National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

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

Property News

<html><body>
It was Queensland that failed to get a look in on the 10 most expensive sales of the week, despite taking out the top place last week.
The most expensive sales all came from Victoria or Sydney, according to RP Data.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-vic-canterbury-117121935" target="_blank">126 Mont Albert Road, Canterbury, Vic </a> <img src="/images/2014/07/15/e1.jpg" alt=""> A five bedroom, four bathroom house <a href="/news/mont-albert-road-canterbury-trophy-home-sells-for-6-66-million">in Melbourne's Canterbury sold for $6,660,000 last week</a> through Hocking Stuart Glen Iris. Set on a 2,051 square metre plot, the Tuscan-style mansion comes with an outdoor entertaining room with a television, barbecue and fireplace, a pool and tennis court. Inside, there is a formal sitting room, a games room, a separate dining room, a study and a kitchen topped with Calcutta marble. The vendors purchased the home just three years ago, for $5,500,000. 
</li>
<li>
<a href="https://www.century21.com.au/property/279993/" target="_blank">48 Carabella Street, Kirribilli, NSW </a> <img src="/images/2014/07/15/e2.jpg" alt=""> This <a href="/news">Kirribilli </a>mansion sold for $4,500,000 through Century 21 Mosman. Another five bedroom, four bathroom house (though more than $2 million cheaper than Canterbury's offering), the home was sold by <a href="/expert-insights/buying/computer-software-entrepreneur-simon-clausen-sells-kirribilli-mansion-burnleigh">former Young Rich Lister Simon Clausen</a>, now an expatriate in Sweden. Though it was reportedly sold in late June, the sale was presumably only reported this week to RP Data. It had been listed since October 2013. Clausen and his wife, Alexandra, purchased the home for $3.98 million in 2008. 
</li>
<li>
<a href="https://www.ppdre.com.au/1P0509" target="_blank">4 Bourke Street, Queens Park, NSW </a> <img src="/images/2014/07/15/e3.jpg" alt=""> A contemporary five bedroom, four bathroom home sold for $2,975,000 through Phillips Pantzer Donnelley. The <a href="/news">Queens Park</a> home set on a 386 square metre dual-access block comes with a two storey self-contained guesthouse. The main house has wide timber floorboards throughout, a walk in pantry, and a marble-topped kitchen. The vendors purchased the property, five minutes from Bondi Junction, in 2010 for $1,975,000. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-willoughby-117266903" target="_blank">6 Pendey Street, Willoughby, NSW </a> <img src="/images/2014/07/15/e4.jpg" alt=""> Sold through L J Hooker Willoughby, this home secured $2,240,000. The five bedroom, three bathroom house has generous open plan living spaces. The house is set on a 580 square metre elevated lot, with leafy views of the suburb. The vendors purchased the home less than a year before selling. It was sold at a loss, with the former owners buying the house in 2013 for $2,360,000. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-balmain-117287835" target="_blank">155 Darling Street, Balmain, NSW </a> <img src="/images/2014/07/15/e5.jpg" alt=""> This sandstone corner terrace sold for $2,400,000 through Cobden &amp; Hayson Balmain. The home, built in 1858, has been renovated, with contemporary interiors. A double height atrium is the central feature of the home, which has two storeys and opens to a north facing entertaining area. There are four bedrooms and two bathrooms, and the private "master wing" has a walk in robe, ensuite and private deck. The vendors bought the home in 2010, for $2,125,000. 
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-nsw-manly-117244863" target="_blank">501/95 West Esplanade, Manly, NSW </a> <img src="/images/2014/07/15/e6.jpg" alt=""> A <a href="/news">Manly </a>penthouse secured $2,150,000 when it was sold through Bergelin Estate Agents. The three bedroom, two bathroom home in the Manly hillside has panoramic views over the Manly ferry, harbour and heads. Each room of the open plan home extends to adjoining terraces. The vendors purchased the home in May 2009. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-freshwater-117227027" target="_blank">40 Wilson Street, Freshwater, NSW </a> <img src="/images/2014/07/15/e7.jpg" alt=""> This modest single storey brick home sold for $2,110,000 through Smyth Estate Agents. With a 919 square metre flat plot, the potential for development on the flat block was central to its marketing campaign. The home had been held by the same family for more than 60 years. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-south+melbourne-117256503" target="_blank">292 Cecil Street, South Melbourne, Vic </a> <img src="/images/2014/07/15/e8.jpg" alt=""> Greg Hocking Holdsworth Albert Park sold this three bedroom, one bathroom <a href="/news">South Melbourne</a> Victorian home for $2,100,000. The freestanding house, located near MSAC, Albert Park Village and Clarendon Street, is north-facing at the rear, bringing light into the kitchen and living areas. The vendors had owned the home for almost 30 years. They purchased the property for $180,000 in November 1984, selling it this week for more than 11 times that price. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-bella+vista-116601871" target="_blank">11 Montpellier Rise, Bella Vista, NSW </a> <img src="/images/2014/07/15/e9.jpg" alt=""> A six bedroom, three car home in <a href="/news">Bella Vista</a> also sold for $2,100,000 this week. Century 21 Prime Property secured the sale of the contemporary house. The newly built home, which took two years to complete, has multiple large living areas and double sized bedrooms. outside, there is a private entertaining area with a barbecue and cooktop, and a swimming pool that comes with a waterfall and coloured lighting. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-clovelly-117246355" target="_blank">30 Clifton Road, Clovelly, NSW </a> <img src="/images/2014/07/15/e10.jpg" alt=""> This single fronted home was sold for $2,050,000 through Ray White Kensington. The four bedrooms, three bathroom house with two levels was recently renovated by the vendors. The property has been in their hands since 1987.</li>
</ol>
</body></html>

jrichardson-uRX5hFdKfN

The 10 most expensive sales of the week: RP Data

<html><body>
Despite months on the market and huge price cuts, these properties just won’t budge.
These 10 properties are the most heavily discounted in the country, according to <a href="https://sqmresearch.us5.list-manage.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=0f8e3c8687&amp;e=0aab96dc54" target="_blank">SQM Research</a>.
<ol>
<li>
<a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-ellen+grove-114951879" target="_blank">38 Considine Street, Ellen Grove, Queensland</a>
<img src="/images/2014/07/09/1.jpg" alt="">
The owners of this 1.57 hectare flat block with a brick house have lopped its price by 43%, this biggest house price cut of any home currently on the market. After 245 days on the market and a new $799,000 asking price, down from $1,400,000, the property is still for sale. A half hour’s drive from the Brisbane CBD, the property is being advertised on its development potential.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-tas-richmond-114883299" target="_blank">2 Wellington Street, Richmond, Tasmania</a>
<img src="/images/2014/07/09/2.jpg" alt="">
Richmond’s Mill House, sitting alongside the convict-built Richmond bridge, has seen its asking price cut by $1 million, down from $2,800,000 to $1,800,000. The historic property has a four bedroom, four bathroom main residence, with a formal living and dining area, sunroom and cellar. There is also a self-contained cottage on the property, and the vendors are open to selling the adjoining plot. According to the listing information, “A change of circumstances has significantly increased the motivation of the Vendors of this magnificent Country Retreat [sic]”.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-carabooda-114289451" target="_blank">219 Bernard Road North Carabooda, West Australia</a>
<img src="/images/2014/07/09/3.jpg" alt="">
A newcomer to SQM’s list, this rural property has been discounted by 35%, with its asking price now $2,272,000, down from $3,500,000. It’s been on the market for 321 days. SQM notes the property is an “acquired taste,” writing that “this home would perhaps struggle to find buyer interest outside of those interested in the rural/farming market, narrowing down the vendor's target market immensely”. According to its listing information, the property is located four or five kilometres from the “future CBD of Alkimos”.
</li>
<li>
<a href="https://www.raywhite.com/nsw/michelago/668779/" target="_blank">76 Tinderry Road, Michelago, New South Wales</a>
<img src="/images/2014/07/09/4.jpg" alt=""> Another rural property that won’t budge, this 710 hectare plot has been on the property for more than three and a half years, and has been discounted by 34%. The property, located near Michelago village, is within a half hour’s drive of Canberra’s suburbs. Permanent water is supplied to the property by the Michelago creek, with two dams on the land. The original 1925-era home still stands on the property and requires significant renovations.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-wa-doubleview-116544475" target="_blank">1 Princess Road, Doubleview, West Australia</a>
 <img src="/images/2014/07/09/5.jpg" alt="">
Advertised as a four lot subdivision opportunity, this property in Perth’s Doubleview has been discounted by 33%. On the market for 91 days, the cottage and granny flat on the plot are advertised as “very rentable during the development phase”. They sit on a 1,412 square metre plot. The vendors purchased 1 Princess Road for $150,000 in 1990. They are hoping to secure more than 10 times what they paid for the property, with an asking price of $1,800,000.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-sa-strathalbyn-107584093" target="_blank">21 Cotton Court, Strathalbyn, South Australia</a>
<img src="/images/2014/04/30/strathalbyn.jpg">
This home in the South Australian town of Strathalbyn is listed at $339,000, 32% down from its initial $498,000 asking price. 21 Cotton Court has been on the market for almost three years. The 1900s style house was purchased by the current vendors for $118,000 in 1995. It’s the only South Australian home on the top 10 list.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-tas-battery+point-108230936" target="_blank">1/23 Albuera Street, Battery Point, Tasmania</a>
<img src="/images/2014/07/09/6.jpg" alt="">
This luxury renovated apartment offering in Hobart is situated in the former Albuera Art School. Vendors are seeking offers over $1,500,000, while its initial asking price, 986 days ago, was $2,200,000. The property has three double bedrooms, with polished timber floors throughout and pressed metal ceilings.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-green+point-114436679" target="_blank">99 Green Point Drive, Green Point, New South Wales</a>
<img src="/images/2014/04/30/green%20point%20drive.jpg">
A contemporary home in the New South Wales Central Coast has been discounted by 31% after more than 1,373 on the market. Listed for more than two and a half years, it’s been on the market longer than any other property currently listed in Australia. It has four bedrooms, with an en suite with spa attached to the master bedroom. There is also an outdoor covered spa at the back of the property. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-bar+point-113991687" target="_blank">53 Kalinda Road, Bar Point, New South Wales</a>
<img src="/images/2014/07/09/9.jpg" alt="">
The price of this two cabin property set above a waterfront reserve on the banks of the Hawkesbury River was cut from $280,000 to $195,000, a 30% drop. It’s been on the market for 581 days. Advertised as a “great weekender”, the first cabin has two bedrooms, a kitchen and living area, while the other has a bedroom and bathroom. There is also the opportunity to take up a license for a jetty on the property, though there isn’t a ramp and pontoon currently installed.
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-vic-box+hill-115886643" target="_blank">4/14 Spring Street, Box Hill, Victoria</a>
<img src="/images/2014/07/09/10.jpg" alt="">
This one bedroom apartment, advertised as student accommodation, is on the market for $160,500. When it was first listed 154 days ago, it was advertised at $230,000. Next door to the Box Hill Hospital, the apartment is within walking distance of Box Hill’s shopping centres, public transport and the Box Hill Institute. If vendors sell at its current asking price, they will be making a loss – they bought the apartment for $173,000 in 2007.
</li>
</ol>
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The 10 most heavily discounted homes in Australia

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Property investing is a game of numerical knowledge.
Clued-up investors know that it’s not just about the headline median price, clearance rates and prestige sale figures. Yields, vacancy rates and employment figures can be just as important.
Some numbers are more equal than others. Here are seven of the standout figures that you should stick to the back of your brain this week:
<ol>
<li>
1.2% Sydney’s price gains managed to drag the national result up as the latest Australian Property Monitors PriceFinder data revealed that <a href="/expert-insights/buying/sydney-strength-drags-along-slowing-house-prices-apm">national price growth had risen by 1.2%</a> for the September quarter. It was the slowest national growth figure recorded since March 2013. Brisbane was perhaps the most surprising result, with its median price falling 1.3% over the quarter. 
</li>
<li>
4% Infrastructure is often pointed to as one of the keys to future price growth. But just how big an effect does it really have. Researchers from Griffith University studied the effect of Brisbane’s introduction of ferries nearly 20 years ago and found that on average <a href="/news/qld/how-the-introduction-of-brisbanes-ferries-affected-property-prices">properties one kilometre closer to the ferry terminal increased by an average of 4%</a> more than those further away. In fact academic Barbara Yen said that: “A one hundred metre decrease in the distance to the ferry stop would increase property values by between 4.9% and 13.1%.” 
</li>
<li>
-8.5% The Sydney market has boomed over the past couple of years, but not every region has benefited. SQM Research’s Louis Christopher dug down into <a href="/news/nsw/not-all-sydney-areas-are-booming-the-citys-three-worst-performing-regions">the three areas which have underformed</a>. Among them the affluent Lower North Shore which has actually seen prices fall by 8.5% over the past three years. 
</li>
<li>
274 Brisbane has a new contender for the crown of the city’s tallest tower. <a href="/expert-insights/buying/brisbane-skytower-joins-race-to-be-the-citys-highest-residential-tower">Brisbane Skytower will reach the city maximum height of 274 metres</a>, potentially equalling Shayher Group’s proposed 82-storey residential tower on 300 George Street. 
</li>
<li>
11 Melbourne’s median house price has stabilised over the previous quarter, but <a href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=e48e5e6ff4&amp;e=035e81ff9a" target="_blank" style="line-height: 1.3em;">price growth in 11 suburbs stood out</a>, according to the Real Estate Institute of Victoria. 
</li>
<li>
104 Melbourne City Council has secured the $76 million purchase of a 6,462 square metre property site opposite the Queen Victoria Market <a href="/expert-insights/investing/queen-victoria-market-precinct-site-sells-to-melbourne-city-council-after-104-year-wait">after a 104 year wait</a>. The council managed to fight off competition from $80 million offshore buyers to secure the prime redevelopment site. 
</li>
<li>
1,641 Melbourne is gearing up for its<a href="/expert-insights/buying/all-time-record-number-of-auctions-rp-datas-melbourne-weekend-preview"> biggest auction weekend ever</a>. RP Data figures show 1,641 auctions are scheduled for the forthcoming pre-Melbourne Cup weekend, breaking the 1,619 auction record set on the same days last year.
</li>
</ol>
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The top property investment numbers of the week

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<ul>
<li>$18,000 per square metre</li>
</ul>
A one bedroom Potts Point bolthole (pictured below) <a href="/expert-insights/buying/the-38-square-metre-potts-point-sydney-unit-that-fetched-684-000">38 square metre offering sold for $684,000</a> at auction last weekend.
That works out as $18,000 per square metre.
 <img src="/images/phocagallery/2014/10/potts-point-oct-24/potts%20point_0002_3.jpg.jpg">
<ul>
<li>$50,000</li>
</ul>
The 460 square metre, three level penthouse atop the Tony Owen-designed Eliza building (pictured below) comes with a <a href="/expert-insights/buying/the-15-million-eliza-penthouse-has-a-50-000-fridge">pretty hefty price tag of $15 million</a>. 
For that, the four bedroom, six bathroom apartment includes a private lobby, an internal passenger lift, 13.5-metre frontage overlooking the park and ... a $50,000 fridge.
<img src="/images/2014/10/29/eliza-oct-29-two.jpg"> 
<ul>
<li>44%</li>
</ul>
Westpac is the most exposed of the 'Big Four' to investor lending, with new research indicating <a href="/expert-insights/finance/westpac-most-exposed-to-property-investor-mortgage-market">44% of its mortgage book belongs to this market</a>.
Macquarie Group research concluded macroprudential policy could result in a 1% fall in big bank earnings.
 
<ul>
<li>Seven out of 10</li>
</ul>
It was a record breaking auction week in Victoria in the lead up to the Melbourne Cup long weekend and <a href="/expert-insights/buying/victorian-prestige-homes-dominate-rp-datas-top-10-sales-of-the-week">seven of the top 10 sales across the country were in the state</a>, according to RP Data.
Among them was the Canterbury trophy home Tavistock (pictured below). The house was designed by Ussher and Kemp, the prolific Federation era Melbourne architects who made their mark throughout Melbourne's eastern suburbs.
 <img src="/images/2014/10/28/camberwell-oct-28-breakout.jpg" alt="Victorian prestige homes dominate RP Data's top 10 sales of the week">
<ul>
<li>$5 million</li>
</ul>
But the honour of the priciest sale of the week belonged to a three bedroom Darlinghurst apartment (pictured below). 
The north-east corner apartment on the 16th floor of the Residence secured <a href="/expert-insights/buying/darlinghurst-apartment-sells-prior-to-auction-for-5-million">$5 million prior to auction</a>.
<img src="/images/2014/10/27/darlinghurst_0000_1.jpg.jpg" alt="Darlinghurst apartment sells prior to auction for $5 million">
<ul>
<li>$300 million</li>
</ul>
One of the largest commercial property transactions of the quarter went through this week.
A 50% stake in North Sydney’s 101 Miller Street/Greenwood Plaza(pictured below) <a href="/expert-insights/investing/half-share-in-north-sydneys-101-miller-street-greenwood-plaza-sold-for-300-million-plus">was sold for over $300 million</a>.
TIAA Henderson Real Estate, on behalf of TIAA-CREF, purchased the half stake from Eureka Funds Management. Mirvac Group will continue to own the remaining 50% stake.
<img src="/images/2014/10/30/greenwood-plaza-oct-30-breakout.jpg" alt="Half share in North Sydney's 101 Miller Street-Greenwood Plaza sold for $300 million plus">
<ul>
<li>$6.25 million</li>
</ul>
The octagonal Hotel Saville (pictured below) <a href="/expert-insights/building/confirmed-the-block-makes-octagonal-south-yarra-hotel-reservation">was confirmed as the site for a future installment of The Block</a> after Jonathan Chancellor revealed the $6.25 million buyer to be Watercress, the company behind the show's production. 
The site comes with a dash of morbid history. In 2002, it was alleged that male gigolo Shane Chartres-Abbott raped a client in a hotel suite.
Chartres-Abbott was arrested shortly afterwards and presented a bizarre defence that he was a 200 year old vampire.
In 2003, Chartres-Abbott was executed outside his Reservoir home as he left for his County Court trial.
<img src="/images/2014/10/24/block%20octagonal%20oct%2024%20breakout.jpg" alt="Confirmed! The Block makes octagonal South Yarra hotel reservation">
 
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Listings rose 3 percent in June, driven mainly by a 7 percent jump in Brisbane.
Higher listings in the month mirror recent softening auction trends, reported SQM Research. 
Over the year, listings are still 3.3 percent lower, with Melbourne (-12.7 percent) and Hobart (-14,8 percent) recording excessive declines. 
<a href="https://www.propertyobserver.com.au/images/2017/07/05/SQM1.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/05/SQM1.jpg" alt="">
Melbourne house prices have exploded 
The Hobart market is very tight, with a total of only 2912 listings, sending rents and house prices higher. 
With the other exception of Melbourne, listings are generally higher this year than last.
Listings in Brisbane jumped by 7 percent in June, as vendors struggle gamely to offload a glut of apartment stock.  
<a href="https://www.propertyobserver.com.au/images/2017/07/05/SQM2.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/05/SQM2.jpg" alt="">
Meanwhile SQM reported that median asking prices in Melbourne have exploded, rising by 22 percent over the year to June. 
Indeed, Melbourne asking prices for houses have increased by a massive 48 percent over the past three years, now comfortably outstripping growth in all other capital cities, including house prices in Sydney at 39 percent. 
 
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank">Four Green Houses and a Red Hotel</a>.
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pwargent-M4siyDbqQY

Hobart property market tight

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Property valuation firm LandMark White Limited (LMW) has acquired rival MVS National, with the combined entity to create the largest ASX-listed valuation services business.
The combined entity will operate under the LMW brand it will have 300 employees, including 100 staff from LMW that are based in Western Australia.
“The merging of LMW and MVS helps accelerate our expansion strategy in the national services market and allows us to build on the success and strength of both organisations,” LMW chief executive Chris Coonan said.
MVS provides property valuation services to the residential, commercial and government sectors.
LandMark White earlier said in an ASX announcement that it had raised $10 million through a right issue and placement for the acquisition.
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jonathanchancellor-7SQnKwU6yx

Property valuation firm LandMark White acquires rival MVS National 

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‘Don’t buy’ is the advice to young Australians thinking of owning property from one of Australia’s leading economists, Deloitte Access Economics economist Chris Richardson.  
The advice confirms the uncertainties around Australia’s property market, as the government looks at ways to make housing more affordable, although there is scepticism about how much they can actually affect the market.
"The one bit of advice I give to young Australians is right now you know...amid our housing markets of the moment is 'don't buy'," Richardson told the National Press Club recently, as reported by The Australian Financial Review.
"Although there are elements of rental stress, and governments can be involved in helping to do things around there and indeed governments have a bigger role there than in other parts of housing markets, let's not forget that rents today make a lot more sense than housing prices,” he said.
Even Treasurer Scott Morrison spoke at length about the private rental market the same week at a speech on housing affordability ahead of the budget, when the government is expected to deliver an affordability package.
He noted that just over two thirds of households are owner occupiers, and almost a third rent - a quarter rent in the private market, and just under 5% rent through community housing providers at sub-market rates or in public housing.
The Treasurer, while acknowledging the affordability issues for both home buyers and renters, said any measures to deal with the situation “must involve a scalpel, not a chainsaw as advocated by the Labor Party”.
While Morrison – and others in the government – have raised the spectre of a range of measures the government was contemplating to make housing affordable, Richardson put a reality check, saying – relative to recent moves in house prices – the impact of any government policy change would be marginal at best.
Referring to Morrison’s speech, Richardson said:
“The most overlooked thing [the Treasurer] said was that there was no silver bullet around this.
“You absolutely do need to look at renters who are of course the flip side of looking at investors.”
He said the government could do "heaps of things", but when "you have more than nine million homes and families in Australia, you're not necessarily going to change things heaps".
"You need to understand how small the levers they have on how big a market the Australian housing market is.”
"They might affect prices by 2-3%: we easily did more than that over the course of November-December".
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prateek24-ezbwHMbNAk

"Don't buy" property right now, economist Chris Richardson tells young Australians

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Regulatory action on multiple fronts to cool prices in an overheated market, which many see as a bubble at risk, could be a case of overshooting and there are dangers signals hidden in a sharp drop in prices, says a leading columnist.
“There is an unease in large parts of the residential property market. Such an unease normally triggers a fall in prices,” according to The Australian columnist Robert Gottliebsen.
A warning by Deloitte Access Economics’ Chris Richardson to first-home buyers that now was a bad time to buy was roundly criticised, but Gottliebsen said he was picking up similar danger signals in parts of the industry itself because of the multiple attacks on the vital housing industry.
“And down in budget preparation land they are planning new attacks with the aim of making it easier for first-home buyers. Scott Morrison, be careful what you wish for,” he writes.
The current volley of attacks, according to Gottliebsen, are:
<ul>
<li>Chinese and other Asian foreign investors want to buy but they get no help from local Australian banks because they can’t prove their income in China to our banks. At the same time, China is making it almost impossible for money directed to Australian housing to legally leave the country. The Chinese who bought apartments “off the plan” two or three years ago are forced to find dubious ways of getting money out of China and/or pay the high interest rates required by the rapidly growing unofficial and unregulated finance system. There is a massive Chinese investor funding problem in Melbourne and a lesser one in Brisbane.</li>
<li>Chinese are re-entering the “off the plan” market with great gusto in the belief that their government will change the rules and/or there will be a reversal in Australian banking attitudes. If we do manage to get through the Melbourne small apartment oversupply problem we are laying the foundations for another and deeper crisis if the current Chinese funding rules do not change.</li>
<li>In the “second-hand” dwelling market, for the most part, Chinese investors do not participate because it is illegal without FIRB approval. However there is clearly buying by local Chinese who have some sort of agreement with their relatives/ friends in China. But the Australian government is cracking down on these arrangements.</li>
<li>The “second-hand” market is largely made up of locals who are pushing up the prices in many areas of Sydney and Melbourne. While there is the normal high activity in house swapping and many first-home buyers in outer suburbs, the biggest force in the market for both apartments and houses is investors.</li>
</ul>
Local investors comprise high-income medical professionals but also teachers, police and trades people like plumbers. The uncertainty about superannuation means people see negatively geared dwellings as a more reliable retirement vehicle, he says.
They have also increased interest rates on investor loans and residential rate loans are being edged up. And so the forces that drove the “second-hand” market higher are being reversed with some savagery. And at the same time, about every regulator is warning of a bubble.
<ul>
<li>Outside the public service, wages are not rising, which exposes risk to the one-third of Australian borrowers (according to RBA figures) who have not built up a repayment buffer, or are less than one month ahead on their home loan repayments. These borrowers are very exposed to an economic downturn or rise in interest rates and shows how vulnerable the current situation is to any further blows in the budget.</li>
<li>There are signs that in Sydney and Melbourne the squeeze on land for development is being eased, particularly in Sydney. The major developer in Sydney, Meriton, has announced that it plans to lift production because long-delayed permits are finally being issued.</li>
</ul>
With all these forces being lined up, home prices should fall but are being help up by the rising populations in Melbourne and Sydney; the rush of foreign students and tourists and problems developers are having organising finance, he says.
In addition, if Labor wins the next election it will most likely dump negative gearing. Hence, investors are buying property before it’s too late. 
Rents in most areas are not falling. Those forces will probably stop a significant fall unless there is a major adverse global event or the budget attacks too hard. And if there is a significant fall the whole Australian economy will be affected, so multiplying the fall, warns Gottliebsen.
“My fear is that the regulators are using weapons to curb the boom that have not been used in a long time. There is risk of overshooting."
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Danger in excessive moves to cool property market: Gottliebsen

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A local Perth developer has jumped in to help out the proud new parents of a set of quintuplets.
Home and land developer Nicheliving completed the project for Kim and Vaughn Tucci, whose home was struggling to accommodate the arrival of five new children to supplement their three older siblings.
Channel Seven’s Today Tonight program was on hand to document the conversion of the Tucci family’s four bedroom, two bathroom home into a double storey dwelling.
Nicheliving director Ronnie Elhaj said he was proud with the final result and the positive impact on the Tucci family.
“Nicheliving has previously supported a number of local community and charity based initiatives, and we’re continually looking for ways to offer support to Perth families,” he said.
“Many of our clients are young families that are trying to get through life, much like Kim and Vaughn.
“We felt the Tucci family story resonated well with our brand ethos and our vision of helping West Australians achieve the Australian Dream.
“We can certainly appreciate that one or two children can be a challenge for parents, let alone quintuplets in addition to the other children in the Tucci family.
“Any family can experience a bit of financial strain in trying to handle the cost of living, so we were more than happy to help.
“Thanks to the generosity of our partners, we were able to provide the Tucci family with a great result.”
Other contributors and partners to the renovation include Loyalty app, WA Span Truss, Hearth House, Attix, Trevors Carpets, Jason Windows, Metroll, Distinctive Ceilings (DGC Group) and ABC Blinds. 
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Perth developer pitches in to help Perth's quintuplet parents

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Following Labor’s thumping win in Western Australia, the new government could introduce a four percent surcharge for foreigners buying residential property in the state, a move which has met with criticism from a leading industry body which says it could hurt the market’s hopes of a recovery. 
Others are more optimistic, saying a clear election win would stimulate the property market as buyers usually hold off major financial decisions till the election outcome.
Other moves by the Mark McGowan government could be changes to stamp duty and formation of an independent infrastructure body, according to an article in the Australian Financial Review.
The previous Liberal government had promised to shave up to $15,000 from the stamp duty for seniors downsizing into a property valued up to $750,000. What Labor does now, the industry will just have to wait and see.
It it introduces the surcharge for foreign buyers of residential property, similar to Victoria, NSW and Queensland, it would do more harm than good, says the Property Council of Australia because of the low foreign investment in the state compared with other states.
"We have the lowest level of foreign investment in property in Australia and putting an extra tax on foreign buyers will make it much harder to get the investment we need to grow the state," the council's WA executive director, Lino Iacomella, was cited as saying by the AFR.
Labor says it will use the funds to put a freeze TAFE fees for the first four years of a McGowan Government.
Among the popular moves, however, Labor has said it will create Infrastructure WA, an independent body long called for by the property industry, to assess and prioritise infrastructure projects.
Before the election, on the common agenda for both Liberal and Labor was strata title reform, such as the creation of community title, which would allow more flexible mixed-use structures with strata properties under different management.
It would also mean owners with plots as small as 1000 square metres, would have flexibility to develop their site in stages, rather than all in one go as happens under current practice, and potentially get better outcomes, said sustainable housing developer Eugenie Stockmann.
Real estate firm Acton chief executive Travis Coleman was cited by www.domain.com.au as saying that there were signs the WA economy was recovering, with the latest economic growth figures for the December 2016 quarter showing positive economic growth for the first time since mid-2015.
“If we have a clear result on Saturday (for whichever major political party), this will give people confidence of a clear political direction for the State over the next four years,” he said.
“So this state election could be the last obstacle towards a noticeable recovery in the Western Australian property market.” 
Be that as it may, the property market is still struggling from the end of the mining boom. House prices in Perth fell 2.4 per cent in February to a median $500,000, while apartments are down 2.8 per cent to a median $400,000, according to CoreLogic data.
</body></html>

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