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There are highs and lows in any industry – especially property. No sooner do things go up than they come down.
Take the port city of Gladstone in Queensland, for instance. Elders Real Estate’s property manager, Nikki Nation, said increasing industrial activity over the past few years had caused rentals to rise sharply - but they are now dropping back sharply.
"It all depends on the property, of course, but we are now offering brand new four-bedroom houses for $50-$100 a week less than previously, with a property that was $550 now $500; a self-contained townhouse that was $850 now $550 a week."
Gladstone, with a population of around 32,000, is 550 kilometres north of Brisbane. Settled in 1853 it is the state’s largest commodity port. The local commerce is primarily industrial-based and includes large-scale alumina refineries, aluminium smelting, heavy chemicals and shale oil. And therein lies the reason for the rental declines.
An oversupply of rental properties was caused when a large dredging company’s contract ended recently and it quit the town. This resulted in the company handing back 200 properties formerly used by its fly-in-fly-out workforce, flooding the market. Elders had exposure to 75 of these properties. "Of course this has driven rents down," Nation said. "However, we are still managing to rent out 50-70 properties each month."
Resource companies – and their FIFO workers - are still moving into the district with a LNG project just getting off the ground at nearby Curtis Island, the Wiggins Island coal export terminal development and the establishment of a shale oil plant being explored. Workers at these projects will still require housing.
"The drop in rents has affected us,’’ Ms Nation said. ‘’But lots of families are coming here.’’
‘’There are still healthy returns, just probably not as high. I’m told that lots of investors are getting 6% to 8% returns.’’
Elders is renting <a target="_blank" href="https://www.realestate.com.au/property-house-qld-south+gladstone-410798767">4/12 Leonard Street South Gladstone</a> (pictured below) for $450 per week. The house has three bedrooms, two bathrooms and a double garage. The townhouse is one of seven in the complex.
{yoogallery src=[images/stories/2013/10/22/glad]}
 
Having developed into a prosperous regional centre for business and government services, Toowoomba is attractive for renters working in its broad-based economy.
The south-east Queensland city is 127 kilometres west of Brisbane in the Darling Downs with an estimated district population of 157,023. Settled in the 1840s it is Australia's second most populous inland city and the most populous non-capital inland city, <a target="_blank" href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/3218.02009-10?OpenDocument">according to ABS statistics</a>.
Fastrack Property Managers’ Grant Beveridge said present rental vacancy rates were only 1%-1.5% - much lower than the usual 3% - with demand for property strong all year. ‘’This is a region that lives with its own hub. So, for investors, we are not greatly affected by what happens in the rest of the country.’’
With a strong industrial base, such as mining in the Surat Basin two hours to the west, and the nearby Acland coal mine, workers are being drawn from the Toowoomba region and strengthening demand for rentals. As a further sign of confidence, the long established Wagner concrete company is planning to build a $100 million airport at nearby Charlton next year to import and export its products.
Beveridge said this was expected to provide 2000 jobs in the initial stages - and obviously boost demand for rental accommodation. The airport is expected to generate up to $318 million yearly in economic output.
"All these projects are making it good to invest in the west side of town. If you haven’t invested in Glenvale, Harristown or Kearneys Springs in the next six-to-12 months, you might be too late," Beveridge said. "Prices will skyrocket as banks free up lending."
The establishment of a $300 million shopping centre in the centre of town, and adventurous plans to combine it with two existing shopping centres - Garden Town and Grand Centre, by the end of next year, will also be a catalyst for higher rental prices.
Beveridge said renters were typically chasing four bedroom, two bathroom houses with two car spaces and paying $380-$420 per week. He said increasing prices meant landlords were achieving higher yields, often as high as 5.5%-6%.
"These properties make up 65%-70% of our stock as we are a management agency only – we don’t sell property," he said.
"Rentals depend on location and there are some good yields being achieved at Kearneys Springs and Harristown. Investors paying in the 'high two’s to low three’s' for property there were receiving $330-$340 a week in rent," he said.
Fastrack is renting <a target="_blank" href="https://www.realestate.com.au/property-house-qld-glenvale-411530219">7 Candlebark Court, Glenvale</a> (pictured below) from November 6, for $320 per week. The three bedroom brick house has one bathroom and a single car space.
<img width="470" height="248" alt="glenvale-opct-22-two" src="/images/stories/2013/10/22/glenvale-opct-22-two.jpg">
 
Rockhampton, never a boom-or-bust town, is having a 'bit of a hiccup' now as mining slows in nearby regional cities Gladstone and Mackay and reduces demand for local rentals. As a result, vacancy rates in ‘Rocky’ are the highest they’ve been for a while at 3.6%, instead of their customary 1%-1.5%.
Rebecca Trott, property department manager at Pat O’Driscoll Real Estate, said: "During the 18 months that our vacancy rate was under 1% we saw an increase in rent of around $20 per week to $40 per week. It’s now stabilised with less demand and increased vacancy rates."
But that’s now changed with a lot of people who had moved into the area over the past few years to work in the mines now moving onto green pastures. "Things are a bit different here now," she said, with people moving out – and not in – to the town, which has fewer FIFO (fly in fly out) workers than, say Gladstone, which is 100 kilometres away.
Rockhampton, settled in 1858, is 640 kilometres north of Brisbane on the Fitzroy River. It has a population of around 70,000 and is about a 30-minute drive from the coast.
All is not doom and gloom in the town which prides itself on its sunny climate. "I can certainly see it picking up because Rockhampton has a broad range of industries and usually rises steadily," Trott said.
"Construction work at the public hospital will create more employment opportunities in the near future, as well as many high-rise developments currently under construction and new estates being established in the Rockhampton area."
The most popular rental properties are units or townhouses, with the average weekly rent for units at $280-$300 a week. Average rental prices, which include houses, is around $350 a week. Good news for prospective tenants is that the high vacancy rates have ensured there is "plenty of everything" available at the moment.
The usual tenants are families or professional couples who have arranged employment before arriving in the town.
"Yes there’s been a bit of a hiccup at the moment but things will improve as Rockhampton is a great place to live."
Pat O’Driscoll Real Estate is seeking tenants for <a target="_blank" href="https://www.realestate.com.au/property-house-qld-the+range-408520895">10 Bolton Street, The Range</a> (pictured below), at $320 per week. The high-set weatherboard has two bedrooms, sleep-out, bathroom and single carport. There’s an updated kitchen, polished floors, fans throughout, deck at the front, plus a carport at the rear. Trees behind the front fence add privacy.
<img width="470" height="353" alt="rockhampton_oct_22_one" src="/images/stories/2013/10/22/rockhampton_oct_22_one.jpg">
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staylor-63KgDrKwoY

What's happening in Gladstone, Rockhampton and Toowoomba?

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The Real Estate Institute of Australia (REIA) is concerned at the way the National Occupational Licensing Authority (NOLA) is spending taxpayer funds.
The authority is conducting a round of interstate visits which appear to be both unnecessary and beyond the role it should have, REIA president Peter Bushby said.
“The process for national licensing is at the stage where the state and territory treasurers will be deciding on the matter later this year. Consultation at the jurisdictional level, which includes input from NOLA, has ended,’’ he said.
‘’NOLA’s involvement at this stage is totally unnecessary and would appear to amount to no more than lobbying - which is inappropriate.
‘’NOLA should not be a ‘player’ in the field ‘championing’ particular outcomes.”
The authority was set up in 2008 as the independent statutory authority responsible for establishing a licensing system for specific occupations across Australia. It works with state and federal governments, stakeholders, industry associations and regulators to define and implement a national occupational licensing system so licence holders can work anywhere in Australia.
“These actions by NOLA come on top of it stating in a media interview during the election campaign that the incoming coalition government would not change Labor’s implementation of national licensing for real estate agents,’’ Bushby said.
“Again, it was inappropriate for an administering agency to speculate on what an incoming government may or may not do. It was even more inappropriate that a public servant should be making such comments whilst (the government was) in caretaker mode.
“NOLA’s actions are eroding support for national licensing and, more generally, for initiatives developed through the COAG Council process. They should be sticking to what they were set up to do and not wasting some of their 2013/2014 budget of $8.4m on inappropriate travel and activities,” Bushby said.
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Concerns over national licensing body NOLA's use of funds

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Following our <a target="_blank" href="https://www.propertyobserver.com.au/victoria/docklands-finding-its-feet-after-a-difficult-conception/2013101065628">suburb overview of Docklands</a>, we continue our series on the suburb with the local real estate agents perspective.
At last, say the real estate agents, the emerging Docklands has rejuvenated itself and started to blossom, to achieve its potential.
No more a soulless ghost town, it is now an attractive – and well located – haven where high-rise residential towers and rows of townhouses front busy streetscapes and wide promenades. They have enviable views and amenity.
The waterfront with its marinas and luxury craft add their own atmosphere. Things are buzzing.
There’s a general consensus that, as building works settle down – and new residents settle in – Docklands will consolidate and provide the kind of lifestyle its residents bought in for in the first place.
Places Victoria’s expectations are that, by 2025, Docklands will be home to 20,000 residents and 60,000 workers, with an area almost double the size of the Melbourne central business district.
And there’s no better gauge of this than recent property transactions.  Long-term agent Glen Lucas, of Lucas Real Estate, with offices at Yarra’s Edge and NewQuay, said business was "pretty good".
"The market has stabilised over the past three months after a tough 18 months. There is lots of interest now and we are selling more property – and the best thing is that 75% of buyers are owner-occupiers.
"It’s a good news storey: people do want to live here despite some negative perceptions in the past. Everyone seemed to have an opinion about Docklands based on negative media reports, such as about the broken Observation wheel. Everyone seemed to want to have a crack.
"Well, I lived at Docklands for six years and I found it a great place in which to live."
Some of the offerings are spectacular, such as the penthouse at 90 Lorimer Street which Lucas sold on New Year’s Eve for $3.5 million – again to an owner-occupier. "We were all pretty excited about that," admitted the agent. "And, from what I hear, the renovations are absolutely spectacular."
Lucas said average Docklands sales were around the $750,000 mark with average rents around $550 a week. His firm manages 1100 rentals.
<a target="_blank" href="https://www.sellmycastle.com.au/agent-profiles/glenn-donnelly/2939/">Glenn Donnelly</a>, of City Residential Real Estate in Lorimer Street, echoed the owner-occupier theme. "Of our past 10 sales eight were to owner-occupiers. Properties here have started to generate a lot more interest and this year we are charging along in both sales and rentals."
Donnelly has lived at Docklands for the past six years and worked there for 12. "It is a fabulous area: you can walk everywhere - I don’t tend to drive a lot – and there are restaurants and bike paths and, of course, activities on the water.
"I have seen enormous changes: no one wanted to live here in the early days because there were no amenities; there were a lot of negatives. Now it’s totally different. Rents and sales are up and there’s been enormous growth, yet we are still five years away from our peak.
"What we really need is a school, though, and I know one’s being planned. That would make the suburb complete."
Donnelly said sales averaged $680,000-$700,000 for two-bedroom townhouses with two bathrooms, two car spaces and views, with similar properties renting for around $580 a week. "The rent market is strong and nothing stays vacant for long."
City Residential Real Estate manages 370 rentals.
John Sdregas, of JMRE North Melbourne, but with a Docklands focus, says he foresaw the growth potential for real estate 10 years ago as residents of congested inner suburbs east and north of Melbourne moved further west to get more ‘bang for their buck’.
They found they could buy whole houses in well-placed Yarraville or Seddon for what they were expected to pay for small, two bedroom apartments in, say, Richmond, Fitzroy or North Melbourne. This pointed to a realignment of the centre of Melbourne with Docklands as its focal point.
"I’ve only ever seen steady growth here – about 7% in the past two years. And, also, demand for rentals is strong at about $500 a week for the average two bedroom, one bathroom, one car park townhouse. The average sale price for those properties would be $500,000-$550,000."
Ddregas said an early imbalance in supply and demand causing to a glut of apartments - and the seemingly never-ending construction works - had led to popular perceptions of Docklands in its formative years as being deserted.  This has changed: he now believes that with all the big companies establishing themselves, and others moving in, the notional centre of Melbourne is moving west and assuring the suburb’s future.
Lachal Property Group’s Paul Lachal, who specialises in project management and advising investors and developers on marketing and sales, often at Docklands, said nowhere in Australia had there been such development in such a short timeframe, with 10 large buildings erected – including the NAB and ANZ banking headquarters.
"This is the fastest growth area in the country," Lachal said. "A lot of people used to say it is desolate but, if they had seen what was here 10 years ago and what is here now, and if they see the major new buildings that have sprung up, they would be amazed."
He said these ‘house-hold names’ were anchor points adding stability and traction to Docklands and attracting others to follow their lead. They are the solid foundations on which residential builders can build a new suburb.
Lachal said the fact Docklands was not laid out on the Hoddle Grid – as is the Melbourne CBD – could be blamed for making it harder to get around. It’s just a learning process, he said.
An example of the current Docklands offerings is this apartment at 1122/60 Siddeley Street, listed for $490,000 through <a target="_blank" href="https://www.cityresidential.com.au/listings_residential_id/15666/property_details">City Residential Real Estate</a>.
{yoogallery src=[images/stories/2013/10/17/dock]}
<a href="https://www.cityresidential.com.au/directDisplay/propPhotoViewer?imageNo=1&amp;listings_rental_id=12349&amp;width=960&amp;height=790"></a>
<a href="https://www.cityresidential.com.au/directDisplay/propPhotoViewer?imageNo=2&amp;listings_rental_id=12349&amp;width=960&amp;height=790"></a><a href="https://www.cityresidential.com.au/directDisplay/propPhotoViewer?imageNo=3&amp;listings_rental_id=12349&amp;width=960&amp;height=790"></a>
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At last, Docklands is starting to blossom say local real estate agents

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Joint venture developers Frasers Property Australia and Sekisui House Australia have fast-tracked the final two residential stages at Central Park and will soon release another 500 apartments to the market to keep pace with demand.
Fraser’s CEO Guy Pahor said the joint venture was constructing 1,400 apartments as part of the first residential stage of Central Park. He said the success of apartment sales had prompted an acceleration of the next residential stages within the 5.8 hectare mixed-use precinct.
“Frasers, and our joint venture partners, Sekisui House Australia, are delivering on the vision of Central Park and rapidly transforming this previously inaccessible part of Sydney into a vibrant mixed-use development and stitching it back to the surrounding communities,” he said.
The concept designs of Smart Design Studio and Francis-Jones Morehen-Thorp (fjmt) were selected following a design competition for the next two residential stages within Central Park. This was required under the 2009 concept plan approval for Central Park to ensure continuing design excellence at the precinct. Architects so far have been Foster + Partners, Ateliers Jean Nouvel and Johnson Pilton Walker.
A design review panel was formed to oversee the submissions, with members including Frasers’ Pahor, Lucy Turnbull, an independent member of the Sydney Metropolitan Development Authority, and Chris Johnson, chief executive of the Urban Taskforce.
The panel nominated the architects and a preferred concept scheme for each site. This was then submitted to the NSW Department of Planning &amp; Infrastructure for ratification.
The Smart-designed building will be the first residential building to be developed on the Abercrombie Street edge of Central Park and will include 180 apartments.
William Smart, of Smart Design Studio, said:  “Our design intent was to create a link between Chippendale and the southern edge of the Sydney CBD. We wanted to create a building that offered privacy to its occupants and beauty to passersby.
‘’Lessons borrowed from nature inform the thinking on the façade. The rippled surface of water inspired the exploration of a lenticular façade, and louvres, used in an artful way, provide the privacy required and control the light, creating movement across the façade and an ever changing character.”
The site of the fjmt-designed building is bordered by O’Connor and Wellington streets on the Chippendale edge of the Central Park precinct.  This building, which is not part of the joint venture with Sekisui, will be independently developed by Frasers and will include 320 apartments in a long, sinuous building along Wellington Street.
Richard Francis-Jones, design director of fjmt, said: “Our design for this important part of Central Park introduces a curvilinear and fluid architecture. It will create additional landscaped parkland and apartments opening out to views and natural light. These will be wonderful places to live.”
More than 1200 apartments have been sold and about 400 apartments settled, with a further 1,000 settlements due later this year and into 2014, Parhor said.
“Next year will see development accelerating further – not only on the residential front but also on other phases of the development – with commencement of the commercial precinct, student housing and the refurbishment of historic Kensington Street - all scheduled to start next year.”
Recently, Frasers invited the local community, as well as community groups, UTS and University of Notre Dame to join William Smart on a site tour and to discuss his proposed design.
The local community will also be asked to comment on fjmt’s evolving design on the Wellington Street building.
World-class architecture, design, landscape and urban planning are core principles of Frasers’ and Sekisui House’s vision for Central Park.
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Central Park stages accelerated to keep up with demand

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The Queensland Government will boost the role of the Property and Infrastructure Cabinet Committee (PICC) to make the infrastructure decisions that drive the state’s economic growth.  

The Minister for State Development, Infrastructure and Planning, Jeff Seeney, said the PICC had already proved its worth in overseeing the successful implementation of the planning reform commitments of the Newman Government. 

He said the committee would also be charged by the premier to reform how the state’s infrastructure is prioritised and delivered across the whole of government.

“The premier has made it plain that we must have a more disciplined approach to infrastructure decisions, get better value from the state’s infrastructure assets and get the private sector more involved in infrastructure provision," Seeney said.

“This is about contestability across all areas of government so the right infrastructure, which will deliver the best outcomes, is progressed.”

Seeney said the committee would be guided by the government’s blueprint for infrastructure reform: Infrastructure for Economic Development, released today. 

“In developing Infrastructure for Economic Development we worked closely with Infrastructure Queensland, established by us, with public and private sector leaders, to advise government on infrastructure issues,” he said.

“Infrastructure Queensland strongly supports these reforms.

“Infrastructure for Economic Development also outlines the government’s commitment to develop a 10 year state infrastructure plan, and for government agencies to provide greater transparency in how state assets are managed through total asset management plans.  

“Infrastructure for Economic Development forms an integral component of the Governing for Growth framework which sets out actions to foster greater state economic growth.”

The committee members are the Deputy Premier, the Treasurer and Minister for Trade Tim Nicholls, the Minister for Transport and Main Roads Scott Emerson, the Minister for Environment and Heritage Protection Andrew Powell, the Minister for Local Government, Community Recovery and Resilience David Crisafulli, the Minister for Housing and Public Works Tim Mander, the Minister for Energy and Water Supply Mark McArdle and the Assistant Minister for Planning Reform Rob Molhoek.

The document is at: <a href="https://www.dsdip.qld.gov.au/ifed">www.dsdip.qld.gov.au/ifed</a>

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Government to maximise infrastructure life and spend

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WA Transport Minister Troy Buswell has urged Kalgoorlie-Boulder residents to have their say on the PortLink project. He is encouraging them to attend an information day on the planning options for the project this Saturday, October 19.
The PortLink concept ultimately links the towns of Port Hedland, Kalgoorlie-Boulder, Esperance and Geraldton, and has the potential, Buswell says, to build a stronger and more flexible transport network.
The project will include a heavy vehicle bypass road, a freight rail bypass around the town centre and a potential intermodal terminal in Kalgoorlie.
“These projects have the potential to significantly reduce the number of heavy freight vehicles on local roads as well as reduce rail traffic through Kalgoorlie’s city centre,” Buswell said.
“This will result in improved road and rail safety and provide better amenity for the Kalgoorlie-Boulder community.
“There are three options for each of the road, rail and intermodal terminal projects and I encourage locals to have a say in what would work best for their community.”
The Department of Transport will host the information session at Markets Arcade, Hannan Street, Kalgoorlie, from 10am-3pm.
Regional Development Minister Brendon Grylls said PortLink could open up Western Australia’s resource-rich regions to better economic development opportunities.
“One of the objectives of the PortLink project is to test the feasibility of a regional alternative to Perth as a major distribution point for interstate freight,” he said.
Planning studies for Phase 1 of PortLink are being funded by the State Government’s Royalties for Regions program ($5 million) and the Commonwealth Nation Building program ($2 million).
The public consultation period runs until November 1.
Information and community comment forms are available at: <a title="Department of Transport website" target="_blank" href="https://www.transport.wa.gov.au/PortLink">https://www.transport.wa.gov.au/PortLink</a>
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WA PortLink project enters public consultation phase

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A major development site on Mill Point Road could be developed into one of South Perth’s landmark buildings, according to selling agent Knight Frank.
The high profile, 2266 square metre site on the corner of Harper Terrace is metres from the Swan River foreshore and the Kwinana freeway on/off ramp.
Knight Frank director Tony Delich said the site had the potential to be developed into an imposing mixed use or office building with spectacular 360 degree views.
The site is within the South Perth station precinct plan and the council’s Special Design Area which could allow for a potential height density bonus above 12 storeys.
Delich said the City of South Perth was encouraging intensive development of the area to take advantage of its location, as well as good public transport options.
“This entire area will be subject to significant rejuvenation and redevelopment over the next few years with the property directly opposite also being redeveloped,” Delich said.
“With expansive frontage to Mill Point Road and Harper Terrace this site is one of the largest in the area and provides a ‘gateway’ corner location for a spectacular new development.
“Knight Frank recently sold a similar sized site in Richardson Street, South Perth for $4,300 per square metre with the same development options.
“It is currently zoned within the Mends Street sub precinct that allows for office and mixed-use development, but, ultimately, it could serve any number of potential uses.
Delich said a 12 storey building on the site could provide a mix of retail, residential and commercial uses, with the majority of the building offering stunning river views in all directions.
It is currently occupied by a block of 23 two-bedroom apartments that would provide some holding income while development plans are being approved.
Delich said the site was passed by tens of thousands of vehicles each day, ensuring exceptional profile and exposure, as well as excellent accessibility.
The property at 96 Mill Point Road will be sold by Offers-to-Purchase closing on Wednesday, November 20. 


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South Perth site provides huge development potential

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The federal government’s plan to develop a one-stop shop to streamline environmental approvals has pleased developers.  
“It is good news that (federal Environment Minister) Greg Hunt has announced a one-stop-shop approach to rationalising the complex system of environmental approvals across Australia,” said Urban Taskforce CEO Chris Johnson. ‘’But it will need all the states to join in.’’  
The Urban Taskforce is a property development industry group of developers and equity financiers.  
Johnson said developments in the past had been held up ‘’for months and even years’’ as state and federal government environmental and planning departments had separate approval processes.  
“We have had projects in Sydney that had state approval but were then ‘called in’ by the Commonwealth, effectively overriding the state approvals. Clearly, this gives no confidence to allow a project to proceed.’’  
Johnson said the Urban Taskforce urged all states and territories to sign bilateral agreements with the federal government so that environmental approvals can be streamlined.  
“We also call on (Hunt) to review the extent of the criteria used to trigger approvals. Earlier this year the Commonwealth placed an approved development in Parramatta at risk because of heritage views from old Government House being used to ‘call in’ the project.  
‘’This demonstrates that some environmental criteria can be misused to the detriment of a state-approved project.’’
 
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Developers urge states to sign on to federal plans for environmental approval

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This article is the first in our series taking an in-depth look at the Melbourne suburb of <a href="/news">Fitzroy</a>.
The real estate market in Fitzroy is having a good time of it, according to long time agent Andrew Bennison, of Bennison Parker. "I’ve been here 13 years and this is probably the best 12 months I can remember," he said.
"Interest rates are low and there’s an expectation they will fall once again before Christmas."
Bennison said the area had many positives: "People are looking for a better lifestyle here with the vibrant cafe culture, the handy proximity to the city, and good public transport.’’
Those moving in are often the younger set and also the empty nesters. Bennison said the "top end" of Fitzroy – with its substantial modern properties and older, but modernised, terraces – attracted the older demographic. Prices could be as high as $2 million.
Renters, usually in the younger demographic, pay around $550 to $600 a week for two-bedroom apartments or terraces. Yields are around 3.5%.
Nelson Alexander Fitzroy’s Janine Ballantyne agreed the market was strong. "We are doing pretty well," she said, "especially with single fronted terraces."
The average price for these popular designs, built in the 1880s and 1890s, is $850,000-$1 million for those on 150 square metres or more.
Ballantyne’s comments were borne out during the auction of <a href="https://www.realestate.com.au/property-house-vic-fitzroy+north-114938795" target="_blank">80 Best Street, Fitzroy North</a> last Saturday. The sale price of $988,000 trounced pre-auction estimates of $750,000 to $825,000 – no doubt leaving the owners and agents delighted.
{yoogallery src=[images/stories/2013/10/21/fitz2]}
The single fronted brick terrace has a new verandah and garden. It has a functional floor plan with two double bedrooms opening from a double-arched hallway, spacious living room and large kitchen and dining room.
A central period-style bathroom with claw-foot bath and shower opens to a central courtyard. Features include polished timber floors, period detail and gas heating. There’s a pergola covered brick-paved courtyard with right-of-way access. The tightly-held precinct is close to St Georges Road, Edinburgh gardens and the Inner Circle bike path.
Collins Simms’ long time agent Stephen Whitelaw said there was strong demand for real estate with his firm achieving a 95% auction success rate so far this year. "Demand for properties of all sorts is steady, particularly in the lower and middle sectors."
Prices of $800,000-$1.2 million are common with many potential buyers looking for apartments, terrace homes and townhouses.
Whitelaw said the middle to upper sector was not as "robust". Buyers here are seeking better located single fronted houses or renovated family homes, with the best price paid so far this year being around $2 million. Rentals are "price sensitive".
Agents Belinda Lindsay and Angela Coates, of Collins Simms Real Estate, will auction <a href="https://www.realestate.com.au/property-house-vic-fitzroy-115062555" target="_blank">164 Nicholson Street, Fitzroy</a> (pictured below) on Saturday, November 2 at 10:30am.
{yoogallery src=[images/stories/2013/10/21/fitz3]}
The ornate Italianate terrace is adjacent to the Carlton Gardens. I has a triple-arched facade and impressive interior. The Italianate Victorian balcony terrace has an arched hallway, four bedrooms (or three and large lounge room), formal sitting and dining rooms and family/meals area opening onto a deck. There’s a granite kitchen with European appliances, two bathrooms, laundry, marble open fireplaces, magnificent ceilings, polished floorboards, attic storage and right-of-way.
It’s just a walk to Lygon and Brunswick streets, the CBD and Melbourne University.
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"Best 12 months I can remember": Fitzroy agents revel in the good times

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Comprehensive information on Queensland’s social housing system is now available online for the first time through the government’s <a target="_blank" href="https://www.data.qld.gov.au">Open Data</a> website.  

Housing and Public Works Minister Tim Mander said the data includes information on social housing wait list times, number of applications, number of tenancies, market rent comparisons and other dwelling data.  

“This information provides a snapshot of the social housing system and will be particularly valuable to the community housing organisations and wraparound service providers seeking a greater role under the government’s Housing 2020 strategy,” he said. 

As well as social housing information, the data would also provide a greater level of detail on other types of housing assistance available through the department. 

“As well as the basic social housing data, there is also information on our range of private rental and assistance schemes, including RentConnect and Home Assist Secure,” Mander said.

“We will also provide details on the number of households assisted for National Rental Affordability Scheme properties.”

Mander said the Newman government was committed to improving government accountability and transparency through the proactive release of public sector information. 

“This information belongs to the people of Queensland and we believe it should be freely available to everyone,” he said. 

The Open Data website is at <a href="https://www.data.qld.gov.au/">www.data.qld.gov.au</a>.
 
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Queensland social housing information available online for the first time

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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