Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

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Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

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Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

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The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

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Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

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“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

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Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Foreign Buyers

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The overall share of foreign buyers in Australian property markets fell to a two-and-a-half year low in both new and established property markets in the first quarter of March, according to NAB's latest Residential Property Survey.
Foreign buyers accounted for just 11.8% of total new property sales (14.4% in Q4), while it was 7.2% in established property markets (8.6% in Q4).
In new property markets, foreign buyers fell to 10.7% in VIC (16.4% in Q4) - its lowest level in two years and significantly below survey high levels of 32.5% in Q4’14. Foreign buyers were also less prevalent in NSW, where their market share fell to 11.1% (11.7% in Q4). This down from a survey high 21% in Q1’15 and now at its lowest level since Q4’13. In WA, foreign buyers of new property accounted for just 2.9% of total demand (5.8% in Q4) down from around 10- 11% in the first half of 2015.
In contrast, the share of foreign buyers in new property markets in QLD continued to grow, rising to 21.9% in Q1’16 (20.9% in Q4). The market share of foreign buyers in new property markets has grown for three consecutive quarters and may suggest that they are being attracted by lower average prices there. In established property markets, foreign buyers accounted for just 7.1% of total demand in VIC - a 3 year low and down from 8.6% in Q4. Foreign buyers were also less active in NSW (7.8% vs. 9.4% in Q4) and QLD (6.7% vs. 8.9% in Q4), but they increased their market share in WA to a Survey high 8.8% (7.2% in Q4).
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Type of property purchased by foreign buyers
Overall, 51% of all foreign purchases of Australian residential property were for apartments (53% in Q4), 31% houses (32% in Q4) and 18% for re-development (16% in Q4). However, these ratios continue to vary widely by state.
In VIC, 39.4% of sales in Q1’16 were for apartments (down from 44.2% in Q4), 37.6% were houses (35.2% in Q4) and almost 1 in 4 (23.1%) was land for re-development (20.6% in Q4). In NSW, 54.6% of all properties purchased by foreigners were apartments (53.9% in Q4) and 29.9% houses (32.4% in Q4). The share of property bought for re-development purposes rose to 15.9% (14.1% in Q4). In QLD, apartments made up 58.8% of all sales (60.8% in Q4) - still by far the biggest share among the main states. Houses accounted for just 24.3% of foreign sales (26.4% in Q4), but purchases for re-development purposes climbed to 17.5% (12.8% in Q4). In WA, apartment sales accounted for 48.4% of all foreign purchases (50.8% in Q4), houses for 34.5% (29.8% in Q4) and land for re-development 17% (19.4% in Q4).
Price range of property purchased by foreign buyers
Around 31% of apartments purchased by foreigners were valued at less than $500,000 (33.7% in Q4) while 40% were valued between $500,000-$1 million (41.7% in Q4). Just over 16% were in the $1-2 million range (14.8% in Q4), with the number of sales in the $2-5 million range unchanged at 7.9%. Just over 1 in 20 foreign buyers (5.5%) purchased apartments valued above $5 million (3.3% in Q4). There remain some interesting differences across states. In the apartment market, more foreign buyers in WA (42.8%) purchased properties worth less than $500,000 than in any other state. In NSW, just 18.4% of apartment purchases were below $500,000, probably reflecting a lower stock of apartments at this price level. Almost one in two apartments purchased in QLD were in the $500,000-$1 million range, compared to just 34% in VIC.
<img src="/images/2016/04/20/Screen%20Shot%202016-04-20%20at%204.34.37%20PM.png" alt="" width="606" height="372">
It was also notable that one in four purchases in NSW were in the $1-2 million range, compared to around 12-14% in all other states. More foreign buyers in NSW (6.6%) and VIC (4.9%) purchased apartments valued over $5 million than in any other state. In the house market, around 63% of foreign purchases were valued below $1 million. Around 25% were for properties below $500k and 38% between $500,000-$1 million. Just over 23% of all house sales were in the $1-2 million range, 11% in the $2-5 million range and 4% over $5 million. By state, approximately 57% of houses sold to foreigners in VIC and 46% in NSW were valued below $1 million, compared to 72% in QLD and 82% in WA. Around 35% of houses purchased in NSW and 25% in VIC were valued between $1-2 million, with 15% and 13% of houses in NSW and VIC respectively valued between $2-5 million. Almost 7% of houses in VIC and just over 4% of houses in NSW were sold for more than $5 million. 
<img src="/images/2016/04/20/Screen%20Shot%202016-04-20%20at%204.36.06%20PM.png" alt="" width="600" height="336">
 
 
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jonathanchancellor-7SQnKwU6yx

Foreign buyers disappearing from Australian property market: NAB 

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Foreign investment legislation introduced into parliament last week implementing a penalty increase from $90,000 to $135,000 for serious breaches of real estate rules is welcome news, according to REINSW president Malcolm Gunning. 
The REINSW International Chapter has been alerted that many are being told to buy a property first and them make an application to the Foreign Investment Review Board second, he said, adding most foreign investors don’t come into Australia with the intention of breaking the law.
“They tend to seek advice from someone who they have been referred to who speaks their native tongue and this is where the problem lies because they are often taken advantage of and given incorrect advice.," he said.
“A major issue with foreign investment in the past was due to inadequate policing. We welcome the fee of $5,000 for properties valued at $1 million or less and higher fees to more expensive residential and agricultural properties as well as commercial real estate and business applications.
“We support new compliance powers granted to the Australian Taxation Office, which we believe is the appropriate place to find such transactions, and additional powers to the Foreign Investment Review Board."
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mick.cee-iDmgDDAmu8

REINSW welcome foreign investment reform

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Respondents to the the CoreLogic RP Data Nine Rewards Consumer sentiment survey are concerned about foreign buyers pushing prices higher across the housing market, with 73% of all respondents nationally indicating they thought foreign purchasing was making it more difficult to own a home. 
19% of respondents perceived foreign buyers were placing ‘Extreme upwards pressure’ on housing prices and 30% (the largest proportion) thought foreign buyers were exerting ‘strong upwards pressure’. Only 6% of respondents though foreign buyers weren’t effecting housing prices at all. 
The regions where foreign buying was perceived to make it most difficult for residents to purchase a home were Sydney, regional New South Wales, Melbourne and Tasmania where are least 79% of respondents perceived foreign buyers were making it more difficult for Australian residents to purchase their own home. 
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<a href="/images/2015/07/24/Screen%20Shot%202015-07-24%20at%202.07.00%20PM.png" target="_blank"> Click to enlarge</a>
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Source: CoreLogic RP Data Nine Rewards Consumer sentiment survey
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Are foreign buyers trumping locals attempting to buy property? CoreLogic RP Data

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The latest NAB Quarterly Australian Residential Property Survey found foreign buyers were less active in new residential property market acquistions, but had reputedly increased their presence in established markets, especially Victoria.
The percentage of foreign buyers in the new property market dropped from 15.6% to 12.8% in the latest quarter, according to the NAB survey that gathers feedback from property industry professionals on the current market.
NAB Group chief economist Alan Oster noted foreign buyers had increased their established home purchasing status, up from 7.5% to 8.6%.
Most foreigners buy newly built apartments and houses because of FIRB limits on non-Australian citizens buying established housing. Permanent Australian residents can, ofcourse, buy established houses and temporary residents can buy established houses too, but need to sell when they depart the country, under newly enforced FIRB regulations. 
Alan Oster suggested foreign buyers accounted for high sales volume especially in Victoria.
Units were favoured by foreign buyers, accounting for 16.1% of all apartment sales nationally in the second quarter.
Foreign buyers secured 28% of all new apartment purchases in Victoria and 16.5% in New South Wales. The July 1 Victorian Government tax on foreign buyers is likely to be behind some of the higher Victorian volumes coming in the weeks before its introduction.  
In Queensland they accounted for 13.1% of buyers and in Western Australia around 12.9%.
More than three quarters of foreign investors bought apartments valued at less than $1 million, with around 41% of those priced below $500,000.
More than 16% of all apartment sales were in the $1 million to $2 million price range.
Though NAB noted it was higher in New South Wales where foreign buyers were responsible for one in four purchases at that price and close to 12% at more than $2 million.
The figures are based on a National Australia Bank survey of 300 people working in areas such as real estate management, development and asset management.
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jchancellor-FAypfDUnLy

Foreign buyers securing 28% of all new apartment purchases in Victoria: NAB

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The $300 million plus marketing of Australia’s biggest landowner and historic cattle producer, S. Kidman and Co Ltd, is well underway.
Ernst &amp; Young Adelaide managing partner Don Manifold said EY had been flooded with "significant" interest in the prospect. The Australian Financial Review says there have already been 200 inquiries.
"It's gained a lot of attention from domestic and international bidders," Mr Manifold said, stressing it will be sold in one line.
Australia's biggest private rural landholding, which includes the world's largest cattle station, is up for sale by the pioneering company. 
Eleven cattle stations covering more than 100,000 square kilometres are set to be offered next month with documentation through Ernst and Young Adelaide.
S. Kidman and Co. is 98% owned by members of the Kidman family, represented by 58 shareholdings.
Not all wanted to sell, The Land reported, adding last financial year the company reported a net operating cashflow of $9.3 million and paid dividends of 20 cents a share. 
But it recorded a net after tax loss of $1.4m as herd numbers declined 15 per cent because of tough seasonal conditions to 182,350 head, and their livestock market value fell about $10 million to $97.4 million.
The cattle king Sir Sidney Kidman's first purchase was in 1886: Owen Springs south-west of Alice Springs.
The business still has cattle stations across Western Australia, the Northern Territory, Queensland and South Australia. 
Anna Creek Station in South Australia's outback is the largest at 23,000 square kilometres. 
"This is a world class asset of international significance," said Alex Thamm a rural valuer with Colliers International.
The Kidman family has $364 million net worth, as ranked 37th on the BRW Rich Family List, spread across family groups based in Australia, the United Kingdom and United States.
 
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200 inquiries as Sidney Kidman cattle farms offered in one line

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I was invited to speak at a recent property event in Singapore. I was booked and ready to go – and then pulled out when it became clear it wasn’t a research-based seminar for investors but an event designed to flog Brisbane off the plan units to Asian buyers in an oversupplied market. 
The event organisers wanted to censor my presentation, eliminating any information deemed unfavourable to the selling objective – particularly the vacancy rate figures.
Vacancy rate data is unflattering for central Brisbane – and is set to get considerably worse, given the high level of new supply in the construction pipeline. The Brisbane inner-city unit market is one of the locations I warn about in my No Go Zones report.
Marketing companies who are earning big money selling inner-city Brisbane units to unsuspecting foreign investors have been putting a politician’s spin on the situation – with some even claiming the city isn’t building enough apartments.
A research paper published by Matusik Property Insights puts those claims into perspective. It confirms that Brisbane’s inner-city areas already have high vacancies and the city is making matters worse by building too many new rental properties.
According to the Matusik report, the highest vacancies are all in the inner-city and near-city suburbs, headed by 6% in upmarket Ascot/Hamilton and 4.6% in the CBD/Spring Hill precinct.
The lowest vacancy rates in the Brisbane City Council region, between 1.5% and 2%, are all in the outer reaches of the municipality.
Overall, says Matusik, the Brisbane LGA has about 155,000 rental properties, of which an estimated 4,600 are vacant. This makes the city's overall vacancy rate about 3%, up from 2.5% a year ago. 
“The vacancy rate is rising and Brisbane is already adding more new rental properties than is required,” the report says. “This trend is likely to accelerate as more new rental dwellings are built across the city.”
The number of Brisbane rental properties has increased by 3,725 over the past 12 months. The current rate of rental supply in Brisbane is growing at twice the rate than is needed. Two thirds of this new rental supply is apartments and a further 30% is in townhouses. 
“Apartments now dominate the rental market in Brisbane, with a 45% market share. Houses come in second with 38%, followed by townhouses with 11%.”
The average vacancy rate across inner Brisbane is 3.6%, compared to 3.1% in the middle-ring suburbs and 2.4% in the outer suburbs. 
“Typically, a rental market is tight (rents rising) if the vacancy rate is under 2%,” the report says. “Between 2% and 3% represents a balanced market and over 3% suggests oversupply. 
“An increasing number of locations in Brisbane, typically the inner-city postcodes, already have rental vacancy rates over 3%. And new rental supply, especially new apartments, is snowballing across Brisbane. 
“Brisbane is unlikely to see much in the way of generic rental growth for some time to come.”
Brisbane is not alone. The No Go Zones report also warns about the inner-city apartment markets in Melbourne, Perth and Darwin, while noting that the Gold Coast is hurtling towards another boom-bust scenario.
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can <a href="mailto:%20&lt;script%20type='text/javascript'&gt;%20/n%20&lt;/script&gt;&lt;script%20type='text/javascript'&gt;%20%20&lt;/script&gt;This%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20&lt;script%20type='text/javascript'&gt;%20%20&lt;/script&gt;">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter</a>.
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Brisbane inner-city vacancy rate to get considerably worse: Terry Ryder

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Lola Wang Li has placed a caveat on the Point Piper property Villa del Mare to buy the trophy home from Golden Fast Foods Pty Ltd, a company associated with Chinese billionaire Xu Jiayin.
Lola Wang Li is married to Li Liang a wealthy former chief executive of the Hong Kong-listed China Power New Energy Development, which invests in renewable energy projects in mainland China.
Li currently resides in a $2.668 million apartment on Darling Island Road, on Pyrmont's waterfront which was bought eight years ago. It is a 192 square metre three bedroom apartment bought off the plan. 
She was born in China in 1966 at Fujian, on China's south eastern coast. She directs an Australian registered company called, L L International which was registered in 1996, when Vaucluse Road, Vaucluse-based. For a time the company was also registered at a $494,000 Peak, Haymarket apartment that remains in the Li family ownership. Members of the extended Wang family spent $5.1 million in Rose Bay in 2009.
The face saving May 2015 sale came after Treasurer Joe Hockey forced the divestment of the Point Piper home, arguing the sale to Xu Jiayin breached Australia's foreign investment rules.
Gibson Lawyers caveat says it was a May 8 sale, although it was announced as sold six days earlier by the Treasurer. It was only registered today, with price details to be lodged on its undisclosed settlement date. Peter Hudson and Norman Gibson appeared to be assisting with the legalities. 
Treasurer Joe Hockey told Reuters earlier this month the re-sale of the Point Piper trophy home, Villa del Mare had taken place.
It was advised an Australian buyer had been found by its the billionaire owner Xu Jiayin (許家印 also known as Hui Ka Yan).
“She has signed a statutory ­declaration that she is not associated with Golden Fast Foods in any way,” his office says.
There was a 90 day divestiture order Treasurer Joe Hockey that announced to force the sale of the $39 million Point Piper trophy home, Villa del Mare.
"The property that has been reported has been re-sold to an Australian citizen, and we are investigating around 100 other cases," Joe Hockey told Reuters. 
"In some cases people are disclosing their own failure to comply with the law."
The forced sale by one of China's richest men Xu Jianyin followed a crackdown on enforcing foreign ownership rules.
The head of the Evergrande Real Estate Group was given 90 days on March 3 to divest the property as it was deemed to have been bought without approval from the Foreign Investment Review Board.
Agents were not aware the property has been shown to buyers since the order.
The sale by the owner of the company, Chinese billionaire Xu Jianyin, has been billed as set to be followed by more divestment orders, with about 100 other cases currently being investigated.
 
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Australian buyer Lola Wang Li emerges with Villa del Mare, the $39 million Point Piper FIRB home

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GUEST OBSERVATION
Over the weekend the Andrews government announced a tax on foreign investment in Victorian real estate. This includes a 3% Stamp Duty surcharge and a 0.5% Land Tax premium. On top of the $5,000 foreign investment fee announced by the Federal government, this will add some much needed balance between those looking for housing and those wanting an investment.
However, we wait with baited breath for the devil in the detail. The one sure winners are Australian property investors who will enjoy less competition from foreign investors. A national property spruiker is currently touring the nation a seminar beckoning investors to enjoy their ‘unfair advantage’. Such a move by Andrews will do nothing to unwind local investor advantage.
In fact, this ‘reform’ may add further benefit to Australian investors. Whilst the policy announcement allows New Zealand citizens and those with permanent residency to enjoy their unfair advantage, we are yet to see the detail on Real Estate Investment Trusts (REITs) and property syndicates. Will foreigners be able to invest in local investment entities if under say a 20% capital threshold? REITs are already benefitting from the <a href="https://www.prosper.org.au/2015/02/24/the-foreign-investment-future/" target="_blank">Significant Investment Visa</a> program.
We are pleased to see<a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-05-02/foreign-home-buyers-set-to-pay-higher-taxes-in-victoria/6439650" target="_blank"> Treasurer Tim Pallas stating: </a>
“We think it’s inherently unfair on Victorians for foreign purchasers to take the gains of owning property in Victoria through the services and infrastructure that Victorians pay over an extended period of time without contributing their fair share,”
This implies it is bad for foreigners to <a href="https://www.prosper.org.au/georgist-glossary#Unearned%20Income" target="_blank">make money in their sleep</a>, but perfectly acceptable for Victoria’s elite to do so. Hypocrisy we say!
An upfront Stamp Duty will curb some demand but established foreign investors will see this as requiring even greater capital gains to justify investments. This may extenuate the number of vacant properties and the investment window held. It could also see further cuts in quality product by foreign developers.
The Andrews government did have the common sense to include a Land Tax component to the impositions on foreign investment. Whilst the new 3% stamp duty on a $600,000 home will add some $18,000 to a foreign investment, the 0.5% increase in Land Tax is minimal. For the same home, that equates to an extra $1750 imposition.
If Andrews was serious he would have reversed the tax imposition with a minor Stamp Duty increase and a major Land Tax increase. This would put pressure on foreign investments to be leased out or on-sold quickly, adding to supply. A higher Stamp Duty does the opposite by slowing turnover. Buyers will hold a property until the $18,000 in stamp duty plus their desired capital gain is achieved. Charging $1750 in Land Tax will do little to alter investment behaviour at just 10% of possible rental income. With capital gains running at $40,000 – $60,000 per annum, a $1750 charge is minimal. We will be very interested to see if the new change affects auction clearance rates and off-the-plan sales.
With foreign investments doubling in the last five years and hitting some 20% of purchases nationally in 2014, a policy move was needed to protect our sovereignty. Well done Treasurer Pallas for admitting Victorian taxpayers need a return on investment for their public infrastructure. If only we could extend that concern to the immense capital gains those owning real estate near <a href="https://www.prosper.org.au/2015/04/30/value-capture-for-victoria/" target="_blank">the new Melbourne Metro loop will enjoy.</a> That would reflect the ‘fair go for all’ mantra Australians live by. To meet this, Andrews must go further by demonstrating the exponential wealth delivered by property is bad for the economy, whether for a foreign or local investor.
Karl Fiztgerald is project director of <a href="https://www.prosper.org.au/" target="_blank">Prosper Australia</a>.
This article first appeared on Prosper's website.
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Foreign investment curbs benefit Australian investors: Karl Fiztgerald

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The universal distrust of politicians has been confirmed, yet again, by the Roy Morgan survey ranking the professions on ethics and honesty.
Only 13% give a positive rating to federal politicians, who are near the bottom of the poll with the people who sell real estate, advertising and cars.
Election outcomes increasingly reflect the degree to which the public is fed up with politicians. Few incumbents survive elections these days, with Victoria’s Denis Napthine dumped and Queensland’s Campbell Newman converting a record majority into a stunning defeat. The recent New South Wales poll was a rare exception.
Politicians provide examples daily of why people detest them: broken promises, relentless spin, refusal to give a plain answer to a straight question, the strident overblown language, the brattish behaviour in the Canberra kindergarten known as parliament.
To put it in pub terminology, they’re the people who p--- on us and tell us it’s raining.
Tony Abbott managed to encapsulate everything that’s despised about politicians with his recent pronouncement on foreign investors. The Prime Minister, if we can believe him, proposes to lock up people for buying houses. He says this will make homes cheaper and the Great Australian Dream more attainable.
Now, I know Abbott isn’t the sharpest tool in the political shed but even this dead-man-walking Prime Minister must know that persecuting foreigner investors won’t make housing more affordable.
Foreigners are allowed to buy Australian real estate provided they buy new. The issue is the degree to which some overseas buyers sidestep the rules to buy existing dwellings. But the research shows that overseas buyers of secondhand homes are a tiny share of the total market and stopping them won’t affect pricing levels.
But Abbott managed to keep a straight face while claiming this is why he’s threatening to jail foreign buyers for three years. He says they’re “unnecessarily driving up prices”.
If he really believes that, he’s an even bigger idiot than I think he is.
Firstly, Australian prices are not rising to any significant degree, outside of Sydney. According to Domain’s House Price Report, median prices in the past 12 months went backwards in two capital cities, were unchanged in another, and grew less than 5% in three others. In the unit market, prices dropped significantly in three cities, were unchanged in another and grew less than 4% in two others.
So we don’t have a pricing issue, apart from Sydney.
But if you genuinely wanted to stop real estate prices rising, you would target the sections of the market that have the greatest influence. According to the recent NAB survey, the largest market sector by far is next-time buyers (home buyers other than first home buyers), who comprise 42% of sales of existing dwellings.
Next most important are first time buyers, who are 26% of sales, and then Australian investors, who are 22% of the market. Foreign investors are 7% of sales.
We must have slipped into a parallel universe if 7% of buyers can have more influence over prices than the other 93%?
The reality is that the federal government is running a Yes Minister scenario. The ordained method of dealing with a thorny issue is to run an inquiry, hold lots of press conferences, threaten strong action, find an unpopular minority as a scapegoat and, in the end, do nothing.
They started last year with a long and expensive federal inquiry into affordability. This talkfest produced nothing of value to the public, but something of immense value to beleaguered politicians – the perfect scapegoat. Foreign investors are a godsend because they’re few in number and they don’t vote anyway.
A chest-thumping press conference with a touch of sabre-rattling makes the PM look tough – but what he’s suggesting is nonsensical.
Imagine a scenario in which a Shanghai businessman buys a mansion in Sydney. Is it proposed that Australian will extradite him and put him on trial here for the crime of real estate purchase? And then lock him up for three years?
That’ll go down well in China, the most important buyer of our resources and also the No.1 source of foreign investment in Australian real estate. Even a twit like Tony Abbott isn’t going down that path.
You get the feeling it’s all designed as a smokescreen ahead of the Budget in which the numbers will be embarrassing.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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Abbott's foreign buyer sabre-rattling is nonsensical: Terry Ryder

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Christie's International agent Ken Jacobs says there are mixed message coming from the Australian government on foreign investment in prestige residential 
Jacobs was part of the high level delegation from the Christie's that was visiting China last week to help build stronger relationships across the company’s global network.
There has to be clarity and certainty in the wake of the Villa del Mare, Point Piper decision,<a href="https://www.propertyobserver.com.au/https://vimeo.com/126578065" target="_blank"> he </a><a href="https://www.propertyobserver.com.au/https://vimeo.com/126578065" target="_blank">suggests</a>.
<div>It was the first time Jacobs has spoken publicly on this issue - he was one of the sellers of the $39 million Point Piper home. </div>
<div> </div>
<div>Jacobs said Treasurer Joe Hockey’s forced sale was an unpreced­ented and an ill-considered political stunt.</div>
<div>
“The market here is seeing lots of mixed messages from our government, which is the worst thing that any country can do or any investment category can do,’’ he said.
“People want certainty, they want to be able to look at the crit­eria and meet that criteria, but if the criteria’s sort of a moving feast then there are lots of other markets they can go to.”
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