbourne property markets -where prices are rising faster than in other cities.
SQM Research director Louis Christopher was reported as saying the number of ‘’enthusiastic buyers, particularly in Sydney, was behind the shortage of housing stock on the market’’ compared to this time last year. He said Sydney’s stock levels were down a ‘’staggering’’ 17.3%, although traditional spring listings are belatedly coming onto the market.
‘’Will (the RBA) allow Sydney to gallop into 2014?’’ he asked. ‘’It will be interesting to see how they respond.’’
Analysts were not surprised at the central bank’s decision to hold rates at 2.5% after eight cuts in the past two years. Lawless said the low rates had had the desired effect of stimulating the housing market.
‘’Transaction numbers are close to 20% higher compared with a year ago and dwelling values across our combined capitals index have risen 7.9% over the past 12 months,’’ he told the AFR.
He said more buyers on the market were encouraging more housing construction, and that the RBA was comfortable with the level of capital gains in the housing market. ‘’The current rate of growth is well below the highs achieved over previous growth cycles and dwelling values across every capital city, apart from Sydney, remain below their previous peaks.’’
 
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Surging Sydney property market could spoil RBA's New Year

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The first new residential development in 40 years will allow investors to capitalise on the annual 19% house price growth at WA mining town, Tom Price.  
The Crawford Property Group has released six off-the-plan houses with three bedrooms and two bathrooms which are being marketed to attract the town’s residential workforce.  
The $759,000 houses, at 327 Warara Street, are expected to be completed next month. Demand from investors has been strong, with the six-property first stage of the development already sold out and another six to go in the second stage.  
Crawford suggests the houses could achieve yields of up to 15% with zero vacancy rates. They are expected to lease from $2,100 to $2,200 per week and are among two new developments in the town.  
Nicheliving Constructions – winners of the 2012 MBA award for Excellence in Building Innovation – will build the highly energy and acoustically efficient houses as full turn-key packages. They will have quality fixtures and fittings, open plan kitchens, dining and lounge rooms and hidden laundries. Bedrooms will have built-in wardrobes and the main bedrooms will have en suites.  
"Tom Price is a highly lucrative market but, until now, it has been fairly inaccessible to investors," said director Ryan Crawford. "It plays an integral role in Rio Tinto’s and FMG’s iron ore operations in the area and the increasing workforce has helped the population to double to 5400 in just six years.  
"However, until 2011, there had been no new land releases or residential development for nearly 40 years."  
Pressure on housing has raised prices, and the 10 year average annual house price growth rate is 19%. In this, Tom Price’s performance has been consistent with other Pilbara towns, but a lack of new supply has restricted investor access.  
Crawford says the development takes advantage of the town’s zero vacancy rates, higher than average rental returns and strong predicted capital growth.  
"And, with both Rio and FMG ramping up production and flagging possible expansions, the projected continued workforce increase means pressure on house prices and rental accommodation is expected to remain strong."  
A Regional Development Australia report says Tom Price had a dwelling shortfall of 259 homes in 2012 and will require between 271 and 471 new homes by 2015.  Only 37 residential lots were released in 2011 and no further land releases have been announced.  
At 747 metres, Tom Price is the highest town above sea level in Western Australia. The resources boom has helped it become the most affluent non-metropolitan region in Australia, with the average Rio Tinto employee's wage being significantly higher than the Australian average.  
The median age of 29 reflects Tom Price's relatively young family-oriented community. The town is named after Thomas Moore Price, vice-president of the US based Kaiser steel company. It is the closest town to Karijini National Park and is serviced by the Paraburdoo Airport.        
 
 
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Tom Price gets set for first residential development in 40 years

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Lower interest rates and surging property markets – particularly in Melbourne and Sydney – are helping loan providers reap rewards.
Aussie Home Loans last month reached the $2 billion milestone in home loans lodged through its three distribution channels: mortgage brokers, retail outlets and aggregator subsidiary National Mortgage Brokers (nMB). The group’s 150 retail stores broke through the $1 billion milestone for the month in loans provided to new buyers, re-financers and investors.
The $2.1 billion group result for October represents a 22.1% lift above October last year. The news was reported in Australian Broker Online.
This follows news that <a target="_blank" href="/news">more than $4 billion in home loans was processed last month by AFG</a>, Australia’s largest mortgage broker – the first time its national 1,900 brokers have collectively broken through the $4 billion mark.
The $4,057 million figure is 12% higher than the $3,624 million processed the month before, which was itself a record. The October 2013 figure is 30% higher than October last year, and 61% higher than October 2011, showing how far the mortgage market, and broader economy, has recovered over the past two years.
Aussie chairman and founder, John Symond, says the retail result is a standout, as Aussie only established a substantial retail arm following the acquisition of Wizard Home Loans in 2009.
“This result is due to the hard work of the entire Aussie Group and demonstrates that volumes are returning to a more healthy market condition as buyers take advantage of low interest rates,” he said.
On the back of the growth, Aussie is on the expansion trail with a recruitment drive for former real estate and finance executives to become mobile brokers and franchisees of new stores.
“We’ve seen substantial growth across our three distribution channels and are keen to find new brokers and franchisees to join our successful and winning team”, Symond said.
Aussie’s total loan portfolio is worth $57 billion, including aggregator nMB, which was acquired by Aussie in 2012.
“All three of our distribution channels are firing and we see no reason for our growth to slow, as interest rates continue to bump along the bottom and our operations are becoming more efficient and effective in servicing our new and existing customers.”
Meanwhile, mortgage delinquency rates in excess of 30 days in the Australian prime residential market dropped to 1.35% in August, down from 1.39% in July, according to Moody’s Investors Service’s Global Structured Finance Collateral Performance Review.
However, the August figure is up from the same time last year (1.24%), but analysts remain optimistic, says Australian Broker Online.
“Looking ahead, we expect the performance trends witnessed to date in 2013 to continue with stable delinquencies, underpinned by expected GDP growth of 2.0% to 3.0%, the current low interest rate environment, and a steady unemployment rate of 5.0% to 6.0%” says Jennifer Wu, vice president and senior credit officer at Moody’s.
The report says Australian prime 60-day-plus arrears in August, at 0.76%, also compare favourably to all economies covered in the report, except for Japan’s (0.29%).  
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Aussie Home Loans joins AFG as loan providers reaping the rewards of low interest rates

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First home buyers are struggling to buy property because of a lack of savings, not because of competition from property investors, according to a survey by mortgage broker Loan Market. 

 
In an online survey, its 450 brokers were asked: ‘What is the No.1 issue keeping first home buyers out of the market. 68% of brokers blamed low deposits and savings and 21% blamed a lack of government incentives. 

 
Loan Market director Mark De Martino said that with the property market running hot, first home buyers were competing with other buyers armed with equity and savings. However, with the right preparation and guidance, first home buyers could level the playing field, he said. 

 
“The biggest disadvantage most first home buyers have is they’re often younger and haven’t had the same amount of time to build up equity and savings as those purchasing their second or third homes,” De Martino said. 

 
“What first home buyers need to do early is save for a deposit. A larger deposit doesn't necessarily mean you can borrow more and buy a bigger property, it means you can have equity in your home from day one and also avoid loan costs like lenders mortgage insurance,” he said.  

 
De Martino said most first home buyers at Loan Market were meeting with a mortgage broker before they started inspecting properties. This means they can understand how certain loan products work and the savings they can make if they have a bigger deposit. 

 
“A variety of loan products benefit first home buyers, however, they aren’t all equal and depend on your savings level. The product you initially thought was for you, may not be as competitive if your deposit size changes,” De Martino said. 

 
De Martino stressed the importance of first home buyers getting pre-approval for a home loan before they start their property search. 

 
“Pre-approval gives a first home buyer the confidence to attend an auction and bid on it with the peace of mind that they can afford the property and the repayments,” he said. 

 
Only 6% of the brokers surveyed said property investors were the main reason first home buyers were being kept out of the market. 

 
“Property Investors certainly have the benefit of existing equity in their home and certain tax advantages. First home buyers can best compete with them by building up their savings and deposit sizes,” De Martino said.  
 
 
 
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Savings holding back first home buyers

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AMP Capital Markets chief economist Shane Oliver expects the Reserve Bank to leave interest rates on hold today, with some positives – such as HIA figures showing an improvement in the housing market and in new home sales - pointing to a rise in market confidence.
"There are signs the jobs market might be bottoming out, yet CPI inflation figures are a bit higher than expected - although they are in the mid-point of the target range," he said.
"There’s not enough evidence for a cut so the reserve will sit on its hands next week. It’s more likely we’ve seen the bottom of the rate cuts cycle and, in a year’s time, we may be going the other way. The housing industry is a good bellwether for all this and, with it rising, the scene looks a whole lot better."
Oliver said variable interest rates took their lead from the cash rate whereas fixed rates were affected by other factors, such as Commonwealth government bonds, which have been rising over the past year to just over 4% now. This has increased the banks’ long-term borrowing costs.
He said it was always the case that historically low interest rates "were never going to be sustained". As long term bond rates go up, banks lending at fixed rates over, say, three years would be faced with the prospect of being caught by a rise in the official cash rate, pushing up interest rates and making their loans unprofitable.
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Shane Oliver predicts RBA to leave interest rates on hold

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A lifting of fixed-term mortgage rates by the big four banks has startled the market.
Pre-empting the Reserve Bank’s regular monthly meeting next Tuesday, the Commonwealth Bank, NAB, ANZ and Westpac each raised some of their rates, possibly in response to higher borrowing costs on the wholesale market.
The Commonwealth’s three-year fixed term rate remains steady at 5.09%, while its four-year fixed rate rose 0.20% to 5.74% and its five-year fixed rate also rose 0.20% to 5.84%.
Westpac’s three-year term rose yesterday from 4.99% to 5.19% while its four-year fixed rate is steady at 5.49% and its five-year fixed rate is also steady at 5.79%.
National Australia Bank lifted its fixed term rates on Monday: Three years fixed rose 0.20% to 5.19%; four-years fixed is steady at 5.64% and five-years fixed rose 0.24% to 5.79%.
The ANZ raised its three-year fixed rate from 5.14% to 5.34% on Friday. It did not change its four or five-year fixed rates. A staffer said rates "could go up or down depending on what’s going on in the market".
Neither IngDirect, Bankwest, St George or UBank had made any changes, staffmembers said.
Buyer’s advocate Todd Hunter, of the wHere Group, said he had put out a notice to alert his clients to the rises, which may have been prompted by the banks "Probably not being able to find money as cheap anymore".
"This is probably the right time to fix," he added, saying rates – even after the rises – are "still looking very attractive". He recently locked in his loans at 4.99%.
"Money is still cheap and anything under 5.5% is extremely low and you’ll be doing well."
Although he "can’t foresee any dramatic movements in the variable rate", Hunter admitted he is not sure what the market is going to do next. "It’s safer to wait until after Tuesday’s meeting. But if the big four go up it’s a sure bet the smaller banks and building societies will follow."
One thing’s for sure, if the Reserve Bank on Tuesday does cut mortgage rates, the banks which raised their rates will look greedy, even though fixed rates are usually higher than variable rates.
Hunter said average variable rates over the past 10-15 years were in the mid-sixes "although there have been plenty of ups and downs in the meantime".
One reason the Reserve Bank may hold rates is concern over unemployment, currently sitting at 5.6%  according to the Australian Bureau of Statistics. The participation rate, which is the proportion of people in work or looking for work, fell to 64.9%, the lowest level since November 2006.        
Jessica Darnborough, of Mortgage Choice, said she expected a few more rate movements across the board but "only slightly" and not in November.
"The yield curve was at historic lows recently but it’s now on the way back up so we may see more movements in the fixed arena."
Although not into "crystal ball gazing" Darnborough said she would be surprised if the RBA raised rates on Tuesday. However, fixed rates are affected by other external factors and she sees a "little bit of a trend" for upward movements in that category.
Optimistically, she said: "The banks are still competing for market share, so we may see downward movements against trend."
The banks’ three-year fixed term is said to be the most popular.
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Big four banks lift rates, startle the market

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Public and private investment for Fremantle is edging towards $1 billion - thanks to what the city believes are sensible amendments to its town plan.
This has pleased the Property Council of Australia, which says the revised scheme allows for greater density in key locations in the CBD and with developments currently in the pipeline. These include the flagship Kings Square project - more than 22,000 square metres of A-grade office space and more than 11,500 square metres of retail space expected to be built within five years.
Other uses are in the mix, including residential, hotel and short-term accommodation, entertainment and civic spaces.
The council said that, in recent years, there have been more development application approvals and building approvals in Fremantle than in any equivalent period since 1987.
Fremantle’s mayor, Dr Brad Pettitt, said the aim of revising the plan was to ‘’bring more people back into the heart of our city to live, work, shop and to be entertained”.
The city set about addressing the low levels of investor interest in Fremantle via an award-winning economic development strategy finalised in 2011. The strategy outlined ‘’ambitious but achievable’’ targets for the development of residential dwellings, as well as commercial office and retail floor space in the CBD.
Pettitt said that, while there was still a lot of work to do, there was now a good level of interest from investors and plenty of projects under construction.
“I’m more confident than ever that Fremantle is on the cusp of a generational change which will produce the sort of high-quality sustainable infrastructure that our community needs and deserves,” he said.
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Fremantle investment edging towards $1 billion, city thanks town planning amendments

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Gladstone Regional Council will receive $12.5 million from the Royalties for the Regions program to upgrade the Kin Kora roundabout.
The Deputy Premier and Minister for State Development, Infrastructure and Planning, Jeff Seeney, said the funding would go towards upgrading the roundabout to a four-way signalled traffic intersection.
“Gladstone has experienced significant growth as a result of new residents servicing the resources sector, which has caused traffic congestion to worsen,” Seeney said.
“This project will address traffic congestion and improve safety at the junction of Philip Street and the Dawson Highway.
“The entire project will cost around $25.4 million, and Royalties for the Regions will inject $12.5 million.”
Seeney has championed the Royalties for the Regions program designed to give communities a fair share of royalties from resources for the first time. It is used to improve local amenities and services.
“I am proud of the program, as well as the Newman Government, for helping local governments and regional communities manage the impacts of rapid growth in the resource sector,” he said.
Gladstone Council will submit a business case for the project to have the funding confirmed by the end of the year.
Royalties for the Regions will spend $495 million over the next four years on community infrastructure, roads and flood works.
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Gladstone to receive $12.5 million from Royalties for the Regions

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Geelong didn’t win the AFL premiership like it often does, and a spate of well established companies have been shedding hundreds of jobs over the past 12 months, but there’s no dampening the city’s enthusiasm or prospects for growth.  
Property prices are holding, and new companies are establishing, such as the first stage of the disability care agency for the National Disability Insurance Scheme, in July. The state government will spend around $300 million on the scheme to employ around 300 people by 2016 plus another 150 at the regional Barwon office.  
And Epworth HealthCare and Deakin University are building a 394-bed joint teaching hospital at Waurn Ponds with 1,100 effective full time positions and around 1,000 construction jobs.  
So, things are certainly not all doom and gloom.  
{yoogallery src=[images/stories/2013/10/29/gee]}
Photos: <a id="yui_3_11_0_3_1383023778610_916" href="https://www.flickr.com/photos/sondyaustin/">Sandy Austin</a>/flickr
Dr Andrew Wilson, senior economist for Australian Property Monitors, describes Victoria’s second largest city as a "great survivor" well able to handle economic ups and downs. "Geelong has kept its head up, and, overall, employment prospects remain good despite concerns about manufacturing – such as the closure of Ford.  
"There are lots of advantages in living there: Geelong’s the gateway to the ‘sea change’ lifestyle, it’s far less expensive that Melbourne, and those that choose to commute to Melbourne offset that against the more relaxed lifestyle there.
"Even the closure of Ford could be a strength: the government will no doubt provide assistance for the local economy and Avalon will become Melbourne’s second international airport providing jobs and possibly more manufacturing."  
"Demand for real estate in the seaside city has ‘’never looked better," according to local Barry Plant agent Tim Palioudis. "At the moment the market is the best it has been in a long time."
Palioudis, a director for the past three years, disagreed that job losses were a catalyst for a depressed property market. "Job losses can seem a lot worse than they really are," he said. "People often move to different areas of a company when one part closes down, but that doesn’t show up in the headlines."  
Median prices for Geelong are around the high $300,000s for an average three-bedroom house on 600 square metres. Median unit prices are in the low-to-middle $300,000s.  
Prices for those in better areas, such as Newtown - "our Toorak" – start at $600,000 for a renovated terrace house and can go well above $700,000. The age of houses is no deterrent, with 80 and 90-year-old Victorians and Edwardians attracting strong buyer interest.  
Palioudis said growth areas included the old golf course in North Geelong which has been subdivided, as well as Hamlyn Heights and Herne Hill which have views of the bay.  
He said Geelong had multiple demand factors, including the expansion of Deakin University, tourism, the bay, affordable housing in comparison with Melbourne and proximity to the capital.  
Nick Lord, of Maxwell Collins, anticipates a limited impact from the closure of the Ford plant. He said Geelong has grown to have strong employment in areas such as education and health "to name just a few".
He says the city has changed over the recent years with people "continuing to commute to Melbourne for work while enjoying the Geelong lifestyle".  
Ben Young, a commercial and industrial agent with Colliers International in Geelong, said these were "definitely interesting times" for retail and industrial letting in the city. "CBD retail is slow with the impact of online shopping and the after effects of the Westfield expansion around Malop Street and the market Square shopping complex," he said.  
"But the best investments are still a good tenant and a strong lease."
Young said there had been a "strong push" in the commercial/industrial market up until the election but this had slowly abated. Most of his deals are in the 200-600 square metre bracket with a wide mix of tenants and purchasers.  
The Waurn Ponds and Armstrong’s Creek growth areas were doing well, he said, "but without the volume out of Melbourne developers were expecting".  
Young said the city’s best retail strips – Pakington Street, Geelong West and High Street, Belmont – were "doing well" with leases of 50 square metres to 200 square metres proving to be solid investments. Yields are around 4.5%.  
The exit of the ‘three majors’ – Ford, Alcoa and Shell – has been counteracted to a certain extent by the arrival of other employers: the expansion of Deakin University, the Epworth Hospital/Deakin University training facility at Waurn Ponds, expansion of John of God Hospital and the arrival of a vehicle wheel maker who uses carbon fibre technology.  
"Coastal retail is flat, with landlords after high rates that are hard to achieve in a seasonal trading period."  
Young said this was "a good time to be buying in the Geelong CBD. I see growth, especially in retail and refurbished office markets. Rates will continue to climb."  
Hotspotting.com.au’s Terry Ryder – a big believer in the potential of regional city property markets for growth - provided they have diversified economies - says new ventures in the pipeline will counter-balance the economic impact of the closure of Ford and other potential job losses in Geelong.  
These include the Regional Rail Link and the plan to make Avalon the second international airport for Melbourne.  
Ryder says Geelong will continue to have "strong future as an affordable lifestyle alternative to Melbourne, with improving transport links to the city".  
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Suburb spotlight: Not all gloom and doom for Geelong

The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.

Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.

The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;

The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;

LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;

Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;

Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;

At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;

“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.

"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.

“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;

Fast Facts: What is Resilience LDI?&nbsp;

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>

The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

Stephen Taylor

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