Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Foreign Buyers

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The NSW foreign investor land surcharge will increase to 2 percent per annum (from 0.75 percent per annum) with effect from 31 December 2017 for the 2018 land tax year.
The land tax surcharge was introduced in NSW with effect from 1 January 2017 to be imposed on owners of residential land who are 'foreign persons'.
The surcharge also extends to trusts that own residential land which have beneficiaries that are 'foreign persons'.
The land tax surcharge provisions are very broad and will catch discretionary trusts if the trust deed has a broad definition of beneficiaries, which is typical of most discretionary trust deeds.
Lawyers Meyer Vandenberg have warned "in this global age, given the wide class of beneficiaries," there is a high chance that a family member includes someone of international origins who is not an Australian or New Zealand citizen.
If any of these potential family members themselves meet the definition of 'foreign person' or invest in a company that meets the definition of a 'foreign person', and the trust owns residential land in NSW, then the trustee is liable for the land tax surcharge.
"Our federal politicians are having to re-look at their family origins (though to confirm their eligibility for holding office!)," Meyer Vandenberg told its clients.
"It is a timely reminder to also consider reviewing your discretionary trust deed and your family situation.
"If the trust owns residential land in NSW or is considering owning residential land in NSW in the near future, it is worthwhile getting advice."
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j.ballantyne1990-6AQqhLzZaK

NSW foreign investor surcharge increased from December 31, 2017

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Regulatory moves to tighten lending to foreign buyers seem to be working, with their share in new property markets falling to a five-year low 9.5%,  according to a NAB index.
However, the share of foreign buyers edged up to 5.9% in established markets, albeit still near four-year lows. 
The figures are part of NAB’s Residential Property Survey for the quarter ended September. 
The data was cited by CoreLogic’s head of research Cameron Kusher.
“NAB's quarterly residential property survey indicates that there has been a big pullback in foreign demand for residential property,” Kusher tweeted. 
NAB’s note had said that “we have maintained our view for more muted market performance going forward, particularly following our revised expectations for RBA rate hikes which have been brought forward to mid-2018 (from H2 2019)”.
<a href="https://www.propertyobserver.com.au/images/2017/10/17/NABForeignDemand.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/17/NABForeignDemand.png" alt="">
Victoria had the lowest foreign buying activity in new property markets, where the share of sales to foreign buyers fell to 14.4% (20.8% in Q2). 
Foreign buyers were also noticeably less prevalent in NSW, where their market share fell to 7.8% - its lowest level since Q1 2012 and down from 12.0% in Q2. The proportion of foreign buyers in new property markets also fell in WA to 4.5% (6.9% in Q2). In contrast, foreign buyers increased their market share in Queensland to 11.4% (8.6% in Q2) despite the introduction of a foreign investor land tax surcharge in July 2017. 
<a href="https://www.propertyobserver.com.au/images/2017/10/17/NABgraph2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/17/NABgraph2.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/10/17/NABgraph3.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/10/17/NABgraph3.png" alt="">
In established housing markets, the overall share of foreign buyers rose a little from 5.6% to 5.9% in Q3, but remained anchored at near 5-year lows. 
Foreign buyers accounted for a smaller share of sales in Victoria (8.0% in Q3 vs. 9.0% in Q2), NSW (5.6% vs. 5.9%) and WA (4.2% vs. 4.5%). 
In Queensland, however, they accounted for 6.7% of established property sales, up from 3.8% in Q2. 
 
 
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ckusher-ujnxiKuFQs

NAB survey indicates pullback in foreign buyers: CoreLogic's Cameron Kusher 

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Foreign buyers, mostly Chinese, are buying a quarter of new housing supply in NSW, with Credit Suisse forecasting a "stronger-for-longer" scenario for the housing sector.
After analysing foreign buyer receipts, the trend is also strong in Victoria, with foreign buyers accounting for the purchase of 17 per cent of new housing. In Queensland, it is 8 per cent.
"Almost 90 per cent of foreign demand is from China and there is little evidence that new capital controls by the Chinese authorities, announced in December 2016, have slowed demand for Aussie housing," the analysts, Hasan Tevfik and Peter Liu advised.
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"We think the tailwind of Chinese wealth creation will mean more, not less, foreign buying of Aussie housing.
</div>
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"Chinese demand suggests we ought to remain skeptical of a collapse," they wrote.
"Residential exposed companies should benefit including the developers, building material companies and banks."
Using Freedom of Information requests the Credit Suisse report collates tax receipts collected by the state revenue offices in the three east coast states in 2016-17 financial year.
</div>
<div class="cq-article-content-paras section">
It found foreign buyers bought $5.9 billion in residential property in NSW, along with $3.4 billion in Victoria and $700 million in Queensland.
While the housing market, is worth $5.6 trillion in the three east coast states, the report notes, it represents a large proportion of the value of new housing supply.
From July 1 this year, NSW doubled the stamp duty on foreign buyers to 8 percent and increased the land tax surcharge from 0.75 per cent to 2 per cent.
Victoria and Queensland impose taxes on foreign buyers of residential property of 7 percent and 3 percent, respectively.
On the question of whether the recent increases in tax will be enough to reconsider and cause house prices in Sydney to decline, Credit Suisse advised international experience suggests not," the Credit Suisse analysts wrote.
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Chinese new housing purchasing to ensure Sydney and Melbourne markets remaining stronger for longer

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Foreign buyer-funded new apartment sales will more than halve over the next three years, latest forecasts by MBA show. 
It comes as local banks cut back funding to overseas buyers, along with the higher surcharges and taxes levied by state governments.
The MBA forecasts commencements of new units supported by foreign purchases will fall from the rolling 12-monthly peak of 48,251 in June last year to 23,304 in June 2019.
The group's latest Industry Forecasts Australia June 2017 report says foreign investor activity is expected to "fall considerably" in the next two years as recent moves by the commonwealth government and by the NSW state government tighten restrictions on foreign property buyers.
The report predicts apartment construction in NSW to fall by almost 40 per cent over the next four years, noting the NSW market with its high reliance on domestic and offshore investors will face the biggest correction as Australia's biggest-ever housing construction boom slows. 
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Foreign buyer-funded new apartment sales will more than halve over the next three years

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GUEST OBSERVER
As someone who’s been working with property clients across three market cycles now, I’ve certainly lived through the aftermath of many Federal Budget announcements, and the latest iteration is no different.
While for many their first response is to begin poring over the finer details of the budget with their advisors, looking for latent loopholes, the smart operators will have recognised that the 2017-18 Budget actually provides a number of new opportunities.
What is abundantly clear is that if you take the time, Treasurer Morrison’s budget already gives the property sector, and in particular developers, the “answers to the exam”, by highlighting market segments that could (and should) receive more attention.
For instance, the Budget incentivises empty nesters nearing retirement to leave their family home and downsize. For developers, this presents an opportunity to invest in more developments targeting the empty nester market, but rather than marketing these developments to "over 55s", an alternative approach may be to focus on a desirable standard of living for this generation of buyers.
Meanwhile, first home buyers are being enticed to save for a property deposit by topping up their super at the marginal tax rate. The jury's out on whether this change will actually help young buyers, but the intention is good. Again, developers may consider this as an opportunity to create more innovative first home buyer packages, helping them shift existing stock that may already be slower to sell anyway.
Another key point relates to foreign investment in new properties, with a Federal clampdown and rising State Government charges blunting the sales edge previously enjoyed by some offshore-owned development companies. On the other hand, you could take the view that it's an opportune time for these same companies to focus more of their creativity and marketing spend on Australian buyers.
So to anyone in property still trying to get to grips with this Federal Budget, I suggest they consider it an opportunity rather than an obstacle, and consider altering their approach to adapt to the changing environment. Developers who don't do so risk being left behind. 
<a href="https://www.capital.com.au/" target="_blank">John Quinn</a> is the founder of The Capital Group.
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Treasurer delivers property sector the ‘answers to the exam’ with latest budget: John Quinn

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The Australian government, seeking to address the perceived issue of foreign buyers hoarding properties, will enact a new tax on any vacant properties owned by foreigners.
"This measure is intended to encourage foreign owners of residential property to make their properties available for rent where they are not used as a residence and so increase the number of dwellings available for Australians to live in."
The new charge will come into effect as of Tuesday night's budget and will be levied annually.
It will bring in $16.3 million over the forward estimates being monitorred by the Australian Tax Office.
There are few details on its implementation. The Victorian tax will be self-reporting. 
Julius Wei, Co-Founder and Head of Investment Analysis at BMY Group said while the plan of a ‘ghost property tax’ doesn’t come from a bad place, though the structure of taxing only foreign investors is "however missing the target." "As the locals definitely hold way more investment properties (considering the negative-gearing advantage they enjoy) than foreign buyers, the tax should apply to all vacant property holders regardless of whether they are local Australians or foreign investors. "This is again more political than directly tackling a financial and economic problem of saying we don’t welcome foreigners, despite local investors have way more influence on the property market.
"At a time when the Australian domestic demand is in deep trouble (checking today’s disastrous retail sales figures), the country should welcome foreign sources of investment, talent and buyers of its exports, not doing the opposite to shut the doors," Julius Wei said.
The Property Council of Australia chief executive Ken Morrison said the vacant property chrarge was a waste of money.
"We have not seen any evidence that the 'vacant property' issue is real," Mr Morrison said,
"It appears to be a policy seeking to solve an 'urban myth'.
Mr Morrison said that the tax "will cost more to administer than it will raise."
"This measure will not improve housing affordability one iota," he told The Australian Financial Review.
Earlier this month Property Observer reported that foreigners who leave their home vacant could be taxed at a Federal level.
Soon after Juwai's Gavin Norris reported on what the new Victoria vacant property tax means for residents.
Similarly earlier this year Property Observer reported that Victoria was to implement a new vacant property tax to tackle its housing affordability issue.
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2017 Budget introduces 'ghost home' tax for foreign purchasers of vacant kept Australian property

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Foreign investors are facing a tax crackdown under the Budget package.
As of Tuesday's budget, foreign and temporary tax residents will no longer be exempt from a capital gains tax when selling their main residence in Australia.
Capital gains tax rules are being tightened for foreign investors, who will no longer be able to access the main residence exemption.
The new rule starts on budget night but will be grandfathered for existing properties until June 30, 2019, suggesting there might be an exodus arise to avoid paying the extended tax.
The Australian tax law is already complex when it is applied to domestic transactions, but its complexity increases when multiple jurisdictions and foreigner taxpayers are involved.
Accountants advise when evaluating Australian property as an investment, a foreign investor needs to fully understand their taxation obligations in both Australia and their own country of residence, which often requires the engagement of tax specialists in both countries.
It is suggested an individual will be an Australian tax resident if they reside in Australia or in Australia for over 183 days in the year of income.
Even though Australian tax residents will be taxed on worldwide income and the individual top marginal tax rate is relatively higher, there had been benefits of being tax residents until the budget announcement, including:
<ul>
<li>Access to the 50 percent CGT discount if the CGT asset is held for greater than 12 months;</li>
<li>Their main residence will be exempt from CGT upon sale (this would generally not apply to non-residents); and</li>
<li>There is no foreign stamp duty surcharge.</li>
</ul>
The withholding rate on capital gains tax that foreigners must pay when they sell property will increase to 12.5 percent from 10 percent beginning from July 1.
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Foreigners lose capital gains tax exemption on main residence 

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Laurance Wines in Western Australia has been sold to a US investor for $30 million.
New York based real estate developer and wine enthusiast Howard Milstein has purchased the property which will be partly leased to the Oatley family and Larry Cherubino Wines.
Brian Moultan, ACTON South West director said he believed the deal to be the highest value vineyard sale of all time.
“We sold Clairault six years ago for $16 million, but there’s been nothing beyond that that I’m aware of,” he told Business News.
“It’s good that valuers in the future now will have to consider this price per hectare of land and price per hectare of vines, but it’s still a pretty tough market – there is still a degree of nervousness out there,” Mr Moulton said.
Mr Moulton is also actively marketing Edwards Wines, a family-owned estate near Cowaramup that he said was also attracting significant interest, particularly from foreign investors.
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New York real estate developer buys WA's Laurance Wines 

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The Brexit result in the United Kingdom, coupled with additional real estate taxes to be levied on foreign buyers in NSW and Victoria, will likely make Perth more attractive to overseas investors, according to leading real estate group Raine &amp; Horne.
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Paul Curran, principal of Raine &amp; Horne Rockingham Beach, believes the decision by the UK to leave the European Union following the referendum will prove to be good news for Western Australian property markets.
“The combination of a lower Australian dollar, property affordability and Perth’s proximity to Asia is already a plus for foreign investors,” said Curran.
“The decision by the English to leave the EU has also created financial market instability, which will encourage more foreign investors to seek safer asset havens such as Western Australian real estate.”
Curran said the so-called Brexit vote followed hot on the heels of the decisions by the NSW and Victorian state governments to hike up stamp duty imposts on foreign buyers.
The NSW government has imposed a 4% stamp duty surcharge on the purchase of residential property by foreign purchasers that commenced from Budget day, June 21, and a 0.75% land tax surcharge on residential real estate owned by foreign persons commencing in the 2017 land tax year.
As of this month, Victoria will have a 7% foreign investor surcharge on residential stamp duty and 1.5% surcharge on some land tax.
Curran said the new taxes will encourage foreign buyers to consider property markets such as Rockingham Beach longer-term, where it’s possible to secure quality real estate, which is priced well below the median prices in Melbourne and Sydney.
In Perth, the median dwelling price is $506,000, according to CoreLogic, compared to $782,000 in Sydney and $590,000 in Melbourne. In the city’s south west, median house prices in Rockingham are $448,000 and $330,000 for apartments.
“It is early days for the Brexit decision, and foreign buyers are just starting to absorb the longer-term ramifications of these additional taxes in the eastern states,” said Curran.
“Excluding the new taxes and the Brexit result, we expect to see more foreign capital finding its way to Perth, with our affordable real estate prices very popular with overseas buyers.”
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Perth to profit from overseas funds after Brexit and NSW, Victoria property taxes: Raine & Horne

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House price growth in Sydney and Melbourne is set to halve over forthcoming months, according to the HSBC chief economist Paul Bloxham.  
Sydney and Melbourne house prices grew 13 percent and 14 percent respectively in the year to May, with Bloxham expecting this to decline.
He suggests tighter lending standards, an oversupply of apartments and the escalation of the taxation of foreign buyers to weigh on the market.
He forecasts national growth to slow from the national 9 percent in 2015 to around 4 percent to 5 percent later this year.
The 2017 house price growth will be even slower - between 0 percent and 5 percent, he tips.
He said the re-acceleration of housing prices was "somewhat surprising, given continued tight lending standards and slowing credit growth."
Bloxham expects further tightening of lending standards should there be a strong pick-up in investor borrowing.
"A cooling of the housing market is expected to leave the RBA with room to consider cutting its cash rate further in coming quarters, if needed," he said in a note to clients obtained by Fairfax Media.
"Given the already strong gains in recent years in Sydney and Melbourne, the authorities have been seeking to cool the housing market in these cities."
Mr Bloxham points to solid demand from foreign buyers as one of the main causes for the impressive growth.
In particular, Chinese demand for Australian residential property has been a key driver in the recent fall of the Australian dollar against the yuan, offsetting the increase in Australian dollar-denominated housing prices since 2012.
"In short, Australian housing is just as cheap now for a Chinese buyer as it was four years ago and has become more affordable relative to property in most Chinese urban centres," says Mr Bloxham.
While it is difficult to measure the scale of foreign demand, statistics from the Foreign Investment Review Board suggest approvals have seen a sharp 20 per cent increase of total housing market turnover in 2014-15.
However, new stamp duty and land tax surcharges imposed on foreign buyers will be implemented in NSW, Queensland and Victoria, and are likely to stall foreign demand.
"Foreign purchases could partly explain the recent ramp-up in Sydney and Melbourne housing prices," says Mr Bloxham.  
"We expect recent increased taxes and changes to local bank lending practices are likely to weaken this source of demand in coming quarters."
 The oversupply of apartments will be the third factor prompting house price growth to halve by year's end, though Mr Bloxham concedes it won't happen for a while yet.
"Our estimates suggest that, although there has been a strong ramp-up in apartment construction, we are yet to reach the point of balance in the national housing market."
Bloxham points out apartments account for only 24 per cent of the national housing stock.
"We expect that apparent oversupply in the apartment markets in Brisbane and Melbourne may see some unit price declines in these cities, but we expect the detached housing market to continue to see modest price gains," says Mr Bloxham.
 
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