The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.

Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.

The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;

The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;

LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;

Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;

Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;

At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;

“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.

"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.

“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;

Fast Facts: What is Resilience LDI?&nbsp;

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>

The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

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

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

Chinese Buyers

<html><body>
Chinese buyers have trumped local bidders for properties in Melbourne’s upscale suburb of Toorak, with more than $50 million of property sold there over the past weeks.
Theses deals include 2 Heymount Close (above) and 9 Hill Street, with the two mansions selling for a combined $31 million at private auctions, according to Fairfax Media.
Buyers’ advocate David Morrell, who bid on behalf of local buyers for these homes, told Fairfax Media that Chinese buyers were back in the market over the past weeks after disappearing for nearly 12 months.
Describing the scenes at the private auctions, Morrell said buyers were bidding against each other through Mandarin- or Cantonese-speaking agents.
Both properties sold well over the reserve — the Hill Street property was on the market at $14 million and sold for about $14.6 million.
The four-bedroom home at 2 Heymount Close — with scope for redevelopment — was on the market at about $16.15 million and sold for $16.72 million.
“We can’t make the numbers stack up,” he said. “It’s not that we can’t afford it, but we just don’t want to be overpaying.”
The marketing for the two properties was done by Michael Gibson at estate agents Kay &amp; Burton.
The purchases by Chinese buyers comes in despite China tightening the screws to contain capital outflows from the country.
The equivalent of $275 billion exited the country via yuan payments through the 12 months to October 2016, versus a $101.5 billion inflow in the same period of 2015, as the Chinese currency weakened to an eight-year low against the dollar, Bloomberg reported.
Last month, Federal Treasurer Scott Morrison had ordered the forced sale of 15 residential properties in Victoria and Queensland bought illegally by buyers from China, India, Indonesia, Iran, Malaysia, the UK and Germany.  Of the 15, six were owned by Chinese.
“Last year there was half the number of transactions as there were the year before — you’ll find this quarter there’s even less,” Morrell said.
“And you only need to drive around Toorak and see why — everyone’s renovating.”
A five-bedroom Victorian terrace on about 1050 square metres at 1 Cross Street is believed to have sold for about $8 million to a local buyer.
Kay and Burton declined to comment on any of the prices, but said three of the four properties were sold to local families.
"Local buyers have been out in force this year, greater than last year,” Gibson said. 
“Not everyone gets off an aeroplane and buys a property — that happens infrequently these days,” he added.
</body></html>

prateek24-ezbwHMbNAk

Chinese buyers outbid locals at private Toorak auctions

<html><body>
Asian outbound real estate investment was dominated by Chinese investors in 2016, accounting for almost half – 47 percent or US$28.2 billion - of the total capital transacted during the period, with Sydney among the top five for outbound investment, according to real estate firm CBRE.
CBRE Institutional &amp; International Investments NSW director Michael Andrews said while Australia remained highly sought after by mainland Chinese capital, demand from other Asia markets was also strengthening.
“Chinese investors remain active in deploying capital offshore into the Australian market, with the majority of this targeting residential development sites and/or income producing assets that are capable of being converted to residential,” Andrews said.
“Offshore capital flows continue to strengthen in the Australian market, with new and increasing mandates from existing investors and also emerging capital from markets such as Japan that we haven’t seen for some time.”
While office assets in the core Sydney and Melbourne CBD markets remain strongly sought after, there is also an emerging shift in sentiment towards emerging secondary markets in these locations.
“There is a very strong appetite from global capital for quality office investments. The change we are seeing however is in their growing acceptance of markets outside of the CBD core – such as North Sydney, Parramatta and Macquarie Park in New South Wales, and St Kilda Road in Melbourne,” said Andrews.
For the second consecutive year, CBRE figures reveal that the US remained the most favoured destination for Asian capital, drawing 43% of the overall total, followed by EMEA as the second-favoured at 27 percent.
Pacific attracted 7 percent - or $4.4 billion - of the overall investment turnover, with 53 percent of this injected into the Sydney market.
New York surpassed London as the top metropolitan destination for outbound investment in 2016, however, it contributed to a smaller share compared to 2015. 
The total top five destinations — New York, London, Hong Kong, Seoul and Sydney — contributed to 37 percent of the overall total, a decrease from 42 percent y-o-y, revealing that investment was spread across more diverse destinations. 
Andrews said Asian investors were seeking out assets in more diverse markets, with greater demand emerging for more niche opportunities.
“The shift towards counter cyclical investment is gaining some momentum, with Asian investors showing more willingness to invest in secondary locations in addition to alternative sectors outside of the traditional office assets – such as student housing and healthcare,” Andrews added.
CBRE Global Capital Markets executive director, Yvonne Siew, said outbound investment activity by Asian investors remained robust, with institutional investors continuing to lead investment activity, contributing to six of the top ten biggest outbound deals of the year.
“Despite recent policies by the government restricting Chinese outbound investment, there continues to be a steady flow of Chinese capital overseas as investors seek to diversify their portfolios,” Siew said. 
“With more scrutiny on cross-border capital flows and rigorous checks by the government which may lengthen the approval process, Chinese outbound real estate investment may moderate, gathering at a more sustainable rate.
Instead of larger transactions, Chinese investors may simply opt for a higher number of smaller deals. She said Chinese appetite for global real estate investment will remain solid but more cautious.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Chinese capital dominated Asian foreign real estate investment in 2016: CBRE

<html><body>
New figures showed foreign buyers account for 11 percent of all NSW property purchases.
Figures released under Freedom of Information laws from the NSW Office of State Revenue show that foreign nationals accounted for 11 percent of the 28,141 residential homes purchased in NSW from July to September last year.
Chinese purchased over 32 percent of the properties, followed by British and New Zealanders at 10 percent each and Indians at 6 percent. 
The figures came after the NSW government imposed a four percent surcharge on stamp duty for property purchases by foreigners along with a 0.75 percent land tax surcharge.
The NSW Opposition obtained the information and today called on the NSW government to raise property taxes for foreign buyers.
They suggest lifting the surcharge on stamp duty to 7 percent and lifting the annual land tax surcharge from the current level to1.5 percent which would bring NSW into line with the surcharges imposed by Victoria last year.
ALP leader Luke Foley said lifting property taxes on foreign investors would ease the pressure on first home buyers who the figures show now account for just 7.5 percent of total sales.
The Office of State Revenue figures show that foreigners now account for about 15 percent of the state duty paid in the period, much more than their share of purchases which suggests the stamp duty surcharge is raising considerable revenue.
The figures show buyers from Nepal and Malaysia (at 3 per cent) followed then purchasers from Korea, Vietnam, the US and Indonesia (2 per cent).
Over a three-month ­period last year, 2995 properties were sold to foreign buyers, raising $115 million in stamp duty. By comparison, $766 million in stamp duty was paid by Australian nationals in the same period, the Daily Telegraph reportedly exclusively.
Under the foreign duty surcharge at present, a buyer paying stamp duty on a property worth $2 million would have to pay $95,490 plus 4 per cent on the $2 million, which would be an extra $80,000.
 
</body></html>

Chinese lead foreign buyers who snap up one in 10 NSW property sales

<html><body>
<div class="cq-article-content-paras section">
Alibaba Australia are looking at listing apartments on its platform for Chinese consumers in Australia.
Following the launch of its first Australia office in Melbourne on Saturday, the $328 billion, US-listed company have discussed including realestate on their platform.
The e-commerce platform focuses on small businesses selling products popular with Chinese consumers, such as agricultural products and vitamins.
John O'Loghlen, Alibaba's Australia New Zealand business development director told the Australian Financial Review that it has been discussed internally.
<div>
"This space is [currently] well serviced by the market and the Monika Tu's of the world and they do a good job," he told the AFR.
"Our focus is on small businesses but we've discussed it [selling real estate].
"It is possible, as it is an area that is changing so fast.
</div>
<div>"Alipay is the dominant platform for these transactions, but it is important that the Australian and Chinese tax bureaucracies are transparent.</div>
<div> </div>
<div>"We are incredibly aware of the flows of money that it will attract."</div>
<div> </div>
<div>The plans would not be immediate.</div>
<div class="cq-article-content-paras section">
Alibaba has shown interest in recent months in the property section, making a $3.5 billion bid for Intime Retail Group, a Chinese department store chain.
It will allow Alibaba's online customers to pick up orders from stores quicker with access to the department store's inventory.
Executive chairman and founder Jack Ma told the Financial Review that there were no immediate plans to buy a shopping centre in Australia.
He did suggest however that he believes there should be an alignment of online and offline shopping businesses.
"For sure one thing is Chinese people like Australian products, but demand is still huge," he told the AFR at the launch in Melbourne on Saturday.
"When we build new retail, we want to combine online and offline together.
"I don't believe pure online businesses can last forever.
"So, while our businesses grew tremendously last quarter, we also saw the decline of traditional retail." 
There are only two Chinese platforms that would rival Alibaba's interests, ACProperty.com.au, sister site Sodichan.com and Juwai.com's new platform with Tencent.
Alibaba's immediate focus will be on getting small businesses onto the platform.
"Australia has the potential to do business with China," Ma said.
There are 500,000 Chinese [nationals] in Sydney and 300,000 in Melbourne.
"These people love Australia and Australian products and they also understand the Chinese market."
 
</div>
</div>
 
</body></html>

jchancellor-FAypfDUnLy

Alibaba Australia discusses listing apartments to Chinese consumers

<html><body>
The $14 million former Mosman residence of securities trader Neale Muston has been bought by the family behind one of China’s leading fashion brands, Goelia.
The Casey Brown Architects-designed residence sold late last year through McGrath agents Michael Coombs and John Melville.
The buyer’s agent Deborah West was amid the negotiations which fell short of the $14.5 million plus price guidance.
The purchaser has emerged as Daisy Dongying He, wife of Goelia president Gordon Qiming Hu.
The couple own on South Australia’s Kangaroo Island where they have development plans for a tourism retreat on their 100-hectare winery.
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firstname1-iYD4UYzvBa

Neale Muston sells Mosman home for $14 million to Chinese fashionista family

<html><body>
In the final five months of 2016, mainland Chinese developers snapped up three-quarters of Melbourne development sites on the market through CBRE.
As they shrugged off concerns about apartment oversupply, tougher planning rules and higher property taxes, CBRE calculated that 75% of the 45 Melbourne development sites they transacted between August and December were sold to Chinese buyers.
Less than one in five sales were to Chinese groups in the first seven months of the year as Chinese government capital control measures and uncertainty about the federal election in Australia affected developer interest.
"We've sold more properties to Chinese buyers in the past five months than in any other five-month period since 2009," said CBRE national director Mark Wizel.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="97">
Property
</td>
<td valign="top" width="99">
Buyer
</td>
<td valign="top" width="71">
Price ($m)
</td>
<td valign="top" width="118">
Project
</td>
<td valign="top" width="52">
Permit
</td>
</tr>
<tr>
<td valign="top" width="97">
7-23 Spencer St (CBD)
</td>
<td valign="top" width="99">
Nuway Wy
</td>
<td valign="top" width="71">
97.0
</td>
<td valign="top" width="118">
Over 1000 apartments
</td>
<td valign="top" width="52">
Yes
</td>
</tr>
<tr>
<td valign="top" width="97">
Corner King and Little Lonsdale St (CBD)
</td>
<td valign="top" width="99">
Aurumstone
</td>
<td valign="top" width="71">
43.8
</td>
<td valign="top" width="118">
430 apartments
</td>
<td valign="top" width="52">
Yes
</td>
</tr>
<tr>
<td valign="top" width="97">
Norvel Estate, Ferntree Gully
</td>
<td valign="top" width="99">
Hong Se Int’l
</td>
<td valign="top" width="71">
37.0
</td>
<td valign="top" width="118">
Townhouse village
</td>
<td valign="top" width="52">
No
</td>
</tr>
<tr>
<td valign="top" width="97">
615 Warrigal Rd, Ashwood
</td>
<td valign="top" width="99">
Hong Se Int’l
</td>
<td valign="top" width="71">
36.0
</td>
<td valign="top" width="118">
Mixed-use apartments
</td>
<td valign="top" width="52">
No
</td>
</tr>
<tr>
<td valign="top" width="97">
85 Spring St (CBD)
</td>
<td valign="top" width="99">
Chinese developer
</td>
<td valign="top" width="71">
85.0
</td>
<td valign="top" width="118">
230 apartments
</td>
<td valign="top" width="52">
Yes
</td>
</tr>
<tr>
<td valign="top" width="97">
250 Sturt St, Southbank
</td>
<td valign="top" width="99">
Tiang Long
</td>
<td valign="top" width="71">
11.0
</td>
<td valign="top" width="118">
16 storey hotel
</td>
<td valign="top" width="52">
Yes
</td>
</tr>
<tr>
<td valign="top" width="97">
150-152 Bridge Rd, Richmond
</td>
<td valign="top" width="99">
Poly
</td>
<td valign="top" width="71">
16.0
</td>
<td valign="top" width="118">
Townhouses
</td>
<td valign="top" width="52">
No
</td>
</tr>
<tr>
<td valign="top" width="97">
Three Point Cook sites
</td>
<td valign="top" width="99">
Dahua
</td>
<td valign="top" width="71">
350.0
</td>
<td valign="top" width="118">
3000 houses
</td>
<td valign="top" width="52">
No
</td>
</tr>
<tr>
<td valign="top" width="97">
Sayers Rd, Tarneit
</td>
<td valign="top" width="99">
New Sky
</td>
<td valign="top" width="71">
60.0
</td>
<td valign="top" width="118">
800 houses
</td>
<td valign="top" width="52">
Yes
</td>
</tr>
</tbody></table>
The Australian Financial Review calculated that there has been more than $730 million worth of Melbourne development site sales to Chinese developers since August.
These included acquisitions by Dahua and Poly, and new entrants like Nuway Wy, which paid $97 million for the former Melbourne convention centre site with a permit for 1000 apartments.
Wizel said the convention centre site would have sold for $400 million were it in Sydney.
"Chinese developers see a lot of value in Melbourne and they are willing to accept a lower return because they can save money in other ways, such as by selling apartments directly into China and avoiding paying local estate agent commission fees.," he said.
"They also have a better read on demand from China for housing than we have. They wouldn't buy these sites it if they didn't have the end buyers."
Jiaheng Chan, managing director of Malaysian-backed developer Beulah International, said Melbourne appealed for all the reasons it was named the most liveable city in the world for six consecutive years.
He added a major drawcard for Melbourne is the education system and the quality of schools and universities.
Wizel said he expected a rise in activity in 2017 from some of the big Chinese developers including Greenland, Fosun, Vanke, Wanda and R&amp;F, who were relatively inactive in 2016.
He noted that Chinese groups were also expanding their activities beyond development sites.
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Chinese developers surge into Melbourne again for apartment sites

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As the Chinese usher in the Year of the Rooster, it may be timely to look afresh at property investing in Australia in light of some new rules around foreign investments, especially because Australia remains a favourite with Chinese investors. 
The rooster is said to be the most motivated animal in the Chinese zodiac. Historically and symbolically, the rooster’s crowing acted as a wake up call to start work.
The Chinese New Year starting on January 28 could well be another year of flourishing property investing in Australia for the cashed up Chinese investor. 
To download our handy guide, Buying property in Australia in 2017, the Chinese Year of the Rooster, <a href="https://www.propertyobserver.com.au/images/2017/01/Year_of_the_Rooster/2017_Rooster.pdf" target="_blank">click here.</a>
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Buying property in Australia in 2017, the Chinese Year of the Rooster

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One Melbourne property developer is offering a generous 25-year rental guarantee in a bid to lure Chinese buyers back to the market.
It was offered to clients of China's biggest online real estate agency, Fang.com, The Australian Financial Review has reported.
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<div>Other developers like Volaire apartments, at <a href="https://www.realestate.com.au/property-apartment-vic-west+melbourne-123861814" target="_blank">9 Dryburgh Street, West Melbourne</a>, have discounted prices. </div>
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<div>The discounts in Volaire are via cash rebates equivalent to around 7 per cent of the apartment's value.</div>
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Chinese buyers being enticed to Melbourne with price discounts and 25 year rental guarantee

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The sale of Australian agricultural land, including cattle stations, hobby and commercial farms hit $16.79 billion in the year to August.
The Federal Treasurer Scott Morrison has now approved another big sale - the Kidman cattle empire for around $380 million to the syndicate of mining magnate Gina Rinehart and a Chinese company.
The sales process too around 20 months.
"I have decided that the acquisition of Kidman as proposed would not be contrary to the national interest and will be permitted to proceed," his statement advised.
It is the third attempt by Chinese interests to buy into Australia's largest private landholder with Mrs Rinehart's Hancock Prospecting to own 67 per cent of S Kidman and Co with partner Shanghai CRED .
Their joint-venture company Australian Outback Beef (AOB) acquistion will not include the defence-sensitive Anna Creek Station or The Peake which will be sold to a local South Australian grazier family.
The 117-year-old family company, founded by Sir Sidney Kidman, has pastoral leases covering 101,000 square kilometres across Western Australia, the Northern Territory, Queensland and South Australia.
In a video released by Hancock Prospecting, Mrs Rinehart said it was an "exciting day" as she had long wanted to diversify.
"Right now all our eggs are in the iron ore basket," <a href="https://www.youtube.com/watch?v=IfXPaWdDLOk" target="_blank">she said</a>.
"Now to become the third largest producer of cattle in Australia I think it's just great.
"I see an ongoing need for meat particularly in the Asina region and most of our cattle from Australia, three quarters, we export.
"And of course the value of the land over decades is going to keep increasing and increasing."
Hancock Prospecting CEO Gary Korte said the herd size will be increased from the current 150,000 head to its full carrying capacity of 185,000.
Agricultural property sales in NSW totalled $8.2 billion over the period, an increase of 3.8 per cent according to the Landmark Harcourts' quarterly Benchmark Report with some 12,519 agricultural property sales.
One of the biggest deals included the Deltroit Station in the Gundagai district of NSW when MH Premium Farms, the Australian agricultural operation of global fund manager Sir Michael Hintze, bought the 2573 hectare holding.
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In Victoria the total value of agricultural property sales came in at $3.7 billion over the year, down 13.3 per cent on the total value of sales achieved in the 12 months to August last year.
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<div>In Queensland, agricultural property sales totalled $1.7 billion over the year with lower volumes, though the value of sales was 3 per cent higher than the prior year.</div>
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Queensland has has spring sales including cattleman Peter Hughes buying Tumbar station south of Jericho in central Queensland for about $57 million. In SA, the total value of agricultural sales was $964 million over the 12 months to August 2016, 14.5 per cent higher than the 12 months to August. 
In WA, the total value of the agricultural sales was $1.7 billion, 2.9 per cent  above the previous year.
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In Tasmania, agricultural property sales totalled $526 million over the year, 9.5 per cent lower than the previous year.
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Gina Rinehart secures Kidman cattle empire for $380 million

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The Australian columnist Robert Gottliebsen says the Australian apartment market is close to a meltdown.
He suggested Australia faces the potential of Chinese walking away from apartment settlements at the rate of between $1 billion and $1.5 billion a month for a year or two.
"In the worst case scenario a large number of apartment developers go to the wall taking with them many unsecured suppliers," he wrote.
He advised that Sydney’s Harry Triguboff went into the crisis without debt and can cushion the impact on the city.
"Melbourne and to a lesser extent the already depressed Brisbane will feel the full force of any disaster," the veteran columnist advised.
He added that much was being done to reduce or avoid the above scenario taking place.
He said that the Australian apartment developments are in three baskets:
First, those being developed by large well-capitalised enterprises like Meriton or the listed apartment developer.
Second, those being developed by developers with big Chinese backing and funded by Chinese banks. They are highly leveraged;
Third, developers funded by Australian banks.
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