<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

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The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

Residential Market

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<div>It's very much true that monthly figures often don't tell you a lot, and even annual figures are often quite misleading. </div>
<div> </div>
<div>But over a period of years now we have seen Melbourne come to utterly dominate population and employment growth in Victoria, directly at the expense of the state's regional centres. </div>
<div> </div>
<div>Over the past year Greater Sydney (+67,200) and Greater Melbourne (+59,700) have both added a healthy balance to their total employed figures respectively, while Greater Brisbane added a solid (+34,900).  And after some years of stagnation regional New South Wales (+60,900) has now at last come to the party, adding jobs in the state's regional centres both to the north and south of the harbour city. </div>
<div> </div>
<div>However, mirroring what I already discussed in more detail here when analysing the latest population growth figures, regional Victoria added just 900 jobs over the year. </div>
<div> </div>
<div>In fact, if you strip out Geelong which added nearly 20,000 jobs over the year to March 2016 to see its unemployment rate fall to just 5.2 per cent, the rest of state has been going backwards as Greater Melbourne powers along. The most recently available population growth figures painted a very similar picture.</div>
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<div class="separator">It is true that annual figures can sometimes be misleading, but population and employment projections are becoming increasingly lopsided towards the capital city in Victoria to the extent that regional Victoria could actually soon even soon be seeing its population decline in aggregate.</div>
<div class="separator"> </div>
<div class="separator">In fact, regional employment growth has been generally very weak in aggregate across all states outside of the Premier State, despite some tourism-related gains in Queensland's coastal regions. </div>
<div class="separator"> </div>
<div class="separator">Regional employment fell year-on-year, for example, in both South Australia (-900) and Western Australia (-15,900), the latter's labour force having been severely dampened by the end of the mining construction boom. </div>
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<div>Totting it all up we can see just how skewed employment growth has been towards a few capital cities, and certain parts of regional Queensland. </div>
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 Unemployment rates
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<div>Low interest rates are working their magic in the three largest capital cities where rolling annual unemployment rates are having been trending down nicely, in Greater Sydney, in Greater Melbourne, and in Greater Brisbane. </div>
<div>
 Elsewhere it's not such a pretty picture, particularly in Adelaide which now has by far and away the highest unemployment rate of the capital cities.  Greater Perth's rolling annual unemployment rate now seems to be holding firm at just under 6 per cent.</div>
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<div>Sydney continues to have the best placed economy, reflected in generally low unemployment rates, especially in its inner suburbs. </div>
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<div>
Ripple Sydney and to a somewhat lesser extent Melbourne have seen their property markets take off since 2012 in response to low interest rates, but where will that growth ripple to next?</div>
<div> </div>
<div>In my opinion, we could easily see a spike or "pop" in house prices in Hobart and Adelaide, following so many years of subdued property price growth and a relatively moribund construction industry which has seen rental markets become fairly tight in some cases.  In fact, this "pop" in prices may already be happening to some extent. 
</div>
<div>However, with low employment growth, slow population growth, and slow economic growth, more sustainable property price increases will be much harder to come by. </div>
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<div>Over the course of the next cycle, Brisbane probably has the best property market prospects due its relative affordability.  Despite slower net overseas migration than it previously experienced Queensland benefits from interstate migration (as opposed to, say, South Australia, where a brain drain represents the opposite dynamic). </div>
<div> </div>
<div>The unemployment rate has also steadily been trending down in Brisbane, helped by a construction boom. </div>
<div> </div>
<div>True, the economy has hardly been firing, even if things are broadly tracking in the right direction.</div>
<div> </div>
<div>But the initial trigger for rising property prices is simply likely to be rising property prices, with the cheapest available cost of borrowing having not far off halved since the last time the city saw any price growth in real terms, and interstate investors struggling to see so much value elsewhere. </div>
<div> </div>
<div>In fact, dwelling prices are already rising quite fast in some areas of Brisbane, reflected in year-on-year median price growth of above +6 per cent for Brisbane and Gold Coast (CoreLogic-RP Data), but the market is quite multi-speed, particularly with the volume of construction going on. </div>
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<div>Regional headwinds</div>
<div> </div>
<div>Brisbane offers something that Sydney and Melbourne no longer do, being cheap entry prices. </div>
<div> </div>
<div>And if you're looking for cheaper entry prices still and higher initial rental yields you may be tempted further afield.</div>
<div> </div>
<div>However, remember that yield and income are not the same thing, and in the field of investment a higher yield can often be reflective of higher risk. </div>
<div> </div>
<div>In particular a once-in-a-century commodities and resources construction boom must eventually experience a corresponding decline, and so regions with a concentrated exposure to a narrow range of industries may see a spike in unemployment, which tends to result in slowing population growth, falling property prices, and rising vacancy rates (which is the ultimate risk for leveraged investors).</div>
<div> </div>
<div>I don't know much about how Townsville's property market is tracking lately, but do note that unemployment just hit its highest level in 13 years this month after the commencement of the Yabulu lay-offs. </div>
<div> </div>
<div>Granted monthly unemployment readings at the sub-regional level are incredibly seasonal and are about as reliable as a beat up Datsun. But this is not a coincidental result with Townsville having witnessed nearly 10,000 jobs lost in just the past year alone, the high profile Nickel industry closure being the latest casualties of the bust.</div>
<div> </div>
<div>The latest ABS figures record some 13,100 unemployed persons in Townsville, the highest since a brief spike in February 2003 for the most troubling regional unemployment rate in Australia at 12.4 per cent. </div>
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<div>These types of trends tend to be reflected in rising vacancy rates as population growth dries up. </div>
<div> </div>
<div>It never pays to over-dramatize, but Warwick Powell (to my knowledge not a man prone to making wildly exaggerated statements) said recently that "the region is on the precipice of a great depression", while economist Colin Dwyer lamented that Townsville is "the insolvency capital of Australia". </div>
<div> </div>
<div>The ABS data shows that employment in Townsville has fallen by an extraordinary 20,342 or 18 per cent in only the past year. Let's hope to goodness that is a rogue figure, but it doesn't much look like it from the trend. </div>
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PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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Townsville unemployment at 13 year high: Pete Wargent

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John McGrath, chief executive of McGrath Limited told The Weekend Australian that the recent stockmarket savaging caught the veteran real estate agent off guard.
“We were surprised and disappointed,” McGrath told The Weekend Australian in his first interview since an earnings forecast downgrade on Monday.
McGrath again increased their holdings, last week spending $500,000 to top up his stake to near 30 per cent.
McGrath says while listings are down across the industry and in most of the areas it operates in, the agency has increased its share from 3.2 percent to 3.5 percent of the market.
Meanwhile he has his team who bought into the float.
“This is my family, it’s not just an investment or a company I work for,” McGrath says.
“It’s something I started in my loungeroom.
“I can see the medium term long term, I know where we are gong to end up, but in the short term there is no doubt there is a feeling a pain for me as CEO, largest shareholder and founder of the business that we are having to go through this.”
But, he adds: “This is a long-term game.”
“Even post the market downgrade we will be delivering $26m-$27m in earnings.
"We have cash in the bank and we have no debt.
"We think we are in as good a position as ever,” he says, arguing he and the board — which includes chairman David Mackay, a former Kellogg CEO, and tech entrepreneur Daniel Petre — maintain their belief that a public listing was the right path for the company.
But Wendy McCarthy, a founding chair of McGrath Operations who left in June as she was never a float proponent, told Fairfax Media she imagined "he must be finding it very challenging and very disappointing."
"You've got people telling you everything is going to be fabulous and the float is oversubscribed and you believe it," said McCarthy, who praised McGrath's imagination and generosity.
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John McGrath says the listed real estate agency is his family

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The suburban fringe of Brisbane sits around 15 to 20 kilometres from the CBD – that’s a reasonable Sunday run for some ultra-marathon participants.
This means while our most affordable property is still on the edge of established suburbs, it’s a commutable distance, according to valuation firm Herron Todd White's April 2016 residential property clock. 
Brisbane also sits as a rising market for houses while starting to decline for units in HTW's property clock.
Our grand disadvantage as a city is we cover a wide area, and hence the primary public transport system servicing the majority of fringe residents is the bus network. That said, there are still plenty of these outer dwellers able to take advantage of car-accessible train stations, and if you must drive, our systems of tunnels and bypasses are certainly helping relieve congestion, say HTW.
<a href="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%201.34.54%20PM.png" target="_blank">Click to enlarge</a>
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When thinking of our most ‘active’ fringe suburbs, you can look at most compass points. In the west, it’s the multi-stage, mega community of Springfield Lakes. Go north and you’re starting to hit the urban edge around North Lakes, Mango Hill and Griffin although development is dotted beyond this as well. To the south we are building up to the point that it’s hard to tell where Brisbane finishes and the Gold Coast begins, but it’d be safe to say through Logan, Springwood and down to Beenleigh we’re looking at the very outer edges.
Pricewise, the western corridor demonstrates what buyers are looking at when it comes to a baseline buy-in figure. You can still find yourself a house in the very well serviced Springfield Lakes development at around $400,000, and you could even save $50,000 by heading a few kilometres up the road to Redbank Plains. There’s a ready tenant base and you can expect a gross yield of around 4.5% to 5%. According to our valuers, buyers and tenants are still looking to outer areas that are well serviced by facilities. Springfield Lakes has trains and shopping centres, both of which hold appeal for people who have to work in Brisbane’s CBD.
There are similar price points on offer in the North Lakes region. Investors require a touch over $350,000 to get a foot in the door. Once again, there are plenty of tenants available and gross returns of 4.5 percent to 5.5 percent help with the holding costs. North Lakes also appeals with it’s comprehensive retail facilities as well as ready access to the M1 (Bruce Highway) and Gateway Motorway. There’s also a public transport boost on the way as the new rail extension becomes established for those commuters.
While inner Brisbane does have relative affordability compared to a city like Sydney, those budget buyers with a long-term view can still expect a cheap purchase in the fringe to perform admirably. Springfield Lakes is potentially a good buy long term given it’s serviced by trains and shops, and other facilities coming on line including a hospital.
 
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North Lakes and surrounds will probably take a little more time to pick up in their capital growth. There are plenty of infill subdivision sites close by, so supply is assured for some time yet.
As far as areas to avoid, there is still the flood overhang in some parts of the fringe. Make sure you check this carefully. Other attributes that create ‘secondary property’ such as main road frontages, high tension power lines or nearby industrial uses should also be treated with caution. Properties affected by these things can stagnate when the overall market slows down.
Over the medium and long term however, fringe markets are generally steady, so we expect the market to be relatively static for the foreseeable future. 
Property Observer found a few recent sold examples of properties that reflect the fringe markets:
 
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1. A four-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-springfield+lakes-121755050" target="_blank">9 Talisker Street Springfield Lakes Qld 4300</a> (above) fetched $402,000
<img src="/images/2016/04/26/main.jpg" alt="" width="695" height="521">
2. A three-bedroom townhouse at <a href="https://www.realestate.com.au/property-townhouse-qld-mango+hill-121596838" target="_blank">45/42-51 Wattlebird Street Mango Hill Qld 4509</a> sold for $340,000
 
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Brisbane's fringe markets expected to remain steady: HTW

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There are 9.6 million dwellings across Australia, whose owners don't really want their own eventual sale price to be cheaper as a result of any government policy to make housing more affordable.
There will be acute interest in the negative gearing policy election debate from the 1.25 million investors, who represent an indisputable spread across low, middle and high income earners.
They thought property investment a relatively safer option than shares.
Already the recent debate surrounding negative gearing has made the market place nervous.
Normally federal elections trigger slightly reduced listings and sales activity as there's typically only lip service to any housing policy.
But this year's election is shaping up with housing as a stark policy debate.
It has already, and will continue over forthcoming weeks, trigger diverse reactions.
Some vendors hoping to sell their established homes as investment property have brought forward their listings to get it out before any adverse policy.
Others have bought an investment hoping there will not be any retrospectivity of any adverse policy.
Ray White Group chairman Brian White said any shift in policy would be a “terrible hit” to the market.
"It has already taken away some of the enthusiasm for property," he said yesterday.
"The debate has created uncertainity which is never good for a market."
“It'll be mayhem,” Century 21 chairman Charles Tarbey forecasts.
Noting most people invest in property for the capital growth benefit not for the gearing benefits, the Aussie Home Loans founder John Symond recently suggested only allowing negative gearing on new homes would trigger a drop by at least 20 percent in value once a new home became an established home that investors would likely pass on.
John Symond says the average Australian understands housing and they try to build up a nest egg for future years.
"But they'll run a mile," he said if their was any tinkering.
"Everyone will be too scared."
"Imagine what that will do to the real estate market."
This article was first published in the Sunday Telegraph.
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Negative gearing and house price values to be key election issue

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Buyers purchasing in suburbs further afield from city centres are attracted to these outlying suburbs by either the availability of affordable vacant land on which to build their own dwelling, larger lifestyle blocks, infrastructure that provides employment opportunities or geographical features that provide water or mountain views, according to valuation firm Herron Todd White's property clock for April 2016.
Hobart, the capital city, was at the start of recovery phase in HTW's property clock for both houses and units.
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Suburbs on the southern outskirts of Hobart that offer such features include Kingston and Blackman’s Bay which are both in the fast growing Kingborough municipality. While residents of Kingston and Blackman’s Bay have longer commutes to the city, Kingston is a fast growing, well serviced suburb located on the southern outlet between Hobart and the Huon Valley. Kingston contains the main commercial shopping centre within this municipal area while Blackman’s Bay offers water frontage.
Just under $1 million in Kingston will buy you a character, four-bedroom, two-bathroom home with in-ground heated pool on 4,000 square metres of land. For those with smaller pockets a three-bedroom, two-bathroom home on just under 1,000 square metres can be purchased from around $380,000.
Brighton, a north-western suburb of Hobart, is approximately 27 kilometres from the centre and is an affordable suburb with vacant land sale prices starting from $87,500. A four-bedroom, two-bathroom, established modern home on acreage can be purchased in Brighton from around $495,000.
Reported gross yields for investors in Tassie’s south for residential property range from 3.9% to 5.5% with vacancy rates of 2.8%.
In Tasmania’s north, Perth, a Launceston satellite village approximately 18 kilometres from the city has been popular with first home buyers due to the affordability of vacant land, especially those who took advantage of the first home builder’s boost grant which at its peak made $30,000 available to eligible buyers. Recent vacant land sales in Perth range from $70,000 to $105,000.
For fringe dwellers who desire larger parcels of land, the suburbs of Riverside, Legana and St Leonards deliver on this need.
St. Leonards is an established suburb to the south- east of Launceston’s centre and offers a variety of property types with a more recent residential development offering larger lifestyle blocks. An older style, 210 square metre residential property with a land parcel of just over two hectares recently sold in St Leonards for $420,000.
Recent sales of vacant land over one hectare were purchased from between $160,000 and $200,000.
Pockets of Riverside and Legana have water views as they are located alongside the Tamar River to Launceston’s north-west. Both of these suburbs contain good facilities including shopping centres, schools and child care facilities.
An older style, four-bedroom, three-bathroom home on just under two hectares with river views in Riverside recently sold for $625,000. A similarly aged, slightly smaller home in Legana on just under half a hectare with an impressive heated indoor pool recently sold for $565,000. A recent vacant land sale in Legana for a parcel of 2,000 square metres achieved $159,500.
Other northern fringe suburbs or satellite towns such as Rocherlea, Ravenswood and George Town have limited investor appeal. Homes in these suburbs can be purchased for less than $100,000. While some investors may achieve good gross returns in these suburbs they should consider that returns are offset by limited capital growth potential in these less sought after suburbs.
 
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Hobart's fringes Kingston and Blackman's Bay offer affordability, good lifestyle: HTW

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In our Purchase or Pass segment this week with Charles Tarbey and Tom Panos we see if it was still possible to get a great investment, close to the city, for a reasonable budget at the end of last year.
Location: 8.5kms from CBD
Beds: 1
Bath: 1
Parking: 1
SQM: 68m
Price: $625k
Rent: $550-600/wk
Chris: It’s a 1 bed, 1 bath unit with parking 8.5km’s from the CBD and <a href="https://www.realestate.com.au/property-apartment-nsw-coogee-121217178" target="_blank">less than a km to the local action</a>. It’s a 68 sqm first floor unit, with courtyard off the lounge for outside dining and entertaining. It’s located at the back of the building in a well maintained security block. The property sold for $625k, has a rental estimate of $550-600/wk and has strata fees of $633/qtr. I thought we’d look at some of the information on the advert and decipher how we’d read into that. So when you hear something that’s maybe 8.5km from the CBD and less than a km from the heart of the suburb, what does that mean to you Charles?
Charles: Well, as we’ve always said the western suburbs start at Centennial Park for most people. It’s nice and located close to the city and if you’ve brought it up or you’ve raised it as a property for purchase or pass it’s likely to be in the eastern suburbs somewhere and you’ve likely bought it off one of your mates who work near the eastern suburbs. That’s what I got out of there. What have you got out of that Tom?
Chris: What about for you Tom, 68sqm?
Tom: It says to me that it’s not tiny, it’s the sort of unit that’s liveable. So they’re happy to talk about the size there. And on that previous point, 8.5ks to the city. Anything within 10ks of the city you think it’ll suit a city dweller. So it feels like you might not be right in the heart of it, but you’re close to it. That’s the initial impression.
Chris: Charles, for some of the listeners in the Blue Mountains who like fresh air, how does the courtyard suit?
Charles: Well, I had a look at the photo it looked pretty nice. It looked like I was looking at a wall but was that right, are you looking at a bit of wall?
Chris: Potentially, yeah
Charles: So we’d call that privacy, right, so you get no neighbours looking at you. So that’s what I’d get from that. Tell me, 68sqm does that include a patio?
Chris: That’s including the patio, yeah
Charles: and not the car space
Chris: Yeah, I think car space is maybe 15 on top or something. So again it’s not massive.
Charles: No, it’s a great price for that size
Chris: Backward block Tom?
Tom: Backward block to me, straightaway the initial feeling is that it’s quiet, that you’re not going to be hearing lots and lots of noise. That’s the suggestion on why the agent would write that in the marketing literature.
Chris: Maybe the block’s the other way around and the backs the freeway, you never know so you’ve also got to go and check it out at the same time. But in this case that’s right. North facing Charles?
Charles: Well, that’s an important part of it, you know, the sun, making sure it’s not facing the west where you’ve just got to have your air conditioning on at a certain time. Facing north always is an appealing thing and every agent will use it when they can.
Chris: 22 end block Tom?
Tom: 22, it’s basically saying it’s not one of these big Meriton complexes, where you won’t know everyone. 22, you’ll get to know who the people are there. It’s also not as good as say 6, 8, 10 or 12, but 22 says that it’s not a monster of a building. 
Chris: Yeah, reasonable size. 633 a quarter for the strata fees Charles?
Charles: Yeah, I thought that was really excellent. Actually, and I would have promoted that as probably one of the first points because some of those buildings down there can cost you a great deal more and a lot of people are very concerned about strata fees and they should be.
Chris: Yeah, and I’ll do the final one, 5-600 a week for the rent, 4 and a half to 5 per cent rent this market it’s pretty superb so purchase or pass for you guys?
Charles: Definitely purchase based on the price
Chris: And what about you Tom?
Tom: Purchase, whether it’s 625 or 650 I’m not quite sure what it was, but it’s a good buy.
(Chris) I think this is an almost text book purchase for someone that has a limited budget and still wants to stay in a blue chip suburb. Everything ticks the boxes for me so I would PURCHASE
To watch the discussion in full, <a href="https://www.youtube.com/watch?v=eKMvn0Pu9nc" target="_blank">click here</a>.
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Purchase or Pass: Property investments on a reasonable budget with Chris Gray

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In our Purchase or Pass segment this week with Charles Tarbey and Tom Panos we take a look at a potential investment that has had a very large special levy raised against it but it’s actually been paid by the vendor. 
Location: 4.6 kms from CBD and less than a km from a university, hospital Beds: 2 Bath: 2 Parking: 1 SQM: 94m Price: $765k Rent: $700/wk
Chris: So we’ve got a <a href="https://www.domain.com.au/304-50-56-mallett-street-camperdown-nsw-2050-2012362589" target="_blank">two bed two bath unit</a> with security parking in a block of 14.
The building is located just 4.6km from the CBD and less than a km to a university, hospital and the local shops, restaurants and bars. Now the property is quite large at 94sqm and features a second bathroom and balcony with a bright northerly outlook. A special levy of $50,000 per unit was raised and paid by the current owner but the work has not yet been completed and is due to be done this current year to sort out some water proofing issues and to repaint the facade. So we’ll start with the basics, Charles, what is a special levy?
Charles: Yes, well what was waterproofing for, what happened?
Chris: Yeah, something funny happened. What is a special levy?
Charles: Obviously, you’ve got to raise if there are certain issues such as that and they need extra funds. If the current funds that they have in place are not covering what they need they’ll raise it. We did a renovation in a foyer in Sydney in one of our office complexes which I’ve got a couple of floors and there was a special levy raised for that as well, so we had to make sure… it wasn’t for any other reason than beautification for example, and everybody agreed on it, we thought it would be good for the building. But you’ve really got to protect yourself too because if the owner’s already paid that, how do you know that the owner’s not going to take that back before the money’s spent which they’re entitled to do. You’d know that.
Chris: Tom with the special levies, how expensive can they be, I mean you’d obviously see it at auctions?
Tom: Well, if you’ve got a strata plan that people have been contributing very little money and because they’ve been contributing very little money there’s been no work been done and then there comes a point where serious work needs to be done, you could actually have a big special levy. But, on the other hand, if you’ve been contributing to a strata scheme at the average rate you’ll only get a special levy if there’s an emergency and that’ll be, as Charles says, for funds beyond the normal. So I think it’s an important learning that when you buy a property that you get a strata report done and you can actually see how much money’s in the sinking fund and you can actually see what work’s been done, because if no work’s been done on a property for 20 years, sooner or later work is going to have to get done and if there’s no money, you should be thinking that, hang on a second I might be up for a special levy which no one knows about at the moment.
Chris: It’s a really good point, because so many people, especially first home buyers, will go and choose somewhere because it’s maybe $500 a quarter, normal levies, rather than maybe a thousand, and say this building’s cheaper, but it’s the false economy because maybe they’re not looking after it but a thousand dollars would have been cheaper.
Tom: Absolutely, to me, a special levy is for saving. It’s allowing you to be protected for a time that the money’s going to be needed verses having to hear a bad surprise.
Chris: And these special levies, they can almost happen overnight, can’t they?
Charles: They can and if you’ve got major issues, like some of the apartment complexes around the country have got concrete cancer and it becomes noticeable. You’re talking about waterproofing in an apartment above a certain apartment and it starts to cause a problem, well they’ve got to do something urgent about it, and they’ve got to vote and generally people don’t want their property to fall apart so your stuck in that, in that process.
Chris: So the two scary things I’ve heard about special levies is… we bought apartments where you suddenly buy and exchange and there’s no talk about it at all and miraculously the body corporate gets together and between exchange and settlement they suddenly put a special levy in and then suddenly there’s nothing the new owners can do about it. To me that’s fraud.
Also, I think in these cases where there’s funds in, so if they put the 50 grand in, we’ve been told by solicitors that there’s nothing to stop that owner taking it back out. So it’s then the buyer’s will to get the clause to say, well, I’m buying it in this condition with this amount of money in strata, if you take the money out then that’s coming off the purchase price.
Charles: That’s what you’ve done, so it looks like a pretty good apartment in any case. For that price it’s quite low for where you’re saying it is located. Something like that’s a very good price.
Tom: Yeah, I would say a purchase as well because one of the pluses is you scare a lot of buyers when they hear this sort of stuff, and that’s a big plus because you’ve got less competition.
Chris: Yes, so for some people it’s a scare, for other people it’s a positive. So look I’m generally a fan of special levies as it either means they’re nipping a problem in the bud before it gets more expensive and they often improve the building and add value. It’s a great sized apartment for the money and so I would purchase.
To watch the discussion in full, <a href="https://www.youtube.com/watch?v=Ucrt2tu9pEg" target="_blank">click here</a>. 
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Special levies: Purchase or Pass with Chris Gray

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Which is the better property investment – Sydney or Gosford?
Gosford is the clear winner, according to <a href="https://www.ibuynew.com.au/" target="_blank">iBuynew's</a> Mark Mendel.
<a href="/images/2016/04/21/Screen%20Shot%202016-04-22%20at%208.27.27%20AM.png" target="_blank">Click to enlarge</a>
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Which is the better property investment, Sydney or Gosford? Mark Mendel

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Attendees to the Wakelin webinar mid-week on Wednesday were told when is a pre-purchase building inspection a must, what they entail, how to interpret the results and what defects can be fixed and which ones should prompt you to walk away from a potential buy.
To watch the webinar in full <a href="https://www.youtube.com/watch?v=sPGVlbSHKvo" target="_blank">click here</a>.
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Property 101: When is a pre-purchase building inspection a must

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Talk of a housing bubble is "simply hot air," says the Property Council’s chief of policy and housing, Glenn Byres.
Official data from the Australian Bureau of Statistics released last week signals a warning, he suggests, with the 5.1 per cent fall in building commencements and 2.3 per cent drop in completions for the December quarter suggesting the construction boom has passed its peak.
"While the number of commencements and completions over the past 12 months remain at record highs – reaching 220,887 throughout 2015 – there is now a real risk that housing starts could head south," Byres says.
“We only risk a housing bubble if we are creating demand that won’t be met.
"There will be pockets and cycles in individual markets, but overall the reality is the opposite – we have a shortage of supply.
“The fundamentals that support housing markets are very sound. The economy is growing, jobs are growing and our population is growing.
“At the same time, we have challenges on the supply side. When you piece these things together, there’s nothing to suggest the market is operating at anything other than normal speed.”
While the increase in housing supply has been much lauded over the last two years, Byres is more circumspect.
“This is the first time we’ve seen a balance between supply and demand in more than 10 years. We are only just now hitting the levels of supply we need. In capital cities, particularly Sydney, we are still playing catch up on the big deficit that accumulated over the last decade.”
He advised Australia was currently adding an extra million people to its population every three to four years, and numbers in our four largest cities – Sydney, Melbourne, Brisbane and Perth – are expected to double within the next 15 years.
"Sydney will need an estimated 664,000 houses over the next 15 years just to keep up with this growth.
“We know most of our nation’s growth is going to happen in the ‘big four’ capital cities – and that’s where our challenge is most acute. We have fallen a long way behind in supporting this growth with the infrastructure and housing we need. Until we get ahead of the curve, we risk landing on the wrong side of the affordability equation.”
While New South Wales saw the largest increase in commencements in 2015, up 19.1 per cent for the year, Byres says the 14.0 per cent fall in the December quarter is a marker for concern.
“It is a reminder that NSW needs to get cracking and fix up its planning system, which is still the most dysfunctional in the nation.”
“We need policy solutions in place that reduce the time, cost and red tape on projects and make it easier to deliver a sustained period of strong supply and improve affordability over the long-term.”
Byres says the choices are simple: smart growth or dumb growth.
“Growth is coming – but dumb growth involves turning off housing supply, tying up markets in red tape and pushing up prices beyond the point at which the average person can enter the market.”
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