<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

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.

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

First Home Buyers

<html><body>
GUEST OBSERVER
<div class="WordSection1">
NSW First Home Buyer (FHB) assistance measures have not kept pace with the market.
First home buyers represent only 8 percent of owner- occupier home loans in NSW, compared to 15 percent in Victoria and 16 percent in Queensland.
The overall package for first home buyers in NSW has had a consistent and critical flaw for some time. That is that the stamp duty exemptions for FHB’s (via the First Home - New Home package) have not worked in tandem with the First Home Owners Grant.
A full stamp duty exemption should be offered for new properties up to the same monetary cap as the First Home Owners Grant of $750,000 and on vacant land up to $450,000. Currently, a full stamp duty exemption is only available on new properties up to $550,000 and vacant land up to $ 350,000.
I doubt any first home buyers are able to meet the criteria for a stamp duty concession virtually anywhere in Sydney. The stamp duty price caps were put in place in 2012 and prices in Sydney have increased by more than 50 percent in that time.
This is way out of touch with the reality of today’s market.
The overall support to first home buyers would be far more successful if these simple changes were made as soon as possible.
First Home Buyers in NSW are struggling to get a foothold in the market and reinstating the $15,000 grant for new dwellings up to $750,000 and providing a stamp duty exemption to the same amount could provide a saving of up to $34,000 up front.
Whilst longer term structural change is needed to deal with inefficient taxes like stamp duty, such change is unlikely to come anytime soon. That’s why we need to support those struggling to enter the market in the near to medium term.
David Bare is HIA executive director, NSW, and can be contacted <a href="https://hia.com.au/about/Contact.aspx?contactustab=Media" target="_blank">here</a>.
</div>
</body></html>

jchancellor-FAypfDUnLy

NSW government needs to make first home buyers assistance effective: David Bare

<html><body>
The Victorian government has abolished stamp duty for first home buyers for purchases below $600,000.
Those buying a home valued between $600,000 and $750,000 will be eligible for a concession from the Andrews Labor Government from July 2017.
The exemption and concession will apply to both new and established homes, in a move that is expected to help 25,000 Victorians find their first home.
The Government will also remove off-the-plan stamp duty concessions on investment properties, described as "a further move to help tilt the scales back towards home owners."
The off-the-plan stamp duty concession will now be available solely for those who intend to live in the property or who are eligible for the first home buyer stamp duty concession.
The stamp duty for off-the-plan investors will raise almost as much as axing stamp duty for low-price first home buyers will cost, it has been advised.
At the same time, a Vacant Residential Property Tax will be introduced to address the number of properties being left empty across inner and middle suburbs of Melbourne.
Under the changes, owners who unreasonably leave these properties vacant will instead "be encouraged to make them available for either purchase or rent."
The Vacant Residential Property Tax will be levied at 1 per cent, multiplied by the capital improved value of the taxable property.
For example, if the property has a capital improved value of $500,000, the amount paid will be $5,000.
There will be a number of exemptions, recognising there are some legitimate reasons for a property being left vacant, including holiday homes, deceased estates and homes owned by Victorians who are temporarily overseas.
Premier Daniel Andrews said in the past, "if you worked hard and saved enough, you could afford to buy your own home. Now, that’s getting harder and harder.
“These changes will help thousands of Victorians make the Great Australian Dream a reality.”
“With negative gearing and capital gains tax concessions, the odds are already stacked against first home buyers.
"This will help level the playing field.”
</body></html>

Victorian investors lose OTP stamp duty concessions

<html><body>
House and land packages at Sovereign Pocket, Deebing Heights, 10 minutes from Ipswich CBD, are on the market from between $150,900-$472,900.
The Stockland development has a range of land sizes available over 700sqm.
Surrounded by homes built by Queensland’s best builders residents will be able to enjoy the central park, its play equipment and BBQ facilities.
Great shopping and public transport are just around the corner.
Six homes, such as the one above, have already been built and are available on the on-site display village.
One home, <a href="https://www.realestate.com.au/property-house-qld-deebing+heights-124362482" target="_blank">50 Currawong St Deebing Heights</a> (above), is built by Bold and is on 498 sqm. It is on the market for $449,000.
Lot 557, Gem 138, is a <a href="https://www.realestate.com.au/property-house-qld-deebing+heights-124886890" target="_blank">three bedroom home</a> (below) on 280sqm and is on the market for $328,917.
<img src="https://www.urban.com.au/images/2017/03/3/Screen%20Shot%202017-03-03%20at%208.15.17%20AM.png" alt="">
CorelLogic estimate the median price of a home in Deebing Heights in 2016 was $385,000.
For more information, <a href="https://www.stockland.com.au/residential/qld/sovereign-pocket/life-at-sovereign-pocket" target="_blank">click here</a>.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Affordable house and land in Deebing Heights now available

<html><body>
 
Adult children inheriting or gifted wealth from their parents are more likely to start businesses, hold bachelor’s degrees and have more money in the bank, says a new study. 
 
The report A new look at the channels from housing to employment decisions, by RMIT University and Curtin University researchers working on behalf of the Australian Housing and Urban Research Institute (AHURI),
 
The report was authored by Melek Cigdem-Bayram and Gavin Wood of RMIT University and Rachel Ong of Curtin University.  
 
 explored how inter-generational wealth transfers, which are typically financed through housing wealth, influence the education and work careers of beneficiaries. 
 
The report shows that although the proportion of beneficiaries in the labour force is roughly the same as non-beneficiaries, a significantly higher proportion of beneficiaries are self-employed, said Professor Wood.
 
“Young Australians that receive inherited wealth and parental cash transfers financed from housing wealth are being helped by booming house prices,” Professor Wood said. 
 
“They have more financial assets that can act as a buffer to meet income shocks, and collateral to relax borrowing constraints. Therefore, they may be more likely to take risks, like financing their own business ventures.” 
 
Nearly 1.8 million Australians inherited money at least once between 2002 and 2012, with the average amount of each inheritance being $79,000. 
<a href="https://www.propertyobserver.com.au/images/2017/03/02/MumDadTable8.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/02/MumDadTable8.png" alt="">
 
<a href="https://www.propertyobserver.com.au/images/2017/03/02/MumDadTable9.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/03/02/MumDadTable9.png" alt="">
 Beneficiaries of parental cash transfers also have average bank deposit account balances that are more than double those of non-beneficiaries, and their average net investment income is roughly one-third higher, the report stated. 
Children who received cash transfers or bequests from their parents are also more likely to hold a bachelor’s degree.
While this may seem like good news for young Australians lucky enough to be recipients of housing wealth, this could entrench and even exacerbate inequality in lifetime economic opportunities, says Professor Wood. 
“Intergenerational transfers are an important feature of contemporary family life and housing wealth is an important direct or indirect funding source for these transfers,” Professor Wood said. 
“The evidence presented in this report confirms expectations that intergenerational transfers help beneficiaries to ‘get ahead’. 
“But if intergenerational transfers become increasingly important as a pillar supporting educational, housing and business start-up opportunities, policy-makers will need to heed the consequences for those children of less well-off parents who are bypassed by the intergenerational circulation of housing wealth.” 
 
</body></html>

prateek24-ezbwHMbNAk

‘Bank of Mum and Dad’ helps kids also get ahead in education and business start-ups

<html><body>
After several months of uncertainty and low confidence levels in the Alice Springs residential space, it is likely the market should see further stabilisation throughout 2017, according to HTW’s February 2017 update.
The valuation firm says the unit market has seen the most volatility and experienced two years of price reductions.
For this segment, that has reduced the 10-year compound annual growth rate for median prices for this segment to 4.06% in the December quarter 2016 from 7.57% in the same period in December 2014.
The house segment for the December quarter indicated a 10-year compound annual growth rate of 5.29% down from 6.15%.
“Of greatest interest will be the older style, circa 1980s two bedroom unit segment which has been hardest hit with significant price drops of up to 30% over 2014 and 2015 from the highs of 2010 and 2011,” says HTW.
“We have seen a few more sales in this segment (unit sales were at 158 in the year to December 2016, up from 134 in the previous period) providing some indication that some level of confidence is returning.
“We note that while this segment should still be treated with caution for investors with rent levels still showing reductions, for first home buyers, price levels in some cases are at 2009 levels, showing a great opportunity to enter the market.”
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nt-alice+springs-124486430" target="_blank">24 The Fairway</a>, Alice Springs (above) has been listed for over $1,000,000.
Similarly a two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nt-alice+springs-107622519" target="_blank">15 Tietkins Avenue</a>, Alice Springs (below) was sold for $427,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/22/15%20Tietkins%20Avenue.jpg" alt="">
</body></html>

jonathanchancellor-7SQnKwU6yx

Alice Springs' house prices creating chances for first home buyers: HTW

<html><body>
The strength of Gold Coast house prices is forcing first home buyers to look further west to obtain an affordable home, according to HTW’s February 2017 update.
The valuation firm says the north-west Gold Coast and southern Logan area is one of the largest growth areas within south-east Queensland with a number of satellite cities now gaining momentum and newer residential estates moving in to a more mature phase with established infrastructure, schools and local amenities.
“The growth area of Upper Coomera continues to be underpinned by the investment and interstate market with these buyers accounting for the majority of vacant lot purchases and house and land sales,” the report says.
“This market saw vacant land prices increase during the second half of 2016, with larger lots coming on to the market, which hadn’t been offered in this area for some time.”
“Over the coming year, this market should be treated with caution as these prices may be reaching their peak.”
The government increased the First Home Buyer’s Grant to $20,000 during the latter part of 2016 which encouraged more construction activity.
“However with price levels increasing in this area, it is becoming extremely difficult for first home owners to purchase or build new product and are we are seeing these buyers moving further west to the satellite cities of Yarrabilba and Flagstone at Jimboomba.”
Property Observer found a four bedroom house in Upper Coomera on 1001sqm that recently sold for $730,000 (above).
The property, <a href="https://www.realestate.com.au/sold/property-house-qld-upper+coomera-123855210" target="_blank">74a River Meadows Drive</a>, fronts the river.
A four bedroom home, <a href="https://www.domain.com.au/9-summerview-avenue-yarrabilba-qld-4207-2013311045?topspot=1" target="_blank">9 Summerview Avenue, Yarrabilba</a> (below) is currently on the market expecting offers over $575,000.
The home features an in-ground saltwater swimming pool and is on 640sqm.
<img src="https://www.urban.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%201.35.12%20PM.png" alt="">
</body></html>

Gold Coast prices forcing first home buyers west: HTW

<html><body>
The Perth property market remains generally subdued in 2016 with median house prices softening by 4.4 percent compared to the corresponding quarter in 2015, according to the latest report from PRDnationwide.
According to its report, Perth Property Hotspots Second Half of 2016, this situation has, however, provided first home buyers with attractive opportunities to enter the market, which has resulted in Western Australia recording the highest proportion of first home buyers in Australia.
Although the Perth’s rental market is at its lowest in 12 months, it provides tenants with affordable housing options.
A flow-on effect from the recent strengthening of coal prices to other areas of the resources sector would help create some renewed impetus to the Perth property market.
“The Perth property market has seen some positive signs in a few select suburbs despite a general weakening during 2016,” said Tony Brasier, PRDnationwide managing director.
“For the positive momentum to be maintained and to expand into the wider Perth marketplace renewed confidence and growth in the mining and resources sector and broader economy is needed.”
Click to open in new window:
<a href="https://www.propertyobserver.com.au/images/2017/02/02/per-1.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/02/per-1.jpg" alt=""></a>
<a href="https://www.propertyobserver.com.au/images/2017/02/02/per-2.jpg"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/02/per-2.jpg" alt=""></a>
 
<a href="https://www.propertyobserver.com.au/images/2017/02/02/per-3.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/02/per-3.jpg" alt=""></a>
A four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-south+guildford-121951342" target="_blank">36 Brooking Street</a>, South Guildford (above) has been sold for $560,000.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-south+guildford-122476070" target="_blank">7 Seaton Court</a>, South Guildford (below) has been sold for $575,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/02/7%20Seaton%20Court.jpg" alt="">
</body></html>

Perth property price falls a major boon for first time buyers: PRDnationwide

<html><body>
Australia’s first time home buyers are being locked out of the property market as wage growth fails to keep pace with rising house prices.
A national report from Bankwest reveals there are half as many first time home buyers (FTBs) in the market as a proportion of total buyers in 2016 than in 2009.
Fewer FTBs entered the market in the last 12 months, impacted by the removal of the First Homebuyers Grant for established homes by state governments, coupled with rising property prices. The number of FTBs declined to 90,939 in the year to June 2016, down from 94,517 the previous 12 months.
The proportion of FTBs in Australia has declined steadily over the last five years to 13.4 per cent in 2016, with the remainder repeat purchasers or investors, compared to 28.8 per cent in 2009.
The 2016 Bankwest Financial Indicator Series’ First Time Buyers Deposit Report shows Australian couples will have to save for an average of 4.4 years to accumulate the $103,600 needed for a 20 per cent house deposit on a median priced home.
This is two months longer than in 2015 (4.2 years) and a $3,900 increase on the $99,700 deposit required last year.
Bankwest Executive General Manager, Retail, Andrew Whitechurch said it was taking Australian FTB couples longer to save a deposit on a median priced house in every mainland state and territory except for WA.
“Western Australia bucks the national trend, being the only state where it takes less time for an average first time buyer couple to save for a house than it did last year.
The average time was down marginally to 3.5 years this year from 3.6 years in 2015 and well below the national average,” he said.
“Low interest rates, sluggish wage growth, and rising house prices are making it increasingly difficult for first time buyers to get a foot on the property ladder in most capital cities in Australia.
Australia’s median house value grew 3.9 per cent to $518,000 in the 12 months to June 2016, while variable-lending rates on owner occupier housing loans are notably lower than the 10-year average rate of 6.93 per cent.
We’ve seen extremely strong growth in property values in Sydney and Melbourne, while wages have grown by just 2.2 per cent nationally.
While lower interest rates are beneficial for those who already own their homes in the form of lower loan repayments and interest, they can also bring more buyers into the market and this drive up house prices, making home ownership less affordable for first time buyers.”
Mr Whitechurch said the eighth annual First Time Buyers Report had been produced as part of Bankwest’s ongoing commitment to offer insights on economic data, trends and issues of value to its customers, businesses, communities and policy makers.
“Bankwest is committed to helping customers and local businesses achieve what matters, contributing to the development of our communities and being a positive voice in the debate on the future of the economy.
We hope this annual report, which provides a snapshot of the country’s housing market in 2016, demonstrates this.”
The report shows FTB couples wanting to buy a property in the capital cities faced up to five years’ wait, with Sydneysiders facing the longest saving times.
“The average time for a first time buyer couple to save for a capital city property increased by almost six months to 4.9 years this year from 4.5 years in 2015,” Mr Whitechurch said.
“On average Sydney first home buyers will have to save for more than eight years to accumulate the $214,600 needed for a 20 per cent deposit on their first house (8.4 years), up from 7.9 years in 2015.”
Peppermint Grove in Perth is the local government area (LGA) with the longest savings time in the nation, where it takes 19.7 years for a couple to save the $686,300 needed for a 20 per cent deposit on a median priced house.
<a href="https://www.propertyobserver.com.au/images/2016/12/22/Bankwest.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/12/22/Bankwest.jpg" alt="">
However, saving time in this exclusive Perth suburb is down from 20.2 years last year.
Peppermint Grove is followed by Strathfield in Sydney (17.9 years, $410,800) and Mosman in Sydney (17.4 years, $613,000).
Paroo Shire in Queensland’s South West lays claim to the title of the LGA with the shortest savings time nationally of six months to save the $8,500 deposit required.
</body></html>

Saving for eight years plus, as first home buyers face lengthy lock out: Bankwest property report

<html><body>
Potential first home buyers can crack the market if they use the mindset of an investor according to Brenton Tidow, founder of Abakus Apps.
He said while it may take some time to restore the market balance, first home buyers, including young Australian’s in their 20s and 30s who are earning an average full-time income – can crack the property market if they are serious and approach the process with an investor mindset.
"It is concerning that an increasing number of first home buyers are now in their 40s," he said.
"For many buyers, the dream of purchasing a property may seem out of reach, and this is understandable as prices rise and competition intensifies.
"While the prospects of being a lifelong renter are very real, this does not need to be the case."
Brenton offers five tips for new buyers to use as a guide as they prepare to enter the market:
Start small
“I encourage new buyers to consider properties that are not their first, second or even third choice, and to look for properties that fit your initial budget – this could be $200k or $700k it doesn’t matter, as long as you buy with a strategy for growth," he said.
"While I advise buyers to purchase properties that they can see themselves comfortably living in, your first purchase is rarely your last. If you wish to enter the market and climb it, you may need to forgo some of your ideals about what a property should or shouldn’t have.”
Get serious about saving
“Regular saving can make a huge difference," he said.
"For instance, if you plan to purchase a property valued at $375,000, you may need to save around $500 each week for 24 months in order to have enough savings to pay a 10 per cent deposit plus cover any fees – such as lender mortgage insurance, stamp duty, and legal costs (which can cost $20,000 or more).”
Look beyond your horizons:
"To successfully find properties in your price range and in high growth areas, you may need to get comfortable searching for properties in areas that you would not usually live in, including properties in other cities and states on the cusp of growth," he said.
“I bought my first property in Wattle Grove in Perth in 2012 – a three-bedroom house and land package – for $380,000 and earned around $100,000 in equity in 12 months. I’ve also researched and bought into upcoming areas in Newcastle NSW, and the Sunshine Coast in Queensland. Sometimes you need to venture far from ‘home’ to find the right deal.
“Whether you plan to be an investor or owner-occupier, new developments in outer suburban areas can be very attractive for new buyers, and can also be a great stepping stone to your next property. If you’re looking to buy in and around Sydney, areas to consider are Mt Druitt or Newcastle."
Get your loan structure right:
"Getting your loan structure wrong can seriously hamper your ability to buy your first property – and any future ones," he said.
“This is why it is essential to speak to a specialised mortgage broker who understands property investment and who can advise you on the best way to structure a loan that fits your needs and your budget.
“Remember, banks generally lend between 80-90 percent of a property’s purchase price to a first time owner or investor, based upon the lender’s valuation of a property before granting a loan. With this in mind, I suggest buyers give themselves a financial buffer – which may require an additional $10,000 in savings or more. Ideally you want to have this buffer sitting there for as long as you have property. You never know when something unexpected may happen. You can place this money in a 100 percent offset account and reduce your interest paid each month."
Check your eligibility for first home buyer incentives:
"First home owner grants vary between states. For instance, in New South Wales and Victoria, you may be eligible for a $10,000 grant if you are buying or building a new home valued at up to $750,000," he said.
"In Queensland, depending on the date of your contract, you may be able to apply for a $15,000 to $20,000 grant to use towards buying or building a new house or townhouse.
“If buying property is a life goal, then make this a priority. Start saving and seek out a financial advisor and property mentor to get you started – it’s ideal to do this while you start saving, even if you don’t plan on entering the market right away.
“If you’re in your late 20’s or 30’s, don’t be embarrassed to share a house or find cheap rental options – maybe even living with family for a short time could be the answer to saving that deposit quicker. At the end of the day, paying large rent for someone else’s mortgage is only going to set you back from potentially paying for your own."
</body></html>

A myth first home buyers can’t buy property in today’s market: Brenton Tidow

<html><body>
Government grants and current low interest rates are helping first home buyers get into the Brisbane property market.
Alex Veal, Mint Residential Principal said more than 60 percent of the recent buyers at Vantage Lutwyche, have been new to the market.
"The increased First Home Owner Grant to $20,000 and stamp duty concession under $500,000 means they can purchase a new property with minimal savings and lock in an interest rate at circa four percent to give them certainty in payments at the front end of their mortgage," he said.
"When you add all those factors together, there really has not been a better time for purchasers to enter the market for some time - and they are increasingly recognising this."
Vantage Lutwyche fetures 55 one and two bedroom apartments across six residential levels, a 160sqm roof terrace and pavilion.
Buyers also get  a year's supply of coffee at local cafe Coddle and Co., an annual gym membership and quality blinds.
One bedroom apartments at Vantage Lutwyche start from $324,000 and two bedroom apartments from $439,000.
Loretta Reinke, and Hasitha Samaratunga, each purchased an apartment off-the-plan in Vantage Lutwyche
Ms Reinke said she was looking at apartments that were up to 10 years old, and they were no cheaper and offered a similar level of space.
"So I figured why not buy new, where I did not have to worry about how other people had treated the apartment," she said.
"The extra $20,000 I would receive for buying new was certainly very handy."
An on-site display is now open at the corner of Isedale Street and Lutwyche Road, Lutwyche between 4.30pm and 5.30pm on Wednesday, 10.30am to 12.30pm on Saturday or by appointment.  For further information call 1300 789 959 or visit <a href="https://www.vantagelutwyche.com.au" target="_blank">vantagelutwyche.com.au</a>
</body></html>

First Home Buyers

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

First Home Buyers

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News