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Bids for the three bedroom house at 36 Mills Street, Glen Iris, had not even been called when buyers' advocate Cameron Deal strode to the front of the crowd.
“$1.1 million,” he declared in a lou­­d voice.
Everyone stopped and turned to see this bold newcomer.
Auctioneer Steve Abbott, of eastern suburbs agency Jellis Craig, was taken aback.
''Hang on, sir, I haven't even started the bidding yet,'' he said, slightly miffed but happy that the ball was at least rolling. Too often an auctioneer is left hanging while bidders, reluctant to show their hand, stall at the starting barrier.
''$1.1 million,'' came the retort. That's a bid.''
The 1971 house (pictured below) was certainly worth more than that, especially in this accelerating selling environment, and the Infolio chief buyers' advocate knew it. But strategy is all important, too, and often a strong opening bid by a confident buyer - who looks like he'll go the distance – can throw other bidders into disarray.
{yoogallery src=[images/stories/2013/10/29/glen]}
Sadly for Deal's client, however, the bidding began again, continuing in small amounts up until the selling price of $1,272,500 to Chinese buyers. The vendors must have been ecstatic as the reserve was $1,100,000.
''It was a good tactic; fair and reasonable in the circumstances and it nearly had the desired result,'' Abbott said later. ''It took me a lot of cajoling to get the party started after that. Obviously his client didn't have the money and that strategy occasionally pays off in those cases.''
Strategy, tactics, inside knowledge: they are the buzzwords now as Melbourne's auction frenzy runs its course. Last weekend 1,450 properties went under the hammer in Melbourne making it the biggest auction day ever. It was called Super Saturday, with good reason. The Real Estate Institute of Victoria said more than $1.2 billion in property changed hands.
The strong clearance rate of 77% makes it clear that every edge, every advantage, is needed to ensure a winning bid.
Buyers' agents aim to give their clients that edge by searching for suitable properties in a certain price range, giving expert advice – especially taking emotion out of a decision to purchase - and, importantly, ensuring their client does not pay too much.
They enjoy a friendly, but often guarded repartee with selling agents, teasing out valuable information, looking for a snippet of information here, a dropped clue there. Anything that could earn them a sale.
Last Saturday, Property Observer spent the day with advocate Jake Milne, who works with Deal at Infolio, on a tour of auctions and open for inspections in Prahran, East St Kilda, Glen Iris and South Kingsville. It was a normal weekend for him as he researched what was on offer for his clients, supported colleagues bidding for theirs, and, later, bidding for his own client.
<img src="/images/stories/2013/10/29/jake-milne-oct-29.jpg" width="470" height="430" alt="jake-milne-oct-29">
Photo: Infolio's Jake Milne
''Port Melbourne, Prahran, St Kilda, Elwood, Middle and Albert Park and Williamstown are favourite locations for the former events manager, 30, who became an advocate with Infolio two years ago. ''I bought my first property at 25 and love the industry and the whole buying process,'' he admitted. ''Those suburbs have a community feel, some tourism, shops, dining and the water which are all good selling points.''
Here, rentals of one bedroom apartments can earn a 4% yield and two bedrooms 3.8%. First or second level apartments are especially popular with single females – in fact, he said Elwood is the second most popular suburb for this cohort in Melbourne.
Infolio property advisors operate on a fee for service basis and not a commission based structure. Fees start from a negotiation only $1,650 to research the market and negotiate prior or bid on a client’s behalf (whether successful or not); from $9,800 for a full service arrangement for investors or from $12,200 for a full service arrangement for home buyers.
The advisers assist clients with budgets of $400,000 up to $5 million.
Next page: First stop on Super Saturday
 
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First stop was 1/123 Chomley Street, Prahran (pictured below), a renovated two bedroom apartment that, in real estate parlance, ''ticks all the boxes''. Being sold through Marshall White the 1970s brick veneer is big – at 70 square metres – and well located near High Street. It has a sunny courtyard, car port, large rooms, timber floors and built in robes.
{yoogallery src=[images/stories/2013/10/29/pra]}
Surveying the crowd – where several buyers' advocates were preparing themselves for battle, Infolio's Nick Morrison said: ''I think we may be in trouble here. A few of the advocates have a reputation for paying too much and we won't be getting into a bidding war.'' That's certainly not his strategy. ''We usually open strongly but there's no point doing that here. We'll be sitting back and coming in later. I've got a firm price in my head.''
Morrison's full service client is an international investor with whom he spent the week with inspecting six properties. The client asked him to bid on this one but the strong buyer interest, and the number of rival advocates, warns him his chances of success at her price limit are slim.
He was right. A starting bid of $620,000 was quickly overtaken as bidding reached the $650,000 reserve in minutes. ''We are now selling,'' said auctioneer Michael Derham which seemed to switch on the tap as 11 new bids flooded in. Morrison chimed in with an offer of $687,000 but this was topped by $688,000 and the final bid of $690,000 by first time buyer Belinda Arena.
Derham said later that the reserve had been the same as the opening bid - $620,000. ''I didn't announce (that we were 'on the market') until we got to $640,000 as bidding was going along so strongly. The vendor was very pleased that he got $70,000 over.''
 <img src="/images/stories/2013/10/29/super-saturday-oct-29-one.jpg" width="470" height="366" alt="super-saturday-oct-29-one">
Photo: Michael Derham and winning bidder Belinda Arena at Chomley Street, Prahran
Morrison didn’t win but, unlike many buyers, he hadn't spent too much or – perhaps an advocate's greatest strength – been carried away in the heat of the contest. Emotion is a no-no.
Milne's next call was an auction at 2/29 Charnwood Road, St Kilda (pictured below) which he was assessing for a client. The one and a half bedroom apartment had been renovated and decorated with paintings and furniture designed to appeal to a professional couple. A courtyard added to the appeal of living in this historic locale but the ground floor position was a minor drawback.
{yoogallery src=[images/stories/2013/10/29/st]}
''This is a good entry level apartment and we are quoting low fours although it may go over $500,000. The market will see a lot of value here as there's nothing to do and it's got all the internal features.
''Also, this is a good block (eight apartments) and there have been a lot of good sellers around here – and this is a sellers' market. The sub-$500,000 levels are really competitive right now and this is exactly what young people want even though it's not even a genuine two bedroom apartment.
''It's a good time to sell; the market is going nuts.''
<img src="/images/stories/2013/10/29/super-saturday-oct-29-two.jpg" width="470" height="317" alt="super-saturday-oct-29-two">
Hocking Stuart auctioneer Rob Harvey (pictured above centre) set a cracking pace before knocking down the apartment for $495,000 to buyers' advocate Janet Spencer, of Buyer Solutions, Kew. Spencer is no stranger to winning: she was recently named 'Buyers' Advocate of the Year' at an REIV awards night at Crown Casino before 1200 agents, principals and industry representatives.
 <img src="/images/stories/2013/10/29/super-saturday-oct-29-three.jpg" width="470" height="386" alt="super-saturday-oct-29-three">
Photo: Janet Spencer and her happy client at Charnwood Road, St Kilda
Coincidentally, Infolio was nominated for the REIV Buyers’ Agent of the Year.
Next page: The Super Saturday action continues
 
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Off to our next open for inspection, Milne pondered what was driving up the Melbourne property market. ''Unemployment is going up, the Aussie dollar is at parity, business confidence is low and yet we have prices going up. That proves the enormous faith we have in the market.''
If he's not involved in a Saturday auction, Milne visits eight to 12 properties – mostly open for inspections – to see what's available and gauge the 'feel' of the marketplace. His expertise can save clients thousands, such as arranging building inspections which many potential buyers neglect. He tells of a client whom he convinced to have a clause inserted in the contract insisting that any chattels be in good working order.
''It's lucky we had that clause put in because, in settlement week, the buyer found the oven was faulty and the vendor had to get it fixed. This saved my client thousands because the oven was fixed for free and there was no time lost – read income - getting tenants.''
Off-market sales are another ''weapon'' in the advocates' armoury. ''I'd say one in three properties we buy are not even listed yet,'' Milne said. ''We chat to real estate agents all the time and find out what's coming onto market and when, which most buyers simply don't have the time – or the contacts - to do.''
When judging a property as a potential 'good buy', Milne said criteria for a one or two bedroom apartment included being over 50 square metres of internal space, with a less-than-18 apartment block not having a lift or a pool, being in a quiet street, having a carport, a laundry, some outdoor space and being close to transport. He reiterated that being on the first floor was especially relevant for security reasons.
3/11 Osborne Avenue, Glen Iris (pictured below) satisfied all this criteria, but Milne was not on the hunt, just doing some early research for a client. ''This is our bread and butter,'' he said.
{yoogallery src=[images/stories/2013/10/29/glen2]}
''It's in a street with lots of trees; has a great floor plan with large sunny rooms; has a balcony, bedrooms with built-in robes, and a separate toilet - although the bathroom needs a little work. There's storage space and heating and it would be easy to rent out – especially as it's near the tram and Harold Holt pool.
We could not stay for the auction and agent Alex Voronin, of Jellis Craig, would not disclose the selling price. However, the apartment is believed to have gone $40,000 over reserve. ''The vendor has asked me not to disclose the price but you can say it was a 'keenly contested auction with four bidders','' he said later.
Milne's main goal for the day was to buy 57 Paxton Street, South Kingsville (pictured below), for new client ‘Vanessa’. The outer suburban resident is keen to move closer to the city and this popular suburb is high on her hit list. She had paid $2750 for Milne's expertise and he's determined not to let her down.
{yoogallery src=[images/stories/2013/10/29/king]}
The new, four bedroom town house on 310 square metres had been ''built with love,'' Milne says, pointing out examples of quality and expertise. Further proof of confidence in the construction is that the builder-vendor lives next door.
Agent Tate Moore, of long-standing western suburbs agent Jas Stephens, confirmed a pre-auction estate of ''mid-800,000s'' but Milne, naturally, was hoping to pay less.
Bidding began but, without any opening offers, Tate threw in vendor bids of $800,000 and $810,000 to get things moving – they didn't. After inside talks with the vendor, he emerged to reopen the bidding and Milne seized his chance. However, his bids of $817,500, $821,000 and then $823,000 were matched by a rival until the property was passed in for $825,000.
Tate ushered the higher bidder inside for private negotiations, hoping to draw an offer closer to the reserve. He emerged, downcast, to announce that the vendor's reserve was $850,000 – about $20,000 more than Milne was prepared to pay – and that the property was still on the market.
''We could have kept on going but what would be the point,'' Milne confided to Vanessa afterwards, with the reserve price obviously well above her limit. ''We were in there with a chance and it's a tough pill to swallow but it does give us time to consider our next strategy. We'll just keep on looking.''
 
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Super Saturday: What it takes to win on Melbourne's busiest auction day ever

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"We’re in the coal business," Queensland Premier Campbell Newman famously quipped.

And now, to emphasise that point, his government is calling for tenders to explore for coal in the resource-rich Bowen Basin in central Queensland.

The minister for Natural Resources and Mines, Andrew Cripps, has announced the first ever non-cash tender for coal exploration at the Mining 2013 Convention in Brisbane.

"The seven areas of land being made available for coal exploration cover more than 1,292 square kilometres in the northern Bowen Basin," Cripps said.

"We understand that a vibrant exploration sector is critical to uncovering the mineral deposits and mines of the future, and non-cash tender processes offer the opportunity for junior explorers to make their mark."

The new framework for permits allows the government to assess and compare potential tenderers to ensure land goes to those best able to explore for potential resources.

Cripps said DNRM officers would assess applications for land based on the competitiveness of the ‘work programs’ submitted by explorers – without a requirement for cash bids.

He said the work programs would establish how and when an exploration company carries out its activities to ensure timely discovery of a prospective deposit. 

"Applicants will be assessed according to their proposed work program and the associated technical and financial capability to meet that work program."

Cripps said this tender process represented the first land release for competitive coal tendering since legislative changes allowed them to be allocated via tender as opposed to ‘over-the-counter’ applications.  

"It is crucial that the Queensland Government ensures the best stewardship of the state’s resources into the future," he said.

"Tenders of this type support the next wave of exploration discovery. They ensure that investment practices promote the long-term prosperity of Queensland and our resource industries."

Tender applications can be lodged up until Wednesday, March 5, 2014.

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First ever non-cash exploration tenders, as land released in coal rich Bowen Basin

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A shortage of properties on the Perth resale market is behind a gradual push in prices, especially in the $400,000-$550,000 segment, according to one expert. And this shortage is being exacerbated by many former renters taking the plunge and becoming first home buyers.  
Generous government grants, and the absence of stamp duty in certain price categories, is a huge drawcard for a group burnt by a spike in rents of up to 20% earlier in the year. Many have decided to abandon their leases and buy.  
Damian Collins, CEO and founder of Momentum Wealth, said the first home buyer group had rationalised that, with the government grant up from $7,000 to $10,000 for new homes and $3,000 for established – and not having to pay stamp duty of up to $17,000 on properties under $500,000 -- they might as well buy.  
He believes a balanced property market in the WA capital would have around 13,000 properties for sale – not the ‘’9000 on offer now’’. It’s been as high as 18,000 properties in 2010, he said.  
Citing the 600 clients on Momentum’s rent roll, Collins said the city’s vacancy rate had climbed to 3.5% as a result of tenants breaking their leases. A balanced vacancy rate is 3%, he said. The higher figure is putting downward pressure on rents which have dropped 3%-7% over the past 12 months.  
‘’It’s all cyclical,’’ he said. ‘’Yields for investors are 5% whereas they were 5.5% then. The outlook is still reasonably strong. I can’t foresee interest rates rising or any other factors impacting on prices.  
‘’Investors are becoming active and we have lots of clients who are finding it harder to find properties. Prices are gradually rising - but it’s certainly not booming.’’  
Collins said established properties in the northern corridor were most buoyant – even though they are 18-20km and 25-35km from the CBD. Padbury and Craigie, and Heathridge and Clarkson were all first home buyers’ suburbs in the 1980s but they are now being targeted by investors.  
‘’Perth is generally going well across the board. The busiest area is the $400,000 - $550,000 mark. The higher priced properties ($1m-plus) are not moving much in price but are at least transacting, which they weren’t 18 months ago.  
‘’Mining towns that ran up significantly during the boom are still suffering – these include Port Hedland and Karratha where prices and rents are down. Rents of $2000 per week were always unsustainable and those investors who purchased in those towns will likely suffer both rental and price declines.’’  
Jarrad Mahon, director at property manager Investors Edge, said the Perth market had tightened post federal election to 8893 listings. This is in line with July’s figures but below the September figure of 9200.  
Mahon is happy that listings are tightening, even though he usually gets lots of new stock in spring.  
The overall rental market has slowed down, he said, with average rents at $470 – down from $480 in April, May, June and July. There have been much bigger drops in some areas – from $20 to $100 a week - in the inner city which is more dependent on fly-in-fly-out workers whose numbers are dropping as a result of the downturn in mining, and a slower corporate sector.  
The middle ring suburbs are not so tied in to these workers and not so affected by their absence.  
Mahon agreed the more generous first home owners’ grant will result in more work for builders, especially in the outer suburbs. Also, builders will be able to pick up workers from the mines following the recent slowdown.  
A problem might be the extra time it now takes to clear land titles – up from one month to possibly two - meaning it will take longer for them to clear. This will put upward pressure on land prices, especially in the outer suburbs, he said.  
Mahon said he liked suburbs that have performed well since the last downturn, especially among the middle-ring suburbs 4km -10km from Perth. He said apartments in these suburbs were becoming popular as people move from villas into apartments where there’s less maintenance and gardening.  
Citing changes to the planning rules governing the building of multiple dwellings, Mahon said average mum-and-dad investors intending to build, say, the usual two apartments on the one block, were being priced out of a rising market. They could not compete with those with the resources to build the now allowed six-eight apartments who could afford to pay more for the same blocks.  
Mahon said popular suburbs were those in the ‘‘middle ring with cafe strips’’ such as Maylands, Bayswater, East Victoria Park, and Cloverdale on the airport side. Median prices for units here are $400,000-$500,000, and there’s a strong rental demand, too.  
‘’We are in a sellers’ market with property prices holding,’’ he said.
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Perth resale market tempered by first home buyers taking the plunge

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Eye-catching town houses on the site of the former Red Bluff hotel in Sandringham last night won the Bayside Built Environment Awards ‘Best of the Best 2013’.
Mayor Stephen Hartney hosted the eighth annual awards function attended by about 80 people at the Brighton Town Hall. He said the award acknowledges ‘’the most outstanding contribution to the Bayside built environment’’. The property also took out the award for best medium density housing.
Designer Angelo Pignalosa, of architects ROTHELOWMAN, collected his trophy saying he was ‘’proud to have my name associated with the building’’ at 170 Beach Road.
<img src="/images/stories/2013/10/24/bayside-oct-24-one.jpg" width="470" height="380" alt="bayside-oct-24-one">
Photo: Angelo Pignalosa before his award winning design. 
‘’There are lots of challenges for the architect – the main one being you want the building to come out as planned - and this one did,’’ he said.
The townhouses – 11 at the front with bay views and 24 behind – have three storeys of living, three bedrooms, rooftop terraces and basement car parks. Their facades vary in shape creating a wave-like appearance complementing the coastal location.
Judges Kim Dovey, Peter Boyle, Robert Caulfield, Heather Stewart, James Long and Matt Kelleher congratulated the team behind the project on its quality, design and streetscape presence. The judges said they were impressed by the way the medium-density project brought a “new form of living to one of Melbourne’s premier boulevards”.
Impressive as they are, the townhouses were almost upstaged by a striking – and non-conforming -timber house at 5 Retreat Road, Hampton.
{yoogallery src=[images/stories/2013/10/24/hampton]}
Photos courtesy of Grand Design Australia
The walls and roof are spotted gum, there’s paving all around and a pool in the backyard. Designed by Tim Jackson, of Jackson Clements Burrows Architects, it won Best New Residential Building and Most Creative Design.
<img src="/images/stories/2013/10/24/bayside-oct-24-two-2.jpg" width="470" height="384" alt="bayside-oct-24-two-2">
Photo: Tim Jackson with his awards
So appealing is this house in its quiet, suburban street, that it was featured in an episode of Grand Designs Australia (Foxtel's Lifestyle channel). Coincidentally, the presenter of the popular show, Peter Maddison, hosted the awards night.
The Brighton resident – also an award-winning architect - said the awards were ‘’a fabulous initiative that are good for the suburb and great for Melbourne’’. He said he loved ‘’the energy’’ of Bayside ‘’which inspires architects to do great works here’’.
<img src="/images/stories/2013/10/24/bayside-oct-24-three.jpg" width="470" height="360" alt="bayside-oct-24-three">
Photo: Brett Parsons, owner of 5 Retreat Road (left), with Peter Maddison. 
 Cr Hartney said this year’s entries were all of a high standard. “The awards intend to raise community awareness of design, landscape and heritage issues and publicly acknowledge architects and designers who have positively contributed to the city’s built environment, and this year was no different.
“170 Beach Road was the stand out for judges, but I congratulate all entrants this year on submitting their work – without it we wouldn’t be able to host this prestigious event.”
Other winners on the night were:
Best residential renovation or extension 148 New Street, Brighton, designed by Jenny Rizzo of Inarc Architects.
Best heritage renovation or restoration 73 Champion Street, Brighton, designed by Sherbrooke Design and Construction.
Best Ecologically Sustainable Design 24 Glencairn Avenue, Brighton East, designed by Ben Callery of Zen Architects.
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Bayside Built Environment Awards swept away with wave inspired town houses design

<html><body>NSW can begin the task of ‘’rebooting its planning regime’’ with legislation to govern the system introduced into the Lower House yesterday, the Property Council of Australia says. Despite having a fair way to go before becoming law, the introduction has pleased the NSW executive director, Glenn Byres. He said yesterday: "Chronic housing shortages, crippling red tape and high hurdles to investment are legacies of the current system - and it needs to be junked. "We desperately need a fresh start and the case for rebuilding confidence among investors, councils and the community is compelling.’’ Byres said a clear set of rules, applied objectively, with depoliticised development assessment, more e-planning and fewer planning policies, were all features of best-practice planning. "The new legislation won't please everyone,’’ he said. ‘’Demands and foot-stamping by local government saw the application of code assessment stripped back.’’ He said there had been other concessions to councils and self-appointed community groups ‘’who chose volume over valid argument in the public debate’’. "Industry also needs comfort that vigilance and discipline will apply to implementation and an acknowledgement that the reform task is continuous. "NSW is in an endless chase for capital, so embedding the new system quickly will help us secure the next wave of investment needed to sustain prosperity.’’ Byres said the property industry generated one-in-10 jobs in NSW and pays over $18 billion in salaries to workers and families across the state. Its members own, finance, manage and develop the nation's major commercial office, retail, industrial, hotel, retirement living and residential assets. "But the pending legislation - coupled with meaningful cultural reform and real accountability - can signal the start of a more contemporary system. "We hope all parliamentarians give a tick to better planning laws."</body></html>

New planning legislation enters NSW Parliament

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The latest Australian Property Institute Property Directions Survey has found the commercial property market in Brisbane has declined over the past 12 months and is currently at the bottom of the property cycle.  
In contrast, the Sydney and Melbourne commercial property markets saw little change in the 12 months to October.  
The six-monthly survey, by the API’s NSW branch, measures the sentiment and expectations of valuers, fund managers, property analysts and property financiers on a range of topics affecting the property industry.  
It found that, generally, commercial, industrial, retail and residential property markets in Sydney, Melbourne and Brisbane are progressing along the upswing of the property cycle and will do so over the next two years.  
Brisbane retail property is seen as having begun the upswing, and remaining at a similar stage next year and progressing further along in two year’s time. That city’s industrial and residential property sectors are also seen as having begun the upswing and advancing along it next year.  
However, 76% of respondents believe effective rentals will decline in the Brisbane CBD – a strong deviation from the previous survey in May. The Melbourne figure was 68%.  
A stronger performance is predicted over the next two year’s making industrial and residential the strongest performing of the four classes of property in Brisbane. The residential property markets are furthest along the upswing in Sydney and Melbourne.  
Tyrone Hodge, the API’s NSW president, said most respondents were confident the residential property market in the three cities would continue to surge ahead. “Respondents saw this improvement in the residential property market continuing in the next two years, while 70% believe that the changing Australian dollar will have a positive impact on foreign investment in Australian property.  
“Respondents believe commercial property markets in the three cities will improve slowly over time, but that Sydney will be the strongest performing market in the next two years,” Hodge said.  
Respondents indicated that, over the next 12 months, they expect market values for commercial properties in the Sydney CBD, Sydney suburban CBDs and Melbourne CBD to increase above CPI, but at a slower rate than predicted in the previous Australian Property Directions Survey.  
“The tough conditions are reflected in the greater incentives required and slowing market values and with rental increases at a slower pace indicated by survey respondents,” he said.  
A majority of respondents forecast at least moderate investment growth for both the Australian listed and unlisted property trusts and syndicates over the next 12 months but fewer respondents predicted strong growth than in the May survey. Overall, the expected growth for domestic trusts and syndicates to remain strong over the next 12 months.  
Most expect at least moderate investment growth in international listed and unlisted trusts and syndicates in the next 12 months.   For new leases, respondents were split on the forecast movement of effective rents over the next six months in Sydney. “56% of respondents believe that effective rents (which take incentives into account) will remain stable, while 44% of respondents believe they will decline,” Hodge said.  
All respondents saw leasing incentives as a feature of capital city rental markets.  
Across the Sydney and Melbourne CBDs and suburban CBDs, and the Brisbane CBD,
there is a trend towards increasing incentives. Most respondents reported leasing incentives of 20-29%, with leanings towards levels of more than 30% across prime, A grade and lower grade properties. Overall, respondents believe that, even while incentives grow, rents are unlikely to benefit.  
79% of respondents believe there will be moderate investment growth in both listed and unlisted domestic trusts and syndicates. Respondents indicated that they are continuing to see greater inflows from domestic institutions, while others believe that self-managed super funds will boost the supply of funds into the unlisted sector.  
As to major factors impacting the Australian economy, most respondents believe that interest rates and inflation will be similar for the next 12 months, while a large majority believe they will trend higher over the next three years.  
Many believe that the federal election result provides more certainty of government which has positively influenced business confidence. Others believe that the recovery of the share market will result in increased investment in property by superannuation funds to balance their portfolios.
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Brisbane at the bottom of the cycle: API survey

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More than half of Tasmania's local councils now have new planning schemes following the declaration of schemes for the West Tamar and Meander Valley.
Tasmanian Planning Minister Bryan Green made the announcement last week following his declaration of planning schemes for all local councils in the Cradle Coast region the week before.
The minister said that the signing-off on schemes for the West Tamar and Meander Valley councils means the majority of northern Tasmania is now covered by the new planning laws, news source urbananalyst reports.
Green said cooperation between the state government and local councils was the key to the success of the planning reforms. He cited the introduction of a single state-wide planning template, a new code for residential development and new regional land use strategies.
"The government's reforms focus on reducing costs and barriers to job-creating developments and housing through streamlined planning systems," he said.
The Tasmanian Planning Commission says the minister's declaration of the West Tamar and Meander Valley interim planning schemes is the first step in the assessment process under the Land Use Planning and Approvals Act 1993.
The schemes will now be publicly exhibited and representations can be made to respective planning authorities during this time.
The West Tamar interim scheme applies to the West Tamar municipal area and replaces the West Tamar Planning Scheme 2006, while the Meander Valley interim scheme applies to the Meander Valley municipal area and replaces the Meander Valley Planning Scheme 1995.
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New planning schemes for more than 50% of Tasmania

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Around 1,000 houses and 3,000 square metres of commercial mixed use development will be built on the shores of Lake Tuggeranong in the ACT.
Southquay, announced last week and reported by urbananalyst, will cover an entire urban precinct of 13 blocks, with development on both sides of the lake.
It will be built in stages, with the western side between Anketell Street and the lake first, followed by the area between the lake and Drakeford Drive.
ACT government planning rules allow for sites with frontages to Anketell Street to be 6-8 storeys, with allowance for three towers of a maximum 12 storeys.  Development will scale down to 2-4 storeys at the lake's edge to maximise views and retain appropriate scale.
Blocks for the first 300 dwellings are expected to be released by mid next year, with the remaining sites on the western side released over the following three years.
Development on the lake's eastern side, still subject to a land use policy approval process, will have maximum heights of three storeys for construction of up to 150 dwellings. These blocks are expected to be released in 2016-17.
The ACT government says Southquay is in line with its infill policy. It says the development aims to boost the viability of the Tuggeranong town centre and encourage a lively and active lake foreshore.
It is also one of the first projects to be delivered after the release of the Tuggeranong Town Centre Master Plan in September last year by Environment and Sustainable Development Minister Simon Corbell.
Corbell said extensive community consultation was undertaken by the Land Development Agency during the planning process, and that stakeholders, including the Tuggeranong Community Council, had had significant input.
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Commercial mixed use development about to come along to Tuggeranong

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The Victorian regional city of Bendigo is on the move with plans approved - and others in the pipeline - for a swag of apartments and commercial premises set to transform the goldfield’s town.
The Bendigo Weekly reports that the latest in a line of multi-million dollar apartment proposals -  many  in converted factories and warehouses – will ‘’take Bendigo CBD living to the next level’’.
One is said to be the largest apartment and commercial project ever built in the city.
The latest is a plan for a $7 million, 26 dwelling refurbishment of the former Via Furniture site on the corner of Mundy and Havlin streets.
<img src="/images/stories/2013/10/23/BENDIGO_OCT_23_ONE.gif" width="360" height="213" alt="BENDIGO_OCT_23_ONE">
Artists impression of how the former Via Furniture site will look.
It follows approved plans for:
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A $2.5 million 15 apartment conversion of the former Webb and Co mill building on the corner of Williamson and Queen streets;
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A four-storey $12 million residential and commercial development at 23 Wills Street, opposite Target;
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A $3 million building on the corner of Mitchell and Mollison streets with retail, office space and four apartments.
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While approved by the Bendigo Council, none of the apartment projects has yet been started.
The greater emphasis on apartment living relates to Bendigo’s expected population growth – tipped to rise more than 36,000 over the next 20 years on the present figure of 109,199. This is a change of 33.3%. (forecast.id).
In the past 20 years, housing growth – not apartments - has been most heavily concentrated in the suburbs of Kangaroo Flat, Strathfieldsaye, Strathdale, Flora Hill and Golden Square.
Now, local concern is that residential buildings should go up, rather than out, to contain urban sprawl, combined with a desire to protect Bendigo’s historic buildings.  
The Bendigo Weekly said the latest proposal – the former Via Furniture site - would have a mixture of four-bedroom detached homes, double-storey terraces and three-storey warehouse style studio apartments.
The medium-density site would have a 20-seat cafe open 7am-7pm seven days a week. The development will back onto Ewing Park and a Bendigo recreational facility.
Owner and builder Russell Parsons, who lodged the application with Greater Bendigo council late last month, is reported in the Weekly as saying the attraction is the site’s proximity to the CBD and restaurant area.
“Central West Bendigo is emerging as an area within the CBD where people are seeking to live and recreate, taking advantage of its natural location and built-form characteristics.
The plan fits in with council’s inner city residential development push, and is in an existing residential area.
“This plan will clearly complement the evolving changes required by our population by providing housing diversity and opportunity, decreased dependence on the car, a new public space and improvements to the public domain.
“People have been looking for developments like these around the CBD for years.”
Other approved apartment projects include the $2.5 million, 15 apartment conversion of the former William Webb building on the corner of Williamson and Queen streets. Webb built the four-storey mill and granary in 1878. At one stage it produced 2500 sacks per week. Webb died in 1909 and production stopped in 1923.
The building was then refitted for the So Easy sewing machine company, with the first machine christened by Acting Prime Minister Earle Page on October 10, 1923.
The new commercial and residential complex will retain as much of the historic building as possible, according to the Weekly.
The facade will not be significantly altered, except for the new shop front and entry point on the ground level, and internal historic features will be highlighted.
Greater Bendigo heritage advisor Mandy Jean reported said the plan would ensure the restoration and rehabilitation of the old mill building and offer city views.
"The objective is to maintain the building's overall historical significance and fabric in their setting, while adapting the structures to incorporate new uses, including apartments.
"This will include reinstating all the windows, retaining the upper vaulted ceiling, exposing stone and brick walls, uncovering covered structural timber columns and beams and removing false partitions and ceilings.
"There will be the introduction of a new level behind the existing parapet roof."
What was described by the Weekly as ‘’possibly Bendigo's biggest private housing development’’ is a four-storey $12 million residential and commercial development at 23 Wills Street, opposite Target.
The building will have underground car parking, commercial and retail levels and two levels of apartments. Apartment numbers are not yet known.
The development fits in with the council's CBD and residential strategies, having ‘’an active front’’ and apartments above shops.
The developer and local investors had planned a much smaller proposal, however, after reading the council's 2005 CBD Structure Plan – and in light of future residential and commercial growth - they were inspired to design a much grander building, the Weekly reported.
"When you consider so much of the CBD is either tightly held, too small to develop or subject to heritage protection, it became obvious we ought to utilise the space we had as best we could,’’ developer and business consultant Scott Jackman reportedly said. The building's design was inspired by Bendigo's historic buildings.  
<img src="/images/stories/2013/10/23/BENDIGO-OCT-23-TWO.jpg" width="461" height="218" alt="BENDIGO-OCT-23-TWO" style="display: block; margin-left: auto; margin-right: auto;">
Artsist impression
Bendigo’s residential strategy came under the spotlight last year because of its greater-than-expected growth. The state government said then that 40% of the city’s forecast growth between 2006 and 2031 ‘’had already been realised’’. (Bendigo Weekly).
Regional Development Parliamentary Secretary Damian Drum said a Bendigo residential strategy review would deliver greater community and investor certainty, further helping the region grow.
“Strong residential growth has many flow-on economic benefits and having a clear framework for future development will position Greater Bendigo City Council to undertake more detailed, place-based planning in the future.’’
Then Deputy Premier Peter Ryan added: “This project will review the strategy, assess current and estimated land supply and demand and consider various legislative and policy changes.
“It will also consider the latest demographic data and establish a new strategic framework to guide the long-term residential growth of Greater Bendigo.’’
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Swag of plans approved for Bendigo as goldfields town looks set to transform

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Consumers should seek advice if they are considering fixing their home loan rate, mortgage broker Loan Market says.
The broker says many analysts are predicting an end to the downward interest rate cycle.
Loan Market director Mark De Martino said nearly one-in-two home loan inquiries in October related to home loan fixing. He said fixed loans were popular because of warning signs that rates are heading back up.
"Many homeowners and buyers mistakenly think the best time to fix your interest rate is just before they head up, when, really, the best time to fix your interest rate depends more on your personal circumstances than what the market is doing."
De Martino suggests borrowers consider their lifestyles, financial goals and property plans before choosing their loan type. They can then consider when and if they should act in anticipation of rates dropping.
"Borrowers need to ensure they are locking into a fixed rate for the right reasons, such as certainty of repayment and peace of mind, rather than as a speculative play on where rates are going to move.
"A home loan is something that a borrower will carry for decades and they will likely see several interest rate cycles. Fixing into a historically low interest rate right now for the first two or three years is attractive but that strategy needs to match the personal goals of the borrower."
De Martino said nearly half of all homeowners used a mortgage broker to help them figure out if a fixed interest rate matched their personal situation and financial goals.
"Mortgage brokers are the best advocates for responsible borrowing," he said. "They’ll make sure the client is put into a home loan that will allow them to live the lifestyle of their choosing."
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Don't fix without asking for advice: Loan Market

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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