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]

Joel Robinson

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

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

Abadeen unveils penthouse at Park Residences in Cremorne

Victoria

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Victoria's state budget, announced yesterday, has moved to increase taxes on foreign buyers and foreign ownership.
The stamp duty has risen in Victoria for a foreign investor from seven percent to eight percent, which puts it at the same rate as in New South Wales.
The budget also focused past the purchase and have changed rules regarding the absentee land tax, where foreign investors leave land purchases empty.
The tax has increased from 1.5 percent to two percent, also in line with the figures in New South Wales.
It is estimated about 3000 foreign property investors will be hit by a boost to the absentee owner surcharge.
Victoria Treasurer Tim Pallas said the tax increases, which have been said to have been enforced to discourage landbanking, were targeted at people who could bear a greater tax burden.
He said that over the past year Victoria has seen its biggest 12 month decline in property prices in the state's history.
The Property Council have described the increased stamp duty for foreign investors as an "own goal"
Carrie Law, the CEO of Juwai, a Chinese website for buyers of overseas property, said the decision to hike taxes for foreigners were "<a href="/news/chinese-website-reaction-to-victorian-state-budget-s-new-taxes-on-foreign-buyers">dispiriting but not too damaging.</a>"
"Will the higher taxes announced this week make a tremendous difference on the market? The answer is no," Law said.
 
 
 
 
 
 
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jrobinson-rf4aSBido9

Foreign property buyers and ownership hit in Victoria state budget

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EXPERT OBSERVER
The Victorian Budget 19/20 has been adjusted to deal with the biggest write down in revenue in Victoria’s history. 
This is due to the challenging headwinds for Victoria’s property market with sales volumes down 24 per cent and cooling values as we have seen over the past year. 
Victoria’s property industry remains the cornerstone of the Victorian Budget, continuing to contribute 46 per cent of revenue and $10.5 billion in land tax and stamp duty alone in the next financial year.
The Budget delivers on the Government’s bold and ambitious infrastructure investment plan and has addressed many of the priorities outlined in the REIV’s Election Platform and Budget Submission. 
In particular, the REIV welcomes the payroll tax relief for small business and commends the Government for adjusting the rates in Regional Victoria so that by 2022/23 regional businesses will pay the lowest payroll tax in the nation.
The Victorian Government will invest $2.6b to support jobs, economies and communities in Regional Victoria and an additional $150m in the next financial year to establish the Victorian Jobs and Investment Fund. 
The REIV is also pleased with the investment in new urban growth corridors and precinct plans which we have consistently advocated for.
Included in this is $173m for the Geelong City Deal and an additional $18.8m for services.
We welcome the Fishermen’s Bend Framework which includes homes for 80,000 people and the investment in the innovation and employment clusters in Sunshine, Monash, Dandenong, LaTrobe and Werribee.
The Government has also committed $50m for the Growing Suburbs Fund to build and upgrade new community facilities in Melbourne’s 10 rapidly-developing interface municipalities. 
The REIV commends the Government for its commitment to education and training with historic expenditure in the sector.
We will work with the relevant bodies to ensure the ongoing professionalism and upskilling of our industry which was a fundamental tenet of the REIV’s Budget Submission. 
We also welcome the $2.5m support for mentoring for small business.
Other noteworthy initiatives include the extension of the Better Apartments program to the suburbs, the expansion of solar homes and the 50 per cent discount on land transfer duty for commercial and industrial properties in Regional Victoria in four year’s time.
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The Budget is still heavily reliant on property taxes. 
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While we congratulate the Victorian Government on many positive initiatives, the reliance on property taxes is of great concern to our industry.
We appreciate the government has a big infrastructure agenda, but they can’t keep dipping into the same revenue pot to fund their promises. 
The REIV and the industry predicted the property market correction and planned accordingly, but it seems the government did not. 
Robyn Waters is the president of the REIV.
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Victorian Budget delivers infrastructure and incentives

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EXPERT OBSERVER
The latest ABS figures estimate that the total number of dwelling units that commenced construction fell 9.5% in the December quarter. The current decline in Victoria’s residential property development is pushing many developers to look at diversifying.
Restrictions on foreign investment, changes in statutory fees and investment incentives, lending becoming tighter and policy uncertainty with the looming federal election have all contributed to a decline in the Victorian residential property market. As a result, developers are struggling to pre-sell a sufficient number of properties to fund residential development projects in the current environment. 
However, with Australia’s rapidly growing population, the need for new housing will persist and lead to a bounce back in the market in time.
Until then, more and more developers are looking at repurposing their existing residential development sites and transitioning them into commercial sites. Some are looking to capitalise on growing sectors of the market by turning to opportunities in the aged care and retirement living and the up and coming ‘build-to-rent’ sector. Build-to-rent developments are purposely built for rental, rather than sale. This benefits people who want or need to rent for longer periods of time. 
Residential developers frequently discuss rezoning and repurposing sites to a commercial development.
Commercial properties are vastly different from residential property developments in terms of size, function, characteristics and most importantly financial risk. 
While residential developments involve selling off the asset once complete, commercial developments usually involve retaining and maintaining the asset, which is a much longer-term financial model.
The biggest challenge for residential developers who adopt any of these alternatives is understanding market expectations and changing their feasibility from a short-term to a longer-term return with a different model and risk profile.
However, with the right team of consultants leading the transition of a development, traditionally residential developers are presented with the potential to thrive under the current housing climate in Victoria.
Opportunities in the growing aged care and retirement living market
The aged care sector is expected to boom over the next few years as our population ages and continues to live longer. 
Aged care and retirement expectations and offerings have completely changed over the last few years in Melbourne due to our society becoming accustomed to an amenities-rich way of living.
New aged care and retirement living sites are no longer sprawling developments on the suburban fringes. They are now situated in inner city areas and have become high-rise modern developments with the same premium finishes as a luxury apartment development.
Traditional residential property developers are seeing the growing ageing and downsizer population as an opportunity to take advantage of in the current market. In particular, an originally proposed high-density residential apartment site can now present an ideal transition for a modern inner city vertical aged care and retirement living development.
Earlier this year, Lendlease submitted an updated proposal for the redevelopment of the historic Channel Nine studio site in Richmond to include aged care and retirement living precincts.
One caveat is that aged care and retirement living sites have a different set of regulations and requirements which developers will need to consider in terms of feasibility and buildability.
Making moves in the new build-to-rent sector
Some developers are also considering repurposing their residential sites into a ‘build-to-rent-model’. 
While this model is still largely untested in the Australian market, there’s a growing demand for this alternative development scheme, particularly as the issue of housing affordability continues across Melbourne. 
In terms of transitioning residential development sites into a build-to-rent model, the design and construction remains largely the same, but the financial model is completely different. 
Developers will be keenly observing how ‘build-to-rent’ sites, such as UBS Asset Management, Grocon and JLL’s Gold Coast ‘built-to-rent’ site which opened early this year, will perform to see if they should transition their developments over to this model.
The reality is, the Victorian residential property development market as we know it is changing. For developers to stay afloat, they may need to explore different types of developments and repurpose their existing residential development sites. 
James Ford is the National Director at WT Partnership
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Residential developers are repurposing sites to capitalise on growing market sectors 

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The shortlist for the 2019 Victorian Architecture Awards has been announced. The list includes Melbourne Jetbase, nominated for Commercial Architecture award, after its design by Cox Architecture. (Photographed above)
It features 89 projects across 14 categories celebrating public, residential, heritage and regional architecture.
Victorian Chapter President Amy Muir says that building sustainable communities is important for the state’s long-term panning needs.
“At a time where we are acutely aware of the issues that our industry is facing due to increased procurement and economic pressures, the awards provide an opportunity to acknowledge the significant efforts made by architects, clients, consultants and contractors to provide quality built outcomes,” said Muir.
Muir said that the number of heritage projects that made the shortlist doubled over the past year.
“Most importantly, sustainability in design needs to be understood through the lens of longevity, going beyond short-term gains and visions. This is a prevailing message highlighted in our shortlisted projects this year.
“All good buildings require a considered and collaborative design process. It is these projects that provide the best outcomes for delivering permanent benefits to communities at large.”
Public architecture also saw a rise in recognition – 11 projects listed this year compared to the prior year’s four.
“The design outcomes achieved via the shortlisted public architecture projects define the important role that the public realm plays in providing exemplar-built outcomes that support our growing communities and provide a legacy for future generations,” adds Muir.
“With population density rising across our cities, public space becomes an incredibly valuable commodity – not only from an economic perspective, but more importantly for the wellbeing of our communities.”
The winners of the 2019 Victorian Architecture Awards will be announced at the official awards dinner on 28 June.
Winners of each category will then be eligible for the National Architecture Awards program.
The shortlisted projects for the 2019 Victorian Architecture Awards are:
Public Architecture
Buxton Contemporary – Fender Katsalidis
Caulfield to Dandenong Level Crossing Removal – Cox Architecture
Frankston Station – Genton
Melbourne Convention and Exhibition Centre Expansion – NH Architecture and Woods Bagot
Melbourne Jetbase – Cox Architecture
Parliament of Victoria Members’ Annexe – Peter Elliott Architecture and Urban Design
Port of Sale – FJMT
Rosanna Station – MGS Architects and Jacobs Architects
St Albans Station – Hassell
The Club Stand – Bates Smart
West Gippsland Arts Centre – Williams Ross Architects
Public Architecture jury: Rosemary Burne (Chair, Conrad Gargett) Simon Knott (BKK Architects) and Anne Clisby (Denton Corker Marshall)
 
Urban Design
Caulfield to Dandenong Level Crossing Removal – Cox Architecture with Aspect Studios
Parliament of Victoria Members’ Annexe – Peter Elliott Architecture and Urban Design
Rosanna Station – MGS Architects and Jacobs Architects
South Melbourne Primary School – Hayball
Swan Street Bridge Upgrade – BKK Architects with McGregor Coxall and Relume
Urban Design yury: Adam Pustola (Chair, Lyons) Veryan Curnow (Jackson Clements Burrows Architects), Jocelyn Chiew (Monash University)
 
Educational Architecture
Albert Park College Liberal Arts Centre – Jackson Clements Burrows Architects
Biomedical Learning and Teaching Building, Monash University – Denton Corker Marshall
Braemar College Stage 1, Middle School – Hayball
Christ Church Grammar School Main Campus Redevelopment – Sally Draper Architects in association with Mcldowie Partners
Monash University Caulfield Library Refurbishment – John Wardle Architects
Moot Court Learning Precinct for the Monash Faculty of Law – Jackson Clements Burrows Architects
Northcote High School Performing Arts and VCE Centre – Kerstin Thompson Architects
Prahran High School – Gray Puksand
South Melbourne Primary School – Hayball
Educational Architecture jury: Michael McKenna (Chair, Michael McKenna), Emily Chalk (Kosloff Architecture) and Sean van der Velden (Peter Elliott Architecture and Urban Design)
 
Commercial Architecture
ArtBank – Edition Office
Melbourne Central Arcade – Kennedy Nolan
Melbourne Jetbase – Cox Architecture
Private Women’s Club – Kerstin Thompson Architects
Pt Leo Estate – Jolson
RACV Cape Schanck Resort – Wood Marsh Architecture
United Places Botanic Gardens South Yarra – Carr
Commercial Architecture jury: Tim Leslie (Chair, Bates Smart), Anna Maskiell (Public Realm Lab), Domenic Cerantonio (Cera Stribley Architects)
 
Heritage
Albert Park College Liberal Arts Centre – Jackson Clements Burrows Architects
Bendigo Soldiers’ Memorial Institute – Lovell Chen
Classical Gas - Original Stereo Version – Multiplicity with Mel Ogden Landscapes
Flinders Street Station Façade Strengthening and Conservation – Lovell Chen
Kagan House – Kennedy Nolan
Loch Street House – Donald Gallagher and Shelley Penn Architect
Monash Caulfield, Buildings D, E and G – NMBW Architecture Studio
Parliament of Victoria Members’ Annexe – Peter Elliott Architecture and Urban Design
Royal Mint Wall Remediation – HLCD with Ingegnaria and Oculus
Sacred Heart Building Abbotsford Convent Foundation – Kerstin Thompson Architects
The Bank, Vaughan – Maria Danos Architecture
Heritage jury: Matt Gibson (Chair, Matt Gibson Architecture and Design), Janet Beeston (Frontier Heritage), adn Vicki McLean (Heritage Victoria).
 
Interior Architecture
2 Southbank – BVN
Denton Corker Marshall Studio – Denton Corker Marshall
Kia Ora Apartment – Baracco and Wright Architects
Melbourne Central Arcade – Kennedy Nolan
Parliament of Victoria Members’ Annexe – Peter Elliott Architecture and Urban Design
Powell Street House – Robert Simeoni Architects
Private Women’s Club – Kerstin Thompson Architects
The Club Stand – Bates Smart
United Places Botanic Gardens South Yarra – Carr
Whitlam Place – Freadman White in collaboration with Anon Studio
Interior Architecture jury: Karen Alcock (Chair, MAA), Eugene Cheah (Cheah Saw Architecture), and Oliver Duff (Clare Cousins Architects).
 
Residential Architecture – Houses (New)
Ballarat House – Eldridge Anderson
Bluff House – Rob Kennon Architects
Canopy House – Leeton Pointon Architects and Interiors
Cornerstone House – Splinter Society Architecture
Daylesford Longhouse – Partners Hill
Fitzroy Lane – Kennedy Nolan
Hawthorn House – Edition Office
House in the Hills – Sean Godsell Architects
North Melbourne House – NMBW Architecture Studio
Point Lonsdale House – Edition Office
Sandy Point House – Kennedy Nolan
Springhill House – Lovell Burton Architecture
St Andrews Beach House – Austin Maynard Architects
Residential Architecture – Houses (New) jury: Rodney Eggleston (Chair, March Studio), Andrew Simpson (Andrew Simpson Architects), and Claire Humphreys (Kerstin Thompson Architects).
 
Residential Architecture – Houses (Alterations and Additions)
182 Rose – Fieldwork
Acheson Place – Workshop Architecture
Brick and Gable House – Breathe Architecture
Caroline House – Kennedy Nolan
Cascade House – Atelier Red and Black
Edsall Street – Ritz and Ghougassian
Fitzroy Terrace – Taylor Knights
Garden Wall House – Make Architecture
Grant House – Austin Maynard Architects
Light Corridor House – Figr
Oak House – Kennedy Nolan
Powell Street House – Robert Simeoni Architects
South Yarra House – AM Architecture
Storybook House – Folk Architects
York St Residence – Jackson Clements Burrows Architects
Residential Architecture – Houses (Alterations and Additions) jury: Jane Caught (Chair, Sibling Architecture), Antony Martin (MRTN Architects), and Michael Roper (Architecture Architecture)
 
Residential Architecture – Multiple Housing
Clyde Mews – Six Degrees Architects
Farmer Street – MA Architects
Hawke and King – Six Degrees Architects
Iglu Franklin Street – Bates Smart
Little Oxford – Kennedy Nolan
Nth Fitzroy Apartments – Fieldwork
Scarborough and Welkin – Justin Mallia Architecture
Whitlam Place – Freadman White in collaboration with Anon Studio
Residential Architecture – Multiple Housing jury: Richard Middleton (Chair, Hassell), Bonnie Herring (Breathe Architecture), and Jesse Linardi (DKO Architecture).
 
Small Project Architecture
Doubleground – Muir and Openwork
Jock Comini Reserve Amenities – Kerstin Thompson Architects
New Agency – Sibling Architecture
Smiths Beach Surf Life Saving Tower – MRTN Architects
Sunda Bar and Restaurant – Kerstin Thompson Architects
Super Field – Baracco and Wright Architects
Tiny Home – Maddison Architects
Together Apart – Architecture Architecture
Small Project Architecture jury: Keith Streames (Chair, Streames Architects), Natalie Miles (Austin Maynard Architects), and Jamie Sormann (Foomann Architects).
 
Sustainable Architecture
Bendigo Soldiers’ Memorial Institute – Lovell Chen
Eltham North Adventure Playground – Gardiner Architects with Jeavons Landscape Architects
Hawke and King – Six Degrees Architects
Loch Street House – Donald Gallagher and Shelley Penn Architect
MPavilion – Estudio Carme Pinos and Zilka Studio
Parliament of Victoria Members’ Annexe – Peter Elliott Architecture and Urban Design
Rivergum Residential Treatment Centre – Guymer Bailey Architects
Scarborough and Welkin – Justin Mallia Architecture
Tiny Home – Maddison Architects
Sustainable Architecture jury: Marika Neustupny (Chair, NMBW), Emma Gauder (Architects EAT), and Andrew Walter (Woods Bagot).
 
Melbourne Prize
Caulfield to Dandenong Level Crossing Removal – Cox Architecture with Aspect Studios
Parliament of Victoria Members’ Annexe – Peter Elliott Architecture and Urban Design
Private Women’s Club – Kerstin Thompson Architects
South Melbourne Primary School – Hayball
The Club Stand – Bates Smart
Melbourne Prize jury: Jane Williams (Chair, John Wardle Architects), Alix Smith (Hassell), and Stefano Scalzo (Victorian Health and Human Services Building Authority).
 
Regional Prize
Cobram Library and Learning Centre – Cohen Leigh Architects
Jock Comini Reserve Amenities – Kerstin Thompson Architects
Port of Sale – FJMT
Pt Leo Estate – Jolson
Regional Prize jury: Kim Irons (Chair, Irons McDuff Architecture), Sarah Zahradnik (NH Architecture), and Kim Bridgland (Edition Office).
 
Colorbond Award for Steel Architecture
House in the Hills – Sean Godsell Architects
Peter Mathieson Pavilion – CO-OP Studio
Rosanna Station – MGS Architects and Jacobs Architects
Springhill House – Lovell Burton Architecture
The Cinema Complex at the District Docklands – NH Architecture
Colorbond Award for Steel Architecture jury: Dr Leanne Zilka (Chair, Zilka Studio), Aimee Goodwin (Project 12 Architecture), and Tim Wilson (Folk Architects).
Main photo: Melbourne Jetbase, nominated for Commercial Architecture award. Cox Architecture. Photographer: Peter Clarke.
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Victorian Architecture Awards 2019 shortlist revealed

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Legislation introduced to the Victorian Parliament will see real estate agents prevented from concealing known facts about a property’s past, including if it had been used as a clandestine drug laboratory.
The new rules include if the property was the site of a murder.
Agents will have to disclose unfavourable facts about a property upfront without being asked by potential buyers.
Current rules require agents and vendors to make those disclosures when asked for that information.
The tougher laws introduced to the Victorian Parliament on Wednesday.
The Sale of Land Amendment Bill 2019 will strengthens the existing requirement for vendors or real estate agents to disclose material facts about a property, and enable guidelines to detail what a material fact is likely to be (for example, a property’s past history as a clandestine drug laboratory or the site of a homicide).
“Families looking to buy also deserve to know whether a property was previously the site of a drug lab or a murder scene, and we’re ensuring that vendors and real estate agents disclose these important facts," Consumer Affairs minister Marlene Kairouz said.
“This is about improving consumer protections and restoring balance so that hard-working families can enter the property market with confidence.”
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Clandestine drug laboratory details need to be revealed to Victorian property buyers

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Victorians buying off-the-plan properties will get greater protection under new laws on termination sunset clauses.
The legislation was presented to state parliament on Wednesday, but backdated to August 23 last year when the legislation was first announced.
“We’re taking action to make sure that Victorians aren’t being ripped off by dodgy developers – the days of misusing sunset clauses to make super profits are over," Consumer Affairs Marlene Kairouz said.
<div>Changes to legislation will make it tougher for developers to deliberately delay projects to take advantage of a return to rising land prices across Melbourne.</div>
There have been concerns of developers returning deposits and on-selling it for a much higher price for house and land packages and off the plan apartments.
The flexibility in residential developments will be significantly reduced as while the purchaser retains the right to unilaterally terminate residential off the plan contracts of sale under a sunset clause, developers will no longer be able to do so.
To minimise the need to rely on a sunset clause, developers may opt for a longer period between the day of sale and the sunset date, to allow sufficient time for obtaining all approvals from the relevant authorities and completing all works required for registration of the plan of subdivision.
Developers will be wary about going to market too early. Consumer Affairs Victoria received 64 complaints in 2018 about sunset clauses.
The new bill had consumer advocates also praising planned curbs on rent-to-buy schemes.
Under changes to the Sale of Land Act, off-the-plan developers of housing estates and apartment blocks will need the permission of buyers, or the Supreme Court, to enact the sunset clause.
Consumer Affairs minister Marlene Kairouz introduced the changes saying the changes would ensure developers were unable to take advantage of those buying off-the-plan. 
The NSW government introduced legislation in November 2015 that requires the vendor to obtain the purchaser’s consent or an order from the Supreme Court before the vendor can terminate an off the plan contract of sale under a sunset clause.
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Victorian off the plan buyers to get boosted contract termination sunset clause rights

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Rent-to-buy schemes aimed at low-income Victorians will be banned under new laws introduced to the State Parliament which have potential jail time for vendors and third-party intermediaries.
The schemes - typically offered on properties on Melbourne's outskirts - are marketed as offering a pathway to home ownership for people unable to get a mortgage, by paying rent for a few years and then refinancing on their own. 
But there are typically exorbitant rents and legal fees.
The victims lose their first-home buyers grant.
It is often followed by moving out of their home after being unable to afford the payments.
Developers and financial services groups face fines ranging from $19,000 to $190,000 and or jail time for vendors and third-party intermediaries. 
Under the proposed laws, those who buy residential land under a dodgy rent-to-buy arrangement would be able to get a refund, excluding money paid that represents fair market rent.
Consumer Affairs minister Marlene Kairouz said the new laws would stamp out unscrupulous businesses taking advantage of people who can least afford it.
“Whether it’s putting a stop to so-called rent-to-buy schemes or restricting the terms of contracts for residential property, we’re stamping out the ripping off and exploitation of families by greedy parts of the financial services sector and dodgy developers,” Kairouz said.
The government does recognise that rent-to-buy schemes may emerge in the future, but the arrangement would need to involve the Director of Housing, a registered housing association or a similar organisation as determined by the government.
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Rent to buy schemes to be banned in Victoria unless officially approved

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Victoria is set to create 12 new suburbs across greater Melbourne, in a state bid to lower house prices.
State treasurer Tim Pallas will announce today the rezoning of the land over the next few years, according to The Australian Financial Review.
The new suburbs will include Beveridge North West, Wallan South and Wallan East, Merrifield North/Kalkallo Basin, Shenstone Park, Lindum Vale, Craigieburn West, Pakenham East, Officer South Employment precinct, Croskell, Kororoit Part 2 and Aviators Field.
The new suburbs will create around 50,000 new homes.
"The Andrews Labor government is planning for 12 new communities to sustain Melbourne's 15-year land supply, which is critical for keeping house and land packages affordable," Pallas told the AFR.
It is expected to be a challenge for the government to ensure that the newly rezoned housing areas have access to basic services such as public transport.
A study by Infrastructure Australia in October revealed that around 1.4m people residing in Melbourne's outer suburbs do not have immediate access to public transport services.
 
 
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Victoria to create 12 new suburbs by rezoning land

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EXPERT OBSERVATION
The Victorian election victory by Labor demonstrates that championing growth with infrastructure provision succeeds over scare tactics on immigration.
In the lead up to last weekend’s Victorian election the state opposition proposed immigration cuts to relieve overcrowding in a similar approach to that promoted by the NSW Premier Gladys Berejiklian.
But the voters rejected the negative spin put on growth and preferred the more positive approach of Premier Daniel Andrews to build more infrastructure to manage the growth.
There is clearly an important lesson for political parties in New South Wales from the Victorian election results.
 It appears that voters prefer the positive approach to managing growth to build a better future city with new infrastructure rather than an approach that halves immigration and slows down growth. 
Many voters are positive about the booming economy that comes with growth and the swing to a more urban city that is occurring in Melbourne and Sydney.
The Urban Taskforce believes that NSW politicians need to champion positive ways to manage growth rather than the recent examples of the government backing down on its own plans in Ryde, the Sydenham to Bankstown corridor and the back down on the code for terrace houses.
It is also important that the NSW Opposition does not exploit fears about the changing nature of Sydney and focus on development as being a problem when it is clearly responding to community needs.
The anti-development rhetoric that many politicians are using in the lead up to the state election next March is generating a negative environment in the planning system at state government and council levels which is reducing confidence in the development sector.
The result is a big slow-down in housing approvals which will inevitably lead to less new homes being built over future years and therefore housing prices going up.
Both the NSW government and the opposition need to develop better messaging about the benefits to the economy of growth and immigration and how this can lead to an even better built environment.
Sydney is going through its biggest restructure in a hundred years as it swings from a low rise suburban city to a city that becomes much more urban with more apartment dwellers. 
The 2016 census demonstrated that 30 percent of Sydney’s homes are now apartments located in more urban areas. 
The politicians must take this 30 percent of voters into account in their messaging as they are likely to become half of all voters within the next 40 years.
CHRIS JOHNSON is the CEO of Urban Taskforce Australia
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Victorian election result demonstrates championing growth can be a winner: Urban Taskforce's Chris Johnson

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The Mill House, one of regional Victoria's finest country homes, has hit the market.
The four bedroom Newham home, which was built in the 1860s, has been restored, merging mid-Victorian architecture with modern living.
It sits in 9,600 square metre structured gardens from landscaper Paul Bangay that are divided into 'rooms'.
There are open grassed areas, manicured plantings, a walled herb garden and an orchard, creek and pond.
Adjacent to the main home are the originally three bay stables now with self-contained quarters, a two storey barn, pavilion and pond house.
Jellis Craig Mount Macedon agents Dominic Romeo and Tom May have a $3 million to $3.3 million guide for its December 8 auction.
This article was first published in the Weekend Australian. 
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