Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Queensland

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From 1 December the Queensland housing market will start to look less like a serious player in the world market and more like Hazard County (of Dukes of Hazard fame), the prominent Queenslander property commentator Andrew Winter wrote in his weekend News Ltd column.
It is the date the recent legislation comes into force against auction price guidance.<a href="https://www.goldcoastbulletin.com.au/opinion-priceguide-ban-set-to-hurt-queensland-real-estate/story-fnj90t7b-1227115675200" target="_blank"> He says the banning of price guides for properties</a> to be auctioned defies common sense and could drive buyers away.
"I do feel I have to share this example of bureaucratic madness with all of you across the land.
"Sadly there are many examples where common sense, logic, even fairness seem to have been forgotten in the pursuit of some hair brained, ill conceived concept.
"It will become illegal for agents to sell a home by auction and list a price guide of any type.
"But that is not the real shocker here.
"Guess what — real estate agents, who are paid to sell and negotiate, will be banned from even discussing prices, seller’s expectations, or even what a home sold for down the street.
"If they even mutter a hint they will be fined and the regulatory body is even sending out people to real estate agent offices to warn them.
"So no matter how keen you are to buy, no matter how much you beg, email or phone, agents risk their license and fines if they tell you.
"Have you ever come across anything else more stupid? 
"If agents cannot give a price guide, what is stopping the seller putting a poster on their wall stating a guide if they want to?"
Andrew Winter, <a href="/expert-insights/building/audiences-sold-on-andrew-winters-selling-houses-australia-with-record-ratings">who settled in Australia following a successful UK television career </a>in the UK said: "Queensland, this is a joke!"
"This legislation is all about excessive control," he sai.
<a href="/news/qld/dark-ages-descending-on-queensland-as-auction-price-guide-ban-defies-common-sense-john-mcgrath">Sydney agent John McGrath was the major opponent</a> of the REIQ-supported legislation which passed the parliament with minor concessions to applease the News Ltd website, realestatecom.au pricing platform.
"Come on Queensland, you surely have been sniffing the sun screen bottle too much," Winter jested.
"None of these crazy legislative restrictions exist in prime residential markets like the United States or United Kingdom and they cope quite well," he wrote.
</body></html>

jchancellor-FAypfDUnLy

Queensland's auction price guidance ban legislation is madness: Andrew Winter

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Moranbah is a story of risk and return.
In Queensland’s Isaac region, Moranbah is about two hours inland, south-west, from Mackay.
Sitting between Townsville and Rockhampton, Isaac Regional Council describes Moranbah as one of the youngest towns in Queensland.
<img src="/images/2014/11/06/mornabah%20nov%206%20one.jpg" alt="">
Source: Isaac Regional Council
This town isn’t just fuelled by mining - it was actually created specifically for mining, built by the Utah Development Company in the 1970s. In fact, it’s the indicative go-to example for property investors trying to explain risk and the fast cycles of atypical mining towns, particularly those reliant on coal.
It now has a hospital, medical centres, dental facilities, day care centres, primary schools, sporting clubs, a high school and shops.
But many residents have now moved out, taking advantage of the rising market and selling their long-time homes for high prices to yield-hungry investors.
The Centre for the Government of Queensland notes that at the 2006 census the population was 7,133.
“Moranbah's population increase reflects the frantic upswing in coal mining. At the 2011 census coal-mining accounted for 39.4% of Moranbah's working population,” their research explains.
The Goonyella and Peak Downs coal mines have been operated by BHP since 2001.
The fast uptick of population, demand for workers and a small localised property market quickly led to rental yields nearing 20% in 2012 - a staggering figure, given that Sydney investors often consider rental yields to be desirable when higher than 6% or 7%.
However, in 2012, Westpac labelled Moranbah as one of a number of ‘unsustainable’ one-industry townships.
Currently, SQM Research puts the gross implied rental yield for houses and units in the area at sub-8%. Their vacancy rate statistic is at 6.4% for Moranbah. In 2011 it was sub-1%.
What happened?
A <a href="/news/qld/moranbah-and-port-hedland-unsustainable-single-industry-mining-boom-hotspots-westpac">rental freeze hit the market in 2012</a>, mainly driven by the rise of fly in, fly out (FIFO) workers.
Moranbah airport passenger numbers:
<img src="/images/2014/11/06/mornabah%20nov%206%20two.jpg" alt="">
Source: Crawford Property Group
Recently, there has been a call for the working mining population to become 100% FIFO, stopping many tenants from driving in and out from other local mining areas that are also popular for investors.. This would destroy the requirement for high priced rentals in surrounding area, also often owned by investors, altogether. The proposals also included the suggestion of larger worker camps, that would also take the pressure off of rents in the area.
Unsurprisingly, <a href="/news/100-fifo-concept-slammed-by-moranbah-investors">investors came out in force against the concept</a> with petitions against 100% FIFO.
Terry Ryder, founder of hotspotting.com.au, said earlier this year that the use of FIFO workers removes pressure on local rents and prices.
“There are all kinds of negative impacts of this – and this is what a recent federal inquiry looked at – but rising rents and prices is not among them,” he said.
“The BMA (BHP-Mitsubishi Alliance) plan to have 100% FIFO workers on two new mines in the basin has all kinds of impacts on towns like Moranbah, but they don’t include pushing up property prices because none of the FIFO people live in the town.
“Moranbah rents and prices are falling right now, with residential vacancies up around 7%. In nearby Dysart, vacancies are approaching 15% and rental yields, previously above 10%, are now down around 5%.”
The 100% FIFO debate for Moranbah is still playing out, and will be closely watched by investors.
In October, the Daily Mercury reported that opposition Leader Annastacia Palaszczuk said in parliament that 100% FIFO practices are "discriminatory". Mining Australia has also reported claims that a 100% FIFO workforce would “kill” the town.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Despite the downturn, last year Moranbah was back on the hotspot radar once again. Issue 10 of the Positive Property Report, from Crawford Property Group, was calling it a “new boom” for the "boom town".
The report said that it is “supercharged” by its proximity to the largest number of active coal mines in the country, and “poised for the biggest property boom in its history, with $15 billion in infrastructure projects planned … within a 60 kilometre radius of the township.”
It notes that rents increased 91% over the year to the 2013 report, with values climbing 34%.
Calling it one of the leading FIFO townships in Australia, the report notes that the forecast population is expecting an increase of 47% by 2018 with 265 dwellings needed each and every year over the five years to 2018.
Ryan Crawford told Property Observer in 2013 that <a href="/news/rebounding-regional-areas-identified-karratha-derby-and-moranbah">once it goes through its low period, it will repeat its historical growth patterns</a>.
<blockquote>
Despite the downturn, last year it was back on the hotspot radar once again.
</blockquote>
But Ryder, in 2013, said that while he expected it to revive, he thought it would <a href="/expert-insights/investing/mining-town-moranbah-will-revive-but-may-never-return-to-dizzy-heights-terry-ryder">never again reach the dizzying heights seen over the past few years</a>.
It seems there’s potential if some of these issues play out in investors’ favour.
Recently though, pain has most certainly been felt in this market.
Property Observer looked at all 25 sales recorded on RP Data for Moranbah in the six months from May 2014 to October 2014. Eight of these had no pre-purchase records or were development block sales.
Of the remaining 17, 10 made losses.
Here are the losses that were made for 10 individual properties (from highest to lowest), and how long they were held for:
<ul>
<li>$528,000 (held for less than two years) 
</li>
<li>$336,200 (held for three years) 
</li>
<li>$320,000 (held for two and a half years) 
</li>
<li>$215,000 (held for six years) 
</li>
<li>$170,000 (held for more than five years) 
</li>
<li>$155,000 (held for 11 years) 
</li>
<li>$154,900 (held for six years) 
</li>
<li>$105,000 (held for six years) 
</li>
<li>$30,000 (held for 10 years) 
</li>
<li>$11,000 (held for almost 10 years)</li>
</ul>
In total, the losses came to $2,025,100 for these property owners, or an average loss of $202,510 for those that fell on this list of 10.
Two transacted for their same selling price (both just a few months after purchase). Five transactions did record gains.
These were the gains (from highest to lowest):
<ul>
<li>$198,979 (held for 18 years) 
</li>
<li>$179,000 (held for 6 months) 
</li>
<li>$120,000 (held for 5 years) 
</li>
<li>$118,500 (held for 10 years) 
</li>
<li>$100,000 (held for three months)</li>
</ul>
In total, these gains add up to $716,479.
Looking at all 17 transactions on this list, the average loss comes to somewhere around $75,000 with a median loss of $30,000.
In Moranbah, even holding the property for a long period of time doesn’t guarantee a success, although it does seem to reduce some of the effects of a downward spiral.
Below are the changes in RP Data's median house price in Moranbah:
<img src="/images/2014/11/06/mornabah%20nov%206%20three.jpg" alt="">
The current median house price is $351,000, at the peak it was $745,000.
When searching through listings portals, property is available anywhere from $900,000 to $95,000 in the town.
Property Observer looked at Moranbah the same time last year revealing that the<a href="/news/suburb-spotlight-moranbah-mining-bust-felt-heavily"> bust has been felt heavily</a>. It seems the same still applies, with many issues still yet to wash through the market.
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jduke-EHk3XBmHkn

Moranbah: The classic example of mining town risk v return

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The most recent Real Estate Institute of Queensland (REIQ) statistics show that rental markets remain tight, with south-east Queensland’s Logan and Ipswich becoming strong rental hotspots for investors.
REIQ CEO, Antonia Mercorella, said that the latest Residential Rental Survey, conducted at the end of September, found that just four of Queensland’s 16 major regions recorded significant changes in vacancy rates.
She noted that this is evidence of a two-tier residential rental market across the state.
“Logan and Ipswich are emerging as the south-east’s rental hotspots as tenants move further afield from inner-Brisbane in search of more affordable rents,” Mercorella said.
“For the rent you’d pay for a three-bedroom house in Brisbane, you can get a four bedroom house in Brisbane’s outlying areas for up to $65 less a week.”
She noted that, for this reason, Logan and Ipswich are now very tight rental markets with the lowest vacancy rates in the Greater Brisbane region.
By the close of September, Brisbane City LGA recorded a 2.3% vacancy rate, relatively stable since the end of June.
“Brisbane’s middle to outer suburbs – those 5-to-20 kilometres from the CBD - recorded a slight easing in vacancy levels, up 0.2% to 2% at the end of September,” she said.
“The city’s inner suburbs, on the other hand, recorded a vacancy level of 2.9%, down from 3.4% at the end of June.”
The Residential Tenancy Authority’s records of median weekly rents for the September quarter also noted relatively steady rents across the LGA, with greater Brisbane returning to a vacancy rate seen 12 months ago – 1.7%.
“Vacancy levels in the Moreton Bay and Redland City council areas remained relatively steady over the three months to September, with both recording 1.8%,” she said.
“While not quite as tight as Logan and Ipswich, strong investor activity and tenant demand are setting the scene for competitive rental markets in both LGAs.”
Logan City’s vacancy rate currently sits at 1.5%, with Ipswich City at 1.6%, both down 1.4%.
Picture courtesy of Wikimedia Commons/Clarebear/ <a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">CC BY-SA 3.0</a>.
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Logan and Ipswich emerge as south-east Queensland rental hotspots: REIQ

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GUEST OBSERVATION
While Australian insurers are making hundreds of millions of dollars in profits, many North Queensland retirees are struggling to pay their strata insurance premiums. Locals say that insurance premiums for strata title unit buildings have risen 200-800% since tropical Cyclone Yasi. Many retirees are struggling to remain in their homes. 
The Insurance Council of Australia (ICA) recently put out a media release to stress that insurers aren't gouging their customers and that the pricing of insurance in Northern Queensland is reasonable. They need to take a look at the Change.com petition '<a href="https://www.change.org/p/help-north-queenslanders-get-fair-and-affordable-insurance-premiums" target="_blank">Help North Queenslanders get fair and affordable insurance premiums</a>'. On it they will find 83 year old retirees complaining that they cannot pay their bills as a result of insurance premium increases, others complain of strata insurance premiums quadrupling to $32,000 per annum and in one building 30% of owners say they are unable to pay the levies due to increased premiums.
To add insult to injury, the ICA also wants international competitors, who are expected to offer cheaper cover, to be locked out of the North Queensland market. Perhaps we should expect as much from an industry association committed to protecting its members’ financial interests. It takes guts to argue for maintaining the status quo but the ICA is defending an industry that has been condemned in the US for using unethical strategies to take advantage of their trusting clients for over 20 years now.
When a catastrophe hits, home owners and businesses expect their insurer to deliver on their promise to help them get back on their feet after a loss. Unfortunately most Australians would be unaware that since the 1990s, insurers have implemented strategies to maximise their profits by consciously deterring their customers from obtaining their legitimate entitlements. They do this by deliberately "low-balling" or discounting their clients’ claims or denying their insurance claims altogether.
These strategies, developed by professional management consultants, came to light in the US case of Hager v Allstate Insurance. Lawyers for Ms Hager alleged that Allstate Insurance offered claimants a simple choice when they made a claim: they could chose a gentle hand by complying and accepting a low ball offer or if they didn’t want to accept the offer, they could expect a blow from a fisted glove, in the form of years of protracted and expensive litigation.
This miserable strategy relies on the fact that most inexperienced claimants will drop off if their claims are denied or discounted as they do not have access to advice or have the resources to maintain a battle with their insurer.
So if you accept a pittance, then your claim will be processed promptly, otherwise you may fight for years. Here, you are likely to need lawyers to fight for what is rightfully yours.
It’s a simple plan that makes perfect sense to management consultants, but it goes against the principles of trust and faith upon which insurance was once based. Today, instead of paying out in good faith, insurance companies want to hang on to your money as long as they can so they can earn more profit on it.
The problem for retirees in North Queensland and for claimants around the nation is that the insurance industry is an extremely effective lobbyist and it has been extremely successful in looking after its own interests, often at the expense of its customers. Apart from employing lawyers to enforce their rights, there are few legislative protections for claimants.
Queenslanders deserve better than this. Because strata owners are forced to insure their property under state law, both state and federal governments have a duty to legislate to protect their citizens.
The proposal of the Commonwealth government to open up the market for strata insurance to appropriately qualified overseas insurers is a good one. But in addition, the federal government should monitor premium increases and demand that insurers explain why areas that have not been affected previously by flood or cyclone are being subjected to the massive increases in premiums.
George Newhouse is a leading human rights advocate and disaster insurance recovery department manager with <a href="https://www.shine.com.au/" target="_blank">Shine Lawyers</a>.
George was the Labor Party candidate for the seat of Wentworth at the 2007 federal election.
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po-LsXgBTHBmX

The government must step in to fix North Queensland's strata insurance crisis

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Gerard Smith Design took home three awards at the first ever National Building Design Awards last week.
River House, in the Sunshine Coast, won  National Building Design of the Year, Best Residential Interior Design and Best New Residential Design for homes with a construction cost over $1 million.
According to Smith, the house's natural surroundings were a central focus of the home's design.
"Our objective was to incorporate natural products and complement the natural landscaping on the exterior of the home, which formed the inspiration for the palette of materials and colours used throughout the interior," said Smith.
The house's interiors feature polished concrete, natural stone tiles, hardwood timbers and wool carpet.
"We used these materials in the joinery to work in harmony with the other natural materials in the home and with the natural environment," he said.
The home's design takes full advantage of its waterfront position, with water views available through the living space upon entry. The open living space offers views to the pool, landscaped courtyard or river from every position.
On the upper level there is an expansive master bedroom, complete with walk-in-robe, concealed kitchenette and parents' retreat area.
The ensuite includes a raised bath overlooking the water, while a wraparound balcony also delivers river views.
The the merits of entries in the National Building Design Awards were considered in terms sustainability, success as a design solution, relationship of internal and external spaces, utility, quality and balance of internal and external aesthetics.
Grand Designs host Kevin McCloud, who presented the awards, called River House "a delightful and triumphant design".
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jrichardson-uRX5hFdKfN

Sunshine Coast's River House wins big at inaugural National Building Design Awards

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Earlier this year, Brisbane's cost of living was reported among the world's highest at 13th, based on a survey by Expatistan – a group that analyses world-wide cost of living data.
In terms of our capitals, Brisbane came in second, behind Sydney (11th); while Melbourne placed 18th, Perth 24th, Adelaide 25th and Canberra 26th.
Yet if we break out housing – a major component of the variables measured in the survey – Brisbane's housing price points may surprise many.
The fact is that the majority of home sales taking place across Brisbane are for a price tag of less than $400,000.
And a similar trend exists across most other Australian capitals as well, including Sydney and Melbourne – also in our regional centres.
While the perception may be otherwise, the reality is that most dwellings sold Australia-wide are for less than $500,000. A third sell for prices under $350,000.
When it comes to buying property, knowledge of location price points can be helpful for investors in terms of making better property choices and maximising future investment returns.
That's because knowing how many sales take place in a particular area and price category, can provide an indication as to how long a property might take to resell; and how much future promotion and resources might be required to achieve that sale.
Price points – along with other key criteria such as value, design, site, supply and demand – are something that investors really should pay more attention to, rather than generic price growth alone.
Another way of looking at price points is to visualise the market as being shaped like a pyramid, where sales volumes are diminishing as prices rise.
The point being that in general, the more you pay for a property, the fewer buyers there are to resell to in the future.
That's not to say that the top end housing market has not seen growth across Australia.
Today, one in 10 of our homes achieves over $1 million on sale, up from 3% 10 years ago.
And one in fifty homes sells for over $2 million, up from 0.7% a decade ago.
In Brisbane, these are the latest dwelling price points:
<ul>
<li>Under $400,000 – 38%</li>
<li>$400,000 to $600,000 – 39%</li>
<li>$600,000 to $800,000 – 13%</li>
<li>$800,000 to $1 million – 6%</li>
<li>Over $1 million – 4%</li>
</ul>
Investors, especially those just starting out, would be wise to consider buying property in the larger price brackets. The old adage of safety in numbers does apply.
It's important to remember, too, that price movement is not necessarily uniform across a market. Some price points move more than others and will change, depending on the position of the market in the property cycle.
Currently, in Brisbane's recovery market, here's what we are seeing:
<ul>
<li>Properties priced below $350,000 have seen a 12% lift over the past three months</li>
<li>Those priced $500,000 to $1 million have increased more than 30%</li>
<li>And sales over $1 million are up an impressive 43%.</li>
</ul>
 Visit Michael's <a href="https://matusik.com.au/" target="_blank">website</a>, read his <a href="https://matusik.com.au/missive/" target="_blank">blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank">Facebook</a> and <a href="https://twitter.com/michaelmatusik" target="_blank">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" target="_blank">LinkedIn</a>.
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michaelmatusik-49YzLvdmNv

Forget generic price growth: it's time to take a closer look

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Guest observation
At 14.7%, the Brisbane CBD vacancy rate has never been this high.
It is the highest in Australia except for the Gold Coast at 15.0%.
<ul>
<li>A further 191,000 sqm is being built 2014-16</li>
<li>The largest project is 1 William Street</li>
</ul>
The math:
<ul>
<li>Now vacant: 321,000 sqm</li>
<li>Being added: 191,000 sqm</li>
<li>Total: 512,000 sqm</li>
<li>Average demand per annum: 40,000 sqm            = Supply for 12 years</li>
</ul>
Brisbane Office Market
Currently there are some 400 office suites available for lease in the Fringe area, compared with 320 in the CBD and almost 3,300 in greater Brisbane.
The office market has been hit by the worst demand shock in 30 years. It will take time to replace the lost demand from the public sector and coal and LNG industries.
Lower rents and population growth will eventually restore the market.
Brisbane Industrial Market
Last year was the strongest year for sales numbers in five years, with 377 sales in total.
The Gateway region north and south of Brisbane River account for almost a quarter of all sales and include most of the higher value properties.
Outside of Gateway, the South accounts for 36% of all sales by number.
Linda Phillips is the national research manager of Propell National Valuers.
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Brisbane CBD vacancy rate hits new high

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A pick up in Queensland is being widely predicted, and SQM Research’s Louis Christopher expects 4% to 7% price rises for 2015.
However, there are still a number of properties in the state with strongly discounted homes.
Here are SQM Research’s top five vendor discounted properties in Queensland.
<a href="https://www.domain.com.au/property/for-sale/townhouse/qld/morayfield/?adid=2011132763" target="_blank">15/35 Kenneth Street, Morayfield</a>
<img src="/images/2014/10/15/d1.jpg" alt="">
Type: Townhouse
Current asking price: $239,000
Initial asking price: $340,000
Discount: 30%
Days on market: 169
<a href="https://www.homesales.com.au/buy/19-aminya-street/hs562185.aspx" target="_blank">19 Aminya, Coochiemudlo Island</a>
<img src="/images/2014/10/15/d2.jpg" alt="">
Type: House
Current asking price: $329,000
Initial asking price: $465,000
Discount: 29%
Days on market: 1,462
<a href="https://www.domain.com.au/property/for-sale/house/qld/west-end/?adid=2010559610" target="_blank">8 Stagpole Street, West End</a>
<img src="/images/2014/10/15/d3.jpg" alt="">
Type: House
Current asking price: $850,000
Initial asking price: $1,200,000
Discount: 29%
Days on market: 455
<a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/rural/properties/18022" target="_blank">87 Coondooropa Drive, Macleay Island</a>
<img src="/images/2014/10/15/d4.jpg" alt="">
Current asking price: $489,000
Initial asking price: $689,000
Discount: 29%
Days on market: 1,757
<a href="https://www.domain.com.au/property/for-sale/house/qld/narangba/?adid=2011192941" target="_blank">713 Old Gympie Road, Narangba</a>
<img src="/images/2014/10/15/d5.jpg" alt="">
Type: Land
Current asking price: $319,000
Initial asking price: $449,000
Discount: 29%
Days on market: 134
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Despite predicted Queensland pick up, top five properties discounted by 26% plus

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Brisbane's most expensive property at weekend residential auction was in a sprawling Queenslander in Hawthorne, in Brisbane’s inner east.
The substantial 1930s-built six-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-hawthorne-117851011" target="_blank">24 Forbes Street</a> sold through McGrath Bulimba for $1.3 million, according to APM.
The 1930s house last sold for $1.14 million in 2008 and prior to that in 2001 for $520,000.
The vendors sought $1.35 million on its 2011 listing.
It was rencetly available for rent at $950 a week reflecting a yield of 3.8%. The asking rental was $1000 in 2012 and $1250 in early 2013. 
The median weekly rental in Hawthorn is $628.
According to RP Data, the median house price in Hawthorne is $1.05 million and growth in value was pegged at 27% in 2013.
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andreadixon-oif3j7eKne

Hawthorne Queenslander tops Brisbane sales

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Queensland-based Sunland Group has spent $61 million to secure one of the most significant parcels of undeveloped land in the heart of the Gold Coast, the Lakeview site at Mermaid Waters.
The mostly vacant 42 hectare holding, with some retail presmises, was once the short-listed site for the Gold Coast’s convention centre. 
The Lakeview site, located on a corner at the intersection of Bermuda Street and Nerang-Broadbeach Road, is part of a portfolio being sold by the Sydney-based Scheinberg family.
The Scheinberg family’s Mermaid Waters parcel was acquired 42 years ago as part of a 202 hectare dairy farm buyout negotiated by the legendary Gold Coast real estate identity, Max Christmas.
It features a man-made lake.
It comes with preliminary approval  for an integrated mixed-use project comprising 1425 apartments and 37 waterfront residential lots.
Approved building heights range from three to 10 storeys, along with a commercial/retail component of up to 24,000 square metres.
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