<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" data-turn-id-container="request-WEB:84a2af5e-d7cf-4ddf-922a-f4d44d6c6caa-1" dir="auto">
The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

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

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

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

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

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

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

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

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

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

Western Australia

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The lower end of Western Australia's south west property market has experienced reduced sales volume and a weakening of values, according to the valuation firm, Herron Todd White (HTW).
First home buyers and investors generally make up the buyer profile for the lower end of the market.
"The market is driven relatively equally by both (of these buyer demographics)," the HTW report stated.
"First home buyers have been stimulated by government rebates, low interest rates and property values in general being the lowest they have been for numerous years.
"These positive indicators have resulted in first home buyers returning to the market."
Competition for the lower market segment is brought by investors who are looking to capitalise on historically stronger rental market that has seen an increase in yields.
Higher yields and low interest rates create a good market for investors and this has strengthened property values.
The report said entry points into the lower end of the market range from $250,000 to $400,000 and for this amount you can purchase either a basic established residence or build a project home in one of the outlying new developments.
These established homes are in general located within closer proximity to the beach than the new developments. Established homes generally offer better capital growth potential, while the new housing market offers better yields, HTW suggested.
The middle segment of the market is also weakening as there are fewer vendors from the lower market looking to trade up. There is still good demand for well presented and well located properties within this $500,000 to $1 million price range.
"As the market is currently soft in the south west it presents opportunity to upgrade the residence as value for money is very good," said HTW.
The buyer profile usually consists of second and third time home owners or investors from Perth looking for a holiday home.
"Unfortunately, the upper end of the market is considerably slower than the lower and middle market segments," the report suggested. 
"Properties in and above $1 million are selling if they are priced correctly, however extended selling periods of six to 12 months are still common.
"This is a reflection of the limited number of prospective purchasers in this price bracket."
Sale numbers in the prestige market over recent months have reduced, especially with job losses in the mining sector. This has put pressure on the prestige property market as high income earners are taking considerable reductions in wages as they relocate.
HTW noted the south west is considered to be a premium holiday destination given its pristine beaches, surf and world renowned wine region.
Prestigious properties scattered throughout the south west, such as Naturaliste, Eagle Bay, Metricup and Yallingup are still recording sale prices regularly in excess of $1 million.
"There is still demand from the wealthy to invest and holiday in the region," stated the report.
"Overall, it is likely the property market in the south west for the remainder of 2016 will be slow.
"The swings of the Perth market during the last several years have been missed in the regions but we would recommend caution as the slow down in the state resource sector, continued weakness in Perth and general economic uncertainty could promote more of a widespread downturn throughout the market."
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jchancellor-FAypfDUnLy

Bottom end of south west WA market on the move: HTW

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The REIWA has released the top 10 most searched suburbs for sale on reiwa.com in 2016 with Canning Vale, Baldivis and Scarborough rounding out the top three.
Of those 10 suburbs, seven were ranked in the top 10 suburbs for sales activity in the three months to June 2016. Nine featured in the top 20.  All 10 suburbs are ranked in Perth’s top 25 suburbs for sales activity in the June quarter.
Most searched top 10
<ol>
<li>Canning Vale</li>
<li>Baldivis</li>
<li>Scarborough</li>
<li>Perth</li>
<li>Morley</li>
<li>Rockingham</li>
<li>Ellenbrook</li>
<li>Dianella</li>
<li>Byford</li>
<li>Thornlie</li>
</ol>
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jonathanchancellor-7SQnKwU6yx

Perth's 10 most searched suburbs for sale

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After CoreLogic recently reported a median house price of $500,000 in Perth, Property Observer went searching for what that got.
In Redcliffe the median price will secure a three-bedroom, two-bathroom house on <a href="https://www.realestate.com.au/property-house-wa-redcliffe-123149214" target="_blank">Victoria Street</a> (above). The five-year-old house features a double-storey garage and built in wardrobes in all bedrooms. 
In <a href="https://www.realestate.com.au/property-house-wa-two+rocks-123133718" target="_blank">Two Rocks</a> the median price will secure a four-bedroom, two-bathroom house on Madeline Court (below). The house sits on a 814 square metre block and features an in-ground swimming pool. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%205.30.23%20PM.png" alt=""> 
In <a href="https://www.realestate.com.au/property-house-wa-madeley-121913942" target="_blank">Madeley</a> home-buyers can secure a four-bedroom, two-bathroom home on Bryanston Pass built in 2010 (below). The house sits on a 375 square metre block. 
 <img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%205.31.41%20PM.png" alt="">
In <a href="https://www.realestate.com.au/property-house-wa-baldivis-123376682" target="_blank">Baldivis</a> the median price will purchase a five-bedroom, two-bathroom home on Lagoon Pass (below). The new house sits on 564 square metres of land. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%205.33.32%20PM.png" alt="">
In <a href="https://www.realestate.com.au/property-house-wa-waikiki-120886205" target="_blank">Waikiki</a> a six-bedroom, two-bathroom house on Auld Court will set buyers back $500,000 (below). The large property has parking for five cars and 680 square metres of land. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%205.35.50%20PM.png" alt="">
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What the $500,000 median house price gets in Perth

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A $5 billion infrastructure fund and an asset sale strategy announced in the WA Budget has been lauded by the top industry body though it expressed unhappiness with the failure to address the issue of tax reforms. 
”The announcement of a $5 billion infrastructure fund and an expansion of the state asset sale program is essential for the property industry to participate in WA’s economic transition and growth outlook,” Property Council WA executive director Lino Iacomella said. 
“The promised infrastructure fund should also be backed up with a state infrastructure strategy to enable the property investment and development sectors to plan ahead with confidence."
Iacomella added that the council was keen to see the initiatives the infrastructure fund would support, including projects like the Max Light Rail and the federal Smart Cities Plan. 
But the Budget once again missed an opportunity to start tax reform in WA, said Iacomella.
“After three successive years of property tax hikes it is disappointing that the budget has no plan to phase out land tax aggregation, which discriminates against investors that own more than one property. Similarly, this budget does not address the issue of seniors being stung by a hefty stamp duty bill when downsizing or stamp duty equity for off-the-plan property purchases.”
These would help improve housing affordability, promote high quality infill development and boost the economy, said Iacomella.
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WA Budget Infrastructure fund key for property-led growth: Industry body

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The renowned winery and vineyard Salitage estate in WA's Pemberton has been sold for $2.85 million.
The award winning winery was bought by a Western Australia investor.
Located three and a half hour's south of Perth, the 51 hectare landholding comprises a 22 hectare vineyard, predominantly featuring Cabernet Sauvignon, Pinot Noir, Chardonnay and Sauvignon Blanc.
Also on the land is a four bedroom manager's residence, staff accommodation and four two bedroom luxurious self-contained suites.
The property includes a custom-built, state of the art winery over three levels and a cellar door featuring natural timber throughout.
The sale was negotiated by CBRE's Phil Melville and David Kennedy, in conjunction with VNW on behalf of receivers Ferrier Hodgson.
Phil said the sales campaign attracted strong buyer interest from both local and offshore parties.
 
 
 
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jrobinson-rf4aSBido9

Award winning winery Salitage estate sells in WA's Pemberton

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The marketing of Yougawalla Station in Western Australia's Kimberley is set to kick off after a decision by its owners' syndicate headed by media buyer Harold Mitchell and former Seven West Media director Doug Flynn.
The partners have appointed ANZ Banking Group and KPMG Corporate Finance to sell the 1.4 million hectare farm with 44,000 head of cattle with around $70 million tipped. It come with <a href="https://modscape.com.au/projects/kimberley/" target="_blank">Modscape’s sustainable residential designed home</a>.
ANZ's global head of advisory Martin Hanrahan alongside KPMG Corporate Finance partner Sam McClure have the sales task, according to The Australian Financial Review. The Australian suggest $80 million. Harold Mitchell bought Yougawalla in 2008 along with Doug Flynn and the Sale family who expect the Yougawalla sales process will not suffer the same fate at the S.Kidman sale given it does not own land critical to Australia's defence interests. 
Harold Mitchell has criticised Treasurer Scott Morrison's decision to block the sale of Australia's largest cattle property portfolio to foreign buyers calling on local investors to take a greater interest in the country's agricultural sector.
"There are real problems. It shouldn't be handled in this way," he told The Australian Financial Review. 
"We are short on capital and have been for a century and we rely on international co-operation." 
"I am confident that the government would allow us to proceed if the acquirer was a Chinese company or individual," he said.
"[However] they would be concerned if it was a state-owned enterprise but I think that's wrong. The Chinese economy is driven by state-owned enterprises and China is looking out to the world."
Chinese investment firm Genius Link Asset Management is believed to have been the highest bidder for Kidman after rival company Shanghai Pengxin made a $350 million bid for the company. 
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$70 million tipped for Yougawalla Station

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Fossil Downs Station, the jewel of WA's pastoral industry, has been sold by the Henwood family to cattle queen in the making, Gina Rinehart.
Covering almost 400,000 hectares where the Fitzroy and Margaret Rivers meet, the heritage-listed homestead has been dubbed the "<a href="/news/fossil-downs-the-taj-mahal-of-the-kimberleys-listed">Taj Mahal of the Kimberley</a>".
It is located 430 kms to the live cattle export port of Broome and 30 kms to Fitzroy Crossing township. 
Offers closed July 2 for the property with real estate agent Malcolm French telling the West Australian newspaper he had seen nothing that compared to Fossil Downs in 50 years with Elders.
The $30 million sale to miner Gina Rinehart is reported by the paper today, saying interest came from some of the biggest names in the West Australian business world, including Kerry Stokes and Andrew Forrest.
Rinehart's vision for cattle production in the Kimberley through joint venture company Liveringa Station Beef was crucial in winning over Fossil Downs’ owners John and Annette Henwood, who made the gut wrenching decision to sell, ending a family association dating back to 1882.
"I feel an absolute traitor," said <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/radionational/programs/bushtelegraph/annette-mcdonald/5895778" target="_blank">Annette Henwood</a>, who was featured on the farm in a <a href="https://www.propertyobserver.com.au/https://trove.nla.gov.au/ndp/del/page/4389335?zoomLevel=1" target="_blank">1952 Australian Women's Weekly article</a>.
"I never wanted to be the MacDonald who quit," she said.
Last year, Gina Rinehart's company Hancock Prospecting paid around $40 million for a 50 per cent stake in the Liveringa and Nerrima Stations in the Kimberley, hoping to capitalise on Asia's increasing demand for food.
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Gina Rinehart buys Fossil Downs, the WA's pastoral jewel

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Some 6.7% of resold homes across Perth in the March 2015 quarter were sold for less than the previous purchased price.
The compared to 5.5% the previous quarter and 4.4% a year earlier, according the CoreLogic RP Data pain gain report. 
The 6.7% of resales at a loss is the highest for the city since February 2013. 
The East Fremantle and Peppermint Grove council areas recorded no resales at a loss over the quarter while Belmont (1.7%) and Gosnells recorded less than 2% at a loss. 
But the highest proportion of loss-making resales occurred in the Perth (23.8%), Cottesloe (22.2%) and Mandurah (18.6%) council areas. 
<a href="/images/2015/06/23/700_pain7.jpg" target="_blank">Click to enlarge</a>
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Perth, Cottesloe and Mandurah top WA's biggest property sale losers: CoreLogic RP Data

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The Green Building Council of Australia (GBCA) has awarded the first 6 Star Green Star – Communities rating to a residential masterplanned development at Alkimos Beach, north of Perth.
The first stage of the development, to be delivered by Lend Lease and LandCorp, will comprise 2,000 homes over 240 hectares. Upon completion, the master-planned development will cover 710 hectares.
LandCorp chief executive Frank Marra said the company intends to develop Western Australian residences sustainably.
"We encourage innovation and are delighted that our Alkimos Beach project has been recognised by the nation's authority on sustainable buildings and communities and acknowledged as a world leading development with global significance," said Marra.
The <a href="https://www.alkimosbeach.com.au/" target="_blank">Alkimos Beach development</a> was assessed by GBCA according to innovation, design, environmental sustainability, economic and liveability criteria. The result was announced at the Green Cities conference 2015.
Upon completion, the project will have six hectares of conservation reserves and 41 hectares of dune and foreshore reserves. According to LendLease, houses will be at most 800 metres from the local centre and transport links and 200 metres from a park space.
The masterplanned development will also include WiFi in public spaces.
While Lend Lease has been recognised for sustainability measures in its developments previously, these have largely been in single buildings and fitouts, said GBCA chief executive Romilly Madew.
"This 6 Star Green Star rating for a community project sets the bar for world leadership community development and demonstrates a long-term commitment to sustainability at scale," Madew said.
"We applaud the range of initiatives – from education campaigns to financial incentives to technology – that will help the residents of Alkimos Beach embrace more sustainable living."
"The importance of this rating cannot be understated. Lend Lease, LandCorp and the people of Alkimos Beach now have independent proof that this community will deliver economic, social and environmental sustainability. And the industry has proof that 'world leadership' benchmarks in community development are achievable."
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Alkimos Beach gets tick from Green Building Council

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The property woes of the Pilbara region in the wake of a moving mining economy are well known.
As the iron ore industry moves from the construction phase to the operations phase and commodity prices drop, so too have rents and home prices.
The Pilbara's property boom, a few years ago, saw investors chase after the stream of fly-in, fly-out workers that flooded its major mining towns. The promise of a population spike and an undersupply of properties lured in investors after sky-high rental yields.
There's no doubt that there was once money to be made by investors who purchased in the Pilbara's mining towns, but those who bought in at the height of the boom have lost, and lost big.
According to the Western Australian government's latest Pilbara Residential Housing &amp; Land Snapshot, all three major towns ­– Port and South Hedland, Karratha and Newman ­– have recorded rental declines in the December quarter of 2014, for the fifth consecutive quarter in a row.
Click charts to open in a new window:
<a href="/images/2015/02/19/Picture%2052.png" target="_blank"><img src="/images/2015/02/19/Picture%2052.png" alt=""></a>
Home prices aren't faring much better, for those who are hoping to sell and recover some of the declining rental income with capital growth:
<a href="/images/2015/02/19/Picture%2053.png" target="_blank"><img src="/images/2015/02/19/Picture%2053.png" alt=""></a>
In Port Hedland, rental prices have been declining for even longer ­– the last three months of 2014 marked the ninth consecutive quarter of declines. The average advertised rental price peaked in the September quarter of 2014 at $2,544 per week. In the latest quarter, the average was less than half that: $1,153 per week, a seven year-low.
The graph below shows just how volatile rents have been in Port Hedland, compared with the low steady growth of rents in Perth.
<a href="/images/2015/02/19/Picture%2054.png" target="_blank"><img src="/images/2015/02/19/Picture%2054.png" alt=""></a>
Last week, Port and South Hedland real estate agent Barry Walsh of Jan Ford Real Estate told <a href="/expert-insights/buying/port-hedlands-price-plummet-can-it-recover">Property Observer</a> the mining boom peak prices were unsustainable.
"It was totally unsustainable where it was, and now that it's stabilising, it will bottom out, and is in the throes of doing that," said Walsh.
"It was unfortunate that the market went where it did, to unsustainable and disproportionate price levels."
When workers began to exit the region in mid-2012, leaving a surplus of rental properties and driving down rents, investors followed.
The graph below shows the spike in homes on the market, beginning in the first quarter of 2013.
<a href="/images/2015/02/19/Picture%2055.png" target="_blank"><img src="/images/2015/02/19/Picture%2055.png" alt=""></a>
One of the characteristic features of a single-industry town, particularly ones with a large proportion of investor properties in the market and transient workforces, is volatility. Karratha displays a similar pattern to that seen in Port Hedland, with the number of rental properties advertised rising dramatically in mid-2011, mirrored by a steep decline in advertised rents.
<a href="/images/2015/02/19/Picture%2056.png" target="_blank"><img src="/images/2015/02/19/Picture%2056.png" alt=""></a>
That volatility is largely due to the region's transient workforce, which made up a large segment of Karratha's population and housing demand. According to the <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/4102.0Main+Features10April+2013#p4" target="_blank">Australian Bureau of Statistics</a>, Karratha's census night population (the people staying in Karratha on census night) increased from 13,257 in August 2006 to 20,061 in 2011. The "usual residence population", however, was only 16,475 in 2011, up from 11,727 in 2006.
Back-of-the-envelope calculations imply that in 2011, around 18% of the people in Karratha were not usual residents – presumably, many of them were fly-in, fly-out workers.
Karratha's home prices show the same pattern as that seen in Port Hedland, implying a stream of exiting investors – around six months after rents started declining, in early 2011, the number of homes on the market began to climb:
<a href="/images/2015/02/19/Picture%2057.png" target="_blank"><img src="/images/2015/02/19/Picture%2057.png" alt=""></a>
Further inland is Newman, where the amount of rental stock advertised began to increase in late 2012 (see graph below).
<a href="/images/2015/02/19/Picture%2058.png" target="_blank"><img src="/images/2015/02/19/Picture%2058.png" alt=""></a>
The <a href="https://www.realestate.com.au/property-house-wa-newman-409944187" target="_blank">four bedroom Newman home in a planned estate</a> pictured below is currently available to rent. Its asking rent has more than halved in the past year: In March 2014, it was advertised at $2,000 per week. That number gradually eroded over the months, and landlords are now asking for $900 per week.
<img src="/images/2015/02/19/newman.jpg" alt="">
2 Hibiscus Way, Newman
They paid $408,146 for the property in 2012. If it's rented at its current asking price, it will yield 11.5%
Newman's property market displays the volatility characteristic of the region.
<a href="/images/2015/02/19/Picture%2061.png" target="_blank"><img src="/images/2015/02/19/Picture%2061.png" alt=""></a>
Whether the Pilbara's property market has stabilized and bottomed out, or will continue to see declines, remains to be seen.
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