Brisbane-based developer <a href="https://www.apartments.com.au/developers/azure">Azure</a> is has been greenlit for its $115 million residential project within the Gold Coast Health and Knowledge Precinct in Southport

Following the acquisition of the site at <a href="https://www.apartments.com.au/new-townhouses/1-clarke-street-southport-qld-4215">1 Clarke Street</a> in October 2025 with development application Lodgement in January 2026, Azure has been granted approval for the 114 terraces which will form the final stage of the wider Lumina development.

“It’s a fantastic milestone for us to receive the green light on our second Gold Coast project,” said Trent Keirnan, Founder of Azure.

“The Gold Coast continues to evolve, with demand for considered, high-quality residences at an all-time high. This project has been thoughtfully shaped to respond to that demand.

“We’ve worked closely with Economic Development Queensland to bring this project forward, and the collaboration has been both proactive and highly considered. Their shared commitment to quality housing outcomes has enabled a streamlined approvals process and a strong result for the precinct.”&nbsp;

Appealing to a wide demographic, the project will deliver a range of two- and three-storey designs comprising a collection of three-bedroom terrace homes as well as one- and two-bedroom apartment-style residences. The designs by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>&nbsp;focus on&nbsp;“urban coastalism”.

Residents will have access to an array of lifestyle amenities, including a resort-style pool with multiple lounging zones and landscaped gardens.

The residential offering will support the thriving Health and Knowledge Precinct, which includes Griffith University, Gold Coast University Hospital, Gold Coast Private Hospital and the new RDX Lumina and Proxima Towers, which are home to a range of health, education and research tenancies, including a 200-place childcare centre.

Azure aims for an off-market release for the project in the third quarter of this year, at the same time as construction is anticipated to start.

Joel Robinson

Azure approved for new townhouse development in Southport

Fortis has secured approval for a 57-room hotel at Richmond Square, marking another milestone in the delivery of the $330 million mixed-use precinct in Melbourne's inner east.

The hotel will occupy Levels 1 and 2 of Carmine House and forms part of Fortis' vision for Richmond Square, a precinct that will bring together apartments, hospitality, wellness and lifestyle offerings between Richmond and Cremorne.

Once complete, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> will comprise 107 residences across Wiltshire House and Carmine House, alongside the hotel, hospitality venues, wellness facilities and a range of services aimed at both residents and visitors.

[smartcode_project:default project_id=13181 project_image_fid=348529]

The approval adds another layer to what Fortis is creating at Richmond Square, as developers increasingly look beyond standalone apartment buildings and towards mixed-use precincts that provide amenity and activation beyond the front door.

Jordan Winada, Head of Acquisitions (Commercial) Victoria at Fortis, said the approval was an important step in delivering the broader vision for the project.

"Richmond Square has always been about creating a destination rather than simply delivering residential apartments," Winada said.

"As buyer expectations continue to evolve, we're seeing increasing demand for developments that offer convenience, connection and access to high-quality experiences and amenity as part of everyday life.

"The hotel approval allows us to further realise that vision and create a precinct where residential living is complemented by hospitality, services and amenity in a way that is rarely seen in Melbourne's CBD and city fringe."

[smartcode_project:default project_id=13181 project_image_fid=348530]

The hotel will also support a range of optional services for residents of Carmine House, including housekeeping and linen refresh programs, laundry and dry-cleaning services, in-residence food and beverage delivery, grocery and pantry stocking services, and concierge assistance.

The approval comes as owner-occupiers continue to dominate Australia's new apartment market, with buyers increasingly seeking developments that offer convenience, flexibility and lifestyle amenity alongside their homes.

Winada said buyers are now placing greater emphasis on the broader precinct and surrounding amenity when making purchasing decisions.

"Residential amenity is no longer limited to what sits within an apartment building. Buyers are increasingly assessing the broader lifestyle ecosystem surrounding their home and the ways in which a precinct can support their day-to-day needs.

"Richmond Square has been designed to provide that experience through a carefully curated mix of residential, hospitality and lifestyle offerings that work together to create a more connected way of living."

[smartcode_project:default project_id=13181 project_image_fid=348534]

The hotel is expected to open in early 2027, with the operator to be announced later this year.

Further hospitality, retail and lifestyle tenants are also expected to be revealed in the coming months as Fortis continues to shape the offering at Richmond Square.

[smartcode_project_cta:default project_id=13181]

Fortis approved for hotel component of Richmond Square precinct

Having successfully expanded into a new region with its Caloundra apartment development, Sunset by Dusk Group, growing South East Queensland developer Dusk Group is again venturing into new territory.

The developer has lodged plans for a 70-apartment project in the Moreton Bay region, to be known as <a href="https://www.apartments.com.au/new-apartments/sunrise-on-sutton-25-sutton-street-redcliffe-qld-4020">Sunrise on Sutton</a>, named after its prime Sutton Street location, just one street back from Suttons Beach.

<img alt="Sutton" data-entity-type="file" data-entity-uuid="88a9f9ee-6ace-47f5-a0c6-8fb134b27e98" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-15%20at%209.20.42%E2%80%AFAM.png?VersionId=iMXmJ7_BNZAmCt.jjupMSLdV_Qa9zJAK" />

Dusk Group Directors Huw Feeney and Anthony Short seized the opportunity to acquire the near-1,800 sqm amalgamated corner site at Sutton and Ella Streets for their first project in the area.

They have again enlisted MAS Architecture Studio, the architects behind Sunset by Dusk, to design the new eight-storey development.

The building will comprise a mix of one, two and three-bedroom apartments and has been designed to maximise views towards Suttons Beach, Margate Beach and Moreton Bay.

Pending approvals, the project could launch before the end of the year.

<img alt="Dusk" data-entity-type="file" data-entity-uuid="90c0c26c-096c-4ceb-8c58-f8303aea542f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-15%20at%209.20.49%E2%80%AFAM.png?VersionId=nw8bqQtpOrf5nA95tuYhtqdB59YUzmO0" />

The development will provide 111 car parking spaces and 40 bicycle spaces.

Positioned within walking distance of Suttons Beach, Bluewater Square, Redcliffe Hospital and the Redcliffe Paceway, the development will sit within one of the peninsula's increasingly urbanised coastal pockets.

Redcliffe's new apartment market remains exceptionally tight, with Gardner Vaughan Group's One Redcliffe currently the only new apartment development actively being marketed in the beachside suburb.

It's another beach-focused development for Dusk Group, who has seen considerable success at its Caloundra apartment development, <a href="https://www.apartments.com.au/new-apartments/sunset-by-dusk-group-caloundra-5-7-bombala-terrace-caloundra-qld-4551">Sunset by Dusk Group</a>.

Over 80 per cent of the 36 apartments have sold ahead of its early 2027 completion.

&nbsp;

First look: Dusk Group targets Suttons Beach precinct with 70-apartment Redcliffe proposal

Leading Brisbane developer <a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group (CPG)</a> has completed and settled $450 million worth of apartments at Monarch Residences in Toowong, marking one of Brisbane’s most significant and prestigious riverfront residential completions in recent years.

The final apartment at Monarch sold at auction on the 30th May for $4.1m.&nbsp;

The milestone has been marked at a ribbon-cutting ceremony at <a href="https://www.apartments.com.au/buildings/monarch-residences-toowong-600-coronation-drive-toowong-qld-4066">Monarch Residences</a>, with Cr Penny Wolff highlighting the importance of completing major residential projects to boost the city’s much-needed housing supply.

The 224 apartments, delivered across two 15-level towers, are now officially in the hands of owners, including Brisbane downsizers, families and professionals who have traded traditional houses for apartment living. The completion underscores sustained demand for absolute riverfront living in Brisbane’s inner west.

<img alt="$450M Monarch Residences sells out as Brisbane riverfront demand surges" data-entity-type="file" data-entity-uuid="56ae05e9-092f-41f0-98a1-a10984fdd171" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ROBNN_MONARCHLAUNCHEVENT-131.jpg?VersionId=p76J6weGZqseNrE6aOAjmAHUah.y65Gd" />

Monarch Residences was planned and delivered over four years on a 1.2-hectare parcel with more than 130 metres of direct frontage to the Brisbane River, occupying one of the last remaining true riverfront sites of its scale and orientation within close proximity to the CBD. The site has been transformed from an underutilised, derelict block of land, into a thriving residential precinct with Middenbury House at its centre.&nbsp;

Consolidated Properties Group CEO and Chairman Don O’Rorke says the project’s completion represents the culmination of years of careful planning, design collaboration, market conviction and outstanding team delivery.

“We announced Monarch Residences in late 2021 and it’s been one of the most strongly received residential projects in our 45-year history,” Mr O’Rorke said.

"We are incredibly grateful to the outstanding team who helped bring Monarch Residences to life. A special thank you to Hutchinson Builders and their hardworking labour force for delivering a development of exceptional quality that our residents will be proud to call home for many years to come.

“Brisbane City Council and Titles Queensland also played a huge role in getting residents into their homes early through the pilot programs they ran to speed up the approval processes. They understand the challenges of the housing industry and are doing something about it.”&nbsp;

[smartcode_project:default project_id=113455 project_image_fid=211466]

Consolidated Properties Group Head of Residential, James MacGinley said Monarch Residences showed what could be achieved when private industry and government worked together to deliver new housing for Brisbane.

“Monarch Residences has delivered more than 200 new apartments in Brisbane’s inner-west at a time when additional housing supply is critically important,” MacGinley said.

“It’s fantastic to see residents now moving into this landmark riverfront development, which reflects the strength of collaboration between Council and the project team throughout delivery.

“All government agencies played a significant hand in achieving a fast-tracked outcome for Monarch Residences with Brisbane City Council, Urban Utilities, Energex and Titles Queensland assisted to remove hurdles to achieve settlements.”

[smartcode_project:default project_id=113455 project_image_fid=302326]

With Monarch Residences now complete, CPG has launched River Living, a bespoke on-site property management service designed to enhance the resident experience. The service will support all future CPG residential projects, including the recently announced <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> in Yeerongpilly and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a> in Newstead.

The completion also marks the opening of a prized leasing opportunity at the heritage-listed Middenbury House, built in 1865 and which has been carefully restored and integrated into the broader masterplan.&nbsp;

CPG said the adaptive reuse of the landmark riverfront residence presents an opportunity to introduce a complementary boutique tenancy that respects the site’s historic significance while activating the riverfront frontage.

[smartcode_project:default project_id=113455 project_image_fid=211495]

Colliers Director of Residential Andrew Scriven said the move-in phase highlights continued demand for completed premium riverfront apartments in Brisbane.

“Residents are now experiencing firsthand the scale, craftsmanship and irreplaceable riverfront position that Monarch offers,” Scriven said.

“Opportunities to secure a brand-new, completed residence on Brisbane’s absolute riverfront are exceptionally rare. Combined with the proven track record of Consolidated Properties Group and Hutchinson Builders, combined with a design vision brought to life by some of Australia’s leading architects and designers, Monarch represents a unique opportunity to purchase a home of enduring quality and prestige.”

Monarch Residences was designed in collaboration with Melbourne-based architect Wardle Studio, alongside leading national practice Cottee Parker, with construction delivered by Hutchinson Builders.

[smartcode_project_cta:default project_id=113455]

Consolidated Properties Group sells out Monarch Residences as Brisbane riverfront demand surges

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

First look: HSN, Rebel, advances Woolloomooloo precinct plans

Reiwa

<html><body>
Leasing activity in Perth lifted 32% in May, with reiwa.com data revealing 4,915 properties were tenanted over the month.
Tenant activity was very healthy in the metro area, the REIWA President Hayden Groves said although noting Perth’s private rental sector continued to present its challenges for landlords.
“Leasing activity was slightly subdued in April as a result of the Easter and ANZAC Day breaks, but rebounded strongly in May to record levels which now sit 17% higher than they did in May 2016,” Groves said.
Data from reiwa.com shows all five sub-regions experienced notable increases in activity over the month, with the North East sub-region the standout for May, increasing 35.5%.
“The South West and Central sub-regions also had particularly strong months, recording increases in leasing activity of 33.7% and 33% respectively.
“At a suburb level, East Perth, Perth and Scarborough in the Central sub-region had the highest volume of properties leased in May,” Groves said.
Although rental stock levels remain high in Perth, data for May shows listings were stable over the month with no change recorded.
Groves said there were hints that listing levels had finally begun to stabilise.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Residential leasing activity levels remain elevated in Perth

<html><body>
Six out of the 12 locations across regional WA experienced positive median house price growth in the December quarter 2016.
REIWA President Hayden Groves dubbed it an optimistic sign for the regions.
Preliminary Landgate data shows the median growth up 1.4 percent over the quarter to $355,000.
Although sales activity in Northam was subdued in the December quarter, it was the best performing regional centre for median house price growth, with its quarterly change in the annual median increasing 18.6 percent in the three months to December 2016.
Other top performers for median house price growth were Busselton Urban Area and Esperance Urban Area, which experienced lifts of 12.1 and 7.1 percent respectively, Hayden Groves said. 
The Broome and Port Hedland regional centres had the most notable softening of median house price in the December quarter. 
 
<table style="width: 438px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="142">
Regional centre
</td>
<td valign="top" width="154">
Annual median house price (Year to December 2016)
</td>
<td valign="top" width="142">
Quarterly change in the annual median house price
</td>
</tr>
<tr>
<td valign="top" width="142">
Albany Urban Area
</td>
<td valign="top" width="154">
$380,000
</td>
<td valign="top" width="142">
3.8%
</td>
</tr>
<tr>
<td valign="top" width="142">
Broome Urban Area
</td>
<td valign="top" width="154">
$475,000
</td>
<td valign="top" width="142">
-12.8%
</td>
</tr>
<tr>
<td valign="top" width="142">
Bunbury Greater
</td>
<td valign="top" width="154">
$380,000
</td>
<td valign="top" width="142">
4.1%
</td>
</tr>
<tr>
<td valign="top" width="142">
Busselton Urban Area
</td>
<td valign="top" width="154">
$480,000
</td>
<td valign="top" width="142">
12.1%
</td>
</tr>
<tr>
<td valign="top" width="142">
Esperance Urban Area
</td>
<td valign="top" width="154">
$337,500
</td>
<td valign="top" width="142">
7.1%
</td>
</tr>
<tr>
<td valign="top" width="142">
Geraldton/Greenough
</td>
<td valign="top" width="154">
$312,500
</td>
<td valign="top" width="142">
-4.7%
</td>
</tr>
<tr>
<td valign="top" width="142">
Kalgoorlie/Boulder
</td>
<td valign="top" width="154">
$334,750
</td>
<td valign="top" width="142">
1.4%
</td>
</tr>
<tr>
<td valign="top" width="142">
Karratha Urban Area
</td>
<td valign="top" width="154">
$265,000
</td>
<td valign="top" width="142">
-1.9%
</td>
</tr>
<tr>
<td valign="top" width="142">
Mandurah/Murray
</td>
<td valign="top" width="154">
$372,000
</td>
<td valign="top" width="142">
-2.1%
</td>
</tr>
<tr>
<td valign="top" width="142">
Northam
</td>
<td valign="top" width="154">
$255,000
</td>
<td valign="top" width="142">
18.6%
</td>
</tr>
<tr>
<td valign="top" width="142">
Port Hedland
</td>
<td valign="top" width="154">
$262,500
</td>
<td valign="top" width="142">
-6.3%
</td>
</tr>
</tbody></table>
Sales volumes were down across regional WA in the December quarter, with preliminary Landgate data showing 1,264 transactions.
The figure was expected to be around 1,500 once all sales had settled.
“Albany and Broome were the strongest performers for sales activity over the quarter, bucking the trend to record stable volume levels.
REIWA analysis shows the bulk of regional sales transactions in the December quarter remained in the $150,000 to $360,000 price range.
“In Bunbury and Albany, while the majority of transactions were below $500,000, both regional centres saw an increase in activity in the higher end of the market.
"It has contributed to the quarterly median house price for both areas lifting,” Mr Groves said.
It was, on average, two days faster to sell a property in regional WA in the December quarter than it was in the September quarter.
“Drilling down, six of the regional centres saw improvements in the number of days it took to sell a property.
Albany and Bunbury were among the most improved, with it being 17 and 10 days quicker (respectively) to achieve a sale in those centres,” Mr Groves said.
Other regional centres to record an improvement in average selling days over the quarter were Northam, Esperance Urban Area, Mandurah/Murray and Geraldton/Greenough.
Meanwhile the Karratha Urban Area was unchanged on the September quarter.
When it came to discounting, the proportion of sellers needing to drop their asking price over the quarter remained stable in comparison to the September quarter at 63 percent.
“We did however see a decline in the amount sellers were needing to reduce their asking price by.
It would have been a contributing factor to regional WA’s overall median increasing in the December quarter,” Mr Groves said.
Property Observer found this three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-wa-spencer+park-123406654" target="_blank">16 Tunney Way, Spencer Park, WA</a><a href="https://www.realestate.com.au/sold/property-house-wa-spencer+park-123406654"></a>, (pictured above) that sold in February for $340,000 in the Albany district.
</body></html>

House price growth emerging in regional Western Australia: REIWA

<html><body>
A new study on housing affordability for people on very low to moderate incomes in Perth has found a mismatch between the availability of housing and what is affordable.
The report, Housing Affordability – A study for the Perth metropolitan area, a collaboration between the Real Estate Institute of Western Australia, the Housing Authority and Shelter WA, concentrated on affordability for households on very low (less than $43,000), low ($43,000-$69,000) and moderate incomes ($69,000-$86,000).
Brendon Grylls, Housing Minister  said that while the property market has softened, improving availability for some, those on the lowest incomes are still finding it extremely difficult to find available, appropriate and affordable housing.
“With over 80 percent of sales being larger properties, it’s also evident that there’s a lack of diversity in Perth’s housing stock,” he said.
“Housing affordability is a complex issue and the information in the report will inform the Housing Authority in the delivery of its commitments under the State Affordable Housing Strategy, which is on track to provide 30,000 affordable housing opportunities by 2020.”
Chantal Roberts, Shelter WA executive officer said the research identifies the limited housing options for low to moderate income households in WA.
“There are many households, including key workers, that are trapped in our insecure private rental market due to a lack of diverse and affordable options, particularly in locations close to jobs and services,” she said.
“A range of varied and affordable housing is needed across all areas to support the development of strong and diverse communities.”
Hayden Groves, REIWA president said the report highlights key issues affecting the industry and the community as a whole.
“We can see from the findings that both housing affordability and diversity are issues to be addressed and we’re looking forward to working with both the Housing Authority and Shelter WA on further research regarding the state of the WA housing market,” Mr Groves said.
</body></html>

Housing affordability still difficult for low-to-moderate income earners in Perth

<html><body>
The Parliament of Western Australia has passed the Residential Tenancies Amendment Bill 2015 and the Licensing Provisions Bill 2015, with amendments being made to the Residential Tenancies Act, the Real Estate and Business Agents Act, and the Auction Sales Act.
This is a result of initiatives put forward by the Real Estate Institute of Western Australia (REIWA), who has been advocating for these major changes which will create direct savings for the real estate industry.
REIWA chief executive officer Neville Pozzi said the amendments will not only result in a reduction in administrative burden and cost savings for tenants, lessors and real estate agents, but also increase efficiencies that are expected to contribute towards keeping downward pressure on rental costs for tenants.
“REIWA commends the Barnett Government, the Minister for Commerce and the Opposition for passing the bills, which will reduce compliance costs, save the industry money and make it easier to conduct real estate business in WA,” he said.
The proposed amendments will include changes to the following:
Residential Tenancies Act changes:
<ul>
<li>Will simplify the process when a lessor is required to issue a notice of proposed entry to the tenant;</li>
<li>Will enable the service of notices and documents under the act by electronic means</li>
<li>Will remove the requirement for notices of abandoned goods to be advertised in a newspaper circulating throughout the state.</li>
</ul>
Real Estate and Business Agents Act changes:
<ul>
<li>Will remove the prohibition on real estate agents from receiving commission prior to settlement from an off the plan strata sales transaction (as defined by the act).</li>
</ul>
Auction Sales Act changes:
<ul>
<li>Will allow auction licensing renewals to align with other industry license renewal periods, up to three years.</li>
</ul>
Once both bills receive royal assent, are proclaimed and gazetted as acts in the coming weeks, businesses operating within the real estate industry can start implementing these changes into their practices.
</body></html>

Legislation passed to cut costs for WA real estate industry

<html><body>
The Real Estate Institute of Western Australia has assisted in the introduction of new codes of conduct for real estate agents, sales representatives, settlement agents and land valuers which support industry best practice and provide consumer protection.
REIWA president Hayden Groves thanked the Minister for Commerce, the Hon. Michael Mischin MLC, and the Department of Commerce for carrying out a detailed consultation process and working closely with the institute to develop the new codes.
“We congratulate Minister Mischin for working closely with REIWA and other industry stakeholders to ensure the codes benefit all those involved with buying, selling or leasing property,” Groves said.
“It’s important that there are measures in place to ensure the industry maintains high standards of practice and service.”
The Code of Conduct for Agents and Sales Representatives 2016 comes into effect this month with a two month transition period.
</body></html>

REIWA recognises new codes of conduct for WA property

<html><body>
A continuining drop in first home buyer numbers has chief executive of the Real Estate Instute of Western Australia (REIWA), Neville Pozzi, warning the government not to introduced any stamp duty increases for first timers.
He said that this drop should come as a budget warning to the state government.
“Given that first home buyers are dropping in numbers, it’s critical that the Treasurer doesn’t bring back stamp duty for this segment of the market,” Pozzi said.
Currently, first home buyers in Western Australia are exempt from stamp duty payments for homes under $500,000.
“It’s very concerning, however, that Premier Barnett has indicated that the current tax break for first home buyers is under review and might be changed,” he said.
“The housing market is very susceptible to cost pressures and making first homes more expensive would be a terrible blow to the market just as it’s starting to stabilise,” he said.
FHOG applications for the March quarter, as recorded by the Office of State Revenue, recorded a 9% drop. This is 21% below the June 2013 peak.
This drop is across both the established and new-build sectors, with established homes dropping by 14%.
“This means that grants being paid out have now fallen below the average since the FHOG was first introduced 14 years ago,” he said.
He noted that the "last thing" the market needs at present is any added cost pressure on first time buyers.
The median purchase by first home buyers in March was $470,000 in Perth, and $350,000 in regional Western Australia.
</body></html>

Reiwa

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Reiwa

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News