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

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

Joel Robinson

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

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

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

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

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

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

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

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

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

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

Industry News

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Shelley Penn, a past president of the Australian Institute of Architects, has been announced as a winner in the 100 Women of Influence Awards for 2014.
The awards, a joint initiative between The Australian Financial Review and Westpac, recognised Penn in the Public Policy category for advocating for the architecture profession and design quality.
Current national president of the Australian Institute of Architects, David Karotkin, said that she has been an outstanding representative for the architecture profession.
“She has been a member of the Architects Registration Board of Victoria, Victoria's first Associate Government Architect, Chair of the National Capital Authority, Deputy Chair of the Heritage Council of Victoria and Principal of her own small practice for 21 years, to name just a few of her accomplishments,” he said.
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Shelley Penn, past Australian Institute of Architects president, winner in 100 Women of Influence 

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Tom Hoogenbosch, director of Edgepoint Homes, is undertaking a 200 kilometre two-day ride to raise funds for The Peter MacCallum Cancer Centre.
With more than 1,200 riders, he will be in good company on his trip to the Mornington Peninsula and back.
Hoogenbosch is currently in the top five fundraisers list for the Ride to Conquer Cancer and it is his second time participating in the event, having done the ride last year as well.
His initial fundraising goal was $29,400 for the Edgepoint Homes team, which includes director Ben Thomas, staff members, friends, suppliers and sponsors. They have already surpassed that goal – currently at $39,335.30.
If Property Observer readers would like to donate <a href="https://ml14.conquercancer.org.au/site/TR/Events/Melbourne2014?team_id=12092&amp;pg=team&amp;fr_id=1141" target="_blank">you can see their team page here</a>.
The ride is on 25-26 October.
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Edgepoint Homes director’s two day ride for cancer fundraising

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While real estate agents are there to work for the vendor, it doesn’t mean that they shouldn’t do the right thing for the buyer as well.
The Real Estate Institute of New South Wales’ training Twitter account <a href="https://www.propertyobserver.com.au/https://twitter.com/REINSWTraining/status/517473540564480001" target="_blank">shared out this gem this morning</a>:
<img src="/images/2014/10/2/Picture%2051.png" alt="">
Linked to three pieces of advice for referrals from 2013’s number one salesperson in the New South Wales Ray White group, Double Bay’s Gavin Rubenstein, the quote is part of his “Focus on the result” advice.
“Build your business around your principles and clients will notice. It only takes one good result to make your vendors advocates for you and your business,” <a href="https://www.reinsw.com.au/default.aspx?ArticleID=15237" target="_blank">Rubenstein advises</a>.
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Do the right thing by the buyer: REINSW Tweet of the Day

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LJ Hooker is on the market, with investment bank Lazard assisting the real estate agency network to sell the business.
The real estate agency consists of 700 franchises across New Zealand and Australia.
LJ Hooker’s chairman, Greg Paramor, confirmed Lazard's appointment to The Australian, saying that the sale process should be completed by the end of 2014.
No price guidance has been given, but it was previously purchased in a lesser state in 2009 for around $67 million.
How much it may sell for today, however, is anyone’s guess.
The official statement from LJ Hooker provided to Property Observer notes that when the company was acquired from Suncorp in late 2009 it was done so by an investment group with a horizon of three to five years, and with the time period approaching they have appointed the corporate adviser.
It notes that the majority of the shareholders remain committed to LJ Hooker and that for the brand it's "business as usual".
While the outcome could potentially be one purchaser, sources say it's more likely the case that a number of investors would buy in.
The group has had approaches from local and offshore parties, including private equity, the Australian Financial Review reported mid-week. 
LJ Hooker, founded by the legendary Sir Leslie Hooker in 1928, is one of the nation’s best-known brands.
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LJ Hooker expected to be sold by end of 2014

Why Century 21 agents are wearing pink, not gold, in October

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Would you want your investment property to be rated by your past tenants? It’s time for this to happen, according to the Tenants Union of Victoria.
They’re looking to launch Rate Your Rental, via a crowdfunding Pozible campaign, what they’re calling the Trip Advisor of residential rental properties.
The <a href="https://www.propertyobserver.com.au/https://www.pozible.com/project/183360" target="_blank">newly launched campaign</a>, which as of writing has raised $979, requires $30,000 in funds to build the site, as quoted by a web developer. It has 59 days to achieve this target.
The new site, RateyourRental.com.au, will allow tenants to check past tenants’ ratings before they’ve signed the lease. It may include details about your property such as horrible neighbours, mould issues, high electricity bills or “that your new home is structurally unsound and sinking”. These issues, they note, are those that aren’t present at inspection.
The ratings will be through a star-rating system, out of five, for a number of aspects of the property. Comments around qualitative points of that rental, including outstanding repairs, standard of fixtures and fittings, heating, air conditioning and energy efficiency, will also be included.
Perhaps it will encourage some landlords to up their game; perhaps it will allow a platform for disgruntled tenants to vent their spleen.
Either way, it’s unclear if investors can “opt out” of having their property on the site – the internet has a long memory and when they come to sell those ‘bad neighbours’ that may have long moved could put off prospective future buyers.
The Tenants Union of Victoria is calling it a “game changer” – assisting tenants, saving them valuable time and money.
Advertising options are available on the site, including for those who donate $2,500 and over.
With subscriptions offers available, it appears that, should funding be received, a January 2015 launch is expected. They’re also currently looking for volunteers, advertising for bloggers to share the message, moderators to review the comments on the new site and web developers.
The URL is currently registered to White Rabbit Studios Pty Ltd.
Similar websites currently exist, although appear largely unused in Australia to date - this includes <a href="https://www.dontrentme.com/" target="_blank">Don’t Rent Me.</a> More popular overseas options, such as RentalRaters, are gaining some traction.
CEO of the Tenants Union of Victoria, Mark O'Brien said that renters have been at the mercy of "lousy landlords and dodgy real estate agents" with this new site to redistribute some power back to tenants by replicating the approach in Australia.
 “There are over 1 million tenants in the private rental market in Victoria – Rate your Rental will give them the benefit of checking past ratings on a property before they’ve signed a lease. We think it will start to tip the balance of power back towards tenants, but we need your help to make it a reality” said O’Brien.
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Tenants Union of Victoria launches crowdfunding campaign to finance property rating website

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The Australian estate agency CBRE has suggested the recent offshore marketing of Melbourne's tallest building, Australia 108, was being undertaken by "rogue" agencies.
Last week a Singaporean agency started taking buyer interest registrations, <a href="/expert-insights/buying/southbanks-australia-108-marketing-underway-offshore-through-knight-frank-singapore">on which Property Observer reported</a>. The website page was removed this week.
<img src="/images/2014/09/23/australia-108-sept-23-one.png">
Screenshots from the Singaporean website marketing Australia 108 before it was removed.
CBRE was also aware of another Singaporean company taking registrations using dated imagery of the former project.
The ambitious project's former owner, a mostly local Melbourne developer syndicate had begun <a href="/news/vic/fender-katsalidis-australia-108-tower-seeks-1-000-early-buyer-registrants">privately taking deposits</a> on the then 108-storey proposal offering from late 2012.
But the revised project, which is still awaiting final floor plan designs, is now being developed by the Singaporean company, Aspial.
At 319 metres it will be the tallest block in the southern hemisphere.
There will be an estimated 1,105 apartments in the complex, located up to its 100th level with a 2019 estimated completed date.
"It is a rogue operator attempting to get registrations," CBRE Residential Projects Victoria managing director Andrew Leoncelli told Property Observer.
"It's my project," he said, adding the two Singaporean agencies were "unauthorised".
Giving an estimated November 2014 to March 2015 timetable for the initial marketing, he indicated CBRE was the only appointed agency.
While CBRE have not yet taken any registrations, a January 2013 CBRE press release after the development site sale to the Aspial group indicated "people who have registered their interest in an Australia 108 apartment will be contacted with an update on designs for the tower once plans are further advanced." 
The prior Australia 108 consortium included Nonda Katsalidis; investor Adrian Valmorbida; developer Benni Aroni representing the Watersun syndicate made up of himself, Gary Caulfield, Rob Elliott and others; and the Beulah International syndicate representing the Malaysian partners.
Comment has been sought from Aspial.
The Knight Frank Singaporean commission agent spoken to by Property Observer said he had authorisation to take inquiries and registrations.
"Our company has been appointed," he said referring Property Observer to the agency website, which has since been taken down.
<img src="/images/2014/09/23/australia-108-sept-23-seven.png" alt="">
 
Designed by Melbourne-based and internationally renowned architect, Fender Katsalidis, the iconic tower comes with a striking starburst at levels 70 and 71 that will house Melbourne’s highest and largest recreational facilities area for residents.
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The iconic golden starburst will be located 210m above ground level and will house luxurious services for residents, including club lounges, fitness centres and private dining spaces, private theatres as well as two large gymnasiums and infinity edge pools, all of which will enjoy spectacular views over Melbourne. Level 70 will also feature a sky garden,
Facilities on level 70 will be for all residents, while residents living in the 170 apartments located above the starburst (from level 72 onwards) will enjoy exclusive access to private recreational facilities on level 71. The tower’s luxurious penthouse will exclusively occupy level 100. 
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“We see significant opportunities and interest in the Melbourne property scene – given it has been voted the most livable city in the world1 for the last four years. said Mr Koh Wee Seng, CEO of Aspial recently.
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“The Group is extremely privileged to be able to deliver such a landmark project in Melbourne, where we see a great appetite for luxury apartment living. We believe this building will redefine luxury living and also play a major role in showcasing Melbourne as a world-class city and leader in modern architecture,” Koh Wee Seng added, indicating the project had a S$1 billion gross development value.
Prices for one bedroom apartments will start from A$450,000. 
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Rogue marketing claims in offshore Australia 108 registrations

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The McGrath Estate Agents group maintains its payroll dispute with the New South Wales Office of State Revenue (OSR) has industry-wide repecussions.
<a href="/news/estate-agent-john-mcgrath-considers-asx-float">Property Observer revealed yesterday</a> that the prominent estate agency has been issued OSR payroll tax assessment notices.
The total amount being disputed is $6,072,810, inclusive of payroll tax, interest and penalty tax.
The directors believe McGrath Sales Proprietary Limited has no payroll tax obligations and intends to further challenge the assessments, or any other future assessments, if their objection is dismissed.
It said the assessments relate to commission income received by conjunction agents during the period from 1 July 2007 to 30 June 2012.
The group's chief operating officer Geoff Lucas advised Property Observer that in the real estate industry there had been a trend of licensed co-agents operating their own independent business within a business.
"An Australia-wide trend towards a more mobile and flexible workforce has led to a decentralisation of employees and the rise of independent employment arrangements. 
"This is an industry issue not a McGrath issue. "To suggest that we have deliberately sought to avoid our financial obligations is absolutely incorrect." Lucas said McGrath has lodged an appeal against the OSR finding which will have repercussions for the entire real estate industry.  "Like owning your own home, running your own business is the other great Australian dream," said Lucas.
In response to the OSR's allegations that McGrath had failed to fulfill its payroll tax obligations, Lucas said the company had received extensive legal and accounting advice to ensure its compliance. "As the matter is now before the courts, it is not appropriate for us to comment any further," he said. 
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McGrath Estate Agents says payroll dispute has industry-wide repercussions

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Cohen Handler and Calibre Real Estate have taken out top awards in the Smart Company’s 2014 Smart50 ranking, a yearly awards event for the fastest growing businesses.
<a href="https://www.smartcompany.com.au/smartcompany-awards-2014/43757-5-cohen-handler" target="_blank">Buyer’s agency Cohen Handler ranked fifth</a>, with $2.9 million revenue and 152% growth, a stellar result after being created in 2010 by young founders Ben Handler, 30, and Simon Cohen, 29.
Now with 27 employees, Handler told Smart Company that the uncertainty of challenges keeps the adrenalin running 24/7, and said that they tapped into the underserviced buyers’ market – where they saw consumers lacking representation in real estate transactions.
The next step for the New South Wales based company is to get to an aggressive scale on a national level, looking to undertake high level B2B partnerships and leverage off Australia-wide leads and customers.
Meanwhile, <a href="https://www.smartcompany.com.au/smartcompany-awards-2014/43712-37-calibre-real-estate" target="_blank">ranked 37th, Brisbane-based real estate agency Calibre Real Estate</a> secured more than $2.2 million of revenue, reporting 63.29% growth. Founded in 2009, the husband and wife team in their early 30s, Alice and Justin Hagen, have built a company with 26 employees. Alice handles the property management side, while Justin handles the sales.
While Brisbane’s market has been volatile, the company has come close to doubling its revenue since their appearance in last year’s Smart50.
Just last year, Calibre opened a marketing office in China, and have plans to further extend internationally, said Justin Hagen. 
“Our short-term objective is to expand further into the overseas and interstate market wanting to invest in Queensland properties,” he told Smart Company.
“Our vision is to have eight offices throughout south-east Queensland within three to five years by retaining part ownership of each office.”
They also use value-add techniques, including their own interior design and home staging business.
The Hagens also plan to offer value-added incentives to customers, including launching their own interior design and home staging businesses.
Smart Company is a sister publication to Property Observer in the Private Media suite of publications.
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Cohen Handler and Calibre Real Estate rank high in Smart50 Awards

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The high-profile real estate agent John McGrath is considering a public float of his 61 office estate agency network.
Discussions had taken place with JPMorgan on an initial public offering of the McGrath Estate Agents business, according to The Australian, but were at a very early stage.
Its chief operating officer Geoff Lucas confirmed the group was intent on considering all options.
"Listing is just one of several options that the McGrath Board is exploring and yet to determine as the company continues its expansion," he said.
Earlier scoping did not eventuate in any float after having been mooted at least twice over the past two decades or so. Property Observer has also heard suggestions that McGrath had also been considering selling equity after an approach from an international property agency.
John McGrath began his career at John O'Brien's Goodhope Realty agency in Paddington in the mid-1980s, which became McGrath Goodhope in 1988.
Some colleagues remain within the group whose website reported annual residential sales turnover of $10.1 billion. The recent annual tally was from 10,574 sales with some 3,334 properties at $1 million or more.
Its most recent official annual report, for the 2012-13 financial year indicated a doubling in profit after providing for income tax to $4,524,301, up from 2011-12 which had a $2,248,459 profit. 
Dividends totaling $1,710,000 were declared and paid during the 2012-13 year.
During the 2012-13 year the group expanded its office network to 53 including 45 franchise offices with over $7 billion in residential sales volumes from 7,870 transactions.  
The group is chaired by Wendy McCarthy, the executive director of McCarthy Management Pty Limited and founder of McCarthy Mentoring.
The other independent director is Cass O'Connor, a corporate advisor, private equity investor and equities research analyst currently running her own advisory and investment firm. She has previously been a senior advisor with Carnegie, Wylie &amp; Company (now Lazard Australia); dxecutive director with Goldman Sachs Australia LLC; director of Turnbull &amp; Partners Limited and equities research analyst with Bain &amp; Company (now Deutsche Bank).
Over recent years the group has bought rival businesses and rent rolls.
In May 2012, McGrath acquired the sales and rent roll and business of Sarah Lorden Real Estate Pty Limited. 
In the same month the company acquired the rent roll business of IC Property Group International Pty Limited, while in December of the same year, McGrath acquired the rent roll businesses of Sellit Investments Pty Ltd and Julia Lerner.
McGrath Limited has bank facilities totalling $7,687,108 with five fully drawn advance facilities - starting with a $2,343,596 facility repayable by March 2017.
Before any float McGrath will need to conclude a serious payroll dispute with the New South Wales Office of State Revenue (OSR) which issued payroll tax assessment notices to McGrath Sales Proprietary Limited in August last year.
The assessments relate to commission income received by conjunction agents during the period 1 July 2007 to 30 June 2012.
McGrath has lodged an objection to the assessments with the OSR in September 2013.
The total amount being disputed is $6,072,810 inclusive of payroll tax, interest and penalty tax.
The directors believe that McGrath Sales Proprietary Limited has no payroll tax obligations, and intends to further challenge the assessments and any future assessments if the objection is dismissed.
The company annual report noted the OSR had not issued a payroll tax assessment notice for the period 1 July 2012 to 30 June 2013 to McGrath Sales Proprietory Limited. 
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