Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more internation and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

Stamp Duty

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<div class="cq-article-content-paras section">
National
New withholding regime applies to foreign resident vendors. For property transactions of $2 million-plus, purchaser must withhold 10 per cent of price unless vendor shows a clearance certificate from the ATO.
FIRB application fees will be indexed for CPI.
Victoria
Foreign buyers will pay 7 percent additional stamp duty on residential property, up from 3 per cent. 
The government has increased the variable rate for the Fire Services Property Levy (FSPL) on industrial property by 11 percent and commercial property by 6 percent. The variable rate for the FSPL on vacant land will rise 240 percent.
Queensland
First Home Buyers Grant to increase from $15,000 to $20,000.
Foreign investor changes do not come into effect until October 1.
NSW
Foreign buyers of residential property pay additional stamp duty of 4 percent on transactions from 21 June, 2016. Separate 0.75 percent land tax surcharge on residential real estate owned by foreigners starts in 2017 land tax year (January). Foreign investors no longer entitled to 12-month deferral for the payment of stamp duty for off-the-plan purchases of residential property. Foreigners lose tax-free threshold for land tax surcharge.
Mortgage duty abolished.
Duty on the transfer of business assets or a declaration of trust over "business assets" (other than land) will be abolished from July 1, 2016.  This will mean that when buying retirement villages, value will need to be apportioned between the land and business assets.
WA
No changes
SA
Stamp duty concessions of up to $15,500 apply for eligible purchases of off-the-plan apartments (effective from June 20, 2016).
Tasmania
Stamp duty removed from land or asset transfers as part of business reconstruction.
ACT
Commercial rates: Average increase of 7 percent in 2016-17 with a fixed charge of $2235.
Commercial stamp duty: Reductions from 1.8 percent to 1.48 per cent for transactions up to $200,000; between 3 percent and 2.5 percent for $200,00 to $300,000; and reductions from 5.17 percent to 5.09 percent above $1.455 million.
Fire and Emergency Services Levy: A valuation-based charge will apply for commercial properties with progressive marginal rating factors applied to the average of the 2014, 2015, and 2016 AUV values.
General Insurance Duty: To be abolished.
Land Tax: Fixed component will rise by $100 and land tax calculation for multi-unit dwellings will be based on total AUV value of the land rather than individual AUV of the unit.
NT
50 per cent stamp duty discount for first home buyers of established homes valued up to $450,000 and capped at $10,000 thereafter.  This took effect on May 24, 2016, and will continue until June 30, 2017.
<h3> </h3>
</div>
<div class="cq-article-content-paras section">
For more information, go to the Property Council of Australia website <a href="https://www.propertycouncil.com.au" target="_blank">here</a>.
</div>
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jonathanchancellor-7SQnKwU6yx

Property 101: July 1 2016 new property taxes and charges

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The decision by the NSW government to add a four per cent stamp duty surcharge on residential property brought by foreign purchasers is playing on xenophobia, according to leading real estate agent Malcolm Gunning.
Gunning said the decision should be recognised for what it is, pure greed.  “The government has found a scapegoat in foreign investors and is playing on xenophobia.
"They are choosing to single out Chinese investors when the real reason house prices are being pushed up is self funded retirees who are purchasing properties for their super funds,” Mr Gunning said.   The surcharge came into effect on 21 June, 2016 and the government also announced a 0.75 per cent land tax surcharge for foreign owners from the 2017 land tax year.
Foreign investors will also lose the ability to defer stamp duty payments for off the plan purchases for 12 months and lose the tax-free threshold for the land tax surcharge.   “The government will make $1 billion over the next four years from foreign investors, but refuse to make life easier for first homebuyers by way of incentives for the purchase of existing properties.   “It is important to recognise that this is just a grab for cash from the government and a cop out.
"Foreign investors are an easy target and they aren’t going to continue to invest in Australia if the government makes it harder and harder for them.   “They play an important role in the strength of construction industry and should be a welcome addition to this country.
"They are good for the economy and make a crucial contribution to our society,” Mr Gunning said. 
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jchancellor-FAypfDUnLy

NSW property tax for foreigners is playing on xenophobia: Malcolm Gunning

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New withholding rules no the sale of property by foreign residents, coupled with additional real estate taxes in NSW and Victoria will attract more foreign money to South East Queensland according to Angus Raine, executive chairman of Raine &amp; Horne.
The new withholding rules apply to property contracts of $2 million or more that are entered into on, or after 1 July 2016. Where the purchase value is $2 million or more from a foreign resident seller, a 10 percent withholding will be incurred at settlement. The withheld amount is credited against any capital gains or income tax payable by the seller on the sale.
He said these new withholding rules come into play at a time when the NSW and Victorian governments are hiking up the stamp duty impost for foreign buyers as well as imposing increased land tax charges.
Raine &amp; Horne Surfers Paradise Clarke Brackenridge, said that the new withholding rules will encourage foreign buyers to consider property markets such as the Gold Coast longer-term where it’s possible to secure quality real estate, which is priced well below the withholding threshold.
“It is early days for this new ruling, and foreign buyers are just starting to absorb the longer-term ramifications of this additional red tape,” he said. 
“Notwithstanding the new withholding requirements, we are already seeing more foreign money starting to find its way to the Gold Coast, with new stock very popular with overseas buyers.
“At the same time, with a median apartment price in Surfers of $345,000 and yields above 5 percent, this is much better value than you’ll get Sydney or Melbourne – so it makes sense that with or without the new withholding laws, overseas buyers are starting to take the Gold Coast market seriously.”
Raine &amp; Horne Chermside principal Kim McHardy said the introduction of the withholding regulations for foreign vendors will help us attract more overseas buyers longer-term, particularly when you can secure new apartments for about $450,000, which are producing yields of 4-5 percent
“Other features that will tick the boxes for foreign buyers include a growing pool of new apartment stock in Chermside, excellent proximity to the CBD and Brisbane Airport, exceptional public transport, along with a magnificent upgrade of the local Westfield shopping centre that will make it the biggest in Australia,” he said.
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Angus Raine says withholding laws and property taxes attracts foreign investors to SEQ

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GUEST OBSERVER
The domestic market fundamental’s remain strong for housing development following yesterday’s announcement from The Treasury to implement a four percent stamp duty charge on foreign investors.
The Treasury’s move may intend to stabilize foreign investment and increase revenue for the State, however it has little regard for dealing with the ever increasing issue of housing affordability, particularly in Sydney. 
Based on the Sydney median house price of $995,804, the stamp duty bill for an off-shore investor will increase from $40,305 to $80,137 and generate $1 billion over four years for the government.
Increased investment in employment, transport, health, education and recreation infrastructure has been committed by the private and public sector particularly the South West Sydney, and for this reason there is a continued surge of new property sales and importantly ‘occupation’ in developments offering properties well below Sydney metro’s median price.
Sekisui House Australia’s outlook is supported by the newly reported industry data. 
According to the latest Autumn Housing Industry Association (HIA) report for NSW, the ‘AIG–HIA Performance Of Construction Index’ reports new orders in the house sector during early 2016 were somewhat stronger than at the end of 2015.  The index reading in March 2016 was 53.0 points, indicating an expansion in new orders during the month, a positive signal for detached house building activity over the near to medium term.
As the Government shifts goal posts for property investment particularly from off-shore investors, it’s important to focus on the owner-occupier market returning to the fore. Foreign property investors will always play their part in the NSW residential market, but with lower Loan-to-Value ratio being offered by the major banks, we foresee property sales for occupation potentially taking the lead in 2016 and beyond.
Craig D'Costa is the project director at Sekisui House Australia and can be contacted <a href="https://www.sekisuihouse.com.au/" target="_blank">here</a>.
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Treasury's stamp duty move to increase state revenue: Craig D'Costa 

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New stamp duty and land tax surcharges imposed on foreign buyers of residential property in NSW, Victoria and Queensland could have repercussions for Frasers Property Australia.
Its boss Rod Fehring has noted they might affect all foreign-owned property owners and developers operating in Australia, including Frasers Property Australia, the former ASX-listed Australand business, which is now wholly owned by Singapore-listed and Thai-controlled Frasers Centrepoint.
In NSW, foreign buyers will be hit with a 4 percent stamp duty surcharge from June 21 and 0.75 percent land tax surcharge starting in 2017.
Queensland's 3 percent stamp duty surcharge commneces on October 1.
Both are following Victoria which will raise its existing 3 percent stamp duty surcharge and 0.5 percent land tax surcharge to 7 percent and 1.5 percent respectively on July 1.
Developers can apply for exemptions in Victoria, but these are at the discretion of Treasurer Tim Pallas to be deemed resident or non-resident.
The treasurers in NSW and Queensland are yet to announce any exemptions.
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Frasers caught in wave of property taxes for property

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Foreign property investors in NSW will be hit with a 4 percent stamp duty surcharge when buying homes and apartments in next week's state budget.
The NSW State Government has forecast the move would raise more than $1 billion over four years, the Daily Telegraph reported today.
And it is tipped, despite suggestions to contrary, that overseas investors would also cop an extra 0.75 per cent land tax surcharge on residential property.
Treasurer Gladys Berejiklian said she was confident the extra costs would not deter foreign buyers given other states had similiar measure.
"It's been proven successful in Victoria, we also know that Queensland is moving in this direction and we also know that most foreign investors are likely to absorb this cost and proceed with their transaction anyway," she said.
"We do not feel that this will in any way compromise the property market at all.
“If you asked most economists, they would say people who are going to invest in these houses who are foreign investors are going to do it anyway,” News Ltd reported.
“We assume they’re going to invest anyway; we (want to) ensure (they are) paying tax revenue for our services. This is one way for us to ensure a strong revenue (stream) into the future,” she said.
“These new measures will ensure NSW’s property market continues to be an attractive destination for international investors while making sure that we are able to fund vital services into the future.
“The Victorian experience has demonstrated the measures have not had an adverse impact the property market,’’ she said.
The Government also said foreign investors would no longer be entitled to a 12-month deferral for the payment of stamp duty for off-the-plan purchases of residential property.
Also overseas buyers would not be given a tax-free threshold for the land tax surcharge in the 2017 tax year.
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NSW foreign property buyers to pay higher stamp duty and stamp duty

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The Queensland government will impose a 3 percent charge on foreign purchases of houses and apartments.
The extra tax follows Victoria's foreign investor surcharge which was recently increased to 7 percent.
The Baird government is preparing to introduce additional property taxes on foreign investors in its budget on June 21.
The Queensland treasurer Curtis Pitt said foreign investors would now have to pay an additional $10,962 on top of the existing $11,214 in transfer duty for a $365,000 house or apartment.
"This will ensure foreign purchasers of residential property, who benefit from government services and infrastructure, make a contribution to their delivery – as local buyers do," Mr Pitt told the Queensland Media Club in Brisbane on Thursday.
"We welcome mutually beneficial foreign investment. We are confident this surcharge – that does not affect Queenslanders – will also not affect the interest foreign investors have in sharing our state's economic strengths."
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Queensland to tax the foreigners 

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GUEST OBSERVER
It is time for the state government to put the interests of first homebuyers at the top of its agenda.
As part of a review of its Real Tax Policy ahead of the June 10, 2016 NSW Budget, REINSW has called for the state government to make amendments to stamp duty for first homebuyers.
Home ownership is not only something that individuals should aspire to, it is also something that government should foster and encourage as a means of building wealth and providing for a persons care post employment.
The NSW government needs to provide first homebuyers with a 50 percent reduction in the stamp duty on a purchase of a residential property less than $1 million and provide the ability to pay the stamp duty over time. 
Not supporting first homebuyers is to say the least short sighted and creates the risk that our best and brightest will be enticed to other states where the dream of home ownership can be a reality. 
The existing first homebuyer incentives are focused on new dwellings. The strategy being, by focusing demand toward new properties this will correct the supply problem. 
Unfortunately the strategy has two major short comings, firstly most first homebuyers buy existing properties as new dwellings are financially beyond their capacity. Secondly increasing demand will not solve the supply problem. 
We refer to ourselves us the Premier State, if there is truth behind the words then providing a pathway for our first homebuyers into their own home, is a clear way to demonstrate that the words have substance,.
John Cunningham is president, REINSW and can be contacted <a href="https://www.reinsw.com.au/imis15_Prod/web" target="_blank">here</a>. 
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NSW tax policy calls for first homebuyer relief: John Cunningham

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The practice of taxing foreigner property holdings at a higher rate than the locals is a world wide trend finally taken up by Australian legislators.
It looks like it will become the norm too in Sydney any day now. 
Just like the Labor Government in Victoria in 2015, overseas property investors look set to soon have to pay more to own a home in NSW under Treasurer Gladys Berejiklian’s upcoming state budget­.
The Daly Telegraph's state politics reporter Andrew Clennell says Ms Berejiklian is seriously considering a 1.5 percent foreigner land tax surcharge to "tackle housing affordability­" in the June budget.
It would mimic a 1.5 percent surcharge in Victoria, ­although there is a hint Ms Berejiklian could impose a slightly lesser rate of 1 percent, perhaps to obtain a competitive advantage over our southern rivals.
Victoria also imposes an extra 7 percent on stamp duty for foreign buyers but Ms Berejiklian is understood to have ruled that out.
In Victoria Premier Daniel introduced a 3 percent stamp duty charge and a 0.5 percent land tax levy for foreigners in his first 2015 budget and increased them to 7 percent and 1.5 percent this year.
Those measures are predicted to raise $486 million over four years.
Forget the tackling housing affordability, such measures are really just a cash grab against a buying group whose voice can't be heard at the ballot box.
Since words of the higher land tax emerged industry groups have been quick to suggest the proposals against foreign investors could actually slow down housing construction supply.
“The proposals by NSW Treasury to impose surcharge on land tax on foreign investors in housing will be a disincentive to invest in NSW,” says Urban Taskforce CEO, Chris Johnson. 
Johnson's taskforce says the Sydney region needs 33,200 new homes a year, but last financial year only 27,348 were built leaving a shortfall of nearly 6,000 homes.
"We must do all we can to boost housing supply and foreign investors have been contributing to this particularly through new apartments.
"To send a message that these investments are not wanted in NSW can only reduce the flow of capital into new housing.”
“Foreign investors often help make development projects become feasible by underpinning the pre-sales with up to 15% of purchases and this helps local purchasers buy into a viable project.”
But there has already been a slow-down in housing approvals in NSW inpart due to prior budgetry measures.
NSW lead the way on restricting first home grants for new builds rather than established homes, and this has contributed to record low recipients.
In the last budget NSW land tax revenues were forecast to rise at a faster rate than stamp duty revenues, rising from $2.49 billion this financial year to $3.11 billion by 2018-19.
This was based on no change in the tax rate, just reflecting growth in land values. 
The benchmark land tax base is the average of the last three years unimproved land value of all land owned above the indexed threshold for that year. The benchmark tax rate for the 2015 land tax year is $100 plus 1.6 percent of the land value between the thresholds of $432,000 and $2,641,000, and 2 percent thereafter.
Total stamp duty revenues were forecast to rise from $7.29 billion this year to $8.6 billion in 2018-19.
Property has become the constant cash cow for increasing desperate governments with just more than half of state and local government tax revenue now coming from property.
And it ain't ever going to ease off.
This article was first published in the Saturday Daily Telegraph.
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Taxing foreigner property holdings at a higher rate to become the norm

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The NSW government should hit foreigners buying property in the state with a 3 percent surcharge rather than 1.5 percent if it is serious about improving housing affordability, according to a leading online property agency.
The iBuyNew CEO Mark Mendel said the surcharge on foreign investors that has been flagged as a possible measure in the June 21 state budget is a “good move” that will help ordinary Australians to buy property.
“Foreigners buying property in Australia should be paying a tax but the 1.5 percent surcharge that has been flagged isn’t high enough,” Mr Mendel said.
“They should be slugged with a 3 percent surcharge instead.  
"By charging foreigners a higher surcharge, this gives the ordinary Australian property buyers a fair go at purchasing their own property.
“A higher surcharge will also allow foreigners to help contribute additionally to communities in the areas where the tax is collected.
“I believe it is a fair proposition for foreign buyers of real estate, who enjoy the benefits of capital growth from the property they purchase, to help contribute to the infrastructure and liveability of the communities they are investing in via this tax proposal.”
Mr Mendel said the Victorian government last year introduced a 3 percent stamp duty charge and a 0.5 percent land tax levy for foreigners.
“There has not been a noticeable impact on foreign demand for Victorian real estate since then and in fact the State Treasurer Tim Pallas has announced the stamp duty surcharge will rise to 7.0 percent and the land tax levy to 1.5 percent,” he said.
“There has continued to be a steady stream of foreign interest in Australian real estate despite these charges which are helping to ensure communities benefit from the best services and infrastructure.”
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