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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Frasers Property Australia (formerly Australand) has formally opened its eco-friendly industrial building at Yatala Central, located between Brisbane and the Gold Coast, with glass bottle-making giant Owens-Illinois (O-I)  being the first tenant to move in.
The facility has been rated 6 Star Green Star by the Green Building Council of Australia, making it Queensland’s first industrial building to be rated such, said a media release.
The 39 hectare Yatala Central estate is located on the corner of Pearson and Peachey Roads in Yatala. 
Sustainability features of the new building includeLED lighting throughout, solar PV system to generate renewable energy on site, 100% water recycling, less waste generation and fibre cement warehouse slabs among others.
O-I has leased a 6.75 hectare site comprising 30,000 sqm warehouse and 400 sqm office space over one level at Yatala Central. It will supply recyclable glass containers to Australian food and beverage companies. It also has the option to expand into the warehouse next to the site and add an additional 5,000 sq m.
O-I Australia general manager Jonathan Marshall said, “Opening this new six-star facility is a further commitment from our business to sustainable operations in Australia. We were pleased to partner with Frasers Property who facilitated the project to achieve top rating for the facility.”
O-I’s Yatala facility will help it service the Australian east coast and the company expects to move up to four million bottles through the facility daily. 
Troy Whalan, general manager New Business, Queensland for Frasers Property Australia, said, “Yatala Central provided the perfect platform to reduce our carbon footprint and launch the first 6 Star Green Star industrial facility in Queensland.
Yatala Central is connected by one of Queensland’s major arterials – the M1 motorway.
“Yatala is one of the fastest growing industrial precincts in Australia and has attracted several well-known brands including Carlton and United Breweries, ALDI, Woolworths, Caterpillar, Visy and VIP Pet Foods. The Yatala market is experiencing increased pre-lease enquiry. We expect to announce several new tenants within the next few months,” said Whalan.
Frasers Property has developed over 17 hectares in Yatala Central and is awaiting council approval for the remaining 22 hectares which will be released to the market mid 2017.
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prateek24-ezbwHMbNAk

Queensland’s first 6 Star Green Star industrial building opens for business in Yatala

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<div>
<div>The head of Victorian real estate’s peak body, the Real Estate Institute of Victoria, Enzo Raimondo is set to depart.</div>
<div> </div>
<div>He has served as the Real Estate Institute of Victoria’s chief executive for 16 years, after arriving in March 2016 from the Real Estate Institute of South Australia where he was the ceo.</div>
<div> </div>
<div>Representing over 2000 Real estate businesses in Victoria who employ over 14,000 people, over 80 per cent of all real estate agencies in Victoria are members of the REIV.</div>
</div>
<div>
Mr Raimondo’s replacement has not been been announced.
"I've had 16 wonderful years," said Enzo who has two sons working in real estate.
REIV President Geoff White will step in as acting CEO from mid-May, working alongside Mr Raimondo.
After 16 years of service, REIV CEO Enzo Raimondo is departing the REIV to take up an undisclosed opportunity in the property industry.
Mr Raimondo is the REIV’s longest-serving CEO, commencing in the role in 2000. 
Mr White acknowledged Mr Raimondo’s significant contribution to the industry – both in Victoria and South Australia where he was previously CEO of the REISA – and said that it provided a solid foundation for the next stage in the REIV’s evolution.
“His efforts are to be commended and have greatly increased the profile of the sector and members’ interests,” he said.
Under Mr Raimondo’s leadership, the REIV has introduced compulsory CPD for members, and launched a range of digital products, including propertydata.com.au and realestateview.com.au.
He added that the REIV “recognises this as a wonderful opportunity to build upon what has been achieved to date, and to ensure continued advancement for the real estate industry’s peak body”.
 
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jchancellor-FAypfDUnLy

Enzo Raimondo stepping down from REIV

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DEXUS Property Group today announced the resignation of its chief operating officer, Craig Mitchell, who is leaving to become the chief executive officer of Grocon Pty Ltd.
Last month Craig Mitchell was suggested as a contender for the Charter Hall Group chief investment officer gig. 
Sources said Mitchell was keen to make his name away from his boss, the well-regarded Darren Steinberg. 
Carolyn Viney, one of the highest ranking women in the property industry, announced her decision to step down this June.
Mitchell was considered for GPT Group's chief executive officer role but missed out to Bob Johnston.
Mitchell is chief operating officer at DEXUS and an executive director of DEXUS Funds Management having more than 25 years of financial management and accounting experience, with more than two decades specialising in the property industry.
Prior to DEXUS, Mitchell held positions with Stockland Group and Westfield.
Darren Steinberg, DEXUS CEO thanked Craig for his significant contribution to the Group over more than eight years.
"He leaves DEXUS in a strong position and we wish him all the best in his new leadership role.” Craig joined the Group as Chief Financial Officer (CFO) in September 2007 and as a member of the Executive General Management team has overseen various functions including the management of the third party funds management platform and retail business.
"Craig was appointed to the Board as an Executive Director in February 2013.
Richard Sheppard, Chair of DEXUS said: “On behalf of the Board and the team at DEXUS we extend our thanks and gratitude to Craig and appreciate his dedication and overall contribution to the Group.” Craig‟s existing responsibilities in the short term will be assumed by members of the Executive General Management team.
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Craig Mitchell quits DEXUS for Grocon

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Hello Real Estate and Minrex Resources NL have agreed not to complete their proposed reverse takeover, scheduled for January 2016.
Hello Real Estate has instead indicated discussions with a number of private equity firms have "progressed" to raise the necessary capital elsewhere for funding the demand for its home owner controlled real estate sales system.
Hello Real Estate’s growth has in the last three months seen the number of Hello licensees in Australia increase from 12 to 35 prompting its claim as Australia’s fastest growing real estate disruptor through its sale by owner system.
<a href="https://www.hello.com.au/?page=home" target="_blank">Hello, a licensed real estate agency</a> that offers a low fixed fee service for clients to sell their own property, comes with dedicated hands-on mentoring.
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<div align="justify"><a href="/images/2016/01/18/Screen%20Shot%202016-01-18%20at%2010.28.00%20AM.png" target="_blank">Click to enlarge</a></div>
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Hello Real Estate had been set for December 2015 stock market listing with the move by Minrex Resources NL to take over Hello for $6.75 million.
It was anticipated Minrex would change into HelloReal Estate Limited raising $5 million in capital to expand the Hello business.
Hello describes itself as a licensed real estate business "which offers its clients a fixed-fee service to sell their own property supported by a team of professional service providers, covering all aspects of selling, web listings, advertising, negotiation, conveyancing and settlement services as well as professional mentoring."
According to Hello, the system achieves significant savings, less time on market and "the best market price for the property".
Hello launched in 2012 in South Australia and then into NSW in mid-2013.
The intended listed company was to have a new board, headed by Bob Lapointe, the franchise entrepreneur who brought Kentucky Fried Chicken, Pizza Hut and Sizzler to Australia.
Now in his 70s, Bob Lapointe has chaired Hello since May 2014.
MinRex Resources NL (“MinRex”) is an exploration company, listed on the Australian Securities Exchange, with its principal focus being the exploration and development of gold, base metal and tin projects in Australia.
MinRex holds two principal projects, the Deflector Extended Gold Project at Gullewa in Western Australia and the Heemskirk Tin Project in Tasmania.
The intended Hello Real Estate <a href="/news/gold-mining-company-turns-to-hello-for-sale-by-owner-disruptee-business">stock market listing</a> via MinRex emerged mid last year, with MinRex now consulting with the ASX to resume quotation of its shares as soon as possible and will continue with its current exploration portfolio.
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Hello.com.au Real Estate calls off backdoor ASX listing

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Some two decades in the making, the real estate services company McGrath Ltd commenced trading today after floating at 12noon on the stock market.
Its initial trading price was $1.94, slightly below the public offering price at $2.10.
It was trading at $2 several minutes after the 12 noon float, then $2.02 some 15 minutes in. It got to $2.03, then closing the day at $1.83. 
McGrath Holding Co Ltd (MEA ASX) filed a prospectus to sell a 53.7 per cent stake, or 72.1 million shares, for $2.10 each, giving it an envisaged market capitalisation of $281.8 million.
There are some 1770 shareholders.
The digital pioneer Daniel Petre sits on the board as a non-executive director of the company lead by Sydney agent John McGrath.
McGrath appointed JP Morgan and Bell Potter as joint lead managers for the expected float.
Luminis Partners was advising McGrath.
Its annual residential sales turnover for FY15 was $12.3 billion from 11,760 sales with its newest offices opened in Bankstown, Frenchs Forest, Long Jetty, Revesby, Ryde, The Ponds (NSW), Annerley/Yeronga, Cairns, Noosa, Rockhampton and Wilston (QLD).
McGrath has expanded to 73 offices in the network.
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Real estate services company McGrath float hits ASX bourse at $1.94 and rising

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The former LJ Hooker CEO and industry icon, Grahame Cooke, passed away peacefully this morning in Hobart following his 18 month battle with cancer. 
Grahame commenced his career in real estate in October 1968 by walking into LJ Hooker Hobart and asking for a job.
They took him on as an assistant property manager, and he remained with LJ Hooker for more than 36 years.
Following his stint in property management, he became state manager in Tasmania and then moved north to take the role of state manager in Queensland, before moving to Sydney in 1990 where he was appointed executive general manager of franchising.
In 1994, Grahame was appointed LJ Hooker CEO and helmed an era of growth and geographic expansion until his retirement in late 2004.
Author Peter Lightfoot, in his book ‘Laugh and the World Laughs with You’, referred to Grahame as the “man who brought franchising to LJ Hooker - and to adulthood".
During his time Grahame saw huge changes including the advancement of technology and its impact on the real estate industry.
He rode out booms and recessions and guided the company through its challenges for it only to emerge strong and triumphant, the current CEO Grant Harrod said today.
"Grahame was an exceptionally passionate man and he always saw people as the greatest asset of our brand and would often say the LJ Hooker family would inspire him everyday." 
Grant Harrod listed some of Grahame's indelible achievements as:
<ul>
<li>Formed the national marketing fund so we could launch the incredibly successful ‘nobody does it better’ television campaign and launched community based marketing.</li>
<li>In 1994, despite strong opposition he commenced development of the LJ Hooker System (E2), and I know he’d be very proud of NextGen today. He was also the visionary behind the <a href="https://ljhooker.com/" target="_blank">ljhooker.com</a> website.</li>
<li>Under his leadership, in 1996 LJ Hooker acquired the Challenge Realty Group in New Zealand. They were re-branded to LJ Hooker in 1998.</li>
<li>In 1997 he launched LJ Hooker Commercial.</li>
<li>And, he created the Captains Club.</li>
</ul>
On October 2009 he was invited to join the LJ Hooker Limited board of directors retiring in May 2014. 
"I had the privilege of sitting with Grahame, affectionately known as 'Cookie', on the LJ Hooker Board for almost five years," LJ Hooker Chairman, L Janusz Hooker said today.
"When I asked him if he would like to join the Board to help revitalize LJ Hooker, after having retired as the group CEO five years prior, he didn't hesitate.  
"Yes, absolutely, was his answer.  
"Having earned his LJ Hooker stripes over a very long and successful career, he was a formidable force in the boardroom and was fearless in his mission to protect the brand and the extended LJ Hooker family.
"He sincerely loved the brand and everyone in it.  
"Grahame was blood and custard through and through and his legacy is the enduring strength of LJ Hooker and its family culture which we all enjoy today.  
"Grahame's passion and business acumen has been an inspiration to me and my family for generations. 
"On behalf of the LJ Hooker family, our thoughts are with his wife Lynne, his family and friends," he said.
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Vale LJ Hooker chief Grahame Cooke

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REA Group has announced its desire to fully acquire the iProperty Group in a deal that values iProperty at around $750 million.
The remaining 77% stake will cost about $575 million given REA has built up a stake of 22% in the south-east Asia online property portal.
"iProperty's board, management and staff have done a tremendous job of building iProperty from an emerging start-up, to occupying leadership positions in key markets," Real Estate Australia chief executive Tracey Fellows said today.
"This acquisition will bring iProperty and REA's existing portfolio of digital real estate advertising business and enable the business to take the next step in its evolution," Tracey Fellows said.
iProperty operates real estate websites in Singapore, Malaysia, Hong Kong, Macau, Indonesia, Thailand and the Philippines, though Tracey Fellows noted the transition from offline real estate advertising to online was at an earlier stage than in Australia "but is accelerating and represents an enormous monetisation opportunity."
"South East Asia is underpinned by highly attractive macroeconomic factors with strong growth prevalent across the region.
"The real estate market is expected to continue to grow driven by expanding populations and increasing GDP per capita, with the acceleration from offline to online advertising presenting an enormous opportunity for iProperty," she said.
Under the proposed transaction, iProperty shareholders will receive cash consideration of $4.00 per share.
As an alternative, iProperty shareholders will also be able to elect mixed consideration comprising of $1.20 in cash and 0.7 shares in a newly formed, unlisted public company, which will own an indirect interest in iProperty.
REA will fund the acquisition primarily from new debt facilities totaling $480 million, with the remainder from existing cash reserves.
REA’s leverage will be approximately 1.5x net debt / EBITDA on a pro forma FY15 basis but is expected to be lower by the time the transaction completes.
<a href="/images/2015/11/Screen%20Shot%202015-11-02%20at%2011.51.17%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/Screen%20Shot%202015-11-02%20at%2011.51.17%20AM.png" alt="">
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REA seeks full iProperty portal ownership with $4 per share bid

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McGrath Limited has reached agreement to acquire the largest franchise group within its network.
The acquisition will result in 10 McGrath franchise offices across Sydney’s mid to upper North Shore, North-West and Northern Beaches region, becoming McGrath company owned offices.
The 10 McGrath offices, under the leadership of Shane Smollen, was one of the largest real estate agency groups in Australia.
They have 65 sales agents, including 12 of the highest performing sales agents in McGrath’s current top 25 agents over the past 12 months.
They also have over 2,200 properties under management across these regions.
The acquisition will result in McGrath’s company owned division having one of the largest property management portfolios in Australia with over 7,200 properties.
McGrath chief John McGrath said this was a "strategic step" in the company’s growth plans.
“Our model is a hybrid of both company owned offices as well as franchises and we are equally passionate about both sides of our business.
"We are continuing to rapidly grow our franchise network organically into other high value high volume markets whilst never losing focus on McGrath’s most important stakeholders, being our team and our customers.
"Scale will be a key differentiator in this new world where innovation and continued significant investment in technology will be critical.”
The McGrath offices acquired are located in Crows Nest, Epping, Ryde, Lane Cove, Pymble, Hunters Hill, Castle Hill, Lindfield and the Northern Beaches.
McGrath Limited has been tipped as undertaking a public float.
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McGrath Ltd acquire Shane Smollen's 10 Sydney franchise offices

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International real estate agency Savills has agreed to acquire the Sydney-based real estate agency Cordeau Marshall, that specialises in Sydney’s North Shore and eastern suburbs prestige markets.
Cordeau Marshall, who currently operate under the franchise of Century 21, is a family operated business with over three decades in the real estate industry.
With offices in Double Bay, Gordon, Lindfield, St Ives, Turramurra and Roseville, they rate among the leading agencies on the Upper North Shore. 
The expansionary investment into suburban agency follows the opening of a Savills Residential office in Chinatown in February this year.
Paul McLean, the Savills Australia and New Zealand chief, said building the residential business had been part of their strategic growth plan for some time. Savills will also acquire the Cordeau Marshall rent roll of 700 plus properties.
"The addition of Cordeau Marshall will provide Savills with a significant footprint and a strong platform for further growth in the residential market, not only in Sydney, but nationally.
“We were attracted to this business for a number of reasons - the strength in one of Sydney’s premium residential areas, Cordeau Marshall’s leadership in innovation and engagement with the local community, but probably most importantly the cultural fit of its people with the Savills team.”
The agency has been associated with prestigious upper north shore listings including Inglewood, the 1898 Warrawee residence designed by Howard Joseland and Hugh Vernon, which was offered by the Waine family, co-founders of the Woolworths, Australia, retail chain after eight decades' ownership. 
Craig Marshall, founder of Cordeau Marshall has had a long relationship with the waves of Asian buyers. In 1991 he noted that 20 per cent of all sales on the upper North Shore were to Asian buyers, which had by January 1992 risen to 80 per cent within his agency. He told the Sydney Morning Herald in mid-2013 that of the first 102 properties sold through his network in 2013, some 46 went to Asian buyers.
Savills already has a highly successful residential projects division and luxury residential business in Sydney, having achieved some of the highest residential sales in 2014 with the sale of 112 Wolseley Road, Point Piper for circa $37 million, and a record price for a city apartment in Sydney with the sale of the Eliza Penthouse for $13 million. 
Head of Savills Residential, Ged Rockliff said no other large agency was able to provide such a full service to clients on both a commercial and residential platform.  
“We have the unique offering of a single ownership structure, unlike a franchise business model, ensuring zero conflict among the offices.
"The Savills - Cordeau Marshall business will offer clients a much broader package than currently exists, from managing properties to selling high end luxury, it can all be achieved under the one roof with the support of a global leader in real estate, coupled with local knowledge and community support.
"This allegiance will also provide greater depth and coverage of the Sydney market, particularly for the apartment projects to be marketed in this region with a massive database of owner occupiers, downsizers and an active clientele of investors.
 “We have more than 1,000 off-the-plan apartment sales in the pipeline and with this new acquisition it will enable Savills to provide a complete end to end service to clients, from purchase, through to settlement, and now ongoing property management services,” added Mr Rockliff.
Supplied photo: LtoR Ged Rockliff, Craig Marshall, Paul McLean
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Sydney's prestige Cordeau Marshall agency sold to Savills

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McGrath Real Estate Agents, who were issued with an assessment of $6 million by NSW Office of State Revenue, has settled the claim for payroll tax, interest and penalty tax.
The OSR alleged the McGrath group were liable for payroll tax on commission payments received by “independent” agents who were contracted to them from July 2007 to June 2012.
The Tobin Partners payroll industry advisory spoke earlier this month to McGraths CFO Paul Hauenschild who advised that their had been settlement terms were confidential.
Geoff Lucas, chief operating officer for McGrath Estate Agents subsequently confirmed to Property Observer that the dispute with the OSR was actually resolved in September 2014, shortly after the issue garnered public attention.
"We are happy with the outcome and that there will be no impact upon McGrath's operating model," he advised this week.
"As part of a confidential resolution, no further comments will be made."
<a href="https://www.tobinpartners.net.au/#!mcgrath-real-estate/c104e" target="_blank">Tobin Partners</a> noted it is common practice in the industry for better performing agents to enter into contract arrangements with agents who work under the company’s banner.
These arrangements often include the agent operating under a company set up but there are cases where the Courts will look behind the documentation to work out the true nature of the relationship. In this case the NSW OSR alleged that the agents came within the definition of “employees” under the Payroll Tax Act (NSW).
Under the Payroll Tax legislation which has been harmonised throughout all Australian States and Territories “wages” can include commission payments.
The McGrath Estate Agents group maintained its payroll dispute with the New South Wales Office of State Revenue had industry-wide repecussions.
<a href="/news/estate-agent-john-mcgrath-considers-asx-float">Property Observer revealed </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 had believed 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.
The group's chief operating officer Geoff Lucas had previously 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.
The McGrath estate agency was expected to generate earnings before interest and tax of about $20 million in fiscal 2016 and net profit of about $15 million, according to The Australian Financial Review which recently updated details on the prospect that John McGrath intends floating his estate agency around November.
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