Brisbane-based <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co Developments</a> has officially launched its $250million COMO apartment development in Varsity Lakes, while simultaneously commencing construction.&nbsp;

Building work is now underway at COMO following the appointment of <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a> as contractor to deliver the boutique development which will rise on a 2857 sqm site overlooking Lake Orr at 22 Lake Street.

When completed, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels located in the heart of Varsity Lakes.

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The project, which will sit alongside Bond University, will deliver a diverse array of apartment designs comprising one-, two- and three-bedroom residences that have already attracted interest from local and interstate investors as well as an array of owner occupiers looking to gain a foothold in the precinct.

Red &amp; Co, which has largely focused on the Brisbane market in recent years where it has delivered more than 500 apartments and townhouses across 26 projects, has designed COMO to combine tranquil, lakeside living with the vibrant urban convenience of the vibrant Varsity Lakes village.

“We’re thrilled to announce a start to construction of COMO in conjunction with the official launch of the project, our first for the Gold Coast,” said Red &amp; Co Director and Co-Founder David Laverty.

[smartcode_project:default project_id=135546 project_image_fid=363509]

“COMO is superbly positioned to capture the essence of the Varsity Lakes village lifestyle and its thriving café and dining precinct, while delivering a much-needed diverse supply of premium residences for the local market.

“Pre-launch inquiries have been strong among both local and interstate investors and owner-occupiers, including downsizers and upgraders who appreciate the value proposition that COMO represents.”

Prices at COMO start from $1,000,050.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the COMO development incorporates an extensive range of amenities for residents including a 25-metre rooftop lap pool, sundeck, barbecue and dining areas, as well as multiple rooftop pickleball and paddleball courts, a wellness and activity centre, gym, sauna, plunge baths and landscaped gardens.

“COMO presents a rare opportunity to secure a stylish, lifestyle-focused home in one of the Gold Coast’s most sought-after neighbourhoods,” added Laverty.

“The rooftop will be the epicentre of fun for residents with an array of amenities for residents that are quite unique for a boutique project such as this, all while offering spectacular vistas across the Gold Coast as far north as Southport and south to Burleigh.”

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&nbsp;

Red &amp; Co has chosen the Varsity Lakes site for its proximity to top-tier schools, major shopping hubs, such as Robina Town Centre and its CBD offering, as well as key Gold Coast transport links, including Varsity Lakes Train Station.

COMO will be located just a short walk to shops, cafes and restaurants in Varsity Lakes and just a 10-minute drive to the Burleigh Heads beachfront.

With construction currently underway, Red &amp; Co anticipates COMO will be completed in 2028.

[smartcode_project_cta:default project_id=135546]

Joel Robinson

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

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

Raptis secures prime Surf Parade site for next Broadbeach apartment development

Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333359]

Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333362]

Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363368]

Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363369]

The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

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Gardner Vaughan Group tops out Bask Bokarina apartments

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

Hirsch & Faigen unveils The Eveleigh in Broadbeach

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

State Government

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The NSW Government has announced it would fund the increase in the emergency services levy for NSW councils this financial year to meet the cost of new workers’ compensation for firefighters.
Acting Premier and Minister for Regional NSW John Barilaro and the Minister for Local Government Shelley Hancock said the State’s 128 councils would not have to pay the additional $13.6 million this financial year.
They said the NSW Government was doing this primarily to take the strain off of regional and rural areas badly affected by the drought.
Minister for Emergency Services David Elliott said firefighters risk their lives to keep the people of NSW safe every day and it’s important they receive the full support of the communities they serve.
“The new laws enable eligible firefighters diagnosed with one of 12 cancers to automatically be presumed to have acquired that cancer because of their firefighting work,” Mr Elliott said.
“These changes will ensure current and former firefighters – both volunteer and paid – who need care and support receive their entitlements immediately.”
Mrs Hancock said the Government will continue to support local councils to deliver for their local communities.
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NSW Government to increase funding for council emergency services levy

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EXPERT OBSERVER
The Urban Development Institute of Australia (UDIA WA) has congratulated the WA state government on a return to surplus in this year’s budget, however expressed a level of disappointment that this has not led to more significant stimulus measures for the struggling property market.  The Treasurer should be commended for his careful management of the state’s finances to get us to the point of a surplus in 2019/20 and progress toward his 150,000 new jobs target. While we welcome the temporary increases to Keystart thresholds that are the result of this stronger financial position, we do think that there is more the McGowan government could do to support people purchasing homes. The property industry has a significant impact on the WA economy contributing approximately $21 billion to Gross State Product in 2017/18, therefore measures to support households can also significantly boost our economy and local jobs.  The state government’s revenue, via property taxes in particular, would be boosted considerably if the property market recovery was further supported  The budget papers on one hand, recognise the decreased revenues that have resulted from ongoing weaker property market conditions and on the other hand, make predictions in the forward estimates about projected increases in revenue that are expected to come from sources such as transfer duty. Unless we see more support for the recovery, the government will not see an increase in revenue from these sources. FOREIGN BUYERS SURCHARGE:
UDIA also believes that the Foreign Buyers Surcharge (the surcharge) is not providing the government with as much revenue as was initially predicted in last year’s budget papers.  Last year the Treasurer was very enthusiastic about the prospect of about $120 million in expected revenue over four years resulting from the surcharge.  This year, the surcharge revenue figures are hard to judge given they are buried in the broader Transfer Duty line items. Last year the surcharge was listed as a separate line item with clear forward estimates related to revenue.   I just don’t see how that target will be reached given the decline in foreign investment we are experiencing,  when attracting foreign investment free of surcharges could have been a unique selling proposition and drive further investment for Perth. MARKET STIMULUS:
In terms of further market stimulus, UDIA wants to see a stamp duty concession introduced for seniors looking to downsize into more liveable homes.  As well as ensuring that seniors live in homes suitable to their needs, broader government revenues would benefit from a concession on stamp duty given the greater market activity it would generate.  Not to mention that it will free up more homes for younger families to access,. I hope that the Treasurer is true to the advice he gave to us today and considers a seniors stamp duty concession as the state finances continue to improve. INFRASTRUCTURE:
UDIA has also welcomed expenditure on METRONET, redevelopment plans for the East Perth Power Station and other major road infrastructure.  It is very encouraging to see that construction will start on the Thornlie-Cockburn and Yanchep rail lines this year.
The precincts around the new stations will create important opportunities to provide a diversity of more affordable, connected housing to the people of WA.
Infrastructure costs have fallen significantly in recent years, and given the surplus achieved and forecast, there is no better time for the government to invest in infrastructure. We are still keen to find out what the government’s value capture policy will be so that industry has more clarity regarding how that will impact development in those precincts. Details on Value Capture have not been listed in the budget papers.   Overall, UDIA is pleased to see that the state is in a more stable financial position than it has been in recent years and we trust that the state government will build on the Keystart initiative and continue to support the property market recovery moving forward.
TANYA STEINBECK is the UDIA WA CEO
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WA government must build on initial housing stimulus measures: UDIA WA's Tanya Steinbeck

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The former Labor state government minister Carl Scully has been appointed among the community and business leaders to chair the Sydney Planning Panels that make decisions on major development proposals.
The appointments were announced by the Department of Planning and Environment’s executive director of regions, Steve Murray, who said the new chairs bring a high level of expertise to the panels.
“The decisions made by the Sydney Planning Panels will be independent and based on the merits of the proposals that are put before them.”
The four new Planning Panel Chairs are:
<ul>
<li>The Hon. Carl Scully — Sydney Eastern City Planning Panel</li>
<li>Mr Justin Doyle — Sydney Western City Planning Panel</li>
<li>Professor Helen Lochhead — Sydney South Planning Panel</li>
<li>Mr Peter Debnam — Sydney North Planning Panel</li>
</ul>
The new chair of the Sydney Central Planning Panel is expected to be determined in the coming weeks. 
The new chairs have been appointed because the roles of Sydney Planning Panel Chair and District Commissioner of the Greater Sydney Commission have been separated. 
The appointments followed consideration of 70 applications by a selection panel. 
Currently, the projects they assess are valued over $20 million but from the 1st March that threshold will be increased to $30 million.
The panels also act as the relevant planning authority in some decisions when directed by the Minister for Planning or the Greater Sydney Commission, undertake rezoning reviews, and provide advice on planning and development matters when requested.
Carl Scully — Sydney Eastern City Planning Panel
A former minister of the NSW parliament, Mr Scully’s career spans more than 30 years in the public and private sectors. He practised law for seven years before embarking on a 17-year political career. For almost 12 of those years he served in ministerial positions involved in the delivery of major infrastructure projects including the portfolios of public works and services, roads and transport, and housing. He returned to the private sector in 2007 where he has worked for WorleyParsons, most recently as director of International Business Development. In 2015, he was appointed as Chair of the NSW Mine Safety Advisory Council.
Justin Doyle — Sydney Western City Planning Panel
Mr Doyle is a lawyer focused on planning and environment law, with 11 years’ experience as a practicing barrister, and 10 years before that as a solicitor. He has been the lead counsel for a team of barristers acting for the Commonwealth Department of Infrastructure in cases on the land at Badgerys Creek to allow for the development of Western Sydney Airport. His work also includes land contamination issues and the redevelopment of the former James Hardie asbestos plant which includes negotiations with the Department of Lands and Parramatta Council.
<h4>Professor Helen Lochhead — Sydney South Planning Panel</h4>
For more than 20 years Prof Lochhead has combined university teaching with her practice as an architect specialising in complex large-scale projects. She is currently Dean of the Faculty of the Built Environment at the University of NSW. Prior to that her career focused on the planning and delivery of major projects ranging from a five-year city improvements program for the City of Sydney to major urban regeneration projects. Prof Lochhead has extensive experience on university, government and industry committees, panels and boards, most notably as the National Board of the Australian Institute of Architects, Central Sydney Planning Committee, Sydney Harbour Design Review Panel and the NSW Heritage Council.
Peter Debnam — Sydney North Planning Panel
Mr Debnam served as leader of the opposition of the NSW parliament as well as holding several shadow ministerial positions including shadow minister for planning and urban affairs and housing from 1997 to 1999. Before politics Mr Debnam had broad management experience starting with his military service followed by business development and general management in the aerospace and rural service industries. He completed an MBA in 1993. Since leaving politics in 2011, Mr Debnam has contributed to charities and not for profit organisations including as the Chair of NSW Kids in Need Foundation Limited, The Muscular Dystrophy Association of NSW, and the Advisory Board of Our Big Kitchen Limited.
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Carl Scully gets eastern Sydney planning posting from State Government

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The Sydney Harbour foreshore is set for infrastructure upgrades after the NSW Government announced plans to sell the revenue streams to the ground lease rental income at four government-owned properties.
The government plans to sell the ground lease rental income for the Novotel Rockford at Darling Harbour, the Holiday Inn Old Sydney in The Rocks, the Quay West car park and the Shangri-La Hotel in The Rocks.
Property NSW CEO Brett Newman said the transactions will provide much needed funding.
"These transactions will enable us to unlock much needed funding to preserve and enhance our iconic foreshore, ensuring the millions of locals and tourists who visit these precincts each year enjoy a world-class experience," he said.
By selling the ground lease rental income for the properties, the government will receive an upfront payment to help fund important infrastructure work, while ensuring the properties remain in government hands.
The plan to divest the ground lease rental income follows the announcement in 2015 that certain non-core commercial assets held by the government would be considered for divestment.
The government has previously entered into long-term lease arrangements with existing tenants at the four properties and the proposed divestment strategy will have no impact on existing lessees.
On expiry of the term to receive ground lease rental income by the successful purchaser(s), the rights to the ground lease rental income at the four properties will revert back to the government.
Property NSW is managing the divestment, with Deloitte Real Estate engaged to provide due diligence, advisory and transaction services.
In December 2016, the Government announced the divestment of the ground lease rental income at Darling Quarter for $191 million to help fund the new Circular Quay ferry wharves.
 
 
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jrobinson-rf4aSBido9

State Government divestments at The Rocks to fund Harbour infrastructure work

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<img src="https://counter.theconversation.edu.au/content/79581/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The Victorian government’s 2017 housing policy contains a bulk transfer of public housing to housing associations. Housing Minister Martin Foley’s explanation is that “the state is a terrible housing manager”. 
A similar rationale underlies the handing of public housing estates to private developers to build private housing, the sales of which fund some new public dwellings with the added justification of increasing social mix.
Our soon-to-be-published research examines the rollout of this program. In inner Melbourne, following redevelopment of the Kensington, Carlton and Prahran estates, nine more estates have been targeted. The tenants of buildings to be demolished will be relocated from mid-2018, according to a government briefing paper.
The federal Greens MP for Melbourne, Adam Bandt, has criticised the program as selling public land to private developers “for a bagful of cash and a smattering of new social housing”. He adds that Melbourne needs “a large-scale build of new public housing on a 1960s scale”. 
Foley’s defence of the rollout, in an odd non sequitur, is that Labor:
… can’t condemn another generation of Victorians to live in housing poverty.
A flawed idea that began with Thatcher
Public housing stock transfer and estate redevelopments in public-private mix are part of a trend that began in Thatcher’s Britain. The Blair government continued the approach, which has become neoliberal policy orthodoxy in the UK and Australia. 
This allows governments to wriggle out of providing housing for people on low incomes by transferring responsibility to non-government and private sectors. 
The thing is, housing associations are not necessarily secure or better managers, especially as they become institutions in their own right. Furthermore, privatisation of public land to fund upgrades to public housing not only fails to deliver good value for taxpayers, but is unsustainable. At some point there will be further upgrades needed and no land left to sell.
The argument that the state should not be in the business of managing or building housing is one we’re hearing more often. It’s connected to the small-government case more broadly: should the state be involved in health care, education, the media?
As the ABC and BBC demonstrate, however, state-owned enterprises can operate perfectly efficiently. And, ironically, they provide a rare source of ideological independence from both government and big business.
Why shouldn’t the state fund an ongoing program of upgrading, replacing and building public housing? Why shouldn’t it establish a regional organisational structure which is locally responsive? There is no case for assuming that, simply because the state is involved, construction and management must be inferior and people will be consigned to “housing poverty”. 
The major determinant is a matter of finance. And the state will always have better and cheaper access to finance than the non-government and private sectors. 
If finance were really as impossible a problem as governments like to make out, and if it were deemed reasonable that privatisating public land could help fund this process – and these are big ifs, which should be publicly debated – then the government should be the developer, to retain control of the profits. These should go back into public housing instead of disappearing with a private developer. 
Lessons from Carlton and Kensington
The Victorian government’s call for tenders for its Public Housing Renewal Program does indicate some learning from the experiences at Kensington and Carlton.
The sale price for the public land “will reflect the land value and must meet a minimum threshold based on a market value mechanism agreed by the Valuer General Victoria [VGV]”. This is an important concession, though VGV valuation is no guarantee of market price. 
The tender document notes that “where the return achieved by the development proceeds exceeds a benchmark, it is anticipated that there will be an agreed sharing of the excess”. The government will need to keep a close eye, though, on the costs and profits declared by the developer. 
The specification for the number of social housing dwellings on the redeveloped estates to “exceed the current number of public housing dwellings by 10%” is a definite improvement on the Kensington project. But replacing three-bedroom family dwellings with studio apartments, as is the case at Carlton, doesn’t constitute an increase in tenants. 
Even if tenant numbers do increase, 10% seems a disappointingly modest aim.
It is the social mix objective that really brings this approach unstuck, however, especially when the favoured model of private developers is to separate public and private residents by buildings, if not entire precincts. 
The minister reacts with horror to the suggestion that inner-city public land should start from the presumption of 100 percent public housing and work back from there according to the development economics. It seems a manufactured horror. Gentrified inner Melbourne is not Brixton or Baltimore – these estates are surrounded by private housing and excellent public services and community facilities where opportunities for interaction are plentiful.
Let’s dismiss the fig leaf of increasing social mix on estates in privileged inner cities. We should concentrate instead on providing as much low-income housing as we possibly can for people who desperately need somewhere decent to live.
<a href="https://theconversation.com/profiles/kate-shaw-39629" target="_blank">Kate Shaw</a> is Future Fellow, University of Melbourne and author for The Conversation.
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Why should the state wriggle out of providing public housing? Kate Shaw

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There's not going to be much news for the first home buyers within Tuesday's NSW state government budget.
That's because the Premier Gladys Berejiklian has already announced her housing affordability package which officially starts July 1.
It was a valiant effort, but one I felt without convincing reasoning for the major policy of relief for the first home buyer.
It had the impression of the state government being seen to do something under the weight of all the recent unaffordability headlines.
The NSW Government’s solution for housing affordability sees stamp duty abolished on all houses and apartments up to $650,000 and reduced stamp duty relief for homes up to $800,000.
The valid fear is the government's well intentioned measures could prove counter-productive and lead to an increase in prices if first home buyers who hold off during June, then rush into the market in July.
Indeed the Starr Partners agency quickly noted vendors seeking to prise more of of their offerings by asking their estate agents to list their homes for slightly more, given that first home buyers will soon have more to spend. 
"When first home buyer grants were introduced a few years ago, we saw the same thing," Douglas Driscoll, the Starr Partners chief noted.
Though it's unlikely to impact too deeply in Sydney’s inner and middle-ring suburbs as just 20 per cent of detached housing stock and 33 per cent of unit stock fall within the $650,000 price threshold for stamp duty exemptions.
No suburbs within a 25km radius of the CBD have a median house price under $650,000, while just 38 have median unit prices under the figure which has not been indexed.
CoreLogic noted across in the entire Sydney metropolitan area just 25 per cent of dwelling sales over the past year were at a price of $650,000 or less.
The measure will encourage higher update of apartments given their pricing.
As Driscoll said the affordability crisis is a Sydney issue, not a state wide issue so regional NSW first home buyers are set to benefit the most from the measure.
It will take a big rise in first time buyer demand to prop up the overall housing market, filling any gap by fewer investors should they exit in the market.
There was an historic four percent low of NSW housing finance commitments to owner occupier first home buyers in recent calculations compared to 46 percent of lending to investors. 
Young first home buyers who don't wish to rush the market after July 1 will no doubt seek out the Federal Budget's simple superannuation top-up scheme that offers generous tax breaks.
The Federal Government's headline housing measure also kicks in from July 1 when the first-home buyer can start to salary sacrifice into their super account.
Withdrawals for home purchasing, taxed at marginal tax rates less a 30 percent offset, will be allowed from 1 July 2018.
This article first appeared in The Daily Telegraph.
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Not much not already announced for first home buyers in NSW budget 

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GUEST OBSERVER
The REIQ welcomes the State Government’s extension of the First Home Buyer Grant boost until December 2017, however is disappointed that the Government has refused to broaden the grant to include established homes in regional Queensland.
Regional Queensland property markets continued to struggle, with the housing oversupply one of the region’s biggest problems.
We welcome the goal behind the First Home Buyer Grant, which is to stimulate jobs and this measure has been successful in the southeast corner, with the added benefit of additional supply moderating price growth where demand is strong.
However, additional supply in regional Queensland is going to further slow these markets and make any price recovery much longer to come into effect.
The REIQ also welcomes those measures designed to stimulate jobs in regional Queensland, where climbing unemployment is impacting on the community in devastating ways. 
Unemployment destabilises housing tenure and this uncertainty is damaging to the fabric of the community.
The government’s $200 million jobs program, Works for Queensland, delivered over the next two years into regional Queensland, will tackle the need for infrastructure in regional communities and also the unemployment issue head on and we applaud these efforts.
The REIQ was disappointed this government has chosen to ignore advice from a range of experts on abolishing stamp duty.
Stamp duty is an onerous fiscal burden that stifles housing mobility and many experts are in agreement, including the Henry Tax Review, that stamp duty should be replaced.
When the cost of selling your house comes with an additional price tag of tens of thousands of dollars it gives many people pause.
Empty nesters wait longer to downsize and young families wait longer to upsize and this creates inefficiencies in the housing market that are undesirable.
The real estate sector provided a significant revenue stream for the government and employed around 50,000 Queenslanders.
The government should heed the advice of the experts when it comes to the health and well-being of this vital sector in the Queensland economy.
The key pillars that underpin the real estate profession are fragile – jobs figures are soft, wages growth is flat and investors are facing tightened lending criteria.
Real estate is facing considerable head winds and the Government needs to acknowledge these challenges and devise appropriate policy responses to ensure its continued growth,” she said. 
Antonia Mercorella is chief executive officer, REIQ, and can be contacted <a href="https://www.reiq.com/" target="_blank">here</a>.
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Key pillars underpinning real estate profession are fragile: Antonia Mercorella 

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McGrath sold the latest tranche of government-owned Millers Point properties last night for a total of $12,765,000.
The four properties sold under the hammer included two terrace homes, two side-by-side terraces sold in one line, and a landmark seven-bedroom residence which was originally built as the “Hit &amp; Miss” hotel.  
McGrath Edgecliff agent, Lorraine Crawford, said the Millers Point market "continues to show strength."
It saw healthy bidding on all properties with the buyers a mix of owner occupiers and investors.  
“We have maintained McGrath’s 100 percent auction clearance rate with the stand out result the sale of the iconic “Hit &amp; Miss” hotel which sold under the hammer for $4,805,000,” said Ms Crawford. 
The "Hit &amp; Miss" hotel was licensed from 1852 until 1923.
It later operated as a migrant hostel, before it was remodelled into five residential apartments in the 1930s.
The heritage building is a rare offering with exquisite features ready to be restored to a grand home. 
The properties were sold by Lorraine Crawford, Peter Starr and Andrew Stewart of McGrath Edgecliff.
69 <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/sydney-cbd/millers-point/331237" target="_blank">Windmill Street,  Millers Point</a>, NSW (above)
Sale price: $4,805,000
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/6/700_trinity.jpg" alt="">
14-16 <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/sydney-cbd/millers-point/331236" target="_blank">Trinity Avenue,  Millers Point</a>, NSW (above)
Sale price: $3,000,000
<img src="https://www.urban.com.au/images/2017/04/6/Screen%20Shot%202017-04-06%20at%2010.32.47%20AM.png" alt="">
52 <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/sydney-cbd/millers-point/331240" target="_blank">Kent Street,  Millers Point</a>, NSW (above)
Sale price: $2,600,000
 
 <img src="https://www.urban.com.au/images/2017/04/6/Screen%20Shot%202017-04-06%20at%2010.33.50%20AM.png" alt="">
1 <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house/nsw/sydney-cbd/millers-point/331351" target="_blank">Windmill Street,  Millers Point</a>, NSW (above)
Sale price: $2,360,000
 
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More Millers Point property sold by NSW Government including Hit & Miss hotel premises 

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Pittwater MP Rob Stokes's planning portfolio will be taken over by Lane Cove MP and former energy minister Anthony Roberts (above) in the new NSW State Government cabinet.
Stokes takes on education in the ministry reshuffle announced by Premier Gladys Berejiklian.
Her Deputy Liberal leader Dominic Perrottet will move from finance to become treasurer, as was his entitlement.
There will be a minister for the $16.8 billion WestConnex motorway, the Penrith MP Stuart Ayres.
Cronulla MP Mark Speakman moves from environment to attorney-general, replacing Vaucluse MP Gabrielle Upton who takes on environment and the challenging local government portfolio.
Ryde MP Victor Dominello moves from innovation and better regulation to finance.
Andrew Constance remains Transport and Infrastructure Minister.
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Rob Stokes hands planning ministry in NSW Cabinet to Anthony Roberts

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The architect Eugene Marchese has emerged as one of the buyers in the State Government's Miller Point terrace selloff.
He's secured a 1875 Victorian Italianate terrace <a href="https://www.realestate.com.au/property-house-nsw-millers+point-122044050" target="_blank">for $3.2 million</a> with wife Joanne.
Part of the Winsbury Terrace row, the property was advertised as requiring a complete restoration when offered by McGrath selling agents Peter Starr and Lorraine Crawford.
The three storey, four bedroom home is a 5.7 metre wide terrace on a 154 sqm Kent Street block with views over the Harbour Bridge and Observatory Hill.
So far the government has sold 91 properties ranging from $1.55 million to $7.7 million.
This article was first published in the Daily Telegraph.
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