Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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If negative gearing is abolished, then renters should be prepared to pay 50% or more extra according to Chan &amp; Naylor.
While it has recently been argued that the government would save $5 billion in the first year by abolishing negative gearing, Chan &amp; Naylor’s Ken Raiss said that wider economic uncertainty and social dislocation would result as investment properties would quickly be re-directed into the hands of commercial landlords who would charge more.
With 96% of public housing provided by private investors, the majoring being ‘mum and dad’ investors, Raiss explains that as a result rental properties are available at varying levels of affordability.
Raiss argues that if the tax effect is taken out, then the 90% stock owned by mum and dad investors with one or two properties (73% an 18% respectively) will be bought up by commercial landlords who will charge more in order to get the higher rental yields that they typically see on their commercial portfolios.
Raiss notes that yields for commercial property are typically 50% above residential property.
 “Like any other public utility, as soon as they enter private and more entrepreneurial hands then prices will go up, and in the case of public housing this could lead to a rental price hike of as much as 50% over time, resulting in the government having to shoulder the weight of providing a much larger percentage of housing for tenants and social dislocation for those unable to receive government housing,” said Raiss.
“Small business owners wouldn’t invest in a new or start up business if they couldn’t claim their losses, so there is no reason why property investment should be any different,” he said.
In fact, his view is that property investors face a significant challenge of buying somewhere with enough growth that it offsets all their costs in the meantime.
“Property is the biggest asset most people will own, and so they need to surround themselves with professionals who can offer advice in making considered and informed decisions, such as buying in the right market and property cycle or choosing a property with the opportunity to raise equity through renovation or improvement, boosting both capital value as well as rental yield,” he said.
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Be prepared to pay 50% more rent if negative gearing goes: Chan & Naylor

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Reactions to the federal Parliament’s report into foreign investment in real estate have been mixed with some welcoming its recommendations and others claiming it has missed an opportunity to improve housing affordability.
The report by the House of Representatives Standing Committee on Economics <a href="/news/no-surprises-in-kelly-odwyers-12-firb-report-recommendations">made 12 recommendations</a> centred on better enforcing existing regulations, increasing the penalties for non-compliance and improving access to data on foreign investment.
The Property Council of Australia, the Housing Industry Association and The Urban Development Institute of Australia agreed the recommendations would support housing activity in Australia, boosting the economy and adding to the supply of homes.
“We welcome foreign investment in residential real estate as it provides up to 35% of a new development,” Nick Proud, executive director of the Residential Development Council at the PCA said.
HIA chief executive, industry policy and media Graham Wolfe said foreign investment through pre-sales in multi-unit developments could be crucial to ensuring projects came to market.
“[This] obviously benefits potential domestic buyers as well as renters, through more choice and competition,” he said.
But buyers’ agent Patrick Bright, director of EPS Property Search, said he was disappointed that stronger action had not been taken to curb foreign investment which he said was putting upward pressure on property prices.
“To be frank I am shocked that the government is going to continue to put the desires of wealthy foreigners ahead of its own citizens and ahead of the best long-term interests of the country. The government is also clearly putting the interests of developers ahead of every day Australians,” he said.
Bright’s concerns echo views put forward in private submissions to the inquiry. For example, Jennifer Jaeger said in a submission: “I do not believe that continued overseas investment in Australian residential real estate provides ongoing benefits to Australian residents who are finding themselves “priced out” of purchase and rental booms.”
A submission from First National Real Estate noted that property prices in suburbs that attracted Asian investors had risen more quickly than prices in neighbouring areas that were less attractive to foreign buyers. It gave the examples of Carlingford compared with North Rocks, Coogee versus Randwick and Marrickville compared with Arncliffe/Rockdale in Sydney.
Under existing legislation, foreign nationals can only buy newly constructed dwellings and are prohibited from buying established homes. Temporary residents can buy one established dwelling as their residence but they must sell within three months of leaving the country.
However, the report noted some foreign buyers may be breaking the rules. It was highly critical of the Foreign Investment Review Board’s collection of data and enforcement of existing regulations, saying there had been a “significant failure of leadership at FIRB”. It recommended a number of changes to strengthen enforcement and toughen penalties for non-compliance.
UDIA National President Cameron Shephard said foreign investors that weren’t complying with the rules gave a bad name to those that did the right thing.
“Any changes to the administration of the rules, such as the introduction of an application fee, will have to be very carefully considered, so that they do not unnecessarily deter law abiding investors,” he said.
Nyko Property estate agent Bill Nikolouzakis said the $1,500 fee that was recommended by the report, and estimated to generate revenue of $158.7 million over four years, would be too small to deter foreign buyers and could be put towards better resourcing the FIRB.
“This would continue to allow us to attract foreign investors … while giving FIRB the resources to ensure they are identifying and penalising foreign investors who contravene the law,” Nikolouzakis said.
“Putting a process in place to help identify the foreign investors doing the wrong thing and the individuals helping them is the key. Further, the penalty must be enough of a deterrent to make an effect. If no one is being caught or the deterrent is not sufficient, it will not have the desired outcome,” he said.
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Mixed reactions to federal foreign buyer inquiry recommendations

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Twenty Pie Face stores are in the process of closing their doors for the final time, just one week after the pie franchise <a href="https://www.smartcompany.com.au/finance/44731-pie-face-plunges-into-administration" target="_blank">collapsed into voluntary administration</a>.
Administrator Sule Arnautovic of Jirsch Sutherland said this morning five company-owned Pie Face stores closed in Melbourne yesterday. 
Arnautovic said another eight company-owned stores in New South Wales will close, along with three in Queensland and one in Western Australia. Two franchised stores have also been closed. Approximately 130 part-time employees will lose their jobs as a result of the closures. 
The Pie Face store on Flinders Lane in Melbourne’s CBD shut its doors on Thursday afternoon and did not open again this morning. Phone calls to the store this morning went unanswered.
Jirsch Sutherland has <a href="https://www.smartcompany.com.au/growth/franchising/44750-five-lessons-from-the-collapse-of-pie-face" target="_blank">previously indicated</a> the source of Pie Face’s troubles is the group of 29 company-owned stores in the network, and Pie Face itself said last week it will seek to restructure the business to focus on its franchise and wholesale business. At the time of entering administration, there were 70 Pie Face stores in Australia, 43 of which are franchised. 
While Arnautovic says it is "unknown at this stage" if there will be any further store closures, he says "the balance of company-owned stores will likely continue if the group's restructure is approved by the group's creditors". 
A meeting of Pie Face franchisees, management and administrators is expected to take place next week.
While the company’s investors and at least <a href="https://www.smartcompany.com.au/finance/44770-pie-face-collapse-franchisee-says-claims-of-unprofitability-are-nuts">one franchisee</a> have said they believe the chain will survive the administration process, franchising expert Howard Bellin <a href="https://www.smartcompany.com.au/growth/franchising/44792-pie-face-concept-wrong-says-franchise-expert-but-investors-stand-firm" target="_blank">said yesterday</a> he has serious “doubts” about the ability of the company to “stand the test of time”.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Pie Face to shut 20 stores ahead of meeting with franchisees next week

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CoreLogic RP Data has released a list of the top 10 rental yield suburbs, for houses, across the country.
Dominated by Western Australia, with six results, Queensland’s Miles and Western Australia’s Newman both achieved the top result at 9.8%.
Queensland had two suburbs make the top 10, while New South Wales and Tasmania achieved one result each.
Here’s CoreLogic RP Data’s top 10.
<ol>
<li>
<a href="/news">Miles</a>, Dalby, Darling Downs, Queensland 9.8% 
</li>
<li>
<a href="/news">Newman</a>, East Pilbara, Pilbara, Western Australia 9.8% 
</li>
<li>
<a href="/news">Kambalda East</a>, Coolgardie, South Eastern, Western Australia 8.9% 
</li>
<li>
<a href="/news">Queenstown</a>, West Coast, Mersey-Lyell, Tasmania 8.5% 
</li>
<li>
<a href="/news">Broken Hill</a>, Unincorporated New South Wales, Far West, New South Wales 8.5% 
</li>
<li>
<a href="/news">South Hedland</a>, Port Hedland, Pilbara, Western Australia 8.4% 
</li>
<li>
<a href="/news">Port Hedland</a>, Port Hedland, Pilbara, Western Australia 8.0% 
</li>
<li>
<a href="/news">Kambalda West</a>, Coolgardie, South Eastern, Western Australia 8.0% 
</li>
<li>
<a href="/news">Baynton</a>, Roebourne, Pilbara, Western Australia 8.0% 
</li>
<li>
<a href="/news">Cloncurry</a>, Cloncurry, North West, Queensland 7.0%</li>
</ol>
Source: CoreLogic RP Data.
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Australia’s top 10 highest yielding house suburbs: CoreLogic

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These five ballrooms are unlikely to have ever seen a minor celebrity (let alone Daniel MacPherson), but they still deserve a standing ovation.
While ballrooms are typically associated with grandeur and gowns, they are sometimes hiding where you wouldn't expect them. An unassuming 1950s <a href="/news/strictly-ballroom-devotees-for-baldwell-park-offering">Bardwell Home is currently on the market</a>, with a ballroom custom built for the Joan Allen Dance Studio.
Other ballrooms have made sure to meet the black tie dress code, with timber parquetry, chandeliers and bay windows.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-blackheath-118033759" target="_blank">179-181 Wentworth Street, Blackheath, NSW</a> 
 <img src="/images/2014/11/28/1.jpg" alt="">
Yabba Yabba, a circa 1888 restored heritage mansion, is one of Blackheath’s earliest guesthouses. It features a formal ballroom which opens onto an entertaining deck and a fish pond. The chandelier-lit ballroom, currently used as a formal dining room, has herringbone parquetry.
The home includes 11 suites, a commercial kitchen, a drawing room with open fireplace, a media room and a 20 seat dining room.
</li>
<li>
<a href="https://www.realestate.com.au/property-acreage+semi+rural-nsw-canyonleigh-117390091" target="_blank">250 Tugalong Roadm Canyonleigh, NSW</a>
 <img src="/images/2014/11/28/3.jpg" alt="">
Satori Springs is a 100 acre estate in Canyonleigh. This ballroom has polished timber floorboards and full height windows – unfortunately, we assume the baby grand piano and suit-clad pianist is not included. The chandeliers look a good deal more suitable in this ballroom than they would <a href="/expert-insights/investing/chandeliers-hanging-in-the-garage-he-said-she-said">a garage – or even a chicken coop</a>.
For those who prefer not to dance, there is another complex on the estate, with an indoor heated swimming pool, spa treatment rooms and its own tennis court.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-blackheath-117906883" target="_blank">166-168 Shipley Road, Blackheath, NSW</a>
 <img src="/images/2014/11/28/2.jpg" alt="">
Blackheath has another, slightly more modest, ballroom. The ballroom in the circa 1930s 166-168 Shipley Road property is now used as a gallery, complete with hanging rails. It features timber floorboards and ceiling roses.
The mixed-use property, with a two bedroom, two bathroom apartment, studio space and dining room, is currently on the market with a price guidance of $699,000 plus.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-endeavour+hills-116728459" target="_blank">63 - 65 Churchill Park Drive, Endeavour Hills, Vic</a>
 <img src="/images/2014/11/28/4.jpg" alt="">
No matter how much white furniture you pour in, it's hard to disguise a ballroom. This ballroom, currently used as a living and dining room, has a total 89 square metres of dancing space. It's only surpassed in size by the home's 93.48 square metre six car rear garage.
The two acre property, essentially a dual home, has six bedrooms, four bathrooms and two kitchens.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-bendigo-111263891" target="_blank">60 Barkly Street, Bendigo, Vic</a>
 <img src="/images/2014/11/28/5.jpg" alt="">
Lansellstowe, an Italian Renaissance style circa 1913 Bendigo mansion, was designed by architects Beebe and Garvin for Leonard Vere Lansell, the son of George Lansell, a mining entrepreneur.
The three level home features a ballroom with pressed metal ceilings, chandelier and timber parquetry. A landmark heritage property, the mansion includes over 20 rooms.
</li>
</ol>
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jrichardson-uRX5hFdKfN

Five home ballrooms worthy of Dancing With the Stars

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Not all Victorian real estate agents support the Real Estate Institute of Victoria's (REIV) anti-Liberal push ahead of the Victorian election.
The REIV started taking shots at the government after the Liberal party proposed changes to commercial real estate licensing requirements.
REIV president Enzo Raimondo <a href="/expert-insights/buying/victorias-proposed-commercial-licensing-changes-q-a-with-the-reivs-enzo-raimondo">told Property Observer </a>the changes would "open the industry up to unqualified and inexperienced operators - and potentially criminals - because there will be no probity checks, and the operators will not be required to maintain an audited trust account or comply with the requirements of the estate agents act".
Since then, the Victorian Coalition has announced it will step up laws against underquoting, a practice where agents deliberately misrepresent the price of a property before an auction to bait buyers. Raimondo labelled the proposal an "election stunt".
<a href="https://www.propertyobserver.com.au/https://twitter.com/IainCarmichael1/status/537715177836134400" target="_blank"><img src="/images/2014/11/27/tweet-nov-27-one.png" alt=""></a>
The REIV's anti-Napthine campaign, which includes print and radio advertisements, has resulted in a dispute with the Council of Small Business Australia, who claim the use of their <a href="/news/vic/reiv-locked-in-dispute-with-small-business-body-over-victorian-election-advertising">logo on the REIV's advertisements</a> is unauthorised.
Jellis Craig director Iain Carmichael is among those critical of the REIV's election lobbying tactics.
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Tweet of the day: REIV's anti-Liberal campaign "reckless"

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Four new members have joined the board for property valuation group Herron Todd White.
Sheena Wilson, Graham Waters, Jeff Forbes and Graham Gross have been appointed to the board.
Wilson has previous worked at the Bank of New York Mellon, including a three year period as country chief executive for BNY Mellon India.
Waters, the managing director of Herron Todd White Sydney, returns to the board. Having been with the company for 15 years, he is also a founding director of the South East New South Wales and Canberra arms of Herron Todd White.
Gross has worked at Herron Todd White for 20 years and also returns to the board. He is the managing director of the company's Central Queensland group.
Forbes is the former chief financial officer, executive director and company secretary of Cardno Limited and has held chief financial officer positions at ASX listed companies.
Chairman Gavin Hulcombe said he was delighted to welcome the new members to the Herron Todd White board.
"The experience and capabilities they will bring to the table will be a real benefit to our organisation," said Hulcombe.
"At Herron Todd White we strive to be the most respected and trusted property advisory organisation in the country. I look forward to the positive contributions they will make to our business as well as our customer and community standing," he said.
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New board members for Herron Todd White

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A Western Australian property manager, Van Dung Nguyen, formerly of Girrawheen, Perth, has been banned from holding a real estate and business agents’ licence, as well as a triennial certificate, for five years. He was also fined $3,000.
Nguyen failed to deposit rental income into a trust account, receiving $13,660 from a tenant for rent, water rates, strata levies and management fees between January 2012 and October 2012, which he then used to pay personal expenses and unrelated business expenses.
He operated Golden Investments Pty Ltd, which is now deregistered. The owner of the Girrawheen properties was left out of pocket.
Nguyen filed for bankruptcy in September 2013 and now lives in Queensland.
The fine was decided at the Western Australian State Administrative Tribunal on 20 November 2014.
Commissioner for Consumer Protection Anne Driscoll said that income from rental properties needed to be kept separate to the operational account.
“The law requires that rent and other payments from tenants must be placed in a separate trust account so that the transactions are transparent and the funds cannot be mixed with the day to day financial operations of the agency,” Driscoll said.
“This allows for easy auditing and gives both the tenant and property owner confidence to know that their funds are being used appropriately.”
She noted that real estate agents who take money from the trust accounts, even on a borrowing basis, to pay operation expenses are breaking the law.
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Perth property manager banned for five years after using rent for personal expenses

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A 350 square metre office in Hawthorn will be leased to information technology company WhiteGold Solutions.
The office space at <a href="https://www.realcommercial.com.au/property-offices-vic-hawthorn-501029535" target="_blank">443 Auburn Road</a> is owned by a private investor, with the lease negotiated by JLL director of Office Leasing Michael Simonds and Leasing Executive Shane Keogh.
The fully fitted out office has a five year lease term. JLL also negotiated the lease for vacating BluePrint Group, who moved to larger premises at 192 Burwood Road, Hawthorn.
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WhiteGold Solutions finds home in Hawthorn

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Peter Rhodes, the managing director of Reed Midem UK, is in Sydney this week to seek Australian interest in the 2015 MIPIM Japan exhibition.
Reed Midem, which has run the highly successful MIPIM Cannes exhibition for 25 years, says the Japanese government sought out the group to inaugurate the real estate forum for property leaders and finance professionals from all asset classes to explore opportunities in Japan and identify potential investment sources.
He says the timing of <a href="https://www.mipimjapan.jp" target="_blank">MIPIM Japan</a> coincided with nascent signs of renewed interest in ventures between Japanese and Australian partners after a dormant decade or so.
Recently EG Funds Management inked a $300 million partnership deal with Japan's largest home builder, Daiwa House, to redevelop the former Allied Mills site at Summer Hill.
He noted Japan investment abroad has jumped up from US$763 million in 2010 to US$3,118 million in 2013.
Ad despite the recession Tokyo stands as the first city targeted for property investment in Asia Pacific and ranks fourth in the world in 2014
"With over €4 billion inbound international property investment in 2013, Japan ranked 6th in the world," <a href="https://www.linkedin.com/profile/view?id=37310297&amp;authType=NAME_SEARCH&amp;authToken=YcTb&amp;locale=en_US&amp;srchid=1644771001416977125970&amp;srchindex=1&amp;srchtotal=158&amp;trk=vsrp_people_res_name&amp;trkInfo=VSRPsearchId%3A1644771001416977125970%2CVSRPtargetId%3A37310297%2CVSRPcmpt%3Aprimary" target="_blank">Peter Rhodes</a> said.
"For 2020 Olympics €4 billion investment in infrastructure and venues are expected, and the government aims for doubling the yearly number of foreign tourists to 20 million visitors," he said.
Exhibitors would gain visibility and recognition for real estate projects and identify potential Japanese partners and investment sources.
"This is the first real estate forum for Japanese and global leaders, joining together property and finance professionals from all asset classes – office, retail, infrastructure, leisure, residential - enabling Japanese real estate professionals to share their projects and know-how with the world and international stakeholders to source capital or new opportunities in Japan," the website for MIPIM Japan reads.
Some of the Japanese players who will be showcased include:
<ul>
<li>Mitsui Fudosan</li>
<li>Mitsubishi estate</li>
<li>Sumimoto Realty &amp; Development</li>
<li>Mori Building</li>
<li>Nomura real estate</li>
<li>Tokyo Tatemono</li>
<li>Tokyu Fudosan</li>
<li>Odakyu Electric Railway</li>
<li>Seibu Properties</li>
<li>NTT Urban Development</li>
<li>NTT Facilities</li>
<li>Sankei Building</li>
<li>Orix Real Estate</li>
<li>
Other local authorities and associations including the Ministry of Land, Infrastructure, Transport and Tourism. 
</li>
</ul>
The Olympics will be a major theme given the proximity to the 2020 event.
Ken Livingstone, the former Mayor of London (2000-2008), and key protagonist in the success of the nomination of London for the 2012 Olympics will be among the speakers at the May 20-21 event.
Hiromichi Iwasa, the chairman of Mitsui Fudosan and chairman of the Association for Real Estate Securization Chairman of the Real Estate Companies Association of Japan will also speak at the forum.
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