Brisbane-based <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co Developments</a> has officially launched its $250million COMO apartment development in Varsity Lakes, while simultaneously commencing construction.&nbsp;

Building work is now underway at COMO following the appointment of <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a> as contractor to deliver the boutique development which will rise on a 2857 sqm site overlooking Lake Orr at 22 Lake Street.

When completed, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels located in the heart of Varsity Lakes.

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The project, which will sit alongside Bond University, will deliver a diverse array of apartment designs comprising one-, two- and three-bedroom residences that have already attracted interest from local and interstate investors as well as an array of owner occupiers looking to gain a foothold in the precinct.

Red &amp; Co, which has largely focused on the Brisbane market in recent years where it has delivered more than 500 apartments and townhouses across 26 projects, has designed COMO to combine tranquil, lakeside living with the vibrant urban convenience of the vibrant Varsity Lakes village.

“We’re thrilled to announce a start to construction of COMO in conjunction with the official launch of the project, our first for the Gold Coast,” said Red &amp; Co Director and Co-Founder David Laverty.

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“COMO is superbly positioned to capture the essence of the Varsity Lakes village lifestyle and its thriving café and dining precinct, while delivering a much-needed diverse supply of premium residences for the local market.

“Pre-launch inquiries have been strong among both local and interstate investors and owner-occupiers, including downsizers and upgraders who appreciate the value proposition that COMO represents.”

Prices at COMO start from $1,000,050.

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Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the COMO development incorporates an extensive range of amenities for residents including a 25-metre rooftop lap pool, sundeck, barbecue and dining areas, as well as multiple rooftop pickleball and paddleball courts, a wellness and activity centre, gym, sauna, plunge baths and landscaped gardens.

“COMO presents a rare opportunity to secure a stylish, lifestyle-focused home in one of the Gold Coast’s most sought-after neighbourhoods,” added Laverty.

“The rooftop will be the epicentre of fun for residents with an array of amenities for residents that are quite unique for a boutique project such as this, all while offering spectacular vistas across the Gold Coast as far north as Southport and south to Burleigh.”

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&nbsp;

Red &amp; Co has chosen the Varsity Lakes site for its proximity to top-tier schools, major shopping hubs, such as Robina Town Centre and its CBD offering, as well as key Gold Coast transport links, including Varsity Lakes Train Station.

COMO will be located just a short walk to shops, cafes and restaurants in Varsity Lakes and just a 10-minute drive to the Burleigh Heads beachfront.

With construction currently underway, Red &amp; Co anticipates COMO will be completed in 2028.

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Joel Robinson

Red & Co to launch debut Gold Coast development Como Varsity Lakes as construction commences

Longstanding Gold Coast developer Raptis has acquired a prime development site on Surf Parade for its next Broadbeach apartment project.

Progressing towards completion of <a href="https://www.apartments.com.au/new-apartments/the-sterling-broadbeach-6-8-george-avenue-broadbeach-qld-4218">The Sterling Broadbeach</a>, 90 apartments on nearby George Avenue, <a href="https://www.apartments.com.au/developers/raptis">Raptis</a>, led by second-generation family man Evan Raptis, has picked up a block on the corner of Surf Parade and First Avenue.

The site had been earmarked for a luxury apartment project with 33 full-floor apartments across a 37-storey tower. Raptis will go back to the drawing board and create a building more appropriate for the site. The development application will be lodged later this month.

Evan Raptis told Apartments.com.au the site ticks all the boxes.

"Broadbeach is a suburb we've developed several buildings over the years. Surf Parade ticks all the boxes for the type of apartment development we want to deliver."

Raptis had several pre-lodgement meetings with council to ensure they are aligned in the development.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="f0d58573-07a4-47a8-9f5e-fbf35fb03dc3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-05%20at%204.58.23%E2%80%AFPM.png?VersionId=iczZEd_4_o4UL0PHMPJGfy_q3tv96J5i" />

Surf Parade has emerged in recent years as one of the most popular streets in Broadbeach for development.

South East Queensland developer Mosaic Property Group kicked it off with Marella by Mosaic. Bassar Group sold out Infinity on the street, while for its&nbsp;first Gold Coast development, Polycell grabbed a Surf Parade site for <a href="https://www.apartments.com.au/new-apartments/the-rochester-broadbeach-143-surf-parade-broadbeach-qld-4218">The Rochester</a>, which is nearly sold out.

Melbourne-based developer Hirsch &amp; Faigen recently launched its fourth Gold Coast project on the exclusive strip. The Eveleigh Broadbeach will have 100 apartments across a 31-storey building designed by Rothelowman.

GV Property Group site development specialists Antonio Mercuri and Luke Reaby, who both amalgamate sites and sell shovel-ready sites to developers up and down the Gold Coast, sold Surf Parade to Raptis.

Raptis secures prime Surf Parade site for next Broadbeach apartment development

Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

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Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

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Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363368]

Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

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The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

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Gardner Vaughan Group tops out Bask Bokarina apartments

Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.

<a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.

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The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.

The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.

[smartcode_project:default project_id=149670 project_image_fid=360965]

Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.

The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.

[smartcode_project:default project_id=149670 project_image_fid=360975]

“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.

“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.

"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”

Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.

Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.

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Hirsch & Faigen unveils The Eveleigh in Broadbeach

Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.

The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.

UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.

[smartcode_project:default project_id=136726 project_image_fid=362014]

There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.

A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.

&nbsp;

[smartcode_project:default project_id=136726 project_image_fid=362015]

Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.

Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.

“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”

[smartcode_project:default project_id=136726 project_image_fid=362020]

The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.

Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.

The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.

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Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

Reiq

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The latest Real Estate Institute of Queensland vacancy data for the December 2020 quarter shows Brisbane’s inner city rental market is seeing a comeback. 

Having rocketed to almost 5% in the June Quarter, rental vacancies in the CBD have eased to 3.3%. 

“The market has yet to fully rebound,” Antonia Mercorella, CEO of the REIQ advised.

Rental vacancies around the city’s middle ring remain tight, including Hawthorne (1.4%), New Farm (1.9%), Paddington (2.1%) and St Lucia (1.7%). 

Further out into Brisbane’s outer ring and vacancies are even tighter, including Camp Hill (1.3%), Cannon Hill (1.4%), Holland Park (1.2%) and Moorooka (1.3%). 

“In the last six months we’ve witnessed some record lows across capital city suburbs; figures we’ve certainly not seen for well over a decade,” Ms. Mercorella noted.

“It’s a similar scenario as you travel around the wider regions of Brisbane including Ipswich, Logan, Morton Bay and Redlands which all have uncomfortably low stock levels around 1%.” 

Across the State’s regional areas, Cairns (1.2%), Cassowary Coast (1.1%), Isaac (1.2%), Mareeba (1.5%) and the Whitsundays (1.4%) saw vacancies rise above 1%. 

However, for the remaining regional Queensland, rental vacancies have plunged further to record an all-time median low of 0.575% including Bundaberg (0.4%), Fraser Coast (0.6%), Hervey Bay (0.9%), Mackay (0.7%), Toowoomba (0.7%) and Townsville (0.7%). 

Rockhampton recorded the lowest rental vacancies for the December 2020 quarter at 0.2%. 

“During the pandemic, the Palaszczuk Government introduced a range of measures keeping tenants in place for longer which is part of the reason we have incredibly low rental availability across Queensland,” says Ms. Mercorella. 

“We have also seen a significant amount of interstate migration, with renters also moving to Queensland, so all of these factors have contributed to our current tight vacancy rates.”

The popular destination for interstate migration, the Sunshine Coast hasn’t shifted in months, firmly gripped at 0.3%. 

Many areas such as Buddina (0.3%), Caloundra (0.3%), Maroochydore (0.5%), Noosa (0.4%) and Sunrise Beach (0.5%) have continued to tighten marginally over the last three months.

The Gold Coast isn’t far behind, with Surfers Paradise, which recorded more than 2,100 vacant rentals at the peak of the pandemic nine months ago, currently at 0.7% stock availability. 

“In fact, its rental market has rebounded beyond pre-COVID levels to reach a record low never before recorded,” she said.

The record low vacancies reported across the entire Gold Coast include Arundel (0.6%), Labrador (0.7%), Oxenford (0.1%), Runaway Bay (0.5%) and Southport (0.7%) and in the south, Broadbeach (0.8%), Currumbin (0.3%), Miami (0.2%), Palm Beach (0.3%) and Varsity Lakes (0.6%). 
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Bundaberg, Fraser Coast, Hervey Bay, Mackay, Toowoomba and Townsville have seen their rental vacancies plunge to record an all-time median low


jchancellor

Record low rental vacancies across regional and coastal Queensland

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Antonia Mercorella, the CEO of the REIQ says the Queensland Government's proposed measures in the COVID-19 are the most onerous of their kind for property owners across all the states.
With landlords and real estate professionals emailing hundreds of letters to the Premier opposing the proposed measures, the REIQ is calling on the Palaszczuk Government to amend aspects of the proposed laws set to be debated in parliament today.
The measures include a rental grant of up to $2000 per person for COVID-19 affected tenants who have exhausted all other financial options.   
The REIQ wants the legislation to have rent deferrals rather than permanent rent waiver rights for tenants.
"This aligns with the Federal Government model and framework adopted/being adopted in other jurisdictions," Antonia Mercorella said.
“We support the protection of tenants who are in financial distress due to this pandemic.
"However, the scope of these proposed measures are too broad in their application.
"In fact, they are the most onerous of their kind for property owners across all Australian jurisdictions to date.”
The REIQ is calling for a minimum income reduction threshold for tenants to meet before they qualify for the protection measures as in New South Wales, a 25% income reduction requirement applies.
It also wants a standard requirement for tenants to substantiate a rent reduction request to allow landlords to make properly informed and fair decisions about rent reductions.
It seeks to scrap the proposed break lease right that allows tenants to simply walk away from tenancy agreements with only one weeks’ notice notwithstanding that those tenants are afforded all the other protections provided under the Renter Protection Package; and to also remove the proposed automatic right to a 6-month tenancy agreement extension which in effect introduces a 12-month moratorium in Queensland with the consequential imposition of permanent rent waivers that would be extended over this additional period.
“The current protection measures clearly ignore the voices and rights of property owners.
"Property owners, like tenants, are entitled to be supported by COVID-19 regulatory protections that support the entire rental market,” says Ms. Mercorella.
"And once landlords discover the true extent of these distorted reforms, it will cause a revolt of a kind not seen before in a residential tenancy context.”
Queensland, like NSW, will both provide up to a 25 percent discount on land tax for the 2020 calendar year as part of packages worth $400 million and $440 million respectively, on the proviso savings are passed to tenants in the form of rental relief.
 
 
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j.ballantyne1990-6AQqhLzZaK

REIQ leads revolt against Queensland Government's COVID-19 tenancy protections

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EXPERT OBSERVER
The Real Estate Institute of Queensland (REIQ) is seeking urgent action from the Queensland State Government to assist in maintaining the stability of the Queensland property market in the face of the economic impacts of the coronavirus (COVID-19) pandemic.
Queensland’s residential real estate sector is worth over $1 trillion and employs over 50,000 Queenslanders directly with many more employed in associated industries. Activity within the real estate sector contributes in excess of $30 billion every year to the Queensland Government.
Protecting and sustaining the Queensland real estate sector is critical to safeguarding our property market and supporting our local economy. In order to do so, strong action needs to be taken.
The REIQ has proactively developed a set of recommendations and proposed initiatives that will assist in minimising the potential economic impacts of the coronavirus (COVID-19) on the real estate sector. In order to maintain stability and optimism in the Queensland property market during the coronavirus (COVID-19) pandemic, The REIQ is urgently asking the Queensland State Government to:
a. Extend the First Home Buyers Grant to established housing: Expanding the First Home Buyers Grant beyond new construction will stimulate economic activity through the introduction of increased numbers of first home buyers to the broader property market. 
b. Implement a 50% reduction in development application costs across all Local Governments and introduce streamlined application processes: Removing barriers to development and reducing costs will assist to boost construction levels, increase competition and importantly, reduce cost for the end purchaser.
c. Deliver a 75% reduction in stamp duty for the period of the coronavirus (COVID-19) pandemic: A short-term, but significant, reduction in stamp duty payable on property transactions will have a positive effect on confidence within the property market. This, in turn, will offset the predicted drop in real estate transactions expected during the immediate crisis period. 
Lessening the financial burden of stamp duty in particular will lessen the perceived financial risk and act as a significant incentive to purchasers who may otherwise be discouraged from purchasing during this crucial period.
Similarly, such an initiative would encourage vendors to list their properties during the coronavirus period, buoyed by the likelihood of increased buyer activity.
In the 18 months following the end of the coronavirus (COVID-19) pandemic, The REIQ are urgently seeking the following further stamp duty related reforms to continue to support and stimulate the property market, which include:
a. Removal of stamp duty for persons aged 65+ years: This will encourage older Queenslanders to move into age-appropriate accommodation by reducing the financial burden of such a move. A likely consequence of this would be greater access to housing stock for younger Queenslanders.
b. A 50% reduction in stamp duty where residential investment property purchases are committed to the permanent rental market in Queensland for 3 years or more: A significant reduction in stamp duty for residential investment properties will have the effect of stimulating property investment in Queensland.
c. A 40% reduction in stamp duty for all other residential property purchases: A significant reduction in stamp duty payable on non-investment residential property purchases will have the effect of instilling confidence into the property market and provide incentive to individuals Australia-wide to consider migration to Queensland.
In calling for a 50% reduction in stamp duty for property purchases committed to the permanent rental market for 3 years or more (b), a natural consequence of the Prime Minister’s rental eviction moratorium and similar measure introduced to combat the financial impacts of the coronavirus (COVID-19) is that property investors (current or prospective) are likely to lose confidence in residential real estate as a viable investment option. 
Queensland has rapidly growing residential rental demand, a situation likely to be exacerbated by the financial impacts of the coronavirus (COVID-19). The combination of increased rental demand and decreased property investment is a looming social time bomb. More than 90% of Queensland residential investment property supply is provided by ‘mum and dad’ investors who are most likely to be sensitive to increased risk to their property investment returns.
A significant decrease in stamp duty payable on residential investment properties, qualified by enforceable commitment by investors to making that property available to the permanent rental market, will have the dual effects of stimulating investment confidence and activity. It will position Queensland as a highly attractive investment market and ensure adequate supply is maintained to meet increasing demand.
To support property owner generally impacted by potential reductions in rental income, and households financially impacted by the coronavirus (COVID-19), The REIQ is also urgently requesting the Queensland State Government to facilitate the following:
a. Provide a significant reduction or temporary removal of land tax for the period of the coronavirus (COVID-19) pandemic;
b. Waive local government rates for those who have lost their income as a result of this crisis; and,
c. Implement a 50% discount on local government rates to assist household budgets and assist in stimulating the Queensland economy. 
Finally, to directly support the real estate profession that provide front line contact with participants in the property market and an invaluable service to property owners, investors and tenants, both commercial and residential, The REIQ is urgently seeking the Queensland State Government to:
a. Provide a 12-month extension to all existing licence and registration holders in Queensland, commencing 1 May 2020;
b. Provide Queensland State Government funding to The REIQ to assist it to continue to provide essential resources, training and support to the real estate industry, during the coronavirus (COVID-19) period and beyond; and,
c. Provide Queensland State Government funding to establish a Property Think Tank to identify new initiatives to maintain and regenerate local property markets and create opportunities and jobs within the real estate sector, with the consequential benefit being the continued generation of State Government revenue.
The REIQ believes that it isn’t enough to put money in people’s pockets during this time; instead, we need maintain confidence in the Queensland property market and assist the real estate sector to ride out this crisis and emerge stronger and more resilient for the benefit of all Queenslanders.
The REIQ fundamentally believe these relief package measures will keep Queenslanders employed within the State’s second largest employment sector, keep essential services functioning at this critical time, and most importantly accelerate our State economy’s recovery once this crisis has passed.
ANTONIA MERCORELLA is the CEO of the REIQ 
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REIQ urgently calls on State Government to protect Queensland property market: Antonia Mercorella

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The REIQ has begun a digital campaign to alert voters to the "threat" of Labor’s negative gearing reforms.
REIQ CEO Antonia Mercorella said the campaign, called Stand For Stability, "will educate voters about the true impact of Labor’s very damaging negative gearing reforms, an impact that will affect every member of the community through devaluing assets, rising rents and lost government revenue."
“Labor’s proposed changes to negative gearing will be disastrous, adding further pressure to our fragile housing market by pushing down house prices, devaluing people’s biggest asset – their home or their investment property – and pushing up rents,” Ms Mercorella said. 
She highlighted recent concerns that many people don't understand what the proposed changes to negative gearing are and the effect it will have. 
Notably recent research from SQM has suggested rents could rise as much as 22 per cent if the reforms are introduced. 
Ms Mercorella said, “the research is very clear, the economy is facing challenges and the threat to growth is real. Labor will worsen housing affordability for renters through these reforms. Further, if recent reports are accurate, it is clear their policies are based on misleading, inaccurate data.”
“Why would Labor add fuel to the fire with these massive changes to negative gearing structures and capital gains tax arrangements? It’s reckless,” Ms Mercorella concluded
The online campaign will include animated videos, social media tiles and long form articles leading viewers and voters to <a id="LPlnk900533" href="http://reiq.informz.net/z/cjUucD9taT0yMDM0MTExJnA9MSZ1PTUxMzY3MDk2OSZsaT0xODA1NTI3MQ/index" target="_blank" data-auth="NotApplicable">StandForStability.com.au</a>.
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REIQ CEO calls Labor's negative gearing policy reckless and disastrous

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The inner Brisbane market has reported a sharp rise in rental vacancies, a lift from 2.1 per cent to 4.0 per cent in the December quarter.
But while this may seem a big jump, it’s actually not unusual for this market in the December quarter, the REIQ suggest.
"The 0-5km ring empties of renters in the Christmas/early January period and vacancies rise," said the REIQ chief Antonia Mercorella.
There has been an almost-decade long pattern of higher vacancies in December followed by a fall in the March quarter as the market returns to business as usual.
There was also a fall in the June and September quarters last year too in the inner city.
Brisbane’s middle ring (5-20km) held rock steady at 2.0 per cent from September to the December quarter. This closes out a very stable year for this region. In December 2017 the middle ring was 2.1 per cent, before it bumped up to 2.8 per cent in the March quarter. The June and September quarters were 2.1 per cent and 2.0 per cent respectively. The market forces of supply and demand are well balanced in this section of the market.
Brisbane LGA eased by 0.5 per cent, moving from a tight 2.0 per cent closer to a healthy ranking of 2.5 per cent. For most of 2017 this market averaged around 3.0 per cent to 3.5 per cent. Throughout 2018 it tightened a little as the more affordable middle ring lured tenants away from the central suburbs. But as supply to the inner city apartment market slows, it’s possible we’ll start to see this market tighten again over the coming year.
The Greater Brisbane region tightened from 2.4 per cent to 2.3 per cent.
A combination of factors is triggering investor nervousness in the Queensland rental market as the REIQ is seeing a slowdown in investor activity.
"Local agents in pockets of the southeast corner are reporting falling sales volumes, attributable to the perfect storm of real estate headwinds of tightened lending criteria, the legislation review, and the pending federal election," said Antonia Mercorella.
"As federal election campaigning begins to ramp up uncertainty around potential negative gearing adjustments and capital gains tax changes have caused many investors to hit pause on possible buying activity.
"The REIQ is hearing from agents that financing is causing contracts to fall over.
"We’re seeing tightened lending restrictions slowing both investors and first home buyers from getting into the market.
"The State Government’s ongoing review of the Residential Tenancies and Rooming Accommodation Act is adding to the unease, particularly given the types of changes introduced in Victoria following a similar review of its rental legislation.
"Investors are concerned about a loss of control over their asset and worry about unwieldy legislation that will reduce their rights while ramping up concessions to tenants," she said.
Outer Brisbane (Ipswich, Logan, Moreton Bay and Redland) tightened from 2.8 per cent to 2.0 per cent, moving from healthy to tight. This market is being dragged into tight territory by the Redlands, which fell from 4.8 per cent to 1.6 per cent.
Ipswich tightened from 2.4 per cent to 1.8 per cent. Local agents report some jitters from investors who are nervous about the ongoing State Government review of the Residential Tenancies and Rooming Accommodation Act. The population grew from 166,904 in 2011 to 193,733 – a gain of 26,829. This will add to the strain on rental accommodation.
Logan tightened from 3.5 per cent to 2. 4 per cent. This market has moved from healthy into tight and, similar to Ipswich, is partially feeling the impact of population growth. From 2011 to 2016, the population of Logan grew by more than 25,000, or the equivalent of more than 5,000 people a year. With many regions reporting muted investor activity this population growth will push vacancy rates lower.
Moreton Bay held steady at 2.0 per cent, the same as the September quarter. Home to North Lakes, one of the fastest growing SA2s in Queensland, according to ABS data, a stable vacancy rate of 2.0 per cent is noteworthy and indicates a region where supply and demand are well balanced. 
<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/2019/2/25/REIQ2.jpg" alt="">
The Gold Coast's December quarter vacancy rate saw a jump in the vacancy rate from 1.7 per cent to 4.8 per cent.
Several projects have been completed and added to the rental pool.
The largest of these is JLL’s Smith Collective build-to-rent dwellings.
The precinct has around 1251 dwellings, with first tenants moving in last month.   
Other developments have come online in Varsity, Broadbeach, Miami, Burleigh and Robina.
Agents are indicating that the market is price sensitive and tenants have choice, conditions that are relatively new to this market.
The REIQ signalled the third stand-out result for the December quarter was the Redlands, which tightened from 4.8 per cent to 1.6 per cent.
"This result represents a return to business as usual for this region which historically reports around 2 per cent vacancies," 
"The September result of 4.8 per cent was an outlier."
Local agents report that there has been noticeably less activity in the December/January period than usual.
Tenants are staying put, one property manager reported, summarising the general consensus on Redlands.
The Sunshine Coast SD (Sunshine Coast LGA and Noosa Shire combined) has tightened and is now firmly classified a tight rental market.
The vacancy rate has dropped from 2.4 per cent to 1.8 per cent. These tightened conditions will continue to exert upward pressure on prices and it is likely we will see some movement in rents if these conditions continue.
 
 
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Inner Brisbane vacancy rate jumps to 4 percent: REIQ

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Real estate peak body, The Real Estate Institute of Queensland, together with REA Group, the owners of listing portals realestate.com.au and Flatmates.com.au, have worked to establish a short-term solution for Townsville’s potential housing shortfall.
As the flooded homes are slowly cleaned up, displaced Townsville residents, along with workers flying into the city to help with repairs and clean-up efforts, may struggle to find suitable accommodation.
REIQ CEO Antonia Mercorella said she had seen this situation in other areas facing disasters, including the Whitsundays after Cyclone Debbie in 2017. 
"The displaced locals whose homes have flooded and the hundreds of workers who have come to the area to start on repairs place a strain on available accommodation.
“Flatmates.com.au will waive listing fees for those in Townsville who are opening their homes, rent free to anyone in need of short-term accommodation during the massive clean-up operation,” Ms Mercorella said.
“It’s difficult to forecast how severe the housing shortfall might be, but this kind of creative and proactive solution should help ease some of the strain on the housing supply,” she said. 
Single rooms are well suited to tradespeople who are only in town for short periods and this will hopefully free up larger housing accommodation for families who have lost their home and property.
<a id="LPlnk632194" href="http://reiq.informz.net/z/cjUucD9taT0yMDE1MTM0JnA9MSZ1PTUxMzY3MDk2OSZsaT0xNzc1NDQ3Mg/index" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Flatmates.com.au</a> general manager, Simon Hope, said housing solutions was at the heart of what REA Group is all about.
“We wanted to help by offering a solution that brings together those who have spare accommodation and those who are in need of accommodation in a simple and effective way,” he said.
 “This solution is about helping the people of Townsville get back on their feet, so Flatmates.com.au will be waiving all fees for those people offering rent free accommodation.” he said.
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REIQ and REA partner to ease Townsville housing shortfall

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Brisbane, the Sunshine Coast and the Gold Coast all posted record annual median house prices in the September quarter of the REIQ Queensland Market Monitor report. 
The Sunshine Coast was the best performer, delivering a 6.3 percent growth to a new median house price high of $595,000.
The Brisbane annual median house price grew 2.3 per cent to a new high of $675,000, while the Gold Coast grew 3.8 per cent to $629,000.
REIQ CEO Antonia Mercorella said the strength of growth proved that Queensland real estate was a good investment and could be relied upon to deliver capital growth.
“While other markets around the country are struggling in the face of tightened lending criteria and cooling investor appetite, the southeast corner of Queensland continues to deliver steady, sustainable growth,” Mercorella said.
<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/2018/12/11/REIQ1.jpg" alt="">
“Queensland’s economy is proving itself to be a good performer, against a backdrop of national gloom, with new jobs bringing population growth and demand for housing,” she said.
“The southeast corner is our powerhouse, without a doubt, but additionally we’re seeing strong results in regions that have been struggling.
“The resources sector is improving and we’re seeing regions such as Mackay and areas of western Queensland firmly in recovery.”
The unit market has not fared so well and has delivered largely softer results across the state as this product battles against oversupply issues.
Brisbane LGA annual median unit price fell 2.2 per cent to $440,000. This market is now only 5.5 per cent stronger than it was five years ago.
The Gold Coast unit market, which is the biggest unit market in the state with more than 10,000 sales per year, fell 1.6 per cent to an annual median unit price of $425,000.
“This is the first time we’ve been clear in the post-Comms Game period and it’s encouraging to see that the market is bubbling along," Mercorella said.
Click here to enlarge.
<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/2018/12/11/REIQ3.jpg" alt="">
"The house market has delivered good growth and the unit market is still absorbing some small oversupply, but on the whole we remaining optimistic for this market,” Ms Mercorella said.
The Sunshine Coast SD bucked the trend, adding 3.1 per cent to the annual median unit price, to reach $430,000.
Noosa was the strongest performing house and unit market for the 12 months to September 2018. The Noosa median house price grew 8.7 per cent to a stunning $715,000. The median unit price grew a breathtaking 12.2 per cent to a new record price of $550,000.
“This market has roared up to the top of the table and completely smashed the growth trends,” Ms Mercorella said. 
“The demand for living in Noosa, either in a house or unit, seems to be almost insatiable,” she said.
It was a mixed bag for houses in the regional markets.
Whitsundays saw a huge increase of 10.8 percent over the year to see its median house price reach $360,000. Mackay roared back to post a 5.6 percent growth in the annual median house price. 
Cairns (1.2%), Fraser Coast (1.1%) and Toowoomba (0.6%) saw their median house price grow, with Bundaberg remaining steady. 
The house price markets in Rockhampton eased 0.8 percent, while Townsville (-4.5%) and Gladstone prices fell significantly again, down 8.1 percent to $266,500.
 
 
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jrobinson-rf4aSBido9

Brisbane, Sunshine Coast and Gold Coast all post record annual median house prices in September Quarter

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Almost 70 Queensland suburbs delivered double digit house price growth over 12 months to June, according to the latest REIQ research from the Queensland Market Monitor report.
There were 11 suburbs that reached an annual house price growth of more than 20 percent.
The top performing was Blackwater in the Central Highlands region not far from Rockhampton, which saw its prices soar 151%.
Spring Mountain near Ipswich grew over 103%, while there was more success all along the Queensland coast.
House prices in Collinsville, inland from the Whitsundays rose 46% over the year, during which Minyama (45%), Hollywell (30%), Mount Coolum (pictured above, 22%), Dundooran in Hervey Bay (21%) and Idalia in Townsville (21%) grew as the coasts best performers.
Hamilton (33%), Miles (23%), and Boonah (21%) were the inlands best performers also secured over the 20 percent growth mark.
Click here to <a href="https://www.propertyobserver.com.au/images/2018/11/7/top-qld.jpg" target="_blank">enlarge the full list.</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/2018/11/7/top-qld.jpg" alt="">
REIQ CEO Antonia Mercorella said while many headlines predicted doom and gloom for the property market, the reality was very different with many markets in Queensland performing exceptionally well.
“A total of 68 suburbs throughout Queensland have delivered double-digit growth over 12 months, which is a really strong result,” Mercorella said.
“And there are m any more suburbs delivering strong single-digit growth. It’s a great market to be in at the moment.”
“The top area delivering the strongest growth has been Blackwater, with 151 per cent growth. This is a results of the resurgence in coal prices and the low base starting point."
A total of 41 suburbs in the southeast corner dominated the list of top performers for capital growth in Queensland, comprising around 60 percent of all 68 suburbs included on the list.
Mercorella however suggested the suburbs delivering good growth are not all focused in the southeast corner, with a liberal sprinkling of suburbs throughout central and northern Queensland.
“This spread of suburbs is a good indication that Queensland real estate is delivering steady sustainable growth across the board. We’re seeing growth outside the southeast corner,” Ms Mercorella said.
Mercorella cautioned against celebrating another ‘boom’.  
“While we’re definitely seeing prices come back in western Queensland mining towns, such as Blackwater, these prices are still below their peak. It’s unlikely we’ll see a return to pre-2013 prices in those areas anytime soon,” she said. 
A total of 13 suburbs in Brisbane LGA made the list of top performers for the past year. Hamilton was the fifth strongest performer in Queensland and the best performer in Brisbane LGA.
House prices in Hamilton increased 32.9 per cent for the past year, to $1,442,000. Hamilton was also the most expensive suburb included on the list of Queensland top performers.
Other suburbs in Brisbane LGA reaching a capital growth for houses of 10 per cent or higher were Sandgate, Paddington, Mount Ommaney, Sunnybank, Graceville, Hendra, Shorncliffe, Seven Hills, Nundah, Kedron, Bulimba and Auchenflower.
Ipswich had six suburbs on the list, the Gold Coast had four and Moreton Bay had three. Redland and Logan had not suburbs on the list. 
Hollywell in the Gold Coast is listed as the sixth performer in Queensland, with houses reaching a capital growth of 30.5 per cent for the past year taking its median to $810,000.
The top performer in regional Queensland was Townsville, where there were four suburbs reaching double digit house price growth. 
Cairns and Gympie had three suburbs on the list of top performers. 
Palm Cove was the best performer in Cairns, ranking 26th within the Queensland tally. House prices in Palm Cove increased 14.3 per cent, to $606,000 in June 2018. 
The Whitsunday only reported Collinsville on the list, which is ranked third throughout the state. Collinsville is a mining town, reporting an annual capital growth for houses of 46.2 per cent, to $95,000 in June 2018.
 
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Coastal areas star as Queensland's double-digit growth suburbs are revealed: REIQ

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<div>The Queensland rental market has tightened over the year to June 2018.</div>
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<div>The latest quarter reported 24 tight markets, up from 19 tight markets in the March quarter according to the latest report from REIQ.</div>
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<div>Brisbane LGA ’s rental market moved from the healthy range, with vacancies of 3.1 per cent in March, to the tight range, with 2.3 per cent in June 2018.  However, this market is being described by local agents as patchy, with tenants favouring certain pockets over others.</div>
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 The rental markets in Greater Brisbane, including the outer Brisbane regions of Ipswich, Logan, Moreton Bay and Redland, are tight with vacancies in the range of 1.2 per cent to 2.5 per cent.</div>
<div>
 The historically tight markets of the Sunshine and Gold coasts have loosened this quarter, however, they have for the most part remained within the tight range.</div>
<div>
 The Fraser Coast rental market tightened more than 1 percentage point, from 1.9 per cent to 0.8 per cent.  Regional Queensland continued strengthening this quarter, with Toowoomba, Mackay, Bundaberg, and Rockhampton operating within the tight or healthy range.</div>
<div> </div>
<div>Greater Brisbane’s vacancy rates tightened to 2.2 per cent, sitting within the tight range for the first time in nearly three years.</div>
<div>
 The tightest of all markets in Queensland is South Burnett, where vacancies were recorded at 0.5 per cent.</div>
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<div>The tightest major centre rental market is Maryborough, with 0.7 per cent vacancy rate (a tightening of 1.8 per cent) from 2.5 per cent in the March quarter.</div>
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<div>Cassowary Coast is the weakest rental market in Queensland. This market is historically weak but 5.9 per cent is an improvement on recent levels which included 11.5 per cent in December 2017.</div>
<div> </div>
<div>The second weakest major centre market is Townsville at 4 per cent vacancy rate however in March 2017 the Townsville vacancy rate was 6.2 per cent.</div>
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Brisbane patchy, as REIQ reports the increasing tightness of rental markets

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The REIQ membership have voted to change the constitution, mandating two member director positions for women and one for an under-35.
To change the constitution a special resolution requires support from 75 per cent of the membership.
These changes mark a shift for the 100-year-old organisation, signifying a drive to ensure greater diversity in the boardroom and bringing it into line with modern corporate Australia.
“Women make up 50.6 per cent of the population in Queensland and yet they are under-represented at a boardroom level throughout the state,” REIQ Chairman Peter Brewer said.
“Governments and corporations are introducing these targets to ensure that a range of ideas from diverse backgrounds are heard at all levels and the REIQ is among them,” Brewer added. 
In its 100 year history, the REIQ membership has elected only seven women to the Board and only one under-35-year-old Member Director.
This constitutional change reflects the new three-year strategic plan that focuses on being more inclusive and developing a deeper understanding of our membership.
“Like all membership organisations, we are struggling to connect with younger people and we want to make sure that our decisions are made with the entire membership in mind, reflecting the diverse range of voices and experiences in the membership,” he said.
The REIQ CEO is Antonia Mercorella, the first woman to be appointed to the role in its 100-year history.
The REIQ Board already mandates two positions reserved for regional Queensland Member Directors.
The changes to the constitution will roll out over the next two years and be in full effect by 2020.
The REIQ is the peak body for real estate practitioners throughout Queensland, representing more than 15,000 real estate agents, property managers, buyers agents, business brokers, auctioneers and commercial &amp; industrial agents.
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