ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

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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KordaMentha and its affiliate firm Calibre Capital have been appointed joint trustees of the $350 million Gold Coast-based LM Managed Performance Fund (LMPF).
The Supreme Court of Queensland made the appointment.
The LMPF raised about $350 million from unit holders and is the second largest mortgage investment fund in the LM Group, once one of Australia’s biggest mortgage fund operators. 
Most of the $350 million invested in LMPF came from overseas investors. The principal asset of the fund is an <a target="_blank" href="https://www.propertyobserver.com.au/developments/irregularities-suspected-in-lmim-s-maddison-estate-mortgage-fund-reports/2013040160117">investment in Maddison Estate</a> (pictured below), a large proposed residential development on the Gold Coast which has recently been the subject of debate about its value.
<img alt="maddisonapril15one" height="327" width="470" src="/images/stories/2013/04/maddisonapril15one.jpg">
The LMPF was previously under the control of administrators of LM Investment Management Limited (LMIM), which was also the trustee.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/jamie-durie-s-garden-designs-wilt-as-gold-coast-mortgage-fund-manager-lm-investment-management-placed-in-voluntary-administration/2013032459976">John Park and Ginette Muller were appointed voluntary administrators of LMIM on March 19</a>.
They then applied to the Supreme Court to be appointed receivers however on Friday last week the court made an order appointing KordaMentha and Calibre Capital as joint trustees, replacing LMIM.
KordaMentha partners David Winterbottom and Simon Vertullo will handle the trusteeship for KordaMentha.
"The court was concerned to ensure that someone was in place actively and independently managing the fund in the best interests of unitholders," Mr Winterbottom said.
"Our urgent priority is to determine the financial position of the managed performance fund and implement strategies to protect and enhance the value of the loans in the Fund.
"We will also be immediately investigating past transactions relating to the fund and vigorously pursuing any claims coming out of those transactions."
The law firm Piper Alderman, which represents a group of LM investors, said in a statement at the weekend that it was confident KordaMentha will be able to represent their interests free from any conflicts that may be associated with having the administrators of LMIM fulfil the role of trustee.
The LMPF is not to be confused with the other large LM fund, the LM First Mortgage Income Fund, which remains under the control of its responsible entity, LMIM.
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Trustees appointed to Gold Coast-based LM Managed Performance Fund

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Sydney property developer Rory O’Brien has won the right to sue Bankwest over its 2009 decision not refinance a loan for his $282 million Whisper Bay luxury development at Airlie Beach.
The clawback of the loan forced the luxury Whisper Bay development (pictured below), which counted former prime minister Bob Hawke as a buyer and promoter, into receivership in May 2009, months before it was due for on-time completion.
<img src="/images/stories/2013/04/whisperbayapril12one.jpg" width="470" height="307" alt="whisperbayapril12one">
The claim against Bankwest is also likely to shed light on the Commonwealth Bank's conduct following its acquisition of Bankwest in October 2008 and claims it unfairly foreclosed on hundreds of loan arrangements.
Yesterday, the NSW Court of Appeal overturned a decision made in May last year in favour of Bankwest's claim against O’Brien and other guarantors for payment of the balance of an outstanding loan (a sum of around $158 million) following the sale of the Airlie Beach development to David Marriner for $56 million in 2010.
The project had once been valued at more than $250 million.
The Court of Appeal also struck out the May ruling preventing O’Brien from making a counter-claim against Bankwest for breach of contract.
The counter-claim by O’Brien struck at the heart of subsequent allegations made against the Commonwealth Bank, -that it was able to negotiate a cheaper purchase price of Bankwest if there were more bad loans on the Bankwest book.
The Court of Appeal judgement notes that O’Brien had claimed that Bankwest took the steps it did “at the direction of a third party (in order that there might be a reduction in the price to be paid for the acquisition of the Bank)”.
Apartments in Whisper Bay carried price tags of between $1.5m and $6.75m.
It had achieved around $106 million in pre-sales and was due for completion in December 2009 when Bankwest issued a notice of demand for the repayment of a $180 million loan facility in May 2009.
The loan was due to mature in January.
The development was subsequently placed into receivership with around one-third of the 104 apartments in the project sold.
At the time he lost the development O’Brien said that all that still needed to be done was “put the front of the office in, the bar and the furniture".
The demand that O’Brien repay the loan came just eight months after the Commonwealth Bank acquired Bankwest for $2.1 billion in October 2008.  
This, and other demands of repayment by Bankwest, sparked a Senate inquiry led by Nationals Senator John Williams into changes in bank lending practices since the GFC.
The inquiry heard from 150 Bankwest customers, who claimed the bank unfairly and unconscionably foreclosed on their loans after the Commonwealth Bank takeover.
In August last year Property Observer reported around 120 businesses had signed up to law firm Slater &amp; potential class action for aggrieved borrowers/mortgagors against BankWest and the Commonwealth Bank.
O’Brien’s successful appeal against the May 2012 judgement, which included costs, is expected to throw further light on the conduct of Bankwest as well as details of the sale of the bank to the Commonwealth Bank.
Had the NSW Court of Appeal not ruled in his favour the earlier decision would have bankrupted O’Brien.
“We can now sue the bank for a breach of contract that their termination of our agreement was for an improper purpose and we can pursue whether or not the claw back arrangement was relevant to Rory’s case,” said his lawyer Andrew Sutherland of Russells.
The case dates back to 2006 when Bankwest entered into an agreement to provide a $175 million loan to refinance the development.
On April 6 2009, O’Brien and his Middle East business partner, Essque Hotels and Resorts received a letter of demand from Bankwest for “moneys then outstanding under the facility agreement”.
Bankwest then terminated its lending facility provided for the development and "subsequently appointed receivers and managers…and in due course the property the subject of the refinancing arrangements was sold.”
On 28 January 2011, Bankwest demanded payment from the guarantors of the balance then outstanding (after the sale of the property to Marriner) under the previous lending agreement.
In the now oveturned 2012 judgement, Justice Robert McDougall ruled that O’Brien was liable for the funds his company had borrowed.
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Developer Rory O’Brien wins right to battle Bankwest-Commonwealth Bank over Whisper Bay receivership

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FKP's $210 million development The Milton, which integrates transport with residential living, is currently 65% sold.
It is the first Transit Orientated Development (TOD) to be released under the South East Queensland Regional Plan.
Located near Milton railway on Railway Terrace – 1.5 kilometres from the Brisbane CBD – The Milton comprises of 298 one-, two-, and three-bedroom apartments across 30 levels.
<img alt="miltonapril12one" height="461" width="470" src="/images/stories/2013/04/miltonapril12one.jpg">
“The exciting notion of TOD has been embraced in major metropolitan centres around the world and we expect The Milton will pave the way for more TOD to be released right across the city,” says FKP Director of Developments Mark Jewell.
The complex will comprise 1,200 square metres of street level retail space, a roof top observation deck with landscaped BBQ areas and a leisure deck boasting a pool and gymnasium.
<img src="/images/stories/2013/04/miltonapril12three.jpg" width="470" height="290" alt="miltonapril12three">
Positioned on the podium level, level six, will be an exclusive Club Lounge with Armani Casa furniture.
One-bedroom apartments range in price from $410,000 to $584,000 and two-bedroom apartments range in price from $675,000 to $938,000.
One and two bedroom apartment range in size from 60 square metres to 97 square metres.
A limited number of three-bedroom apartments have just been released also starting from $675,000.
The development has currently sold 65% off-the-plan apartments, totaling $110 million.
FKP says they have been inundated with enquiries and expect sales to soar in the coming months as these enquiries translate into sales.
<a href="https://www.propertyobserver.com.au/leisure/queensland-based-dbi-design-wins-award-for-abu-dhabi-hotel-etihad-towers/2012012253088" target="_blank">DBI Design will design the Milton’s architecture and interior.</a>
<img src="/images/stories/2013/04/miltonapril12two.jpg" width="470" height="353" alt="miltonapril12two">
“Milton is just two train stops from the CBD, giving residents accessibility and convenience, reducing the reliance on cars and allowing them easy access to destinations right across Brisbane,” says Jewell.
“Milton has historically been one of Brisbane’s most sought-after suburbs and is one of the most undersupplied markets in inner Brisbane.”
“The Milton is meeting demand with its prime location, access to transport and the array of renowned restaurants, cafes and shops along Park Road,” says Jewell.
Brisbane Lord Major Graham Quirk turned the first sod on March 27.
The development is scheduled for completion in 2015.
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FKP's $210 million development The Milton starts construction with renewed buyer interest

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A 27 square metre serviced apartment in South Brisbane promising returns of around 7.5% is being offered for sale aimed at self-managed super fund investors. 
Located at 42 Montague Road  and close to the Suncorp Stadium, it is managed by corporate accomodation operator AHR Group.
It is listed for $160,000 with a new 10-year lease is in place. 
The building currently operates as Riverside Hotel Southbank.
Facilities include hotel-style accommodation as well as an outdoor swimming pool. Body corporate and repair costs are borne by the manager. 
According to RP Data, another 27 square metre unit in the building sold in December last year for $153,250. In the same month, another 27 square metre unit sold for $160,000. 
“Annual net rental of $12,000 is guaranteed by the management rights operator AHR group,” George Koukides, the First National – Commercial listing agent said.
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SMSF serviced apartment investment opportunity in South Brisbane offers 7.5% return

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A “steady stream” of investors are adding their names to what could become a Slater &amp; Gordon class action against financial planners who recommended they invest in mortgage funds issued by collapsed Gold Coast-based fund manager and developer LM Investment Management (LMIM).

Slater &amp; Gordon had already issued legal proceedings against financial advisors on behalf of a number of those investors and says more proceedings will be issued in coming weeks.
LMIM was placed into voluntary administration last month with initial reports suggesting there may be <a href="https://www.propertyobserver.com.au/developments/irregularities-suspected-in-lmim-s-maddison-estate-mortgage-fund-reports/2013040160117" target="_blank">irregularities in how some of the funds operated</a>.
Administrators John Park and Ginette Muller from FTI Consulting have applied to become the receivers of the $400 million LM Managed Performance Fund, which has the $1 billion Maddison Estate on the Gold Coast as its primary investment asset. The application has the backing of ASIC, The Australian Financial Review reported.
Another Gold Coast residential development backed by the same LMIM fund, the 271-unit Rhodes apartment development (pictured below) on Mount Cotton Road at Capalaba is caught up in the collapse of LMIM.
<img alt="lmimapril10one" src="/images/stories/2013/04/lmimapril10one.jpg" width="470" height="264">
Last week administrators revealed the business lent its founder, Peter Drake, a loan worth $17 million.
Slater &amp; Gordon commercial litigation lawyer Mark Walter has told Property Observer the firm continues to field inquiries from investors and is confident of commencing proceedings in the “near future”.
The exact form they will take has not been decided but it could a class action with Slater &amp; Gordon specialists in this area.
Previous class actions have included litigation on behalf of investors against financial planners who recommended investments in Basis Capital Funds; a fund linked to the US sub-prime market, Premium Income Fund and collapsed Gold Coast property and financial services group MFS.
 
<hr class="system-pagebreak">
Walter says some investors have up to $1 million invested in LMIM mortgage funds, but have little prospect of getting any of their money back.
Instead investors will seek to reclaim their money from financial advisers – LMIM used as many as 250 different financial advisory firms.
“Any advisor needs to have a reasonable basis for their recommendations,” says Walter.
He says the timing and the circumstances of these recommendations have been called into question with queries about the appropriate of recommending these product types for investors.
“Planners are required under the corporations act to be able to match up their recommendations with their clients’ objectives,” he says.
Walter warns that a six-year time limit generally applied for anyone wanting to sue, meaning anyone who invested in 2007 during the pre-GFC boom period needed to obtain immediate legal advice.
“We believe there is a large number of viable claims against financial advisors who recommended this and other high-risk products that will be affected by the time limit,” Walter says.
“It's important that people exercise their right to hold their advisors to account and seek legal advice before it is too late.
“We have found that funds like LM were particularly popular among financial planners in communities where there are large populations of retirees with money to invest.
“The people we are talking about are typically risk averse and conservative and have relied on the professional advice of financial advisors to invest in these funds. It is debatable whether these funds were appropriate for them given their conservative needs.”
Another law firm, Piper Alderman, has also been assisting unit holders who invested in the LM First Mortgage Fund in respect of a class action.
Piper Alderman partner Amanda Banton and her team are investigating claims against the responsible entity of the Fund, LM Investment Management Limited, its directors and other third parties, including advisors, associated with the fund’s demise with a view to bringing a class action or any other appropriate action.
“Those actions will seek to recover the losses sustained by unit holders, many of whom are elderly persons who invested their life savings,” says Piper Alderman.
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Angry investors line up to sue financial planners who spruiked LMIM mortgage funds

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Foreign buying expenditure in Queensland soared past the 10-year average with a total of $443.5 million spent on residential property during the last financial year, according to the latest Foreign Investment in Queensland Residential Property report by Colliers International.
This is an expenditure increase of 33% from the previous financial year, with 67% of property bought for investment purposes and the other 33% owner-occupiers.
Gold Coast continues to dominate as the top choice with $237.1 million spent last financial year – an increase of 43% from the previous financial year.
China is the dominant buying country for the third consecutive year, with its buyers spending a total of $184.9 million.
China accounted for 42% of total foreign purchases in Queensland and its buyers increased their spending by 73% from the previous financial year.
The report noted that 72% of Chinese buyers bought for investment purposes while the other 28% bought as owner-occupiers.
The report also noted that Chinese buyers preferred to purchase in the Gold Coast.
Singapore comes in second place with a total expenditure of $29.24 million on residential property in Queensland over the past financial year.
This is an increase of 150% on spending by Singaporean buyers from the previous financial year, but well below their peak in the 2002/2003 financial year of $54 million.
Gold Coast was the top choice for foreign investment by Singapore buyers.
However, the United Kingdom dominates the foreign buyers list for the past ten years, over which time its buyers have spent a total of $687.5 million.
The report notes that foreign purchasers from the United Kingdom prefer to invest in Brisbane.
Brisbane ranks as the second top foreign investment location with a total of $135.9 million spent across 298 residential transactions over the past financial year.
Although buyers from United Kingdom favour Brisbane as a foreign investment location, China dominated spending in Brisbane over the last financial year with $62.6 million spent.
Of the 298 residential property transactions that took place during the last financial year in Brisbane, 51% of purchases were for investment purposes and the remaining 49% were for owner-occupation.
Buyers from the United Kingdom spent $8.6 million over 22 transactions in Brisbane last financial year.
The report says the easing of interest rates and stable economic conditions should see the current level of investment by foreign nationals continue.
It is also noted that China will continue to dominate the Queensland residential property market as the state is seen as a safe haven which offers diversification for property investors from China.
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Gold Coast top choice in Queensland for foreign investors

<html><body>Australian Property Monitors (APM) has released a list of results from auctions in Brisbane for the weekend of April 6. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf" target="_blank" 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>

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APM's Brisbane auction results

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A Gold Coast brothel that was formerly owned by bankrupted Gold Coast entrepreneur Ken Lacey was passed in at auction last Wednesday despite strong interest from investors.
The glitzy brothel was passed in on a vendor bid of $1.5 million with no bids from the five buyers present at the auction.
Ray White agent Sam Johnson says he expects the premises to sell within a few weeks.
“We’re dealing with about eight people now. The hottest buyers in the room weren’t in the position to buy it at auction. They needed approval for more financing,” Johnson says.
“If bidding had started they might have chucked their hand in the air to make sure it didn’t sell.”
It’s now on the market for $2 million.
Johnson expects the property to rent for around $180,000 per year, which would give potential investors a 9% gross yield.
Johnson says all interested parties were interstate investors.
The property at <a target="_blank" href="https://www.propertyobserver.com.au/https://www.raywhitecommercial.com.au/nsw/chinderah/786190">31-33 Morton Street Chinderah</a> is a 568-square-metre two-level building with current approval for a 24-hour brothel formerly known as Lacey’s Club Lace bordello.
{yoogallery src=[images/stories/2013/03/march20lacey]}
The property was originally developed by Ken Lacey for his incarcerated sons.
Johnson says Lacey has since withdrawn from the sex industry.
“The property certainly has a colourful history as a previous owner of the brothel Victor Elliott was gunned down there in a contract killing in 2000,” Johnson says.
The brothel contains a kitchen, a laundry, an office, five bedrooms with ensuites on the ground floor and a large entertainment area on the first floor with a kitchen and private function rooms.
The bedrooms include luxury beds with red and white wall themes, hanging picture frames, and a complementary bath or spa.
The property also includes two large warehouses, an office and a hardstand.
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Bidders look but don’t touch at Ken Lacey  brothel auction

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House prices grew spectacularly in the rural Queensland town of Wandoan on the back of mining activity in the area with yields as high as 22.2% being touted, but recent reports suggest the biggest project in the area may not go ahead.
<a target="_blank" href="/news">Wandoan</a>, 300 kilometres northwest of Brisbane in the Surat Basin, had the highest price growth of any rural suburb in Australia, according to Residex’s February data. It says the median house price grew 29.95% for the year ending February.
<img src="/images/stories/2013/04/wandoanapril4three.jpg" width="470" height="295" alt="wandoanapril4three">
Mining company <a target="_blank" href="/companies/xstrata">Xstrata</a> was due to develop the biggest coal mine in the southern hemisphere just west of Wandoan, but a proposed merger with commodities company Glencore has put those plans in jeopardy.
Glencore is in negotiations with the Chinese government to approve its $35 billion acquisition of Xstrata. If it goes ahead it will make it the world’s fourth largest diversified mining company and the largest commodities trader.
Glencore chief executive Ivan Glasenberg recently told investors the merged company would be avoiding greenfield projects.
“Greenfields are risky. Greenfields do have capital overruns. Greenfields do have delays which kill the NPV (net present value) on those projects,'' he told investors in London.
That means the $7 billion Wandoan thermal coal mine now hangs in the balance.
It has been on the cards since 2007 but has faced numerous setbacks including pressure from local landowner disputes. It has yet to receive final approval.
If developed, the mine is expected to produce 30 million tonnes of coal a year.
According to RP Data, the median house price in Wandoan is $365,000, increasing 15.9% over the last year. The median asking rent is $600 per week, giving an indicative gross yield of 8.5%.
According to ABS census data, the suburb has a population of 655 people with 450 private dwellings, 35% of which are unoccupied. Most dwellings are three or four-bedroom houses.
 
<hr class="system-pagebreak">
Listings on online real estate portals for properties in Wandoan reveal 51 properties up for sale, made up primarily of residential land and houses.
A fairly basic three-bedroom property on 857 square metres at <a href="https://www.realestate.com.au/property-house-qld-wandoan-113302443">9 Hoffman Street</a> is listed for sale at more than $300,000. The property is marketed as “mining accommodation” and has an advertised rental return of $500 to $600 per week, giving a potential gross yield of 10.4%.
A three-bedroom timber home on 809 square metres at <a href="https://www.realestate.com.au/property-house-qld-wandoan-112443951" target="_blank">24 Weldon Street</a> (pictured below) is listed at $380,000. According to RP Data the asking price has dropped from $420,000 in January. It was last listed for rent at $450 per week in 2010.
<img src="/images/stories/2013/04/wandoanapril4one.jpg" width="470" height="352" alt="wandoanapril4one">
And a three-bedroom house marketed with potential as accommodation for work crews at <a href="https://www.realestate.com.au/property-house-qld-wandoan-108220306" target="_blank">16 Hoffman Street</a> is listed at $350,000. According to RP Data the 809 square metre property last traded for $68,000 in 2005.
A <a href="https://www.realestate.com.au/property-residential+land-qld-wandoan-200535939" target="_blank">602-square-metre block of residential land</a> is listed at $242,000 or $402 per square metre.
And a <a href="https://www.realestate.com.au/property-residential+land-qld-wandoan-200475019" target="_blank">500-square-metre block</a> (pictured below) on the same lane is listed at $250,000 or $500 per square metre.
<img alt="wandoanapril4two" height="353" width="470" src="/images/stories/2013/04/wandoanapril4two.jpg">
LJ Hooker agent Mark Robinson, based in Brisbane, has a number of properties in the area listed for sale including two big mining accommodation developments.
He says prices are going up in the town, driven by a massive undersupply of accommodation.
Accommodation is taken up by workers from a number of projects in the area, particularly the $1.4 billion water pipeline to Dalby.
Robinson says big companies are winning contracts in the area but are unable to house workers in the town which has driven rents up massively.
“The problem is Wandoan is there’s not enough accommodation. That’s basically it,” Robinson says.
He says even if the Xstrata project doesn’t come online there is still strong demand from other projects.
“It’s on the border of the Surat Basin. The whole thing up there is getting driven by coal-seam gas which gets piped to <a target="_blank" href="https://www.propertyobserver.com.au/queensland/gladstone-property-market-cooling-with-some-20-price-corrections-htw/2013010858637">Gladstone</a>,” Robinson says.
“Xstrata have merged but coal prices are still good. You’ve got Gina Rinehart up there. You’ve got a lot of action around the area. You’ve only got to look at Mooloomba to see what happens to a town that needs accommodation.”
One of the developments Robinson is selling is a series of new five-bedroom houses built specifically to house miners.
The six properties sell for $820,000 each and Robinson says each property could earn a staggering $3,500 per week for short-term tenants. That’s a potential gross rental yield of 22.2%.
“It’s a changing space up in these mining places. It’s a work in progress. I don’t think anyone has estimated how many people will come in if everything comes online,” Robinson says.
“I think it’s definitely an investment hotspot.”
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Queensland mining hamlet Wandoan records 30% house price growth in one year: Residex

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There has been some pick-up in the Gold Coast property market, but it still takes almost six months on average to sell a residential property, according to the latest market update from Australian Property Monitors (APM).
Average days on market on the Gold Coast have reduced from 184 a year ago to 173 as of February 2013 - the long-term average is 130 days.
The average discount required to sell a property has also reduced marginally from 11.6% to 10.3% and is approaching the long-term average of 9.7%
According to APM, there are 11,000 properties listed for sale on the  Gold Coast, nearly 20% less than a year ago, but still 1.5% higher than the long-term trend.
"High levels of unsold properties will remain a drag on a sustained Gold Coast housing market revival in 2013," says APM.
"This is particularly the case for the unit market, which continues to suffer from high listing numbers with prices down by 1.6% over the December quarter and down 7% over 2012.
"The local economy however is doing its part, with the latest unemployment rate recorded by the ABS over January at 5.8% compared to the 6.7% of January 2012.
<img src="/images/stories/2013/gold_coast_days_on_market.gif" width="565" height="431" alt="gold_coast_days_on_market">
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