<a href="https://www.apartments.com.au/developments/collingwood-vic-3066">Collingwood</a>’s northern edge continues to sharpen its reputation as one of Melbourne’s most compelling cultural precincts, where established creative institutions, leading hospitality, and independent fashion converge within a tightly held inner-city neighbourhood.

Set within this evolving pocket, <a href="https://www.apartments.com.au/new-apartments/derby-street-by-milieu-collingwood-4-derby-street-collingwood-vic-3066">Derby Street by Milieu</a> draws on a location that balances proximity to some of the inner north’s most influential destinations with the quieter, tree-lined character that defines the streets edging East Melbourne. Positioned just moments from both Smith and Gertrude Streets, the address sits on the periphery of Collingwood’s cultural core, offering immediate access without the intensity of its busiest frontages.&nbsp;

[smartcode_project:default project_id=145576 project_image_fid=355945]

Gertrude Street, in particular, anchors the area’s identity as a destination for Melbourne’s leading food, art and fashion. Within a short walk, venues such as Marion, Cutler &amp; Co, IDES and the Builders Arms Hotel define a tightly curated dining scene with enduring citywide appeal, complemented by a strong fashion and retail presence including Havn, Le Labo and a selection of independent boutiques.

Nearby, institutions such as the Australian Print Workshop and Collingwood Yards sustain a constant rhythm of exhibitions, performances and creative output, embedding art and culture into the everyday fabric of the neighbourhood.

Smith Street, running parallel, extends this offering with a broader mix of hospitality and nightlife, maintaining its status as one of Melbourne’s most active inner-urban strips.

Beyond these high-energy streets, the immediate surrounds shift in tone. Derby Street and its neighbouring blocks are defined by low-rise heritage terraces, mature trees and a settled residential character. Fitzroy Gardens and Carlton Gardens are both within walking distance, alongside the Royal Exhibition Building and Melbourne Museum, bringing together green space and cultural landmarks within minutes of home.

[smartcode_project:default project_id=145576 project_image_fid=355985]

Connectivity remains a key advantage. The CBD sits within easy reach, accessible by tram along Smith Street in around 20 minutes, while also remaining close enough to walk or cycle, supported by the inner north’s established bike network.&nbsp;

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s long-standing connection to Collingwood underpins the project’s approach. With a portfolio that includes multiple nearby developments across Bedford, Peel and Napier Streets, the developer brings a sustained understanding of the area’s character and evolution. Derby Street continues this trajectory as a collaboration with award-winning Melbourne-based <a href="https://www.apartments.com.au/architects/studio-bright">Studio Bright</a>, marking the practice’s first multi-residential project in the inner north and reflecting a shared focus on design integrity and contextual response.&nbsp;

Balancing connection to the neighbourhood with a sense of seclusion and refuge, Derby Street by Milieu embodies a level of care and craft typically reserved for single residential projects. Comprising 22 residences across six storeys, with two to four-bedroom configurations priced from $1.15 million, the project is currently under construction with completion expected in late 2027.&nbsp;

[smartcode_project_cta:default project_id=145576]

Joel Robinson

Derby Street by Milieu, at the top end of Collingwood

A rare new apartment development in the Blue Mountains is the latest in a string of State Significant Development Applications submitted through the New South Wales Government's Housing Delivery Authority.

A total of 270 apartments are being proposed for the 1.16-hectare site at <a href="https://www.apartments.com.au/new-apartments/blue-mountains-alpine-retreat-142-150-narrow-neck-road-katoomba-nsw-2780">142–150 Narrow Neck Road in Katoomba</a>, a parcel of land adjoining the former Katoomba Golf Course. The site was acquired for $3.85 million in 2021 by private developer VDM Prime.

The apartments, comprising a mix of serviced apartments, affordable housing, and traditional build-to-sell product, will be spread across eight low-rise buildings, along with a separate building for a new restaurant, arranged around a green spine that leads to a central park.

<img alt="Katoomba" data-entity-type="file" data-entity-uuid="ee9a2072-f465-44f1-9076-80c9c8ecca02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-22%20at%209.20.21%E2%80%AFAM.png?VersionId=4bT0vQ7j_syl65wcrJmHGm3m5pTvwrY_" />

The Urban Design Report by Atlas Urban says the vision is to create a "contemporary mountain precinct that is responsive to its escarpment landscape, heritage character, and community context."

"The development responds to the current housing supply and affordability challenges identified under the NSW Housing Delivery Authority (HDA), providing a balanced mix of standard, affordable, and short-stay accommodation," the report noted.

"By introducing a variety of dwelling types and tenures, the proposal supports intergenerational living, local workforce retention, and greater housing choice within an area constrained by topography, heritage, and environmental protections."

Of the 270 units proposed, 52 will be serviced apartments. The remainder will comprise 54 studios, 121 one-bedroom units, 39 two-bedroom apartments, and four three- to four-bedroom residences.

<img alt="Katoomba" data-entity-type="file" data-entity-uuid="f704508d-1bdf-4170-955d-0256652402a7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-22%20at%209.56.49%E2%80%AFAM.png?VersionId=TzarHMO4gTOsblCqsbJQkvMqWj9nu2Au" />

The Design Report, by VDM Prime and appointed architect Antoniades Architects, noted that the design seeks to "provide a built form outcome that is highly considered, respectful and contextually fitting, whilst contributing positively to an evolving precinct."

"The site offers three frontages and the opportunity to provide a meaningful interface with the public domain environment. the design has a sympathetic response to streetscape and the green open space that surrounds the site."

The report states that the buildings are broken up to establish an appropriate bulk and scale, emphasised through height and setback strategies and defined through articulation that supports the transition of precinct granularity. It also notes that a central communal open space is established through the site to enhance the social dynamic and access to amenity, including natural ventilation and light to the apartments. The east and west frontages receive solar access during the morning and afternoon, whilst maximising views to the green open space.

The site adjoins the recently completed Yarrabee Katoomba development, comprising 24 duplexes that were completed last year and sold through McGrath Projects.

The relatively new Housing Delivery Authority pathway established by the NSW Government allows developers to submit State Significant Development Applications through a fast-tracked state process, effectively reducing reliance on local council approval pathways and aiming to accelerate housing delivery across New South Wales.

First look: Nearly 300 apartments pitched on former Katoomba golf course site

In Melbourne’s established inner east, the qualities that define a traditional house, width, height, and access to open ground, are increasingly difficult to replicate in new residential developments. Larger landholdings are scarce, and with them, the ability to create apartments that extend beyond compact, internalised layouts.&nbsp;

In <a href="https://www.apartments.com.au/developments/kew-vic-3101">Kew</a>, where the residential fabric is shaped by generous setbacks and mature tree canopies, that tension is especially visible.

<a href="https://www.apartments.com.au/developers/ricdanic-investments-pty-ltd">Ricdanic</a>&nbsp;is bringing forward a boutique collection of just 13 residences across two buildings at 9–11 Wimba Avenue, Kew. Comprising six homes at No.9 and seven at No.11, the project sits on a quiet, tree-lined street just off Cotham Road.&nbsp;

Each apartment has been planned with a level of independence more commonly associated with standalone dwellings, balancing privacy with the efficiencies of apartment living.

Architect Chris Idle, who has been practising for over two decades, says projects like this don’t come along often.

“There are very few opportunities to do these kinds of developments in leafy, established suburbs,” he explains. “To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare.”

[smartcode_project:default project_id=140755 project_image_fid=366267]

The internal planning begins with width. Living areas extend beyond five metres, allowing furniture, circulation, and glazing to sit comfortably within the same zone without compression. Ceiling heights shift from three metres through to five metres in select areas, changing the sense of scale as you move through the apartment. These proportions are paired with double-glazed windows and fully electric systems, balancing volume with performance, supported by a 7.2 NatHERS energy rating.&nbsp;

From the main living space, the apartments open directly outward. Large sliding doors connect to private gardens averaging 125 square metres, with some residences also incorporating balconies of around 60 square metres. Rather than acting as secondary outdoor zones, these areas sit flush with the internal floor level, extending the usable footprint of the home and allowing for multiple modes of use, whether for quiet daily routines or larger gatherings.&nbsp;

The landscape, led by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>, reinforces this relationship. Across the site, 23 different plant species have been introduced, including a mix of native and established varieties, arranged to maintain privacy while preserving sightlines and light access. Gardens are not treated as decorative buffers but as functional extensions of the apartments, shaped to accommodate movement, seating, and informal use over time.&nbsp;

[smartcode_project:default project_id=140755 project_image_fid=366265]

Architecturally, the project draws from Kew’s historic residential language. Handmade bricks by Krause define the exterior, grounding the buildings within the material palette of the suburb, while interior finishes, stone, timber flooring, and restrained detailing, continue this approach internally. Architect Chris Idle describes the intent as long-term rather than stylistic: “We wanted it to feel timeless.”&nbsp;

This emphasis on durability extends to how the buildings are accessed and secured. Entry is managed through keyless systems, with a double-gated basement incorporating number plate recognition for vehicle access. Each residence is paired with a private lock-up garage accommodating two to three cars, alongside storage, while all entry points are monitored continuously. These measures sit alongside EV readiness and fully electric infrastructure, aligning the project’s operational systems with its long-term design outlook.&nbsp;

The setting remains central to how the development is experienced. Located within walking distance of Kew Junction and close to established schools including Carey Grammar and Xavier College, the address benefits from existing infrastructure while maintaining a residential quietness that is increasingly difficult to find at this scale.&nbsp;

Construction is being delivered by <a href="https://www.apartments.com.au/builders/sinjen">Sinjen</a>, with a 10-year structural guarantee, with completion targeted for mid-2027.

[smartcode_project_cta:default project_id=140755]

Inside Wimba Ave, Kew’s garden-scale residences designed for space and permanence

High-end Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> has secured approval for one of its latest Mosman projects, one of the first developments approved by Mosman Council under the NSW Government’s Low and Mid-Rise Housing Policy.

The approval represents an important step in delivering well-considered housing next to established village locations on Sydney’s Lower North Shore, in line with the intent of the Low and Mid-Rise zoning framework. 
&nbsp; 
There are currently 13 other sites lodged within Mosman Council under the policy, with <a href="https://www.apartments.com.au/new-apartments/27-29-heydon-street-mosman-nsw-2088">Heydon Street</a> among the first to receive development consent. 
&nbsp; 
Abadeen Founder and Executive Chairman Justin Brown said the project reflects a considered and appropriate response to its planning context. 
&nbsp; 
“This approval demonstrates how carefully considered, design-led development can align with the objectives of the Low and Mid-Rise Housing Policy," Brown said.

"The scheme has been designed to respond sensitively to its village setting, with a built form, scale and level of amenity appropriate to its local context. The determination reflects a balanced and considered planning outcome, with Council recognising the capacity for this site to accommodate additional housing within a well-located and established precinct.”

<img alt="Abadeen secures first approval under low and mid-rise housing policy for Heydon Street, Mosman" data-entity-type="file" data-entity-uuid="92811ce3-02e8-44fc-996e-c61ae039bd3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Heydon%20Street%20Aerial.jpg?VersionId=ZHJVuWQT64QcdrFJx963pFWFzTX7lI2I" />

The Heydon Street approval followed extensive consultation with Mosman Council, with Abadeen working closely with Council throughout the assessment process.

The approved scheme comprises 27 residences, with only four per floor, creating a low-density living environment. The building will include four half-floor penthouses designed to capture views across Middle Harbour, Sydney Harbour and the surrounding district.&nbsp;

The project is expected to appeal to downsizers and owner-occupiers seeking house-like proportions, privacy and local convenience. There will be north-facing Middle Harbour views from the second level upward. It is also just a flat 100-metre walk to Bridgepoint Shopping Centre, which will appeal to owner-occupiers and in particular downsizers.

Two-bedroom residences are expected to be priced from $1.99 million when sales launch later this year. 
&nbsp; 
Joe Tack, CEO at Abadeen, said the outcome reflects both the quality of the site and the broader need for well-located housing. 
&nbsp; 
“This is a highly considered site within a highly established local setting, offering elevated views and strong connectivity. The project has been designed to respond to that context, delivering a scale and quality of housing aligned with both the planning framework and evolving market demand.” 
&nbsp; 
“This approval is particularly significant in the context of Mosman, where new housing supply has historically been limited. While it represents the first approval of this scale in Mosman to be achieved in over 50 years, it is importantly located within a well-established residential location, in close proximity to the established commercial amenity of Spit Road and Mosman Village. It reflects strong confidence in Abadeen’s approach to design, delivery and community integration, while contributing to the delivery of much-needed housing in a highly constrained market.”

Abadeen has an established track record across Sydney’s Lower North Shore, with recent completions including KOYO in Crows Nest and ENSO in Neutral Bay.

In Mosman, Abadeen recently completed The Hampden, with Mosman Residences on the corner of Spit Road and Clifford Street scheduled for completion later this year. Construction has also commenced at Burran Residences, comprising three full-floor ultra-premium homes positioned just 50 metres from Balmoral Beach, with residences expected to achieve prices in excess of $20 million. Two further projects are also progressing through planning within the local government area.

Abadeen secures first approval under low and mid-rise housing policy for Heydon Street, Mosman apartment development

Apartment developer <a href="https://www.apartments.com.au/developers/martello">Martello™</a> is one of the latest entrants to the Gold Coast development market, with its debut project set to be one of the most boutique offerings on Chevron Island in recent years.

Martello has unveiled <a href="https://www.apartments.com.au/new-apartments/aere-chevron-island-18-20-mawarra-street-chevron-island-qld-4217">Aere Chevron Island</a>, a collection of 33 large-scale two-, three-, and four-bedroom apartments across an 18-storey building on Mawarra Street.

[smartcode_project:default project_id=143932 project_image_fid=367517]

The developer has placed a strong emphasis on wellness, briefing architecture firm Raunik Design to embed this philosophy into the project. It is a direction <a href="https://www.apartments.com.au/developers/martello">Martello™</a> plans to carry through its future developments along the coast.

<a href="https://www.apartments.com.au/developers/martello">Martello™</a> has positioned Aere as a continuation of its human-centric development approach, with a focus extending beyond amenity to the fundamentals of layout, natural light, and spatial planning. Promax Construction has already been appointed to deliver the project, with construction expected to commence in the coming months as part of the group’s broader expansion into South East Queensland.

Rising above the low-rise fabric of Chevron Island, Aere’s design emphasises generous internal proportions and uninterrupted outlooks, with residences oriented to capture coastal, skyline, and waterway views. Interiors prioritise open-plan living, with large-format glazing and carefully considered transitions between indoor and outdoor spaces.

[smartcode_project:default project_id=143932 project_image_fid=367508]

The upper levels are dedicated to larger-format homes, including four-bedroom residences designed as half-floor offerings. These layouts prioritise separation between living and sleeping zones, along with increased privacy and storage, features more commonly associated with detached housing than traditional apartment product.

Aere’s private resident amenity spaces centre on wellness. A rooftop level will incorporate a heated swimming pool, sauna and spa, alongside a residents’ lounge, dining areas and barbecue spaces, while additional shared facilities throughout the building include a gym and yoga area.

The inclusion of both social and quieter retreat spaces reflects a broader shift in higher-end apartment design on the Gold Coast, where developers are increasingly responding to owner-occupier demand for buildings that support long-term living rather than short-stay use.

[smartcode_project:default project_id=143932 project_image_fid=367814]

Aere is positioned within walking distance of Chevron Island’s village centre along Thomas Drive, as well as the HOTA cultural precinct via the Green Bridge, connecting residents to parklands, galleries, and event spaces.

For <a href="https://www.apartments.com.au/developers/martello">Martello™</a>, Aere represents the first in a series of planned Gold Coast developments, with the group also exploring opportunities in other coastal precincts, including Kirra and Palm Beach.

The move north comes as sustained population growth and infrastructure investment continue to reshape South East Queensland, with developers increasingly targeting boutique, design-led projects in established lifestyle pockets. Aere’s relatively small scale and emphasis on spatial quality position it within this emerging segment of the market.

[smartcode_project_cta:default project_id=143932]

Martello™ enters Gold Coast market with wellness-led Chevron Island development Aere

Treasury

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The federal Treasury has proposed to streamline the buying of new property by foreign investors.
It says the current set of rules had unintentionally encouraged non-compliance due to its complicated structure.
It also proposes to encourage investment in sectors like retirement living, aged-care and student accommodation.
The consultation paper by the Treasury's Foreign Investment Policy Unit said the December 2015 overhaul of the foreign investment framework – the biggest in 40 years – had unintentionally “incentivised non-compliance" of the rules when it came to buying new residential property, according to a report in the Australian Financial Review.
Under current rules, foreign investors who want to purchase a new dwelling or block of vacant residential land need to apply individually for each property they are considering and pay multiple fees starting from $5000 per application.
To avoid through this cumbersome process, some foreign buyers were choosing to pay a fine and notify after they had purchased the property, rather than apply multiple times in advance, the paper said.
It suggested the introduction of an "new exemption certificate" giving foreign persons "broad pre-approval to purchase one new dwelling or vacant residential block".
Foreign buyers would then be required to notify Australian authorities when an actual purchase was made. 
The report also seeks to amend the treatment of residential land that is used for an aged-care facility, retirement village or student accommodation so that it is considered "non-vacant commercial land" thus lifting the FIRB screening threshold from zero to more than $55 million.
Some in the industry, like Julius Wei, co-founder of BMY Group, which connects Chinese high-net worth investors with opportunities in Australia, said the country was short of supply in these sectors and foreign investment into them "should be welcomed".
But he said the rules needed to incentivise foreign investors to invest for yield rather than capital gain, otherwise there could be a "huge jump in prices".
"Capital gains [in these sectors] should be taxed heavily," he said.
Wei also backed the proposed exemption certificate for individual buyers as according to him it was unfair to pay multiple fees if a buyer only intended to buy one property.
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jonathanchancellor-7SQnKwU6yx

Treasury plans to simplify rules for foreign property buyers

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The Federal Opposition has demanded to be consulted ahead of any federal election in July on the appointment of the Reserve Bank governor.
It is speculated the deputy governor will succeed Glenn Stevens as the central bank's governor.
The Australian Financial Review says Treasurer Scott Morrison has declined to consult with the opposition on any promotion to governor of Reserve Bank of Australia deputy Philip Lowe, who has won Labor's backing.
Shadow treasurer Chris Bowen on Monday demanded the government stop naming senior Treasury portfolio positions without consulting the opposition, because he argued the government is now effectively on an election footing.
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jchancellor-FAypfDUnLy

Labor demands to be consulted on next RBA governor 

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The Opposition has again slammed Treasurer Joe Hockey's latest crackdown on foreigners owning Australian land, describing it as a diversion from tackling housing affordability.
Mr Hockey announced the forced sale of six homes around the country. 
Three of the properties were in the Sydney suburbs of Eastwood, Fairfield and Mosman, two were in Kewdale in Perth and the other at Eight Mile Plains on the outskirts of Brisbane.
There were five owners from four different countries who had come forward since the crackdown began in ernest with a $39 million diverestiture order against a Piper Point buyer in March.
The six self reported cases ranged in price from $152,000 to $1.86 million.
There are 50 investigators looking into 462 cases in which foreigners were suspected of having bought or retained existing property without correct approvals. 
The Australian Taxation Office, the Foreign Investment Review Board, Department of Immigration and AUSTRAC have uncovered more than 2000 pieces of information relating to suspected breaches since monitoring of residential property acquisitions was shifted to the ATO in May from the FIRB. 
The Treasurer outlined his new, harsher penalties that will be enforced from December, against foreign investors who illegally buy established Australian properties or don't sell when the laws required.
"The period of amnesty we announced in May means that no criminal conviction is recorded for those who self-report by November 30, and they have to re-sell their property in 12 months, instead of three," Mr Hockey said.
"Australia welcomes foreign investment and Australia needs foreign investment but, at all times, foreign investors must comply with our laws," Joe Hockey said on Saturday.
"Some of the five investors have purchased property with Foreign Investment Review Board approval, but their circumstances have changed and they have failed to comply with the divestment requirements.
"Some have simply broken the rules by purchasing a property without approval and done so against the law.
"Time is running out for foreign investors to voluntarily come forward if they have illegally purchased existing residential real estate," Mr Hockey warned. 
"They have until November 30, 2015 to come to us before we come to them."
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Foreigners admit overstaying their Australian land ownership  

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GUEST OBSERVER
Federal Treasurer Joe Hockey’s call for a proper debate on state taxes and the state governments’ over-reliance on inefficient state taxes including stamp duty is welcome and completely in line with community attitudes. The Treasurer’s speech comes just days after polling revealed widespread public acceptance of future GST changes.
Joe Hockey has said what everyone knows – stamp duty is a harmful, distortive tax which needs to be abolished and this will require broader tax reform to be achieved.
Abolishing stamp duty and replacing it with a more efficient revenue base would address housing affordability, boost the economy, be supported by the community, and bolster fragile state budgets.
Obviously the removal of stamp duty needs to occur in conjunction with a broader series of tax changes so that states and territories have the revenue they need to deliver services, and it is essential that GST reform is on the table.
A report from Newgate Research Community attitudes towards tax reform, commissioned by the Property Council, found that nine out of ten Australians surveyed supported tax reform which made the system simpler and fairer.
Far from being political poison, people see the GST as our fairest tax.
Our research shows that a reformed GST would pass the fairness test set by our political leaders.
Some 65% of respondents believed the GST to be fair or very fair, and only 35% as unfair, with most citing its benefit as a tax that cannot be dodged.
While there was some variation, this fairness rating was the majority view regardless of the respondent's gender, age, state, voting intention or property tenure.
The research also shows that people think it is inevitable that the GST will go up. When asked what they believed would happen over the next decade, almost three quarters (72%) said the GST will increase.
Strikingly, only 2% believed it would definitely not go up and just 6% that it would probably not go up. For the public, this is almost a done deal.
Getting rid of stamp duty needs to be a top priority of every government in the country. It has the highest costs to economic growth and living standards.
Treasury’s own modelling shows that Australia’s economic welfare is reduced by 73 cents for every dollar of stamp duty raised, which is 50% worse than company tax and three and a half times worse than income tax or the GST.
The Treasurer’s call today coincides with a release of the Grattan Institute’s Property Taxes working paper which moots the introduction of a new property tax on owner occupied housing.
We welcome the Grattan’s Institute acknowledgement that stamp duty needs to be abolished, but the idea of introducing yet another new property tax without retiring existing inefficient taxes is unfair and will unacceptable to the community.
The Grattan report conveniently leaves out stamp duty in its attempts to argue that property is undertaxed in Australia.
The industry currently pays $77 billion of taxes to all three levels of government. Treasury estimates that property specific taxes make up 9% of Australia's total tax take compared to an OECD average of just 5%. We're surprised Grattan would get this so wrong.
Furthermore the Grattan Institute report admits that they would need an extra new property tax at double the rate they proposed to fund the replacement of stamp duty.
The Property Council is happy to explore the option of a broad based low rate land tax, but the reality is that it won’t raise enough money to abolish stamp duty, it will be politically unpopular and it doesn’t do anything to fix the high land taxes on commercial and investment property.
There is absolutely no justification for a new property tax that does not offset other punitive taxes.
Changes to the GST is a practical solution to enable stamp duties to be retired to boost the economy in a way that is fair.
Ken Morrison is chief executive of Property Council of Australia. He can be contacted <a href="https://www.propertyoz.com.au/Profiles/ProfileDetail.aspx?pid=76" target="_blank">here</a>. 
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po-LsXgBTHBmX

Hockey’s call for proper debate on state taxes welcome

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Further developments into possible legislation tightening foreign investment in residential real estate have been made with stakeholders invited to make a submission into the substantive Bills making up Treasury's Exposure Draft into implementing foreign investment reform.
Treasury are asking for submissions into the Fees Imposition Bill, with the eventual reforms will be given effect by the Foreign Acquisitions and Takeovers Legislation Amendment Bill 2015, the Register of Foreign Ownership of Agricultural Land Bill 2015 and the Foreign Acquisitions and Takeovers Fees Imposition Bill 2015.
According to the submission the government aims to promote greater transparency through a lands register, implement a simpler foreign investor framework, transfer all residential real estate functions to the ATO and enforce stricter penalties for illegal foreign investment.
CoreLogic RP Data's senior research analyst Cameron Kusher recently stated that while housing may be looking expensive to locals, the declining Australian dollar means that it may be looking more attractive to foreign buyers.
The Exposure Drafts and Regulatory Impact Statement of legislation designed to tighten foreign investment rules can be read <a href="https://treasury.gov.au/ConsultationsandReviews/Consultations/2015/Implementing-Foreign-Investment-Reforms" target="_blank" style="line-height: 1.3em;">here</a>, with submissions open up until Friday 17 July.
 
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mick.cee-iDmgDDAmu8

Government calls for foreign investment reform submissions

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Figures from Federal Treasury show there were 88,000 established homes owned by temporary residents as of March 2015.
There are concerns that people on temporary residency visas — who are entitled to buy established homes as long as they sell on leaving the country — have kept their properties as investments.
NSW accounts for 26% with Victoria constituting 25 per cent of those home approvals as temporary visa-holders.
Western Australia accounts for 22% of the established housing market for temporary residents, Fairfax Media report.
Queensland has 19% followed by South Australia with 4%, the ACT with 1.5%, Tasmania with 1.1% and Northern Territory with 0.2%.
Temporary residents are allowed to buy one established dwelling to live in, but are required to sell it when their visa expires or the property is no longer their primary residence.
 
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