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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While we at Property Observer occasionally feel giddy over a good property, we try to draw the line at getting romantic about real estate. Clare and Terry Cantwell, of the Property Palace in Queensland, do not.
In their listing for <a target="_blank" href="https://www.realestate.com.au/property-house-qld-karana+downs-116003663">161 College Road, Karana Downs</a> (pictured below), the agents get positively swept away. The listing's opening lines:
BE MY VALENTINE!!! WITH THIS ROMANTIC COTTAGE!!!
Roses are Red, Violets are Blue, this romantic cottage could be for you!!!!
You dont need to go away for a romantic getaway as you can now live it everyday in this immaculate Chalet Style Home right here in Karana Downs!!
{yoogallery src=[images/stories/2014/02/14/kar]}
According to Clare Cantwell, she decided to take advantage of the holiday after viewing the property.
"I looked at it and I thought, the theme of the property is all red and white, it's a lovely cottage, and it's very romantic," she said. "I always think about the time of year [the property will be listed], and when I realised it was Valentine's Day, I thought, 'terrific!'"
Of her marketing strategy, Cantwell said, "It's not dull and boring, and it does grab people's attention. With a property like this, why not?"
While the property itself has plenty of charm, with exposed timber ceilings and a claw-footed bath, our favourite detail on the listing is Clare and Terry's photo (pictured below). The couple, who are both former police officers, are pictured in front of a bright red backdrop, with Terry delivering a truly arresting stare straight out of The Bold and the Beautiful.
<img style="display: block; margin-left: auto; margin-right: auto;" alt="batb-feb-14-one" src="/images/stories/2014/02/14/batb-feb-14-one.jpg" height="333" width="300">
With the property market so often dominated by doom and gloom or nail-biting anxiety, it's nice to see a little bit of love is still in the air. 
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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jrichardson-uRX5hFdKfN

Be mine, dear...Karana Downs cottage?

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The first two papers reviewing the buying, selling and managing of property have been released by Attorney-General Jarrod Bleijie, and are now available for comment.
Looking to review Queensland’s Property Law, the two papers look to reduce red tape and regulation, said Bleijie.
“It is an exciting opportunity for property professionals, bodies corporate, property owners and the wider community to have their say in shaping this important review,” he said.
“It’s time we brought the property laws into the 21st century to help revitalise the market,” he said. This comes as the <a target="_blank" href="https://www.propertyobserver.com.au/queensland/property-occupations-act-s-impacts-on-qld-agents-michael-davoren/2013121666971">Property Occupations Act has also been undergoing review and changes</a>.
These first two papers are around seller disclosure requirements and body corporate lot entitlements.
The Commercial and Property Law Research Centre at the Queensland University of Technology have partnered with the government in creating these reviews.
“We want all consumers to be properly informed when it comes to buying property,” he said.
“This is about getting the balance right and having a system that promotes the future of the property sector.”
The plan to have these reforms was mentioned in August last year.
Currently, the report explains that there is no single legislative or common law source governing seller disclosure obligations in Queensland.
General principles of current seller’s disclosure obligations under common law include that:
Only latent defects in the seller's title need to be disclosed (e.g. interests registered on the title such as encumbrances, leases and easements).
A seller is not required to disclose defects in the quality of the title (such as land restrictions or contamination issues).
A seller provides no warranty as to the fitness of the property for the purpose for which it was purchased.
The review, which poses a number of questions to real estate professionals, explains that disclosure obligations are currently without underlying principles, leaving the onus on the buyer.
"[Taken] as a whole, the Queensland seller disclosure obligations have evolved over a long period of time without any underlying guiding principles, apart from attempting to address the possible information asymmetry arising as a result of the perceived effect of the doctrine of caveat emptor,” explains the report.
You can <a target="_blank" href="https://www.justice.qld.gov.au/corporate/community-consultation/community-consultation-activities/current-activities/review-of-property-law-in-queensland">submit comments to the review here</a>.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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jduke-EHk3XBmHkn

Property disclosure law up for review in bid to tackle “caveat emptor” doctrine, Queensland

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The terminally ill and the elderly are the suffering victims of one of the latest financial scams on the Gold Coast, leaving one investor forced to rent after losing his $900,000 property portfolio, according to the Gold Coast Bulletin.
Now 17 months after Senator John Williams’ exposure of All About Property Developments Pty Ltd, who was behind the scheme, it seems the victims are still struggling to see any help, with many in a stand off.
The development company scheme, that saw investors obtaining loans from Westpac, has the bank suggesting it is a “fraud matter for police,” the Gold Coast Bulletin reported.
The liquidator appointed to All About Property Developments apparently later found that it had no assets and owned $2.5 million to creditors.
The Bulletin’s investigation, the <a target="_blank" href="https://www.goldcoastbulletin.com.au/news/gold-coast/sick-victims-tired-of-wait-for-compensation-after-financial-scam/story-fnj94idh-1226822145548">latest of which can be read here</a>, has found that investors – some as old as 100 and were given 30-year loans – have lost almost $13 million collectively.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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po-LsXgBTHBmX

Cancer patients and pensioners found to be victims of Gold Coast financial scam

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One of the largest industrial properties within Brisbane's western corridor has been listed for sale with a leaseback from the vendor Hills Ltd.
The 17,455 square metre industrial facility, at <a target="_blank" href="https://www.realcommercial.com.au/property-industrial+warehouse-qld-richlands-501029711">70 Fulcrum Street</a> in <a target="_blank" href="/news">Richlands</a>, is being sold with a leaseback until 30 June 2015.
An expression of interest campaign is being led by Tim Armstrong, Mark Clifford and Greg Russell of Knight Frank.
Knight Frank’s Industrial Director, Mark Clifford said that the property’s position within a prime and tightly held location would be particularly appealing in light of Brisbane’s lack of opportunity of scale.
"Land supplies particularly in the south/west precinct of Brisbane continue to shrink", Clifford said.  "Radius Industrial City at Larapinta, Southlink Estate at Parkinson and Metro West Estate at Darra are close to 100% occupied.
"The recent deal with DB Schenker at Goodman’s Redbank Estate also highlights the quality of the Western Corridor as a location."
 news@propertyobserver.com.au
 
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kjiminez-eaYKfU7qd2

One of Brisbane's largest industrial complexes listed with leaseback

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Luxury apartment complex, Evoque, in Queensland’s Kelvin Grove, is offering body corporate fees at $1,463 per annum as a selling hook for the development, with no gym and no pool offered.
The low rise development, consisting of two buildings with 10 apartments in each, has been designed in a way to avoid elevators and has not included amenities commonly seen in apartment blocks such as pools to keep the body corporate fees lower than other local complexes.
Considering body corporate fees are one of the much checked factors by those considering buying off the plan, this might just be a good strategy as investors remain wary of the fees eroding their return. Property Observer previously wrote about<a target="_blank" href="https://www.propertyobserver.com.au/landlords/low-rise-units-a-better-option-for-first-time-investors-than-high-rise-wbp/2012031953895"> low-rise being preferred over highrise due to the ability to fees and scarcity</a>. Similarly, excessive body corporate fees are regular headline-grabbing events in the property press, with <a target="_blank" href="https://www.propertyobserver.com.au/news/the-block-sky-high-buyers-face-%242234-quarterly-body-corporate-levies/2013072763595">The Block Sky High seeing buyers facing $2,234 a quarter</a> for the first year in body corporate fees.
<a target="_blank" href="/news">Kelvin Grove</a>, a northern Brisbane suburb, has a median unit price of $500,000, according to RP Data, with a 9.5% change in the median price over the past year. Median asking rent is around $435, representing an indicative gross rental yield of 4.5%.
Harcourts Solutions Inner City's Bridget Gabites said that the developer believes that in most complexes the pool and gym are rarely used, and therefore decided not to include them. Instead, there's a shared green space.
“What this means is very inexpensive body corporate costs, with only building insurance, administration and basic maintenance costs to service,” said Gabites.
While homeowners frequently desire the amenity of pool inclusions, many investors are not interested in the features, often seeing them as more of a benefit to the tenant than to their investment.
The 20 apartments are also said to be easier to increase rental returns due to less competition within the complex.
“In larger complexes rentals are priced competitively against others available in the complex, therefore often reducing rental return under heavy competition,” she said.
The apartments are also pet-friendly, and start from $368,000 for a one-bedroom, one-bathroom home with a car space. Two-bedroom apartments with a courtyard start from $495,000.
Value for money, particularly when comparing cost per square metre to other local apartments, is another hook being used to attract investors.
“The price per square metre of Evoque apartments starts at $5,456. When comparing this to similar developments in the area, the price per metre is $6,694,” she said.
One apartment in the complex, a 64 square metre courtyard apartment (one of just two with this feature) with two queen-sized rooms, built in robes, open plan living/dining and a carspace, was <a target="_blank" href="https://www.realestatebrisbanenorth.com.au/kelvin-grove-51-gibb-street-by-bridget-gabites">advertised for price negotiation over $495,000</a>. It is 132 square metres (including courtyard) and includes airconditioning.
Located at 51 Gibb Street, and offering access to a hospital, university, CBD and Kelvin Grove Urban Village, it’s also near a school.
The construction is now due for completion in March, although previous suggestions had been for a late-February completion date. In December 2013, four of the apartments were under offer.
<a target="_blank" href="https://www.propertyobserver.com.au/news/kelvin-grove-to-welcome-cs-development-s-third-project-victoria-park-residences/2013110766233">Another development in Kelvin Grove, CS Development Group’s third apartment project</a>, called 'Victoria Park Residences', features 118 one- and two-bedroom apartments on a 4,000 square-metre site. The development includes a pool, sundeck, barbecue facilities, gym and outdoor workout zone.
It includes one-bedroom apartments ranging in size from 68 square metres to 79 square metres, priced from $343,000, and two-bedroom apartments ranging in size from 83 square metres to 105 square metres, starting from $469,000.
jduke@propertyobserver.com.au
For the latest development listings, brought to you by Property Observer and partners, see our <a rel="nofollow" href="https://showcase.propertyobserver.com.au/">Investor Showcase</a>.
Images are artist impressions.
 
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No gym and no pool a selling point for Kelvin Grove’s Evoque

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The population figures of Pimpama “virtually doubled” between 2007 and 2012, according to the Gold Coast City Council, as the largest masterplanned community in the Gold Coast is underway by Mirvac.
With sales increasing at <a target="_blank" href="https://www.gainsborough-greens.mirvac.com">Mirvac’s Gainsborough Greens</a> in <a target="_blank" href="/news">Pimpama</a>, and a $30 million <a target="_blank" href="https://pimpamajunction.com.au/">Pimpama Junction Shopping Centre</a> is near having all the stores tenanted with opening expected mid-year, the rapid growth is expected to continue. With Visit Gold Coast noting it to be the "last" truly rural area left on the Gold Coast, it's unclear whether this status is set to remain for long.
{qtube vid:=PVKhkCCXLcA}
Halfway between the Gold Coast and Brisbane, on completion there will be more than 2,200 homes, including over 15 hectares dedicated to community-focused fields, such as sporting ovals. Within the development, 65% is dedicated to greenspace, with no home more than 300 metres of a park, playground or recreation area - with 17 parks on completion. The heart of the development is the currently existing 18-hole Golf Course. Community managed environment. Recreational facilities - swimming pools, tennis courts, gymnasium
Tipalea Partners, developers of the shopping centre, has six of the 21 retail spaces remaining in the centre, with tenants seeing the handover in May for fitouts. Trading should begin in mid-June.
Tipalea Partners’ managing director Scott Spanton said that they had initially planned to sell the asset once it was fully leased.
“However, we have decided to retain it as a key investment asset for the company going forward,” said Spanton.
“The amount of growth that has occurred in the corridor since we acquired the land in 2009 has been quite amazing and we believe that level of growth has a significant way to go," he said. Hutchinson Builders won the tender in May 2013.
A Woolworths Supermarket and 20 speciality tenancies will be in place, in what will be the only significant retail centre east of the M1 and north of the Coomera River.
Some of the tenants currently in the speciality shops include a pharmacy, Sushi Ho Ho, Brazilian Café, BWS, a medical and dental centre, My Barber, Hair Rocks, Bargain Mania, Zaza Kebab, Pimpama Bakery, Noodles, a Chinese restaurant, and Westpac and Suncorp ATM machines.
A real estate agency is being sought for tenancy, as are a pizza outlet, fish and chip shop, Indian restaurant and a major bank.
The state government has fast-tracked plans to build a new primary school, on Cunningham Drive North, for January 2015, a year ahead of schedule.
Gold Coast City Deputy Mayor, Donna Gates, said that building approvals in the area are up considerably, with renewed confidence after stronger tourism numbers were recorded this holiday season.
"Pimpama has already been confirmed as the future site for a district sized shopping centre and the new primary school, which will be adjacent to Pimpama State Secondary College, which opened last year, will provide further infrastructure to cater for this growth,” said Gates.
Meanwhile, Mirvac Queensland development director – masterplanned communities, Russell Berlee, said that there are already contracts on 65% of the homesites in the latest release – registered in late-November.
"In the last quarter alone we took 74 deposits, worth a combined total of just over $17 million," said Berlee.
"Interest in Pimpama is at an all time high, with buyers attracted by the location - mid way between the centre of the Gold Coast and Brisbane - the rural outlook, the amount and quality of new development underway and, at the same time, the relatively affordable prices,” he said.
Over the past three months, the majority of building approvals have been for home and land packages. Those priced between $420,000 and $470,000 have been especially popular with families and first time buyers.
Higher end demand is also said to be increasing, particularly for those fronting the Gainsborough Greens gold course – priced between $650,000 and $700,000.
Pimpama is home to Australia's only Zorbing outlet. It is 45 minutes' drive from Brisbane airport.
jduke@propertyobserver.com.au
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Gold Coast's largest masterplanned community underway

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There has been an announcement that the Aquis resort will be delayed for a year.  It still hasn't been approved by the state and local governments and it seems that the sticking point is the approval of the standalone license for the casino.  Getting a project this big approved and started within a year of the announcement was always going to be ambitious.  I think we will hear more over the next few months.  I personally think it will go ahead, and if nothing else, it has been the catalyst for the turn in the Cairns economy and confidence.  
For the past few weeks I have been doing some research for a few buyers.  I have to tell you that the market has well and truly turned.  You can still find a good buy, but they don't hang around long.  You also will be paying more for them than you were even three months ago.  To find a good two bedroom unit under $120,000 is near on impossible, yet before Christmas we had three that were purchased by investors for under $100,000.  
It is not often that I get the crystal ball out, but today I will make an exception.  Before I make my predictions I will go into some back ground information as not everyone has been following Cairns as much as we have.  
Cairns is a relatively new city and most of the building happened in three distinct phases.  The first was in the areas close to the city and <a target="_blank" href="/news">Edge Hill</a>. This would have happened in the very late 1970s and early 1980s.  The unit blocks that were built were either single level or two storey.  They tended to be in smaller blocks and I will guess that at this time there were a lot of duplex pairs that were built.  
The next building phase was between 1988 - 1995 and this was your bomb proof but certainly not pretty developments.  This includes the houses you will find in White Rock, Woree and Brinsmead to name a few.  These were constructed with besser blocks and most of them finished to a budget finish - the besser blocks weren't rendered internally or externally, the kitchens and bathrooms were basic in design and fit out and the fixtures and fittings were cheap.  
The unit developments of this era were mainly in the 5 kilometre CBD circle. This is up to <a target="_blank" href="/news">Edge Hill</a>, around to <a target="_blank" href="/news">Whitfield</a> and south to <a target="_blank" href="/news">Woree</a>.  There were some developments at the northern beaches and some further south down to <a target="_blank" href="/news">Edmonton</a> but the bulk were in the <a target="_blank" href="/news">Manunda</a>, <a target="_blank" href="/news">Manoora</a> and Whitfield area.  These were up to a maximum of three stories high.  The size ranged from a simple four pack up to 45 units.  There were also some duplex pair developments that were done, but if they could squeeze more onto the block - they did.  
The last building phase happened between 2003 - 2008.  This was cut short by the GFC - it literally ground to a halt overnight and the rest is history.  These developments were nice and on a much bigger and grander scale.  We had the development along the northern beaches, the Esplanade in the City and other inner city suburbs.  We also had the mega developments like The Lakes and Cairns One.  Housing was also on a much grander scale and to a much higher specification.  There were very few small developments and even fewer duplex pairs.  I guess the economies of scale just weren't there.  
Article continues on next page. Please click below.
 
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During the rise of the last property cycle, the units that were built in the first and second building phase were pretty much bundled together and sold for about the same price.  Obviously there were slight differences for location and fit out but generally this would be the price near the peak of the market in 2008  
Studio spartments - $80 - 100,000 - these is the really small ones at Chester Court, Jensen Street and even the motel style units at Anderson Road
Bedsit units $110 - 115,000 - this is the type that can be found at 85 Birch, 93 Birch and 55 McCormack Street.
One bedroom units - $150 - 170,000 - the better the presentation the better the price.
Two bedroom units - $220 - 240,000 - I know it is difficult to believe but you really couldn't buy a crappy one for $200,000
Duplex pairs - $500,000 plus.  Yes these are the same duplex pairs I wrote about recently that if you shopped around you could buy for $400,000 and under.
Houses - $300,000 plus.  This would be for a basic three bedroom, one bathroom home in the not so good areas.  
Now to put this into context for today market as it stands right now  
Studio apartments - $40,000 if you hunt around you may even get one lower.
Bedsit units $85,000 - potentially there is $30,000 if the market goes back to just 2007 prices
One bedroom units - $90 - 120,000 - these have dropped but not as badly as the two bedroom units.
Two bedroom units - $95 - 140,000 - if they just go back to 2007 prices there is potentially $100,000 capital gains to be made.
Duplex pairs - $350 - 400,000 - these have gained $50,000 in price since we started tracking them 18 months ago. The fact there are so few pairs around will see the prices go up quickly.
Houses - $250 - 300,000 - this is for your basic home in <a target="_blank" href="/news">Woree</a>, <a target="_blank" href="/news">White Rock</a>, <a target="_blank" href="/news">Manunda</a>, <a target="_blank" href="/news">Manoora</a> etc.  These too have gained ground in the past six months.  You had your choice of houses about six months ago for $250,000 and under.  To find a good house with two bathrooms for under $300,000 is nearly impossible now.  You can find a three bedroom, one bathroom for under $300,000 and these are still worth looking at if this is your strategy.  
The fact that we haven't had any building in seven years, the economy is getting better, the vacancy rate is low and the rents are increasing are all positive factors.  The fact that interest rates are at historical lows is another bonus.  
The game changer is Aquis and the other projects that will follow on.  This will put further pressure on rents and when the investors start to come out and see the prices compared to the achievable rents, they will take notice and start buying.  I am already seeing this now.  I am dealing with more buyers now than I have dealt with all 2013 put together.
I know that some will say that the body corporate levies will put the investors off.  For this example I will use Palm Tree Apartments.  There are 44 units in the complex.  Before the huge insurance increases came in the premium was $6000.  The premium we just paid in May was $32,500.  
For the bedsits they used to pay $93 per year and now they pay $508 or an increase of $415 per annum, or $8 per week
For the two bedrooms they used to pay $186 and now they pay $1016 or an increase of $830 per annum, or $16 per week.  
I know that the other outgoings have also increase, landlords insurance, council rates and water charges - but these haven't been as high.  For this case I will use a bedsit unit.  At the peak of the rental market the highest we achieved was $155 per week.  We are now consistently renting them out for $175 per week and this is set to increase as the rental market continues to tighten.
Linda Tuck is director of <a target="_blank" href="https://www.plrealty.com.au/index">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region.
                   
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ltuck-LoPRMkTfus

Cairns market has well and truly turned and new developments could be a game changer

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Wilston, located 3 kilometres out of Brisbane’s CBD, is a small prestige suburb with a recovering market. Sandwiched between Newmarket and Windsor and bounded at the south by Enoggera Creek, the suburb has a population of 3,872 people, according to the 2011 ABS census.
Kedron Brook Road, Wilston’s main retail strip, has seen significant redevelopment in recent years, pre-empting Brisbane’s urban renewal project.  The suburb is serviced by buses, and trains at Wilston Train Station. It is also close to the Royal Brisbane and Women’s hospital.
Wilston contains a mix of new units and older “Queenslanders”. According to Andrew Wilson, senior economist at Property Monitors, the suburb's strongest growth over the last 12 months can be seen in its mid-range properties.
"The median price in Wilston is around $800,000, making it a prestige inner-city suburb. But in the top end of the market, while there's been some signs of revival, it's certainly been patchy," he said.
"The homes in the $500,000 to $600,000 band have been doing well in the last year, after some weakness from the year before."
Ray White Wilston principal Alistair Macmillan agrees that the suburb's prestige homes have seen a downturn in recent years.
“Post-GFC we have experienced a lot of prestige buyers exiting the market. This meant that home owners wanting to sell were experiencing very little interest and offers, often resulting in homes being sold well under owners expectations,” he said.
“Over this time frame we saw a lot of homes on the market with very few selling. From 2008 to 2013 we have seen very little change in the median sale price, ranging from $400,000 to $500,000. The main reason for this was the lack of prestige homes that were sold, unlike the height of the market in the early 2000's where we say the median price increase to well over $1,000,000.”
But according to Macmillan, the prestige market has been strengthening over the last year. The buyers he encounters are mostly young families with professional occupations, drawn to the suburb's schools.
“The most encouraging signs recently have been a large number of homes selling over the past 12 months in the higher price ranges showing an increase in buyer confidence in this prestigious market.
“Over the past year there have been 9 homes sold in Wilston over $1,200,000, with the most number of sales being homes from $700,000 to $800,000. This is a great sign of consumer confidence not only in real estate but Wilston in particular. Last year Ray White Wilston sold the highest priced property on a 405 square metre block, which was $2,020,000.”
However, Wilson says that he is yet to see evidence of a sustained revival of the top end of Wilston's property market. 
"There's no sign of a sustained revival of prices in the prestige market," he said.
According to Wilson, Wilston's overall market will be seeing growth in later years. 
"Wilston's revival will happen at the later stages of Brisbane's momentum, once the market is up and running. We'd have to see a strong revival in the state's economy, which is on the cards. The trend will be up - but not quite yet."
<a target="_blank" href="mailto:jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au</a>
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Suburb Spotlight: Wilston, a recovering market

<html><body>Australian Property Monitors (APM) has released a list of auction results in Brisbane for the weekend of February 8. <a target="_blank" rel="nofollow" href="https://www.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Brisbane auction results for February 8 weekend

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It has been an interesting start to 2014. Traditionally we get quite a few tenants vacating in December.  This happened to a fair bit and if we don't have these properties re-let by mid to late December, the chance of reletting them drops each day.  Between the December 20 and the first business day back from New Year there is a very remote chance someone will be wanting to rent a property out.  

Traditionally on the first business day back from New Year there is a huge demand from people looking for rental properties.  We have a large number of people moving to Cairns for the start of the year - teachers, doctors, nurses, police, university students and TAFE students to name a few.  
We were back in the office for this when the phone simply didn't ring for the first week back - I started to worry.  
If you did a search for all available rentals in the Cairns greater region mid to late 2013, you would have found between 550 - 650 available rentals.  This covers an area from <a href="/news">Gordonvale</a> up to <a href="/news">Palm Cove</a>.  It also includes all rentals from a small budget studio, right the way up to an executive home.  For the first few weeks of January this figure was just over 900 or a 50% increase.  It has now gone down to 890 but it is still much higher than what we had prior to Christmas.  
We had a unit that became available just before Christmas.  It is small, but it is a really nice unit.  We have repainted it internally, had new lights and fans installed, new curtains and the furniture upgraded.  It presents really well. It has a kitchen with an upright stove, a fridge and even a washing machine in the bathroom.  These are really popular with people that are on a budget and don't want to share.  We were easily renting them out for $175 per week last year.  This particular unit sat for weeks without any one even asking to inspect inside.  I dropped the price to $170 per week and in four weeks we had a total of two inspections.  Fortunately a lovely Korean couple has taken it, but it was bringing back memories of the barrel which I just don't want to get back into.  
The level of enquires was lower but the "trash element" was so much higher.  It was not restricted to just this budget property, it went right the way through the available rentals.  Fortunately we have managed to clear most of the vacancies and just have a few left.  
I am hoping it is a combination of a few factors:  
<ul>
<li>
Christmas and New Year left over quiet phase
</li>
<li>
Wet season down time - it has been incredibly hot and humid
</li>
<li>
Brewing cyclone off the coast - this sent things quiet all this week
</li>
<li>
Later start to the year - school and contracts seem to be starting at the end of January rather than the traditional early part of January.
</li>
</ul>
Although we have dropped the rents slightly, they are still at higher levels than they were 12 - 18 months ago.  This is assuming that the property presents well internally.  I can't tell you how often the potential tenants tell us that the other properties they have seen are just awful - particularly when they walk into one of ours that presents well. 
This is going to be a key part of getting and keeping good tenants in 2014.  It is also crucial for us to be able to get higher rents.
Linda Tuck is director of <a href="https://www.plrealty.com.au/index" target="_blank">Cairns Property Ladder Realty</a>,  an independent real estate agency in specialising in property management, investment and sales expertise in the tropical Cairns region. 
 
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 RELATED ARTICLES:
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/slow-start-to-the-year-for-cairns-local-market-update/2014021267563?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">Cairns market has well and truly turned and new developments could be a game changer</a> by Linda Tuck
Suburb spotlight: Cairns enjoying low vacancies
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