Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Joel Robinson

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

Residential Sales

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The most affordable property reported sold at the weekend auctions was a one-bedroom unit at 10/2-4 Elizabeth Street in Braybrook.
It was sold for $240,000 by Pagan Real Estate.
More than $230,000 was the <a href="https://www.domain.com.au/10-2-4-elizabeth-street-braybrook-vic-3019-2012790581" target="_blank">price guidance</a>.
It had been available for rent at $220 a week in 2013.
There have been sales of up to $260,000 in the block.
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Braybrook $240,000 one bedder the weekend's cheapest

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The former Austrian tennis champion Thomas Muster has listed one of his Noosa Heads riverfront properties at $5.9 million.
It was the first he bought on the water paying $2.8 million in 2013, <a href="https://www.realestate.com.au/property-house-qld-noosa+heads-122755794" target="_blank">with the house then designed by architect Tim Ditchfield</a>, according to the marketing by Tom Offerman who declined to comment. 
Muster has most mystified since he's consolidated three nearby properties for a combined $9.9 million, though no application has yet been lodged with council.
Muster first bought into Noosa in 1994 when he paid $1 million for Cintamani, a 35-hectare hinterland property.
He sold it in 2002 for $7.6 million and bought back in 2006, spending $3.5 million on Noosa Hill, which he later sold to motor racing driver Mark Webber.
Muster spends time in Queensland because his former wife, Jo Beth Taylor, the former Australia's Funniest Home Videos host, has resided there on the Sunshine Coast with their son.
This article was first published in the Weekend Australian Mansion Australia property section. 
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Thomas Muster lists Noosa home

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Fireplaces are set to become an important selling feature as winter arrives, although selling agents haven't yet lit them all ablaze.
There were three downstairs fireplaces - but none lit in the marketing - at the East Melbourne top seller where the 1904 Chedhertha (above) fetched $5.1 million.
Listed by Caine Real Estate, 36-38 Hotham Street had $4.6 million-plus price guidance having last sold 93 years ago. The family who paid 2000 pounds in the 1920s for the quaint house named it after their children – Cedric, Herman and Bertha.
More elaborate fireplaces were on display, and in one room quitemodern, but again none of them were lit in the marketing of 231 Canterbury Road, St Kilda West (below) which was among the weekend's highest sales in Melbourne.
The Marshall White agent Michael Paproth sold it shortly after it was passed in at $4.85 million, with the buyers' agency in attendance, noting three bidders.
<img src="/images/2016/06/06/Screen%20Shot%202016-06-06%20at%209.11.30%20AM.png" alt="" width="578" height="370">
There was a blazing fire place at an architectural gem on offer at Mosman, although the $2.29 million buyer will knock down the Modernist, Arthur Cozens-designed two-bedroom house at 20 Bullecourt Avenue (below).
<img src="/images/2016/06/06/Screen%20Shot%202016-06-06%20at%209.13.02%20AM.png" alt="">
The 1950s Mosman home commissioned by the late Stella Tottenham, an editor of the national architecture magazine Architecture, fetched $290,000 more than its reserve at weekend auction. 
Cozens designed a two-level, flat-roofed house sited high above Middle Harbour, built in warm-toned face brick with white timber fascias, sun-break louvres and window frames, an open-plan living space with fire place lined with natural timber, along with a window wall oriented to the view.
It was such cleverness of Australian small house design that was proclaimed in issue after issue of Architecture.
At Bellevue Hill the modern architectually-designed home that appeared on ABC's Dream Build series in 2013 has been listed for private treaty sale.
The 2010 new-build took on the best parts of the 1960s home designed by architect Henry Rossler that sat on the 923 sqm land parcel.
The four bedroom home was designed by Marsh Cashman Koolloos Architects (below).
<img src="/images/2016/06/06/Screen%20Shot%202016-06-06%20at%209.15.18%20AM.png" alt="">
It comes with a Cheminees Chazelles double-side, wood-burning fireplace.
Alison Coopes at Agency by Alison Coopes is taking offers on the Bulkara Road property with $10 million plus likely interest. 
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jchancellor-FAypfDUnLy

Fireplaces not quite ablaze at weekend auction offerings

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GUEST OBSERVER
There is a simplistic thought pattern that rising property markets are good and falling markets are bad.
Supporting the point, transaction volumes historically increase in rising markets and decrease in falling markets. These fluctuations in volumes are sentiment based as much as they are practical decisions by the respective buyers and sellers. Rising markets feel good whilst falling markets don’t. Whilst there may be more winners in a rising market and vice versa, it is not a universal principal. 
When you understand how a rising market can actually work against your best interests and a falling market can be used to your advantage, the property market takes on a whole new persona.
Depending on what your goal and objective for trading real estate is, you will be better positioned to act decisively or remain patient when you are conscious of the winners and losers in all market conditions.
First homebuyers – rising and/or fully priced markets benefit those at the top and disadvantage those look to enter the market. First home buyers find the level of entry difficult in booming markets and are best served looking to enter the market when real estate is flat. Many people think that first home buyers are permanently locked out of the market which is an overstatement. There is no doubt that current conditions are difficult in Sydney for them, but an opportune time will come again. Indeed it was first home buyers that created the post GFC boom as they took advantage of declining prices (and Government grants). First home buyers who were brave enough to venture into the market in 2008 are now on the property ladder and climbing. 
Upgraders – if you own a property and intend to sell it to purchase another one in the same market, you are more likely to sell in a rising market. But you are quite possibly better off upgrading in a falling market. If you sell a $1 million home and intend on upgrading to a $2 million home, a 10% rise in the market will provide an extra $100,000 on the sale but take $200,000 more on the purchase.  Conversely, a 10% market decline on the same transaction wipes $100,000 off the sale but a whopping $200,000 off the purchase. 
When you consider that a lot of fees and services such as stamp duty (&amp; agent’s fees) are based on percentages, the lower the price the better when upgrading.
Transitioning into a different market – if you are selling out of a booming Sydney market to buy into a sleepy sea side village with flat to declining property prices, you win on both sides of the ledger. You sell high and buy low. The Perth market for example is severely depressed at the moment. If you were to sell in Perth and move into Sydney or Melbourne, you will sell low and buy high. As important as it is to sell at the right time, if you are transitioning into a different market, picking the right time to buy is equally important.
Negative geared investors – creating a deliberate weekly loss to gain some tax advantages may seem like a sound and plausible strategy whilst prices are rising. When prices are flat or declining, the investor loses twice – a weekly loss plus declining asset value. Investors who are negatively geared need a market that rises faster than the accumulated losses through the negative gearing, to stay in front on the investment. Sharing a profit with the tax man is preferable to keeping a loss to yourself. Many property investors have lost sight of this one. If you get yourself into a position where you are positively geared, capital growth is yours to keep rather than compensation for carrying a weekly loss over a number of years.
Investors – it is possible for investors to benefit in both flat markets and booming markets. The key is to transact accordingly. There are two types of investors, incoming and outgoing. Savvy investors know there is a right time to enter a property market and equally an appropriate time to exit. 
A crude yet timeless real estate cliché such as ‘when rates are high it’s time to buy and when rates are low it’s time to go’ are worth keeping in mind. This should not be your sole guiding light but it is worth keeping in mind. Sure, every expert says ‘sell high, buy low’ but how many actually act on this advice? Prices are currently high in Sydney and low in Perth. How many investors are brave enough to buy in Perth at present? Yet in 2011/12 when interest rates were much higher and the mining boom was ticking along, Perth was fully priced and Sydney was in a severe lull. Sure, hindsight is 20/20, but so is research coupled with long term planning. 
Last time sellers – if first home buyers are the losers of a boom, then last time sellers are the recipients and vice versa in both instances. From a demographic perspective, there are a lot of last time sellers coming through the system in the next 15 years as baby boomers sell down their assets to fund their retirement. The family home will be increasingly sold down by baby boomers whom are looking to unlock equity and move into smaller more manageable properties in lifestyle locations. 
Baby boomers in Perth feel hard done by given the market has crashed there whilst last time sellers in Sydney feel as though they have won lotto. Particularly if they selling up to leave town. Just as first home buyers could be well advised to hold off on purchasing at present, last time sellers should give considered thought to exiting the market whilst times are good. We may not be in the midst of a full boom as we were in 2015, but is anyone going to really suggesting that house prices are currently anything but high?
Knowing what you now know, you may decide to act ahead of time or delay transacting until the market environment suits your agenda. There are winners and losers in all markets. If you plan intelligently and sensibly, you increase the chances of being on the right side of the ledger.
Peter O’Malley is author of Real Estate Uncovered and can be contacted <a href="https://realestateuncovered.com.au" target="_blank">here</a>.
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The winners and losers in rising and falling markets: Peter O’Malley

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Gold Coast estate agency Raine &amp; Horne Mermaid has merged with former rival LJ Hooker Mermaid and appointed Anthony Steinberg as new principal.
Raine &amp; Horne Mermaid will operate from 2485 Gold Coast Highway, Mermaid Beach, with former principal Kae Beadman staying on as a sales agent.
Steinberg said local apartments are attracting a 5 percent yield and out of area investor enquiry has spiked by 15 percent over the last couple of months. 
“The Gold Coast is one of the hottest property markets in the country at the moment, with days on market running at less than 14 days," he said.
“The Commonwealth Games is creating plenty of good consumer and business sentiment at a time when real estate values and lower yields in Sydney and Melbourne have local and overseas investors focusing on the Gold Coast."
Mr Steinberg, who was with his previous real estate group for 12 years, said large contingents of Chinese and Korean buyers are making their presence felt.
"They are being enticed by the Gold Coast’s lifestyle and education opportunities, afforded by the expanded Bond and Griffith university campuses, new hospitals and better transport infrastructure," he said,
Angus Raine, executive chairman, Raine &amp; Horne said the merged entity will have much greater market presence than the two smaller offices enjoyed and this will offer a broader choice of real estate solutions and expertise to owner-occupiers and investors.
"After 27 years in the area, it’s pleasing that Kae Beadman has decided to stay on in a sales role and I’m sure her knowledge and familiarity with Raine &amp; Horne will be a significant help to Anthony, who is a Mermaid Beach local. It’s a combination that I’m sure will make a significant mark on the local real estate market.”
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Raine & Horne announces Gold Coast office merger

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As the sun sets on the extended summer selling season in pricey Palm Beach, plenty of would be sellers now face the chill winds of winter.
The Melbourne based model Megan Gale headlines the vendors who just haven't been able to secure a summer sale.
<a href="https://palmbeach.ljhooker.com.au/4HQF6Z/12-ralston-road-palm-beach">Her hilltop northern beaches getaway</a> has gone buyerless for some 220 plus days, that's double the 110 typical days on market average.
And when she does sell her five bedroom occasional retreat there won't been much profit as it cost her $3.2 million in 2006.
Her consistent asking price has been $3.5 million, with local LJH agent Peter Robinson called in to help her initial agent Stephanie Hammond find the buyer.
Investment banker Paul Espie is another who is struggling to sell his 1920s Palm Beach weekender, Craboon.
He listed the home in October, slightly earlier than Gale but with pricier $6.5 million hopes.
The now remodelled classic stone cottage was bought by Espie and wife Ros for $2.45 million in 2004
Paul and Megan certainly have some competition, with CoreLogic RP Data showing around 44 houses currently for sale in Palm Beach.
The newly appointed Telstra group executive Kevin Russell has emerged as a buyer at Bilgola, so is the latest to list his hilltop Palm Beach property.
Russell's four bedroom Palm beach home was bought for $2.02 million in 2012 when he was with Optus.
Set on a larger 923 sqm, the beach house style home has numerous balconies with views over Pittwater.
It's been listed with $3 million hopes through James Baker of Raine &amp; Horne Palm Beach.
He's bought at Bilgola from BT investment funds manager Andy Fay paying $3.625 million for a 625 sqm spot on the Serpentine.
Previously novelist Thomas Keneally's home, the tri-level beachfront sanctuary surrounded by lush tropical gardens has five bedrooms and four bedrooms.
This article was first published in the Saturday Daily Telegraph. 
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firstname1-iYD4UYzvBa

Winter starts at Palmie with 40 plus unsold weekender offerings

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GUEST OBSERVER
Due to an unprecedented number of recent changes in the conveyancing practice in NSW, the 2005 and 2014 editions of the Contract for Sale and Purchase of Land with copyright to the Law Society of NSW and the Real Estate Institute of NSW (Contract) should no longer be used for contracts exchanged on or after 1 July 2016.
Rather the new 2016 edition of the Contract launched on Monday 30 May 2016 should be used, and will be available only in electronic format.
The significant changes that precipitate the new 2016 Edition of the Contract include:
<ul>
<li>Pursuant to the new sub-division 14D, of Schedule 1 to the Taxation Administration Act 1953 (Cth), where the market value of the property is $2 million or more, the purchaser is obliged to comply with a foreign resident capital gains withholding payment obligation (regardless of whether the vendor is in fact a foreign resident), in which the purchaser must withhold 10 percent of the price at settlement and remit this to the Australian Taxation Office (ATO), unless the vendor supplies to the purchaser a clearance certificate. A lesser amount may be withheld if the vendor supplies to the purchaser a variation from the ATO authorising less to be withheld.  </li>
<li>Pursuant to the Swimming Pools Act 1992 (NSW) and new regulations made in March 2016, vendors of property being single freehold or strata schemes with no more than two lots, that contain a swimming pool or spa, are required to attach to the Contract:</li>
</ul>
<ol start="1">
<li>A valid certificate of compliance issued under section 22D of the Swimming Pools Act 1992 (NSW); or</li>
<li>A relevant occupation certificate (less than 3 years old) and evidence that the swimming pool is registered under Part 3A of the Swimming Pools Act 1992(NSW); or</li>
<li>A valid certificate of non-compliance issued under clause 18BA of the Swimming Pools Regulation 2008.</li>
</ol>
<ul>
<li>Pursuant to the Conveyancing Amendment (Sunset Clauses) Act 2015 (NSW), which came into effect on 2 November 2015, vendors are required to either obtain the consent of all the purchasers before they can rescind an “off-the-plan” contract in reliance of the sunset clause for not registering the new titles by an agreed date in the Contract, or alternatively, obtain the permission of the Supreme Court to rescind.</li>
</ul>
In addition to these changes, there are miscellaneous other changes that can be found on the Law Society of NSW website.
There potentially may be more editions to the Contract, to cover more changes in the pipeline such as the changes to the operation of land tax certificates requiring vendors to obtain a land tax certificate and serve it on the purchaser before completion, and changes to strata schemes.
Clients should be aware that the 2005 and 2014 editions of the contract are expected to be no longer sold after 30 June 2016, and these editions should not be used for contracts exchanged on or after 1 July 2016. It is recommended that you use the 2016 edition of the Contract to cover the multitude of issues, or if you want to use older editions, then you will need to consider inserting additional conditions to address the significant changes. 
Gary Newton is partner TressCox Lawyers and Henry Yuan is paralegal. Both can be contacted <a href="https://www.tresscox.com.au/page/our-expertise/property/" target="_blank">here</a>.
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Property 101: New edition of the NSW Contract for Sale and Purchase of Land

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The median time on market for a home in Sydney and Melbourne is 31 days, with units 30 in Sydney and 34 in Melbourne.
The average vendor discount for a Sydney home is 5.2 percent and Melbourne 4.6 percent. For units the figure is 4.6 percent for both Sydney and Melbourne.
<a href="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.24.05%20PM.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.24.05%20PM.png" alt="">
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In quick lock step: median time on market for a home in Sydney and Melbourne is 31 days: CoreLogic RP Data

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The top selling property for the week ending May 29 was a three bedroom waterfront unit on Sydney's Elizabeth Bay according to CoreLogic RP Data.
The property, 3/28 Billiard Avenue, Elizabeth Bay, sold for $7 million through McGrath Estate Agents.
Top ten sales
3/28 Billyard Avenue, Elizabeth Bay, NSW 3 bed, 2 bath, 2 car unit $7,000,000 McGrath Estate Agents 
14 Monomeath Avenue, Canterbury, Vic 5 bed, 3 bath, 2 car house $5,110,000 Jellis Craig Hawthorn 
38a Crosslands Road, Galston, NSW 6 bed, 6 bath, 6 car house $4,900,000 McGrath Estate Agents 
16 Swinton Avenue, Kew, Vic 4 bed, 2 bath, 2 car house $4,501,000 Jellis Craig Hawthorn 
18 Prince Edwards Parade, Hunters Hill, NSW 5 bed, 3 bath, 2 car house $4,500,000 Ward Partners 
15 Greendale Street, Greenwich, NSW 5 bed, 3 bath, 2 car house $4,110,000 Blunts Real Estate 
526 Bronte Road, Bronte, NSW 5 bed, 3 bath, 1 car house $3,850,000 Laing + Simmons Double Bay 
11 Butler Street, Brighton, Vic 5 bed, 3 bath, 2 car house $3,751,000 Marshall White Brighton 
17 Bringa Avenue, Camberwell, Vic 4 bed, 3 bath, 2 car house $3,710,000 Jellis Craig Armadale 
8 Nichol Parade, Strathfield, NSW 5 bed, 3 bath, 4 car house $3,690,000 Unique Property Real Estate 
 
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Elizabeth Bay waterfront leads top ten sales: CoreLogic RP Data

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A property where some tragic or traumatic event, such as murder, rape, suicide, violent crime or other horrific event has occurred is referred to as a "psychologically stigmatised property".
Such a characterization does not involve a defect as to title or the physical features of the land. The stigma in such cases is said to emanate from some non-physical defect that causes religious, moral, emotional or psychological discomfort to a buyer. Is there a duty of disclosure?
Silence as to the history of a property may constitute misleading and deceptive conduct, particularly where the silence is coupled with the failure to correct or qualify statements that lead a purchaser into error. If a horrific event occurred in a dwelling, there is likely to be a "reasonable expectation" that it will be disclosed to purchasers. It is an offence under state and federal law for an estate agent or representative to mislead or deceive a client (seller or landlord) or a consumer (buyer or tenant) by their conduct or representations. While agents around the country have ethical responsibilities under their codes of conduct, the laws surrounding these issues vary from state to state and none of them is uniform. Concealment and silence Misrepresentation can be about what is not said as well as what is said.  Schedule 1 (3) of the Property, Stock and Business Agents Regulation 2003 states that: "You must be fair and reasonable to all parties, and must not mislead or deceive any parties in negotiations or a transaction."  
There is no stand alone duty of disclosure, but silence can be misleading in certain contexts, and this should be avoided. There is a need to consider the background of other facts against which the silence occurs. Agents need to consider whether silence in that context can lead reasonable people to believe that a particular state of affairs exists where it does not. Remaining silent or only telling half the story where there is a reasonable expectation of disclosure means you are breaking the law. Licensees and certificate holders must be open and honest with clients and customers.  
If information is known to the agent they must not conceal or suppress information about a property if there is a reasonable expectation that the information will be of concern to a buyer or seller and is not readily apparent. Refer to Fair Trading NSW website <a href="https://www.fairtrading.nsw.gov.au/ftw/Property_agents_and_managers/Agency_responsibilities/Misrepresentation_guidelines.page" target="_blank">here</a>. 
Garth Brown from from conveyancers Brown and Brown said there has been considerable debate over the years since the issue of stigmatised properties came to the fore in 2004 when a real estate agent in New South Wales was successfully prosecuted by the Commissioner of Fair Trading for marketing a home in North Ryde without revealing to prospective purchasers that a tragic triple murder had occurred in the house, the media had dubbed this case "the Gonzales murders". 
"The law in Australia is not yet settled on this issue but as in the Gonzales case the onus of responsibility may come down to the selling agent who has a moral obligation and a duty of care to inform prospective buyers that the events that occurred in the property may affect its value now and in the future," he said.
"Since the Gonzales case there have been a number of similar cases and the debate has been kept alive how to handle the issue, it has even been suggested in the industry that this type of disclosure could be captured in the contract for sale of land and is part of the conveyancing process with the prospective buyer's conveyancer or lawyer making the enquiries to ensure the land/property doesn't have a stigmatized history.
For more information, contact Brown and Brown Conveyancers <a href="https://www.conveyancers.net.au" target="_blank">here</a>. 
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