<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

Hotspots

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Despite being Australia’s most popular travel destination, houses in the Sydney CBD have an median yield of just 3.33%, according to <a href="https://www.finder.com.au/" target="_blank">finder.com.au</a>.
Meanwhile, units Darwin, which is at the bottom of <a href="https://www.tripadvisor.com.au/TravelersChoice-Destinations" target="_blank">Tripadvisor’s Traveller’s Choice 2014 Top 10 Destinations</a>, have a median yield of 6.82%.
The comparison website analysed the country’s top 10 tourist destinations to see how their investment potential stacked up against their popularity with visitors. With a median CBD house price of $1.75 million and median rent per week of $1,120, the city’s estimated yield of 3.33% is the second-lowest of any city on the list.
Michelle Hutchison, finder.com.au Money Expert, says that popular holiday destinations present widely varied returns for property.
“It’s always nice to imagine what it would be like to own an investment property at your favourite holiday spot, but our findings revealed there can be a big difference between the value of return you can receive for the most popular holiday destinations,” said Hutchison.
“For instance, out of the top 10 most popular holiday destinations in Australia, some yields were less than half of others on the list, with yields ranging from 2.41 to 6.31% for houses and 5.33 to 7.77% for units.
“By doing your research on the most popular destinations and making an informed decision, property investors could be making more than twice the amount of yield per year.”
New South Wales’ Cessnock had the lowest median house price of any of the top 10 destinations on the list, returning the highest yield for houses at 6.31%. Port Douglas had the highest yields for units, with 7.77%.
“While holiday homes may be a good option for investment property owners, not knowing the yield of your potential property may leave you funding someone else's holiday instead of your own,” said Hutchison.
“So make sure you do your homework, compare locations based on potential returns and not just their popularity, and research investment home loans to ensure you get the biggest bang for your buck,” she said. 
Finder.com.au's top investment holiday hotspots: Houses
<ol>
<li><a href="/news">Cessnock</a>, New South Wales Median house price: $255,500 Median weekly rent: $310 Yield: 6.31% </li>
<li><a href="/news">Byron Bay</a>, New South Wales Median house price: $705,000 Median weekly rent: $670 Yield: 4.94% </li>
<li><a href="/news">Hobart</a>, Tasmania Median house price: $468,000 Median weekly rent: $435 Yield: 4.38% </li>
<li><a href="/news">Darwin</a>, Northern Territory Median house price: $903,500 Median weekly rent: $750 Yield: 4.32% </li>
<li><a href="/news">Brisbane</a>, Queensland Median house price: $959,000 Median weekly rent: $770 Yield: 4.18%  </li>
<li><a href="/news">Port Douglas</a>, Queensland Median house price: $500,000 Median weekly rent: $380 Yield: 3.39% </li>
<li><a href="/news">Airlie Beach</a>, Queensland Median house price: $667,000 Median weekly rent: $435 Yield: 3.39% </li>
<li><a href="/news">Melbourne</a>, Victoria Median house price: $993,500 Median weekly rent: $605 Yield: 3.37% </li>
<li><a href="/news">Sydney</a>, New South Wales Median house price: $1,175,000 Median weekly rent: $1,120 Yield: 3.33% </li>
<li>Canberra, Australian Capital Territory Median house price: $2,150,000 Median weekly rent: $995 Yield: 2.41% </li>
</ol>
This article continues on the next page.
<hr class="system-pagebreak">
 Some of the cities with the highest yields for houses had the lowest yields for units.
The top investment holiday hotspots: Units
<ol>
<li>
<a href="/news">Port Douglas</a>, Queensland Median unit price: $184,000 Median weekly rent: $275 Yield: 7.77% 
</li>
<li>
<a href="/news">Darwin</a>, Northern Territory Median unit price: $510,500 Median weekly rent: $670 Yield: 6.82% 
</li>
<li>
<a href="/news">Brisbane</a>, Queensland Median unit price: $455,000 Median weekly rent: $570 Yield: 6.51% 
</li>
<li>
<a href="/news">Sydney</a>, New South Wales Median unit price: $598,000 Median weekly rent: $720 Yield: 6.26% 
</li>
<li>
<a href="/news">Airlie Beach</a>, Queensland Median unit price: $338,500 Median weekly rent: $405 Yield: 6.01% 
</li>
<li>
<a href="/news">Byron Bay</a>, New South Wales  Median unit price: $441,500 Median weekly rent: $510 Yield: 6.01% 
</li>
<li>Canberra, Australian Capital Territory Median unit price: $450,500 Median weekly rent: $510 Yield: 5.89% </li>
<li>
<a href="/news">Melbourne</a>, Victoria Median unit price: $414,500 Median weekly rent: $465 Yield: 5.83% 
</li>
<li>
<a href="/news">Cessnock</a>, New South Wales Median unit price: $259,500 Median weekly rent: $290 Yield: 5.81% 
</li>
<li>
<a href="/news">Hobart</a>, Tasmania Median unit price: $424,000 Median weekly rent: $435 Yield: 5.33%</li>
</ol>
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jrichardson-uRX5hFdKfN

The top 10 holiday hotspots: Finder.com.au

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There’s no doubt the Gold Coast residential market is entering a growth phase. After five bad years, in which prices went backwards, the Gold Coast is moving again.
Sales activity is rising strongly across the region and the latest figures from the Real Estate Institute of Queensland suggest prices are moving in the right direction.
But we remain opposed to investment in this market.
Here’s an example of why. On 12 June, the Gold Coast Bulletin published a news article under this headline: '104-storey Southport tower poised to steal Q1 crown of Southern Hemisphere’s tallest residential high rise'.
Apparently a three-tower complex called Imperial City is planned for Southport. The building will be 75, 85 and 104 storeys, dwarfing the 78-storey Q1 which is currently tallest high-rise on the Gold Coast, as well as in Australia and Southern Hemisphere.
Imperial City will contain 2,200 apartments, as well as 200 student rooms and a 200-room hotel.
The Gold Coast Bulletin reported: 
"The project has been welcomed by city leaders, with area councillor Dawn ­Crichlow declaring Imperial City would be the jewel in Southport’s development crown. “This is one of a range of Southport developments before the council at the moment and the number, as well as the size of this project, are a real show of faith,” she said.
"Southport MP and Assistant Planning Minister Rob Molhoek said he was “incredibly excited” by the proposal. “There are more than 17 major development approvals in line for Southport right now which is a testament to the fact that the CBD is on its way back to its former glory,” he said
“If this gets approved and built it would be a symbol of everything we are trying to achieve right now.”
That pretty much sums it up. This latest monument to a developer’s ego is seen on the Gold Coast as “a symbol of everything we are trying to achieve”.
Presumably Molhoek and Crichlow like oversupply and falling property values. The mentality of civic leaders and business people on the Gold Coast never seems to change. The place lurches from boom to bust, relentlessly and repeatedly, because this is how they think. They see the Gold Coast as a theme park for foreign tourists and property speculators, rather than as a city with families who needs services and jobs. If it reaches for the sky, it has to be good.
Just when the Gold Coast has soaked up its surplus of apartments, a process that took five agonising years, its developers and politicians are sowing the seeds of the next calamitous glut. The Imperial City monstrosity is one of many mega proposals for the glitter strip. New ones are announced weekly.
If you must buy on the Gold Coast, avoid the highrise. Buy houses in an inland suburb.
These are the areas of the Gold Coast market that really stand out in the research I’ve just completed for The Price Predictor Index. 
Rising markets include <a href="/news">Nerang</a>, <a href="/news">Mudgeeraba</a>, <a href="/news">Coombabah</a>, <a href="/news">Arundel</a>, <a href="/news">Ashmore</a>, <a href="/news">Carrara</a>, <a href="/news">Coomera </a>and <a href="/news">Varsity Lakes</a> – all housing markets inland, away from the skyscraper insanity.
Lest you forget, the latest edition of the REIQ’s quarterly report reminds us that if you bought the typical Surfers Paradise apartment five years ago, it’s still worth 10% less than you paid back then.
You can contact Terry via   <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
Photo courtesy of Syed Abdul Khaliq/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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terryryder-YECXbqmri2

Gold Coast enters growth phase, but is it really a good place to invest?

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Just over a year ago I started pushing an argument for investment in Queensland regional centres <a href="/expert-insights/buying/change-is-the-only-constant-in-real-estate-terry-ryder">like Cairns, the Sunshine Coast and Hervey Bay</a>.
It seemed like a big call because those locations – and others with similar CVs – had been poor performers in the previous three, four or five years.
But with hotspotting the future is the most important thing and the past is often irrelevant – because, in real estate, things change.
Cairns, the Sunshine Coast and Hervey Bay had several things in common. They had struggled in recent times because their economies were dependent largely on tourism, which is volatile at the best of times and had been through a rough patch. Their property markets had suffered badly from oversupply and prices had gone backwards.
But it was apparent in the early part of 2013 that important changes were happening. The previous surpluses had been largely soaked up. Tourism was improving. Local councils were working hard to diversify their local economies and find ways to attract new business.
And, most importantly, big money was being directed into significant new infrastructure. Growth was on the way back to these coastal cities.
The latest quarterly Market Monitor from the Real Estate Institute of Queensland confirms that these locations, and a couple of other coastal cities, are back on the growth path.
In the March quarter the median house price for Cairns rose 5.6%, the Fraser Coast (Hervey Bay) was up 3% and the Sunshine Coast rose 2%. Other growth was recorded in Rockhampton (3%), Townsville (2%) and the Gold Coast (4%).
As I have often pointed out, median prices can be a dodgy way to gauge markets. But when all data is pointing in the same direction, you can start to believe it. Particularly when other research arrives at the same conclusion.
That other research is our charting of sales volumes, which show that many <a href="/expert-insights/investing/forget-the-gold-coast-its-regional-queensland-leading-the-charge">Queensland regional markets have strong forward momentum</a>, headed by Cairns, the Sunshine Coast and the Gold Coast, and followed by Hervey Bay and Townsville.
Another Queensland regional market that’s had my vote in recent years <a href="/expert-insights/buying/regional-hotspot-toowoomba-shows-great-investor-potential">is the inland city of Toowoomba</a>, and this is another location moving in a positive direction.
In many ways, Toowoomba has been the success story of Queensland real estate in recent times. Market Monitor published data on the percentage of recent sales which made a profit and Toowoomba led the state for houses with a 95% success rate, ahead of Brisbane at 95% and Rockhampton on 87%. It also led the field for units, with 92% of sales making a profit.
Toowoomba also has a low vacancy rate, at 1.4%, is the fastest-selling region in terms of average days on the market and recorded an 8.2% rise in its median house price over the year to the end of March, with the unit median up 6%.
These regional Queensland cities are poised for a sustained period of growth, boosted by population growth, growing economies and, above all, infrastructure spending.
You can contact Terry via   <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
Photo of Hervey Bay courtesy of Greg Schecter/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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Regional Queensland back on the growth path with sustained momentum

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The standout market for me at the moment is Adelaide.
The South Australian capital has more forward momentum than most of the capital cities. Given that this has not yet translated into major price growth, it represents an opportunity for investors.
Adelaide is the only capital city which ended 2013 with sales volumes rising significantly and carried that into the early part of 2014. Some of our cities peaked, in terms of sales activity, in early or mid 2013. Some ended 2013 strongly but made a lukewarm start to 2014.
But SA is really just beginning its run.
Sales volumes are now 25% higher than they were at the start of 2013. Figures from the Australian Bureau of Statistics and Australian Property Monitor for the March quarter showed some movement in prices, but nothing substantial – around 1% for the quarter, with annual median price growth hovering around 4%.
The numbers will be larger by the end of the year. Throughout Adelaide there are suburbs with strongly rising sales activity.
What makes Adelaide so attractive for property buyers is that it’s by far the cheapest mainland capital city. You can buy two Adelaide houses for the price of one Sydney house.
The standout area of Adelaide, the one with the most forward momentum and the most compelling growth drivers, is down in the far south of the metropolitan area.
The municipality of Onkaparinga has an array of growth markets and is boosted by significant new transport infrastructure.
The new rail links to <a href="/news">Seaford</a> are now operating, with plans to further extend the line south to service areas like <a href="/news">Aldinga Beach</a> and <a href="/news">Port Willunga</a>.
At the same time, the $500 million upgrade of the Southern Expressway is under way. The two infrastructure projects together are revolutionizing transport links from the south to central Adelaide, a factor that usually supercharges property markets.
This is showing up in the sales figures. Several Onkaparinga suburbs are moving forward strongly, including Aldinga Beach, <a href="/news">Flagstaff Hill</a>, <a href="/news">Happy Valley</a>, <a href="/news">Huntfield Heights</a>, <a href="/news">Woodcroft</a>, <a href="/news">Aberfoyle Park</a>, <a href="/news">Christies Beach</a>, <a href="/news">Christie Downs</a>, <a href="/news">Port Noarlunga South</a>, Seaford and <a href="/news">Seaford Rise</a>.
Other areas of Adelaide with plenty of forward-moving markets include the municipalities of Campbelltown (a cluster of inner north-east suburbs, mostly with median house prices in the $400,000s), Holdfast Bay (bayside area including <a href="/news">Glenelg</a>) and <a href="/news">Salisbury</a> (lower end northern suburbs, with median prices mostly in the $200,000s).
There’s also steadily rising activity in the inner-city apartment market.
The hard part is convincing anyone that Adelaide and South Australia are worthy of investment. The state and its capital city lack the growth reputation that draws investors to Queensland and Western Australia. 
Even South Australians are reluctant to invest in Adelaide. Now would be a good time for an attitude adjustment.
You can contact Terry via  <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
Photo courtesy of Doug Barber/ <a href="https://creativecommons.org/licenses/by-sa/3.0/" target="_blank">Creative Commons</a>.
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Adelaide is the standout market and opportunity for investors

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The thing about federal budgets is that the repercussions take time to become visible.
On budget night and in the days that follow, we get the big picture stuff. Well, most of it anyway. Joe Hockey’s budget speech managed to overlook the biggest single item of all: an $80 billion decimation of funding to the states for education and health.
Did he forget? Or did he lack the gumption?
The devil, as always, is in the detail – and that takes time to become known. We’ll still be hearing about newly-realised consequences a month from now.
This week the high school attended by my teenagers told students about the exponential rise in the cost of attending university. The message was: work harder and get a scholarship. Otherwise, unless your parents are rich, you won’t be able to afford university.
I’ve just read that community providers will have to scrap plans for 3,500 affordable homes in Sydney, a place that could do with a few more, because the federal government has cancelled funding. The Commonwealth was to provide 70% of the cost but that was axed in Joe Hockey’s budget.
But he does have $50 million to donate to resources companies wanting to establish coal mines in Victoria’s Latrobe Valley.
Many investors love to invest in towns boosted by mining ventures, the volatile nature of those markets notwithstanding.
But given the recent history of companies seeking government handouts to start mining ventures based on new technologies in the Latrobe Valley, I wouldn’t be rushing out to invest in <a href="/developments/traralgon-vic-3844">Traralgon</a> or <a href="/developments/morwell-vic-3840">Morwell</a> just yet. Like their predecessors, they’ll probably never happen.
I’m struggling to understand the philosophy behind the federal government’s spending priorities. It seems that “the age of entitlement” is over, unless you’re a poor starving mining company.
The impact on Canberra’s economy and property market from this budget will become more and more apparent as the details become known.
<blockquote>
It’s another blow for Canberra’s struggling property market, but potentially a major boost to accommodation demand in Gosford.
</blockquote>
Not only will the national capital take the brunt of the cuts to public service jobs, but there will be further impacts on the relocation of jobs from Canberra to other, more politically-deserving, regions.
For example, 600 Commonwealth public service jobs are being moved from Canberra to <a href="/developments/gosford-nsw-2250">Gosford</a> in New South Wales.
It’s another blow for Canberra’s struggling property market, but potentially a major boost to accommodation demand in Gosford.
Gosford has had a topsy-turvy market in the past decade, with peaks matched by troughs and, as a result, a poor long-term capital growth rate. But it’s currently immersed in another up-cycle, having caught the wave from Sydney, but remains affordable – with median prices of $325,000 for houses and $280,000 for units.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
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Pain or gain? The areas that will feel the impact of the budget

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I’d rather be a seller than a buyer in Sydney in 2014. That’s my general response to a frequently-asked question: is it too late to buy in Sydney?
The time to buy in Sydney to achieve maximum gain from the recent recovery was late in 2012. Most of the Sydney locations I was recommending back then have experienced capital growth between 15% and 20% in the past 12 months. That won’t be repeated in the next year, although there will be further growth.
Some commentators have sought media profile by making the absurd statement that “the property boom is over”.
It has a similar ring to the declaration in mid-2013 that “the resources boom is over”. A year later we still have projects worth around $250 billion under construction, with major new ones (like the $9 billion Roy Hill mine and Galilee Basin projects totalling $30 billion) just getting under way, but if it makes a headline no one seems to care too much about balance or accuracy.
The claim that the “the property boom is over” is equally flimsy and made for the same shallow reason: short-term publicity and the truth be damned.
Sydney’s boom is unlikely to retain the heights of 2013 but growth continues. Melbourne is yet to reach the levels of Sydney. Brisbane and Adelaide are just getting started and are likely to feature among the growth leaders by the end of the year. Perth still has momentum and Hobart, following the election of a new state government, is set for its best year in a long time.
The thing about Sydney is that it’s a very big city, with 700-plus suburbs. There are many locations with activity created by local reasons, rather than city-wide momentum. There will be ongoing growth in specific locations for specific reasons, most of them related to transport infrastructure.
There will investment opportunities from the Badgerys Creek airport, once definitive information about flight paths and infrastructure location is known. The North West Rail Link is advancing, with impacts on real estate along its route to Rouse Hill. Ditto the South West Rail Link. WestConnex will be another game-changer, impacting suburbs such as Westmead.
So the secret to finding further growth in Sydney is to <a href="/expert-insights/investing/follow-the-infrastructure-trail-to-find-future-growth-suburbs">follow the infrastructure trail</a>.
Beyond that, investors can profit by looking outside Sydney to regional New South Wales. When capital cities boom, there is often a ripple effect out to the regions. Two cities not far from Sydney, and advancing for local reasons also, are Wollongong and Newcastle.
Wollongong has defied predictions that it would lapse into recession following economic reversals such as downsizing by Bluescope Steel. One hysterical headline suggested property values would fall 50%. But the Illawarra is the latest example of a regional community fighting back from adverse circumstances. A lot of infrastructure and property development money is pumping into Wollongong and real estate markets are rising.
Others to watch include Dubbo, Tamworth and Gunnedah, as well as Newcastle - which continues to be one of Australia’s most under-rated cities and property markets.
You can contact Terry via   <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
Image courtesy of Wikipedia/Creative Commons.
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Too late to buy Sydney - try Wollongong or Dubbo, Tamworth and Gunnedah, and Newcastle

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New South Wales' Lake Macquarie has recorded a 20% increase in sales transactions over the past two years, results from PRDnationwide's Property Watch report have calculated.
This result aligns with $100 million of spending from public and private enterprises on ew facilities, such as the Cameron Park Marketplace shopping centre, stores and a new train station at Cardiff.
Harrison Hall, a PRDnationwise research analyst, said that new developments will cater for employment opportunities in the contruction industry.
“We've seen median house prices soar by 6.4% over the past two years and the unit market is following a similar pattern,” Hall explained.
“The investment in public amenities, new property developments and care facilities for an ageing demographic combined with its proximity to the burgeoning economic centre of Newcastle is certainly boding well for Lake Macquarie's real estate industry.”
PRDnationwide expanded further in Lake Macquarie at the end of 2013.
Entry prices have <a href="/news">gathered strong pace in Cardiff</a>, a Lake Macquarie suburb, over the past few years. The median house price is currently at $363,500.
Photo courtesy of Wikipedia/Creative Commons.
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Lake Macquarie records 20% sales increase over two years

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Currently, more than $47 billion worth of infrastructure projects are planned for Brisbane city, with suburbs emerging as those to benefit most from the spend, according to Place Advisory.
Director of Place Advisory, Lachlan Walker, said that while all areas of Brisbane will see themselves doing well from the improved infrastructure, there will be some potential hotspots.
“The current infrastructure pipeline has more than $47 billion worth of major projects in various stages, all of which will further enhance the attractiveness of the city, drawing in both owner occupiers and investors," Walker said.
“But while we know Brisbane as a whole will benefit, we can certainly pinpoint some particular suburbs that will benefit more than others from infrastructure planned or underway, and by benefit we mean see a marked increase in demand to live there, resulting in greater price and rental growth.”
He pointed to the following suburbs and the infrastructure they will benefit from:
<a href="/news">Brisbane City</a>
Underground Bus Loop: Currently in concept stage. To connect at George Street, Queen Street, Albert Street and Adelaide Street in the CBD to reduce confestion and travel times.
“Since it only runs through the city, the Underground Bus Loop will benefit residential properties located in the CBD itself, as well as neighbouring Spring Hill,” said Walker.
<a href="/news">Spring Hill</a>
Underground Bus Loop
<a href="/news">Woolloongabba</a>
BaT Tunnel: Currently in concept stage. This will be a 5.4 kilometre proposed north-south tunnel to bring trains from Dutton Park to Spring Hill. Walker expects that the journey will be shortened in this area from the southern suburbs to the inner north suburbs, helping reduce the requirement to travel through CBD conhestion.
“It will be built to accommodate the additional 130,000 workers expected for the CBD and adjacent suburbs over the next 20 years, and will fulfil the need for public transport services for the next 50 years,” he said.
<a href="/news">Dutton Park</a>
BaT Tunnel
<a href="/news">Toowong</a>
Legacy Way: A tunnel set to connect the Western Freeway at Toowong with the Inner City Bypass at Kelvin Grove. It will minimise congestion and allow easier access to the airport, and will cut out the use of major roads.
“Upon completion Legacy Way will almost halve peak travel times between the Western Freeway and the ICB," he said. Indooroopilly Shopping Centre Redevelopment : Expected to come to a completion soon. Involves expansion and renovation of existing shopping centre and an adjoining new plaza at the junction of Station and Stamfords Roads.
“With the redevelopment aiming to bring a quality of shopping that’s currently lacking in the western suburbs, it will benefit the entire area, including Indooroopilly itself, as well as Toowong, St Lucia, Taringa, Graceville, Chelmer, Sherwood, Fig Tree Pocket, Jindalee and Kenmore,” said Walker.
<a href="/news">St Lucia</a>
Legacy Way
Indooroopilly Shopping Centre Redevelopment
<a href="/news">Indooroopilly</a>
Legacy Way
Indooroopilly Shopping Centre Redevelopment
<a href="/news">Hamilton</a>
Kingsford Smith Drive Upgrade: In concept phase. Running off Kingsford Smith Drive, it will reduce congestion and benefit local residents.
Brisbane Airport New Parallel Runway: Currently under construction. Looks to support the needed flights in and out of Brisbane, which may result in increased demand for property with access to the airport.
“Consequently we believe suburbs such as Hamilton and Nundah will see a boost in popularity from the construction of the new parallel runway. They’re in close proximity to the airport and easy to get to and from for travellers," said Walker.
<a href="/news">Nundah</a>
Brisbane Airport New Parallel Runway
Other suburbs that may benefit: <a href="/news">Taringa</a> (from Indooroopilly Shopping Centre Redevelopment) and Mt Coot-tha (both benefiting from Legacy Way), and <a href="/news">Graceville</a>, <a href="/news">Chelmer</a>, <a href="/news">Sherwood</a>, Figtree Pocket, <a href="/news">Jindalee</a> and <a href="/news">Kenmore</a> (from Indooroopilly Shopping Centre Redevelopment).
Despite these benefits for the area, Walker said that the best time to buy is as soon as the infrastructure project is announced.
“However, once the benefits of the project flow through to the area there will only be increased demand from buyers and renters, and this means prices and rents will continue to grow, or at the very least be stable.”
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Nine Brisbane suburbs to become property hotspots: Place Advisory

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Seven years ago a real estate professional in Tasmania sent me a bottle of whiskey because he liked what I wrote about his area.
I don’t particularly like whiskey and I don’t want gifts for writing positive things about a location, because it carries a whiff of corruption. But it was an expensive brand of liquor and I do remember receiving it, the name of the person who sent it, who he worked for and the fact that I sent him a thank-you note – although it was seven years ago.
I’m certain that if someone sent me a $3,000 bottle of wine and I sent that someone a hand-written thank you note, I would remember it.
So I’m incredulous that some sections of the media are painting NSW Premier Barry O’Farrell as a noble statesman who sacrificed himself at the altar of ethics in politics after a memory lapse. Give me a break; he is merely the latest politician to be mired in the cesspool that is the Australian Water Holdings, which is shaping up as Australia’s Watergate. More big names will fall before this one has played out.
Favours to businesses and property developers, in return for gifts or party donations, are all too common in Australian politics. It’s the single most likely explanation for the unnatural enthusiasm of the Victoria state government for approving more and more apartment towers in a vastly oversupplied market, often over the top of local councillors who said ‘no’ to the project.
If you want to understand how the politics of property development work in Melbourne, read the novels of Peter Temple, which have been turned into a series of television movies starring Guy Pearce and currently running on ABC TV.
But back to New South Wales, which now has a new Premier. Whatever the reality of the Barry O’Farrell situation, there’s no doubt that the state economy and the Sydney property market have benefited from his governance.
For almost 10 years, most of it under an ALP government that gets my vote as the worst in my lifetime, the Sydney market went nowhere and was the chronic under-achiever of capital city Australia. Then last year it sparked to life and showed the first meaningful growth since 2003.
<blockquote>
Suburbs will rise not so much because they’re near the airport, but because they have rail or motorway links that previously did not exist.
</blockquote>
The single biggest difference is that money is being spent on infrastructure. As I have often remarked, infrastructure spending is the number one game-changer in residential real estate.
Until recently Adelaide, a city a quarter the size of Sydney, had more new infrastructure happening than did the nation’s biggest city. But now Sydney is receiving belated impetus from long-overdue spending on infrastructure, included rail links, motorway upgrades and hospital expansions.
Many investors are asking whether they’ve missed the boat in Sydney. The short answer is that they should have been buying in 2012, when prices were down and competition was scarce. The 2013 upturn was highly predictable – and now many areas have had double-digit annual growth. I would be focusing on regional areas of NSW with strong growth prospects and a much higher degree of affordability, including <a href="/news">Wollongong</a> and <a href="/news">Dubbo</a>.
The longer answer is that there is still more growth to come to Sydney and the key to finding it is to follow the infrastructure trail.
There will a considerable boost to locations out towards <a href="/news">Rouse Hill</a> as completion of the North West Rail Link draws closer. Plans to build the missing link motorway in the north of Sydney will impact suburbs in that area. And now a whole new series of impacts have been introduced with the possibility that the Badgerys Creek Airport may actually happen.
Don’t be in too much of a rush to exploit the airport plan, because the best clues about where to buy are yet to be revealed. The most influential aspect about that facility will be the transport infrastructure to be built around it – the road and rail links feeding into it.
Suburbs will rise not so much because they’re near the airport, but because they have rail or motorway links that previously did not exist.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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Follow the infrastructure trail to find future growth suburbs

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Already the questions are streaming in: how will the new Sydney airport impact on property markets?
Will Badgerys Creek make Penrith become a boom town? Will Liverpool surge? Where should I buy to benefit?
Many issues are evident here. One is that investors are constantly trawling for opportunities and for events that will be game-changers. Some are looking for shortcuts to wealth and see an announcement like Badgerys Creek as the door to a rapid windfall, if they can zero in on the best places to invest.
Another issue is about risk in real estate. And another addresses the elements that generate out-performance in real estate investment.
Let’s take the last issue first. There’s no doubt infrastructure is the biggest creator of real estate wealth. New infrastructure is the ultimate game-changer.
And the most influential is transport infrastructure.
<blockquote>
I suspect more people will waste money buying in haste than make money by getting it right.
</blockquote>
Hotspotting research shows that suburbs with commuter train stations have higher capital growth rates than those without. A new motorway or bridge can revolutionise the appeal of a location by making it more accessible. The intersection of two motorways is a magnet to warehousing and logistics real estate – and other forms of property spin off it, including residential.
The thing about a major new international airport is that it’s a double-edged sword, it can create problems as well as opportunities. Property under the flight path may suffer while others will benefit from the economy generated by the facility.
It’s similar with a commuter train station: the ideal is to be within walking distance but not so close as to suffer from the noise and the traffic.
The most direct real estate beneficiaries of a new airport are outside the residential sphere. A new airport creates, firstly, demand for hotels and secondly, for warehousing and other light industrial property.
Residential is an indirect beneficiary because an international airport creates a new economy with tens of thousands of jobs, and people like to live close to their work.
But perhaps the core issue is risk. When a project like Badgerys Creek is announced, lots of people dash about looking for ways to make a killing from buying strategic real estate. But the airport may never happen. This is the ultimate political football and there will much upheaval along the road to construction. Plans for a second Sydney airport have been talked about for close to 50 years. The Prime Minister’s announcement does not make this a certainty.
If it does happen, Badgerys Creek won’t be reality for maybe 10 years – although the Prime Minister hopes construction will start in 2016. But before that can happen, big issues need to be sorted, including funding, road and rail links, project partners and the issues of noise and flight paths.
Long-term, the impact of a new airport at Badgerys Creek would be enormous. Short-term, many investors will expend considerable energy trying to find out how best to turn the federal government’s decision into a personal windfall.
Many will feel they need to act urgently or they’ll miss a major opportunity. My advice is to take a cold shower, settle down and watch what happens.
I suspect more people will waste money buying in haste than make money by getting it right.
You can contact Terry via  <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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