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Trent Cattanack, of Harcourts Redcliffe, is bemoaning the lack of stock for sale in this picturesque suburb north of Brisbane, with listings down 35% since May.
On the plus side he says there’s an improved time-on-the-market figure which is down from 100 days to 30/40 days as vendors ‘’come to the party’’ with more realistic price expectations.
Originally named Red Cliff Point by explorer John Oxley, the suburb became the state’s first colony in 1824. Although later abandoned for Brisbane it became a popular holiday resort from the 1880s because of its proximity to the capital and natural attributes.
An ideal climate, sandy beaches and appealing scenery provides an ideal living environment for families, yet decent houses can still be bought for less than $300,000, Cattanack says.
With generally older housing stock and a stable population – ‘’many residents have been here 40-plus years’’ – he says gentrification is coming with one developer having five projects and hundreds of apartments in the pipeline.
High rise is not a feature of the suburb so far with building heights of around eight storeys at Redcliffe Towers, at 89 Marine Parade, and Warwick Tower, at 51 Marine Parade, both built in the mid-1970s. Currently, Redcliffe has a height restriction of 12 storeys along Redcliffe Parade in the CBD area.
A catalyst for development is that Redcliffe is well located about 45 minutes drive from Brisbane across the Hornibrook bridge, erected in 1935, and a 25 minute drive from the airport.
The suburb has a musical claim to fame, too: in 1958, the Gibb family with children Barry, Robin and Maurice, emigrated from Manchester, England to live there for a time before becoming the world renowned The Bee Gees singing group.
Andrew Wilson, of Australian Property Monitors, believes Redcliffe is at the start of a growth phase. In the six months to September this year he points out that median house prices rose 2.9% to $339,500 but, over the full year to September, they fell 2.2%.
The Redcliffe median is 14% down on its 2009-2010 high, as are a number of northern suburbs, such as Moreton Bay, which is down 8%.
‘’It’s a middle suburb and most Brisbane middle suburbs lost ground over the past three years,’’ he said.   ‘’We are in catch-up mode and at least 12 months from another peak. There is not a lot of buyer interest in inner Brisbane, but it is improving and Redcliffe will benefit from the peripheral interest being shown there.’’
The growth forecast is well founded. A combination of improved levels of affordability, lower interest rates, a state election next year, and a lower Australian dollar are all tipped to improve the performance of the Brisbane property market next year. Redcliffe will follow.
‘’There are some signs of improvement off a low base,’’ Wilson said. ‘’The market will flow out to the north of Brisbane but I am looking at a 12 month horizon. It’s a holiday area – a boutique market on the Redcliffe Peninsula – and it’s nominally a working class suburb despite its holiday appeal.’’
{yoogallery src=[images/stories/2013/12/05/red1]}
Above: An example of a current listing, <a href="https://raywhiteredcliffe.com.au/qld/redcliffe/1064719/" target="_blank">33 John Street, Redcliffe, Queensland</a>
Andrew Campbell, of Ray White Redcliffe, said properties were experiencing a shorter time-on-market recently, which was acting as a catalyst for quicker sales. ‘’Potential buyers ring up and the first thing they ask is: ‘Is it still available’?
‘’The shorter time frame window is prompting them to put in an offer and, hence, properties are selling more quickly.’’
The region’s average is 74 days on market and the agency’s average is 45 days.
Campbell, who’s been with the office since it opened in May last year, admits to some surprises, saying ‘’anything that’s priced right could be sold within seven to 10 days of listing’’.
Stock ranges in price from the high $200,000s to $1.5 million, with the average property listing for around $400,000. ‘’There have been no huge price increases lately but, with the less time-on-market factor, we have noticed that buyers are willing to pay a bit more.’’
Commercial sales and leasing are not a big part of the business, and with the economy picking up, people are becoming more financially stable, Campbell said. This is reflected in the few commercial leases becoming available.
You can check ou the latest RP Data stats for Recliffe <a href="/news">here</a>.
<a href="mailto:staylor@propertyobserver.com.au" target="_blank">staylor@propertyobserver.com.au</a>
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Suburb spotlight: Growth phase tipped for Redcliffe, Queensland

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A proposal by the Australian Taxation Office to slug families 10% extra tax for living in permanent caravans has been slammed by Queensland Premier Campbell Newman.

He has called on the Federal Government to reject the plan, saying it would add $15-$30 per week to rents – $1,000 per year – ‘’that they simply cannot afford’’.

The ATO plan is to add GST to rents paid by the 30,000 Queenslanders who live in permanent caravans and demountable homes across the state’s accommodation parks.

“I’ll be making it clear to the Federal Government that adding GST to the rent paid by families on their permanent caravans in parks is just not on,” Newman said.

“This draft plan earmarked by the ATO is unfair and the Queensland Government is calling on Joe Hockey to reject it immediately to give these people certainty.

“The GST paid by these residents would ultimately filter back to the state’s budget, but in this case, I‘ll be saying we don’t want it. 

“Families living in these dwellings shouldn’t be hit with this burden while others living in an apartment or a house are exempt from paying GST on their rent – it’s just not fair.”

Newman said residents would have to pay $20,000-$50,000 to remove their home from a park should they disagree with the increase.

The draft ATO ruling would apply to mixed-use parks which have both long-term residents and temporary sites for caravans or tents.

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Plan to slug caravan rents extra 10% GST slammed by Premier

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Capital city home values are increasing at their fastest pace in three years, according to the latest RP Data quarterly review of the residential property market.  
The report found that, over the three months to October, home values across the combined capital cities rose by 3.4%, and that combined capital city home values have been trending higher since they reached a low in May last year. They have increased by 10.2% since then.  
Home values across all capital cities have risen by 7.9% over the past year, and, over the 12 months to October, house and unit values have risen by 8.2% and 5.9% respectively.  
Over the past three months, both house and unit values have increased by 3.4%.  
<img alt="rolling-nov-28-one" src="/images/stories/2013/11/28/rolling-nov-28-one.gif" height="231" width="470">
Annual change in dwelling values – year ending Oct ‘13
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Capital city home values are increasing at their fastest pace in three years

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Party politics has trumped what is best for the NSW economy and the need to adequately cater for population growth, according to the Urban Development Institute of Australia (NSW).
This follows a host of amendments to the state’s planning bill which the UDIA says “spell disaster for NSW’’.
“In their pursuit to discredit each other, politicians have lost sight of the big picture,” chief executive Stephen Albin said.
“The NSW population is projected to more than double over the next 50 years, according to figures released on Tuesday by the Australian Bureau of Statistics.
“Instead of catering to this growth, MPs are considering how to stop growth by making unreasonable, uncommercial and uncompetitive amendments to the Bill – it makes no sense.’’
Albin said more people would be needing jobs that come from construction and businesses within new commercial centres, and housing. “We need to deliver more than 40,000 more homes per year to keep up with demand.
“Industry can’t supply these homes under the current Act because outdated and impractical processes make it incredibly challenging.”
Albin said the amendments proposed by other parties would put the state in an even worse position. “The amendments proposed by the Opposition threaten to take NSW even further back to dark ages,” he said.
“To think that someone living 10km away could challenge your home extension in the Land and Environment Court is absurd. And to require a developer to improve - not retain - biodiversity on a site is equally unreasonable.”
Albin said NSW already had “the most uncompetitive approval system in Australia’’ and that much of the recent recovery in the market had been a result of expectations that changes were ‘’going to be made’’.
“Overall, the situation we find ourselves in is bad for industry and first home buyers who are already struggling to get into the market and our economy.”
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Amendments to NSW planning bill "spell disaster" for the state: UDIA

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Sales activity in the Inner Brisbane apartment market maintained momentum throughout the third quarter of this year, according to Colliers International.
Its research and forecast report for the second half of 2013 shows unconditional sales reached their highest point in nine years - with 645 sales recorded across 48 projects. And this figure is expected to be revised upward after including settled sales in projects where surveys were incomplete.
<img src="/images/stories/2013/11/28/bris-stock-nov-28-one.gif" alt="bris-stock-nov-28-one" height="371" width="470">
Activity levels have remained elevated since the first quarter of the year, with both a significant number of project releases and increased sales activity.
In the 12 months to the end of September around 2,300 unconditional sales were well above the median long-term average. Although annual sales are still dominated by the Inner North, the Inner South, and to a lesser extent the Inner West, have reclaimed a significant proportion of demand in 2013 as a result of new project releases, the report said.
Prices have remained largely unchanged over the past 12 months. The September quarter’s weighted average sale price of $532,900 was 4% less than quarter two and 1% less than the same period in 2012. Largely a factor of stock type sold, the quarterly decline may be due to a higher proportion of one bedroom apartments sold in the September quarter than in June.
On an annualised basis, the weighted average sale price was $531,100 - virtually unchanged from quarter two 2013. The type of apartments still for sale in existing projects suggest the quarterly weighted average sale price may rise in coming quarters.
Underlying fundamentals support the Inner Brisbane apartment market. The lowest cash rate in our history combined with firm rents, low vacancies and a preference for inner city living - among a range of demographics - has led to increased demand.
Notably, the report says, apartments made up 95% of all approvals in the year to quarter three 2013 in Inner Brisbane. Investors are active in the market as dwelling prices remain stable and rents firm leading to rising income returns. Yields for Brisbane apartments are now well above the national average, according to RP Data-Rismark.
Developers and marketing agents report interstate buyers favour Brisbane as a desirable investment opportunity as strong price growth in Sydney and Melbourne erodes gross yields in those markets.
Should the southern capitals, Sydney in particular, sustain current levels of price growth, investors will be further attracted by the returns offered in the Inner Brisbane market.
Looking ahead, the report says around 3,200 apartments are due for release next year. As in the preceding 12 months, take-up may be moderate to firm provided demand fundamentals remain stable. Developers have identified this underlying demand and, subsequently, entered a site acquisition cycle in the past six months.
The Reserve Bank’s cash rate setting should remain ‘’accommodative’’ to household lending, the report says, as a result of the moderated economic forecast for 2014/15 that, in turn, should support apartment prices in Inner Brisbane. However, if growth in Sydney continues at an ‘’unsustainable’’ rate, the RBA may have to adjust its settings accordingly, albeit for a short period.
Sales activity in the Inner Brisbane apartment market maintained momentum throughout the third quarter of this year, according to Colliers International.
Its research and forecast report for the second half of 2013 shows unconditional sales reached their highest point in nine years - with 645 sales recorded across 48 projects. And this figure is expected to be revised upward after including settled sales in projects where surveys were incomplete.
Activity levels have remained elevated since the first quarter of the year, with both a significant number of project releases and increased sales activity.
In the 12 months to the end of September around 2,300 unconditional sales were well above the median long-term average. Although annual sales are still dominated by the Inner North, the Inner South, and to a lesser extent the Inner West, have reclaimed a significant proportion of demand in 2013 as a result of new project releases, the report said.
Prices have remained largely unchanged over the past 12 months. The September quarter’s weighted average sale price of $532,900 was 4% less than quarter two and 1% less than the same period in 2012. Largely a factor of stock type sold, the quarterly decline may be due to a higher proportion of one bedroom apartments sold in the September quarter than in June.
On an annualised basis, the weighted average sale price was $531,100 - virtually unchanged from quarter two 2013. The type of apartments still for sale in existing projects suggest the quarterly weighted average sale price may rise in coming quarters.
Underlying fundamentals support the Inner Brisbane apartment market. The lowest cash rate in our history combined with firm rents, low vacancies and a preference for inner city living - among a range of demographics - has led to increased demand.
Notably, the report says, apartments made up 95% of all approvals in the year to quarter three 2013 in Inner Brisbane. Investors are active in the market as dwelling prices remain stable and rents firm leading to rising income returns. Yields for Brisbane apartments are now well above the national average, according to RP Data-Rismark.
Developers and marketing agents report interstate buyers favour Brisbane as a desirable investment opportunity as strong price growth in Sydney and Melbourne erodes gross yields in those markets.
Should the southern capitals, Sydney in particular, sustain current levels of price growth, investors will be further attracted by the returns offered in the Inner Brisbane market.
Looking ahead, the report says around 3,200 apartments are due for release next year. As in the preceding 12 months, take-up may be moderate to firm provided demand fundamentals remain stable. Developers have identified this underlying demand and, subsequently, entered a site acquisition cycle in the past six months.
The Reserve Bank’s cash rate setting should remain ‘’accommodative’’ to household lending, the report says, as a result of the moderated economic forecast for 2014/15 that, in turn, should support apartment prices in Inner Brisbane. However, if growth in Sydney continues at an ‘’unsustainable’’ rate, the RBA may have to adjust its settings accordingly, albeit for a short period.
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Brisbane market maintaining momentum, backed by lift in demand

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All sectors of the Australian property market recorded price rises over the past year, with the ‘middle market’ reaping the strongest gains.
According to RP Data’s latest quarterly review of the residential property market, over the 12 months to October, home values across the broad ‘middle market’ suburbs had the greatest value growth at 8.1%.
Also, the most affordable and most expensive capital city suburbs each recorded value growth of 6.7% and 7.4% respectively over the past year.
And, over the past three months, home values rose across all sectors with affordable suburbs recording value growth of 2.1%, the middle market 3.4% and the most expensive suburbs 3.8% growth.
 
<img alt="rolling-nov-28-two" src="/images/stories/2013/11/28/rolling-nov-28-two.gif" height="231" width="470"> 
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Australia's 'middle market' reaping the rewards of price rises

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Although Brisbane and Gold Coast are two very different markets, they are both moving in the same direction – and that is upwards.
Colliers International’s research and forecast report for the second half of 2013 says sales rates are improving and general sentiment is positive. The new apartment market is definitely picking up the pace.
Lynda Campbell, manager research, says key factors all bode well for investors and owner-occupiers to take advantage of the affordable loans on offer.
She says residential vacancy rates are tightening which puts upward pressure on rents, interest rates are at their lowest level in decades, dwelling approvals are rising and the population is increasing.
And, the latest figures from the Australian Bureau of Statistics show housing finance for owner occupation and investment purposes are trending upwards.
‘’While the Gold Coast is just lifting off the bottom of the property cycle, Brisbane is well on its way with elevated sales rates throughout the year resulting in total sales for the 12 months to the end of September of 2,300,’’ Campbell said.
‘’Total sales on the Gold Coast for the same period are just over 700. Both markets are tracking above five-year-average figures, with Brisbane significantly above and Gold Coast just starting to gain traction.’’
Campbell said new projects recently launched in Brisbane are achieving strong sales rates while, on the Gold Coast, new projects are scarce. Going into 2014 this should change for the Gold Coast with several projects expected to be launched late this year and early 2014.
‘’Both Brisbane and the Gold Coast have a strong pipeline of future supply. With sentiment improving and key indicators positive, developers will start to move forward with projects that may have been on the back burner for several years,’’ she said.
‘’At the same time, projects which have been on the market for a number of years are starting to see an increase in sales rates and stock is being taken up at a faster rate than over the last few years.’’
Major infrastructure projects under way in both Brisbane and the Gold Coast will have a positive impact on residential markets. ‘’On the Gold Coast the $1.8 billion light rail project will create a corridor of transit oriented developments through the suburbs of Southport, Surfers Paradise and Broadbeach,’’ Campbell said.
‘’In Brisbane, the newly proposed underground rail and bus network, to cost $5 billion, will deliver a double-decked tunnel connecting Dutton Park in the south and Victoria Park in the north. These projects will see connectivity around both cities improve.’’
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Brisbane and Gold Coast trending upwards

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The capacity of international social media to enhance real estate agents’ property sales successes cannot be overestimated. It’s a resource of infinite reach and potential - and it carries details of their offerings right into willing buyers’ homes.
Coupled with this, there are almost unlimited numbers of potential buyers out there – often wealthy Chinese – who want to see and read about property of all descriptions and for almost any price.
And one country in which they are especially interested in buying is Australia.
To make social media work well, it helps to understand exactly how it fits into the online marketing process, which is where a new e-book: ‘7 Ways to Improve your International Social Media Marketing’, can help.
The author is Andrew Taylor, co-CEO of Juwai.com, who has 10 years experience in marketing and media in print, online, television and radio brands across Australasia and Pan-Asia. He was a company director and greater China country manager for REA Group, and led its acquisition and growth strategy for Asia.
As co-founder - with Sue Jong - and co-CEO sales and marketing at Juwai.com since 2010, Taylor devotes his time to market research and developing the business. He introduced world first research on Chinese property buying behaviour, the results of which went in the Juwai.com messaging and branding.
The depth of his China research, consumer market insight and property industry expertise, is now channelled into the valuable intelligence provided to customers looking to reach Chinese property buyers.
Jong is is Juwai.com’s international marketing manager, driving marketing and branding efforts and bringing relevant research and insights on Chinese buyers to customers worldwide.
Central to sales success is the “conversion process”, Taylor says.
“That’s because it’s how you ‘convert’ a random web surfer into a member of your mailing list or an out-and-out lead.
“Let’s start on the outside and work our way in. Let’s say a mainland Chinese woman named Chu Lam is considering buying an investment property. She wants something in the $5 to $10 million range, within an hour of an international airport and with oceanfront views.
“Lam hits Weibo, the Chinese version of Twitter, and searches for, ‘luxury beach property’. Because you have been active on Weibo, her search results include a couple of your recent waterfront listings. There is also a link to our e-book on your website entitled, ‘5 Tips for Choosing a Beachfront Property’. 
 
“As a good manager, you had juwai.com translate and localise both your website and your e-book into Chinese. Lam submits her email address to you on the registration form to receive the e-book. Now you have her email address. And, you know she is interested in beach-front property.
“You follow up with an email the next day. You offer to talk her through the recent beachfront sales in your area, so she can get  a better idea of the market. And, you continue to build the relationship from there – the same way you would with any lead.’’
That is how social media fits into the online ‘conversion’ process – or the process of converting inquiries to sales.
Language barriers are overcome by:
<ol>
<li>The agent or the buyer asking the Juwai.com multi-lingual call centre and account team for free help. The staff will translate communications, answer questions and, in other ways, help the agent build a relationship with the buyer. Staff can even make a phone call for the agent if he/she is having trouble reaching a number in China. Juwai.com claims to be the only real estate portal in the world with a call centre.</li>
<li>The company says many Chinese buyers will have the communications issue in mind when they start looking for property in Australia. They may have a colleague or a friend or family member who speaks English, and they often ask them to help. “For example, an agent in Mosman last year sold two plots of land to a Chinese buyer who didn’t speak English. The buyer sent a Sydney-based, English-speaking colleague to check it out before he flew into town to buy it,’’ Taylor said.</li>
</ol>
<ol start="1"></ol>
<ol></ol>
In the e-book the introductory content is for real estate marketers who are relatively new to the subject. This content includes step-by-step instructions on how to get started with this aspect of marketing and learn its fundamentals. “After reading it, they will be able to execute basic marketing tactics related to working with Chinese buyers,’’ Taylor says.
 
The intermediate content is for those familiar with the subject but who have only basic experience in executing strategies and tactics on the topic. This content covers the fundamentals and moves on to more complex advice and examples. After reading it, agents are expected to feel comfortable with this aspect of marketing to Chinese buyers.
 
The advanced content is for real estate marketers who are, or want to become, experts. “We walk you through advanced features and strategies so you can develop full mastery,’’ Taylor says.
“After reading it, you will feel ready not only to execute strategies and tactics for yourself, but also to teach others and even lead entire teams, businesses or networks to success with Chinese buyers.’’
Taylor says social media lets sellers connect with potential real estate buyers, wherever in the world they are located.
“Once you have a connection with these buyers, you can pull them forward into your marketing process, bringing them to your website, or getting them to contact you. Buyers who find and contact you directly via social media tend to be closer to a purchase than other prospects.’’
He says international buyers make up an increasingly important share of real estate transactions. And it’s not just in the traditional cities like New York, London and Sydney. “Wei Gu, of the Wall Street Journal, reports that Chinese and other international buyers are ‘increasingly snapping up properties in second-tier cities with better prices and growth potential’.
“They are going beyond the cities that have long attracted international buyers and landing in regional destinations.’’
In Australia, the cities and towns with the fast-growing Chinese buyer interest this year has included Perth, Darwin, Mandurah and Geelong — according to user data on Juwai.com. They aren’t the top areas for Chinese buyers, but they are the fastest growing, Taylor says.
“Chinese buyers don’t account for the majority of transactions. But, they account for a significant number, and they tend to be more profitable and spend more per transaction than other buyers. Chinese buyers tend to spend more than twice the median house price in a given market, according to data from the US.’’
So, you can limit yourself to the low-spending locals, or, you can use social media to attract the big-spending international buyers. If you choose the latter, follow Juwai.com’s seven-step process and you will be well on your way to international social media success.
Some tips:
Pick your target countries: 
Pick the obvious countries, either the places that are sending the most buyers to your market, or the ones where you have a cultural or linguistic advantage. If you live in Miami and speak Portuguese, it probably makes sense to include buyers from Brazil in your list of targets.
Pick your social networks: You might use Facebook to keep up with your friends, because most of them are on it. But to reach sales prospects, you have to go to the social networks they prefer.
You might be surprised how limited the international reach of networks like Facebook and Twitter are in other countries, Taylor says. While Facebook has 50% penetration in the United States, the world average for Facebook penetration is only 12.1%.
While the Middle East and Asia have a big share of wealthy potential buyers,  Facebook’s penetration is only 5% and 9%, respectively. In Russia, social network VK has 100 million active users — more than Facebook in that country. In China, QZone has 603 million users, according to China Internet Watch. 
 Set your goals:
Some local agents are content to use social media as nothing more than another customer service platform. That is, they use it as they would the phone or email, to communicate with prospects with whom they already have some sort of relationship. Others are more ambitious. They use social media to bring more traffic to their website or to give their brand more exposure, especially in new markets. 
Whatever your goals, having a coordinated, planned approach will make it easier to operate on multiple social networks, and even in multiple languages.
Decide ahead of time how you want to use social media, and choose your tactics accordingly.
Graphic: Chinese prefer their own social media networks
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/11/29/laptop-mediacomparison-AUS-big.jpg" title="Click to enlarge"><img src="/images/stories/2013/11/29/laptop-mediacomparison-AUS-small.jpg"></a>
Choose your languages.
Only about 1% of Chinese speak English, and nine out of 10 Europeans prefer to surf the web in their native tongue. Get the picture? When deciding which languages to operate in, focus on those used by the largest numbers of your prospects. 
 Decide how many accounts you really need. 
You might be tempted to set up a Facebook page for every language in which you’d like to work with buyers. That would be a mistake. You can achieve the same results with just a single page on Facebook using its post-targeting tool. 
Access it at the bottom of the compose box, just next to the ‘post’ button. 
Let’s say you put up an item in Russian. Use the targeting tool to select Russian speakers, or even residents of individual Russian cities. Other social networks have similar tools.
Once you have created your new post, click on the word ‘public’ in the blue box, at that bottom of the post. Select “Location / Language” and go on to target the post to your preferred populations.
Create a destination on your website for each language. 
If your goal is to acquire new customers via social media, ultimately you will want them to visit your website. Post all of your new content for each segment of buyers on your site first. Then link back to it from your social media posts.
Once they are on your website, you will have more opportunities to capture their contact information, show them listings and persuade them to work with you. This is an extra step compared to simply posting a link in your Twitter feed to a news article, without first posting that news article on your own website.
It’s worth it. You’ll generate more direct traffic to your site. If you do a good job of converting on your site, you will then generate more leads and – ultimately– commission revenue.
 
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Securing a Chinese buyer for your property

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Auction clearance rates are much higher in 2013 than in 2011 and 2012, according to the latest RP Data report.
And the reason could be a better alignment of buyer and seller expectations, whereby vendors are more willing to meet the market price expectations of buyers than they were a year ago. And, also, with more buyers active in the market, there is now a heightened level of competition for stock.
<img alt="combined-capital-nov-28-one" src="/images/stories/2013/11/28/combined-capital-nov-28-one.gif" height="230" width="470">
The RP Data report found that, across all capital cities, auction clearance rates are hovering around their highest levels since May 2010. Throughout 2011 and 2012 combined capital city clearance rates never breached the 60% mark. But, so far in 2013, weekly capital city auction clearances have averaged 66.3%.
Despite this improvement, clearance rates remain below the levels of 2009 and early 2010.
‘’It is important to remember that auctions generally reflect the premium housing market and that less than 15% of the total capital city housing stock actually sells this way. Also, the number of properties auctioned is much higher in Sydney and Melbourne,’’ the report says.
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Auction clearance rates easily highest in past three years

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Western Australia’s residential building industry is the strongest in the country, according to the Housing Industry Association’s inaugural Housing Scorecard report.
Mining investment and strong population growth have seen the state’s economy growing quickly, but until recently residential building had been stuck in the slow lane, it said.
“However, stronger conditions more recently have taken WA to the number one  position for the first time in more than five years,” said chief economist Harley Dale. “The Australian Capital Territory is in second position with Victoria third.”
The report found that a resurgence under way in the New South Wales residential building industry was lifting the state up the table after spending the best part of a decade ‘’in the wilderness’’.
“Conditions in the residential building industry diverge widely, both across and within states and territories,’’ Dale said. ‘’The Housing Scorecard aggregates large amounts of housing information to present a concise account of the influences these divergences have on industry performance."
The report benchmarks the contemporary performance of 13 key indicators of activity in residential building against long-term averages in each state and territory. This analysis is aggregated in a scoring system to generate a league table ranking the relative strengths/weaknesses of residential building conditions in each jurisdiction.’’
The report found that, in NSW, new home building has been the driver of its resurgence, but weaker conditions in the renovations segment have held back the state’s charge up the table. ‘’Overall, residential building conditions in NSW still rank only fifth nationally, but there is clearly some positive momentum there,” Dale said.
“At the other end of the table, Tasmania is languishing in last place, continuing the run of four consecutive quarters on the bottom.
“It was not so long ago, back during the financial crisis, that Tasmania was the top ranking state for residential building. Unfortunately, the state’s broader economy has undergone a marked deterioration since then and the weaker demand conditions delivered a big hit to the state’s residential building industry.”
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WA the strongest state for residential building: HIA

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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