<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.

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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

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More first time buyers in the United States are turning to parents for financial assistance when buying a home, and the ways parents contribute are likely to shift to some degree, according to a <a href="https://www.prnewswire.com/news-releases/trend-of-parents-helping-millennial-children-buy-first-home-is-on-the-rise-300054767" target="_blank">survey commissioned by nonbank lender loanDepot LLC</a>.
17% of parents with adult children between the ages of 18 and 35 expect to help their children buy a home in the next five years, compared to 13% in the past five years — an increase of 31%.
First time home buyer activity is already close to an all-time low, but the share of home sales attributable to that group would be even smaller if not for the financial assistance parents have provided to many young adults, said Dave Norris, president and chief operations officer at loanDepot LLC.
75% of millennial-age respondents who said they have received financial support from their parents when buying a home said that assistance made it possible for them to buy a home, he said.
But the ways that parents provide this assistance may be shifting, the results suggested.
<div id="attachment_152315" class="wp-caption aligncenter">
<a href="https://inmannews.wpengine.netdna-cdn.com/wp-content/uploads/2015/03/how-parents-are-helping-loandepot.png" target="_blank"><img class="wp-image-152315 size-full" src="https://inmannews.wpengine.netdna-cdn.com/wp-content/uploads/2015/03/how-parents-are-helping-loandepot.png" alt="how parents are helping loandepot" width="881" height="322"></a>
Source: loanDepot
65% of parents who helped their kids buy a home in the last five years chipped in by putting money toward a down payment, with almost two in 10 of that group covering nearly 90% of a down payment, according to the survey.
But only half of parents who expect to help their children buy homes in the future anticipate subsidizing a down payment, with less than one in 10 indicating that they expect to contribute 90% or more of a down payment.
The survey suggests that parents who lend a helping hand to their children who buy homes in the years ahead will be more likely to provide assistance by paying off student loan debt or letting their kids live at home so they can save money than they were in the past, according to the survey.
<a href="https://inmannews.wpengine.netdna-cdn.com/wp-content/uploads/2015/03/obilgation-to-repay.png" target="_blank" style="line-height: 1.3em;"><img class="wp-image-152305 size-full" src="https://inmannews.wpengine.netdna-cdn.com/wp-content/uploads/2015/03/obilgation-to-repay.png" alt="obilgation to repay" width="729" height="238"></a>
Source: loanDepot 
</div>
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United States first time home buyers turning to parents: loanDepot

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GUEST OBSERVATION
The Reserve Bank of Australia’s (RBA) announcement to hold the cash rate for April at 2.25 percentage points could ease the increase in house and unit values over the next month. A market slowdown would allow greater purchasing power for first time home buyers in unaffordable housing markets.
The number of first time homebuyers taking out home loans has declined as a result of the recent housing boom, which saw more investors enter the market. This is supported by ABS data, which shows that home loans taken out by first time homebuyers have steadily decreased from 18.8% in 2012 to 14.9% in 2015.
Furthermore, according to ABS data, the size of the average home loan increased 1.07% between December 2014 and January 2015, to $346,600.
The decision to hold rates is partly attributable to Australia’s two-tiered housing market. According to <a href="https://Onthehouse.com.au" target="_blank">Onthehouse.com.au</a> data, at February 2015, Sydney experienced quarterly growth of 3.55% for houses, and 2.83% in units. These are down from the January quarter of 4.10% for houses and 3.04% in units, although they still reflect strong investor demand.
Despite Sydney’s strong performance, other markets, including Melbourne and Brisbane, saw contraction in property values at the end of the February quarter.
On the supply side of the housing market, February housing approvals were almost at a five-year high. In NSW, approvals for February 2014 totalled 4,692 dwellings, approximately 2,600 of which were units. Dwelling commencements in NSW, as last recorded in September 2014, were at a high of 14,063, which is a 43% increase in commencements from the previous quarter, and is 49% higher than the five-year average of commencements.
Dwelling commencements also increased in QLD and VIC, but at a lower rate. Nationwide, commencements hit a record high of 54,436, despite migration currently sitting below the five-year average. A further cut in the cash rate could have seen funds misallocated in a market where migrant and first homebuyer demand is in decline.
Overall, despite the benefits to first time homebuyers, the rate hold decision does come within a tricky economic climate for the RBA, where economic indicators have remained virtually unchanged for the previous period.
Some notable indicators include:
<ul>
<li>The unemployment rate decreased from 6.4% in January to 6.3% in February. However, this was coupled with a decrease in the participation rate from 64.7% to 64.6%, suggesting that the unemployment rate fell as people came out of the labour force, rather than finding work.</li>
<li>Annual wage price growth was at a five year low in the quarter ending December 2014, at just 2.5%. The December quarter also saw low inflation, which was last recorded at 1.7%.</li>
<li>Iron ore is currently at a 10 year low, at $US46.7 a tonne. Iron ore is expected to fall further as competitors amplify supply to win greater market share.</li>
<li>Oil prices seem to be stabilising following a significant decline since July 2014. Oil rose marginally in the latest trading session to $US53 per barrel. While the price is stabilising at approximately half the five-year average, Australians may no longer enjoy further discounts in the oil price. </li>
</ul>
Though the above factors call for a further cut in the cash rate, the hold is more about timing than tightening monetary policy. This month will reveal new quarterly inflation figures and employment data, which would allow more insight into the impact of February rate cuts. 
Eliza Owen is a market analyst at <a href="https://Onthehouse.com.au" target="_blank">Onthehouse.com.au</a>.
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po-LsXgBTHBmX

The RBA April rate hold will benefit first time home buyers: Eliza Owen

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GUEST OBSERVATION
Based on the latest RBA data on new building approvals, the building of high density housing is almost level with detached housing having grown 36% in the past year alone. This trend is set to continue and investors should think about taking advantage of the upturn.
It’s no surprise there’s been such a trend towards apartment living based on high house prices and a change in our lifestyles, overall.
The change kicked off in 2009, post-GFC when people wanted the stability of property ownership as an investment and being an accessible price point, the demand for units has escalated ever since.
<img src="/images/2015/04/10/pic%20april%2010%20one.gif" alt="">
Since 2009, a lot of buyers, particularly first homebuyers have been priced out of the market, needing an average of $530,000 for the typical Australian quarter acre block, up from $458,400 just 5 years ago.
In Sydney, that number is even steeper, going from $544,000 in 2009 to $781,600 now. Whereas the average apartment price in Sydney is now considerably less at $600,000.
Price aside, the appeal of apartment living has increased in recent years with many apartments located close to the CBD or other employment hubs with close proximity to parks as well as the overall quality of the buildings which has improved.
Councils must now comply to certain standards when it comes to new builds e.g. better privacy, more green space, certain hours of sunlight, etc. and buyers and residents appreciate that.
Take the development at Harold Park just 5kms from the Sydney CBD with 200,000 squares of green space, 70% of apartments in its Eden buildings were sold off the plan in 2013, demonstrating just how popular apartment living has become.
The trend shows no sign of slowing down and suggests that buying apartments as an investment is a lot less riskier than it was 10 years ago.
The demand is increasing and if you’ve invested in a growing area with lots of green space and good transport links, you’re likely to reap the rewards in years to come.
Tips for any new investor:
<ul>
<li>Go for buildings that are located near parklands and good transport links, preferably trains.</li>
<li>If a block is on a main road, go for an apartment with a different aspect which is likely to cut down noise as well.</li>
<li>Check the Strata Report for a full listing of the fees and rates you’ll be up for. Also, ask to see the minutes of the Strata committee meetings which will show up any major issues or structural damage.</li>
<li>If buying in an old building, be aware that your maintenance costs could be higher as things need replacing / upgrading.</li>
<li>A apartment in a smaller more boutique building will have more long term appeal than those in larger complexes</li>
<li>Get a feel for the building and surrounds, is there a lot of noise, what are the amenities like, is it well maintained, etc.</li>
</ul>
Steve Jovcevski is property expert at Mozo.com.au. 
FOR MORE INSIDER INFORMATION ON PROPERTY LOANS, RATES AND MORE: <a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/42368-get-loan-savvy-expert-tips-for-a-first-time-investment-or-refinancing-loan-in-a-free-ebook" target="_blank">A FREE MOZO EBOOK</a>.
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Six tips for first time investors looking to buy sky high: Steve Jovcevski

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GUEST OBSERVATION
Ask a parent how far they would go to support the financial aspirations of their children, and chances are they will say: “Yes, if I had the money I would be happy to act as a guarantor for my children to purchase a property.”
Australian capital city house prices <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-01-02/home-prices-rise-nearly-8pc-in-2014-boosted-by-strong-december/5996972">rose</a> by 7.9% in 2014, while the number of <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/5609.0Main+Features1Jan%202015?OpenDocument" target="_blank">first home buyer commitments</a> as a percentage of total owner occupied housing finance commitments is near record lows - 14.2% in January 2015, compared to 20.4% in December 2012.
Many family-assisted first-home purchases are not being counted in the first home buyer data collected by the Australian Bureau of Statistics, but it’s likely the growing cost of owning a home is encouraging an increasing number of parents to help out via a guarantee, interest-free loan, initial deposit or simply making a monetary gift to their children. This financial support can change an individual’s decision to buy or rent a house or unit. Parental support can also help first home buyers avoid mortgage insurance charges that can easily exceed A$15,000 for a family home in a desirable suburb.
The risk to parents
Consumer advocates <a href="https://www.smh.com.au/money/borrowing/a-guarantors-key-decisions-20100524-w6om#ixzz3OfBpjcaI" target="_blank">cite “lots of cases"</a> where guarantors have been faced with the prospect of losing their home.
Since 2004 Australian banks have offered specific “family pledge” or “family guarantee” loans, allowing parents to provide both equity support and income support. These products are driving growth in the sector, adding to the risk for parents.
In the current economic climate with rising unemployment and costs of living, parents need to understand the risks of acting as guarantor, and all the legal responsibilities that come with it. The guarantor has a legal responsibility to repay the loan (along with any fees, charges and interest) if the borrower defaults. If the guarantee is tied against assets such as the family home, guarantors may end up losing their home, particularly if the parents’ financial position or health conditions have changed over the years. Often the lenders can sue the guarantor if the loan obligations are not met by the debtor. If parents have concerns, it may be a good idea to contribute towards the deposit so that a guarantee is not required.
It is equally important for parents to be educated with regard to the purpose of the loan, amount of the guarantee, to know in detail if their children have stable incomes, and the kind of loan they are guaranteeing (such as lines of credit or overdraft which have no specific time to maturity).
The risk to the banking sector
Family-pledged loans can be categorised as non-conforming loans, an area where lenders seek to minimise the level of risk as much as possible. The Australian Prudential Regulatory Authority has outlined some <a href="https://www.apra.gov.au/adi/Documents/Draft-PPG-APG223.pdf" target="_blank">guidelines</a> for ADIs with regard to loans including a guarantor relationship (e.g. from a parent of the borrower) to cover shortfalls in minimum deposit requirements. APRA acknowledges these loans carry a high risk and ADIs should carefully assess the guarantor’s income, credit worthiness, enforceability of potential claims and the value of any collateral pledged by the guarantor. APRA also emphasises that as a risk management strategy a prudent ADI should establish portfolio limits within its risk appetite for such lending. Such limits can be stress tested.
Since the 1997 Wallis Inquiry, <a href="https://www.rba.gov.au/publications/submissions/fin-sys-inquiry-201403/pdf/fin-sys-inquiry-201403.pdf" target="_blank">household leverage has almost doubled</a>. This has been accompanied by a significant increase in house prices relative to income over the past decade. Australian home prices are <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2014-09-14/bis-figures-confirm-australian-housing-overvalued-emerging-mark/5740808">50% higher than usual</a> relative to rents, and around 40% higher than usual when compared to incomes. The Bank of International Settlements has already warned that a price correction may be coming.
The <a href="https://fsi.gov.au" target="_blank">Financial System Inquiry</a> is seeking measures to ease the effects of the housing market on the economy along with ways that these measures can be implemented.
Inadequate bank supervision and poorly underwritten home mortgages led to the financial crisis. Easing credit constraints, delivering innovative products (along with fee generating activities) without considering the associated risks, and a lack of internal and external monitoring and supervision, can increase non-performing loans and threaten the financial system and its stability.
Mamiza Haq is lecturer in finance at The University of Queensland.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
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The problems of relying on the bank of mum and dad: Mamiza Haq

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First home buyers are increasingly resorting to personal debt to fund their home deposits, according to the 10th edition of the Genworth's Streets Ahead Homebuyer Confidence Index.
Of those surveyed by Genworth, 46% of first home buyers who took out their loan in 2009 used sources other than savings for their deposit. In 2014, that figure had risen to 57%.
Genworth research shows that average deposit sizes for first home buyers has remained stable from 2009 to 2014, but the proportion of first home buyers who took more than three years to save their deposit decreased, from 36% in 2009 to 27% in 2014.
While a greater proportion of first home buyers are now relying on inheritances to fund their first home deposit than they did, more first home buyers are also relying on personal loans or credit card debt, as shown in the chart below.
Click to open in new window
<a href="/images/2015/03/27/fhb-mar-27-one.jpg" target="_blank"><img src="/images/2015/03/27/fhb-mar-27-one.jpg" alt=""></a>
In the five years to 2014, the proportion of first home buyers who used personal loans for their deposit increased from 4% to 15%, while the use of credit cards for deposits rose from 1% to 10%.
"This combination of reduced time spent acquiring deposits and an increased proportion of non-savings sources suggests that house price appreciation over the past few years may have driven an increasing number of FHBs to abandon their goal of saving a deposit and look to alternative sources of funding," the report reads.
Genworth also noted that first home buyers are generally more willing to pay lenders mortgage insurance (LMI) and take on greater loan to value ratios for their first purchase.
Only quarter of today's first home buyers surveyed by Genworth have deposits of more than 20%, while 33% of current mortgagors had a 20% or higher deposit when they bought their first home.
"This is indicative of a trend towards accumulating lower deposit sizes as property prices rise," reads the report. As such, Lenders Mortgage Insurance (LMI) plays an important role for FHBs struggling to save a 20% deposit. Of respondents surveyed in March 2015, 61% of FHBs used LMI compared to 40% of Mortgagors."
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First home buyers turning to personal debt to fund deposits: Genworth

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Point Cook continues to be a magnet for first home buyers with house prices recording an increase of just 39.5% over the past 10 years, new data reveals.
The latest PRDNationwide figures show that the median price for a house in the popular western suburb of Melbourne rose from $336,750 in 2004 to $470,000 last year.
However, unit prices dipped from  $310,000 to $298,000 in the same period.
PRD Nationwide research analyst Harrison Hall said Point Cook remained one of the most affordable suburbs in Melbourne.
“The Point Cook market has been growing steadily at an average of 4% per annum for the past 10 years,” Hall said.
“This means owners are getting good returns but it has still maintained its affordability for people looking to enter the local market. 
“Whereas the Greater Melbourne market has become more unaffordable with median prices rising 7.3%, which means it’s becoming harder for people to buy in.” 
However, he said buyers needed to be wary of the constant new supply in the area, forcing vendors to sell their older properties below the cost of new ones.
“Sellers would have a very hard time selling their property for more than a comparable new property,” Hall said.
“There will be consistent development for years to come which means this will always be an issue.”
Point Cook had over $460 million worth of new projects to be completed in 2015, including more than 360 new dwellings and large-scale subdivisions. 
He said the suburb was also slated for infrastructure and commercial projects including a $48 million extension to the Point Cook Town Centre with a major super market, 14 speciality shops, car parks and commercial facilities to be completed by 2016.
CoreLogic RP Data spokesperson Robert Larocca said Point Cook remained sought after being just 21km from the Melbourne CBD.
“It has proved popular, because for the same price you have got to live 30km or 40km away from the CBD in the east,” Larocca said.
He said the suburb’s performance varied depending upon the location.
“There are some very exclusive parts of Point Cook and there are much more affordable properties,” he said.
“For instance, it is a suburb where (last year) you saw 155 homes sold under $400,000 and 14 sold for over $1 million in the same period. 
But he said most of the properties sold from $400,000 to $600,000.
Hockingstuart Real Estate Altona sales executive Tony Anile said Point Cook’s affordability made it strong property market.
“There is a lot of new homes being built, a lot of vacant land being developed,” Anile said.
“There are a lot of young families moving into the area.
“It is a place where you can get into for a good family-sized home.”
Oliver Hume Real Estate project manager Nick Lacarruba said demand for land and housing packages had picked up again after a slump in 2011. 
“Consumer confidence is back and there are a number of different projects that are coming to the market,” Lacarruba said.
“The size of the market has increased.”
Lacarruba said land sizes generally varied from 300 square metres to 600 square metres on average.  He said there was a prevalence of double-story homes ranging from 20 square metres to 50 square metres.
Photo of Point Cook courtesy of <a href="https://www.flickr.com/photos/boobook48/" target="_blank">Lorraine Phelan</a>/flickr.
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Point Cook a magnet for first home buyers

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GUEST OBSERVATION
Strengthening first home owner incentives should be towards the top of the political agenda for the Palaszczuk government in 2015 ahead of the year’s first state parliamentary sitting.
This is an important issue out there in the community, with so many Queenslanders wanting to see first home owner grants made available to all buyers.
We believe it was a short-sighted move to restrict first home owner grants to new home purchases, but there’s a real opportunity now to put that right.
We’ve already held some very positive discussions with Treasurer Curtis Pitt on this issue and we’ll continue to make the case for this important economic reform.
Reinstating the full spectrum of first home owner incentives would unlock of millions of dollars in investment, delivering an important boost to the Queensland economy.
It would also greatly assist Queensland’s residential housing recovery and help thousands of extra Queenslanders to realise their dream of home ownership.
There was no sound basis for the preferential treatment which currently exists for purchasers of newly built properties.
There needs to be a level playing field for all first home buyers in Queensland.
When grants for existing housing were abolished in 2012 first home owner rates experienced a marked decline, but this could be reversed with the reinstatement of a more even-handed scheme.
The current two-tiered system favouring one class of home buyer over another has simply resulted in thousands of Queenslanders being locked out of the residential real estate market.
We acknowledge there is a need to create more housing supply, but first home owners shouldn’t be limited in their choice as they are under the current system.
Antonia Mercorella is CEO of the <a href="https://www.reiq.com/" target="_blank">REIQ</a>.
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We need to level the playing field for first home buyers: REIQ's Antonia Mercorella

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New home buyers are paying more for less with lot sizes falling and median prices rising around the country, a report from the Urban Development Institute of Australia (UDIA) has revealed.
The median size for a new lot nationally fell by 3.6% over 2014 while the average price for a new lot in Australia’s five largest capitals rose by 4.2%, according to the latest UDIA State of the Land Report.
The seventh annual edition of the report noted an ongoing trend of falling lot sizes over recent years. It put the declines down to limited land supply, the high cost of land and affordability constraints felt by new home buyers.
At 474 square metres, the median size of a new lot is now 11.4% smaller than in 2009.
Prices for land in the five biggest cities are up by 22.5% since 2009 with the median price for a new lot now at $246,300.
Nationally, new home buyers paid an average of $527 per square metre in 2014, up 9.5% from the previous year, and up 40% since 2009.
The research, conducted in partnership with Charter Keck Cramer and Research4 using data from the National Land Survey Program, also showed a marked increase in the number of new lots released in 2014 compared with the previous year.
Melbourne saw a 60% increase in lot releases, the largest rise of the capital cities, with 4791 more new lots offered in 2014 than in 2013.
The number of new lots released in South East Queensland rose by 55% compared with 2013.
The strong lift in supply in both Melbourne and South East Queensland constrained price rises in the areas, despite strong buyer demand, the report showed.
In Sydney, prices continued to rise despite a 29% increase in the number of new lots released. The UDIA noted that new supply had consistently been unable to keep up with in demand in the city.
As demand outstripped supply, lot prices in Sydney rose by 5% in 2014. Prices have risen by 15% since 2012.
Lot sizes in Sydney have also shrunk the most. The average lot in Sydney was 450 square metres in 2014, down by 11.6% compared with the year before when the average lot was 509 square metres.
In line with rising prices and falling lot sizes, land prices per square metre in Sydney increased by the largest margin of the capital cities. Price per square metre rose by 18.7% from $636 to $755.
New lot prices in Perth rose by 9.4% spurred by demand. The report noted population growth in Perth continued to be the strongest of the states despite having slowed as mining investment recedes.
Prices were flat in Adelaide where the market remains depressed. 
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New home buyers paying more for less: UDIA

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There were 35 sales at $600,000 or under at weekend auction across Sydney.
APM had the house median at $1.2 million and the unit median at $800,000.
There were just the four Sydney sales in the $400,000s among the 600 results.
A $385,000 Marrickville flat was the cheapest, excluding one cheapie at Gorokan in the Central Coast. But the Marrickville sale reflected a 4% yield based on its September 2014 rental asking price.
The sale was achieved pre-auction when an investor secured the 39 square metre flat at 4/3 Ann Street, Marrickville (pictured above).
The freshly painted, first floor one bedroom apartment was marketed as ideally suited to the first home buyer or investors. 
The First National Iskandar Real Estate agents Taylor Spratt and Tony Iskandar advised its rental was around $300 per week
The strata levy was $554 per quarter, the water at $176 per quarter and council at $276 per quarter.
The super strong Sydney weekend auction market recorded its highest ever clearance rate for a regular weekend on Saturday with APM's result of 86.1%. The previous highest was an on federal election in September 2013 when 86.5% was achieved on slim 200 volumes.
Four suburban regions reported clearance rates in excess of 90%.  The best was the north west with 94.7% followed by Canterbury Bankstown 92.9%, the city and east 92.2% and the northern beaches with a clearance rate on Saturday of 91.1%.
The inner west had a still strong 88.2% clearance rate, the same recorded by the south. Next best was the lower north with 85.5% followed by the upper north shore 83.2%, the south-west 77.4%, the west 75% and the central coast 64.7%.
The most expensive property reported sold at auction was <a href="/expert-insights/buying/sandringhams-7-8-million-versace-inspired-trophy-home-tops-sydneys-weekend-auctions">22 Primrose Avenue, Sandringham</a> for $7.8 million by McGrath.
"Sydney’s extraordinary home auction market is starting to defy superlatives but will face its biggest ever test next weekend," Andrew Wilson, the Domain Group senior economist said.
The pre-Easter super Saturday of auctions is set to break the all-time record of 1111 auctions as sellers rush to take advantage before the Easter break of the strongest market in Sydney’s history, he advised.
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Investor secures cheapest sale in Marrickville on record clearance rate weekend

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It's not just investor activity, but changing benefits and an increased willingness to sit out of the property game that may be keeping first home buyers out of the market, according to one economist.
At BIS Shrapnel's Melbourne business forecasting conference earlier this week, managing director Robert Mellor commented that while investor activity did put upward pressure on prices, particularly in Sydney, there were other factors which are contributing to declining first home buyer numbers.
<img src="/images/2015/03/19/bis-mar-19-one.jpg" alt="">
He cited the change in some first home buyer benefits as a catalyst for a recent shift in purchasing activity among the demographic. In New South Wales, first home buyers formerly received full stamp duty concessions on established homes, which Mellor explained equated to about a $17,000 benefit on a $550,000 purchase. The scheme <a href="/expert-insights/investing/nsw-to-scrap-full-first-home-stamp-duty-concessions-for-existing-homes-from-2012">ended in January 2012</a>.
"So those sort of changes mean for many first home buyers, certainly in NSW, you suddenly had to find another $20,000," said Mellor.
"So I'd argue the point that one of the problems for potential first home buyers was the change in the rules where grants and stamp duty benefits were only provided for new dwellings, rather than established dwellings.
"They effectively had to find another $20,000 fairly quickly."
The change, Mellor said, may have encouraged potential first home buyers to "sit out of the market for another year" to save more – only to find home price growth eclipsing their increased savings.
"And you've suddenly found that instead of trying to buy a $550,000 property, you were paying $630,000," he explained.
"And that...increase in price obviously totally swamped the lost value of the grants."
First home buyers who were unable to anticipate recent price growth, particularly in Sydney, may have found themselves priced out of the market. After a period of suppressed house prices, Mellor explained, many inexperienced buyers would not have expected prices to escalate in Sydney as they have in recent years. He also acknowledged the Australian Bureau of Statistics' admission that its first home buyer figures may be inaccurate.
<img src="/images/2015/03/19/bis-mar-19-two.jpg" alt="">
"Everybody thought three years ago Sydney house prices were already very high. Well they weren't – they were undervalued in a long term context," said Mellor. However, he said that although Melbourne had not experienced the same price strength as Sydney, a similar situation had occurred when the Victorian government abolished its first home owner grant for established properties. Nevertheless, the declines in first home buyers numbers recorded in New South Wales and Queensland have been "much more severe".
The BIS Shrapnel head also attributed some of the lowered participation of first home buyers to a generational shift in attitudes towards home ownership, with uncertainty about future employment and lifestyles leading some to put off purchasing a home.
Mellor likened the relationship between investors and first home buyers to a "chicken and the egg kind of situation".
"Is it the investors forcing first home buyers out of the market? I would say they were out of the market simply because of the change in the conditions for them, and then once they sat on the sidelines, they couldn't purchase," said Mellor.
{mijopolls 100}
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