<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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REIWA is seeking to speed up commission payments paid to Western Australian real estate agents selling off the plan properties.
REIWA recently announced that they are lobbying the government to allow agents selling this stock to receive their commissions closer to the point of contract, rather than after the settlement period – which they note is lengthy.
“The commission process for dealing with pre-sales in the multi-residential market is often frustrating,” they noted in a recent email to members.
“Having to wait for months to be properly remunerated for your work is inconvenient and can hamper your business.”
They noted that in Perth, and some regional areas, they’re going through a strong growth period with units and apartments and said that it is “high time the government reviewed this commission anomaly and updated it to reflect contemporary conditions”.
Property Observer understands that there are no specifics around how this would work as of yet and the process is still in the exploratory stage. However, REIWA are planning to meet with the Minister soon.
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jduke-EHk3XBmHkn

REIWA pushing to speed up off the plan sales commissions 

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Fear not, today is not the last chance to buy La Forêt Enchantee, the Margaret River, Western Australia property.
<a href="https://www.realestate.com.au/property-house-wa-margaret+river-117093403" target="_blank">The property has been marketed</a> as an exquisite 3.5 hectare forested estate, boasting Margaret River frontage complete with private helipad.
Established in 1995 behind heritage French iron gates, La Forêt Enchantee is an award winning accommodation location comprising two villas and a manager's residence at Burnside.
Channel 9's travel show <a href="https://getaway.ninemsn.com.au/fsaustraliawa/southcoast/16879/la-foret-enchantee" target="_blank">Getaway featured it in 2000</a> and again in <a href="https://au.news.yahoo.com/thewest/entertainment/a/7685667/foodies-feast-on-our-delights/" target="_blank">2010</a>. 
Its entrance comes with Arc de Triomphe detailed in Venetian stucco. But that's not all as beyond this there's an Italianate balustrade staircase that sweeps through the forest, descending down into the river garden alongside bronze lions, replica statues from the Trevi Fountain in Italy, topiary and urns.
Even looks like there's a unicorn, though maybe it's a white horse.
"This prestigious property provides a lucrative opportunity for those seeking to operate a well-established accommodation brand either as a lifestyle business or as a larger, more commercial concern," the marketing by Travis Coleman at Acton Consolidated North Real Estate says.
"The gardens inspire an enchanting landscape for romantic engagements and fairy tale weddings as well as absolute peace and privacy for the discerning client in search of a secluded and extremely well located, residential address."
But be aware:
"This rare and highly coveted address is listed for sale by expressions of interest for a limited period and will be withdrawn from the market on 31 July 2014."
Well not quite, as the ad now says:
"This rare and highly coveted address is listed for sale by expressions of interest for a limited period and will be withdrawn from the market on 31 August 2014."
Fee Menzies Stirton and Michael Whyte<a href="https://laforetenchantee.com.au" target="_blank"> have been there since 1991</a>.
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jchancellor-FAypfDUnLy

La Forêt Enchantee, the Margaret River, Western Australia retreat offering remains on the market

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Charles Farru-Hill and Robert Lawson have been newly appointed to lead Raine &amp; Horne Commercial Western Australia's property management arm.
Farru-Hill has been appointed to the position of associate director of Facilities and Commercial Property Management. Lawson has been appointed associate director of Commercial Property Management.
Farru-Hill currently chairs the Real Estate Institute of Western Australia's Commercial Real Estate Committee. He has worked for Raine &amp; Horne Commercial for about four years. Of his appointment, Raine &amp; Horne Commercial WA director Terry Menage said:
“Charles has added depth and experience to our growing property management portfolio, as well as providing ancillary facilities management services to the organisation.
“He is one of the few commercial property managers in Perth with the Green Building Council of Australia’s ‘Green Star Professional’ Accreditation, and he consults to commercial building owners and managers Australia-wide.”
Lawson has been with Raine &amp; Horne Commercial WA for a year. According to Menage, he has experience in sales, leasing and management, and he said Lawson's appointment "will bring additional drive and focus to Raine &amp; Horne Commercial WA’s expanding commercial management portfolio.”
“Our two new appointments both have blue-chip commercial property experience that encompasses sales and leasing, as well as significant management expertise,” added Menage.
“Charles and Robert are the ideal candidates to lead our property management team effectively and their experience enables them to provide the very best advice and solutions to our investors and business owners.”
Menage said tenant retention was a priority for the division.
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jrichardson-uRX5hFdKfN

Raine & Horne Commercial expands WA team

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The Real Estate Institute of Western Australia has released new statistics on Perth’s property market, with some interesting conclusions.
REIWA’s president David Airey said that the preliminary market information available looked as though the median house price was down by 1%, bringing the March quarter median to $545,000 from $550,000.
A surge in apartment pre-sales was noted and Landgate’s early data is showing stability in the multi-residential median price at $449,500.
“However, in the REIWA analysis we include off the plan pre-sales that take some time to settle, so our figures indicate the median sale price for units and apartments lifting by 5% in the quarter to around $470,000,” Airey said.
Here’s their round up of what is happening in Perth.
First home buyers
<ul>
<li>Rebound in activity 
</li>
<li>Transfer duty changes on 1 July may have had an effect 
</li>
<li>Strong sales activity in $400,000 to $500,000 range</li>
</ul>
Turnover and stock
<ul>
<li>Sales for Western Australia down 6% over the quarter 
</li>
<li>Landgate estimated 11,900 dwellings transacted 
</li>
<li>Downward trend continuing since March quarter 2013 
</li>
<li>June quarter results will but sales 5% below 15 year average in Perth 
</li>
<li>June quarter results will but sales up to 22% below 15 year average in regional Western Australia 
</li>
<li>Stock on market lifts to 8% to 10,872 properties 
</li>
<li>Land listing jumps 12% to 1,449 lots 
</li>
<li>Increase in listings now up almost 25% since last year</li>
</ul>
“REIWA data show that reported sales dropped across most of Perth, with the central area within 10 kilometres’s of the CBD experiencing the biggest drop of 6%. This contributed to the fall in the overall median due to the softening of sales in the $500,000 to $900,000 range,” said Airey.
“However, the western suburbs saw an increase in activity among homes selling for between $1 million and $1.5 million, while the most notable drop in sales was seen through South Perth and Victoria Park with a slump of 31% in the quarter.”
In the outer regions of Perth the picture was a little more mixed, with an increase in sales seen in the north coastal part of the City of Wanneroo.
Overall, most house price changes remained muted at 1 or 2%. In the City of Canning, 4% growth was seen, while the northern part of Joondalup and southern part of Wanneroo saw 4% falls.
Days on market has remained fairly stable, up just one day to 57 days.
DAYS ON MARKET AND DISCOUNTING
“As a consequence, the number of sellers reducing their asking price grew further to almost half, although the variance between asking prices and selling prices tightened a little to just over 5% in favour of the buyer,” Airey said.
And yet it’s the rental accommodation market that has seen the most changes and is worthy of a closer look.
Rental market
<ul>
<li>The vacancy rate has increased to 4.2% 
</li>
<li>Median rent drops $10 to $450 per week 
</li>
<li>Number of rental listings grew by 858 properties over the quarter to 5,824 total</li>
</ul>
“This is a significant increase of 43% on the same time last year, while more current REIWA data shows this has since grown further to more than 6,000 properties by the middle of July,” said Airey.
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Perth update: Prices, first time buyers and rental market

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Western Australia’s Onslow will see the first large scale residential land sale release in the area in 20 years, with local residents to be given preferential first dibs to the property.
The plan is to evolve the Pilbara town by bringing locals into the new Barrarda Estate, explained Lands Minister Terry Redman.
“Unprecedented demand for new housing due to increased resource industry activity around <a href="/news">Onslow </a>makes this land release crucial,” Redman said.
Onslow’s current population is just 700, with a total 3,300 residents expected over the next eight years due to increased oil and gas activities. This includes Chevron’s Wheatstone Project.
“Property prices have escalated dramatically in Onslow in recent years with land in short supply until now.”
This is a pre-release that will see locals buying off the plan before the titles are issued next year.
Locals who reside in employee housing or who do not own a house in Onslow will be able to buy.
“Applicants will be required to have lived, been employed or owned a business in the town for the previous 12 months,” he said.
Landcorp’s Barrarda Estate’s stages 1A and 1B are being released, including 86 single lots of which 44 are house and land packages, with builders including Fleetwood Pty Ltd, McGrath Homes, DA Burke Builders, BGC Modular and Megara.
General public sales will be later this year, with interest able to be registered from now.
Following the local release, sales to the general public will be available later this year. Interested parties are <a href="https://www.landcorp.com.au/Residential/Onslow/Land-for-sale/" target="_blank">encouraged to register their interest now</a>.
Lot prices start at $230,000 with sizes spanning from 390 square metres to 774 square metres.
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Onslow, WA locals given first dibs to residential lots as resource activity grows

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In what is potentially many an investors' childhood dream, a Dunsborough theme park investment freehold property opportunity has hit the market.
A high level of interest expected, according to exclusive sales agents CBRE’s Ryan McGinnity and David Kennedy, who note that it is offered with a long-term lease.
The Xscape at the Cape Fun Park is on Caves Road, and includes an 18-hole mini golf cause, water slides, a Mine Shaft Maze and an ice-creamery.
Owner and operator, Douglas Campbell, is selling the property to further invest in his growing theme park business – also being the operator of Mirrabooka’s Action Park and Hillary Boat Harbour’s The Greast Escape.
“Xscape at the Cape is outstanding opportunity for those looking for a long term secure investment,” McGinnity said.
“Mr Campbell’s experience in the theme park sector, and his willingness to take a long term lease of the property, means the investment is secured by one of Australia’s best operators.”
The site also includes a kids train, a Jump N Tramp, the bouncy castle Tiki Island and state of the art playground Jungle Mountain.
The site is being offered by private treaty.
“Set on over a hectare of land, this property represents an outstanding investment opportunity, with a net rental of $160,000 per annum and initial 15-year lease with two 10 year options,” said Kennedy.
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Western Australia theme park up for sale, with long-term lease

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Quest Serviced Apartments is more than doubling its room numbers in Western Australia over the next two years. 
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<div>Three of the properties are located in central <a href="/news">Perth</a> on Adelaide Terrace, Kings Park Road and Mounts Bay Road, in response to increasing demand from a thriving corporate sector.
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<div>The other two properties are located on Flinders Lane in <a href="/news">Rockingham </a>and the corner of Pakenham and Short Streets in <a href="/news">Fremantle</a>. 
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Providing accommodation to around 30,000 business travellers annually, Quest currently operates nine properties in WA at <a href="/news">Bunbury</a>, Harbour Village, <a href="/news">Mandurah</a>, on James, <a href="/news">Rheola</a>, <a href="/news">Scarborough</a>, <a href="/news">South Perth</a>, <a href="/news">West End</a> and <a href="/news">Kalgoorlie</a>.
When doors open on the five new properties, Quest will offer a total of 871 rooms across the state, anticipating hosting more than 60 thousand extended-stay business travellers each year – a 128% increase on the existing number.
All five properties have received development approval with construction commenced on all except Fremantle and Adelaide Terrace, both of which are expected to see works start in the next month.
Quest chief Zed Sanjana said Perth had leading occupancy rates with high room yield growth.
“The demand in the West is being primarily driven by the corporate market and we feel the time is right to capitalise on these strong economic indicators and push our growth, with five new developments underway to more than double our current room numbers.”
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Quest shows confidence in Perth with plans to double room numbers in state

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A recent poll of 6,000 folk in WA said they could experience mortgage stress if interest rates are ratcheted back up, with housing stress defined as spending more than one third of disposable income on a mortgage.
Usually one might treat such surveys with caution, but a look at data for WA over recent years does seem to back the point up to a certain extent.
Retail turnover, for example, went on a blazing run for half a decade from early 2008, but perhaps consumers are now 'tapped out', with WA retail sales growth having tapered off since late 2012 on a seasonally adjusted basis:
<img src="https://1.bp.blogspot.com/-WPy4jftppA0/U6lXKZYJyTI/AAAAAAAAODI/U_y1qb-Na1Y/s1600/WA.jpg">
Perth's property markets have been on a very strong  run over the past dozen years, and after a prolonged lull which broadly ran from 2009 to 2012, dwelling prices in many areas saw another 10% price uplift in 2013:
<img src="https://4.bp.blogspot.com/-leRz10fqeBU/U6lkfevZ3XI/AAAAAAAAOEQ/DPoVp8eOeSk/s1600/11+year+prices.jpg">
Western Australia is now in transition mode as the mining construction boom passes its peak and the less labour intensive production phase of the mining boom kicks in.
It's important to note that in the short term this is likely to result in an uptick in unemployment and a slowing of the economy, which is one of the reasons why our 2014 forecasts were only for a far more moderate 0% to 3% growth, which essentially looks to be about on track at this juncture:
<img src="https://4.bp.blogspot.com/-Yx1uPLpOLEo/U6lXRLmlWXI/AAAAAAAAODQ/mlPbLaVk2zo/s1600/Perth.jpg">
It's worth noting that some of the data reported to date needs putting in perspective.
While the state population growth of +71,300 in 2013 represented a significant slowdown from an romping annualised pace of 3.7% to 2.9% in Q4, this is still by far and away the strongest population growth rate of any state, even though the larger states recorded higher absolute population growth numbers:
<img src="https://2.bp.blogspot.com/-vABYA1a-56M/U6laOIp5jJI/AAAAAAAAODk/L-M9YAl-LYU/s1600/Population.jpg">
Similarly, while the unemployment rate has ticked up from its pre-crisis lows, the unemployment rate is still only 5%, which is comfortably the lowest rate of any state, and a world apart from the southern states of Tasmania and South Australia where unemployment rates are flirting with a 7% level or higher:
<img src="https://4.bp.blogspot.com/-qakZ_6v1Occ/U6lkD8xMonI/AAAAAAAAOEA/8baFNVl-0iY/s1600/UEby+state.jpg">
Jobs growth in WA has tapered off too of late, but the past decade has been an undeniably strong one in WA:
<img src="https://3.bp.blogspot.com/-yEuaK3IhBnc/U6lkEGbqLoI/AAAAAAAAOEE/I5Xq5W7RvJg/s1600/WAjobs.jpg">
Mining boom over or changing?
When commentators saw that the "mining boom is over", what they are really referring to is that the mining construction boom of the past decade has now passed its peak and will start to decline, representing a drag on economic growth.
Refer to the national figures for engineering construction below:
<img src="https://3.bp.blogspot.com/-ZQDm9Ohq790/U6n_cBNmdhI/AAAAAAAAOEw/hPGAhgm3XRo/s1600/CWD.jpg">
Mining boom over or changing?
When commentators saw that the "mining boom is over", what they are really referring to is that the mining construction boom of the past decade has now passed its peak and will start to decline, representing a drag on economic growth.
Refer to the natClearly, however, the whole point of constructing resources projects is to bring reserves to production, and in this sense, the mining commodity exports boom is only in its infancy, with exports to China in particular accelerating by the month.onal figures for engineering construction below:
<img src="https://www.rba.gov.au/chart-pack/images/16-17-balance-payments/16tr-bcomx-small.gif?accessed=2014-06-24-20-45-07" alt="Bulk Commodity Exports graph">
Take a look at what's happening in WA's Pilbara region for example.
Iron ore cargo shipped out by the Port Hedland Port Authority (PHPA) in the month of May totaled an extraordinary 36.05 Mt (million tonnes), a whopping 30% increase in volumes on the May 2013 figure, with some 85% of that cargo bound for China or Taiwan, and Korea and Japan mopping up the rest:
<img src="https://4.bp.blogspot.com/-IngIN3j-joE/U6lhHYbvm1I/AAAAAAAAOD0/EXb798ksuYk/s1600/PHPA.jpg">
It was announced recently that on Saturday 7 June 2014 the PHPA shipped out an extraordinary 1,270,271 tonnes of iron ore on only a single tide, crunching the previous record set in April by a whopping 160,000 tonnes.
The last time I checked there are two tides in day, you can see how this could potentially comfortably equate to new monthly and annual throughput records in June when the data are reported in a week's time.
Summary
Western Australia will continue to be Australia's exporting powerhouse in the decade to come.
Clearly, however, there will be a very strong level of interest in how the Chinese economy continues to fare, since it is China's demand for iron ore in particular which is driving the boom (although Port Hedland, for example, also exports salt, copper concentrate and manganese ore to China and Taiwan).
The key data to watch for WA will be the presently low unemployment rate and where that peaks, and the all-important Labour Force figures which are released monthly by the Australian Bureau of Statistics.
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Western Australia: A state in transition

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The Australian Competition and Consumer Commission has raised concerns over supermarket giant Coles’ proposed bid to buy four Progressive Supa IGA stores in Western Australia.
While Coles has recently been under <a href="https://www.smartcompany.com.au/legal/42614-coles-categorically-denies-bullying-suppliers" target="_blank">scrutiny over allegations it has used its market power to bully suppliers</a>, the company is looking to further expand its market share in the west with the acquisition.
The stores, which are located in the Perth suburb of Dianella and the regional towns of Busselton, Halls Head and Bunbury, are not located close to any other Supa IGA stores in at least three of the four local markets.
While the supermarket duopoly is widely recognised across Australia, the Western Australian market also has to deal with the absence of players such as Aldi, Foodworks and 7-Eleven.
The ACCC said in a <a href="https://www.accc.gov.au/media-release/accc-calls-for-comment-on-proposed-acquisition-of-supa-iga-stores-in-wa-by-coles" target="_blank">statement</a> its preliminary view is that the proposed acquisition may result in a substantial lessening of competition.
ACCC Commissioner Dr Jill Walker said market participants had expressed concerns about losing the differentiated offering of their local Progressive Supa IGA stores.
“The ACCC considers that the differentiated offer of the Supa IGA stores reflects a competitive response to rival supermarkets and provides additional choice to consumers,” said Walker.
“The ACCC is also concerned that the proposed acquisition would remove access to Supa IGA promotions for shoppers in these areas.”
According to the ACCC’s issues paper, the newly acquired stores would be within a few hundred meters of existing Coles stores. 
A Coles spokesperson told SmartCompany the supermarket major is considering the issues raised by the ACCC.
John Cummings, president of the WA Independent Grocers Association, told SmartCompany that while the grocery market in WA is still one third Coles, one third Woolworths and one third independents, 30 years ago independent grocers enjoyed a 54% market share.
“What’s happened is over a period of time Coles and Woolworths have acquired independent stores and increased their market share,” says Cummings.
“I think only two stores have gone broke, the rest were bought by Coles and Woolworths.”
Cummings says the WA Independent Grocers Association has long been opposed to these “creeping acquisitions” which eliminate competitive power from the independents left standing.
According to Cummings, if the Busselton acquisition goes ahead, there will be two Coles stores within about 200m of each other, while there would be a difference of about 500m between the two Coles stores in Bunbury.
In Dianella, Cummings says there will be around 15 Coles and Woolworths supermarkets within a 3-5 kilometre radius.
“I mean, there’s got to be huge competition issues,” says Cummings.
Cummings also says small WA suppliers will be affected by the acquisition, as their deals with IGA stores are terminated.
“A lot of local suppliers will be put off the shelf. You have to be a national supplier to be stocked at Woolworths or Coles,” he says.
Cummings says while Coles will likely pay more than the going market rate to secure the IGAs, due to its market power, it is in a position to potentially lose money on the stores – a luxury which an independent grocer doesn’t have.
“That’s why we have the ACCC to maintain competition laws,” says Cummings. “The ACCC are saying [to Coles], this isn’t going to be as easy as you thought it was.”
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Coles’ bid to buy Supa IGA stores increases concerns over supermarket duopoly in WA

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Real estate would be a delight for investors, were it not for the real estate “industry”.
There are times when the industry appears to exist only to mislead consumers into taking action not in their best interests.
Consumers’ best interests are subverted by industry vested interests.
There are myriad examples. Here’s one. There’s a company that makes it money marketing property in specific locations. But the principal markets himself as a mentor. Someone who guides investors on how to buy the best properties in the best locations.
A recent promo advised consumers on the best places to buy for high yields. By the purest of coincidences, the “top three picks” in Australia to buy for positive cash-flow were all places where the company is marketing product.
They included the company’s specialty area, the Pilbara region of Western Australia. South Hedland and Karratha were recommended as the best places in the nation to buy.
Here’s the pitch from the “mentor”:
“I’m a big believer in investing for cash flow and I’m always keeping an eye on which locations around the country are performing well in this area. Knowing how to locate these is vital if you want to find positive cash flow properties in Australia.
“I have some great strategies for how to locate high yield investment properties, but for now I want to share with you my top three property picks.
“There are plenty of towns where investors are achieving higher yields than those that I suggest. However, I have greater confidence in the long term outlook for the ones I’ve featured in my blog.”
He then suggests areas in which his company is a major marketer of off the plan apartments and other properties.
Here’s the reality for Port Hedland/South Hedland and Karratha. Both markets are in decline but remain outrageously overpriced.
The median house price for <a href="/news">Port Hedland</a> was $1.2 million, but has dropped 17% in 12 months and is now down to $970,000 - still way too high for investors to consider.
Rents have declined a lot so, despite the price drop, yields are typically 8%. In the boom times they were commonly 12%. Vacancies have been around 6% since late in 2012 and this market is still falling, with discounting of about 11%, according to Australian Property Monitors.
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Here’s the reality for Port Hedland/South Hedland and Karratha. Both markets are in decline but remain outrageously overpriced.
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Nearby South Hedland is also in rapid decline, with the median house price down 6% and the median unit price down 14% in the past year. The marketing company says yields from 9% to 12% are typical, but APM says the median yields is 7.8% for houses and 7.5% for units. It takes six months to sell on average, with discounting around 12%.
It’s even uglier in <a href="/news">Karratha</a>, with price decline steeper, yields lower, discounting higher and time on market longer.
In the Karratha suburb of <a href="/news">Nickol</a>, the median house price has dropped 17% in 12 months. That includes 5% in the most recent quarter, so the market is still falling. The last time there was any price growth was 2010, with the market sagging an average 12% per year for the past three years.
Discounting is around 13% and it takes five months to sell the average Nickol property. In nearby <a href="/news">Pegs Creek</a>, it takes seven months to sell.
Typical yields are claimed by the marketing company to be 8-10%, but APM indicates 6-7%, amid 6% vacancies.
Keep in mind that the mentor says these are not just good places to buy, but the best places to buy in Australia. Mentors like this you don’t need.
To provide a further feel for how this organisation pitches to consumers, here’s what is claimed to be a testimonial from a “seminar attendee” …
“I spent an evening at (name of presenter)’s seminar and all I have to say is: this guy delivers. It was a supersonic combo of strategic investment insights and wealth-building how-to’s from people who walk the talk. Incredible speakers, killer content and amazing connections, all brought together in one jam-packed evening. They clearly have a talent for creating a valuable, education, high-energy experience.”
The chances of a genuine customer writing such a tribute are zero. A “supersonic combo”? Who talks like that?
You will note they claimed it came from a “seminar attendee”, which was probably a team member or possibly the seminar presenter himself. Technically, it’s not untrue.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>.
Image courtesy of Wikimedia Commons.
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