South East Queensland developer&nbsp;<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a>’s entry into the Gold Coast apartment market has progressed from pipeline to market, with its Chevron Island project Bronze on Chevron now formally available to purchase ahead of a planned 2029 completion.

The 119-apartment development on Mawarra Street marks the Brisbane-headquartered builder-developer’s first residential play in the Gold Coast, following its expansion south from Brisbane and the Sunshine Coast.

<a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-surfers-paradise-qld-4217">Bronze on Chevron</a> comprises a mix of two-, three- and four-bedroom residences, with pricing starting from just over $1.5 million. The project is being delivered under Gardner Vaughan’s fully integrated model, with the group acting as both developer and builder, a structure it has consistently applied across its South East Queensland portfolio.

[smartcode_project:default project_id=107520 project_image_fid=367182]

Architecture has been designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jeremy-ferrier-landscape-design">Jeremy Ferrier</a>. The building presents as a single-tower scheme, with a focus on maximising outlook across both the Surfers Paradise skyline and the Nerang River.

Apartments have been planned with open-plan living zones extending to generous balconies, a response to the site’s dual-aspect positioning between river and ocean. Interiors follow a restrained coastal palette, with two colour schemes offered, and an emphasis on natural light and cross-ventilation.

[smartcode_project:default project_id=107520 project_image_fid=367181]

Resident amenity is concentrated across more than 1,250 sqm and includes a resort-style pool, gym, yoga lawn and rooftop entertaining areas. A function space with catering facilities forms part of the upper-level offering, alongside north- and south-facing outdoor areas.

Ground level will incorporate two retail tenancies, intended to extend the existing village character of the surrounding streets.

&nbsp;

[smartcode_project:default project_id=107520 project_image_fid=367200]

The project sits within walking distance of Thomas Drive’s established dining strip, while maintaining proximity to <a href="https://www.apartments.com.au/developments/surfers-paradise-qld-4217">Surfers Paradise</a> beach and broader Gold Coast amenity. The location, positioned on Chevron Island between the river and coastline, has increasingly attracted mid- to high-density development in recent years as the precinct evolves beyond its low-rise origins.

Gardner Vaughan’s move into the Gold Coast was first signalled in 2025, with the group identifying the region as a natural extension of its operations. Chief Executive Officer Simon Betteridge described the expansion as both “strategic and natural”, citing demand for well-designed apartments in lifestyle-driven markets.

Construction is expected to complete in early 2029.

[smartcode_project_cta:default project_id=107520]

Joel Robinson

Gardner Vaughan brings Bronze on Chevron to market as Gold Coast debut

One of the penthouses at Lily Lane, the latest stage of Carrington Place by Ellipse Property, has set a new local apartment price record.

The four-bedroom residence, purchased by a local downsizer, sold for $5.75 million—around 75 per cent higher than the previous record of $3.3 million.

Over 40 per cent of the first release of apartments at&nbsp;<a href="https://www.apartments.com.au/new-apartments/lily-lane-at-carrington-place-castle-hill-32-carrington-road-castle-hill-nsw-2154">Lily Lane</a> have already been snapped up just six weeks since it launched to the market.

&nbsp;

Located at 32 Carrington Road, <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> and designed by award-winning architects <a href="https://www.apartments.com.au/architects/ptw">PTW</a>, Lily Lane is directly opposite the Hills Showground Metro station. It offers a total 213 units over two 12-storey towers - a mix of 67 one-bedroom, 100 two-bedroom and 46 three-bedroom apartments - with a ground-floor retail offering.

[smartcode_project:default project_id=151821 project_image_fid=368352]

Blake Schulze, National Director – Residential at <a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>, says around 44 per cent of buyers are&nbsp;owner occupiers, with 35 per cent being investors and 21 per cent first homebuyers.

“Developments of this calibre are very rare in the Hills District, and Lily Lane’s sales success demonstrates the depth of demand for over-sized apartments that genuinely compete with freestanding homes," Schulze says.

"We are seeing particular demand from downsizers who want to remain in the area but transition into spacious, high-quality apartment living."

On the penthouse sale, it says it shows buyers&nbsp;are prepared to pay a premium for scale, quality, and direct access to the Metro.

[smartcode_project:default project_id=151821 project_image_fid=368351]

One-bedroom apartments are sized from 50-72 sqm with prices starting at $745,000, while two-bedrooms are priced from $990,000 with sizes from 75 to 132 square metres. Three-bedroom floorplans are sized between 97 and 182 sqm,, with prices starting at $1,395,000.&nbsp;

The three remaining penthouses, spanning up to 262 sqm, are priced from $2.9 million.

Over 75 per cent of apartments include dedicated studies, multipurpose rooms or family rooms, with select layouts offering walk-in pantries and laundries. Apartments are appointed with premium Miele appliances including ovens, washing machines, dryers, gas cooktops and dishwashers, while larger residences also incorporate integrated Miele microwaves, Fisher &amp; Paykel integrated refrigerators and five-burner Miele cooktops.

[smartcode_project:default project_id=151821 project_image_fid=360285]

Lily Lane will be constructed by award-winning iCIRT-rated builder <a href="https://www.apartments.com.au/builders/decode">Decode Group</a>, with construction to commence in mid-2026 and expected to complete early 2029.

Carrington Place comprises more than 800 apartments and is being delivered across multiple stages, with completion expected in 2032. Integrated with neighbouring bushland, the project will feature over 20,000 sq, of outdoor recreational area, including a one-kilometre boardwalk to Fred Caterson Reserve.&nbsp;

The Hills Showground Metro Station is just a two-minute walk away, offering fast connectivity to Sydney’s CBD, North Sydney, Chatswood, Macquarie Park and Norwest Business Park.

[smartcode_project_cta:default project_id=151821]

Ellipse sets Castle Hill apartment record with $5.75 million Lily Lane penthouse sale

Fresh off completing its Delano Crows Nest development, Lindsay Bennelong has lodged plans for its next project, this time turning its attention back to the beach.

The developer, started 20 years ago by Clarendon Homes founder Peter Campbell, is proposing a 37-apartment scheme at <a href="https://www.apartments.com.au/new-apartments/17-25-ashburner-street-manly-nsw-2095">17-25 Ashburner Street</a>, Manly, positioned between the southern end of <a href="https://www.apartments.com.au/developments/manly-nsw-2095">Manly</a> Beach and East Manly Cove.

Lindsay Bennelong called on local architecture firm Platform Architects to design the new building, given their success at Finn, Lindsay Bennelong's current luxury apartment project on North Steyne.&nbsp;

According to the Design Verification Statement by Bridie Gough of Platform Architects, the proposal “relates to the current context but also the desired future character of taller buildings suitable to the new planning controls.”

The site has been identified as a Low to Mid-Rise Housing (LMR) location, given its position within 400 metres of the Manly Town Centre E1 Business Zone. The LMR controls are intended to unlock additional housing supply in well-located areas close to public transport, allowing developers to seek increased height limits to support greater density.

“The proposal seeks to provide this increased level of housing whilst being respectful of some of the smaller scale buildings also nearby,” the statement reads.

Lindsay Bennelong Development Director Leigh Manser said the project has been carefully aligned with the intent of the LMR controls. The proposal will significantly increase housing yield on the site, replacing four houses and 10 apartments, comprising 25 bedrooms, with 37 new apartments delivering a total of 94 bedrooms, whilst remaining compliant with the LMR controls.

“Sydney is in a severe undersupply, and delivering more dwellings and more bedrooms than what currently exists is exactly what the LMR policy is designed to activate,” Manser said, noting that nine of the apartments will be allocated as affordable housing for frontline workers.

“We have already commenced discussions with our community housing provider to determine the rental levels that frontline workers can realistically afford in this location,” he said. “These will need to sit well below the standard affordable housing benchmark of 20 per cent below market rent, and that has been factored into our feasibility and pricing.”

<img alt="Manly" data-entity-type="file" data-entity-uuid="ad03000f-19f9-48b4-b27d-e85ca800a1da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%208.41.59%E2%80%AFAM.png?VersionId=a.txHwCZgbCInlQ6QXbIrI.umvW1T.r8" />

The design of the building incorporates a wave-like indentation running through the façade, referencing the nearby coastline and anchoring the building within its local context.

The&nbsp;Design Verification Statement says careful consideration has been given to the articulation of the building, ensuring the bulk is broken down to a more human scale through a defined four-storey podium."

The scheme includes a mix of one-, two- and three-bedroom apartments, as well as a full-time building manager's office and wellness facilities including a sauna and a gym.

“The design ensures a high level of amenity, with apartments offering generous private open space, many with expansive views, and all with comfortable proportions."

<img alt="Bennelong" data-entity-type="file" data-entity-uuid="6a7f2812-72a1-4959-84b0-997e8cd88aed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%2010.15.50%E2%80%AFAM.png?VersionId=6iMxU3MkXmHVHAoNhYBjnqgka8CUZNbk" />

<a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong</a>&nbsp;is currently developing Finn Manly, just four full-floor luxury apartments on North Steyne. They recently welcomed residents to its 81-unit Delano Crows Nest development, a&nbsp;carefully scaled infill project designed to bridge&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>’s lively village centre with its surrounding heritage streets.

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>,&nbsp;<a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a>&nbsp;is arranged across three low-rise buildings, incorporating a mix of one, two, and three-bedroom apartments alongside a limited number of townhomes addressing Hayberry Lane. The architectural approach drew on the area’s Art Deco lineage, reinterpreted through contemporary detailing and framed by landscaped communal gardens.

The developer also has a development site in Maroubra.

First look: Lindsay Bennelong's new Manly apartment development revealed

Fifty-nine residences across 37 levels. No more than two per floor. With 80 per cent now sold, what remains at <a href="https://www.apartments.com.au/new-apartments/madeline-by-mosaic-broadbeach-22-mary-avenue-broadbeach-qld-4218">Madeline by Mosaic</a> is a short list.

Madeline was always conceived at a scale that sits outside the normal register of Gold Coast apartment living. The residences are half- and full-floor configurations, with the largest spanning more than 400 sqm, dimensions that place them closer to the penthouse end of the market regardless of where they sit in the building.

That scale is the organising principle of everything else: how the floorplans are laid out, how the materials read, how the connection between inside and outside works.

[smartcode_project:default project_id=150135 project_image_fid=355941]

The interiors were developed in collaboration with <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a>, the architecture practice&nbsp;<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic</a> brought in as design partner for the first time on this project. The palette runs to natural stone, textured timbers, and soft metallics, materials chosen as much for their tactile quality as their appearance.

Light cleverly shifts across surfaces through the day, and the design is explicit about wanting that to be noticed. Full-height glazing runs across the primary living areas, and where the building faces east toward the ocean, those walls of glass are doing real work: framing a view corridor that the site's position directly opposite Broadbeach State School's playing fields keeps permanently open.

That outlook is the site's most consequential asset. In a suburb where new towers continue to rise, a protected view line is genuinely rare, and the Mary Avenue address secures it. Residents at Madeline will look out over open parkland rather than the rear of another building, a distinction that becomes more meaningful with each new development approved nearby.

[smartcode_project:default project_id=150135 project_image_fid=355939]

The private outdoor spaces are sized to match the residences themselves. Terraces on the upper levels frame uninterrupted ocean panoramas, and the planning ensures that living areas extend into those outdoor zones rather than treating them as separate attachments. The flow between the two is part of the design intent, not an afterthought.

Inside, the finish specification reflects the same approach. Rich stone benchtops, warm timber joinery, bespoke hardware, each element specified to hold up over time rather than read as a moment in a particular trend cycle.

[smartcode_project:default project_id=150135 project_image_fid=3409]

Beyond the residences, the amenity offering extends that register. A lap pool and sun deck anchor the outdoor space, alongside a magnesium pool, cold plunge, steam room, and sauna.

A commercial-grade gymnasium, residents' lounge, library, and boardroom round out a programme that functions more like a private members club than a standard building amenity floor.

Construction has commenced under Mosaic's in-house building arm, with completion scheduled for late 2028.

[smartcode_project_cta:default project_id=150135]

Madeline by Mosaic delivers penthouse-level living across every apartment

Developer Fortezza Group is the latest to take its new apartment development, <a href="https://www.apartments.com.au/new-apartments/the-belvedere-5-7-church-street-nelson-bay-nsw-2315">The Belvedere in Nelson Bay</a>, to the NSW Government.

Fortezza, predominantly a South East Queensland developer, is the latest to apply for State Significant Development&nbsp; status through the NSW Government's Housing Delivery Authority, a pathway becoming favoured by developers to speed up the approval process.

They are planning 57 two- and three-bedroom apartments across 5-7 Church Street and 42 Donald Street, near d'Albora Nelson Bay Marina. The diverse apartment mix has sizes from just over 80 sqm to the largest three-bedroom penthouses that reach nearly 200 sqm.

<img alt="Fortezza" data-entity-type="file" data-entity-uuid="090360e1-66d7-43ad-b686-aba81f173bf2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%2010.22.40%E2%80%AFAM.png?VersionId=DMqF96eBZolqSAAAcugX0l66ueWng66m" />

Fortezza calls the project a "piece of Istria in Nelson Bay,"&nbsp;referring to the largest peninsula in the Adriatic Sea, shared by Croatia (90%), Slovenia, and Italy, which is known for its Roman history, Venetian-style coastal towns and inland hilltop villages.

They say the The Belvedere is strategically positioned at the apex of Nelson Bay, offering unrivalled views of the ocean, the bay and captivating topography of the area.

"Our commitment to maintaining the integrity of every view and sight line has been relentless," Fortezza Group says.

"Through extensive modelling and analysis, we ensure that each apartment enjoys the natural beauty of Nelson Bay, regardless of future developments. Each design element is carefully curated to harmonise with our European heritage, drawing profound inspiration from the Roman architectural marvels in Istria. The arches, the cascades of greenery and the stonework that define our project pay homage to the structures that once exemplified Roman grandeur."

Residents will have access to a pool, communal green spaces, an office and a coffee shop.

First look: Fortezza Group takes The Belvedere, Nelson Bay apartment development, to NSW Government

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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Many are speculating that Queensland will be the next big growth market for units, with unit rental yields sitting as high as <a href="/expert-insights/investing/the-top-suburbs-for-unit-rental-yield-around-the-country-ultimo-shines">11.5% in some parts of the state</a>. 
But just how well priced are Queensland’s units? Brisbane and Gold Coast’s median unit price was $359,000 for the March quarter. Property Observer looks at the March quarter’s sales to see just what went for Brisbane and the Gold Coast’s median unit price.
<ol>
<li>
<a href="https://www.realestate.com.au/property-apartment-qld-broadbeach-115734699" target="_blank">2/31 ARMRICK AVENUE, BROADBEACH</a>  <img src="/images/2014/05/01/whale%20beach_0003_4.jpg.jpg" width="800" height="600"> This two bedroom, two bathroom ground floor unit in the Gold Coast sold for $360,000. The apartment is tiled throughout and includes a large balcony for outdoor entertaining. Part of a small five unit complex, Unit 2 attracts $34 per week in body corporate fees. Sale price: $360,000 Bedrooms: Two Travel to CBD (Gold Coast): Walking distance 
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-nundah-115662756" target="_blank">3/29 OLIVER STREET, NUNDAH <img src="/images/2014/05/01/nundah.jpg" width="800" height="600"></a> Vendors purchased this two bedroom unit in 2009 for $347,500, selling it five years later for $357,000. The unit has two bedrooms and bathrooms, with a balcony entertaining area. Nundah, eight kilometres north east of the Brisbane CBD has seen significant gentrification in recent years. Sale price: $357,000 Bedrooms: Two Travel to CBD (Brisbane): 14 minute drive
<a href="https://www.realestate.com.au/property-unit-qld-nundah-115662756" target="_blank"> </a>
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-toowong-115601139" target="_blank">3/9 CADELL STREET, TOOWONG <img src="/images/2014/05/01/toowong.jpg" width="800" height="600"> </a> A two bedroom apartment in this eight unit complex sold for $360,000 earlier this year. The unit attracted a price well below the median for units in the suburb, which sat at $439,000 last month. Within walking distance to the train station, the apartment has carpeted bedrooms and tiled living areas. Sale price: $360,000 Bedrooms: Two Travel to CBD (Brisbane): Six minute drive
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-new+farm-116283803" target="_blank">11/229 MORAY STREET, NEW FARM <img src="/images/2014/05/01/new%20farm.jpg" width="800" height="600"> </a>This newly renovated one bedroom apartment in New Farm sold for $350,000. Its modern interiors are of a superior quality to the other units featured on this list, but this apartment has only one bedroom, with 55 square metres of total floor space. The air conditioned unit is situated in a two storey complex, and in April 2013 was advertised to rent at $370 per week. Sale price: $350,000 Bedrooms: One Travel to CBD (Brisbane): Nine minutes drive<a href="https://www.realestate.com.au/property-unit-qld-new+farm-116283803" target="_blank"></a><a href="https://www.realestate.com.au/property-unit-qld-new+farm-116283803" target="_blank"> </a><a href="https://www.realestate.com.au/property-unit-qld-new+farm-116283803" target="_blank"> </a>
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-woolloongabba-116091847" target="_blank">6/25 REIS STREET, WOOLLOONGABBA <img src="/images/2014/05/01/wooloongabba.jpg"> </a>
This Woolloongabba two bedroom apartment was sold in February for $360,000. It was purchased by the vendors for only $10,000 less in 2009. Two kilometres from the Brisbane CBD, Woolloongabba has a relatively dense apartment market due to its proximity to the Brisbane CBD and the opportunity to capitalise on river views. The median unit price in Woolloongabba was $410,000 for March. 
Sale price: $360,000 Bedrooms: Two Travel to CBD (Brisbane): Five minutes drive
</li>
</ol>
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jrichardson-uRX5hFdKfN

What can buyers get for Brisbane and the Gold Coast’s median unit price?

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Nationally, RP Data estimates housing wealth at $5.2 trillion, however Queensland now accounts for more than 15% of this estimation, according to CEO of the Real Estate Institute of Queensland (REIQ) Anton Kardash.
In fact, with Brisbane become increasingly popular for investors, and values ticking up, this is only set to increase.
“Queensland residential housing is more popular than ever with investors, who see an enormous upside as confidence rebounds in the local real estate market,” said Kardash, pointing to strong buyer sentiment and sales activity assisting the Gold Coast and north Queensland in particular since the GFC.
Confidence was also noted to be returning in north and central Queensland, as well as the south-east, with particular reference to the Sunshine Coast.
“The state’s real estate renaissance is reflected by a wide range of indicators, from strong price growth and higher sales volumes to more new housing construction and finance approvals.”
He noted that the national value of residential property is more than superannuation, listed stocks and commercial real estate combined.
He provided the following house values by region across Queensland:
<ul>
<li>
Brisbane $393 billion 
</li>
<li>
Gold Coast $123 billion 
</li>
<li>
Sunshine Coast $74 billion 
</li>
<li>
Far North Queensland $36 billion 
</li>
<li>
Wide Bay-Burnett $34 billion 
</li>
<li>
Fitzroy $33 billion 
</li>
<li>
North Queensland $31 billion 
</li>
<li>
Mackay $28 billion 
</li>
<li>
Darling Downs $26 billion 
</li>
<li>
West Moreton $12 billion</li>
</ul>
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jduke-EHk3XBmHkn

What is the value of real estate in Queensland? REIQ analysis

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Many have nominated Brisbane as the growth city for 2014. That certainly has been a core Hotspotting theme since the latter part of last year and nothing has happened to alter our view.
Brisbane was a moderate performer in 2013 (as were most of our cities, contrary to the media image of a national boom), only sparking to life with a return to price growth late in the year.
This happened on the back of increases in sales volumes. Brisbane ended the year with many suburbs and precincts rising on a pattern of increased market activity, pointing to price rises in 2014.
My Price Predictor Index revealed one precinct as the one most likely to lead Brisbane’s price growth revival in 2014: the northern suburbs of the Brisbane City Council area.
In most of our cities, dozens of local councils govern small portions of the metropolitan area. In Sydney, the City of Sydney encompasses only the CBD and a small number of near-city suburbs (only 4% of Greater Sydney’s total population) and there’s a similar situation is other big cities.
But Brisbane is different. The Brisbane City Council covers a major chunk of the metro area and there are only five LGAs governing the entire area of Greater Brisbane. And it’s the northern suburbs of the Brisbane LGA that have stood up as the market leader as 2014 rolls on.
Ipswich City in the south-west and Logan City in the south are also poised for growth, but the standout in terms of sales volumes is the northern portion of Brisbane City.
We rate Brisbane Northside as one of the top 10 municipalities across Australia for growth this year. Many of its suburbs have rising markets, including <a href="/news">Chermside</a> where consecutive quarters delivered 37 house and unit sales, then 80, then 101.
Others with ascendant markets include <a href="/news">Alderley</a>, <a href="/news">Aspley</a>, <a href="/news">Clayfield</a>, <a href="/news">Nundah</a> and <a href="/news">Zillmere</a>.
The northern suburbs of the Brisbane City Council LGA tend to be middle market areas, with median house prices between $450,000 and $600,000.
This is an area with good transport links, including the Gateway Motorway and rail links from central Brisbane through this precinct to the Sunshine Coast.
There are plenty of employment nodes, with hospitals, schools and government departments playing a large role. The region includes both Brisbane International Airport and the Port of Brisbane, near which is clustered the Australia TradeCoast commercial-industrial precinct.
There are major shopping complexes, including Westfield Chermside, Aspley Hypermarket and Toombul Shopping Centre. Brisbane Northside also has the Brisbane Entertainment Centre.
Residential property demand is strong throughout this precinct, with vacancies in most suburbs below 2.5%. There is a growing unit market in many suburbs – Nundah in the past 12 months had 112 house sales and 225 unit sales (median price $380,000), while Chermside had 103 house sales and 149 unit sales (median price $387,000).
This precinct, then, presents one of real estate’s power combinations: affordable dwellings, good infrastructure and plenty of jobs nodes.
Affordability, plus infrastructure, plus jobs nodes, usually adds up to price growth.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

The standout Brisbane suburbs poised to deliver growth

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Queensland’s prestige stock is in the spotlight, with $1 million plus sales on the rise at nearly 20% above previous levels, according to Place Advisory.
In the last year, 2,334 homes have sold for $1 million or more in south-east Queensland, compared to 1,981 sales recorded in this bracket the year before.
Director of Place Advisory, Lachlan Walker, said that the sales in this bracket had peaked in 2010 before declining, and were now increasing again.
“With the way the figures are tracking and the state of the market at the moment we would expect the sales volumes in this price bracket over 2013 to be exceeded in 2014,” said Walker. Brisbane was the performer for these properties, with volumes up by 23% between 2012 and 2013.
<table style="width: 460px; height: 194px;" border="0"><tbody>
<tr>
<td>YEAR</td>
<td>Sunshine Coast</td>
<td>Gold Coast</td>
<td>Brisbane</td>
<td>Total</td>
</tr>
<tr>
<td>2004   </td>
<td>459</td>
<td>777</td>
<td>685</td>
<td>1,921</td>
</tr>
<tr>
<td>2005</td>
<td>462</td>
<td>462</td>
<td>846</td>
<td>2,057</td>
</tr>
<tr>
<td>2006</td>
<td>540</td>
<td>1,051</td>
<td>938</td>
<td>2,529</td>
</tr>
<tr>
<td>2007</td>
<td>695</td>
<td>1,487</td>
<td>1,813</td>
<td>3,995</td>
</tr>
<tr>
<td>2008</td>
<td>404</td>
<td>921</td>
<td>1,177</td>
<td>2,502</td>
</tr>
<tr>
<td>2009</td>
<td>386</td>
<td>936</td>
<td>1,173</td>
<td>2,495</td>
</tr>
<tr>
<td>2010</td>
<td>386</td>
<td>888</td>
<td>1,353</td>
<td>2,627</td>
</tr>
<tr>
<td>2011</td>
<td>297</td>
<td>698</td>
<td>1,062</td>
<td>2,057</td>
</tr>
<tr>
<td>2012</td>
<td>305</td>
<td>580</td>
<td>1,096</td>
<td>1,981</td>
</tr>
</tbody></table>
The 2013 results saw a total of 2,334, with the breakdown being 322 on the Sunshine Coast, 668 on the Gold Coast and 1,344 in Brisbane.
Walker pointed to this increase as an overall positive sign, marking confidence in consumer’s perceptions of the market. Coinciding with this uptick in sales, the prices have also slightly improved, said Place CEO, Damian Hackett.
“While the improvement in Brisbane’s top end has particularly been noticeable from a volumes perspective, there has also been a slight increase in prices, and this is set to continue as the year progresses and momentum in the market only solidifies, with confidence rebounding,” he said.
Of all sales within the $1 million plus range, it is the $1 million to $1.49 million that is most popular, taking out 65% of all prestige sales.
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Prestige Queensland sales seeing surge in interest

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Mining and gas developments in Queensland’s regional areas will be up for changes under the Regional Planning Interests Act 2014.
Deputy Premier and Minister for State Development, Planning and Infrastructure, Jeff Seeney, said that the Act will provide certainty for the agriculture and resource sectors, with landholders previously struggling to cope with unprecendented growth in the resource sector.
However, Seeney was quick to point out that development would not actually be prohibited under the Act, but would provide conditions that should be met.
“The laws will require a shift in thinking for resource companies and farmers but they are based on planning mechanisms that have been successfully used to resolve land use conflicts in urban settings for years,” he said.
“Resource companies can no longer proceed directly to the Land Court after 40 days should a landholder not agree to a proposed activity – equally a resources company may receive an exemption from the Regional Interest Development Application process simply by reaching a recognised legal agreement with a landholder.”
Regional plans across different areas have been set out, including the Cape York Regional Plan’s draft.
“These plans establish the over-arching principles that will apply to consideration of future development in a region and will reflect the vision and wishes of the local community,” he said.
Within each plan there are four areas of regional interest that will be recognised and protected, including priority living areas, priority agricultural areas, strategic environmental areas and strategic cropping areas.
For a developer to go ahead, the Act will require an agreement to be reached with the landholder of a Regional Interest Development Approval granted.
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Queensland’s regional planning put under the microscope

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New developments and affordability incentives are being jump started in some of Queensland’s mining towns as a result of increasing rents and prices for homes.
State land has been fast tracked for houses and industry through the Regional and Resource Towns Action Plan in resource region towns.
Now one year since the plan has been put into place, 40% of the 136 actions have been implemented.
Premier Jeff Seeney said that resource towns had been hindered in the past by poor planning and tight restrictions, leading to unaffordable housing.
The plan, finalised in March 2013, used council input to determine what could be done about the difficult situations for those living in mining towns.
For instance, back in 2013 in Queensland’s Roma, the government built and offered 13 homes to low and middle income families. There were more than 300 expressions of interest from those fitting the criteria.
The homes are currently rented at a discount of almost 50% of the market value: One-bedroom: $190 per week Two-bedroom: $230 per week Three-bedroom: $260 per week
The Regional and Resource Towns Action Plan Implementation Report indicates that rents of up to $600 per week for one-bedroom units in Roma have been seen.
“For me, a stand out success story of this plan is Roma,” Seeney said.
“Here the government has fast-tracked development of the Clearview Rise residential development, improving the supply of residential land in Roma,” he explained.
“In addition, $2.12 million has been provided to undertake sewer augmentation, $1.12 million to upgrade the sewer trunk servicing the Clearview Rise and $2.3 million to improve stormwater infrastructure within Roma.” Clearview Rise, in Roma’s Priority Development Area, will provide 300 homes – from four-bedroom houses to studio apartments, terraces and lofts – for affordable prices.
Several stages have been fast tracked by Economic Development Queensland, including Stage 4 by four months and Stage 2 by 10 months. Stages 1, 2 and 4 are currently complete.
Current packages available for house and land from $239,000 to $466,900, and land only from $94,000.
“The South-West Queensland town of Roma has been heavily impacted by the growth of the resource sector in the Surat Basin,” the report explains.
“The imbalance of housing supply and demand has led to spiralling housing purchase and rental prices, and a lack of appropriate housing options.”
Seeney also pointed to a 112 hectare parcel of land being transferred to the Maranoa Regional Council to complement a 500 hectare parcel of and adjacent to it.
“These initiatives accelerated the release of land to market and will see council better able to deliver affordable housing to Roma residents,” he said.
Seeney is now looking at developing land at the Whitsunday Coast Airport, and is working with Member for Whitsunday, Jason Costigan, who welcomes the opportunities for the area.
“The resource sector plays a massive role in the economy of the Whitsundays and the neighbouring local government areas of Mackay and Isaac,” Costigan said.
“I’m delighted to see the Whitsundays included in this plan which over time will help our region to better reap the benefits and meet the challenges resulting from the important resource sector.”
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Queensland mining towns’ skyrocketing rents and prices see government intervention

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Fair Work Ombudsman Natalie James has singled out Queensland’s real estate industry in a bid to improve compliance with workplace laws. After the operators of a Queensland real estate agency were fined for underpaying employees, the Ombudsman’s office has called upon large real estate brands and employer organisations to help drive behavioural change in the state’s industry.
In a 2011 audit of 156 Queensland real estate employers, the Fair Work Ombudsman found that less than half were lodging staff pay agreements. After a follow up campaign the next year, the office audited 279 employers, of which 82% complied with the requirement to lodge agreements with the Property Industry Registry.
Though James is encouraged by the improvement, she says that Fair Work inspectors have made some “disturbing findings”, including instances of employers failing to meet minimum payment entitlements for commission-based staff.
Earlier this week, the former operators of a Gold Coast real estate company were fined $56,000 for underpaying three salespeople. Following legal action by the Fair Work Ombudsman, husband and wife Adrian and Nicole Parsons of Total Project Marketing were fined $28,000 for underpaying three employees by a total of $41,472 between October 2009 and February 2011.
According to the ombudsman’s office, the staff members received pay below their minimum weekly wage entitlements and were underpaid for sales commissions. The employees were underpaid amounts of $32,951, $4,800 and $3,720.
In the court proceedings, Judge Michael Jarrett found that the Parsons intending to increase their company’s profits “at the expense of its employees”.
He also said there was “an apparent need for the general deterrence of the common disregard of industrial instruments in the real estate industry”. 
James has noted that the majority of Queensland real estate companies would wish to see their competitors’ poor practices exposed and remedied, an attitude that needs to be harnessed to “bring about improvement and a level playing field for all”.
As a regulator, James said that her agency must strike a balance between education and compliance.
 “We have been meeting regularly with representatives of real estate employer groups to discuss award compliance issues, as we want to ensure that small business people have every opportunity to meet their workplace obligations and have access to reliable, credible resources,” said James.
The Fair Work Ombudsman has recently established a dedicated Small Business Strategy Team and also works in partnership with franchisors, including real estate agencies, through its National Franchise Program.
 
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Queensland couple fined $56,000 for underpaying real estate staff

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Traditional investor cities of Sydney and Melbourne are being tipped to fall out of favour as Brisbane’s affordability allows it to emerge as the new city to invest in, according to Place Advisory.
In Brisbane, the median apartment price sits at $383,000, with Place Advisory director, Lachlan Walker, placing this at 26% below Melbourne’s $481,000, and 45% cheaper than Sydney’s $557,000.
“In Brisbane one-bedroom apartments, situated just one kilometre from the CBD, are available from $339,000 and they max out at around $500,000 for premium stock, while in Sydney the same type of apartment would start at around $500,000,” said Walker.
“A median price disparity of this magnitude has not been seen between these cities since 2004.”
Houses are seeing a similar disparity he said, pointing to RP Data statistics presenting Brisbane’s median house price at $480,000, Melbourne’s at $610,000 and Sydney’s at $765,000. Perth’s median sits at $540,000.
In Brisbane, 76% of house sales are under $600,000, with this number dipping to 62% in Melbourne and 44% in Sydney.
For this reason, Walker pointed to Brisbane’s growing attraction for investors with a lower entry level and long-term buying opportunity.
“There is no doubt that there will be some value growth in Brisbane real estate this year, with higher demand leading to price growth,” he said.
“Sydney and Melbourne have already seen considerable growth, with double-digit price increases over the past year, but this growth is now set to slow, with the focus shifting to Brisbane as the next key growth area for Australia.”
He noted that Brisbane usually sits 12 to 18 months behind these two capitals in the cycle, proving it’s now Brisbane’s ‘turn’ to lead the growth.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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Disparity in median prices “not been seen” since 2004 draws investors’ eyes to Brisbane

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A lack of information in our industry is what causes some of the worst scandals. Often when we see a spruiker exposed for ripping people off, or taking undisclosed kickbacks, or in some other way running afoul, they've been doing it for a long time and many people have known about it.
When it comes to property, as with most things in life, the more information the better.
At the moment, we have Queensland potentially legislating against auction price guides - a detail that is heavily used and relied upon by buyers across Australia. It's also a number open to some hefty toying with - see underquoting and related arguments - which is why they may consider it better for consumers to do away with this number completely.
But herein lies the issue. Some information is better than other information, some statistics are inherently more useful, more specific, more valuable and more accurate. For property investors, novice buyers and everyone on the property spectrum, the challenge is being able to identify the good data versus the "not so reliable" data when it arises.
Last week, I had industry members from Sydney, Melbourne and Queensland cite to me that the statistics on underquoting around auction price guides can be anywhere from "a few of them" to "98% of agents" in their experience. It appears very few can agree whether or not it is a widespread practice, perhaps due to the difference in laws around underquoting across the states and territories.
So let us put this plainly.
If a vendor tells an agent they want $1.2 million and that's what is expected, this is what they put on the agency agreement. If it's advertised with a $1.2 million price guide and the auction just goes crazy and reaches $1.8 million - that's not misleading necessarily. If a vendor tells an agent they want $1.8 million and that's expected, this is what they put on the agency agreement and it's advertised with a $1.2 million price guide - that is misleading. It would be bizarre for an agent to put $1.2 million on any agreement if, and those that are good at their job can guess to almost the $1,000 what a property will go for, they know it will go for a substantially different price.
I have seen instances, and heard of many others, where the reserve is higher than the price guide. I suggest alerting us here with the details. But remember, the reserve price is usually set on the day or close to it. We all know how emotional this part of the process can be for both vendors and buyers. If there's a last minute surge in interest, or the vendor changes their mind, they could easily put the reserve higher than they'd previously indicated to the agent. This doesn't mean the real estate agent has done the wrong thing. The piece of paper that proves the underquoting remains the agency agreement - although you could make a good argument for the reserve price being indicative of whether there may be underquoting.
Grey areas can occur when you have unusual properties, infrequent sales or when the market is just going off (and in this last instance, some predictive measures should be able to be used). Of course, it's largely these types of properties where auctions are used to best effect and are therefore most popular.
Rather than decreasing information provided, it's worth a suggestion that either more information is given - such as the dollar figure put on the agency agreement - or more policing of underquoting takes place. This would require an effort, but a higher level of regular enforcement and presence, such as turning up at auctions and checking agency agreements, would quickly stamp out many of these issues. It would also shine the light onto the practice and reveal whether it is as "widespread" as expected by some. There is a huge role for the authorities here, and I look forward to seeing them take action in the future.
What is also worrying about the changes to the Queensland legislation, which has been touched on by a number of news outlets and the <a href="https://www.change.org/en-AU/petitions/jarrod-bleije-mp-amend-proposed-legislation-aimed-at-banning-price-guides-on-properties-going-to-auction-in-qld?recruiter=83952376&amp;utm_campaign=signature_receipt&amp;utm_medium=email&amp;utm_source=share_petition" target="_blank">Change petition from News Limited's real estate editor Kylie Davis</a>, is the penalty provided to real estate agents should they tell journalists a price guide on a property. Property media is a significant part of the Australian landscape and our real estate industry. There's already plenty we can't say as journalists without facing defamation lawsuits which, even if you win, can cost you dearly in the process. The one thing we'd hate to lose is the ability to comment on these prices or for our sources to be fined for providing information to us. Without price guides we head in blind, not knowing the dollar figure significance of an auction and left to 'guesswork'. Record-breaking auctions in Queensland may miss out on coverage - sometimes the price guide is enough to prompt a reporter to turn up.
The fact remains, however, that this is largely about how it will affect buyers and vendors and less to do with the reporters. A disconnect between the Real Estate Institutes recently appeared about this issue and I was struck by the comments from the CEO of the REIQ, Anton Kardash <a href="https://www.propertyobserver.com.au/new-south-wales/real-estate-institutes-go-head-to-head-over-queensland-auction-price-guide-debate/2014030268111" target="_blank">where he said that auctions are not unique to real estate</a>.
"Art, horses and motor vehicles, to name but a few, are regularly auctioned without a fixed price or a price guide because that is the very nature of auctions. The market will decide on the day of auction what it is prepared to pay for that particular asset," Kardash said.
But property, as no doubt many will agree, is not an artwork (although it can be), or a horse or a motor vehicle. Even those who buy mainly to invest will be forced to concede that for many this is their home and their life savings and we all deserve more from our industry than to treat property as solely another commodity.
He explains that not presenting a price guide is already the 'norm' in Queensland - and certainly it makes sense to legislate to ensure everyone is on the same page. But he also said this: "It should also be highlighted that if a seller wishes to market a property with a price or using a price guide, they may do so by instructing their agent to sell via the much more popular private treaty method."
Vendors should be able to sell their property with as much accurate information as they'd like to provide. If they want to include a building and pest inspection, a valuation and some rental appraisals into the mix, they should be able to. Why should they be unable to guide on price as well?
Kardash also points to the complaints being "rife" in other states regarding price guides for auctions. Considering New South Wales and Victoria are the two states with the biggest auction cultures, it would be a safe bet to assume he is pointing to Melbourne and Sydney as the perpetrators. I know many real estate agents in both of these capitals and a huge number of them are upright individuals that I would be shocked to see knowingly involved in any misleading behaviour. While I can't deny that there are some of the other side of the fence, why should we restrict those who take to their role with professionalism?
When it comes to property, as with most things in life, the more information the better. Our readers have been clear in a number of Property Observer polls, emails and comments that they'd like to see reserve prices published as an option if price guides are not available. Let's make the information provided more accurate, rather than looking to decrease that we already have.
<img src="/images/stories/2014/03/03/poll-results-march-3.png" alt="poll-results-march-3" width="470" height="111">
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
Disclosure: Jennifer Duke has signed the Change petition against the Queensland auction price guide ban 
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Letter from the editor: More information not less please Queensland

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New insurance policy data from the Queensland Building and Construction Commission has seen a 27% uptick in two years in premium policies written.
Noting that the insurance policies are a precursor of building activities due to requirements in the Act that requires insurance premiums to be paid when entering into residential construction works contracts, Minister for Housing and Public Works, Tim Mander, expects to see construction grow.
“5,544 insurance premium policies were written in January 2014, compared to 4,946 in January 2013 and 4,349 in January 2012,” Mander said.
“That’s a 12%  increase on 2013 and a 27% increase over 2012, and shows dwelling construction is heading in the right direction.”
Homeowners are covered by the premium under the Queensland Home Warranty Scheme for up to six and a half years. This could be incorrect or incomplete work and subsidence issues.
Mander said the increase is lining up with ABS data, showing a trend dwelling approval increase of 2.6% in January.
However, it isn't just construction on dwellings that shows up in the premiums, with home warranty insurance required for all builders or contractors who undertake work over the value of $3,300 for a homeowner in certain categories, making it less certain that the increase will be as pronounced as the "construction boom" suggested by Mander's release.
Premiums may include work on building a new home, related roof building, townhouse or multiple unit dwelling (no more than three storeys), but it also relates to adding to, altering, renovating or repairing a dwelling, replacing or refitting of fixtures or fittings in a kitchen or bathroom or work on an unenclosed elevated platform, deck or veranda.
Painting, swimming pools, driveways, paths or roads are not included as residential construction work. You can see <a href="https://www.qcheck.com.au/forms/Insurable-Residential-Construction-Work.pdf" target="_blank">a full list here of what is included</a>.
<a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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