<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Joel Robinson

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Investors may soon find themselves with fewer reasons to buy established property and more incentives to look towards the new apartment market.

Proposed changes to negative gearing and capital gains tax concessions would see new and off-the-plan apartments retain access to the tax benefits, while established properties would miss out, creating a clear advantage for buyers purchasing newly built housing.

The policy direction aligns with what many developers have been saying for several years. Australia needs more housing supply, and governments are increasingly looking for ways to encourage investment into new stock rather than existing homes.

The challenge for investors is that suitable product is becoming harder to find.

For much of the last decade, one-bedroom apartments were the cornerstone of investor demand. They offered a lower entry price, strong rental appeal, and were a common feature across most apartment developments.

Today, the development pipeline looks very different.

Across both New South Wales and South East Queensland, developers are increasingly targeting owner-occupiers and downsizers, delivering larger two, three and four-bedroom apartments in response to changing buyer preferences. While one-bedroom apartments still exist, they now form a much smaller portion of many new projects.

That shift has created a shortage of investor-friendly stock, particularly in well-located projects close to transport, employment hubs and lifestyle amenity.

At the same time, rising apartment prices have pushed many new developments beyond the reach of traditional investors. On the Gold Coast and across South East Queensland, it's becoming increasingly difficult to find new apartments priced around the $1 million mark, particularly those offering strong rental fundamentals and long-term growth prospects.

We've rounded up four new apartment developments where investors can still secure a foothold in the market for around $1 million or less.

<h2 data-end="1140" data-start="844">Flourish Soleira</h2>

<h2>Priced from: $1.07 million</h2>

Popular Palm Beach developer Sherpa is soon to officially launch its newest local apartment development, Flourish Soleira.

The one-bedroom apartments in the building were only offered to first home buyers rather than investors, and all of those have been snapped up. The two-bedroom apartments will start from $1.07 million, and the three-bedrooms, still a good investment given the popularity of Palm Beach for owner-occupiers, starting at $2,045,000.

&nbsp;

[smartcode_project:default project_id=150017 project_image_fid=370964]

Flourish Soliera will comprise 153 apartments across two buildings, connected by a skybridge, the first ever delivered in the suburb.

True to Sherpa's booming Flourish brand of apartment projects, Flourish Soleira will have extensive rooftop amenity across both buildings including a&nbsp;wellness centre with gym, work from home, yoga, pilates, a&nbsp;heated pool, private dining rooms, pizza oven and barbecues, basketball court, and golf simulator.

<h2>Corallo, Palm Beach</h2>

Priced from: $841,500

Nearby Flourish Soleira is Changfa Group's beachfront-inspired Corallo development. They still have some one-bedroom apartments remaining, priced from $841,500.

The 105-apartment project on Palm Beach Avenue is otherwise dominated by larger two and three-bedroom residences, many of which are aimed at owner-occupiers and downsizers.

[smartcode_project:default project_id=112194 project_image_fid=808]

For investors, the appeal lies in Palm Beach's continued transformation from a laid-back beachside suburb into one of the Gold Coast's most sought-after residential markets. Residents at Corallo will be within walking distance of Palm Beach's surf beaches, the recreational amenity of Tallebudgera Creek, and the increasingly popular collection of cafes, restaurants and boutique retailers along the suburb's central dining precinct.

<h2>Corner House, Stones Corner</h2>

<h2>Priced from: $880,000</h2>

One of only two Brisbane apartment developments to make the list with prices under $1 million is DeMartini Fletcher's Corner House development in Stones Corner.

One-bedroom apartments start from $880,000 within the 88-apartment development, providing investors with exposure to one of Brisbane's most established inner-south locations.

[smartcode_project:default project_id=149098 project_image_fid=330594]

Stones Corner has long been supported by strong tenant demand due to its proximity to major employment and education destinations. The suburb sits less than five kilometres from Brisbane's CBD and is within easy reach of the Princess Alexandra Hospital, Greenslopes Private Hospital, Queensland Children's Hospital and several university campuses.

The project's location within a walkable urban village environment, surrounded by retail, dining and public transport infrastructure, continues to attract both professionals and healthcare workers seeking accommodation close to work.

Parkdrive Apartments, Chermside

Priced from: $749,000

The most affordable apartments across Brisbane's new and off the plan market are in Chermside where developer AusDev is selling one-bedroom apartments from $749,000, and two-beds from $929,000, at its recently launched Parkdrive development.

The development is strategically positioned in one of Brisbane's largest employment and retail precincts, placing residents within easy walking distance of Westfield Chermside, The Prince Charles Hospital, St Vincent's Private Hospital Northside and the suburb's major bus interchange.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Already under construction and scheduled for completion in early 2028, Parkdrive benefits from Chermside's ongoing evolution into Brisbane's northern metropolitan centre. The suburb continues to attract significant public and private investment, supporting population growth and underpinning long-term rental demand.

For investors focused on yield and tenant depth, the combination of healthcare, retail and transport infrastructure within close proximity provides a strong foundation for occupancy and rental performance.

Investors to turn to new apartments after Federal Government changes spark hunt for Queensland's best $1 million apartments

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

Rural

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Australia's pending 1 March tightening scrutiny of foreign ownership in agriculture highlights just how sensitive the ownership of the agricultural sector is.
It was underlined when in 2013 the government blocked the proposed $3.4 billion takeover of GrainCorp by US company Archer Daniels Midland.
Before the 2013 federal election, three quarters of people wanted tighter restrictions on land sales, according to an ABC survey.
A Lowy Institute poll last year found that 56% of people thought there was too much Chinese investment in Australia, compared with 37% who said it was the right amount.
“There is concern among a rural constituency that land will be bought by Chinese investors, who will export all the products and distort export prices,” Hans Hendrischke, professor of Chinese business at Sydney University <a href="https://www.ft.com/cms/s/0/4e4d6b86-b1b2-11e4-8396-00144feab7de" target="_blank">told the Financial Times</a> last weekend.
“But the fact is that investment in agriculture is needed and the volume of Chinese investment in agriculture is lower than many people think.”
Between 2006 and 2012 Chinese investors invested $1 billion into Australian agricultural businesses, which amounted to 2% of total Chinese investment in the country.
This compared with $36.8 billion investment in mining, according to a report, titled Demystifying Chinese Investment in Australian Agribusiness compiled by KPMG and Sydney University.
The Financial Times noted agreement on a trade deal between China and Australia in November had heightened interest in Australia’s agricultural sector. 
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jchancellor-FAypfDUnLy

Chinese rural investment lower than most think

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The Ray White group is supporting the farm rescue Buy a Bale campaign.
It has joined <a href="https://www.buyabale.com.au" target="_blank">in raising donations</a> in city and rural communities across Australia to provide hay and donations to help farmers feed their livestock and families during the drought.
Donations towards hay will be allocated to the farmers in greatest need in drought areas of Queensland and NSW.
Buy a Bale hears from over 20 farmers per week on their plight.
There were 100,000 bales donated last year, <a href="https://twitter.com/buyabale" target="_blank">according to the campaign's Twitter account.</a><a href="https://www.propertyobserver.com.au/https://twitter.com/buyabale/status/542545956789444608/photo/1" data-url="https://pbs.twimg.com/media/B4eCq_OCcAAY6vP.png:large" data-resolved-url-large="https://pbs.twimg.com/media/B4eCq_OCcAAY6vP.png:large"> </a>
<img src="/images/2015/02/16/bale.png" alt="">
Donations for groceries and gift cards are quickly allocated to farmers who hold the Farmer Cards, a prepaid debit card to cover the essentials.
In 2013 Charles Alder, frustrated by the stories of farmers who couldn't get assistance to feed stock that were starving, established the organisation.
<a href="https://www.farmrescue.com.au" target="_blank">It acts as a conduit for individual and corporate donations</a> to be channelled to drought farmers.
In early February 2015 Buy a Bale will be making its first delivery of hay for the year, delivering into the area north of Lightning Ridge.
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Buy a Bale drought campaign supported by Ray White

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GUEST OBSERVATION
Prime Minister Tony Abbott <a href="https://www.pm.gov.au/media/2015-02-11/government-tightens-rules-foreign-purchases-agricultural-land" target="_blank">has announced</a> long-promised changes to the rules for foreign land purchases and ownership in Australia.
There are two key changes. First, the Foreign Investment Review Board (FIRB) threshold will be reduced from A$252 million to A$15 million and be applied to cumulative purchases. Second, the Australian Taxation Office (ATO) will be tasked with creating a “stocktake” of foreign-owned agricultural land, which may lead to a national register.
Media reports of last week’s announcement have largely focused on the merits of lowering the FIRB’s screening threshold. But the foreign-owned land stocktake and register should be equally scrutinised.
Spearheaded by high-profile land (and water) sales to non-Australians, such as <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2012-10-12/sale-of-cubbie-station-confirmed/4310256" target="_blank">Cubbie Station</a>, the issue of foreign investment in agriculture has generated much discussion in recent years. Central to this sensitive issue is that no one knows exactly how much agricultural land foreign companies and governments own. And while there is uncertainty, the public debate seems locked to a dualism between “we are selling the family farm” and “overseas capital can only benefit agriculture”.
<a href="https://theconversation.com/lost-in-the-paddock-australia-flying-blind-on-farm-ownership-23836" target="_blank">Last year,</a> my colleague and I called for better national data sets that clearly document who owns agricultural land and at what rate it is changing hands. A land register documenting foreign ownership of agricultural land would likely address this data deficiency, but only partially.
Details of what the ATO will produce are yet to be delivered. But, it seems the ATO will start to record new foreign land purchases from 1 July 2015 (irrespective of value). This may then be matched with the development of a national foreign-owned land register that draws on the land titles registers kept by state and territory governments.
It’s not just about land
So far, media reports indicate the register will be focused on land. But what about investment in agricultural businesses separate from direct investment in land? In the most recent <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/allprimarymainfeatures/32E9BB779DABA3C1CA257905001453BC?opendocument" target="_blank">Agricultural Land and Water Ownership survey</a>, the Australian Bureau of Statistics reported that almost 90% of farmland was fully Australian owned and just under 99% of farm businesses were fully Australian owned.
Although that survey was <a href="https://parlinfo.aph.gov.au/parlInfo/search/display/display.w3p;query=Id%3A%22committees%2Fcommsen%2Ff49f61d7-23de-4f6f-b807-735c752ebcfa%2F0002%22" target="_blank">widely criticised</a>, the distinction remains important if efforts to document foreign land ownership are to prove as useful as possible. This is because although land ownership and the ownership of farm operations may or may not align, each is shaped by the other.
So, a register of foreign-owned land addresses only part of the huge data deficiencies related to foreign investment in the Australian farming sector. Despite the difficulties of untangling business structures, the ATO is perhaps best placed to align data collection and reporting on foreign ownership of both agricultural businesses and land.
What about water?
Australia’s water market and the legal separation of land and water titles further complicate the issue. It’s unclear whether a comparable register for foreign water ownership will be part of the ATO’s mandate.
Questions about who owns water access rights and at what rate they are changing hands are equally – or perhaps more – significant. This is especially in light of the Australian Bureau of Statistics’ results that showed agricultural water entitlements with some degree of foreign ownership increased by <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/allprimarymainfeatures/32E9BB779DABA3C1CA257905001453BC?opendocument" target="_blank">55% between 2010 and 2013</a>. In contrast, Australian land with some degree of foreign ownership remained largely unchanged.
Like land, the state and territory governments manage their water registers, so similar integration between the state/territory systems and any national register would be required.
It’s time to broaden the debate
The debate about foreign ownership of agricultural land and the means used to document it need to be broadened.
Whether it’s ownership of land, water or agricultural businesses, non-Australian sources of capital are only part of the picture. The foreign ownership debate needs to evolve to – or be merged with – a broader debate about the future of the agricultural sector.
Too often the future of agriculture is reduced to a binary logic of <a href="https://theconversation.com/who-will-be-the-next-round-of-investors-in-australian-farming-23773" target="_blank">family farmers and corporate farms</a>. However, the reality is there are many different ways to organise agricultural business and production.
Foreign investment is only one of the drivers of change. Australian institutional investment or private equity partnerships and their relationships with land and water ownership are also shaping the agricultural sector and rural communities. How these alternative business models may be changing will slip through the gaps of any land register focused exclusively on foreign ownership.
More data will not resolve the issue of foreign ownership. It also won’t magically set the future direction of agriculture. But, good data sets that capture the full spectrum of agricultural business and asset ownership models can better inform these debates.
If the ATO stocktake of foreign-owned land becomes a formal register, the prime minister’s announcement is a positive step. But it doesn’t go far enough. It’s time to move beyond the foreign- versus Australian-owned dichotomy. Expanding a national foreign-owned land register to include other agricultural assets and ownership changes among domestic investors will enable more informed discussion on what Australians really value about economic development, land and water resources and food production.
<img src="https://counter.theconversation.edu.au/content/37517/count.gif" alt="The Conversation" width="1" height="1">Erin Smith is post-doctoral research fellow at University of the Sunshine Coast.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
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ErinSmith-E4pdY7HUvR

Land ownership just the start in foreign investment debate

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Purchases of agricultural land of over $15 million will now be subject to Foreign Investment Review Board (FIRB) scrutiny, the Prime Minister Tony Abbott announced today. The Australian Taxation Office will conduct a stocktake to provide the register of foreign agricultural landholdings in Australia.
The new $15 million screening threshold will apply to the cumulative value of agricultural land owned by the foreign investor, including the purposed purchase.
"This is not saying that we don't want foreign investment," Abbott said.
"We do want foreign investment but it's got to be the right investment, the right investment that serves our purposes.”
The Commonwealth government is delivering on its commitment from the last election for scrutiny of foreign purchases of agricultural land being moved from $252 million to $15 million from 1 March 2015.
The Government will also establish a foreign ownership register of agricultural land to strengthen reporting requirements and provide a clear picture of foreign investment in Australia’s agricultural sector.
From 1 July 2015 the Australian Tax Office (ATO) will start collecting information on all new foreign investment in agricultural land regardless of value.
The government will continue to work with state and territory governments so that the ATO register will use land title transfer information.
 
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Abbott announces $15 million rural property acquisition FIRB threshold

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Artist John Olsen and his wife, Katherine have sold Owlswood, their 13-hectare Glenquarry property for $2.9 million. 
<a href="https://www.propertyobserver.com.au/https://bowral.randw.com.au/rural-for-sale/1086590" target="_blank">The Sproules Lane estate </a>came with a pool and tennis court and ornamental lake. Since buying the property for $925,000 in 1999, they added two wings to the original house.
They also built a two-storey gallery and a studio designed for John to paint large canvases.
There was also groom's quarters, 10 stables, open and covered arenas, given Katherine is a keen horsewoman. 
The Olsens have downsized to Hidden Lake, an eight-hectare Avoca property. It comes with a Canadian-style fishing lodge that the Olsens have renovated extensively.
Owlswood was sold through Michael Maloney at Richardson &amp; Wrench.
It was <a href="/news/nsw/artist-john-olsens-southern-highlands-home-remains-listed">initially listed in late 2011</a>.
Title Tattle recalls John Olsen, often described as Australia’s greatest living artist, had to be dragged to the Southern Highlands. 
John’s Summer at Owls Wood series, which was launched at The Bell Gallery in Berrima, was inspired by the effect of the drought and the bushfires on the grass in his garden. 
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Artist John Olsen sells Southern Highlands inspiration, Owlswood

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Nuntherungie Station, the pastoral holding once held by the iconic Sir Sidney Kidman, in NSW's far west has been listed for sale.
The price indication is $24 per acre.
The White Cliffs farm is 57,868 hectares or 143,000 acres. 
It is in the Broken Hill region with an early 1900s historic homestead. White Cliffs is a small town in outback New South Wales in Australia, in Central Darling Shire, around 255 kilometres north-east of Broken Hill.
It has been listed by <a href="https://www.realestate.com.au/property-livestock-nsw-white+cliffs-7709771" target="_blank">Scott Inglis at Inglis Realty</a>.
"Nuntherungie is a rare opportunity to run a Station of this size in Western NSW," Inglis said.
"With several possible income streams and a bright time ahead with lamb and beef prices rising, not to forgetting the incredible return from the goat market."
The grazing farm at 13553 Mutawintji Road is separated into 18 paddocks with 27 tanks.
"Nuntherungie Station would be a fine addition to any pastoral holding as it was for the iconic Sir Sidney Kidman in the early 1900s," Inglis said. 
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Nuntherungie Station, the former Sir Sidney Kidman Broken Hill farm, listed

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Only one of Nathan Tinkler's Patinack properties has been sold, so retailer Gerry Harvey has complained how Tinkler had used him ‘"like a little bank".
Harvey said former billionaire Tinkler had repaid him about $37 million, but the Harvey Norman boss added several deadlines for the full debt to be repaid had "never been adhered to".
"I’m like a little bank for him," Harvey said.
Last August last year, Harvey called in an estimated $40 million debt from Tinkler, with the horses and properties of the <a href="/news/nathan-tinklers-patinack-farms-scheduled-for-october-auction">Patinack Farm thoroughbred breeding and racing empire listed for sale</a>.
Only one Patinack property has yet sold, Banoon in Monegeetta, <a href="/expert-insights/buying/nathan-tinkler-sells-banoon-his-victorian-rural-property">auctioned for $2.5 million last year</a> (pictured above).
The properties at Sandy Hollow and Broke remain on the market.
Harvey holds first mortgages over them with the <a href="/expert-insights/finance/nathan-tinkler-horse-stud-farm-sales-come-with-ato-mortgages">Australian Tax Office also a creditor</a>.
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Gerry Harvey hopes for full repayment from Nathan Tinkler farm sales in 2015

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The McWilliam family has sold three vineyards - across NSW and SA - to Hong Kong-listed group CK Life Sciences for $15.7 million in a sale and lease back arrangement.
McWilliam’s Hanwood Estate winery will remain the home with its family history under leasehold. The <a href="https://www.mcwilliams.com.au" target="_blank">McWilliam's</a> family wine tradition started in 1877 when founder Samuel planted the first vines.
The other vineyards sold were The Station and Kirkgate in South Australia, The Land reports.
Over 135 years, McWilliam’s has championed New South Wales wines and today sources fruit from a variety of regions beyond the Riverina, including Hilltops, Tumbarumba, and Orange. Last year McWilliam's Wines Group returned to 100% family ownership after buying the remaining shares owned by E&amp;J Gallo.
CK Life Sciences has agriculture-related businesses in Mainland China and Australia.
In Australia, CK Life Sciences is the largest supplier of turf management products and services as well as the second largest supplier in the home garden products industry.
The group is the second largest vineyard owner in Australasia and also the largest producer of salt for the domestic market in Australia.
CK Life Sciences has a 72% interest in Belvino Investments Trust, formerly a listed Australian unit trust until delisting in 2011.
There are 13 vineyards in Belvino’s portfolio, along with irrigation water entitlements. Together, these cover around 4,800 hectares of land in Australasia.
Its other vineyards include Australia’s Qualco West Vineyard and three vineyards in Margaret River, as well as New Zealand’s Northbank Millennium Vineyard and Mud House Vineyards.
Spanning some 510 hectares of land, the Qualco West Vineyard is located in the Riverland wine region in South Australia. The Riverland wine region is Australia’s largest wine grape producing region.
The three vineyards in Margaret River comprise the Old Land Vineyard, the Rowe Road Vineyard and the Lionels Vineyard. Located in a premium wine-growing region three hours south of Perth in Western Australia, these three vineyards cover a total area of approximately 300 hectares.
The Northbank Millennium Vineyard has a total land area of about 175 hectares and a planted area of about 130 hectares. It is located at the top of New Zealand’s South Island in the Marlborough area, which represents the country’s largest wine-growing region.
The Mud House Vineyards comprise the Woolshed Vineyard in Marlborough; the Mound Vineyard, the Home Vineyard, and the Deans Vineyard in Waipara; as well as the Claim Vineyard in Otago. These vineyards have a total land area of about 600 hectares, and a planted area of about 380 hectares. They are situated in the key wine-growing regions in the South Island of New Zealand and are famous for producing premium wine.
A majority of the vineyards in CK Life Sciences’ portfolios are committed to long-term leases with major Australasian wine companies.
McWilliam has been selling holdings with its 2013 sale of the Hunter Valley investment, the $1.5 million, 29 hectare Middle Creek vineyard negotiated by Jurd’s Real Estate, Cessnock.
Colliers International suggest the lower Australian dollar and low interest rates would encourage more agribusiness to follow the McWilliams family into selling their property assets and leasing them back.
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McWilliam's vineyards sold to Chinese buyer in lease back arrangement

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Victoria's Warrenmang Vineyard and Resort at Moonambel, located 20 kilometres northwest of Avoca, has been listed by the retiring owners Athalie and Luigi Bazzani (pictured above).
They ran the tourist destination winery for around 36 years. On the Great Grape Road in the cool-climate wine territory of the Pyrenees, Warrenmang is credited as having pioneered the vineyard resort concept in 1989. By the early 1990s they were distributing the first Japanese-English tourist guide for the Geelong-Otway region.
<a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-moonambel-501367971" target="_blank">The 127 hectare offering</a> is tipped to fetch $5 million plus through Matt Leonard at Tweed Sutherland First National Real Estate, Bendigo.
It has a 100-seat vineyard restaurant, cottage and chalet-style accommodation for 80 guests along with a function centre for 100 people.
The resort opened in 1989 and has about 28 hectare under vine.
Wine judge James Halliday has rated Warrenmang Vineyard a five-star winery.
It was established as a retirement venture by the Parma-born Luigi Bazzani who has about 60 years in the hospitality business.
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Warrenmang Vineyard in Victoria's Pyrenees for sale

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The ANZ Bank has announced a 12-month moratorium on farm repossessions in Northern and Western Queensland and North-West New South Wales. 
ANZ CEO Australia Philip Chronican noted some of the worst drought conditions in a generation in the announcement which was the first of the big banks to respond to growing calls for Federal Treasurer Joe Hockey to intervene.
Queensland vet Dr David Pascoe; the Katters, the Queensland independent politician father-son team; Longreach-based Father Matthew Moloney; federal agriculture minister Barnaby Joyce and 2GB broadcaster Alan Jones have been among those putting pressure on the banks to stop the current spate of repossessions ahead of the wet season.
"We are acutely aware of the impact this is having on farmers, their families and on farming communities," Philip Chronican noted.
“The aim of these measures is to ease financial concerns of farmers and to demonstrate ANZ’s commitment to working with them through the cycle,” he said. 
The new package includes:
<ul>
<li>Moratorium on new farm repossessions until December 2015.</li>
<li>12-month commitment not to increase interest rates on distressed farms and interest rate relief in cases of extreme distress.</li>
<li>Financial assistance to support farmers choosing to relocate off the land.</li>
<li>Increased funding for rural counselling focussed on towns hardest hit by drought.</li>
</ul>
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