Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

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Former Westpoint directors Norman Carey and Graeme Rundle, of Perth, Western Australia, have been charged in the Magistrates Court in Perth on two criminal charges each, brought by ASIC.
ASIC alleges they contravened sections 184(2)(a) and 601FD of the Corporations Act.
Specifically, ASIC alleges that in January 2006, Carey and Rundle breached their duties as officers of Westpoint Management Limited and Westpoint Corporation Pty Ltd and that “these breaches occurred when they executed deeds extending the time for Westpoint Corporation Pty Ltd to exercise an option to purchase the Warnbro Fair Shopping Centre and adjoining land (WFSC)”. ASIC alleges the breaches also involved transfer of the option to purchase WFSC to Bowesco Pty Ltd, a Carey family trustee company.
Each charge carries a maximum penalty of five years’ jail. At the time of the alleged offences, Carey and Rundle were officers of Westpoint Management Limited, the responsible entity for the managed investment scheme Warnbro Fair Syndicate, which owned the WFSC. They were also officers of Westpoint Corporation Pty Ltd. The Commonwealth Director of Public Prosecutions is prosecuting the matter, which returns to court on July 15, 2011. On Friday, June 24, 2011, a jury found Graeme Rundle guilty on two charges of making false or misleading statements to a financial institution in support of a $71 million credit facility application to fund a Westpoint building of the Scots Church project in York Street, Sydney. He will be sentenced in respect of the Scots Church project in the District Court of NSW on August 12, 2011.
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lschlesinger-FZcF9M3vE6

ASIC brings  charges against Wespoint duo

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Real estate institutes have expressed concern that a national licence for real estate agents, due to commence on July 1, 2012, will lower industry standards.
 
Development of the national real estate licence forms part of the Council of Australian Governments’ project to develop a national licensing system across a range of licenced professions.
The aim of the project is to remove inconsistencies between states and territories and to enhance consumer protection.
Under the proposed scheme, the education requirement is likely to be a Certificate IV course, which can be completed in two days.
If this were to be adopted, it would lower the diploma requirement already in place in Western Australia, Northern Territory, Tasmania and South Australian.
Strongest reservations have come from the Real Estate Institute of Western Australia, where a WA Upper House committee looking into the state legislation required to meet the Commonwealth’s request recently rejecting the COAG proposal.
REIWA president Alan Bourke says on the face of it the proposal makes good sense, but if you look at the details, it will have the effect of “watering down” existing high standards and lowering the benchmark for training and for ongoing professional development.
The institute is demanding a diploma level for licensing, compulsory continuing professional development; and licensing required for commercial agency work.
Tim McKibbon, CEO of the Real Estate Institute of NSW, says industry consensus has not yet been reached on what the minimum licensing requirements should be.
But he says current entry level requirements in NSW are too low.
“You can do a two-day course over a weekend to become a licensed agent in NSW,” he says.
“Standards need rise considerably to maintain the integrity of the profession and for consumer confidence.”
REIA acting president and chairman of the Queensland institute Pam Bennett says it is imperative that “standards are not lowered for the sake of political expediency”.
"Buying a house is the single biggest investment most Australians will make. The REIA is adamant that the key to providing a low-risk professional service to home buyers is through mandating a high level of initial qualification and ongoing professional development.
“The REIA also believes that with more and more individuals having exposure to commercial real estate, either directly or through their superannuation fund, it is imperative that commercial agents are included in the national licensing system.”
Victorian institute CEO Enzo Raimondo welcomes a national licensing scheme as long as it does not result in the removal or reduction of licensing requirements.
“The move to a national licensing regime is about reducing red tape and building a seamless national economy. Reducing or removing licensing requirements is neither compatible with nor necessary to achieving that aim,” he says.
Speak in her capacity as REIQ chairman Bennett says the standard of assessment and quality of training from some training providers should be examined to “ensure newcomers to the profession learn the skills and knowledge required to not only succeeds in real estate, but to function professionally and within the multitude of laws that govern our industry”.
The government is currently preparing a consultation regulation statement on national licensing for the real estate profession.
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Real estate institutes fear mooted licensing scheme will lower standards

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<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">
Sussan fashion chain executive chairwoman Naomi Milgrom, usually dubbed Victoria's richest woman but who maintains a base on the riverfront in Sydney's Woolwich, has expanded her Byron Bay holdings. She's spent $6.2 million to buy the 1200-square-metre property adjacent to her $4.75 million acquisition in 2007. It takes her NSW far north coast hillside holding to 2130 square metres.
Milgrom's 2007 purchase was from the Asciano boss Mark Rowsthorn, who had bought the property in 2002 for $2.825 million from John Weller, the former Melbourne solicitor who made international news when he won the first case of child maintenance for a man in the 1970s.
Rowsthorn upgraded to Marine Parade, Wategos, where he paid $6.2 million in late 2006 buying from Peter Gifford, the former Midnight Oil bass player who runs the microscopic bikinis website Wicked Weasel.
Milgrom's musical tastes are slightly more refined, as she's one of the investors, alongside fashionista Peter Weiss and Transfield managing director Guido Belgiorno-Nettis, who're spearheading a new investment vehicle seeking to buy a $1.79 million Stradivarius violin.
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">It was Vaucluse's John and Jo McNiven who have apparently secured about $22 million from Chinese buyers for their hillside mansion. Title Tattle gleans it has been bought by Yang Yang, who currently gives an address as a 47th-floor rental in the multi-award-winning Lumiere Apartment complex on Bathurst Street. The McNivens, who bought a vast terrace in Potts Point last year, have regularly hired out their trophy home as the backdrop for Sydney social promotional events.
Attendees still fondly remember the 2005 evening when the Tuscan villa was the venue of a Armani perfume launch. The McNivens went out to dinner and missed the party, coming home as the last of the guests were teetering down the driveway clutching their free bottles of perfume.
The major player in securing houses for events or film crews in Sydney is Anthony Morano, who was spotted last month checking out a double apartment in the landmark Aaron Bolot-designed 1951 Wylde Street, Potts Point apartment block. It fetched $1.36 million last weekend through BresicWhitney agent Anthony Ross, but not to Morano.
 
<img src="/images/stories/brendanmoar.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Celebrity gardener Brendan Moar – who’s soon to host The Renovators on Channel Ten – secured $1,036,000 for his recently sold Newtown terrace (pictured above) in Sydney’s inner west. It sold pre-auction at an undisclosed price, with viewers at the final open for inspection being told they needed to pay $1 million to secure the 1890s terrace. A check on the official records reveal its $1,036,000 price tag. It fetched well above Moar’s initial $900,000-plus hopes through Ray White Surry Hills agents Timothy Gorring and Shaun Stoker. It was 2004 when the landscape architect paid $686,000 with Cathy Wadling, with the terrace very much reflecting Moar's creative flair with airy interiors and a newly landscaped wraparound courtyard. It had three bedrooms plus a study.
 
 
<img src="/images/stories/minnisroadgordon.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">The one-time Gordon residence of the renowned Sydney artist Benjamin Minns, who during the 1920s was the head of the Watercolours Society of NSW, has been sold. Its price has been withheld, but the expectations were about $3 million. It last sold at $2.25 million in 2006 when bought by the Owler family. It has five bedrooms, a study and three bathrooms. The 1920s front façade remains the same, but behind its been altered and extended extensively, according to its LJ Hooker Wahroonga selling agents Robert Ward and Michael Walter. It comes with a grand limestone-tiled entrance room and an enormous glass enclosed sunroom, which overlooks the gardens and dramatic bushland valley vistas.
During the Minns' ownership the home on 3,338 square metres was a favourite sanctuary for many in the painting fraternity. Set on parklike grounds, once featured on Burke's Backyard, it has a series of terraced lawns, stone walls and established gardens with soaring ferns and a tinkling creek at the bottom of the garden. There’s a rustic stone gazebo in which it is reported that Minn's wife often sought refuge to follow her passion of writing.
 
<img src="/images/stories/williamstown.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Soccer champion Mark Viduka has trimmed his property portfolio, recently selling a townhouse in Williamstown (pictured), Melbourne and a Milsons Point, Sydney apartment. The two-bedroom, 160-square-metre Milsons Point apartment, which cost $1.45 million in 2005, sold through Andrew Cocks of First National Real Estate Circular Quay for $2 million. Viduka, who splits his time between Melbourne, England and Croatia, had hoped for $1.5 million plus for the tri-level, four-bedroom townhouse, which has been sold for an undisclosed price through Hocking Stuart Williamstown agent  Rashard Risilia. It had been bought for $465,000 in 2004.
 
<img src="/images/stories/doublebay.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Hollywood Hills-based cosmetics king Napoleon Perdis has bought back home in Sydney. Perdis and wife Soula-Marie have spent about $3.7 million for near-new Double Bay house (pictured above). The couple relocated in 2006 to the United States after selling in Drummoyne for $2,775,000. The new Sydney home has a lift from its triple garage in the basement connecting to the two-storey, four-bedroom, three-bathroom house with a swimming pool. Its previous sale was for $3.55 million after its 2009 completion. One of the two other nearly identical neighbouring properties sold last December for $3.785 million through Ashley Bierman of Ray White Double Bay. Perdis apparently liked the fact that it was a good lock-up-and-leave property given his international commitments.
 
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">And don't say that Title Tattle told you, but apparently the Paspaley pearl family who bought in Bellevue recently for $9.4 million are listing their sandstone Woollahra cottage through Savills agent Martin Schiller. It was bought for $3.87 million in 2005.
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jchancellor-FAypfDUnLy

Sussan boss Naomi Milgrom spends $6.2 million to buy her Byron Bay neighbour: Title Tattle

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Dixon Advisory’s US Masters Residential Property fund has bought 19 properties in New Jersey for a combined price of about US$3.8 million (A$3.54 million).
The fund listed on the National Stock Exchange on June 29 and has been trading at $1.61 a share following a listing price of $1.60.
Managing director Allan Dixon tells Property Observer the properties have net yields around 11%, well above the fund’s 8% target yield.
The average purchase price is $200,000, with cheapest property costing $125,000 and the most expensive in the low $300,000 range.
The purchases are expected to be settled on July 10.
“They are all two family duplexes. Some are side by side, others are one floor above, one floor below,” Dixon explains.
The free-standing properties are non-strata, requiring purchase of all sub-divided units.
The fund is currently negotiating on a further 27 properties in New Jersey.
<a target="_blank" title="Dixon Advisory snaps up properties in New Jersey" href="https://www.propertyobserver.com.au/news/australian-investment-fund-snaps-up-19-properties-in-us-state-of-new-jersey/2011070150672">It has close to $70 million worth of investor capital at its disposal to invest in residential properties in areas within commuting distance of Manhattan, in New York.</a>
Dixon says the fund will look to make further purchases in the New Jersey area as it looks to take advantage of property management economies of scale.
Dixon says favourable tenancy rules as well as the “good gentrification potential” are some of the reasons that attracted the fund to the New Jersey market.
“We looked at Boston, Washington, Baltimore, but kept coming back to New York. It has the best metrics: strong employment growth over the last year, it is a service-based economy and is looking very robust.”
Dixon Advisory has set up an office in New York, run by local property experts, to undertake due diligence on potential property purchases.
The fund’s managing director Alex MacLachlan hails from New Jersey.
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Australian investment fund snaps up 19 properties in US state of New Jersey

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As we look to what's ahead for 2012, Property Observer is republishing some of our most noteworthy stories of 2011.
 
Burraga Island, a 121-hectare Shoalhaven River island, has been sold for $2.5 million to Chinese interests.
It is one of a handful of privately owned NSW coastal islands, hardly paradise, but its sale price ranks it among the many tropical island counterparts.
It was sold recently, ending 34 years of Kennedy family ownership of the island.
It is about six kilometres up from the coastal Comerang Island, not far from the Princes Highway, Nowra Bridge. It is set between the northern village of Bomaderry and the southern village of Terara.
The purchasing entity gives its director as the Shanghai-born property developer Quan (David) Fang, and its beneficial owners as Beauty Castle Enterprises, a British Virgin Islands-based company.
Although there appear to be no formal links, Fang is also a director of ASF Group, the publicly listed company that operates in Australia and through subsidiaries and investments in controlled entities across China, with a focus on mineral resources and energy, property marketing and  travel services.
Fang came to Australia in 1988 and has since spent most of his entrepreneurial life in Sydney. He has experience in the property sector covering property sales/marketing, development, acquisition, and syndication.
ASF is undertaking exploratory coal work in the Canning Basin of Western Australia.
Burraga Island, known officially as Pig Island, last sold in 1977 for $105,000 after the collapse of plans for a $4 million hotel/motel.
The development had met strong opposition from environmentalists concerned for the snipe, migratory birds from Japan.
The actor Walter Chiari, star of the 1966 film They’re a Weird Mob, had been among the investors in the proposal.
Its recent marketing campaign was through Ray White Gerringong agent Neil Campbell, who had given $2.5 million as its likely selling price.
Burraga Island is prime grazing land with billabongs, with a 1998 built five-bedroom house and its own ferry to the mainland.
The district’s last serious floods were in the 1970s, especially 1974, when 8000 hectares were underwater in the district.
Burraga was briefly caught up in a 1995 native title claim by the Jerrungarugh tribe involving the neighbouring stretch of the Shoalhaven River.
The elders suggested Pig Island had been used for ceremonial dancing.
The island is zoned rural flood liable, so agriculture pursuits is its most likely use.
Just one residence is permitted, which could be used for low-key tourism accommodation.
It ceased operating as a dairy farm several years ago and now has 190 beef cattle.
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Burraga Island sells to Chinese interests

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The central Queensland coastal town of Gladstone, 550 kilometres north of Brisbane, is emerging as a property investment hotspot, according to the May quarter Midwood report.
Median house prices in Gladstone have increased 8% over the year to March 2011 to $395,000, compared with flat house prices in nearby Bundaberg over this period and a 2% decline on the Fraser Coast.
Vacancy rates have tumbled in Gladstone falling from 4.1% in March 2010 to just 1.4% in 2011, and rents have gone up for all categories of housing.
According to the July Herron Todd White report, “soaring rents [in Gladstone] are still attracting investors into the market, with very good yields currently available”.
“The Gladstone residential market continues to perform strongly with values still climbing, and heightened activity due to the announcement of major LNG projects in October 2010 and January 2011,” the report says.
“Modern properties are still in high demand and are obtaining the best yields, especially when furnished. There are still opportunities to make a profit in the construction of new dwellings, with end values generally exceeding the total of construction and land costs.” 
Changes in median weekly rents (March 2010 quarter to March 2011 quarter)
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="123">
 
</td>
<td valign="top" width="123">
One-bedroom flat
</td>
<td valign="top" width="123">
Two bed-room flat
</td>
<td valign="top" width="123">
Three-bedroom house
</td>
<td valign="top" width="123">
Four-bedroom house
</td>
</tr>
<tr>
<td valign="top" width="123">
Gladstone
</td>
<td valign="top" width="123">
+6% ($190)
</td>
<td valign="top" width="123">
+22% ($280)
</td>
<td valign="top" width="123">
+26% ($360)
</td>
<td valign="top" width="123">
29% ($450)
</td>
</tr>
<tr>
<td valign="top" width="123">
Mackay
</td>
<td valign="top" width="123">
+9% ($250)
</td>
<td valign="top" width="123">
+7 ($300)
</td>
<td valign="top" width="123">
+4% ($390)
</td>
<td valign="top" width="123">
+4% ($480)
</td>
</tr>
<tr>
<td valign="top" width="123">
Bundaberg
</td>
<td valign="top" width="123">
-9% ($155)
</td>
<td valign="top" width="123">
0% ($200)
</td>
<td valign="top" width="123">
+2% ($265)
</td>
<td valign="top" width="123">
-2% ($310)
</td>
</tr>
<tr>
<td valign="top" width="123">
Queensland
</td>
<td valign="top" width="123">
2% ($255)
</td>
<td valign="top" width="123">
0% ($310)
</td>
<td valign="top" width="123">
2% ($330)
</td>
<td valign="top" width="123">
1% ($390)
</td>
</tr>
</tbody></table>
Source: Midwood Report 2011
Gladstone is set to benefit from big energy, mining and infrastructure projects scheduled to commence in the region over the next 10 years.
These include a $41 billion coal mining project scheduled from 2011 to 2020, a $75 billion energy project scheduled from 2011 to 2017, a $7 billion rail project (2011 to 2014) and an $8 billion port project (2011 to 2020).
According to the Midwood report, property developer Devine will next year commence building a $1.4 billion master planned community just outside of the Gladstone CBD.
The 496-hectare site, to be developed over the next 12 years, will include 2,900 dwellings for up to 7,500 residents, an education campus, a mixed-use commercial zone and 182 hectares of open space
On June 24, the Gladstone Regional Council announced it had approved a 63-unit development on Glenlyon Street, which it says “will help ease the housing stress being experienced in the city”.
The “G60” development is being undertaken by developer Stokeston.
According to Council Development Portfolio spokesman Craig Butler, the approval will add to the residential options available within the region, “particularly when considering that, at the end of the March 2011 quarter, there were in excess of 4,500 residential lots approved for subdivision and in excess of 550 units approved”.
"With the number of dwellings approved this year already exceeding the total number approved in the whole of the 2009 calendar year, being in excess of 400 houses currently under construction, the amount of residential activity is certainly on the rise.” 
The population Gladstone increased by 3% from 2009 to 2010 to 50,158. In the 2006 census, the population was recorded at 28,808.
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Gladstone becoming an investor hotpsot: Herron Todd White

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{yoogallery src=[images/stories/july1sussex]}
4 Sussex Street, Brighton, Victoria, 3186
There were no bids made when Brighton’s most impressive weekend listing, 1930s residence Sussex, went to auction through <a href="https://www.buxton.com.au/" target="_blank" title="Buxton">Buxton </a>agents Regina Schmidt and Brian Devlin with price hopes of $3.5 million.
The well-positioned home in the heart of Brighton opened with the auctioneer seeking bids of $3.2 million – but nothing came from the crowd.
A vendor bid came at that level, and then another vendor bid of $3.4 million, according to James Buyer Advocates.
The buyers’ agency gave it a rating of 725, which is well above average, so they and the Buxton agents expect a sale in coming days.
The house, with five bedrooms and a home-office, comes with 1835 stables that have been converted into a two-room entertainers' complex.
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Still a lot to like in Brighton

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The mortgage lending market remains flat, according to the latest RBA data.
Housing loans to owner-occupiers by banks and other lenders rose 0.5% in May 2011, up from $829.1 billion in April 2011 to $833.4 billion, on a seasonally adjusted basis.
Commenting on the latest data, Westpac says widespread flooding in Queensland early in 2011 disrupted activity and slowed housing credit growth.
“The outlook for housing credit is lacklustre,” the Westpac Bulletin says. “Housing affordability is a constraint, households are looking to pay down debt and interest rates are a headwind.”
Aggregate loans to investors rose 0.4% from $354.4 billion in April 2011 to $355.7 billion in May 2011.
According to Westpac, since April 2010 investor credit growth has slowed against the backdrop of moderating house prices.
Overall, housing credit increased by 0.5% during May 2011, a small increase on the 0.4% recorded in the preceding months of April and March.
During the year to May, housing credit has increased by 6.2%, the slowest nominal annual growth rate since 1976 and down from 8.3% a year ago.
Business credit rose by 0.1% over May, after falling by 0.5% during April. Over the year to May, business credit has declined by 1.5%.
Total credit provided to the private sector by banks and other lenders rose 0.3% in May, after no increase was recorded in April.
For the year, total credit growth stands at 3.1%, less than a third of the average growth rate of 10.9% recorded over the preceding decade.
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Mortgage lending remains flat

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A heavily discounted share price makes property developer Mirvac a likely target for a takeover bid, according to John Kim, a property analyst at Asian investment firm CLSA.
Kim says takeover bids could come from private equity, an Asian developer or property group Lend Lease.
According Kim, Mirvac’s securities are currently trading at a 20.9% discount to its net tangible assets, compared with a more modest 4.7% discount for competitor Stockland.
Furthermore, Mirvac offers stronger earnings growth potential than Stockland, with three-year earnings per unit compound growth rate of 5.9%, compared with 1% for Stockland.
Morgan Stanley analysts come to a similar conclusion about Mirvac’ share price, discounting it at 19.6% to net tangible assets with Stockland at a discount of 5.5%, according to it June property market research report.
However, Morgan Stanley forecasts Stockland’s EPS yield for the next 12 months at 9.7%, compared with 9% for Mirvac.
News of a possible takeover comes soon after Mirvac wrote off $80 million on its balance sheet as a result of flood damage to its Tennyson Reach residential development on the Brisbane River.
Kim says Mirvac, which holds 46% of its assets in offices, will benefit from a recovery in the office market over the next three years when vacancies drop to 3% in Melbourne and 4% in Sydney by 2014, The Australian reports.
He also expects Mirvac to continue to benefit from strong demand for central city apartments, citing the recent brisk sale of units its ERA project in Chatswood, North Sydney.
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Mirvac touted as possible takeover scenario

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Dixon Advisory’s US Masters Residential Property Fund is trading just above its June 29 listing price on the National Stock Exchange.
As of noon on June 30, 2011, the stock was trading at $1.61 a share, pushing the value of the stock to $69.86 million.
On its first day of trading 42,200 shares were bought by brokerage RBS Morgans at a price of $1.61.
The stock listed at $1.60.
The fund, the only one in Australian to offer direct investment in the US residential property market, attracted $69.5 million from investors in the build-up to listing on June 29.
Investors in the fund include self-managed super funds and private investors.
The fund will look to buy properties in the New York metropolitan area, often referred to as the Tri-State Area. This is made up of the populated areas of New Jersey, New York and Connecticut, all within “typical commuting distance of Manhattan”.
The NSX is a specialist stock exchange for the listing of company, property and debt securities.
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