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

Joel Robinson

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

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

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

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

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

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

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

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

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

Off the plan

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Around $11 million has been paid for an off-the-plan penthouse in St Leonard’s The Landmark development.
It was secured in the second stage release of the complex by Chinese developer New Hope and VIMG.
The sales included four two-storey penthouses on levels 55 to 58 priced at $3 million to $10.9 million.
The median sale price for units in the suburb is $915,000, according to CoreLogic.
The mixed use development is at 500 Pacific Highway, the tallest residential tower in St Leonards.
A range of studios, one, two and three-bedroom properties are currently available, with prices ranging from $661,000.
For more information, <a href="https://thelandmarksydney.com.au" target="_blank">click here</a>.
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jchancellor-FAypfDUnLy

St Leonard's $11 million penthouse sale

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Considering and discussing, the purchase of an investment property opens up all sorts of arguments, discussions and from time to time, polarizes the parties involved.
This is not to mention also spoiling a friendly neighborhood BBQ or coffee catch-up with a friend.
One of the many and current topics of discussion is whether we should buy new and off-the-plan apartments in one of the main three capital cities of Australia; namely Brisbane, Melbourne or Sydney?
I have taught and have written about off-the-plan purchases. The following reason for buying can be used as a blanket approach when considering a new apartment purchase. Notwithstanding, this strategy may be considered across any city or development, as a matter of course.
The main beneficial reason why an investor would buy a new apartment, before completion, was simple to understand in previous years. Developers needed pre-sales to support their construction application for the banks.
Pre-sales which are now predominantly called off-the-plan sales, had one major attraction in the past, which now appears to be lost. As an off-the-plan purchaser, there was a benefit; we bought early and saved from 5 and up to 10 percent the value “at the time” off the purchase price. This was measured against prices of similar completed apartments, on the day.
The current trend and market for off-the-plan purchases.
The current trend however, has bucked the reasoning behind the support given to developers with pre-sales.
On the one hand, developers have become greedy and with the support of the financial sector, have increased the asking price.
In other words, we now pay tomorrow’s market value for the apartment and with no added discount as a benefit. The underlying question is “but why?” This is all because of the highly speculative new client base: the overseas investors that have come in and in large numbers. As well as the Self-Managed Super Fund (SMSF) vehicles, set up for local speculators and investors.
Both overseas and SMSF investors are fueling the new-apartment development bubble as has never been seen before. With this in mind, developers and marketing companies have been able to increase:
<ul>
<li>The end property values to account for market forces that has seen a huge upswing in prices; and</li>
<li>To pay for the high commissions paid out to marketing agents and the financial sector. Commissions in the tune of 8-10 percent.</li>
</ul>
The repercussion of industry greed
The outcome of the high prices charged for new-apartments and higher commissions than the industry norm is a no-brainer; the losers are the buyers, most of the time.
For years, I have been discussing the need for the Real Estate Industry and watchdogs to tighten controls against this push, but my calls have fallen on deaf ears and the outcome is:
1)     We now have an understated over-supply of apartments across Brisbane, Melbourne and Sydney;
2)     The rental market cannot and will not effectively absorb the new supply, which will have an increase in rental vacancies; and
3)     The inevitable, valuers will value down apartments to safeguard their client’s interest, the banks.
We may well see drops of 20-30 percent in values and in the near future. Likewise, rental yields will diminish to 60-70 percent off what they are today.
Supply chart of apartments to be completed in the next 12-24 moths
<a href="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.56%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.56%20AM.png" alt="">
Where to from here?    
I have been asked by friends, clients and family; where to from here? I have shared the following with them for over 12 months and only now the mainstream are coming to the party.
1)     Hold and wait; wait for another 6-12 months before looking to buy, if you need to buy new.
2)     Most of the new apartments are under-engineered, badly built and come with a lot of issues.
3)     Have you noticed that most spruikers try and only sell you, new and off-the-plan apartments? and
4)     Communicate as much as possible with local real estate agents that don’t have invested interest in the new development. After all, they may be the ones that will manage the property for you.
The caption below is an article recently posted by a colleague of mine. It is a timely argument of what is to come. This is all due to the huge oversupply of high-rise development. When we match this information with the number of apartments currently under construction; it appears to be the makings of a nightmare for investors in high-rise developments. 
<a href="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.43%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.43%20AM.png" alt=""> 
The full article may be found on: https://mortgageeproperty.com/foreign-investor-settlement-risk-soaring.html
Tips in managing your investment
If you do find yourself in a position that you have bought an off-the-plan apartment and your property is in the final stages of settlement; I recommend the following tip, to minimize long term vacancy.
Don’t rely on the selling agent’s “marketing company” to lease your apartment, particularly if they were the leading agency in the sales phase. You only have to ask; how many other investor’s apartments are they also trying to lease out? 
Now if you are looking to invest in new apartments, our old and proven theory remains steadfast. Invest in low set building blocks and preferably one’s that have no more than three levels.
More importantly, be sure to and look out for the next article on: buying in low set building blocks, versus high rise apartment blocks; winners and losers.  
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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ealmedia-arK4DBYLjS

Bumpy ride buying new apartments in Melbourne, Brisbane and Sydney: Edwin Almeida

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An off-the-plan purchase of an apartment near Monash University in Melbourne by a Chinese based buyer is caught up in the emerging settlement risk scenario.
The off-the-plan sale for $600,000 is keeping the buyer up at night. Liu Jiabing planned for his daughter’s education when he helped her to get an offer to enrol next year, and then bought an apartment in Melbourne that is due to settle next month.
“At the very first, I was told I only had to pay 20 percent downpayment,’’ said the buyer, Mr Liu, who works at a prestige foreign language school in Nanjing, in China’s east.
He told The Australian the financiers then told him to pay 30 percent, "and later 40 percent, as the banks won’t lend and we have to borrow from small ­financial organisations.
“Last night I was told I have to pay 55 percent for down-­payment.
"But how am I supposed to find so much in cash in such a short time? I still have to pay my daughter’s university fees.”
Mr Liu is among the Chin­ese parents who buy new off-the-plan apartments before sending their children to Aus­tralian universities.
AC Property, a Melboune-based property portal, has been taking four or five calls every day from buyers who seek to resell their off-the-plan apartments after finding it hard to settle, the newspaper reported.
“We have been referring our clients to mortgage brokers to see if they can get alternative finance, but we haven’t seen a single case of success so far,” said AC Property ­director Esther Yong.
In once case parents, based in Guangzhou, in China’s south, have already missed the settlement deadline of July 18 for the apartment they bought for $440,000.
The developer is now charging them about $150 a day as penalty, which is pushing Mr Li to resell as soon as possible.
The Australian columnist Robert Gottliebsen wrote today the Chinese link to the looming apartment glut puts the education sector and Australia's international reputation "in peril."
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Higher equity required for offshore Chinese buyers settling off-the-plan apartments

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One in 20 off-the-plan buyers walked away from their Melbourne apartment purchases in June, according to the law firm, Maddocks.
The law firm processed over 800 apartments contracts in June.
They recorded that 5 per cent of the purchases did not settle on their apartment.
The historical average was about 3 percent.
It record of default rates sat at 2 percent between February and April, when volumes were lower.
Of those buyers who did not settle in June, roughly two-thirds were foreign-based, The Australian Financial Review noted.
The Maddocks firm handles about 15 percent of all off-the-plan sales in Melbourne each year worth around $3 billion.
Its development practice partner, Nick Holuigue, played down the rise in defaults.
"Our figures don't show any dramatic increase in settlement defaults, despite the usual big rise in settlement volumes in June," he said.
"They show that despite the banks changing or tightening their lending policies and the media talking up the risk of rising defaults, buyers – including foreign buyers – are still settling their contracts and sourcing finance where required.
"The only thing we are hearing from developers and experiencing ourselves is that foreign buyers are perhaps taking a little longer to settle.
"Nothing we are experiencing in our dealings with a variety of buyers' representatives give us cause for concern that our developer client's FIRB-approved buyers are going to be unable to settle."
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One in 20 fail to settle Melbourne OTP purchases

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The South Australian state government's decision to extend stamp duty concessions for off the plan apartments in the 2016-2017 State Budget has been warmly welcomed by the local development sector.
Pat Gerace, executive director of the SA branch of the Urban Development Institute of Australia said the UDIA has been urging the Government to continue stamp duty concessions for off-the-plan apartments, which will now be extended by 12 months until June 30 next year and include off-the-plan apartment properties across the state.
“These stamp duty concessions will make apartment properties more affordable and help more homebuyers into the market. Importantly, it will also allow more choice for those who are downsizing or trying to get into the market but don’t want to live in the city,” he said.
"We also requested the Government remove land tax on undeveloped residential land, which would reduce the land tax impost that is ultimately applied to pricing when the land is eventually ready for purchase by homebuyers. 
"The Government also needs to provide funding to establish proposed infrastructure schemes and an e-planning system by mid-2018 – as outlined in the recently passed Planning, Development and Infrastructure Bill 2015. There’s been good progress in recent times to reform the state’s planning system, so it’s important the Government provides the necessary funding to establish new initiatives such as infrastructure schemes and an e-planning system to help unlock new investment and generate economic growth."
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jonathanchancellor-7SQnKwU6yx

SA extend tax concessions for off the plan apartment buyers

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South Sydney Rabbitohs prop George Burgess has snapped up a garden apartment in Randwick's Epoque boutique development.
Recently engaged to model Joanna King, Burgess paid about $2 million for the MHNDU designed three bedroom apartment. <a href="https://epoqueliving.com.au/" target="_blank">There's eight in the block</a> listed through D'Leanne Lewis at Laing &amp; Simmons Double Bay. Prices range up to $2.6 million with 2017 completion.
They currently own in a Chifley duplex, where he lived next door to former team mate Tim Grant who recently sold for around $1.65 million through McGrath agent Marnie Seinor.
George clearly didn't fancy buying brother Sam's apartment, who took his Bondi Beach apartment off the market last week having decided to lease it out with a $1950 a week asking price. It was also available at $2600 a week furnished.
This article was first published in the Saturday Daily Telegraph.
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George Burgess buys off the plan in Randwick's Epoque

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SPONSORED POST
If you have bought an off-the-plan property, assessing that property post construction is an important part of the settlement process.
Of course, you want to ensure that the property you agreed to purchase is the same that is being delivered so that you’re getting what you’re paying for!
The most cost effective way to make sure your property is delivered just as your purchase contract promised, is to have your contract documentation reviewed and the property physically inspected and assessed by an appropriately qualified Building Consultant.
An NBtax Condition Assessment, completed by a Napier &amp; Blakeley Building Consultant will take note of the ‘as built finish’ of your property. From our initial review of purchase documentation, contract of sale, agreed finishes and specifications, we have a unique understanding of what was agreed to be built.
We will inspect your property on your behalf, asses and document the condition of the finishes within the property, good or bad.
Following an inspection a Condition Assessment will be completed by NBtax and will provide a concise summary of the condition of the property. It will list defects that the developer and or builder should address to deliver the property that is consistent with expectations, including but not always limited to, the agreed plans and specifications, good building practice and expected industry standard.
Our assessment will give you a clear understanding of any potential issues or defects before you take possession, move in or put the property up for lease.  It also gives you peace of mind, providing you with a document that will ensure agreed items between you, the purchaser, and the vendor are installed or rectified prior to settlement.
The best time to have a Condition Assessment completed is as close as possible to the planned settlement date. It is important to note that you still have a contractual obligation to settle your purchase on time. However, under normal circumstances having a condition assessment completed on your property will make you a more informed purchaser and provide you with a written report to enable you to highlight to the developers identifying items requiring attention.
This service is especially valuable to those offshore purchasers who are not present at the time of settlement. We are able to act on their behalf during settlement inspections to ensure relevant conditions are met within the sale contract.
Our specialised teams are ready to help, contact us today.
For more information, <a href="https://nbtax.com.au/" target="_blank">click here</a>.
 
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Be sure to get what you paid for!

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“Buying off the plan” refers to buying property in a plan of subdivision that has not been registered, or a unit that has not been built.
Buyers enter into a contract with a developer to buy property in a development which may not be completed for some years.
Marketing and selling property off the plan can enable land to be developed in an efficient, cost-effective way. Buying property in this way can also allow buyers to future-plan their housing. However, there are particular risks in this type of sale.
Contracts between the buyer and seller usually contain a number of conditions. These conditions may outline matters including:
<ul>
<li>the agreed time-frame for the developer to complete the project;</li>
<li>the agreed standards to which the project should be delivered; and/or</li>
<li>how the contract can be varied or terminated, and by who.</li>
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Legislation has recently been amended to provide additional protection for purchasers of property, off the plan. Learn more about these changes and the consultation process, below.
What change has been made to the law? 
The law has been strengthened to help stop developers from unreasonably using sunset clauses, provided in their contracts for off the plan residential property sales, to bring those contracts to an end. 
Under the Conveyancing Amendment (Sunset Clauses) Act 2015, a developer that is the vendor under a contract is now required to give notice to each purchaser under the contract, before ending the contract. This notice must state why the developer proposes to end the agreement and give reasons for delay with the project.
For the contract to be terminated, the purchaser would need to agree.
If the purchaser does not agree, and the lot has not been created before the sunset date, then the developer will need to obtain an order from the Supreme Court permitting the contract to be rescinded.
The new legislation will apply to all off the plan contracts that have not been completed - that is, contracts that are still in operation on 2 November 2015; and, also, to any off the plan contracts entered into on or after 2 November 2015.
So, for example, if a developer has sought to use a sunset clause to rescind a contract made on or after 2 November 2015, the contract would attract the protection of the new law and the developer would need to obtain a Supreme Court order to end that contract.
More information is available at <a href="https://www.lpi.nsw.gov.au/" target="_blank">www.lpi.nsw.gov.au</a>.
Why was this change needed? 
Amendments to legislation have been passed by the NSW Parliament to protect consumers in response to an emerging concern that certain developers may be terminating contracts specifically for financial gain, through the use of ‘sunset clause’ provisions.
A sunset clause can be used by either party to end the contract, if the project is not completed on time. This clause in a contract can help buyers by giving them the right to end a contract and pursue other property options, if the building project is delayed.
However, some NSW consumers have reportedly had their contracts rescinded by developers using sunset clauses, only for the land or apartment that has been the subject of those contracts to be re-sold shortly after, for a higher price.
In some other instances, developers have used delay with a project to activate the sunset clause.
This practice creates uncertainty and disappointment for would-be buyers, who may have been waiting to settle the purchase for many months or years.
To respond to these concerns, NSW Fair Trading and NSW Land and Property Information (LPI) consulted on the extent of the problem and considered a range of measures to address this issue. Those consultations have resulted in the new legal procedures outlined here and as set out more fully in the Conveyancing Amendment (Sunset Clauses) Act.
Response to the buying property off the plan survey 
In considering changes to the current laws, the NSW Government conducted a survey to obtain feedback about off the plan property sales. 639 people responded to that survey over a three week public consultation period. The survey closed on 14 October 2015.
Fair Trading and LPI assessed the results of that survey to help identify and respond to key issues related to this type of property sale in NSW. Industry stakeholders and consumer representatives were also separately consulted, to consider possible changes to the law.
For more information, <a href="https://www.fairtrading.nsw.gov.au" target="_blank">click here</a>.
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Property 101: NSW buying off the plan

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iBuyNew, the online marketplace connects prospective property buyers with off-the-plan properties, whether it's apartments or townhouses.
The company had marketed more than 650 new residential projects around Australia as of September 2015, according to its CEO Mark Mendel.
Some of the recent properties featured on iBuyNew include projects in NSW's Gosford, Merrylands, Melbourne and Brisbane. The developments are priced in the range $435,000 to $490,000. 
iBuyNew has more than 2,700 new and Off The Plan (OTP) properties.
Starting in 2013, iBuyNew sold more than $170 million worth of properties and generated more than $600,000 in profit last year, according to an article in the Australian Financial Review late last year.
Mendel plans to grow his team to 30 by the end of 2016 as the company begins to expand its offerings and user base.
Recently, technology investment company Disruptive Investment Group Limited increased its stake in iBuyNew to 100 percent from 50 percent for $5.9 million. 
The deal is expected to be completed before July this year subject to approval from shareholders.
Mendel said in a recent media post that iBuyNew are property consultants, helping buyers zero in on the right property through reach, advice and insights. 
The company pays its consultants a flat fee irrespective of whether it's a $300,000 or a million dollars. 
"Many other real estate agents are paid a commission, so the more you spend, the more they gain," said Mendel.
He also said many developers were approaching the company even before launching their projects to the market.
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iBuyNew helping buyers with off-the-plan properties

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The Chinese purchasing of offshore property will increase in 2016, according to an industry survey.
According to Investorist, an online platform for off-the-plan sales, a poll of China-based real estate agencies found 149 of 150 of them expect to see a spending spree exceed that of 2015.
Australia was nominated by 60 percent of those agents as their most preferred market for property investment, The Australian Financial Review has reported.
Those agents will sell up to 11,000 offshore properties to their Chinese clients this year.
China is now Australia's largest foreign investor, with $46.6 billion in proposed investment in 2015, according to the Foreign Investment Review Board.
Real estate investment comprised the bulk of Chinese investment, with $24 billion spent in 2015, double that of the previous year.
The Investorist survey suggests that risk mitigation is the main reason Chinese investors are looking abroad.
The devaluation of the Chinese yuan against the US dollar has reduced the buying power of Chinese investors in the US and Britain, whilst the Chinese government has been attempting to put the brakes on offshore investment in a bid to shore ip its waking currency. 
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