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

Stamp Duty

<html><body>
GUEST OBSERVER
Federal Treasurer Joe Hockey’s call for a proper debate on state taxes and the state governments’ over-reliance on inefficient state taxes including stamp duty is welcome and completely in line with community attitudes. The Treasurer’s speech comes just days after polling revealed widespread public acceptance of future GST changes.
Joe Hockey has said what everyone knows – stamp duty is a harmful, distortive tax which needs to be abolished and this will require broader tax reform to be achieved.
Abolishing stamp duty and replacing it with a more efficient revenue base would address housing affordability, boost the economy, be supported by the community, and bolster fragile state budgets.
Obviously the removal of stamp duty needs to occur in conjunction with a broader series of tax changes so that states and territories have the revenue they need to deliver services, and it is essential that GST reform is on the table.
A report from Newgate Research Community attitudes towards tax reform, commissioned by the Property Council, found that nine out of ten Australians surveyed supported tax reform which made the system simpler and fairer.
Far from being political poison, people see the GST as our fairest tax.
Our research shows that a reformed GST would pass the fairness test set by our political leaders.
Some 65% of respondents believed the GST to be fair or very fair, and only 35% as unfair, with most citing its benefit as a tax that cannot be dodged.
While there was some variation, this fairness rating was the majority view regardless of the respondent's gender, age, state, voting intention or property tenure.
The research also shows that people think it is inevitable that the GST will go up. When asked what they believed would happen over the next decade, almost three quarters (72%) said the GST will increase.
Strikingly, only 2% believed it would definitely not go up and just 6% that it would probably not go up. For the public, this is almost a done deal.
Getting rid of stamp duty needs to be a top priority of every government in the country. It has the highest costs to economic growth and living standards.
Treasury’s own modelling shows that Australia’s economic welfare is reduced by 73 cents for every dollar of stamp duty raised, which is 50% worse than company tax and three and a half times worse than income tax or the GST.
The Treasurer’s call today coincides with a release of the Grattan Institute’s Property Taxes working paper which moots the introduction of a new property tax on owner occupied housing.
We welcome the Grattan’s Institute acknowledgement that stamp duty needs to be abolished, but the idea of introducing yet another new property tax without retiring existing inefficient taxes is unfair and will unacceptable to the community.
The Grattan report conveniently leaves out stamp duty in its attempts to argue that property is undertaxed in Australia.
The industry currently pays $77 billion of taxes to all three levels of government. Treasury estimates that property specific taxes make up 9% of Australia's total tax take compared to an OECD average of just 5%. We're surprised Grattan would get this so wrong.
Furthermore the Grattan Institute report admits that they would need an extra new property tax at double the rate they proposed to fund the replacement of stamp duty.
The Property Council is happy to explore the option of a broad based low rate land tax, but the reality is that it won’t raise enough money to abolish stamp duty, it will be politically unpopular and it doesn’t do anything to fix the high land taxes on commercial and investment property.
There is absolutely no justification for a new property tax that does not offset other punitive taxes.
Changes to the GST is a practical solution to enable stamp duties to be retired to boost the economy in a way that is fair.
Ken Morrison is chief executive of Property Council of Australia. He can be contacted <a href="https://www.propertyoz.com.au/Profiles/ProfileDetail.aspx?pid=76" target="_blank">here</a>. 
</body></html>

po-LsXgBTHBmX

Hockey’s call for proper debate on state taxes welcome

<html><body>
New research conducted by Newgate Research shows Australians dislike stamp duty when asked to rank taxes in terms of fairness.
Stamp duty comes last, closely followed by land tax. 
Over two-thirds of Australians support the idea of abolishing stamp duty completely, with over half saying it made it harder for them to afford a home. 
Some 65% of respondents also rated the GST fair or very fair, with 72% believing the GST will probably or definitely be increased over the next decade.
State governments could boost the efficiency of the economy by $9 billion a year if they adopted a wider tax on all property while phasing out stamp duty, a new policy paper suggests.
Property Taxes, the second working paper in Grattan’s Budget Repair series, finds that a levy of just $2 for every $1000 of unimproved land value would raise $7 billion a year with an annual charge of $772 on the median-priced Sydney home, $560 on the median-priced Melbourne home, and lower average rates in other cities and the regions.
The Grattan Institute has suggested a tax levied on the value of property holdings would be a fairer way of funding the burden of health and education services that are rising faster than gross domestic product.
Property taxes – which Grattan institute director John Daley concedes are politically difficult to impose – are positive economically because they don't distort incentives to work, save or invest.
"Unlike capital, property is immobile – it cannot shift offshore to avoid higher taxes," the report said. 
<a href="https://grattan.edu.au/report/property-taxes/" target="_blank">The Grattan Institute</a> estimates that an annual levy of $2 for every $1000 of unimproved land value – or $1 for every $1000 of capital improved property value – would raise around $7 billion a year.
A homeowner living in a median-priced Sydney home of $772,000 would pay a levy of $772 a year. Their Melbourne equivalent would pay $560 and those on low incomes with no wealth would pay nothing, while low-income retirees with valuable houses could defer paying until their homes are sold, John Daley argues.
Mr Daley says that even higher property taxes could be used to pay for a reduction and eventual scrapping of stamp duties, which he described as among the most inefficient and unfair taxes still available to states, as well as being linked to property market volatility.
"Shifting from stamp duty to a broad-based property tax would provide a more stable tax base for states, spread the tax burden more fairly, and add up to $9 billion annually to GDP," Mr Daley said.
{mijopolls 121}
</body></html>

jchancellor-FAypfDUnLy

Scrap stamp duty for property tax for everyone: Grattan Institute

<html><body>
<div class="cq-article-content-paras section">
South Australia is moving to abolish stamp duty on commercial property sales over the next the three years.
Treasurer Tom Koutsantonis said he was deliberately seeking to stimulate the business sector in the state with the highest unemployment in the nation. 
The scrapping of stamp duty on the 6,000 commercial and industrial property transfers that happen annually in South Australia will cost the government about $389 million over the three years from July 1, 2016. 
The first stage is a one-third cut in stamp duty in mid-2016. 
The Weatherill government has thrown down an unexpected tax reform challenge to other states as it phases out stamp duty on commercial property transactions.
It does not apply to farms.
By 2018-19, the state will have stripped a $48,830 duty from a $1 million South Australian commercial deal.
It will save $543,830 after a $10 million acquisition or a $2,589,915 million cost on a $10 million transaction.
</div>
<div class="cq-article-content-media section">But stamp duty expert, Joanne Seve, told the Australian Financial Review other mainland states were unlikely to follow as the cost of abolishing stamp duty on non-residential, non-primary production commercial property transfers would be at a much greater cost and likely require a replacement source of revenue.</div>
<div class="cq-article-content-paras section">
 
</div>
</body></html>

SA to phase out commercial property stamp duty

<html><body>
The developer lobby is the boy who cried wolf in Australian real estate. He’s actually right about something and desperately wants to be heard, but no one is listening anymore.
The recurring topic is the cost of housing. It’s absorbing far too much time and energy for stakeholders everywhere, because politicians find the obvious solutions unpalatable.
If politicians stopped taxing real estate to within an inch of its life, life for home-buyers would become so much easier. The cost of a new home for a first-timer could be massively reduced. One estimate suggests the typical new home in Sydney could cost $250,000 less.
The developer lobby argues that stamp duty is the single biggest problem. I have to agree that stamp duty is an obscenity. Having to cobble together a deposit is a big enough challenge for property buyers, without having to save to pay an exorbitant and unjust tax as well.
Stamp duty on the median priced dwelling in Sydney ($752,000 according to RP Data) is almost $30,000. It’s similar sum for the same purchase in Perth, while anyone buying a home at that price in Melbourne would pay over $40,000.
It’s tantamount to paying a fine for the crime of buying a home or an investment to fund your retirement.
The developer lobby has been targeting this issue with one of its endless campaigns. It wants stamp duty scrapped. It presents some compelling evidence, but I doubt anyone important will take any notice because builders and developers have been crying wolf on multiple issues (e.g. the mythical housing shortage crisis) for years.
And its proposal overall is a massive turnoff. Its argument essentially is this: everyone should pay more tax so that the development industry can make more money.
The Property Council of Australia, arguably the most self-absorbed group in society, is suggesting that stamp duty should end and the lost government revenue be recouped by increasing the GST. 
The proposal, therefore, is that everyone should pay more for everything they buy so that real estate can be exchanged cheaper. I’m sure that’ll go over well with the general public and the politicians they elect.
The council argues stamp duty is inefficient and "a runaway cash grab that's hurting Australia's economy and locking out potential home buyers". It says the community should be outraged at figures like these:
The cost of stamp duty to a home buyer with an average-sized mortgage has increased 795% in Melbourne and 749% in Sydney in the past 20 years. 
Property owners have become Australia's largest collective taxpayer, contributing 9% of total tax revenue.
Property taxes make up as much as 46% of state, territory and local government budgets. Stamp duty alone contributes more than 20% of the total revenues of the NSW,      Victoria, Western Australia and Northern Territory governments.
The cost of stamp duty over the life of an average mortgage is now $61,542 in Sydney, $56,616 in Melbourne, $49,701 in Darwin and $35,427 in Canberra.
The Housing Industry Association, another noisy member of the developer lobby, says property taxes add around $250,000 to the price of a new home in Sydney. That, it says, accounts for 40% or $1,350 per month for the life of a home mortgage.
"Taxes on new housing are a brake on economic activity, and represent a constraint on housing affordability and labour productivity," the association's head of industry policy Graham Wolfe says.
Wolfe says stamp duty is the most inefficient tax in the system. However, he says there are many other taxes on new homes, including developer infrastructure levies, which can add $70,000 to the cost of a new home-and-land package. GST is also levied on new homes, but not existing properties, adding tens of thousands of dollars to the cost.
The problem is: state governments will never give up their property taxes. They’re addicted to them.
We’ve seen what’s happened with the ACT Government. It went to an election promising to eliminate stamp duty within a specific time frame. Now they’re reneging on their promise. They just can’t let go of all that lovely money.
And, for them, the protests of the developer lobby are just background static. No one is listening.
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
 
</body></html>

terryryder-YECXbqmri2

State governments addicted to property tax: Terry Ryder

<html><body>
Melbourne buyers agent Ian James expects the Victorian state government foreign nationals stamp duty tax "may well be the straw that breaks the camel’s back."
Noting the vast majority of foreign nationals buying investment properties are buying apartments off the plan, Ian James says for the most part a foreign national purchaser buys in Melbourne because their kids are going to school here or they are waiting to get permanent residency and further to that, citizenship. 
"These are the people who will be your future neighbours, your children’s friends at the local school," Mr James said.
"We need to increase our population as quickly as possible and whilst the Government looks for more ways to waste our money, I think there are better ways to collect it."
He said the foreign national investors who buy land and develop townhouses, villas or homes to live in create jobs here in Australia. 
"The foreign nationals spend money to build homes, and furnish them spending money locally in shops.
"A local buyer can purchase an older home, rent it out for several years until the land appreciates enough to get a further loan to build or redevelop the land. 
"This means, no extra work for builders, no cabinet makers or furniture manufacturers."
But the JPP Buyer Advocates founder says many of the off the plan properties being sold to them are "overpriced by usually 20%+ and are very difficult to lease out. 
"They are quite often inner city or on the fringe in Docklands and Southbank. 
"Foreigners hold them for 3-5 years and then they sometimes sell them at a break-even or even a loss. 
"The Victorian state government wants to stop foreign nationals buying in Victoria by increasing the stamp duty they must pay. 
"This new 3% tax may well be the straw that breaks the camel’s back. 
"And for all those high rise developments in the pipeline – good luck!!!," he recently blogged at <a href="https://www.jpp.com.au/market-comment/market-forces/foreign-investment-and-a-xenophobic-money-grabbing-government/" target="_blank" style="line-height: 1.3em;">JPP Buyer Advocates</a>. 
</body></html>

New Victorian foreigners tax the straw to break the camel's back: Ian James

<html><body>
GUEST OBSERVATION
Housing is too big an issue to be left untouched in the lead-up to the NSW state election.
After weeks of relative inactivity, there has been a succession of announcements that could affect the NSW real estate market, covering housing supply, the practices of real estate agents and the transaction costs faced by first home buyers.
While claiming to target underlying affordability issues in the housing market, these promises are designed to appeal particularly to prospective home buyers - but could actually worsen affordability.
In fact, the one policy that could make the biggest difference is one that neither side of politics is likely to touch: axing stamp duty altogether.
Meek tweaks to existing policy
NSW Premier Mike Baird made the first move, announcing that if re-elected, his government would <a href="https://www.smh.com.au/nsw/nsw-state-election-2015/nsw-election-2015-baird-pledges-hed-double-land-release-for-new-housing-20150306-13x8un" target="_blank">“supercharge” new housing supply</a> around Sydney through increased land release.
But the reality is that most of the recent and proposed Sydney-based land releases are in areas that don’t match the needs of the target home buyers, especially employment opportunities. Around 30% of lots released in the first term of the Baird government have been in the Blacktown local government area, also covering future growth sites such as Schofields. Department of Employment figures show that this area also has the <a href="https://lmip.gov.au/default.aspx?LMIP/LFR_SAFOUR/NSW_LFR_LM_byLFR_UnemploymentRate" target="_blank">highest unemployment rate</a> in Sydney at 6.3% relative to a city-wide unemployment rate of 5.3%.
Another promise from the NSW Liberals has been to <a href="https://www.dailytelegraph.com.au/news/nsw/premier-mike-baird-pledges-crackdown-on-real-estate-agents-who-underquote-no-fines-issued-since-2004/story-fni0cx12-1227251897133" target="_blank">crack down on the practice of “underquoting”</a> by real estate agents. That’s where agents advertise a property at below what the vendor would reasonably accept, thereby boosting the pool of potential buyers who turn up to an auction.
Underquoting already attracts a fine of $22,000 in NSW, yet is poorly detected. It has been more than 10 years since a fine for underquoting was issued in NSW. Echoing promises made by Denis Napthine prior to his loss at the Victorian state election in late 2014, the Baird government has promised to target loopholes that permit agents to get away with underquoting, increase the penalty and possibly cancel agents’ licences.
For their part, Labor’s Luke Foley has <a href="https://www.smh.com.au/nsw/luke-foley-raises--stamp-duty-overhaul-during-second-election-debate-20150308-13ydxz" target="_blank">proposed</a> a policy that would allow first home owners to pay their stamp duty over five years instead of within three months of the property purchase.
Critics of NSW Labor’s plan question whether it really does help first home buyers to defer payments that will accrue interest in line with inflation.
And by removing this upfront cost, there is additional spending money available in the property search. Essentially, the Labor policy boosts demand in the short term at the longer term expense of first home buyers who will face increased repayment stress.
In fact, a more meaningful and positive impact on the entire housing market could be achieved through scrapping stamp duty on property transfers altogether.
Stamping out stamp duty
<a href="https://www.osr.nsw.gov.au/taxes/transfer-land/about" target="_blank">Stamp duty is a transaction tax</a>, and a significant one in real estate transactions in Sydney. Latest <a href="https://www.corelogic.com.au/research/monthly-indices" target="_blank">CoreLogic RP Data figures</a> show the median house price in Sydney is now over $900,000. On these numbers, a house selling at the median price in Sydney would attract a stamp duty bill of more than $35,000.
Transaction taxes affect all trading behaviour, but the impact is magnified in housing markets. The sheer size of looming stamp duty bills can limit opportunities for people to move house, locking them into a single property. This often hits hardest those in most need of relocation, like people whose living arrangements have changed because of divorce or who need to move for work.
Stamp duty also acts as a drag on the broader economy by restricting the efficiency of property prices, property supply and even labour mobility.
Why is the government too shy to touch stamp duty?
Put simply, the NSW government is addicted to stamp duty.
Current Minister for Planning, and former Minister for Community Services (under which other agencies such as NSW Housing sit), <a href="https://www.smh.com.au/act-news/goulburns-pru-goward-braces-for-a-huge-hit-at-nsw-poll-20150309-13yvw6" target="_blank">Pru Goward describes the situation perfectly</a>: "…We have a housing boom that of course is generating tremendous stamp duty revenue, so our revenue is back in the black and that has enabled us to make spending commitments that we otherwise would not be able to do."
NSW raised <a href="https://www.smh.com.au/nsw/stamp-duty-surge-bumps-nsw-surplus-to-12-billion-20141028-11czfw" target="_blank">more than $1 billion through stamp duty last year</a>. That is a very hard source of revenue for any government to let go of. Unfortunately for voters, it’s also incredibly inefficient.
The Henry Tax review <a href="https://taxreview.treasury.gov.au/content/FinalReport.aspx?doc=html/publications/Papers/Final_Report_Part_2/chapter_c2-4.htm" target="_blank">recommended switching away from stamp duty</a> to broad-based taxes, such as consumption tax or even land taxes. <a href="https://www.cpaaustralia.com.au/professional-resources/taxation/tax-reform-in-australia" target="_blank">CPA Australia</a> recommended something similar. The success of this switch would require cooperation between different levels of government.
More carrot, less stick
But is there a solution in the middle? A key flaw to Foley’s proposal is that it increases demand and is expected to further push up prices. Rather than incentivise first home owners to buy, why not offer an incentive for prospective sellers to put their property on the market?
The “empty nesters”, for example, now nearing retirement and with little need for the family home may be interested in downsizing to a smaller, more manageable property. Stamp duty is a cost that currently creates a disincentive for them to move.
Take away the stamp duty and the government could help create a more efficient housing market where home buyers have access to the right property for their needs.
<img src="https://counter.theconversation.edu.au/content/38536/count.gif" alt="The Conversation" width="1" height="1">Danika Wright is lecturer in finance at University of Sydney.
This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>.
{mijopolls 97} 
</body></html>

Killing off stamp duty - a good policy that no politician supports: Danika Wright

<html><body>
The NSW Treasurer Andrew Constance says the Labor Opposition's home buyers stamp duty relief policy was merely reheating a failed Labor government stamp duty policy.
“The Stamp Duty Deferral Scheme is just that – a deferral – which will have to be paid back as a $561 first home buyer tax every month,” Constance said.
“Under Labor’s plan, new home buyers who purchase a $750,000 home and defer paying $29,240 in stamp duty will then be slugged every month, when they can least afford it.”
Labor’s Stamp Duty Deferral Scheme was originally introduced in the mid-1990s, then scrapped by former NSW Labor Treasurer Michael Egan because it was becoming a financial burden on those entering the housing market.
Egan told Parliament in his 1998 Budget Speech: ”The current option of deferring stamp duty… is not working. Only 25 per cent of first-time buyers are taking it, it is more costly to them than the discount option, and many who do take it find that they are creating a later financial trap, with almost 48 per cent of them in arrears.”
“Those who fail to learn from history are bound to re-live it,” Constance said.
“Under Labor’s plan, first home buyers will pay two mortgages instead of one."
The Baird government has first time buyers has receiving a $15,000 grant on new homes worth up to $750,000, with stamp duty exemptions and discounts available for new builds valued between $550,000 and $650,000,” Mr Constance said.
NSW Labor leader Luke Foley told 2GB broadcaster Alan Jones that Sydney needs more land release.
"Part of the answer is supply," said Foley.
"Sydney will have 5.9 million people by 2031, so we need greenfield and infill housing supply."
</body></html>

NSW Treasurer attacks Labor staggered stamp duty scheme

<html><body>
The NSW Opposition has promised a staggered stamp duty payments scheme for first home buyers if it wins government at the upcoming March election.
It was an undertaking revealed on the Channel 7/Daily Telgraph leaders debate in response to an audience question about what Luke Foley and Mike Baird would do to make it easier for first home buyers to enter the hot NSW market.
“Look at a scheme where people, rather than being charged 100 per cent of stamp duty upfront, they could pay it back in instalments over several years,” the NSW Opposition leader, Luke Foley suggested, seemingly foreshadowing a more detailed policy announcement.
Advising the key to lowering prices was increasing the number of houses built, Premier Mike Baird said he had introduced a scheme where first home buyers purchasing new dwellings under $550,000 are exempt from paying stamp duty.
Stamp duty is one of the big upfront costs in buying a house especially if the buyers don't wish to be corralled into buying a new house or flat.
<a href="https://www.apps08.osr.nsw.gov.au/erevenue/calculators/fhnh.php" target="_blank">Stamp duty is calculated</a> by applying a sliding scale of state government taxation, depending on the value of the property purchase.
The NSW first-time buyer concession in place for stamp duty is designed to make it easier for people to get their first home, but only news homes. 
NSW is probably the most generous state.
<div title="Page 1">
<div>
<div>
The scheme was established to assist eligible first home owners to purchase a new home or build their home by offering a $15 000 grant. The grant applies to new homes only and does not apply to the purchase of an established home, vacant land, business premises or a holiday house. The grant will reduce to $10,000 on 1 January 2016. 
</div>
</div>
</div>
The First Home New Home scheme commenced from 1 January 2012 and provides eligible purchasers with exemptions from transfer duty on new homes valued up to $550,000 and concessions for new homes valued between $550,000 and $650,000.
Eligible purchaser buying a vacant block of residential land to build their home will pay no duty on vacant land valued up to $350,000, and will receive concessions for vacant land valued between $350,000 and $450, 000.
 
 
</body></html>

NSW Labor promises staggered stamp duty for first home buyers

<html><body>
Mark Mendel, CEO of iBuyNew, the largest facilitated market place for off the plan buyers in Australia, believes we should double stamp duty for foreign buyers.
The potential revenue increase should be used to reduce stamp duty for first home buyers (FHBs).
Mendel believes foreign ownership of Australian property is relatively inelastic.
“The application fee for foreign buyers does not go far enough in my opinion" said Mendel.
"We should look to double stamp duty for foreign property buyers and use this increased revenue to reduce stamp duty for first home buyers.”
“The current overreaction from many in the industry that the proposed application fee will affect foreign ownership of property in Australia is grossly misstated.
“From my experience, the motivation for overseas investors to buy property in Australia is to move funds into a politically stable economy.
"An additional application fee does not change this.” 
iBuyNew has sold over 400 properties worth over $170 million since launching and has over 1,500 apartments available.
</body></html>

Double stamp duty for foreign buyers and reduce it for FHBs: Mark Mendel

<html><body>
Stamp duty on property conveyancing, insurance and motor vehicle sales should be scrapped and the goods and services tax (GST) lifted to make up any funding shortfall, accounting professional body CPA Australia has proposed.
<a href="/expert-insights/finance/how-stamp-duty-varies-state-by-state">Pressure has been mounting for changes to stamp duty</a>, which is charged when properties change hands, with representatives from various state branches of the Real Estate Institute, the Property Council of Australia and other industry commentators calling for the tax to be reviewed.
CPA Australia chief executive Alex Malley described stamp duty and taxes on property conveyancing, which often run to tens of thousands of dollars, as “inefficient and unpopular”.
He said modifications to the GST could raise enough revenue to allow government to eliminate the charges.
“Additional GST revenue can be used to abolish a number of inefficient state taxes and also provide for personal income tax cuts and compensation for low income households, while also boosting economic growth,” Malley said.
The accounting body commissioned KPMG to prepare a report comparing four scenarios involving changes to the base and rate of the GST, along with the removal of stamp duties.
Under the existing system, a 10% GST is applied to a wide range of products and services in Australia. Food, health and education are excluded.
One scenario looked at maintaining the level of the GST but extending it to include food, health and education. The report estimated an additional $12.1 billion could be raised in the first year through this course of action.
Another scenario examined retaining current exemptions while increasing the GST to 15%. This would raise an extra $26 billion, the report estimated.
A third case considered lifting the GST and extending it to cover health and education but not fresh food, which was reckoned to bring in $36.8 billion in extra revenue.
The final scenario involved increasing the GST to 15% and broadening its reach to include food, health and education. The modelling found this would raise $42.9 billion additional revenue.
“The additional revenue raised in each of the scenarios can be used to retire or reduce inefficient and unpopular taxes, including stamp duties on insurance, motor vehicles and conveyancing on residential and commercial properties,” Malley said.
“The modelling reveals that there is also sufficient revenue to return to households as income tax cuts or as compensation for low income households who would not benefit from changes in income taxes.
“The net outcome in all the reform scenarios we’ve looked at is that households across the income spectrum can be better off.”
Previous reviews of the taxation system have excluded the GST, which was introduced by the Howard government in 2000, more than 20 years after a consumption-based tax was first proposed for Australia.
{mijopolls 92}
</body></html>

Stamp Duty

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Stamp Duty

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News