New $1.3 Gold Coast Development

Ranging in height between 10 and 12-storeys, the four towers will offer one, two and three-bedroom apartments overlooking the newly-named “Lake Unity” and ground level retail.

Each building captures lakefront, city skyline and hinterland views.

ASX-listed developer Sunland has lodged revised plans for four residential towers at its $1.3 billion masterplan on the Gold Coast.

The 42-hectare former dairy farm is set to be redeveloped into an urban village — “The Lanes” — delivering 17,000sq m of new retail space, a boulevard, outdoor amphitheatre and four residential towers.

The revised scheme removes plans for four permit-approved commercial buildings and increases the number of apartments from 298 to 310. Sunland initially lodged an application for the project in late 2018. 

The end value of the four residential towers is $231 million.

The developer has appointed ex-Zaha Hadid designer Contreras Earl to design the four mid-rise towers, which are strikingly similar to the built form of its “champagne flute” skyscrapers in Brisbane.

“The [towers] represent a sculptural design language which takes its inspiration from the patterns and geometry found in various plant life,” Sunland managing director Sahba Abedian told The Urban Developer

“This is where any similarity to our previous design concepts ends.”

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Ripley Town Centre - New city -$1.5bn Plans for Ripley Town Centre

Japanese-backed developer Sekisui House has revealed its $1.5 billion masterplan vision for Ripley Town Centre in heart of Brisbane’s rapidly growing western corridor.

Ripley Valley, declared a priority development area in October 2010, covers a total area of 4,680ha southwest of the Ipswich CBD.

Sekisui's 40ha masterplan for Ripley Town Centre, the only designated major retail and commercial hub earmarked for the Ripley Valley region, will pre-empt projected growth of the region — approximately 133,000 new residents by 2036.

Tokyo-listed Sekisui House, which is known for its Sydney CBD Central Park mixed-use project with Frasers Property and West Village project in Brisbane's West End, is one of Japan’s largest homebuilders with total projects within Australia valued at over $18 billion.

Brisbane house price hits new record high: What‘s your home now worth?

JUST when you thought the housing market was going backwards, new figures reveal Brisbane house prices have hit a new record high.

The latest Real Estate Institute of Queensland Market Monitor, released today, shows the annual median house price within the city’s local government area rose 1.5 per cent in the 12 months to the end of March to reach a new high of $680,000.

The Brisbane LGA median house price has jumped 27.3 per cent since December 2013, when it was $535,000.

The top suburb for house price growth in the Brisbane local government area over the 12 month period was Auchenflower in the city’s inner west, which recorded a whopping 23 per cent increase in its median house price.

Northgate, Gordon Park, Hamilton and Clayfield in the inner north also experienced strong house price growth of between 11 per cent and 13.3 per cent.

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Australian Suburbs Where Property Prices Have Trebled - Builder Brokers

New analysis from research firm Propertyology has plotted two decades of property price movements with several years of very strong gains staring around 2012 pushing property prices and propelling homeowners in a number of Australian suburbs. 

Analysts observed more than 180 Australian towns and cities, with a population of 10,000 people or more, over the 20-years ending December 2018.

“Whether someone purchased real estate in any of our eight capital cities twenty years ago or in a majority of Australia’s non-capital locations, today it’s worth at least three times what you paid for it,” Propertyology head of research Simon Pressley said.

“I don’t know about anyone else, but an average annual capital growth rate of circa six per cent across 20 years sounds damn good to me, especially at a time when Australia’s two largest cities have dropped 10 per cent in value in the past 12 months.”

Median house prices in Sydney two decades ago were among the most expensive in the country at about $220,000. Sydney's median house price is now just under $870,000.

“Anyone who bought in a major regional location back then would have paid a fraction of that price and achieved a similar growth rate over the same period,” Pressley said.

Analysts found that median house price of 103 regional cities and towns trebled in price over the past 20 years.

“The research clearly shows that regional real estate has just as much potential as capital cities, which is why smart investors make an objective assessment of every location in Australia before buying.”

According to Propertyology, Australia’s most expensive city to purchase a house is now Byron Bay in northern New South Wales, with its median house price increasing by a whopping 64 per cent over the past five calendar years.

A recent nationwide analysis showed the median Byron house price was more than $987,500, putting it ahead of Sydney, at $950,000, while Melbourne ranks sixth at about $772,000.

“Generally speaking, locations with a more affordable median house price have more upside potential for capital growth. For that potential to be realised, the real skill is being able to identify the locations with positive leading economic indicators,” Pressley said.

Brisbane Land Sub-division development purchase

Diversified property group CFMG Capital has purchased three parcels of land across Queensland and Victoria as it builds its development pipeline across the two states. 

The acquisition, with plans to deliver up to 200 lots, are located in the Brisbane and Logan suburbs of Rochedale and Park Ridge, and Wollert in Melbourne's north. 

CFMG Capital general manager Andrew Thomson said the three sites, secured for more than $15 million, offered proximity to infrastructure and services, and buyer demand for quality affordable projects in key growth corridors.

“It can be a challenge finding quality land close to metropolitan centres so these acquisitions are a huge boost for property buyers in both the south-east Queensland and Melbourne markets,” Thomson said.

Related: Developers, Government and Council Ink $1.2bn Infrastructure Deal

The acquisitions add to a CFMG’s portfolio that includes Lomandra Park at Bridgeman Downs, Elevate at Ormeau Hills, Creeks Edge and Oakland Pocket at Morayfield, Middleton Park at Logan Reserve and Solander at Park Ridge.

The Park Ridge site, snapped up for more than $5 million, spans 4.94 hectares and has development approval that will see 89 lots. 

The property investment company will develop 15 lots with an average size of 439sq metres in Rochedale, located 17-kilometres from Brisbane’s CBD, after acquiring 1.33 hectares of land for $3.375 million.

CFMG has also lodged a development application for 83 lots at Epping Rd in Wollert, a suburb popular with older couples and independents located 26 kilometres from Melbourne CBD, which will be known as Acacia Village, securing the 5.86-hectare site for $6.8 million.

“The future of transport is coming to Melbourne and we’re ready to make it happen,” Victorian treasurer Tim Pallas said on Wednesday.

In less than five years, Melburnians will be able to book and share a 10-minute trip from the CBD to Melbourne airport courtesy of Uber Air’s flying car fleet. 

The ridesharing giant has announced that Melbourne has been selected as the third official pilot city, joining Dallas and Los Angeles as test cities for the Uber Air program.

The prototype — not quite a helicopter or a plane — is set to become a familiar site in Melbourne from next year as the company launches test flights from next year ahead of commercial operations from 2023. 

Uber cited the Victorian government’s forward-looking approach and Australia’s “wholehearted” embrace of the ridesharing app as reasons for its choice. Melbourne was chosen over shortlisted cities Paris, Sao Paolo, Mumbai, Tokyo and Sydney after an 18-month selection process.

While it all sounds a little futuristic, Uber’s plans are concrete: the company has announced partnerships with Macquarie, Telstra, Scentre Group and the Melbourne Airport to fast track the infrastructure and aviation network required to run Uber Air.

“The future of transport is coming to Melbourne and we’re ready to make it happen,” Victorian treasurer Tim Pallas said on Wednesday.

Market More Positive About House Prices Than Not: Survey

Australian buyers remain enduringly positive about the residential housing market, despite the current downturn surpassing the previous nine, with price expectations over the next 12 months set to remain “net positive”. 

ME Bank’s new quarterly property sentiment survey, conducted prior to the federal election, reveals that 35 per cent of respondents are positive about the property market, 37 per cent remain “neutral”, and 28 per cent negative.

“Positivity among investors and younger groups suggested some people were seeing price falls as an opportunity to buy,” ME’s home loans general manager Andrew Bartolo said.

“[And] negativity was lower than might have been expected for a market that’s fallen dramatically in Australia’s key property markets over the last 12 months.” 

Bartolo says the standout finding from the survey is that 88 per cent of Australians are concerned with housing affordability.

“People often forget house prices doubled in recent years, so falls of 10 per cent to 15 per cent won’t do much to improve affordability over the long-term.”

Tighter credit policies and reporting requirements followed, with 68 per cent expressing concerns over the issue — but that may change “given the recent APRA announcement on serviceability” Bartolo said.

Plans Revealed for Melbourne’s Tallest Timber Tower

Diversified property major GPT Group has unveiled plans to build Australia’s largest timber building that will sit atop Melbourne Central mall at 300 Lonsdale Street.

The new 10-storey building will be a 19,400sq m tower comprising a frame structure that will be exposed through a glass facade and made of cross laminated timber, a lightweight factory manufactured material used in innovative timber structures.

The office extension, known as Frame, Melbourne's first premium office tower to use timber will sit among rivalling towers being currently built by Mirvac, Dexus and Charter Hall in the city's central business district.

Timber construction has taken off around the country featuring in a new wave of new buildings, including Tzannes-designed International House Sydney in Barangaroo being built by Lendlease and Bates Smart's CLT tower at 25 King Street in Brisbane's Fortitude Valley.

Engineered timber offers weight, design and sustainability advantages, helping speed up construction and reduce waste, making it a highly popular and strategic option for commercial real estate design.

Australian House Prices ‘Close to the Bottom’: AMP

The past few weeks have seen a number of developments that suggest property prices could bottom earlier and higher than has been widely expected. 

The election outcome removed a key threat explains AMP Capital's chief economist Shane Oliver, along with several other factors “that also help”. 

“The combination of the removal of the threat to property tax concessions, earlier interest rate cuts, financial help for first home buyers and APRA relaxing its 7 per cent interest rate test, points to house prices bottoming earlier and higher than we have been expecting,” Oliver said.

“As a result, we now expect capital city average house prices to have a top to bottom fall of 12 per cent, of which they have already done 10 per cent, rather than 15 per cent and to bottom later this year.

“However, given still high house prices and poor affordability, still very high debt levels, tighter lending standards, and rising unemployment a quick return to boom-time conditions is most unlikely,” Oliver added.

This week the RBA signalled that rate cuts could be on the way after governor Philip Lowe's comments “at our meeting in two weeks’ time, we will consider the case for lower interest rates” as a measure to prevent unemployment rising. 

As a result, Oliver says AMP Capital expects 0.25 per cent rate cuts in June and August.

“And that the bulk of these will be passed on to borrowers given the recent reduction in bank funding costs,” Oliver said.

Aged Care Village at Brisbane's, Indooroopilly Golf Club Gets Green Light

Indooroopilly Golf Club submitted the application — flagged by DA tool CityShape — in conjunction with Aura to develop the 25,342sq m Meiers Road site.

Alongside its strategic partner Singaporean investment group SC Capital Partners Group and planner Urbis, Aura has been working to develop a prime parcel of land in Brisbane's Indooroopilly. 

Indooroopilly Golf Club will lease 1.9 per cent of its 128-hectare riverfront site to retirement centre operator Aura for 60 years, with a 60-year option.

Sunshine Coast’s New CBD Set to Benefit from Major Investment

Business confidence on Queensland’s Sunshine Coast continues to increase with almost 90 per cent of commercial operators expected to maintain or increase staffing levels this year.

With a number of major infrastructure projects either planned or under way, the region’s gross regional product is expected to soar from $16 billion to $33 billion by 2033, triggering a boost to employment and household incomes.

The new Maroochydore City Centre which is currently under construction, is in the box seat to capitalise on the region’s strengthening commercial sector. 

SunCentral Maroochydore chief executive John Knaggs, who is overseeing the design and delivery of the CBD, said the new city centre was in the heart of the Sunshine Coast — one of the largest regional economies in Australia.

The 53-hectare greenfield site in the centre of Maroochydore is one of the largest urban regeneration projects in the country with a former golf course being transformed into a CBD for the future.

Brisbane Metro to Reshape Adelaide Street

Brisbane Metro to Reshape Adelaide Street

Brisbane City Council has released its plan to transform one of the cities vital public transport corridors into a new transit boulevard, including an underground tunnel entry for Brisbane Metro.

Adelaide Street in Brisbane’s CBD will now be transformed in order to declutter the existing infrastructure and provide a revised vision for a walkable, tree-lined boulevard, weaving together retail and key civic spaces with world-class public transport access. 

The recently released Draft Adelaide Street Vision has outlined council’s plan to adapt the century-old transit corridor to meet changing community needs.

Visitation to Brisbane is marked to increase by around 30 per cent by 2020, and infrastructure to support and service the high-frequency Metro vehicles will be an initial focus.

The $944 million Brisbane Metro is a key driver for the new direction, with the project delivering a new tunnel under Adelaide Street to link North Quay to the King George Square Bus Station.

Pedestrian movement will also be prioritised with widened footpaths, build-outs and improved street crossings.

Clark Lane will also be activated with the addition of an adjoining pocket park with an outdoor gallery and creative lighting as well as enhancements to Hutton Lane to improve connectivity to Central Station.

Lord mayor Adrian Schrinner said the Draft Adelaide Street Vision outlined Council’s plan to adapt Adelaide Street to increase safety and transport accessibility.

“As our city experiences increased pedestrian and public transport activity, we want to transform this corridor into a world-class transit boulevard,” lord mayor Adrian Schrinner said.

“We're going to make sure that is a world-class arrival experience in Adelaide Street and a much more pleasant environment, a safer environment, for pedestrians as well.”

Adelaide Street, one of four key city boulevards that is both pedestrian and transit-oriented within Brisbane's CBD, was originally sounded out for its development potential in the City Centre Master Plan 2014.

“We need to plan a desirable entry point into the heart of the city ahead of the high-frequency Brisbane Metro, which is expected to increase passenger numbers to King George Square by 120 per cent,” Schrinner said.

Council is currently evaluating expressions of interest from five consortia to build the inner city infrastructure for the Metro before releasing a short-list to commence the tender proposal phase later this year.

The Brisbane Metro will stretch 21 kilometres, from Eight Mile Plains to Roma Street Station, and from the Royal Brisbane and Women’s Hospital to UQ Lakes busway station.

Out of the project’s budget, $196 million has been set aside for the depot, fleet and systems, $557 million for infrastructure and project management and delivery costs $189 million.

The Brisbane Metro’s station at South Brisbane’s Cultural Centrewill cost $315 million, about a third of the metro’s budget.

The route will also close Victoria Bridge to vehicles, reconfiguring the number of metro and bus lanes from four to three, and includes the dedicated off-road cyclist and pedestrian path.

Brisbane residents can provide feedback on the draft Adelaide Street vision until 24 June, after which the council will begin working on the vision coinciding with Brisbane Metro's construction timeline.

BANKS cutting interest rates, RBA expected to drop cash rate

The major bank has joined several lenders in cutting its mortgage rates in anticipation of a monetary policy adjustment.

NAB, BOQ, BankSA, and Greater Bank are the latest lenders to drop their fixed mortgage rates following a move from ING earlier this week.


NAB has reduced its two-year standard owner-occupied P&I fixed rate on its NAB Tailored Home Loan (Choice Package) by 20 basis points to 3.59 per cent (4.93 per cent comparison rate).

The big four bank has also cut its two-year first home buyer fixed rate by 20 basis points, down from 3.69 per cent to 3.49 per cent.

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SE QLD - Developers, Government and Council Ink $1.2bn Infrastructure Deal

A $1.2 billion deal to secure the infrastructure needs of two priority development areas over the next 45 years has been made between Queensland government and Logan City council

The deal will ensure necessary funding towards local roads, water and sewerage facilities for the two development areas Yarrabilba and Greater Flagstone, both located roughly within a 55-kilometre distance from Brisbane CBD.

The nine developers include Lendlease, Villa World, Mirvac, Peet, Pioneer-Fortune, Celestino, Pacific International, New Beith and Gittins.

The two areas are slated to deliver a substantial portion of new housing in south-east Queensland over the next three-to-four decades.

Aria Signals Confidence in Apartment Market with 20-Storey Tower

Aria Signals Confidence in Apartment Market with 20-Storey Tower

Bullish Brisbane developer Aria Property Group has lodged its second residential development application within a month, in a sign of confidence for the Brisbane apartment market. 

Aria has lodged a proposal for an ambitious 128-apartment mixed-use tower at 66 Hope Street with the Brisbane City Council. 

The developer has tapped architecture firm Koichi Takada to design the tower, which is located on the doorstep of Brisbane’s cultural and performing arts precinct. 

In a tentative lending market, the developer has tailored the offering to owner-occupiers, with three- and four-bedroom apartments, an open-air rooftop and “more than ten times” the communal open space requirement. 

Aria development director Michael Hurley said Brisbane had experienced a flight to quality as the market weakened.

“If you compete on price you are going to be doing some pretty bad stuff, but if you are focusing on quality, that will allow you to stand out,” Hurley said.

Brisbane Underground Transport big spend

New $250m Underground Plans for Roma Street

Brisbane's Roma Street busway station will be dug underground and integrated with the new Cross River Rail platforms, in a $250 million plan announced on Friday.

While a new underground train station was already promised for the Roma Street site, deputy Premier Jackie Trad unveiled plans that the 650-metre long busway would also be moved below, to be located directly under the Roma Street station plaza.

Despite no federal funding for $5.4 billion Cross River Rail project, Trad said the new underground busway would be delivered as an additional transport infrastructure project, funded by Transport and Main Roads. 

“The underground interchange for the Inner Northern Busway to the Cross River Rail Project will support 480 jobs,” Trad said.

Buying in the Brisbane Real Estate market.

Buying in the Brisbane Real Estate market.

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Using a Builder Broker, great article to read.

Using a Builder Broker, great article to read.

Builder Brokers may be just the answer, and are a service that has evolved to take care of these practical aspects of the process for their clients. Besides the obvious time savings you also get the brokers experience, expert advice as well as potential savings that they have negotiated with the builder.

There is no better time to build or renovate in Queensland!

There is no better time to build or renovate in Queensland!

The Sunshine State powers on as suburbs record strong growth across the board, led by the southeast region.

  For buyers looking to get a slice of the Sunshine State’s market, Southeast Queensland continues to be the location of choice.

“In Q3 2017, the Gold Coast recorded 139 surveyed sales, and 12 months later this has more than doubled with 298 recorded, with owner-occupiers being the highlight” says Clinton Ostwald, national director at Urbis. 

Thankfully here in Brisbane, its affordability as a capital city compared to Sydney and Melbourne help stimulate and secure demand.

“You can come by Queensland – be it Sunshine Coast, Brisbane or Gold Coast – and buy two brand new houses for the same price as what you’d get for one rundown flat in Sydney. That’s made purchasing and sell-through rates quite strong,” says Damien Lee, head of acquisitions at Caifu Property.

According to the Queensland Market Monitor – there has been strong growth state wide with close to 70 suburbs logging double-digit growth in the 12 months to June 2018.

Antonia Mercorella, CEO of the Real Estate Institute of Queensland confirms “It is a really strong result, and [Queensland] is a great market to be in at the moment. There are many more suburbs delivering strong single-digit growth,” These findings also show that, while the southeast pocket is the place to watch, it is not the only grower in the state – central and northern Queensland have been making their mark too.

Suburbs outside of Brisbane that recorded more than 20% annual price growth were Minyama on the Sunshine Coast, Hollywell on the Gold Coast, Spring Mountain in Ipswich, Dundowran Beach on Fraser Coast, Boonah on the Scenic Rim and Idalia in Townsville. Mercorella also indicates that “This spread of suburbs is a good indication that Queensland real estate is delivering steady, sustainable growth across the board. We’re seeing growth outside the southeast corner,”

Exciting times ahead for South East Queensland in 2019.

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