Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Queensland

<html><body>
Southeast Queensland’s world-class beaches are driving median price growth for our coastal housing markets, according to the REIQ.
Noosa continues to reign supreme with 9.6 per cent annual growth, followed by Gold Coast with 7.3 per cent annual growth and Sunshine Coast LGA with 6.8 per cent annual growth to median house prices. 
REIQ CEO Antonia Mercorella said the growth surge was helped along by a boost in tourism numbers. 
“Tourism is one of the largest contributors to Queensland’s gross state product (GSP), with almost 8 per cent of GSP coming from tourism.
"This is roughly $25 billion in the year to June 2016, which means when that sector grows it offers employment opportunities and this attracts workers who need somewhere to live,” she said. 
The strong performance of the southeast corner’s coastal markets has helped drive Queensland’s growth over the past 12 months, with more than 58,000 houses sold and an annual median price growth of 2.4 per cent. 
Brisbane LGA: Brisbane LGA enjoyed another year of steady sustainable growth, with the annual median house price increasing 3.1 per cent to a new high of $660,000. 
This market has grown almost 30 per cent over the past five years, demonstrating solid financial returns for property owners. 
The unit market has continued its softening, with the market contracting 2.6 per cent over the past year.
The new annual median house price is $440,750, down from $452,500 a year ago. With more supply expected online over the next 12 months we expect this market will not firm up until mid-2019 at the earliest. 
The million-dollar club welcomed new entrants this quarter, with 18 suburbs claiming a median of $1 million or above, compared with 15 suburbs last quarter. This quarter solidified growth for the sole two-million-dollar club entrant of Teneriffe and its median of $2.6 million. 
<ol>
<li>Ascot: $1.52 million</li>
<li>Auchenflower: $1.09 million</li>
<li>Balmoral: $1 million</li>
<li>Bulimba: $1.26 million</li>
<li>Chelmer: $1.08 million</li>
<li>Clayfield: $1.15 million</li>
<li>Fig Tree Pocket: $1.18 million</li>
<li>Hamilton: $1.19 million</li>
<li>Hawthorne: $1.2 million</li>
<li>Hendra: $1.02 million</li>
<li>Highgate Hill: $1.14 million</li>
<li>Kalinga: $1 million</li>
<li>New Farm: $1.4 million</li>
<li>Paddington: $1 million</li>
<li>St Lucia: $1.27 million</li>
<li>West End: $1.13 million</li>
<li>Wilston: $1.15 million</li>
</ol>
 
At the current rate of growth, around 32 per cent over the past year, and if market conditions remain static, Teneriffe will be Queensland's first $3 million suburb and this will happen in the next 12 months. This is not a sure thing, but it is a possibility. 
Queensland has the highest proportion of first-home buyers, with these new property seekers making up about 20 per cent of the buying population, according to ABS lending data. 
The unit market in Ipswich is more volatile. The market has grown 5.8 per cent over the past 12 months, to an annual median of $329,000, however suffered a quarterly loss of 20.3 per cent, reflecting slowing demand. 
 
 
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jrobinson-rf4aSBido9

Beachfront markets lead Queensland price growth surge: REIQ

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South East Queensland’s affordability is attracting record levels of interstate migration along with investors and first home buyers, says property expert John McGrath in his Switzer blog.
The housing market continues to produce solid results despite a sluggish economy, said the recently released McGrath Report 2018.
Brisbane’s median house price increased by 3.0% to $520,000 in the 12 months to June 2017, CoreLogic data shows. The apartment market was a different story, with its median price falling 2.4% to $410,000, reflecting the inner city oversupply.
But Brisbane’s housing affordability compared to Sydney and Melbourne is its main calling card for home owners, investors and first home buyers alike.
“A significant price gap between the cities will underpin rising demand over the next few years,” writes McGrath.
Queensland also has the strongest first home buyer market in Australia, with loans to first time buyers hitting a high of 20% of all owner occupier loans in June – the highest proportion since 2009, according to data from Domain.
Earlier this year, the state government had extended the $20,000 First Home Owner Grant Boost to December 2017 for the purchase of new homes up to a value of $750,000. About 4,900 applications have been received for the grant so far, according to the state government.
McGrath also said his agency’s agents are reporting far more interest from Sydney and Melbourne investors this year.
“Brisbane's prospects for capital growth, plus superior rental yields of 4.1% for houses and 4.9% for apartments, continues to make it an attractive option for investors,” he writes.
South East Queensland has become a major hotspot for internal migration, according to the Australian Bureau of Statistics (ABS).
Queensland welcomed 11,581 new interstate residents in the year ending June 2016 – a marked increase on 6,417 the year before. In addition, Brisbane recorded its highest internal migration in at least a decade.Among regional centres, the Gold Coast and the Sunshine Coast led the country with 6,428 and 6,200 new residents respectively.
In fact, Gold Coast’s internal migration was the highest ever recorded by the ABS since they began this data series in FY07. Compared with FY15, the Gold Coast’s internal migration was up 39%.
“We see a once in a lifetime opportunity for young families to transform their lives with a move to South East Queensland. The massive new equity that home owners in Sydney and Melbourne have gained could buy them an amazing new lifestyle and far less mortgage stress,” writes McGrath. 
The 2018 Commonwealth Games (GC2018) in Gold Coast is also expected to inject billions of dollars into the economy, with 6,600 athletes and officials and 100,000 visitors attending the event and a global TV audience of more than 1.5 billion anticipated to watch it.
The push to infrastructure due to the games, including the light rail, will boost the economy in the long term, and property prices are responding and increasing at a healthier rate than Brisbane, adds McGrath.
The median house price increased 7.3% to $620,000 in the 12 months to June 2017, according to CoreLogic data. The apartment market was significantly stronger than Brisbane's, with a median price rise of 5.1% to $415,000. 
On the Sunshine Coast, major new infrastructure projects are also driving the property market. Among them is the redevelopment of Maroochydore city centre; the expansion of the Sunshine Coast Airport; and a new business, technology and retail precinct adjacent to the University of the Sunshine Coast.
Median house prices in Sunshine Coast increased 5.1% to $552,000 in the 12 months to June 2017, while its median apartment price increased 3.4% to $390,000.
In conclusion, McGrath says that South East Queensland remains “the most compelling market in the country for both investors and young families”.
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jonathanchancellor-7SQnKwU6yx

Affordability is South East Queensland’s drawcard: John McGrath

<html><body>
The number of first home buyers in Queensland grew in double digits in the year to June 2017, reaching the highest number in seven years, new data from Bankwest reveals. 
The number of first time buyers (FTBs) in the state rose by 11.2% in the year to June 2017 to 22,465, a new report from Bankwest reveals. This was the strongest growth in the nation during the reporting period, it said.
Meanwhile, there was a drop of 1% in second time buyers and investors in the same period.
FTBs account for 17.4% of dwellings purchased in Queensland in the year to June 2017, up 1.6% compared to 2016. 
These findings are part of the 2017 Bankwest First Time Buyers Report.
<a href="https://www.propertyobserver.com.au/images/2017/12/1/QldMostTime.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/12/1/QldMostTime.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/12/1/QldLeastTime.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/12/1/QldLeastTime.png" alt="">
Bankwest general manager personal and small business banking, Donna Dalby said Queensland’s FTBs have been responding to a number of factors. 
“The strong growth in first time buyer numbers is largely a result of relatively affordable housing in the sunshine state, as well as the extension of the $20,000 home owners grant for new homes until December 31, 2017,” said Dalby. 
“Whats more, with the benefit of being able to see the latest ABS data, we know this growth has continued, with the number of Queensland first time buyers increasing by 15.0% in the year to August 2017 to a total of 23,315,” she said. 
The time need to save for a deposit is also less compared to the other East Coast states.
FTB couples will need to save for an average of just 4 years for a $92,240 deposit on a median priced house, on par with 2016 (3.9 years) and below the national average of 4.6 years. 
This saving time is also well below New South Wales (6.0 years) and Victoria (5.4 years). 
At a city level, Brisbane FTBs will need to save for an average of 4.5 years for a deposit on a median priced house, in line with 2016 (4.4 years) and below the capital city average of 4.9 years. 
While most FTB couples will be looking to get a house as quickly as possible, those in no hurry could look to try to buy in Queensland’s Noosa area. 
FTBs there will require an average of 6.3 years - the only area in Queensland to need more than six years - to save a median deposit of $127,895, making the area the least accessible in the state. The saving time here rose by seven months YoY, driven by a 13.6% increase in house prices. 
A four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-blackall-124098898" target="_blank">9 Gidyea Street</a> (picture above) in Blackall sold for $190,000 in October 2017.
A four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-blackall-123984470" target="_blank">63 Garden Street, Blackall</a> sold for $185,000 in August 2017. It previously sold for $160,000 in 2011, according to CoreLogic data.
<img src="https://www.urban.com.au/images/2017/12/1/Blackall2.png" alt="">
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Number of FHBs at their highest in seven years in Queensland: Bankwest

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An oversupply of apartments in Queensland, and particularly Brisbane, has made developers offer discounts to sell off old stock.
Many suburbs have seen negative growth in the last five years, as borne out by recent CoreLogic data.
Two such suburbs are West End and Cornubia, where prices are being discounted 14.1% and 15.9% on average (see table below).  
<table border="0"><tbody>
<tr>
<td> Suburb</td>
<td> Vendor discount(%)</td>
</tr>
<tr>
<td> Berserker </td>
<td> -11.4</td>
</tr>
<tr>
<td> Coral Cove</td>
<td> -12</td>
</tr>
<tr>
<td> Cornubia</td>
<td> -15.9</td>
</tr>
<tr>
<td> Earlville</td>
<td> -11.2</td>
</tr>
<tr>
<td> Emerald</td>
<td> -11.7</td>
</tr>
<tr>
<td> Harristown</td>
<td> -11.1</td>
</tr>
<tr>
<td> Kirwan</td>
<td> -10.8</td>
</tr>
<tr>
<td> Mackay</td>
<td> -12.9</td>
</tr>
<tr>
<td> Manunda </td>
<td> -10.7</td>
</tr>
<tr>
<td> Mount Gravatt</td>
<td> -10</td>
</tr>
<tr>
<td> Mount Lofty</td>
<td> -13.6</td>
</tr>
<tr>
<td> Point Lookout</td>
<td> -11.9</td>
</tr>
<tr>
<td> Rainbow Beach</td>
<td> -10.1</td>
</tr>
<tr>
<td> Rockhampton City</td>
<td> -12</td>
</tr>
<tr>
<td> Rosslea</td>
<td> -12.7</td>
</tr>
<tr>
<td> West End</td>
<td> -14.1</td>
</tr>
</tbody></table>
A two-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-west+end-125457566" target="_blank">9/6-24 Henry Street</a> in West End sold in August 2017 for $215,000. It had sold for $320,000 in 2009, the year it was built, according to CoreLogic RP Data.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/30/WestEnd1.jpg" alt="">
Its on the market history shows that it was on sale for 442 days from November 2013 to January 2015 on a listed price of $289,000. Previous to that, it was on the market briefly in April 2012 for $299,000.
A three-bedroom unit at <a href="https://www.realestate.com.au/sold/property-unit-qld-west+end-123095714" target="_blank">38/6-24 Henry Street, West End</a> (picture above) sold in November 2016 for $315,000. It previously sold for $360,000 in June 2008, according to CoreLogic RP Data.
At <a href="https://www.realestate.com.au/property-apartment-qld-west+end-126445334" target="_blank">15 Bank Street West End</a>, a three-bedroom apartment spanning 270 square metre in The Aston Residences has a $50,000 furniture package on offer. Also included is interior-design consultation.
Not only that, developers are also offering rental guarantees to sell off unsold stock.
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Westend and Cornibia lead Brisbane locations where buyers find the biggest vendor discounts

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As a cricket tragic, I was thrilled a little over a year when we named our son Stanley, being in part a subtle or oblique reference to one end of the Gabba cricket ground in Brisbane (I felt a reference to the old Clem Jones stand - or even 'Sir Gordon Chalk'! - might have been pushing it...).  
There's been a tremendous amount of excitement in Brisbane this week as the English cricket team is in town to the play the first Test Match of the historic Ashes series.
The view of the Stanley Street End skyline today takes in many cranes, as well as the imposing $85 million Trafalgar Residences, a 20-storey apartment block at 855 Stanley Street (being a new development since the last time an Ashes test was played here). 
Looking back towards the opposite Vulture Street End of the ground, the television cameras picked up the apartments advertised for sale and for rent at 444 Vulture Street, where apartments are advertised for rent from $360/week for one bedroom units, and from $750/week and above for three bedders. 
At this stage of the construction cycle there's a risk of vacancy rates being understated as a single online advertisement can account for multiple new apartments.
The ubiquitous offers of rent-free periods for tenants, free internet (and so on) in Woolloongabba apartments reflect the clear weakness in the rental market. 
<a href="https://4.bp.blogspot.com/-itoxPPGm1ZU/WhhpS_l1dYI/AAAAAAAAnKI/hBj0N50WViseRcD2sqxmCuyVuHD7le_gACLcBGAs/s1600/Gabba1.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-itoxPPGm1ZU/WhhpS_l1dYI/AAAAAAAAnKI/hBj0N50WViseRcD2sqxmCuyVuHD7le_gACLcBGAs/s640/Gabba1.jpg" width="640" height="626" data-original-height="612" data-original-width="624"></a>
In a moment of wry amusement, even match commentator Damien 'Flemo' Fleming was moved to mention the glut of new building in the suburb, a rare yet curiously welcome departure from the discussion of Bowlology, the Fast Bowling Cartel, and heavy metal music!
<a href="https://1.bp.blogspot.com/-BwaK2bL-bhM/WhhpTYP9BVI/AAAAAAAAnKM/CXCbpcod3xwCNIMN83h-Q9pJqS4XiN2nwCLcBGAs/s1600/Gabba2.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-BwaK2bL-bhM/WhhpTYP9BVI/AAAAAAAAnKM/CXCbpcod3xwCNIMN83h-Q9pJqS4XiN2nwCLcBGAs/s320/Gabba2.jpg" width="640" height="318" data-original-height="658" data-original-width="1320"></a>
Avenue of apprehension
The new high-rise apartment market can be a risky one for buyers, in part because the apartments can lack uniqueness or scarcity value, and partly because the duration of projects can span several years from approval to completion, at which point the market can suddenly become swamped with new supply. 
This cycle has played host to Queensland's greatest ever apartment construction boom, eclipsing even the post-recession boom of the early 1990s, although far fewer houses have been built this time around.
<a href="https://3.bp.blogspot.com/-VjQ48qj4NHU/WhhqQDIpq8I/AAAAAAAAnKg/eyFCJfPOSPscNdjqj93ghMJRqPEMfBGNQCLcBGAs/s1600/A.jpg" target="_blank"><img src="https://3.bp.blogspot.com/-VjQ48qj4NHU/WhhqQDIpq8I/AAAAAAAAnKg/eyFCJfPOSPscNdjqj93ghMJRqPEMfBGNQCLcBGAs/s640/A.jpg" width="640" height="394" data-original-height="831" data-original-width="1347"></a>
As we have seen in Perth since 2014, the long lead times mean that by the time projects are completed demand may have slowed significantly.
In fact, until relatively recently Western Australia was seeing the number of new dwelling completions exceed the growth in headcount, as population growth had slowed so dramatically, resulting in a surge of rental vacancies and falling rents. The city of Darwin went down a similar path.
Queensland has suffered from this dynamic too, albeit to a lesser extent. The good news for Brisbane landlords is that the Queensland economy, employment growth, and thus the three components of demographic change (natural growth, net overseas migration, and net interstate migration) are now aligning to create faster population growth. 
<a href="https://3.bp.blogspot.com/-oqk7AYTwwy4/WhhqPgZCVuI/AAAAAAAAnKc/VKtFnrAI48s2-ZhHd6JsQEtpu2i0EQR_wCLcBGAs/s1600/A1.jpg" target="_blank"><img src="https://3.bp.blogspot.com/-oqk7AYTwwy4/WhhqPgZCVuI/AAAAAAAAnKc/VKtFnrAI48s2-ZhHd6JsQEtpu2i0EQR_wCLcBGAs/s640/A1.jpg" width="640" height="388" data-original-height="829" data-original-width="1363"></a>
Meanwhile new apartment commencements are slowing to a crawl, helping to rebalance the market over time.
The Brisbane apartment market is heading back towards equilibrium eventually, then, but 2018 will nevertheless be a splendid year for renters, especially in some of these inner-city unit markets. 
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pwargent-M4siyDbqQY

Apartment glut on the Gabba's skyline obvious even to the Channel 9 cricket commentary team: Pete Wargent

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Large lots with sweeping vistas are in favour with Gold Coast homebuyers, with some locals waiting up to a decade for the chance to move up to the latest Coomera Waters land release.
According to QM Properties general sales manager Damien Ross, demand for large lot release Quest has been exceedingly strong.
“Quest is one of the final land releases at Coomera Waters and certainly the highest, sitting at 130 feet above sea level and offering potential residents views to the Broadwater and the Hinterland,” Mr Ross said.
“The exclusive gated stage features just 42 lots, ranging from 1,355sqm to 4,599sqm and priced from the low $400,000s.
“The combination of large lots and spectacular views has helped drive enquiries, many of which have come from local residents who bought in the area up to 10 years ago and have been waiting for this part of the masterplan to be released.
“Quest is the jewel in the crown of Coomera Waters, offering both the space to create an architectural masterpiece as well as the exceptional backdrop of the Gold Coast skyline.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/20/Coomera1.jpg" alt="">
Coomera was identified as one of the areas most likely to remain a building hotspot in a recent <a href="https://hia.com.au/-/media/HIA-Website/Files/ShopHIA/Downloads/economics/Hotspots17.ashx" target="_blank">Housing Institute of Australia survey.</a> 
The Gold Coast City Council recently announced plans to update the city plan to allow for more small-lot developments across the coast.
“There’s definitely a need for both in the market however current demand does indicate a preference for larger lots, particularly amongst second and third homebuyers seeking a forever home,” Mr Ross said.
“We have also received a high level of enquiry from people looking to move into this booming region due to the upcoming infrastructure.
 “An $11 million school was announced for Coomera in this year’s state budget, and the $470 million dollar Westfield Coomera is expected to deliver 140 specialty stores and 7500 jobs upon opening its doors late next year.”
A range of home and land packages are available at Quest, architecturally-designed to make the most of the stunning views and priced from $695,000 to $1,250,000.
Civil works on Quest are currently underway and expected to be completed by February 2018. 
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Coomera Waters land release to cater for growing demand for large lots

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ASIC has obtained orders from the Supreme Court of Queensland appointing Mr Michael McCann of Grant Thornton as a provisional liquidator to five companies within the Benchmark Private Wealth Group. These are:
1.       Benchmark Private Wealth Pty Ltd;
2.       Benchmark Wealth Property Services Pty Ltd;
3.       Benchmark Private Wealth Holdings Pty Ltd;
4.       OSK Developments Pty Ltd; and
5.       Young Corporation (NSW) Pty Ltd.
ASIC applied for and obtained the orders on an ex parte basis as a part of an ongoing investigation into the Benchmark Private Wealth Group.
ASIC sought the orders due to solvency concerns about the companies and about their management by the director, Liam Young.
ASIC is also concerned about transactions entered into with a number of other companies which were a part of the Members Alliance Group and the director of those other companies, Richard Marlborough. 
Marlborough headed the Members Alliance Group.
Liam Young was once a lawyer at the Australian Securities and Investments Commission.  <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/11/21/BENCHMARK.jpg" alt="" style="font-size: 12.16px;">
The orders require the provisional liquidator to provide a detailed report to the Court within 45 days that sets out, among other things, the financial position of each of the companies so the Court can consider whether it ought to make orders to wind up the companies.
The orders were made on 3 November 2017. No future court date has been set.
The Members Alliance Group was a group of companies operating on the Gold Coast which went into external administration in July 2016.
On 13 July 2017, Jason Bettles and Raj Khatri of Worrells themselves sought and obtained orders from the Supreme Court to be replaced as liquidators of a number of Members Alliance Group companies by Michael McCann of Grant Thornton.
Like the Members Alliance group, Benchmark spruiked house and land packages.
The Members Alliance Group operated a range of businesses, primarily throughout Queensland, including but not limited to, financial services, project marketing, construction and management and letting rights
Commencing Friday, 22 July 2016 the directors of the MAG placed certain entities within it into voluntary administration and liquidation with Jason Bettles and Raj Khatri (the “Former Liquidators”).
They were replaced by McCann.
McCann recently advised the earliest records obtained for MAG are as at July 2015 "at which time it appears that the company was insolvent as it was incurring recurring losses, was balance sheet insolvent and did not appear to have any ability to discharge its debts." 
The liquidator of 18 Members Alliance companies has sent a report to the Australian Securities and Investments Commission raising concerns about how the group ran up a $29 million debt to the Australian Taxation Office. 
The ATO and ASIC are part of the Phoenix Taskforce investigating Members Alliance.
 
 
 
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ASIC acts to appoint provisional liquidator to Liam Young's Benchmark Private Wealth companies

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GUEST OBSERVER
Queensland election campaigns often focus on big projects for the regions, such as for roads, power plants and mines. But research suggests that mega projects, such as in gas and coal, have not transformed skills or improved employment prospects in regional Queensland.
Take away the temporary booms from construction and other short-term jobs, and employment growth overall is no better than before the global financial crisis. Certainly Queensland’s regions are no more resilient. Instead of these mega projects, what’s needed are new sources of economic value in knowledge, services, and technology.
Between 2010 and 2013 investment in coal mining surged 400% in the Bowen Basin. Further south, in the Surat Basin and at Gladstone, four international consortia spent more than A$70 billion fast-tracking a coal seam and liquid natural gas industry.
These projects fell far short of generating new skills and enduring businesses in the regions. Continuing dependence on resources and agriculture also creates its own vulnerabilities, as both are challenged by market and investment volatility, and increased climate risk.
Overall the focus on mega projects has weakened social and economic resilience in communities across Queensland. Resilience refers to the capacity of regional communities to handle risks and manage change. Resilient regions deepen and diversify their economies.
Megaproject sugar highs
Annual construction spending in the resources sector peaked at A$36.6 billion in Queensland in 2013-14, and has dropped by 70% since. Unemployment has doubled in Queensland’s northern, central and outback regions.
The impact is seen in Townsville, Rockhampton, and Gladstone, who are now pitching to become bases for “Fly In Fly Out” workers. Rather than drive their own local economic development, these cities are punting on the next big mining project.
Gladstone is already the pin-up of the construction boom-bust development model. The port city boasts a highly trained workforce in alumina and aluminium processing, cement, liquid natural gas and chemical manufacturing. Still, it waits on the next big mining construction boom.
What regional Queensland really needs is politicians to abandon short-term economic fixes, in favour of a sustainable long term vision. Policies would have greater impact if they focused on skills and enterprise training. Stronger regional collaboration to broker opportunities for smart businesses is essential.
Just north of Brisbane, Moreton Regional Council is showing the way by transforming a former industrial site into a university campus. Tertiary education will come to the fast growing region along with a research and technology park, creating the jobs of the future.
Regional Queensland can also learn from the European Commission’s “smart specialisation” structural assistance programs that help regions build knowledge-based competitive industries through strategic public funding and support for research and development etc.
By 2020, smart specialisation in Europe is expected to deliver 15,000 new products to market, 140,000 new startups and 350,000 new jobs.
Integral to the European strategy is strong collaboration between the research and university sectors, and regional industries. Strong cooperation between levels of government is key to the success. The industries are as varied as cheese manufacturing in Spain, new transport systems in Finland, and materials manufacturing in France.
The Europeans have found that changing business culture and boosting entrepreneurship are just as important to creating opportunity as large infrastructure projects.
What Queensland should do
Queensland should rethink its big projects for a big country approach. Regional jobs that depend on project investment without generating local income are not sustainable. Small business and community must be restored to centre stage in development strategy.
Small and medium businesses collectively account for more than 99% of all business in Queensland, and three times as many people work in the state’s A$20 billion manufacturing sector (169,000) as work directly in the resources sector (48,000).
But small and medium businesses lack the profile of the “big end of town”, and the large resources companies have been effective at selling the narrative that they are central to the A$300 billion Queensland economy.
The priority for developing Queensland’s regions should be investment that generates small business growth, local income, new skills and communities. Particular emphasis has to be given to attracting and retaining talented people.
The state government can best help regional Queensland by heeding the Productivity Commission’s call to help regional Australia adapt and exploit the opportunities of ever present change. This requires greater local initiative, making the most of competitive strengths, and training people to better engage with the world.
The global services sector is a $US47 trillion industry. For regional Queensland to tap into this sector will require skills in fields as diverse as big data, biotechnology, genetics, robotics, communications, and digital manufacturing.
A good start has been made in the Advance Queensland Regional Innovation Programs which have challenged regions to think outside the box, collaborate, and come up with their own strategies. It complements the federal government’s Building Better Regions Fund.
<img src="https://counter.theconversation.com/content/86622/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">This approach challenges the current politically dominated top down model of regional development. It’s a vision for regional Queensland that extends beyond resources, agriculture, tourism and construction to the people themselves.
John Cole, Executive Director, Institute for Resilient Regions, University of Southern Queensland.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/why-big-projects-like-the-adani-coal-mine-wont-transform-regional-queensland-86622" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Why big projects like the Adani coal mine won't transform regional Queensland: John Cole

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GUEST OBSERVER
Since October 2016, all foreign buyers and developers are subject to a 3% stamp duty surcharge on the acquisition of residential property in Queensland known as Additional Foreign Acquirer Duty (AFAD). The Commissioner has now updated conditions under which ex gratia relief from AFAD can be sought.
This relief is available to foreign persons, as defined in the Duties Act 2001, carrying out ‘significant’ residential development. Relief from AFAD may be granted by the Commissioner on a case-by-case basis. Foreign Persons must also meet regulatory requirements such as complying with the Corporations Act 2001 and complying with Queensland taxation laws. AFAD will only apply to the acquisition of residential land in Queensland by those who are either: 
<ul>
<li>a foreign individual - individuals without Australian citizenship or permanent residents (permanent residents include New Zealanders with either permanent visas or special category visas both defined by the Migration Act 1958 (Cth); </li>
<li>a foreign corporation - companies incorporated outside Australia, or Australian companies where at least 50% interest is with a foreign person/s or related person/s (ie relatives/spouse or partners in a partnership); or </li>
<li>a trust where at least 50% of its interests are held by a foreign person/s. </li>
</ul>
RESIDENTIAL LAND
“Residential land” is land that is or will be solely or primarily used for residential purposes. This includes established houses and apartments, vacant land where a home or apartment will be built, land for development for residential use (ie smaller unit block developments, housing subdivisions, and major developments with a residential component), and/or refurbishment, renovation, or extension of a building for residential use. 
“Residential land” does not include land that will be or is currently used for hotel and motel purposes. 
WHEN EX GRATIA RELIEF CAN APPLY
The Commissioner has announced a number of guidelines and conditions that will be taken into account when determining whether ex gratia relief from AFAD will be granted.
1. The foreign developer undertaking the transaction must be Australia based: 
In order to satisfy the conditions of AFAD relief, a foreign developer will need to use a range of factors to establish that they are ‘Australian based’, including:  
<ul>
<li>whether the foreign entity has a head office or principal place of business situated in Australia; </li>
<li>if the foreign entity has significant management staff and office presence in Australia; </li>
<li>whether its employees are Australian citizens or permanent residents; </li>
<li>any past business dealings within Australia; </li>
<li>the input that the foreign entity’s Australian management staff and employees have toward the operation of the foreign entity in Australia, and; </li>
<li>whether the foreign entity primarily engages with Australian building contractors and suppliers in construction work. </li>
</ul>
2. The foreign developer will need to have complied with any Foreign Investment Review Board (FIRB) requirements in relation to the acquisition of land.
3. The foreign developer must also meet regulatory requirements, such as complying with the Corporations Act 2001 (Cth) and complying with Queensland taxation laws.
4. The development must be significant, or the developer has significant development status.In order for relief from AFAD to apply, the development being carried out must be established as ‘significant development’. This condition will automatically be met if the foreign developer is commencing development or re-development of 50 or more residential lots.
In instances where fewer than 50 lots are being developed, such as in regional areas, the status of ‘significant development’ can still be established if the foreign developer is able to demonstrate that the development makes a significant contribution to the economy, population and social development of that region.
‘Significant developer’ status will also be satisfied if the developer will undertake development or redevelopment of 50 or more residential lots in a 12-month period or, alternatively, the developer averages 50 or more residential lots per year taken on average over a period of up to five years.
5. The foreign developer must primarily employ or contract Australian building contractors and suppliers to engage in the development. This requires that over 50% of the value paid by the developer for goods and services must be paid to Australian contractors and suppliers, or over 50% of the foreign developer’s employees for the development are Australian.
WHAT DO YOU NEED TO DO?
Foreign investors or developers looking to undertake significant development in Australia are able to apply for ex gratia relief from AFAD through the Commissioner. A statutory declaration must be lodged to the Office of State Revenue detailing the basis on which the foreign developer satisfies conditions for relief along with any supporting evidence.
By submitting a request for relief, a foreign developer will also be acknowledging their obligation to inform the Office of State Revenue within 28 days if it no longer satisfies the conditions for relief.
Paul O'Dea is a partner with ClarkeKann, Brisbane.
You can contact him <a href="mailto:p.odea@clarkekann.com.au" target="_blank">via email</a>.
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Where foreign buyers can seek relief from Queensland's added stamp duty surcharge: Paul O'Dea

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Tilers in Queensland have taken a 51 percent pay rise after falling significantly short of the national average 2016, with hourly rates nearly $10 below the national average at the end of the financial year.
Tilers now earn 7 per cent more than the national average at $59.25/hour, making them the best paid in Australia.
Overall tradies in Queensland have strongly benefitted from the housing construction boom with a 9 per cent rise in hourly rates over the past year.
In the last quarter alone prices have surged by 3 per cent according to new data released by find-a-tradie site <a href="https://api.autopilothq.com/anywhere/m?s=serviceseeking&amp;m=s_529e918c-4598-4618-aaef-25a26ef65b86&amp;u=e1jq4wvfdtfkeh9r890m4dht5n138hht5mu36d9j5mwkaha25mu34chq8cw3echh6ct48&amp;r2=d1u78w1u5wqq6tbjetmp6tbkcnjppubecwq66vvd5tgqa&amp;n=1">ServiceSeeking.com.au</a>.
So what can you expect to pay for a tradie over the upcoming months?
 
Tradies that have had the most growth this year:
<ul>
<li>Tilers are up by 51% to $59.93/hour</li>
<li>Builders are up by 17% to $72.93/hour</li>
<li>Painters are up by 9% to $48.11/hour</li>
</ul>
 
Landscapers and plasterers were not so fortunate, experiencing a drop in prices by 3% and 1% respectively.
 
Tradies that earn highest above the national hourly average:
<ul>
<li>Painters are 8% above national hourly average</li>
<li>Builders are also 8% above the national hourly average</li>
<li>Tilers are 7% above the national hourly average</li>
<li>Plasterers are 5% above the national hourly average at $50.93/hour</li>
</ul>
 
Tradies that fall below the national hourly average:
<ul>
<li>Carpenters are 7% below the national hourly average at $60.22/hour</li>
<li>Electricians are 6% below the national hourly average at $75.15/hour</li>
<li>Plumbers are 3% below the national hourly average at $82.64/hour</li>
</ul>
 
Hourly rates are “gross” rates and aside from including the cost of labour, also cover the cost of running the business including insurance, tools, work vehicles, insurance and superannuation.
The prices were derived by comparing a sample of 52,000 quotes submitted during the FY18 Q1 through <a href="https://api.autopilothq.com/anywhere/m?s=serviceseeking&amp;m=s_529e918c-4598-4618-aaef-25a26ef65b86&amp;u=e1jq4wvfdtfkeh9r890m4dht5n138hht5mu36d9j5mwkaha25mu34chq8cw3echh6ct48&amp;r2=d1u78w1u5wqq6tbjetmp6tbkcnjppubecwq66vvd5tgqabr&amp;n=2">ServiceSeeking.com.au</a>, the website for getting any job done.
 
<table><tbody>
<tr>
<td colspan="8">
Queensland Tradie Price Index
</td>
</tr>
<tr>
<td>
Industry
</td>
<td>
FY18-Q1
</td>
<td>
FY17-Q1
</td>
<td>
Yearly Change
</td>
<td>
FY17Q4
</td>
<td>
Quarterly Change
</td>
<td>
National Average FY18-Q1
</td>
<td>
% Diff on average
</td>
</tr>
<tr>
<td>
Builder
</td>
<td>
$72.93
</td>
<td>
$62.35
</td>
<td>
17%
</td>
<td>
$68.30
</td>
<td>
7%
</td>
<td>
$67.83
</td>
<td>
8%
</td>
</tr>
<tr>
<td>
Carpenter
</td>
<td>
$60.22
</td>
<td>
 $56.85
</td>
<td>
6%
</td>
<td>
$60.90
</td>
<td>
-1%
</td>
<td>
$61.28
</td>
<td>
-7%
</td>
</tr>
<tr>
<td>
Electrician
</td>
<td>
$75.15
</td>
<td>
$73.03
</td>
<td>
3%
</td>
<td>
$74.10
</td>
<td>
1%
</td>
<td>
$77.59
</td>
<td>
-6%
</td>
</tr>
<tr>
<td>
Landscaper
</td>
<td>
$56.00
</td>
<td>
 $58.00
</td>
<td>
-3%
</td>
<td>
$56.90
</td>
<td>
-2%
</td>
<td>
$54.16
</td>
<td>
3%
</td>
</tr>
<tr>
<td>
Painter
</td>
<td>
$48.11
</td>
<td>
$44.33
</td>
<td>
9%
</td>
<td>
$45.30
</td>
<td>
6%
</td>
<td>
$44.42
</td>
<td>
8%
</td>
</tr>
<tr>
<td>
Plasterer
</td>
<td>
$50.93
</td>
<td>
$51.41
</td>
<td>
-1%
</td>
<td>
$49.60
</td>
<td>
3%
</td>
<td>
$48.58
</td>
<td>
5%
</td>
</tr>
<tr>
<td>
Plumber
</td>
<td>
$82.64
</td>
<td>
$79.77
</td>
<td>
4%
</td>
<td>
$79.20
</td>
<td>
4%
</td>
<td>
$85.57
</td>
<td>
-3%
</td>
</tr>
<tr>
<td>
Tiler
</td>
<td>
$59.93
</td>
<td>
 $39.70
</td>
<td>
51%
</td>
<td>
$55.10
</td>
<td>
9%
</td>
<td>
$55.85
</td>
<td>
7%
</td>
</tr>
<tr>
<td>
Average
</td>
<td>
$63.24
</td>
<td>
$58.18
</td>
<td>
9%
</td>
<td>
$61.20
</td>
<td>
3%
</td>
<td>
$61.91
</td>
<td>
2%
</td>
</tr>
</tbody></table>
</body></html>

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