Queensland Property

Stockland have announced the acquisition of a 77-hectare residential development site at 944-1024 Ripley Road in South Ripley, building on its presence in Ipswich and South-East Queensland to meet much-needed demand for new housing.

Set to deliver 1,100 homes as well as a State Primary School and community facilities, the site is zoned for residential use and is close to Stockland’s Providence master planned community in the maturing Ripley Valley Priority Development Area.

Stockland’s CEO of Communities, Andrew Whitson said the group were excited about increasing their residential footprint with zoned land.

<img alt="" data-entity-type="" data-entity-uuid="" height="1556" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/allshots_providence.jpg" width="2333" /> 
Stockland's new South Ripley site sits close by to the group's Providence masterplanned community. Image supplied.&nbsp;

“The opportunity to build on the success of our Providence community, which has a very strong brand in the South-East Queensland corridor,” he added.

“The acquisition follows more recent consolidations at Providence and aligns with our strategy to restock our master planned community pipeline with market-ready projects on capital efficient terms, in well-connected corridors close to transport, schools, jobs and infrastructure.”

“South-East Queensland remains significantly under supplied, and we expect the new community will be highly sought after by homebuyers who value quality master planned communities in attractive settings with community facilities and infrastructure on their doorstep,” said Whitson.

Stockland’s General Manager of Queensland Communities, David Laner commented on the long list of projects the group already has up and down the Queensland coast, with experience the driving force behind the envisioned South Ripley project’s success. &nbsp;

“Stockland has almost $3.6 billion invested in Queensland, with master planned communities stretching from Townsville to the Gold Coast, including the multi award-winning city of Aura on the Sunshine Coast, the largest master planned community currently being developed in Australia.

“Future residents in South Ripley will benefit from a wide range of current and planned features at Stockland Providence, including the Providence Town Centre, the highly acclaimed Splash &amp; Play facilities, District sporting and recreational grounds, schools and childcare, and a Satellite hospital.”

“A diverse range of housing is proposed for the elevated site, which will offer future residents long views and the opportunity to build their dream home,” said Laner.

Subject to approvals, Stockland will aim to start the project after site settlement in 2024.

Set to deliver 1,100 homes as well as a State Primary School and community facilities, the site is zoned for residential use and is close to Stockland’s Providence master planned community in the maturing Ripley Valley Priority Development Area.

alisonwarters@gmail.com

Stockland boosts residential pipeline with South Ripley acquisition

A large development site in the heart of the Woolloongabba Olympic precinct is up for sale, with price expectations in excess of $45 million.

The 1.28-hectare rectangular shaped development site at 73 Ipswich Road in Woolloongabba&nbsp;is expected to attract apartment developers given its central location at the heart of the planned infrastructure in the precinct.

The site has three street frontages, to Ipswich Road and Henry Street and offers multiple development outcomes including residential, commercial, medical and hotel, subject to council approval.

Knight Frank agents Blake Goddard, Christian Sandstrom and Matt Barker in conjunction with Nathan Moore of Ray White Commercial Bayside on behalf of the vendor, a local private.

Goddard said the property was one of the largest privately owned infill sites within a two-kilometre radius of the Brisbane CBD and was expected to be hotly contested by buyers.

&ldquo;We expect a wide range of developers to be interested in this site, including residential, commercial, mixed-use and build-to-rent developers, due to its flexible zoning allowances,&rdquo; he said.

&ldquo;It is one of the largest privately-owned properties situated in the heart of the Woolloongabba Olympic precinct, close to the Cross River Rail and the redevelopment of &lsquo;the Gabba&rsquo; stadium, and one of the most significant development opportunities to have hit the market in the last few years.

&ldquo;Quality development sites are sought after in the current market, but this site will be even more attractive to a wide range of buyers due to the rarity of size and location. The Gabba stadium and surrounding precinct is set to undergo major transformation in the coming years with over $1 billion allocated to the precinct.&rdquo;

Moore said the property benefitted from its three-street frontage, easy access to major. arterial roads including Ipswich Road and the M1 Pacific Motorway, and the fact that a majority of it was undeveloped.

&ldquo;The property is set to benefit from its prime location underpinned by exceptional future development opportunities in the area surrounding the 2032 Olympics,&rdquo; he said.

The site is surrounded by nearby&nbsp;&nbsp;amenity including The Gabba, the Logan Road dining precinct and the Cross River Rail station upon completion.

&ldquo;The three-street frontage site enjoys a strategic location within Woolloongabba, offering unrivalled amenity along with extensive surrounding transport infrastructure and development,&quot; he added.&nbsp;

The 1.28-hectare rectangular shaped development site at 73 Ipswich Road in Woolloongabba is expected to attract apartment developers given its central location at the heart of the planned infrastructure in the precinct

Developers to swoop on one of the largest sites in the Woolloongabba Olympic precinct

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EXPERT OBSERVER
Regional Queensland has achieved something that few jurisdictions across Australia have managed: it has maintained its previous high levels of well-performing markets in defiance of Covid-19.
Hotspotting’s Winter 2020 survey of sales activity has identified 54 growth markets and 30 consistency markets, down only marginally on the results of the previous (Autumn 2020) survey, which found 55 growth locations and 34 consistency ones. This was the strongest performance by Regional Queensland in three years and the results of this latest survey are only slightly inferior.
The number of “declining” markets has reduced (from 12 to six to four in recent surveys) and there are now few danger markets in Regional Queensland outside of the perennial struggler, Mount Isa.
Compared to the Covid-inspired deterioration in the results of other major jurisdictions across the nation, this is a commendable performance – and provides further evidence that regional areas have done much better in the pandemic period than the biggest capital cities.
The well-performing markets include Townsville, Mackay, Rockhampton, Hervey Bay, Gympie and Toowoomba, as well as the Regional Queensland heavyweights, the Sunshine Coast and the Gold Coast.
In addition, we have seen further evidence of recovery in the Gladstone market, after multiple years in decline.
We continue to rate the Sunshine Coast one of the strongest economic and real estate stories in the nation and it has produced another solid result in this winter survey. The Sunshine Coast Regional Council area and neighbouring Noosa Shire have 11 suburbs with rising sales activity and eight others with consistent sales performance. There are also a number of locations which have delivered strong price growth in the past 12 months.
Nearby Gympie has a number of growth locations and is poised for a sustained period of growth, given major infrastructure projects and its improved links to the boom Sunshine Coast economy.
Sales activity overall in Gold Coast City has declined, unsurprisingly given the impact of Covid-19 on an economy so heavily reliant on tourism. This is reflected in the 35 suburbs with plateau markets. Nevertheless, there remain 10 suburbs with rising sales activity.
There are solid performers spread across Queensland, stretching from Townsville in the far north to more southerly locations like Hervey Bay and the inland city of Toowoomba.
Townsville has five suburbs with growing sales and, boosted by major infrastructure projects, is poised for a recovery from the previous downturn.
Mackay, a growth market we have noted in previous surveys, also has five growth suburbs and has a number of locations delivering strong price growth. Sales in South Mackay have been 20-27-35-34-52 in the past five quarters, a pattern which had led to strong price growth recently.
Rockhampton is showing increasing signs of revival, with four growth suburbs and three with consistent sales performance. The suburb of Berserker has lifted quarterly sales from 21 to 31 to 33 to 43 in the past year. Frenchville and Gracemere display similar growth patterns.
The Fraser Coast, based on Hervey Bay, is showing increasing signs of a growth phase, with five suburbs with growing buyer demand.
Toowoomba, after several years of moderate activity, is showing symptoms of a rising market, with three growth and four consistency suburbs.
The one disappointing result comes from Cairns, which stood out strongly in the previous Autumn survey as a rising market with nine growth suburbs. But this Winter survey finds only two growth suburbs, with sales in most Cairns suburbs falling away recently. This is an economy strong reliant on tourism, including international visitors, which has taken a serious hit from Covid-19.
Regional Queensland has also performed well on price growth. Six out of 10 locations have produced some level of growth in their median house prices in the past 12 months and most of those where prices have declined have done so only marginally.
The Sunshine Coast has a number of strong performers with annual price growth, led by Warana (19%), Minyama (16%) and Noosa Heads (11%).
The Gold Coast also has a number of growth locations, including Runaway Bay (18%), Worongary (15%), Palm Beach (11%) and Mermaid Waters (10%).
Mackay has some outstanding performers, including South Mackay (16%), Blacks Beach (14%) and Bucasia (10%).
I’ve previously noted the revival signs in Gladstone, with vacancies down and rents rising. We are now seeing evidence of prices rising, although from a low base. West Gladstone is up 16% and Glen Eden 23% in annual terms, while Calliope, New Auckland and Tannum Sands have all risen 8-9% in the past year.
Other resources-related locations where prices are rising from low bases include Moranbah (up 19%, but still only with a median of $240,000) and Blackwater (up 45%, but with typical houses still worth only $130,000).
Emerald is headed back to growth, with quarterly sales of 50-56-59-63-72 in the past five quarters.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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Regional Queensland market maintained strong performance despite COVID

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Buying and selling real estate property in Queensland is covered by many different laws.
Real estate property includes land, houses, units, townhouses, retirement villages and timeshare.
<h2>Getting professional help</h2>
Buying or selling your property is a huge financial commitment and you should think carefully about who you deal with.
Before signing anything, you should get legal advice on buying or selling your property. The Queensland Law Society can refer you to a solicitor.
Using a licensed agent to buy or sell real estate protects you under the Property Occupations Act 2014 (PDF, 916KB). Licensed agents must meet industry-based standards and codes of conduct. If you buy or sell privately, you will not be protected under the Act.
<h2>Contracts</h2>
Contracts for the sale of real estate must be in writing. In most cases, there is a standard contract, which is approved by the Real Estate Institute Queenslandand Queensland Law Society.
<h3>Conditions</h3>
You might want to make the contract conditional on some things happening, such as:
<ul>
<li>getting a satisfactory building and pest inspection</li>
<li>getting a loan to finance the purchase</li>
<li>selling your existing property.</li>
</ul>
A lawyer can advise you about important conditions but, before you sign anything, make sure you understand it.
<h3>Cooling off period</h3>
You have a cooling off period of 5 business days; however, if you cancel the contract in the cooling off period, you’ll have to pay a fee, which is a percentage of the purchase price. It’s important to get legal advice about your options.
<h3>Deposit</h3>
When you sign the contract, you usually pay a deposit. Sometimes the seller will accept a small deposit on signing, and the rest of the deposit once the contract becomes unconditional. There’s no set amount for a deposit, it is up to the buyer to say what they will accept.
<h2>Conveyancing</h2>
Once you sign a contract, it takes some time for the sale of the property to be finished. The process that happens after the contract is signed is called conveyancing.
Conveyancing involves all steps necessary to ensure that the registration of the land is in the name of the buyer at the government's land title office.
During the conveyance period, searches are done to ensure that the property is owned by the seller and not affected by things such as proposed reclaiming of land, contaminated land, easements or other government requirements.
You may do your own conveyancing or have it done for you.
You should get legal advice even if you plan to do your own conveyancing.
<h2>Buying or selling at auctions</h2>
If you decide to buy or sell a property at auction, generally the property will be offered for sale to the highest bidder. If your bid is accepted, you must sign an unconditional contract immediately. This means that, if you want to buy at auction, you need to check everything out before the auction. There is no cooling off period if you buy at auction.
<h2>Mortgages</h2>
If you borrow money to buy, build or renovate a property from a bank, building society or other lender, you usually do this with a mortgage. The lender (the mortgagee) creates a legal document (a mortgage) where you (the mortgagor) offer the property as security until you pay out the loan. If you do not make payments on the loan, the lender can sell the property to recover what you owe them. The sale of the property is called a mortgagee sale.
In a mortgagee sale, the lender must sell the property for a reasonable market value. The lender can keep money from the sale to cover the costs of sale and all the money you owe. Any money left over will be paid to you.
If the sale does not make enough money to cover what you owe the lender, you will remain legally responsible for the extra amount and the lender can take you to court you to recover the owed money.
<h2>Caveats</h2>
A caveat is a document that prevents any dealings with land (e.g. prevents the land from being sold). A caveat must be lodged with Titles Registration in the Department of Natural Resources and Water.
If you wish to lodge a caveat, you should get legal advice, as you may have to pay costs if you lodge a caveat when you have no legal right to do so.
<h2>Joint ownership</h2>
When you own a property as a joint tenant, you and the other tenants own the property together.
It is not divided into shares; you each own the whole property together. If you own property as a joint tenant, you cannot leave that property in your will. When a joint tenant dies, their ownership in the property automatically passes to the surviving joint tenants. If you are the only surviving joint tenant, you will be the sole owner of the property.
If you want to end a joint tenancy, you should get legal advice.
If you own property as a ‘tenant in common’, you own a defined share of the property. This might be an equal share with the other owners or a defined percentage (e.g. 50% each or 25% and 75%).
As a tenant in common, you can transfer your share to someone else, so you can leave your share in the property in your will.
<h2>Transfer duty and land tax</h2>
If you are buying an investment property or home to live in, you will need to know about:
<ul>
<li>transfer duty—all transfers of land and property are liable to transfer duty (formally known as stamp duty). Find current transfer duty rates.</li>
<li>land tax—this tax is charged yearly on the total unimproved value of the land you own. Generally, you are exempt from land tax if your home is your principal place of residence. Take a land tax exemption eligibility test.</li>
</ul>
<h2>Further information</h2>
<ul>
<li><a href="https://www.qld.gov.au/housing/buying-owning-home/" target="_blank">Read more about buying property in Queensland</a></li>
<li><a href="https://www.osr.qld.gov.au/client-group/property-investor/index.shtml" target="_blank">Read more about transfer duty and land tax</a></li>
<li><a href="https://www.qld.gov.au/housing/building-home/" target="_blank">Read more about building a home in Queensland</a></li>
<li>
<a class="download" href="https://www.reiq.com/media/44596/REIQ-Standards-of-Business-Practice_v6.pdf" target="_blank">Read the REIQ standards of business practice (PDF)</a>.</li>
</ul>
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jonathanchancellor-7SQnKwU6yx

Property 101: Laws for buying and selling property in Queensland

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A Brisbane man accused of overseeing a $12 million investment was remanded in custody on Saturday after being extradited from New Zealand, to reappear for mention on April 1.
Anthony David Gray, 54, was charged with 25 counts of fraud, relating to a property investment scheme run by his Gold Coast-based business.
Synergy Gray Professional Services ran from 2007 to 2017 with investors allegedly told they would receive a high rate of interest for funding short-term bridging loans to property developers in New Zealand, Singapore and Hong Kong.
Two of the 25 were allegedly defrauded of more than $2 million each.
"These investments did not exist, and the funds invested were diverted and used for the personal use of the alleged offenders," he said.
Gray allegedly told investors he was a solicitor and registered financial advisor, but he was unlicensed and his practising certificate with the Queensland Law Society had lapsed.
The scheme was based on short-term bridging loans, which Gray allegedly claimed was secured by real estate with capital and interests guaranteed, the summary of facts said.
Mr Gray's 72-year-old female business partner from Hamilton faced court in Brisbane on February 25 charged with nine counts of fraud.
Detective Senior Sergeant Paskin said the Financial and Cyber Crime Group were now investigating another six complaints, and further charges could be laid, Nine Entertainment reported.
None of the money has been recovered.
The alleged victims were either known to the offenders, or referred to the offenders by persons who knew them, Detective Senior Sergeant Paskin said.
They would see some alleged return on their investment via an allegedly fraudulent statement.
The victims came from across Australia as well as the US, UK and Europe.
Gray left Australia in February 2017 to flee creditors.
Appearing in Tauranga District Court, Gray did not oppose extradition to Australia to face the charges involving an alleged Ponzi-type investment scheme.
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