Labor has announced a ten-year plan to build 250,000 new homes across Australia, including 20,000 during its first term in government if it wins the election.
The $6.6 billion investment would see 250,000 new homes for low income and working families, key workers such as nurses, police, carers and teachers and women over 55, the fastest emerging group of Australians at risk of homelessness.
Subsidies of $8,500 per year would be offered to investors building new homes in return for cheaper rent for eligible tenants.
Opposition leader Bill Shorten unveiled the multibillion-dollar plan in his address yesterday at Labor’s three-day national conference in Adelaide.
“Building more affordable housing is infrastructure policy. It is cities policy. It is jobs and productivity policy,” he said.
The plan would see a family paying the national rental average save up to $92 each week.
“When you provide an affordable home for hard-working people, you give them the level playing-field and fair start they need,” he said.
Shorten said Labor would work with the states and territories, local councils, and community housing providers to make sure the rollout of homes were built “where they’re needed most” and would “go to the people who need them most”.
“Not foreign investors, nor international students.”
The new homes would be accessible for all ages and for people with a disability, with Shorten describing the new homes as “more energy efficient, meaning lower power bills”, also offering a rental discount of 20 per cent.
Describing Labor as a “party of home ownership, and a party of affordable housing and community housing”, Shorten used the speech as an opportunity to call on industry super to “step up” and invest in affordable housing projects.
And of course, the opposition leader touched upon the hotly debated campaign election issue: negative gearing.
“This is a boost for renters and for the liveability of our growing suburbs… Alongside our plans to make negative gearing fairer, it will drive a boom in construction jobs and apprenticeships,” Shorten said.
A recent report published by the Australian Housing and Urban Research Institute (AHURI) found Australia needed to triple its social housing by 2036, faced with a shortfall of 433,000 social housing dwellings.
Property industry bodies welcome Labor’s announcement
Property Council chief executive Ken Morrison welcomed the incentives, but said they are “no substitute” for the supply of housing which is funded by 2.1 million property investors, “including those who access negative gearing”.
Housing affordability remains a critical issue for many Australians, an issue Morrison says is often overshadowed in the media by Melbourne and Sydney’s cooling markets.
“It makes sense to harness the investment capacity of the private sector to deliver affordable housing,” Morrison said.
“Labor’s incentives for investors to deliver affordable housing will make a contribution to meeting that need while also providing a boost to our construction industry, a key driver of economic activity.”
Planning schemes, land supply, and property taxes, which make up around 25 per cent of the cost of a new house are all part of the housing affordability mix, Morrison added, “there is no single ‘silver bullet’ solution”.
Urban Taskforce chief executive Chris Johnson said many different approaches are needed to tackle the hugely complex housing affordability issue.
“State and territory governments still have a responsibility to ensure that enough appropriately-zoned land is available in inner-ring suburbs to ensure sufficient housing supply,” Johnson said.
“Infrastructure levies must be kept under control to ensure that these do not add to the cost of housing production.”
Revealed: The biggest apartment sales of 2018 in Qld
They are bigger than your average house, come with killer views and are fast becoming the new way of life for the well-heeled. Here are Queensland’s biggest apartment sales of 2018.
THEY are bigger than your average house, come with killer views and are fast becoming the new way of life for well-heeled home buyers.
Queensland’s biggest apartment sales of 2018 have been revealed, with the state’s most luxurious sky homes fetching eye-watering prices fuelled by interest from high flyers and demand continuing to outstrip supply.
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The top 10 list is dominated by the Gold Coast, Noosa and Brisbane’s inner city, with a palatial four-bedroom penthouse in the glamorous heart of Surfers Paradise taking the crown for the most expensive apartment sold last year at $9.5 million.
The 39th-floor Chevron Renaissance apartment, formerly owned by developer and entrepreneur Ron Bakir, became the most expensive penthouse ever sold on the Gold Coast — eclipsing the previous record of $9.2 million.
The second top sale was in Noosa, where a three-bedroom penthouse on the beachfront in Hastings Street fetched $7.2 million last year.
And in Brisbane, the biggest apartment sale of 2018 was a three-bedroom riverfront unit in New Farm, which changed hands for $6.5 million.
It comes as 2019 is shaping up to be even bigger for apartment sales, with real estate agents seeing signs owner-occupier demand for unit living has hit new heights.
Brisbane’s shrinking unit development pipeline and rising interstate migration means owner-occupier apartment stock is failing to keep up with demand.
After years of living in houses, Brisbane couple Ken and Toni Scrogings decided to buy a luxury apartment in a new development on the river in Hamilton.
With two of their children no longer living at home, the Scrogings wanted to make the move to apartment living and a lower maintenance lifestyle.
They have bought a three-bedroom, luxury sky home in Brookfield Residential Properties’ Gallery House, which will be completed later this year.
“Ken and I had a list of things we wanted for ourselves in an apartment, and we also wanted somewhere that could double as a ‘family home’ when our kids come to stay,” Mrs Scrogings said.
“Above all, we wanted top quality finishes. We are fussy — we have a beautiful home in Clayfield so we wanted to buy something that was nicer than what we have.”
Brookfield Residential Properties’ general manager Lee Butterworth said the Scrogings were typical of many Gallery House buyers.
“Our penthouses and sky homes have been sold to local downsizers who live in high-end homes and are now looking for something even more luxurious with incredible views and low maintenance,” Mr Butterworth said.
TOP 10 APARTMENT SALES OF 2018 IN QLD
1. 3250/23 Ferny Ave, Surfers Paradise $9.5m
It is one of the country’s best penthouses with a huge 21 car spaces and holds the Gold Coast penthouse record.
Complete with its own cigar and wine-tasting area, this record-breaking penthouse is spread over two floors and was sold with $1 million worth of imported designer furniture.
Features included secure basement parking for 21 cars, 918 sqm of living space and a fully electronic, remote-controlled kitchen.
The property was reportedly bought by a Gold Coast local.
2. 11/37 Hastings St, Noosa Heads $7.2m
This penthouse is right in the heart of the action on Noosa’s famous Hastings Street.
The three-bedroom, two-bathroom apartment in the ‘La Mer’ building overlooks Main Beach and sold for the first time in 27 years in October.
One of only nine apartments in the complex, the property has its own rooftop terrace and direct access to the pool and beach via a private stairwell.
3. 5/81 Moray St, New Farm $6.5m
This riverfront property in the prestigious Aquila building in New Farm fetched the biggest price for an apartment in Brisbane in 2018.
The tower only has 10 apartments, with one occupying each floor.
It comes with a media room, lift access, a built-in barbecue triple lock-up garage and a gym and heated pool.
4. 7001/4 The Esplanade, Surfers Paradise $6.5m
One of Australia’s largest and highest penthouses changed hands last year for $6.5 million. The four-level apartment in the beachfront Soul building in Surfers Paradise was owned by Hong Kong billionaire Tony Fung.
The property was sold as a concrete shell — stripped bare of all fixtures and fittings by receivers.
5. 4/63 River Esplanade, Mooloolaba $5.85m
This penthouse was in a luxury apartment block that was built on land once home to a fishing shack used as a holiday home to the stars.
For more than a century, the site at 63 River Esplanade was owned by Fred Eager of motoring fame and his ‘Pink House’ used by Hollywood A-listers, until it was sold in 2014 for $3.8 million.
A prestigious development known as ‘Tangalooma’ was then built on the site featuring four 500 sqm units and the sale of the penthouse for $5.85 million last year set a record for the central part of the Sunshine Coast.
It reportedly sold to a local downsizer.
6. Lot 6/3533 Main Beach Pde, Main Beach $5.6m
This apartment sold in March last year, but the penthouse and apartment 5 in the same building are currently on the market for $8.95 million and $5.75 million, respectively.
The beachfront development, called Sea, comprises only seven apartments.
7. 3/63 River Esplanade, Mooloolaba $5.58m
This was another one of the units in the ‘Tangalooma’ development, which also sold to a local buyer.
Each floor in the exclusive complex is specifically designed and comes with its own entry foyer and pool entry, plus a basement carpark.
8. 4/3565 Main Beach Pde, Main Beach $5.5m
This brand new, beachfront apartment sold for $5.5 million late last year.
The four-bedroom, four-bathroom property spans an entire floor of the M3565 development and includes sliding timber screens on its open balconies that encircle the apartment.
It offers ocean views from every room.
Another apartment in the building is currently for sale for $5.75 million.
9. 150/59 Pacific St, Main Beach $5.3m
This spectacular, three-level penthouse in the Xanadu North building sold just a month after hitting the market.
CoreLogic data reveals the four-bedroom apartment last changed hands in 2014 for $4.06 million.
An indoor heated pool, spa, home theatre, bar and 400-bottle wine cellar are among its standout features.
10. 702/252 Hedges Ave, Mermaid Beach $5.25m
This stunning, four-bedroom apartment was bought by Victorian property developer and former vice-president of the Carlton Football Club, Colin DeLutis.
It had previously belonged to ex-Coles boss John Fletcher, who paid $6.7 million for it in 2007.
The two-level property sold within 14 days of hitting the market.
It also has a rooftop terrace with a 15-metre lap pool and spa.
Originally published as Biggest apartment sales in Qld
Top home sales: Big spender Clive Palmer spends $22m on property
THEY’RE jawdropping, dripping in luxurious features and have sold for more money than most people can dream of. These are the most expensive homes of 2018 across the state.
THEY’RE jawdropping, dripping in luxurious features and have sold for more money than most people can dream of.
The top home sales on the record for 2018 in Queensland have been revealed and one buyer stands out from the crowd.
Former federal politician and billionaire businessman Clive Palmer splurged more than $22 million on property across the state last year, including a beachfront mansion on the Gold Coast, a riverfront Brisbane estate and a unit in Townsville.
Players at the prestige end of Brisbane’s property market are hailing 2018 as one of the best in years, with demand from interstate migrants fuelling more sales above the $4 million mark.
The biggest reported sale in Queensland in 2018 was an absolute beachfront estate in idyllic Sunshine Beach for a staggering $18 million.
The sale of the seven-bedroom, eight-bathroom property set a new record for the entire Sunshine Coast region when it was sold by IT entrepreneur Daniel Wallis.
Just streets away, also in Sunshine Beach, former tennis star Pat Rafter’s beachfront home at 46 Seaview Terrace sold for $15.2 million to Betty’s Burger founder David Hales.
On the Gold Coast, the biggest sale was in the so-called “millionaire’s row” of Hedges Avenue.
Mr Palmer forked out a cool $12 million for a beachfront mansion with five bedrooms, a gym, a wine cellar, a lift and a lap pool at 9 Hedges Avenue.
He also splashed his cash on the Brisbane home of the founder of the collapsed Linc Energy, Peter Bond — paying $7.5 million for the riverfront estate at 36 Needham St, Fig Tree Pocket.
But the biggest home sale of 2018 in the Queensland capital was a riverfront home in Hawthorne with a tennis court, two swimming pools, a putting green and a private jetty.
The luxurious property at 106 Virginia Avenue was owned by energy executive Shaun Scott and fetched more than $11 million.
That was closely followed by the sale of the Ascot home of Domino’s Pizza boss Don Meij for $11 million.
In Rockhampton, a 132-year-old home fetched $1.37 million, while in Cairns, an award-winning five-bedroom house on the harbour sold for $2.65 million.
While not publicly recorded, there were a number of offmarket sales that would have made the list, including disgraced businessman Christopher Skase’s lavish Hamilton mansion at 36 Dickson Tce, which sold for $10.138 million.
Motivated by Brisbane’s growth and sales of other homes in the area, Brisbane couple Drew and Tabea Haupt have decided to sell their New Farm home.
They bought the property at 64 Annie Street when they noticed it was for sale with development approval for a unit block.
“The for sale sign came up and my wife and I, and brother who we’re in business with, said let’s buy this and build two large family homes to keep in with the charm of New Farm,” Mr Haupt said.
“We hated the idea of having more units in the suburb, so we designed the house with family living in mind.”
The property, which is being marketed by Henry Hodge and Kosta Porfyriou of McGrath Estate Agents, is expected to attract offers in the early to mid $3 million range.
“If you compare it to Sydney and Melbourne, the proximity to the city, there’s no traffic — it’s such an amazing offering to have,” Mr Haupt said.
“It’s not until you travel around and see other cities that you realise how lucky we are to be able to have a big house, yard and pool so close to the city.
“I think New Farm is still undervalued signficantly …the change happening right now in Brisbane I beleive is a once in a lifetime, with likes of Howard Smith Wharves, Queens Wharf and the billions being spent on infrastructure.”
From Townsville to Toowoomba and Brisbane to Bundaberg, here are the biggest home sales of 2018:
TOP 20 RESIDENTIAL SALES OF 2018 IN BRISBANE
Address Sale price
1. 106 Virginia Ave, Hawthorne $11.129m
2. 27 Sutherland Ave, Ascot $11m
3. 33 Maxwell St, New Farm $8.5m
4. 36 Needham St, Fig Tree Pocket $7.5m
5. 1A Eldernell Tce, Hamilton $7.25m
6. 150 Adelaide Street East, Clayfield $7m
7. 5/81 Moray St, New Farm $6.5m
8. 8 Sentinel Court, Cleveland $5.25m
9. 17 Ningana St, Fig Tree Pocket $5.1m
10. 19 Lawes St, Hamilton $5m
11. 127 Laurel Ave, Chelmer $5m
12. 16 Scott St, Hawthorne $4.875m
13. 27 Sutton St, Chelmer $4.83m
14. 3501/140 Alice St, Brisbane City $4.5m
15. 58 Retreat St, Bridgeman Downs $4.42m
16. 32 Teneriffe Dr, Teneriffe $4.405m
17. 100 Oriel Rd, Clayfield $4.35m
18. 34 Satinwood Ct, Bardon $4.275m
19. 24 Ascot St, Ascot $4.25m
20. 405 Brisbane Corso, Yeronga $4.2m
TOP 20 SALES OF 2018 ON THE SUNSHINE COAST
Address Sale price
1. 21-23 Webb Rd, Sunshine Beach $18m
2. 46 Seaview Tce, Sunshine Beach $15.2m
3. 2 Belmore Tce, Sunshine Beach $14m
4. 5 Allambi Rise, Noosa Heads $11.2m
5. 11/37 Hastings St, Noosa Heads $7.2m
6. 17 The Esplanade, Sunshine Beach $6.25m
7. 4/63 River Esplanade, Mooloolaba $5.85m
8. 3/63 River Esplanade, Mooloolaba $5.58m
9. 52 Mossman Court, Noosa Heads $5.2m
10. 36 Seaview Tce, Sunshine Beach $5.2m
11. 29 Mooloolah Island, Minyama $5.15m
12. 1 Natasha Ave, Noosa Heads $5m
13. 15 Webb Rd, Sunshine Beach $5m
14. 42 Seaview Tce, Sunshine Beach $5m
15. 39 Wyuna Dr, Noosaville $4.85m
16. 15 Minyama Island, Minyama $4.6m
17. 63 Witta Circle, Noosa Heads $4.45m
18. 1001/87 Mooloolaba Esp, Mooloolaba $4.4m
19. 17/4 Quamby Plc, Noosa Heads $4.3m
20. 430 Sunrise Rd, Tinbeerwah $4.25m
TOP 20 SALES OF 2018 ON THE GOLD COAST
Address Sale price
1. 9 Hedges Ave, Mermaid Beach $12m
2. 105 Hedges Ave, Mermaid Beach $11.6m
3. 3250/23 Ferny Ave, Surfers Paradise $9.5m
4. 8 Marseille Court, Bundall $9m
5. 31 The Corso, Surfers Paradise $8.8m
6. 2230 Arnold Palmer Dr, Hope Island $6.5m
7. 7001/4 The Esplanade, Surfers Paradise $6.5m
8. 2 First Ave, Broadbeach $6m
9. 57 Woodgees St, Currumbin $5.6m
10. 6/3533 Main Beach Pde, Main Beach $5.6m
11. 504 The Esplanade, Palm Beach $5.5m
12. 4/3565 Main Beach Pde, Main Beach $5.5m
13. 46 Knightsbridge Pde East, Paradise Pt $5.4m
14. 31 Buccaneer Ct, Surfers Paradise $5.3m
15. 150/59 Pacific St, Main Beach $5.3m
16. 16 Westminster Ct, Paradise Point $5.28m
17. 7 Knightsbridge Pde West, Paradise Pt $5.275m
18. 702/252 Hedges Ave, Mermaid Beach $5.25m
19. 50 Admiralty Dr, Surfers Paradise $5.2m
20. 2623 Virginia Dr, Hope Island $5.05m
TOP 10 SALES OF 2018 IN TOOWOOMBA
Address Sale price
1. 11 Old Toll Bar Rd, East Toowoomba $2.95m
2. 7 Bridge St, Mount Lofty $2.9m
3. 1 Mayes St, East Toowoomba $1.9m
4. 11 Bridge St, Mount Lofty $1.8m
5. 41 Campbell St, East Toowoomba $1.55m
6. 92 Campbell St, East Toowoomba $1.45m
7. 10 Spring St, Middle Ridge $1.35m
8. 2 Sinclair St, East Toowoomba $1.335m
9. 43 Curtis St, East Toowoomba $1.302m
10. 30 East St, Redwood $1.25m
TOP 10 SALES OF 2018 IN CAIRNS
Address Sale price
1. 22 Brindabella Quay, Trinity Park $2.65m
2. 6 Kingfisher Close, Earlville $2.35m
3. 1402/141 Abbott St, Cairns City $2.35m
4. 7 Fig Tree Dr, Caravonica $2.1m
5. 70 Falcon St, Bayview Heights $1.8m
6. 81 Harbour Dr, Trinity Park $1.55m
7. 26 Brindabella Quay, Trinity Park $1.53m
8. 52 Kewarra St, Kewarra Beach $1.525m
9. 237 Taripla Plc, Trinity Beach $1.5m
10. 11 Marina Quay, Trinity Park $1.5m
TOP 10 SALES OF 2018 IN TOWNSVILLE
Address Sale price
1. 9/88 Mitchell St, North Ward $2.7m
3$2,000,000Jan-18House3THE POINTCASTLE HILL
7$1,400,000Apr-18House19THE COVENELLY BAY
TOP 5 SALES OF 2018 IN MACKAY
Address Sale price
1. 49 Logan Cres, Erakala $1.4m
4$1,200,000Aug-18House22IAN WOODDRIVEDOLPHIN HEADS
TOP 5 SALES OF 2018 IN ROCKHAMPTON
Address Sale price
1. 3 Athelstane St, The Range $1.37m
TOP 5 SALES OF 2018 IN GLADSTONE
Address Sale price
1. 13 Gibbons Ct, Agnes Water $1.125m
3$800,000Jun-18H584CAPTAIN COOKDRIVESEVENTEEN SEVENTY
TOP 5 SALES OF 2018 IN BUNDABERG
Address Sale price
1. 24 Miller St, Bargara $1.45m
TOP 5 SALES OF 2018 IN FRASER COAST
Address Sale price
1. 17/558 Charlton Esp, Urangan $1.29m
2. 389 Oregan Creek Rd, Toogoom $1.25m
3. 107 Esplanade, Point Vernon $1.035m
4. 511/569 Charlton Esp, Urangan $950,000
5. 22 Neisler Ct, Kawungun $930,000
Originally published as Big spender Clive tops home sales
Noosa property market: Its spectacular rise to the top of Australia’s best performing suburbs
Noosa has cemented its status as one of the nation’s most sought-after property markets, with new data revealing its apartments had the third-highest rate of capital growth of anywhere in Australia last year.
The median unit price in Noosa Heads skyrocketed 30.1 per cent to $745,000 in 2018, placing it third out of the 2522 suburb medians calculated in the latest Domain House Price Report.
The median house price in Noosa Heads grew by a massive 17.2 per cent, while neighbouring Sunshine Beach, which shares the Noosa Heads postcode, increased by 18.7 per cent.
The median price for a house in Noosa Heads is now $1.125 million, while Sunshine Beach is at $1.395 million.
In the context of Sydney and Melbourne’s declining property markets, Noosa and Sunshine Beach’s performances were particularly exceptional, local agent Tom Offermann said.
“Noosa’s market has matured. It’s grown from being a speculative market 10 to 15 years ago, to a lifestyle market where property here is an integral part of people’s lives,” he said.
“It’s much more sustainable. If there are tough economic times people are less inclined to sell because their property has become that place where their families come together. It sounds dreamy but it’s the case.”
Mr Offermann said it was now common in Noosa for properties to stay in one family for generations.
“Many of our high-end properties, the owners won’t sell them. The common response is that the ‘family would kill us if we sold it’. It’s their reserved spot at Noosa and it’s special.”
One of Mr Offermann’s most significant sales in the lead-up to Christmas was at Le Mer on Hastings Street — an apartment building that has been tightly held and highly sought-after as one of Australia’s premier beachfront locations since it was built over 30 years ago.
The three-bedroom, two-bathroom unit at No.5 sold within two weeks of being listed.
“There are still owners there who have been there since the beginning. I recall selling these apartments for $225,000 — now they’re in the $6 to $7 million range,” he said.
Mr Offermann said from a finance perspective, holding properties in the area made sense.
“On the Gold Coast, you can create real estate by selling air, with high-rise buildings. There’s no limit,” he said.
“Whereas we have the population cap and all the town planning policies, so what we’ve got is what we’ve got. Property here is finite.”
Last year got off to a particularly heady start in Noosa, with its first residential sale over $10 million. There was also Pat Rafter’s beachfront mansion that sold for $15.2 million, followed two weeks later by the $18 million Sunshine Beach trophy home that set a new record for the Sunshine Coast.
The house at 21-23 Webb Road — a seven-bedroom, eight-bathroom beachfront estate — was one of the biggest real estate deals in Queensland in recent years.
Just days before Christmas, Mr Offermann settled the off-market sale of a new house on Noosa Hill overlooking Laguna Bay for over $10 million.
He said that momentum then carried over into January, and described the start to 2019 as “phenomenal”.
“We had $30 million in sales in two weeks,” he said.
“It’s been an explosive start to the year and, while January is often a good month for us, this year has been even stronger than previous Januarys.”
David Conolly of Century 21 Conolly Hay Group said Sunshine Beach had grown substantially in popularity with home owners due to its unique and prestigious location.
“Sunshine Beach is an east-facing surf beach, it’s got a village atmosphere, it’s so close to Noosa yet it’s still got a little bit of distance from the holiday situation of Hastings Street,” he said.
“Really, from Sunshine Beach all the way through to Peregian, demand has been so strong … it’s an area where people want to live rather than holiday.”
Mr Conolly said the likely reason why Noosa and Sunshine Beach’s median house prices were so high was the number of trophy homes sold last year, while overall demand in these areas had gone to a new level in recent years.
“They’ve been fantastic markets the last couple of years, there’s no doubt about it,” he said.
“Noosa has become a hub for people educating their children with lots of fantastic schools and people are living and working here for the lifestyle.”
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