Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

Joel Robinson

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Chinese Buyers

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There are nascent signs Chinese foreign buyers have tuned down their enthusiastic buying of Sydney property.
There are three pinpointed causes.
Firstly Beijing has narrowed the window for capital outflows to Australia.
At the same time, Australian banks have tightened lending criteria to Mainland China investors due to APRA regulatory requirements, and in some cases won't lend to foreign investors at all.
This week Chinese local and international estate agents reported a sharp drop-off in sales over the last six weeks as new property taxes took effect after the NSW State Budget.
From July 1, NSW doubled the stamp duty on foreign buyers to eight per cent and increased the land tax surcharge from 0.75 per cent to two per cent.
It's a little too early to say the allure of Australian property has gone, but the Chinese language property portal Juwai.com calculated searches on Australian property for sale are down a third in the first six months of 2017 compared with the second half of last year, while global searches were up.
The emerging trend coincides with a warning from a former US Federal Reserve official that our economy could be at risk from a housing market downturn if Chinese buyers retreat from residential property.
Dr Nellie Liang, who was in Sydney recently to share her views on financial stability with the Reserve Bank of Australia, said a "trigger" could be a reversal in international capital flows.
Dr Laing suggested "when you have the outsiders buying properties, if the outside money pulls out and prices fall, there's innocent bystanders who took on debt and end up underwater, which could lead to defaults."
“China is such a big economy now, and they have links to other countries, including to Australia and Canada through the housing markets, that people need to be thinking about," said the senior fellow at the Brookings Institution in Washington. 
Twenty per cent moves in house prices isn't crazy anymore, Dr Laing even suggested.
The National Australia Bank property expert panel calculated foreign acquirers in the combined established and new property markets represented 17 per cent of all apartment buyers and 11 per cent of house buyers in the June quarter. 
Chinese buyers make up the largest percentage.
Some experts believe official figures underestimate the real extent of foreign money pouring into Australian real estate because Chinese Australians and permanent resident holders act as conduits to buy property for friends and family back home.
Sydney has certainly enjoyed a stellar run with Chinese purchases, but a 50 percent sales outcome at last weekend's major Sydney CBD off the plan offering was the lowest take-up in many years.
And there are still record numbers of new apartments approved and likely to come onto the market. 
Hopefully the cooling trend in Chinese buying interest is more a pause rather than a conclusion.
This article first appeared in the Daily Telegraph.
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jchancellor-FAypfDUnLy

Signs Chinese foreign buyers have tuned down their enthusiasm for Sydney property

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Amid the Federal budget moves to introduce a vacancy tax, a survey has found that a quarter of Chinese buyers of residential property leave them empty.
The survey by investment bank UBS of mainland Chinese customers also showed that a further 45 percent rent out their investment properties and so are unlikely to be affected by higher local taxes on foreign buyers of residential property imposed by countries such as Australia.
The effect of higher charges depended on the motivation for buying, according to UBS's global head of real estate Kim Wright who oversaw the survey.
"If it's for permanent self use or temporary self use, presumably the stamp duty is an added cost, but if there's another reason why they buy – if they've got a kid at university or business abroad – then maybe it's not as material," she was cited as saying by The Australian Financial Review.
The respondents were mostly undeterred by China's tighter currency controls in their wish to buy residential property.
The survey of 3,300 people in March and April excluded high net worth individuals. 
The survey’s results comes amid evidence that mainland Chinese demand for Australian residential property is weakening.
Real estate agents have reported a sharp drop in Australian sales over the past six weeks as new property taxes take effect, while others say Beijing's tighter capital controls are also hurting demand, according to the AFR.
The six-monthly UBS Evidence Lab: China housing survey, the fifth by the investment bank, features Australia as just one of many destinations sought by Chinese buyers. Only 10 per cent of respondents said they owned property outside China and Hong Kong - higher than in previous surveys - with Singapore, Japan and Canada the preferred destinations. 
Sydney ranked fourth on the list, followed by London, New York, Melbourne and San Francisco.
The fresh appetite for foreign property from mainland China came at a time of renewed vigour that pushed domestic property sales in the largest Tier 1 and Tier 2 cities up 25 per cent year on year in January and February before easing to 15.7 per cent in mid-May.
"'Animal spirits' are increasingly behind the re-acceleration in Chinese housing demand," the survey says. 
"Expectations of higher prices were behind 30 per cent of all purchases in the last 12 months and the reason for two-thirds of buyers purchasing earlier than they planned. The proportion of consumers expecting price declines is at record lows. Higher leverage has also helped fuel housing sales, making credit tightening more effective than before."
More than two-thirds of respondents said tighter credit controls would not put them off buying overseas.
A quarter of the properties bought around the world by Chinese investors are left empty, the survey reveals.
The survey shows that mainland Chinese demand for residential property responds to price and currency factors.
Over the six months to the March-April period when the survey was conducted, mainland buying of Hong Kong residential property had been strong with buyers attracted to the weaker US dollar-linked Hong Kong dollar, and a willingness of many developers to rebate stamp duty costs to buyers.
The weaker British pound also sparked renewed but cautious interest in the London market, the report said.
"Our survey shows a rising trend of mainland consumers owning residential property abroad, notable given our survey doesn't capture high net worth consumers," the report said. 
Tightening of credit by Australian banks to foreign buyers was also not much of a factor, with 56 per cent of mainland Chinese buying in cash, either from their own savings or with cash contributed by friends or family.
"The Australian market was very concerned by the settlement risk and strength of Asian buyers when the Australian banks decided not to lend as aggressively to Australian buyers," Wright said.
"But in most markets the Asian buyers of residential property abroad tended not to use local banks for financing."
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jonathanchancellor-7SQnKwU6yx

A quarter of Chinese buyers leave properties vacant: UBS survey

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The Australian economy’s “single biggest risk” is the housing market and any pullback by Chinese property investors could trigger a crisis, according to a top executive of a global fund manager.
Banks and the stock market would be hit the hardest in case of a housing downturn, said Magellan Financial Group CEO Hamish Douglass, who manages the group’s $9 billion global fund.
“The reason the economy has been so strong is because of the massive residential construction boom, and it’s been very supported by Chinese investors,” Douglass was quoted by The Australian. 
The role of Chinese investors was highlighted by commentator Robert Gottliebsen, who recently said that Sydney has averted a crisis of defaulting off the plan Chinese apartment buyers because of the lending role of property developer Harry Triguboff.
A “major correction” in house prices would leave banks exposed, as much of their income is derived from housing mortgages, and also hammer the stock market.
“I see that as the major risk to the economy and to large components of the market. And it is correlated to the Chinese investor in our market,” he said.
Magellan aired his views on the housing market risk during the fund’s result announcement. 
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Housing market is the single biggest risk to economy: Magellan chief 

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Sydney has averted a crisis of defaulting off the plan Chinese apartment buyers because of the lending role of property developer Harry Triguboff, according to commentator Robert Gottliebsen.  
 "The Australian banks are patting themselves on the back because very few of them have major exposures to the Chinese apartment purchasers in Melbourne and Sydney," he wrote in The Australian.
"In Sydney there would have been an enormous crisis with settlements by Chinese purchasers but for the “bank of Triguboff” which has loaned $280 million to Chinese buyers who otherwise couldn’t settle," he said.
But he added with the kind of exposure that major banks have to the residential property market, if a home building slump triggers a further price downturn via higher unemployment then the banks will face mortgage losses.
If prices do fall, it will allow first home buyers to get into the market but the economic impacts of the fall will work against the first homebuyer. 
A fall in the rate of home building has started and if it gathers pace, could have serious economic impact, according to the columnist.
The repercussions could be a rise in unemployment, defaults on bank mortgages and lower stamp duty for state governments.
“And all this is being brought about by a set of housing-boom nervous banking regulators who, if there is a slump in construction, are likely to face decisions they have never before encountered,” says Gottliebsen in The Australian.
But with the kind of exposure that major banks have to the residential property market, if a home building slump triggers a further price downturn via higher unemployment then the banks will face mortgage losses.
If prices do fall, it will allow first home buyers to get into the market but the economic impacts of the fall will work against the first homebuyer.
Gottliebsen advocates a greater efficiency in the development approval process, but says state governments won't change without a crisis. But such a crisis will take place if the rate of the rate of building declines sharply. State governments might then be forced to start to take the actions required to lower costs by streamlining the approval processes to enable first home buyers to get into the market.
Brisbane is leading the fall in construction, where the situation might become “quite ugly”, he writes.
In Sydney, Harry Triguboff says he expects apartment building rates to fall between 25 and 33 per cent over 12 to 18 months which, in anyone’s language, is a major decline.
Melbourne is mixed, with demand strong for apartments and houses in suburban and outer suburban areas including Geelong, but a glut in the inner city.
But despite the city’s apartment problems, planning regulations have changed and developers who don’t take advantage of their current permission will have to build under the new regulations, which will reduce the value of their property.
However, once Brisbane and Sydney building construction rates fall, Melbourne will follow, he says.
“I can’t recall such a widespread vigorous attack on any Australian industry, let alone one that has been driving the economy since the end of the mining boom.”
“The boom in inner city dwellings was created for the most part by Chinese demand. That demand has been hammered first by increasing regulations from China on taking money outside the country; second by the refusal of the Australian banks to fund the Chinese, and finally by a series of taxes and charges being imposed by state governments to make sure the Chinese feel unwelcome.”
Apartment demand from Chinese has now nearly halved, he noted adding local demand has risen but doesn’t offset the gap left by the Chinese. 
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j.ballantyne1990-6AQqhLzZaK

Bank of Triguboff saved Sydney from enormous Chinese apartment buyer settlement crisis

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Australia remains the first choice for Chinese property investors, who are undeterred by regulatory changes or global events when it comes to buying property overseas and the trend is likely to continue in 2017, says a recent report.
Chinese investors were driven by their motivation for diversifying wealth into assets outside of China, as also favourable conditions in gateway cities around the world, according to the survey by off-the-plan property marketplace Investorist.
The China 2017 International Property Outlook, which recorded the findings of interviews from 120 property agents in mainland China, found a majority of agents (88%) predicting sales volume of overseas properties to increase or remain unchanged in 2017.  
Investor interest was undiminished throughout 2016 and the first quarter of 2017, it said.
Earlier this year, data from the Foreign Investment Review Board showed Chinese investors dominated the list of foreign investment approvals for the financial year 2015-2016, with much of it in residential real estate.
Of the total $47.3 billion pledged by Chinese investors in Australia, real estate accounted for more than $31.9 billion, FIRB data showed.
Investorist founder and CEO Jon Ellis summed up the sentiment, saying Chinese outbound property investment “has been an unstoppable juggernaut to date”. 
“It has survived domestic currency controls imposed by the Chinese government and a range of shocks in international buying markets, from Brexit through to a nationalistic Trump administration and a raft of taxation and banking restrictions in Australia,” added Ellis.
The survey included findings from interviews of 120 agencies in mainland China, and compared them with research from other leading global research houses. 
While 70% of the agents surveyed predict an increase in demand, 18% expected demand to remain the same,  while only 12% said it would fall.
<a href="https://www.propertyobserver.com.au/images/2017/07/13/ChineseInvestorsSales.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/07/13/ChineseInvestorsSales.png" alt="">
The pricing ‘Sweet Spot’ in Australia for Chinese investors is $400,000 - $800,000,  said the survey, with apartments the top choice (64%), followed by single homes/house and land packages (55%), townhouses (38%) and land (33%).
Melbourne, Sydney and Brisbane accounted for around 90% of all off the plan purchases, with the Gold Coast, Adelaide and Perth way behind. 
In terms of yields, 5-7% including capital growth are the most attractive (50% of respondents), although not important to all. 
The top three selection criteria for Chinese investors were budget (64%), followed by location (63%), then investment return rate (58%).  
Some are motivated by buying in a school/university zone, migration, a second home or investment as a currency hedge. Children’s education was found to be the top incentive for overseas investment (76%), followed by migration purposes (69%) and asset safety and capital gain (68%).
<a href="https://www.propertyobserver.com.au/images/2017/07/13/ChineseInvestorReasons.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/13/ChineseInvestorReasons.png" alt="">
The survey findings come amid major changes to the property landscape over the past 12 months in each of China’s key buy markets.
Though Australia currently holds #1 position for Chinese investors (69% of respondents,  USA (59%) is catching up fast and is expected to overtake Australia in 2017.
In Australia, a raft of increased taxes and duties and tighter lending by banks to investors dampened demand by up to 30% in the latter half of 2016 and early 2017, although demand is again on the rise. 
Interestingly, given the tight regulatory environment, 82% of Chinese investors have enough funds to settle property purchases, and potentially don’t require loans. Loans are sought for financial leverage, currency restrictions and other reasons, it said. 
<a href="https://www.propertyobserver.com.au/images/2017/07/13/ChineseInvestorsGrowth.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/13/ChineseInvestorsGrowth.png" alt="">
In the US, there was much speculation in the lead up to the Presidential election in November 2016 about the implications for domestic property prices and foreign investment. 
“The prevailing view in China since President Trump has taken office is that as a very successful property developer and businessman, he will ensure the US continues to be an excellent market to both invest in and develop real estate,” says the report.
In the UK, the Brexit result in June 2016 and the immediate devaluation of the pound (31-year low, with more than 13% drop in value) presented an immediate opportunity for Chinese investors. A-grade property in London Zones 1–2 previously considered unaffordable, looked more attractive and offered greater yields as a result of the pound’s decline. 
The survey summed up that the overall sentiment from Chinese agents was positive, implying demand would continue from investors in the next 12 months.
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Chinese investors positive on Australian real estate despite tougher laws: Investorist study

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The mystery buyer of former Australian cricket captain Michael Clarke and wife Kyly's redundant Berrima retreat has emerged as Wahroonga based Chinese manufacturer Jie Chen.
The reputed $5.25 million price is still yet to be disclosed, but its understood the Round Hill sale price included Kyly's interior furnishings.
Clarke has been holidaying with Kyly, a lifestyle blogger, and their daughter Kelsey Lee in the Maldives earlier this month having previously signed off on the deal that was two years in the making.
The couple were originally asking $6.5 million, however after sitting idle on the market, the price was reduced to $5 million through Drew Lindsay selling agent Drew Lindsay, who'd sold it three times before.
The Clarke's paid $3.1 million for the sprawling 93 hectare estate in 2012, with a new swimming pool added during their five year ownership.
The cricket lovers haven, complete with a picket fenced oval installed by former financial high flyer Bill Ireland, was a popular weekender rental at a pricey $1,200 a night through www.contemporaryhotels.com.
Kyly added her interior designer professional touches and undertaking some renovations inside the four bedroom Richard Rowe designed homestead.
The idea behind the 2012 purchase was that Clarke would set up his long-awaited cricket academy, round the corner from Bowral, the home of Australia's most renowned cricketer Don Bradman. 
Locals are pondering whether the acquisition suggests a rising Chinese interest in the Southern Highlands market.
It's only the third sale of note to Asian interests in the area.
The breakthrough entry was in 2011 when "Jin" Shangjin Lin, a graduate of Macquarie University and managing director of property development giant Aqualand, paid $7.15 million for a 40 hectare estate in Mittagong.
Lin went onto buy the $52 million Villa Igiea, the 1920s Vaucluse waterfront that has been rented over the years by the likes of Angelina Jolie and Brad Pit and Beyonce and Jay Z.
Since then there have been two major forays into the Southern Highlands.
Early 2014 the iconic Bowral tourism property Milton Park was sold to Chinese property trust interests for around $20 million.
The Edwardian-style 1910 guesthouse in heritage gardens was established by the retailing Hordern family.
A few months later The Chase at Sutton Forest was bought for $5.8 million by Malaysian horse racing tycoon Teo Ah Khing, who founded the Chinese Horse Club where he is also chairman.
The historic trophy estate on 40 hectares features a five bedroom 1880s homestead with a reception hall, formal sitting and dining room and billiard room.
Khing then paid $4.85 million for the 33 hectare winery and wedding venue across Oldbury Road.
Bowral's modern Duck Crossing estate sold for around $4.15 million to the Liu family last year.
Set on 6245 sqm, each of the homes four bedrooms have ensuites, there's a media room, grand office and two gourmet kitchens.
The luxury homes furnishings have Ralph Lauren fabrics and English oak floors.
The Centennial Road property was listed through Unique Estates agent Phillip Dwyer and Drew Lindsay at Drew Lindsay Real Estate. 
The property comes with a detached self-contained one-bedroom guest cottage and pavilion with spa and steam room in landscaped grounds, adjoining Craigieburn golf course.
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Chinese continue to target Southern Highland estates

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Chinese buyers are rushing to buy property in Sydney before the New South Wales stamp duty rises significantly for foreign investors on July 1.
The rates are set to double, moving from the standard four percent to eight percent.
The pre-July 1 activity appears centred on Sydney's east and upper north shore.
A Chinese family bought the Bellevue Hill mansion of Leslie and Kirsty Berger of the Berger family.
The property sold for over $6.5 million, which came with a four percent stamp duty of $260,000. 
Another Chinese buyer has saved $260,000 on a Gordon trophy home, also bought for $6.5 million.
The buyer, a businessman in the food industry, paid $500,000 above the price guide to secure the highest price paid in the suburb this year.
It comes in second as the highest price paid in Gordon.
Under the new foreign buyer policy, land tax also increased from 0.75 percent to two percent, important when the home sits on a 3,700 sqm parcel.
Offered to the market for the first time, the <a href="https://www.realestate.com.au/sold/property-house-nsw-gordon-125260510" target="_blank">grand three level family home</a> has five bedrooms, four bathrooms, a home office, wine cellar, gym, sauna and wet bar.
A tennis court and 12 metre swimming pool sit in the landscaped gardens.
Savills Cordeau Marshall's agents Craig Marshall and Michelle Placks sold the home.
Marshall said the tax hike would deter some foreign buyers.
Darren Curtis, of Christie’s International, on Tuesday night sold a Wahroonga residence on 2850 square metres at 10-12 Woodville Avenue for more than $7 million.
The now Bellevue Hill based insurance lawyer Michael Pitt and his wife Debra have sold their BKH-designed residence in Vaucluse for $14.5 million to a 34-year-old from China, Qianzhen Tang, ending a year-long sales campaign.
The upper north shore house price record has been toppled by the sale of Warrawee trophy estate, Springfields for reportedly about $12 million.
The buyer, originally from China, may have faced an additional $480,000 surcharge depending on their residency status.   
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Chinese prestige property purchase frenzy before July 1 stamp duty doubles in NSW

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There has been a dramatic decline in property applications from Chinese investors ever since the Chinese government turned the screws on capital outflows and reduced credit availability.
Treasury secretary and ­Reserve Bank board member John Fraser said foreign investment applications for residential housing in Australia were expected to fall more than 60 per cent to about 15,000 this financial year, from 40,000 the previous year.
Fraser attributed the steep fall as “partly reflecting” the change in Chinese credit markets, according to an article in www.macrobusiness.com.au citing the Herald Sun.
The figures come amid warnings from property buyers’ advocates in recent years that strong foreign demand for Australian property has contributed to a price surge in some cities.
Fraser’s observations come amid news reports that Chinese investors are pulling out of Melbourne's apartment market, leading to a cooling in prices.
Around 5,000 new apartments are expected to be completed and up for sale this year, but many Chinese buyers will not be able to settle because of trouble with finances following Beijing’s policy crackdown and Australian banks tightening lending to investors.
Fraser’s comments came after Moody’s Investors Service downgraded its credit rating on China by one notch.
Moody's downgraded China's long-term local currency and foreign currency issuer ratings to A1 from Aa3 and changed the outlook to stable from negative on Wednesday, saying the downgrade reflects expectations that China's financial strength will erode somewhat over the coming years, with economy-wide debt continuing to rise as potential growth slows.
Its growth had been fuelled by credit, Fraser said, but “Chinese authorities are clearly aware of the risks attached to this”.
“They are now implementing measures to maintain stability and this has included measures to reduce the outflow of capital from China,” Fraser was quoted as saying in the article.
“In turn, this has contributed to a softening of Chinese investment in Australian resi­dential real estate since late 2016 — although interest in business investment remains strong but, even here, we are seeing the impact of tighter credit availability.”
Around 80 percent of Chinese buyers will not be able to settle because of trouble getting finance, according to Ming Li, a real estate agent in Melbourne's eastern suburbs who specialises in selling Australian property to Chinese investors.
He said many of his clients had either forfeited their deposits or sold their apartments at a loss.
"The Melbourne apartment market is cooling down," Li was cited as saying by ABC News.
"It is kind of the oversupplied market, and the Chinese investors are losing their interest in buying an apartment in Melbourne. The capital gains return is so low."
China’s new rules only allow individuals to transfer about US$50,000 overseas, per head per year. Combined with Australian banks tightening availability of credit to investors, it is like a double whammy for Chinese investors.
"If you look at apartment approvals, which is a bit of a reflection on apartment off-the-plan demand, they peaked 18 months ago, and [now] they have started to slow,” Angie Zigomanis, BIS Oxford Economics property analyst, was quoted by the ABC.
"We did an analysis a little while ago looking at people who had purchased an apartment off the plan since 2011 and since resold."
Zigomanis found that: "Sixty per cent of buyers who had purchased off the plan and then resold recorded either no price growth or a loss."
Citi has warned that the downturn in apartments will filter through to a 7 percent price correction next year in the broader housing market.
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Steep fall in Chinese residential applications this financial year: Treasury secretary John Fraser

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A new study has revealed Sydneysiders are harbouring deep-seated fears that the Australian property market is being driven by ‘super-rich’ Chinese investors.
Almost 900 Sydneysiders were asked about their perception of foreign investors in the real estate market in a study led by Dr Dallas Rogers, housing researcher for the University of Sydney’s School of Architecture, Design and Planning.
The results found that there remains a high level of public concern and discontent about foreign investment, with more than half of respondents believing that government regulation of foreign investment is ineffective.
There was a view that Chinese investors are ‘super-rich,’ as perceived by 58 percent of respondents.
Around 63 percent identified Chinese as the majority of Sydney investors, which is likely given Chinese investment is concentrated in Sydney and Melbourne but within particular suburbs.
“The recent federal budget saw the government come down hard on foreign investors, which demonstrates the dilemma that the government is facing as it attempts to manage foreign investment alongside a disenchanted Australian public,” Dr Rogers said.
“Historically there has always been cultural tension over land and home ownership in this country that began with the arrival of British settlers in the late 1700s, the Chinese gold rush in the 1850s, and the White Australia policy in the early 1900s.
“In the 2000s, we again face significant societal change due to economic, political and social forces from Asia which, given its proximity to Australia, is reshaping our cities. This is the first time we have sought the individual opinion of Australians on the ground about the impact they believe foreign investment is having in their communities.” More than 64 percent of respondents cited foreign investors as the main reason for driving up house prices, despite little data on the inflationary impact of foreign investment on property. 
This is in spite of National Australia Bank data in 2016 showing that Australian residents and investors still make up a greater proportion of real estate buyers in Australia, accounting for 52 percent of sales, while only 14 percent were foreign investors.
The other most cited triggers for driving prices were low interest rates (37 percent of respondents), planning (36 percent) and local residents/domestic investors (32 percent).
The real estate industry recognises that the sale of established properties plays a big role in shaping housing prices, but there are strict conditions placed on foreign investors. Foreign investors can buy new properties, but can only purchase established homes if they meet certain criteria, such as a property that will be used for foreign student accommodation.
Domestic residents and investors therefore still make up almost 60 percent of this market, compared to 8.6 percent who are foreign investors.
The study has followed a 2014 Australian Government Parliamentary Inquiry into individual foreign investment in residential real estate due to mounting public pressure.
“The skills and cultural contribution of migrants to Australian society are so often overlooked by an ingrained historical desire to achieve the great Australian dream of homeownership,” Dr Rogers concluded.
A full report has been published in the <a href="https://www.tandfonline.com/doi/full/10.1080/00049182.2017.1317050" target="_blank">Journal of the Australian Geographer</a>.
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Australians' deep-seated fear of foreign investment in housing remains: Sydney University research

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Harry Triguboff, Australia’s biggest apartment developer, is financing about $200 million mostly Chinese buyers of his apartments as China imposes tougher currency controls to get money out of the country.
Triguboff, the owner of developer Meriton Group, said his company didn’t lend until two years before, but with Australian banks tightening lending to Chinese investors and China making it harder to take out money, financing became an option.
"Now, [I'm lending] maybe $200 million. It might go up to $400 [million]. But then they will start paying back. This is the worst time. What's happening is I don't have old customers, so nobody's paying me back. So I'm building it up. In another year, they'll start paying me back,” Triguboff told the Australian Financial Review in an interview.
Despite saying he was "unfortunately" lending to his customers, it is something Triguboff, who topped the BRW Rich List for the first time last year with an estimated fortune worth $10.62 billion, can afford. Meriton's balance sheet is strong enough to extend finance to its customers. 
“I don’t want to be a banker, but I have to be one if our banks won’t lend,” he said a while back.
Apartment prices are also weakening, he said.
"Now, if anything, it's going down a bit," Triguboff said. "It went up in the beginning of the year. Now it's gone down."
He expects to make $1.4 billion worth of apartment sales this year.
Apartment values in Sydney fell 1.2 percent in April while in Melbourne, they were down 0.9 percent, CoreLogic figures show. Meriton develops in NSW and Queensland but not in Victoria. 
Just last year, Tribugoff was worried that Chinese investors leaving the market would trigger a 10 per cent fall in Sydney apartment prices, which might have even blown out to a 20 per cent fall. 
Triguboff had predicted more buyers to forfeit their deposits and fail to ­settle off-the-plan units due to funding constraints, both as China clamped down on taking money out of the country and Australian banks tightened lending to overseas investors.
"The Chinese government is making it hard for them. That is the biggest problem,” he told the AFR.
But recently, the Chinese have started coming back as they think the Chinese government would start to ease the control towards the end of the year, fuelling optimism among investors.
Recently, Meriton raised his off-the-plan development prices up 3.5 per cent without seeing demand fall. 
Overseas Chinese are now snapping up some 50 per cent of Meriton apartments sold off the plan. Australian-born Chinese are taking around 25 per cent and Australian investors/first homebuyers are taking about 25 per cent, according to a recent article in The Australian.
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