Off-the-plan resale gains & Melbourne's investor-hostile policies

29 January 2026

This week's distressed listings

• 19/75 Thorn Street, Kangaroo Point, QLD
• 9 Clyde Road, Herston, QLD
• 36 Open Drive, Arundel, QLD
• 7 Sheridan Park Avenue, Broadbeach Waters, QLD
• 12 Roach Street, Arncliffe, NSW
• 2/30-38 Cook Road, Centennial Park, NSW
• 6 Crane Road, Green Valley, NSW
• 3 The Parapet, Banora Point, NSW

Brisbane

Moreton Bay master-planned community

One of southeast Queensland's largest residential landholdings has changed hands for $318.5 million, with Singapore-based developer HB Land acquiring the 181-hectare Elimbah site.

The property comes shovel-ready with development approval already in place for the first 288 residential lots, plus mixed-use and industrial precincts, paving the way for an eventual 1,400-home master planned community.

Moreton Bay is one of Australia's fastest-growing regions. Elimbah's median house price is $1.2 million, while weekly rents now sit around $900. The sale campaign attracted 261 enquiries and 16 formal offers in just 5.5 weeks.

Nundah

Plans have been lodged for a 23-unit development at 45 Hansen Terrace, Nundah.

The proposed development features two four-storey buildings with a mix of two- and three-bedroom apartments, 36 car spaces and rooftop solar. The location offers walking access to Toombul Train and Bus Stations, Nundah Village, and the new Toombul Shopping Centre, which is currently being redeveloped following the 2022 floods.

The 1,206m² site last sold in April 2022 for $1.78 million.

Listing of the Day

Gold Coast

Dankav axes builder on Laani Mermaid Beach

Construction of the near-complete Laani residences in Mermaid Beach has hit turbulence, with developer Dankav terminating its head building contract with Groupline Constructions.

Dankav managing director Daniel Veitch said the decision to terminate was not made lightly, but followed what he called a prolonged period of “serious and ongoing defaults” on its contract.

Beachfront developments continue to outperform

Newly completed beachfront apartments are delivering extraordinary resale gains, with some properties changing hands for double their original off-the-plan purchase price.

At Rainbow Bay's yet-to-be-completed Esprit residences, a two-bedroom apartment purchased for $909,000 in 2021 recently fetched $1.735 million, while a three-bedroom unit bought for $1.855 million in 2022 recently resold for $2.8 million.

In Burleigh Heads, luxury residences in the Mondrian Gold Coast have also experienced exceptional capital growth. A 257m² apartment on the 14th floor sold last September for $6.4 million, representing a $2.8 million gain for teh vendor who purchased the apartment off-the-plan in 2021 for $3.6 million.

In Main Beach, a full-floor apartment in the newly-completed Monaco, bought off the plan for $5.6 million, resold shortly after completion for $8.5 million, representing a stunning $2.9 million uplift.

For investors looking for a piece of the action, there are plenty more beachfront off-the-plan developments in the pipeline, including Josephine by Mosaic,

Listing of the Day

Sydney

NSW Housing Pattern Book struggles to turn designs into homes

NSW’s much-touted Housing Pattern Book, which is aimed at accelerating the development of high-quality, affordable and sustainable housing, is yet to deliver any meaningful results.

More than 21,000 designs have been purchased since the Pattern Book launched in July 2025, with buyers promised access to a fast-tracked planning pathway. Yet only a small number of projects have been submitted for approval, and just one development — a row of seven terrace houses in Edmondson Park — has begun construction.

The shortfall highlights a key reality: developers still need builders, feasible project economics and construction capacity to turn plans into homes.

Mixed-use development proposed for The Hills

Level 33 has unveiled plans for a major mixed-use development in Kellyville, featuring a five-storey podium and four residential towers ranging from 21 to 38 storeys.

Designed by Turner Studio, the proposal for 301 and 301B Samantha Riley Drive would deliver 1,208 homes, including 10 per cent affordable housing, along with 9,122sqm of non-residential space for a supermarket, retail, food and beverage outlets, and a childcare centre. The tallest tower would rise to 129 metres, almost triple the current 46-metre height limit.

The project is being assessed as a State Significant Development and has drawn opposition from The Hills Shire Council.

The 2.17 hectare site was purchased by Level 33 in May last year for $58 million.

Three luxury residences planned for Mosman's Noble Street

Akat Investments has lodged plans to demolish the existing home at 23 Noble Street, Mosman, and replace it with three luxury residences, marking what would be the first approved development project on the blue-chip street.

Each four-bedroom residence would span two levels with basement parking and direct lift access to all floors, targeting Mosman's prestige buyer market. While Noble Street itself has remained untouched by redevelopment, nearby 28 Belmont Road, located on the corner of Mosman Street, was approved in 2023 for a similar dual-dwelling project.

Mona Vale beachside site set for $25M apartment development

First Quadrant Properties has loadged plans for a seven-storey, 24-apartment development at Mona Vale.

The Corben Architects-designed project at 20 Darley Street East carries a $25 million development cost and includes basement parking and three affordable housing units.

Located just a short walk from Mona Vale Beach, Mona Vale Surf Life Saving Club and Mona Vale Golf Club, this is a prime location likely to attract strong interest from downsizers.

Listing of the Day

Melbourne

Why Melbourne's investor-hostile policies might be working

Melbourne's higher property taxes and stricter tenancy laws are regularly blamed for driving investors out of the Victorian market. But as Peter Mares argues, these policies may have made Melbourne the best capital city for renters and first home buyers.

Victoria's tax landscape

In 2023 the state increased land tax rates and lowered the threshold at which it applies. Since early 2025, Victoria has also levied taxes on vacant residential land across inner and middle Melbourne, payable on homes vacant for more than six months, or under construction for more than two years. The rate increases if homes remain empty for a second year, and the levy now extends to undeveloped metropolitan land sitting idle for over five years. Victoria also imposes a 62.5% windfall gains tax on rezoning uplifts between $100,000 and $500,000, plus surcharges on foreign owners and short-stay rentals.

First home buyers are winning

Lending data suggests first home buyers may be benefiting from Victoria’s higher property taxes and stricter tenancy laws. In most mainland states, around 70 per cent of new home loans go to investors and 30 per cent to first home buyers. In Victoria, that split is closer to 60–40, indicating the Victoria's "investor hostile" policies may have indeed reduced investor competition and created more opportunities for aspiring homeowners.

If the primary aim of housing policy is to help more people realise the great Australian dream of home ownership, then it looks like Victoria may be leading the pack.

Listing of the Day

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