Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <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>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

Property Tax

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A majority of voters think real estate tax concessions should be cut or left alone, while also backing the federal government's $50 billion plan to cut company taxes than oppose it, according to a recent poll. 
Amid the housing affordability debate ahead of the May budget, the poll finds there is neither a majority for or against whether investor taxes of negative gearing and the 50 percent capital gains tax concession should be curbed.
The poll by Fairfax Media/Ipsos found 35 per cent of the people surveyed indicating tax concessions for real estate investors be reduced, while 40 percent said they should remain the same. Only 19 per cent said the concessions should be increased.
Lowering tax concessions for housing was most popular with people aged over 55, and least popular (24 percent) for people aged 18 to 24, according to the survey of 1,400 respondents over the weekend.
Labor says negative gearing should be available only for new investors to new homes only and cutting the capital gains tax (CGT) concession to 25 percent for investors who hold the asset for at least a year.
The Coalition opposes touching negative gearing but has been looking at CGT options as part of its housing affordability package for the May budget, Fairfax media reported.
The Treasury has done extensive research for the government on the issue.
But on the decision by the Fair Work Commission to cut Sunday penalty rates for retail, hospitality, pharmacy, and fast food workers, the view is more emphatic, said the survey. Almost two-thirds, or 63 percent, do not buy into the argument that more businesses will choose to open on Sundays or public holidays once the pay rates are reduced. Just 29 percent believe otherwise.
The poll also finds voters evenly divided over the government's plans to cut the company tax rate to 25 percent from from 30 percent over the next 10 years.
Despite a concerted campaign by Labor against the tax cuts, 44 percent support the 10-year plan while 39 pe cent are opposed.
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jonathanchancellor-7SQnKwU6yx

Voters still to be convinced on negative gearing policies: Fairfax/Ipsos poll

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The Victorian government has decided to impose a tax on homeowners who leave their properties vacant in a bid to make housing more affordable in and around Melbourne, taking a leaf out of Vancouver's Empty Homes Tax.
The Vacant Residential Property Tax will be levied at 1 percent, multiplied by the capital improved value of the taxable property. 
The new rule is designed to coax owners who "unreasonably" leave their properties vacant to make them available for either purchase or rent.
If the property has a capital improved value of $500,000, the amount paid will be $5,000.
The new tax is expected to raise about $80 million over four years, according to a report in The Age. The changes will address the number of properties being left empty across inner and middle suburbs of Melbourne.
Late last year, the local government in Vancouver announced the Empty Homes Tax, which says, “Homes that are deemed empty will be subject to a tax of 1% of the property's assessed value. The Empty Homes Tax will be applied annually, with the first tax year beginning on January 1, 2017.”
The Vancouver council says that most homes will not be subject to the tax, as it does not apply to principal residences or homes rented on a long-term basis.
The city was high on the index of un-affordability, ranking third behind Sydney and Hong Kong in an international study by Demographia.
As for Victorian Vacant Residential Property Tax, the only word so far is that there will be some exemptions, owing to the fact that some properties are left vacant due to legitimate reasons, such as holiday homes, deceased estates and homes owned by Victorians temporarily overseas.
The tax is among several measures the government has announced to make housing more affordable, including scrapping stamp duty for first home buyers on properties worth up to $600,000.
The 1 per cent tax on vacant properties will encourage owners to either sell them or fill them by renting them out, says the government.
According to a study by Prosper Australia last year, more than 82,700 residential properties — or 4.8 percent of Melbourne’s housing stock — sit empty, while many people struggle to afford to buy or even rent accommodation.
The study estimated the number of unoccupied properties based on water use of less than 50L per day during 2014, from data provided by City West Water, South East Water and Yarra Valley Water.
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Victoria to tax owners for leaving homes vacant as it tackles housing crisis

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GUEST OBSERVER
The NSW government is facing a budget shortfall with land related transactions and total stamp duty collected below current budget forecasts for the first three months of the 2016- 2017 financial year, according to the Real Estate Institute of New South Wales. 
Data from the NSW Office State Review shows that for July, August and September 2016 both the number of land related transactions and the total stamp duty collected from those transactions is less than for that period last financial year. 
The NSW Government’s failure to address stamp duty bracket creep is beginning to hit them in the hip pocket. It's time to review and amend the out-dated stamp duty brackets that are inhibiting people from buying and selling property in NSW. 
There were 60,034 land related transactions in the first three months of the 2015-2016 financial year and this financial year there have been only 54,582. Last month, there were 17,988 transactions compared to 20,447 in 2015, some 12 per cent less. 
Approximately $2.157 billion in transfer duty was collected from land transfer transactions in the first 3 months of 2015. This financial year some $2.019 billion or $138 million less has been collected. The total Budget for 2016-17 for “All” transfer duty is $8.777 billion and at the current rate the NSW is facing a budget shortfall.
If not for the continued value growth the loss of budgeted revenue could be far greater. It's on a slippery slope unless government can find ways to generate more activity.
It is a disgrace that stamp duty bracket creep has not been reviewed for the past 30 years and Government's failure to address this issue is unconscionable and the market is now punishing them for it.
John Cunningham is president, REINSW, and can be contacted <a href="https://www.reinsw.com.au/imis15_Prod/web" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

NSW land, property transactions fall: REINSW

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The Office of State Revenue (NSW) are hosting free information sessions on surcharge purchaser duty and surcharge land tax.
These will focus on surcharge purchaser duty which applies to foreign persons who acquire residential land, and surcharge land tax which applies to foreign persons who acquire or already own residential land.
The definitions of foreign persons and residential land will be explained, as well as exemptions, calculations and more.
Session will be run from various locations around New South Wales;
<ul>
<li>Sydney CBD - 2 November</li>
<li>Bondi Junction - 9 November</li>
<li>North Sydney - 14 November</li>
<li>Wollongong - 15 November</li>
<li>Newcastle - 17 November</li>
<li>Parramatta - 21 November</li>
<li>Queanbeyan - 22 November</li>
<li>Wagga Wagga - 23 November</li>
<li>Dubbo - 29 November</li>
<li>Orange - 30 November</li>
<li>Campbelltown - 1 December</li>
<li> </li>
</ul>
You can register online at:
<a href="https://www.osr.nsw.gov.au/info/seminar/online">www.osr.nsw.gov.au/info/seminar/online</a>
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Property 101: Foreign surcharge information sessions for NSW

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The NSW Government will be the big winner of the sale of John Symond’s Point Piper mansion, according to the Real Estate Institute of New South Wales.
REINSW CEO Tim McKibbin said the NSW Government must be delighted by the news that John Symond has put his property on the market.
“NSW Premier Mike Baird and Treasurer Gladys Berejiklian must be rubbing their hands together with delight,” REINSW CEO Tim McKibbin said.
“With the property expected to fetch in excess of $100 million and stamp duty remaining unadjusted for bracket creep for the last 30 years, the NSW Government is expected to earn at least $6.94 million if the property is sold to an Australian or $10.94 million if sold to a foreign buyer.
“The sale of this property should prompt the government to finally address bracket creep, which would make such a difference to first homebuyers.
“NSW transfer duty revenue for 2015-16 was more than $1 billion over Budget at $8.887 billion and is budgeted at $8.777 billion for 2016-17. It is time to review stamp duty rates and help those who are trying to enter the property market,” Mr McKibbin said.
The property at 2 Wingadal Place, Point Piper was purchased by John Symond in 1999 for $10.89 million and has been listed with Bill Malouf of LJ Hooker Double Bay and Ken Jacobs, of Christie’s International. 
 
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Property tax windfall for NSW Government following any Point Piper sale by Aussie John Symond

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GUEST OBSERVER
Most Australians believe the best way governments can assist the property market is to stop overburdening homebuyers with the crippling costs of stamp duty.
A poll iBuyNew which asked ‘What would be the best way for government to assist the property market?’ found 55 percent of respondents wanted to cut stamp duty.
Thirty percent of participants in the online survey suggested increasing first home buyer grants would be most effective, while 15 percent called for negative gearing to be scrapped.
Most governments remain over-reliant on stamp duty. 
State governments still have an unhealthy dependence on stamp duty which is just a drag on the economy and a handbrake on homebuyers.
If governments are not prepared to abolish stamp duty they should at least consider reductions or more concessions for certain buyers.
Greedy state governments had also been behaving badly by slugging foreign investors with excessive new surcharges and tax increases.
Foreigners buying property in Australia should be paying some tax but the measures that were recently announced by the NSW, Victorian and Queensland governments were over the top.
iBuyNew survey results:
What would be the best way for government to assist the property market?
Cut Stamp Duty                                             55 percent
Increase first home owner grants                     30 percent
Abolish negative gearing                                 15 percent
Mark Mendel is chief executive officer, iBuyNew and can be contacted <a href="https://www.ibuynew.com.au" target="_blank">here</a>.
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State governments have an unhealthy dependence on stamp duty: Mark Mendel

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You can claim a tax deduction for some of the expenses associated with owning a rental property in the year in which you incurred them, but others must be claimed over time.
DEPRECIATING ASSETS
Items that will wear out and need to be replaced, such as carpets and appliances, need to be depreciated. This means you claim the cost of the item over its expected lifespan.
The Australian Taxation Office has published a list of the timeframes for depreciating common items found in rental properties.
For example, the ATO suggests carpet should be depreciated over 10 years and floating timber doors over 15 years. Gas or electric hot water systems can be depreciated over 12 years, while the suggested lifespan of solar hot water systems is 15 years. The ATO suggests cook tops, ovens and refrigerators should be depreciated over 12 years.
You can use the ATO’s suggested timeframes to claim depreciation or, in some cases, you can make your own estimates.
If you want to use your own estimate of the e ective life of a depreciating asset, you’ll need to be able to back up your claims with information such as the manufacturer’s specifications, engineering information or common practices for scrapping the item.
The item’s lifespan starts from when it was new, not when you started claiming deductions. If you install second-hand items, you’d have to consider their lifespan since new, not since you bought them.
CAPITAL WORKS
If your rental property was built after July 17, 1985, you may be able to claim a deduction for construction costs, known as a capital works deduction. 
Capital works deductions are usually claimed at a rate of 2.5 percent t a year for the 40 years after construction. They cover expenses for buildings, extensions such as garages or patios, alterations such as kitchen and bathroom renovations and structural improvements including carports, sealed driveways and fences.
Assets that are considered to be part of the building must also be depreciated as capital works.
This includes:
• Cabinets, sinks and xtures in kitchens and bathrooms
• Built-in wardrobes
• Tiles and other oor coverings that can’t easily be removed without damaging the building
• Insulation
• Fly screens and awnings
If you want to claim for capital works, you’ll need records of the construction dates and building costs, details of who carried out the works and the type of construction.
If you don’t have access to these details, you can hire a quantity surveyor, architect or builder to supply this information. 
To download a free ebook on new financial year taxation tips for property investors,<a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/55208-new-financial-year-tax-planning-tips-for-property-investors" target="_blank"> click here</a>.
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Claiming a tax deduction for rental property ownership expenses

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Rental properties make money for investors through income and capital gains, both of which are taxable.
Depending on your annual income from investments, wages and other sources, tax can eat up a sizable chunk of your returns.
One way to minimise your tax bill is to ensure you’re claiming all of the deductions you can on your investment property.
Expenses you incur due to owning a rental property can be o set against the income the investment brings in.
If the deductions add up to more than the income, you can offset set the tax loss against earnings from other sources. If the income is higher than the total value of deductions, you must pay tax on the excess. 
Most of the income you’ll receive from your investment property will be rent paid by tenants. Other property-related income is also taxable, such as insurance payouts for damage to the property or lost rent, and rental bond you’ve retained to pay for damage caused by tenants.
The Australian Taxation Office has strict rules about what costs and expenses you can and can’t use to reduce your tax bill. For example, you can only claim expenses for the period that your property was rented or available for rent.
You can claim some expenses in full in the tax year in which you incurred them but others must be claimed over a number of years.
CLAIM IN FULL NOW
The long list of expenses you can claim straight away includes:
• Interest on your mortgage
• Strata fees
• Council rates
• Water bills
• Repairs and maintenance
• Pest control
• Property management costs
• Advertising for tenants
• Land tax
• Legal expenses
• Bank charges
• Administration costs such as phone bills, stationery and postage.
You can claim a tax deduction this year on expenses you’ve prepaid such as insurance and interest on your mortgage for the coming nancial year.
CLAIM OVER TIME
Some costs must be claimed over several years. Charges for establishing a mortgage are usually claimed over five years, for instance. Assets that wear out and need to be replaced periodically – such as carpets and hot water systems – need to be depreciated with the cost claimed over their useful lifespan. 
You may also be able to claim capital works deductions, which cover the property’s construction costs, including the home itself, carports, sealed driveways and fences, and items that are fixed in the building such as kitchen and bathroom cabinets.
DON’T CLAIM AS EXPENSES
You can’t claim the cost of buying and selling the property or any initial repairs that are needed before you can rent it out. These costs are factored into the profit, or capital gain, you make when you sell.
These lists are not exhaustive. If in doubt, check with a tax professional. 
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To download a free ebook on new financial year taxation tips for property investors,<a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/55208-new-financial-year-tax-planning-tips-for-property-investors" target="_blank"> click here</a>.
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New financial year tax tips for property investors

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The Indonesian government plan to cut the property transfer fee (BPHTB) to 1 percent.
It is to be in its economic stimulus package which will slash tax on real estate investment trustees (REITs) to almost zero. 
The government included REITs in its fifth economic policy package in October 2015, Coordinating Economics Minister Darmin Nasution said, adding that it removed double-taxation schemes within REITs in hope of attracting new investors.
“The Finance Minister cut the REITs tax to 0.5 percent. Then the government asked local administrations to lower BPTHB to 1 percent," Darmin said on Monday after a cabinet meeting. 
However the local press reported that regional authorities are reluctant to introduce the new policy, claiming that the fee is a source of revenue.
In Banten province, BPHTB is the second largest source of income after property tax (PBB). BPHTB contributes to almost 30 percent of its total regional revenue, data shows.
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Property 101: Indonesian government set to continue cutting property taxes

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GUEST OBSERVER
Recently, tax residency has become a contentious and difficult issue. Tax partner Fletch Heinemann from Cooper Grace Ward explains below. 
Q1 – 0:15 – Am I a tax resident of Australia?
Q2 – 1:05 – What does it mean to ‘reside in Australia’?
Q3 – 2:19 – What is a ‘permanent place of abode overseas’?
Q4 – 3:35 – What if I still have a property in Australia?
Q5 – 4:40 – What about if I pay tax outside of Australia?
Click below to watch 
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For more information, <a href="https://www.cgw.com.au" target="_blank">click here</a>.
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