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A donation of $400,000 to the National Centre for Asbestos Related Diseases will help fund genomic research into the fatal disease mesothelioma.
The money was provided by the HIA Charitable Foundation with a ceremony at the HIA office in Perth, recognising its significance.
“Asbestos related disease has already taken a significant toll on members of the building industry and the wider community,’’ said HIA spokesman Greg Weller. ‘’With the latent nature of mesothelioma it can be expected that the problem will be with us into the future.’’
The funds will support a research project to identify genetic changes that occur in a sequence of DNA where the cancer is present. Identifying changes in specific genes is the first step towards developing treatments for patients.
This cutting edge work will be undertaken jointly by NCARD and the Queensland Centre for Medical Genomics.
The donation comprises $375,000 sourced by the Foundation and includes generous contributions from West Australian philanthropists Dale and Jan Alcock, and building group Alcock Brown Neaves, of which Dale is managing director. A further $25,000 was donated by WA Charity Direct.
“Funding research into the disease has been one of the highest priorities for the HIA Charitable Foundation since its formation,’’ said Weller. ‘’It is also recognised that because genomic research is very expensive, private sector donations such as this are essential.’’
HIA staff and the association’s members held fundraising activities and events throughout the year to raise money for the cause, Weller said. “Today’s presentation shows the way for all in the building industry to generously support the HIA Charitable Foundation and its endeavours.”
To find out more about the HIA Charitable Foundation or to contribute visit  www.hia.com.au/foundation or call 07 3021 8813.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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staylor-63KgDrKwoY

Housing Industry Supports Cutting Edge Research 

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Homeless people will benefit from a partnership between the Real Estate Institute of Western Australia and The Salvation Army.
It is part of REIWA’s Community REInvest program to help agents and property managers provide money and support to worthy causes throughout WA.
And, to kick-start the partnership, REIWA is sponsoring The Beacon, a 102 bed, multi-storey homeless men’s shelter in East Perth to open in February 2014.
Chief executive Neville Pozzi said members wanted a role in helping community causes and were keen to contribute. “Most real estate agencies already have strong charity connections in their local communities, whether for medical research, volunteer bushfire brigades, local community groups or animal rescue centres,’’ he said.
“However, REIWA itself did not have a philanthropic cause on which to focus. It makes sense that agents working in the housing sector and dealing with people and accommodation issues every day would be keen to get involved with helping those less fortunate and for whom home ownership, or a secure rental, is out of reach.”
The Salvation Army has assured sponsors that all funds will go to support deserving clients around the state.
Pozzi said that REIWA members in Community REInvest would make a monthly contribution to the cause. “I am confident that REIWA agents will contribute at least $250,000 in the first year of this program and that it will grow each year after that,’’ he said.
“Our members are really looking forward to Community REInvest being able to give something back to the community, either financially or through volunteering.”
The Salvation Army’s Warren Palmer said the initiative would help provide much needed accommodation to vulnerable people in the community. “Despite WA being a very prosperous state, some people fall through the cracks and need our help. The assistance that REIWA agents can give us is greatly appreciated and the money will be spent in practical ways where it is most needed.
"The Salvation Army is proud to partner with REIWA and the real estate sector. We recognise that the home remains the centrepiece of human need and family structure in our community and we’re excited to have REIWA as our foundation partner of The Beacon.’’
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Christmas charity considerations: REIWA helps homeless

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All the clichés in the world can’t sum up the importance of a ‘home’ at Christmas.  
Those who have a nice, comfortable home, and loving family to share it with, might find it easy to underestimate what life would be like without one.  
Sure, we see beggars on city streets, some with their hands out for small change and others sleeping rough under railway bridges and in parks. Tough life for some ...  
But they’re not people we have to worry about, are they? Doesn’t someone else look after them?  
Luckily for ‘them’, that ‘someone’ is an ever-reliable presence in times of need: The Salvation Army.  
And yet, in these times of national prosperity, when most of us seem to have too much, The Salvos have released a first of its kind national snapshot of the homelessness services they provide and an insight into the people they assist on a daily basis.  
As the largest provider of homelessness services in Australia, the report reveals the Salvos helped 22,594 people in the six months to December 31 last year.  
This important report identifies that large numbers of the disadvantaged attribute their desperate homeless situations to family and domestic violence, a lack of affordable housing, and poverty. Fifty-three per cent of women, for example, accessed Salvation Army women’s homelessness services to escape family and domestic violence situations.  
“This report shows for the first time the extent of The Salvation Army’s work with homeless people across Australia. It emphasises our strong commitment to working with people with complex needs, often with no one else to turn to,” The Salvation Army’s Dr Bruce Redman said.  
“Our 155 homelessness services tell us that these clients struggle to find somewhere to live. The report confirms this, with 44% of people turning to the Salvos because of issues associated with housing affordability and housing crisis.  This is still a major national social problem that needs resolving.”  
Dr Redman said the Christmas period was the most difficult time of year for families and individuals in need.  
‘’We urge Australians to remember the women, men and children who will not share in the joy and hope of Christmas time, who don’t have family to turn to, and who don’t have a roof over their heads.  
‘’All of us can make a huge difference to those experiencing hardship by making a donation to The Salvation Army’s Christmas Appeal this year.”  
In December, The Salvation Army assists three times more people than any other month. And over the Christmas period they will provide care on more than 300,000 occasions.  
On Christmas Day more than 8,000 people - who do not have somewhere to celebrate - will share in a Christmas meal at a Salvation Army centre.  
The Salvation Army Homelessness Report shows:
<ul>
<li>
155 Salvation Army homelessness services operate across Australia.
</li>
<li>
More than 310,000 accommodation days were provided between 1 July 2012 and 31 December 2012.
</li>
<li>
53% of women accessing Salvation Army SHS women’s services identified domestic and family violence as their main presenting issue.
</li>
<li>
44% of clients accessing Salvation Army SHS services identified housing affordability or housing crisis as their main presenting issue.
</li>
<li>
One in five clients accessing Salvation Army SHS services who provided information on their mental health have been diagnosed with a mental health issue.
</li>
<li>
One out of every eight clients who seeks homelessness services goes to a Salvation Army centre.
</li>
<li>
17% of Salvation Army clients identified financial difficulty as their main problem.
</li>
<li>
25% of clients accessing Salvation Army homelessness services have been homeless for more than six months.
</li>
<li>
Over 80% of Salvation Army SHS clients identified government support payments as their main source of income.
</li>
</ul>
  People can make a difference to those experiencing hardship by making a donation to the Christmas Appeal online or by calling 13 SALVOS.  
<a target="_blank" href="mailto:staylor@propertyobserver.com.au"></a><a href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>    
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Christmas charity to consider: Salvos' homeless assistance

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Residents in units and townhouses are asked to be mindful when decorating this Christmas to avoid unnecessary disputes with neighbours and potential fines.
Archers Body Corporate managing director Colin Archer said most bodies corporate had bylaws requiring approval to install Christmas lights on balustrades for safety reasons and in consideration of neighbours.
“Unit owners should check with their body corporate before installing lights and decorations to make sure they aren’t in breach of any bylaws,” Archer said.
“At this time of year, committees tend to be fairly lenient as most people enjoy the community spirit, however, it is important residents do due diligence to ensure all decorations comply with complex standards and don’t create any safety hazards.”
Archer said bodies corporate did not always want to be a “Grinch” but had to follow the bylaws to ensure all tenants are happy and safe.
“Bodies corporate should encourage unit owners to decorate within reason during the Christmas season to build a sense of community within a complex,” he said.
“There have been cases of unit owners being fined for their Christmas decorations if they are in breach of scheme bylaws.
“Bodies corporate should use this time of year to reconnect with owners and ensure they all feel part of the strata community.”
Archer had these tips for body corporate committees this Christmas:
<ul>
<li>State the period when Christmas lights can be installed and what date they must be removed. Typically these dates range from December 1 to December 31.</li>
<li>If building aesthetics is an issue ensure all tenants are aware of what type and colour lights are acceptable.</li>
<li>Communicate any rules as to the number and position of Christmas lights and decorations. If they can only be fixed to balustrades, make that clear.</li>
<li>Make tenants aware of what’s not allowed and why. For example, a six foot inflatable Santa Claus could pose a safety hazard or flashing lights on a balcony could upset neighbours directly opposite.</li>
<li>Have some fun – encourage a Christmas light competition between owners or charge a small fee to those who decorate and donate it to a Christmas charity.</li>
</ul>
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Lighting up your unit this Christmas

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Gosh, it’s that busy time of the year again. Everyone’s in a rush and there’s so much to do: get presents for the kids, book the annual holiday and plan for Christmas dinner.
Then, you have to move out of your rental property and find a new one to lease before the kids start school in January.
"What? Haven’t you found a place for us yet?" asks your better half incredulously. "You were going to do that weeks ago! What are we going to do now?"
Gee, better get cracking. It’s going to be busy out there:
Rob Exell, regional manager of the publicly-listed Run Property Group, which has 11,000 properties under management in Victoria, said the rush was always on pre-Christmas and early January as relocating tenants tried to get their children enrolled in new schools.
This is especially relevant as many – even primary schools – have catchment zones where their pupils must live or they can’t go there.
"So you can see how important it is for them to get settled in the right location," he said.
Excell says there are "quite a lot of properties available for rent at the moment, with a good turnover. We’ve had a lot of applications over the past six months and there is a good supply."
He pointed to a recent Run survey which found 197 two-bedroom properties for rent in the St Kilda and St Kilda East markets alone. They were seeking rent of $380-$450 a week.
"At the moment I am advising prospective landlords – often older couples who may be downsizing –to smarten up their homes in order to attract tenants. They should be recarpeting, repainting and renewing all aspects of their homes in order to set a point of difference.
"We are finding that there are so many new or well-done-up properties available that tenants are asking why they should rent old properties when they can rent new ones."
Excell said a frequent "sticking point" was an older property’s presentation – or lack of it. "Spending $7,000 or $8,000 on renovations is money well spent. From the landlord’s view it may not be a reasonable proposition, but the potential loss in rent would cost half that amount anyway."
Scott McIlroy, director of Hocking Stuart’s inner-north office covering the popular rental areas of Brunswick, Carlton and Fitzroy, said leasing inquiries were strong until mid-December before fading until mid-January. "We get people wanting to be settled by Christmas so they can relax and before they go on holidays, but people are looking all the time – they have their reasons.
"Actually, February is far busier than January because of university enrolments and early work starts, and of course, being on the northern side of town we are usually frantic because we are close to a major hospital, the university and access to the airport."
While the rush in the lead up to Christmas affects both vendors selling property and tenants seeking leases, there is often a major difference in their attitudes to property. "Renting is totally different to selling," McIlroy said.
"Tenants tend to be more picky than property buyers, who don’t mind overlooking certain shortcomings as they know it will be theirs soon. On the other hand, tenants have lots of options and they know they can pass on properties not up to their standard. They won’t pay extra."
McIlroy’s office – with 2,300 properties on its rent roll – is a "good litmus test doing 400-500 new rentals a year", he said.
His tip to prospective landlords in the lead up to Christmas is to present their properties as best they can. "A lick of paint and perhaps some new carpet will make a lot of difference to the new tenant," he said. "And, with online listings, a house looks so much better with good quality furniture – even if it’s hired for the occasion."
On-screen, even <a target="_blank" href="https://www.propertyobserver.com.au/news/does-virtual-furniture-assist-property-marketing-campaigns/2013110566105">virtual furniture can bring a room to life</a> where there were only drab painted walls.
Alex Musman, of Thomson Real Estate Murrumbeena, said the feeling of an approaching Christmas "deadline" for renters – and landlords - was exacerbated by the looming holiday period. "We are closed over Christmas and so there’s no ability for us to let a property then," he said. "I feel the pressure because if we can’t get a suitable tenant in before the break then the landlord will be losing money.
"We know when a property’s coming up for rent in this busy period so we really push it."
In what he describes as a ‘tenants’ market’, Musman said Thomson had 60-70 properties coming up for rental and it was "very important that we get them let".
He said it "seems strange" that there are so many rental vacancies on the books but a lack of confidence in the jobs market - and the availability of so many other properties - may have enticed tenants to seek new digs.
Whether you’re a landlord or tenant, the pre-Christmas property rush can be daunting. To succeed in finding a tenant, or a house to rent, start spreading the message to as many people as possible. Use real estate search engines Nestoria, Flatmates, or Gumtree as well as the more established realestate.com.au or domain.com.au.
But don’t stop there: By putting eye-catching flyers in neighbours’ letterboxes, or handwritten notices saying ‘Tenant wanted’ or ‘House wanted’ and your details on shop windows, or the supermarket notice board, you can achieve results.
So, what’s stopping you? Get onto it. Christmas is nearly here!
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
 
 
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Christmas rush trying time for renters, landlords

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When the school year ends, students usually let their hair down by running amok on schoolie holidays: swimming, getting sunburned, partying and getting drunk – all in that order.
But not everyone: Luke Moore and Natasha Naido, of Gosford on the NSW Central Coast, celebrated with a three week ‘’adventure’’ around Vietnam, Japan and, most importantly, Cambodia, where they visited the rural village school their fundraising efforts had built.
The project began when the Central Coast Grammar School students were casting about for a worthwhile project as part of an extra activities program in their HSC year. They had visited Cambodia on a school program previously and saw first-hand the charitable work of Tabitha, a non-profit organisation which runs self-help programs focusing on personal and financial development.
<img alt="luke_dec_18_one" src="/images/stories/2013/12/18/luke_dec_18_one.jpg" height="264" width="470">
Back home, they decided to help the foundation and set about organising a range of fundraisers. These included a movie night - with ‘Skyfall’ the attraction, followed by a concert with help from the local council, a trivia night and a Cambodian food night. All up, the pair raised a commendable $26,500 over 10 months. Of this, $25,000 built the school and $1,500 went towards digging wells in a country where safe water is a priority.
‘’This time last year we held our first event and it’s culminated in the building of the school which has 200 students aged four and a half to 16 and four teachers,’’ Natasha, 17, said.
As she explained in a letter to Tabitha: ‘’We were driven for hours along the highway from Siem Reap and along dusty roads into the Banteay Meanchey Province. Pulling around a corner we were stunned to see 200 neatly uniformed students lining the road, clapping and cheering and running after the bus to where their school stood. ‘’We were involved in a handing over ceremony to the main four teachers and shown around each of the classrooms in which we were able to ask about their subjects and ambitions through the translator. Many of the students told us they wanted to be policemen, teachers and doctors which made the whole experience so rewarding. ‘’What struck me most about our visit to the school wasn't the large building, the sign bearing our names or the enthusiasm with which the students approached their studies. It was simply that the children were so happy to be going to school every day with their friends and learning about new things.
‘’In Australia - where we often take school for granted - a lot of the time we forget the simple fact that education is a joy. Although the facilities, opportunities and teachers were great, I have no doubt these children will succeed in their studies simply because they love going to school. ‘’I hope you'll enjoy the photos I've attached, especially the cheeky smiles of the students.’’
Natasha said the festive season reminded us of the gift of giving: ‘’For me it is a time to appreciate again the generosity of all those who helped us to achieve our goal in Cambodia.’’
Now, after enjoying the bonhomie and laughter from a sea of smiling young faces, she and Luke can relax and celebrate a job well done.
<img alt="luke_dec_18_two" src="/images/stories/2013/12/18/luke_dec_18_two.jpg" height="294" width="470">
Ian MacDonald, director (volunteer), of Tabitha Foundation Australia, described Natasha and Luke as ‘’amazing’’.
‘’I couldn’t believe when Natasha first contacted me. She’d found out about us and our cause and was doing her ‘due diligence’ on us. I was amazed at her maturity.’’
He explained that the Tabitha Foundation, the Australian fundraising arm, focuses on three major activities in Cambodia to assist its poor, but rapidly growing, population: the building of houses for the poor, the building of schools for a rising school-age population, and the digging of wells, with a target of 3000 by September 2014.
Support comes from corporate benefactors, general fundraising, philanthropic individuals, and from those wanting to donate to a worthwhile cause, such as the man whose wife had died of cancer and who was eager to fund a school in her honour.
Tabitha – founded in 2002 - has minimal overheads and running costs. Funds raised help the poorest people in Cambodia by running self-help programs focusing on personal and financial development. As communities transform and evolve out of poverty, there is an increased need for schooling and this is where Tabitha takes on a different form.
MacDonald said a program termed “Family Development through Savings” - a sort of micro-banking program - was the key to Tabitha’s success in Cambodia.
‘’At any one time, Tabitha is assisting over 59,000 families - or 472,000 people - to save their way out of desperate poverty – getting them to help themselves,’’ he said.
‘’We go to the villages and encourage people to put aside small amounts each week, to set savings goals and generate a sustainable lifestyle.’’
So far, over 187,000 families – 1.5 million people - have ‘graduated’ from the savings program, MacDonald said, with participation a pre-requisite for inclusion in other Tabitha programs.
Community development is achieved also by providing employment and income by teaching and selling Cambodian handcrafted items, and house-building by volunteers for families who cannot afford a home. The aim is to transform lives to fruitfulness with dignity.
So far, Tabitha Foundation has raised more than $6.6 million – all of which has directly supported projects in Cambodia.
Australian property professionals, including Destiny Financial Solutions' Margaret Lomas, have also supported the program by donating time and money.
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Christmas charity for home building: The Tabitha project

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Home services tradesman Todd Buzza, of Vermont South, is the subject of a public warning by Consumer Affairs Victoria.
The director, Dr Claire Noone, says Buzza is a former bankrupt who advertises cheap building services using several business names: Superfinish Oz Pty Ltd, Superfinish Plaster, Fine Plastering, Buzza Constructions, Buzza Corporation, Smart Bathrooms and All Plastering Services.
She said CAV had received complaints alleging he had taken payment for work he has not done, not completed or carried out to a poor standard.
"Home owners should be wary of handymen advertising cheap or heavily discounted work, providing low quotes or asking you to pay large deposits," Dr Noone said.
In December 2012, Buzza was convicted in Ringwood Magistrates' Court of failing to disclose his bankruptcy to customers after he was prosecuted by the Insolvency and Trustee Service Australia (now known as the Australian Financial Security Authority).
Dr Noone advises home owners thinking of hiring a tradesman to do their own checks, and take specific steps:
<ul>
<li>Get at least three quotes on the same detailed description of the job.</li>
<li>Check the reputation and references of any handyman or tradesperson before hiring them. Search for names, registered business names and an Australian business number (ABN) online, and contact previous clients for references. An established business will be able to provide references.</li>
<li>Confirm the tradesperson or builder is registered or licensed for the type of work they will be doing.</li>
<li>Have a written contract for all work – even small jobs – that clearly specifies the work to be done and the total cost. Put any agreed changes in writing.</li>
<li>Do not pay excessive - or cash - deposits.</li>
</ul>
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Victorians warned for cheap handymen over Christmas season

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Older, more established suburbs like Preston in Melbourne’s north have come into their own as popular residential areas.
And not without good reason: they are within easy commuter distance of the city, they are near work opportunities and public transport is laid on. Northland shopping centre is not far away.
On top of this, there’s a huge variety of existing housing stock, many Californian bungalows and brick veneers, and a new influx of apartments and units. Something for everyone it seems...
The result of this popularity has been a surge in median prices for houses and units.
Australian Property Monitors’ chief economist, Dr Andrew Wilson, said Preston was one of the more popular ‘growth’ areas in Melbourne’s northern ‘middle ring’ of suburbs.
It’s still a growth suburb as regards property prices and it is still ‘gentrifying’, but it was one of the better performing suburbs in Melbourne this year,’’ he said.
Preston had 211 sales in the six months to November 30 for a 75% clearance rate (as against Melbourne’s 71%). The median house price is $630,000 and median unit price $400,000 – both higher than the Melbourne median - and 5% higher than three years ago.
House prices are up 9.6% over the past 12 months and unit prices 6.4%.
Wilson said the former working class and migrant suburb was attracting buyers because it was still affordable and because of its established infrastructure, especially public transport. ‘’It doesn’t have the rows of quaint Victorian houses of some neighbouring suburbs but it does have a good spread of housing stock.
‘’It’s ticking all the boxes with rising prices, an increase in sales and higher clearance rates. Prices will probably moderate next year but Preston will still offer good value to buyers.’’
At the 2011 Census, Preston had a population of 29,925 – and a host of real estate agents.
Senior salesman at Peter Markovic Real Estate, Angelo Scambiatterra, said the Preston real estate market was staying high – welcome news for vendors. He said property values in the suburb, 9km from the CBD, had ‘’skyrocketed over the past two years although they are still a bit lower than in neighbouring suburbs Thornbury or Northcote’’.
Sales volumes are ‘’a bit down at the moment – from 300 to around 240 properties on the market’’, but demand is still strong.
The suburb has many appealing residential locations with wide, tree-lined streets and a stock of double fronted Californian bungalows on 500-620 square metre blocks. Prices range from $700,000 up to $1 million.
Many areas are magnets for developers, such as along St Vigeon’s Road, where five established family homes ‘’all in a row’’ were knocked down and replaced by four town houses on each block. There’s also been a lot of townhouse redevelopment along The Broadway and in the side streets off Cheddar Road, as well as an enormous amount in neighbouring Reservoir.
‘’The bottom end of the market is around $400,000-$450,000 and the top end is in the Oakhill estate off High Street where prices are $750,000-$1 million,’’ Scambiatterra said.
‘’Most residents are owner-occupiers: families with children at local schools. There are a lot of people in the 30-50 year age group with most wanting to live there rather than simply invest.
‘’Darebin Council does a good job and there are low rates and good infrastructure.’’
Wendy Jeng, director of YPA estate agents in Preston, said State Government guidelines on higher density development would make it easier for developers to buy and rebuild apartments and townhouses in the northern growth corridor – from Preston through Reservoir and Epping.
‘’Since the guidelines’ release (in July) the market has picked up with greater interest – especially from developers but also from prospective home buyers wanting houses,’’ she said. ‘’Most vendors seem to be getting used to the new rules and evaluating their position before acting.’’
Jeng said Preston had long been a migrant suburb – first with Greeks and Italians post-war and later attracting Asians - mostly Vietnamese, Chinese, Indian and Korean. A cosmopolitan atmosphere added to its appeal.
She believes high property prices will remain steady next year, as will interest rates. The low dollar – which has been making it easier for foreign home buyers and especially the Chinese in other areas – won’t have much local effect. ‘’We don’t have many overseas buyers in Preston.’’
<a href="https://www.ypa.com.au/listings_residential_id/15693/property_details">https://www.ypa.com.au/listings_residential_id/15693/property_details.html</a>
<a href="/news">https://www.propertyobserver.com.au/data/suburb/preston-vic</a>
<table border="0" cellpadding="0" width="267"><tbody>
<tr>
<td colspan="3">
House prices
</td>
</tr>
<tr>
<td>
Median sale price
</td>
<td colspan="2">
$605,000
</td>
</tr>
<tr>
<td>
Change in median price in last year
</td>
<td colspan="2">
4.9%
</td>
</tr>
<tr>
<td>
Change in median price in past five years
</td>
<td colspan="2">
25.8%
</td>
</tr>
<tr>
<td>
Average discount
</td>
<td colspan="2">
-8.3%
</td>
</tr>
<tr>
<td>
Average time on market
</td>
<td colspan="2">
79.8
</td>
</tr>
<tr>
<td>
Average hold period
</td>
<td colspan="2">
11.8
</td>
</tr>
<tr>
<td>
Median price for houses $350k to $750k
</td>
<td colspan="2">
$580,000
</td>
</tr>
<tr>
<td>
Median price for houses over $750k
</td>
<td colspan="2">
$826,000
</td>
</tr>
<tr>
<td colspan="3">
Rents
</td>
</tr>
<tr>
<td colspan="2">
Median asking rent
</td>
<td>
$390
</td>
</tr>
<tr>
<td colspan="2">
Indicative gross rental yield
</td>
<td>
3.4%
</td>
</tr>
<tr>
<td colspan="3">
Unit prices
</td>
</tr>
<tr>
<td>
Median sale price
</td>
<td colspan="2">
$391000
</td>
</tr>
<tr>
<td>
Change in median price in last year
</td>
<td colspan="2">
-0.2%
</td>
</tr>
<tr>
<td>
Change in median price in past five years
</td>
<td colspan="2">
9.6%
</td>
</tr>
<tr>
<td>
Average discount
</td>
<td colspan="2">
-6.4%
</td>
</tr>
<tr>
<td>
Average time on market
</td>
<td colspan="2">
67.3
</td>
</tr>
<tr>
<td>
Average hold period
</td>
<td colspan="2">
7.4
</td>
</tr>
<tr>
<td>
Median price for units $350k to $750k
</td>
<td colspan="2">
$453,000
</td>
</tr>
<tr>
<td colspan="3">
Rents
</td>
</tr>
<tr>
<td colspan="2">
Median asking rent
</td>
<td>
$333
</td>
</tr>
<tr>
<td colspan="2">
Indicative gross rental yield
</td>
<td>
4.4%
</td>
</tr>
</tbody></table>
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a> 
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Suburb spotlight: Preston coming into its own with prices surging

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Pacific Fair on the Gold Coast will be transformed into a world-class shopping destination with a major $670 million redevelopment to begin next month.
The investment will make it the largest shopping centre in Queensland and the fourth largest in Australia.
The redevelopment will include a new Woolworths, a relocated full-line Coles supermarket (which will anchor the new fresh food marketplace), David Jones, Big W, around 100 new specialty stores and 1,300 additional parking spaces.
The centre will be integrated with a two-level mall connecting the new and existing sections, adding 46,500 square metres of retail space.
On completion Pacific Fair will cover 150,000 square metres with 420 shops, restaurants and entertainment destinations under the one roof.
AMP Capital Shopping Centres managing director Bryan Hynes said AMP Capital will create an exceptional luxury shopping and leisure experience that will attract residents as well as international and domestic tourists.
“The Gold Coast is Australia’s No. 1 tourism destination with more than 11.5 million visitors each year, so attracting tourists is a key focus for the centre.
“Pacific Fair will be a Gold Coast ‘must-visit’ destination with five-star resort ambience and a unique indoor/outdoor environment reflecting the Queensland lifestyle.
“While this will appeal to tourists, it will also provide residents with an exceptional local destination for shopping, dining, leisure and entertainment.”
As the fastest-growing region in Australia, the Gold Coast continues to rapidly attract new residents for its lifestyle, climate and opportunity, Hynes said.
“AMP Capital saw an opportunity to grow and expand the centre to meet this predicted growth as we aim to provide investors with consistent performance on their investment.
“The project will boost the Gold Coast economy by creating around 1,600 construction jobs and 950 retail jobs on completion. We continue to look at opportunities for long-term investment in Queensland.”
AMP Capital has appointed Westfield Design and Construction to build the development, with an expected completion date of late 2016.
Pacific Fair is managed by AMP Capital Shopping Centres and is owned by AMP Capital managed funds after acquiring the 40% share formerly held by Westfield Group and Westfield Retail Trust in 2012.
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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AMP Capital kicks off $670 million redevelopment of Pacific Fair

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A prominent Sunbury retail site occupied by Kirkham Homes sold for $822,000 last week. The price represents a yield of 6.5%.
The corner site was among 15 offerings put under the hammer by commercial agents Burgess Rawson at Crown Casino.
The builder has had offices at 5/92 Evans Street since 2002. Its lease extends until 2021.
The 120 square metre shop, with a 24 metre dual frontage, adjoins a Harris Scarfe outlet and is handy to Big W, Woolworths, Foodworks and Coles. The rent is $53,396 with annual CPI reviews.
Auctioneer David Scholes said the area had a fast-growing trade catchment of 60,000 people.
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Prominent Sunbury retail site sells at auction for $822,000

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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