A landmark legal decision, the first of its kind in Queensland, will uphold a ban on Airbnbs in certain strata title complexes in Queensland.
The ban on subletting property website Airbnb at Fairway Island, a 85-lot resort, marks the end of a two-year legal battle between two property owners looking to list their homes as short-term rentals in its complex.
The Southport Magistrates Court overturned an earlier ruling by the Body Corporate Commissioner, entitling homeowners—Gary Redman and Andrew Murray—to let out their properties.
The new by-law, banning short-term letting or Airbnb within the Gold Coast community, remains ground-breaking, yet won’t impact all developments or apartment buildings.
The court found that the Gold Coast resort’s body corporate was correct to impose an Airbnb ban because it had more power under the Building Units and Group Titles Act.
Under the BCCMA Bodies Corporate are restricted in terms of which by-laws can be applied to owners.
Specifically, under the BCCMA a by-law cannot restrict the type of residential use, or discriminate between different types of occupiers, meaning those using apartments or units as Airbnbs can continue doing so, as long as they are governed by the BCCMA.
Most body corporates are governed by the Body Corporate and Community Management Act, which has tougher restrictions on committees.
While there are currently more than 50,000 Bodies Corporate in Queensland the decision will only apply to about 200 body corporates.
Airbnb mobilises to generate trust
Online accommodation giant Airbnb is also facing an Australian Tax Office (ATO) crackdown on homeowners who aren’t declaring earnings.
The prospect of new costly regulations, with the proposed imposition of compulsory short-term letting registries in NSW and WA, will call for stricter verification across accuracy of listings and quality standards.
The ATO identified a $9 billion shortfall in holiday let revenue and is now monitoring a number of short-term letting websites, as well as using information from letting agencies to identify holiday let hosts.
The San Francisco-based company has also pledged to review the 7 million properties on its global platform by December 2020.
The new standards came after media reports in the US of scams taking advantage of users and after five people were killed in a shooting at an unauthorised party held at an Airbnb rental in Orina, California, on Halloween.
Properties that pass the test will be labelled as approved accommodation when users search the Airbnb platform.
First residents move into second stage of Gallery House
Residents have begun moving into the second stage of Brookfield Residential Properties’ luxury apartment project, Gallery House.
The luxury two stage development comprises 315 premium apartments and penthouses and occupies an absolute waterfront position with uninterrupted views of the Brisbane River and city skyline.
Paul Makepeace, who purchased a two-bedroom apartment from the Gallery House River Collection, has moved ‘home’ after a decade-long stint overseas.
His prerequisites were ‘somewhere close to my daughters and somewhere that felt like a community’.
“In Gallery House I found the perfect balance of location and connectivity,” he said.
“After 10 years abroad, I wanted to live somewhere that provided me with something I’ve been missing for a while now – a sense of community.
“The location of Gallery House next to Portside Wharf, and the building’s well-designed communal areas, makes it feel more like a neighbourhood than an apartment development.
“That sense of connectivity is something other projects I looked at just didn’t have.”
Mr Makepeace said that being part of the Northshore Hamilton masterplanned community gave him confidence he was buying somewhere that had taken future growth into consideration.
“So much development is done on the fly, so knowing that there is a considered masterplan – not just for Brookfield’s parcel of land, but for the whole of Northshore Hamilton – was a real drawcard for me,” he said.
Gallery House forms part of the $5 billion Northshore Hamilton precinct – a 304 hectare development that is one of the largest urban renewal projects in Queensland.
Brookfield Residential Properties is the most active developer in Northshore Hamilton, having already delivered six apartment buildings as part of its Portside Wharf retail and residential precinct that neighbours Gallery House.
Gallery House is its latest and most luxurious project, with premium resident-only facilities including a rooftop sanctuary with infinity pool, lounge and barbeque areas, and a podium level garden.
Brookfield Residential Properties’ Managing Director Lee Butterworth said the masterplan had been meticulously designed to offer some of the best living opportunities in Queensland.
“We don’t just want to construct apartment buildings; we want to create communities,” he said.
“The design of our six-hectare parcel in Northshore Hamilton focuses on liveability, ensuring residents have easy access to infrastructure and amenity, now and into the future.
“A sense of connectivity has been achieved at Portside Wharf and we are now replicating it, on a more luxurious scale, at Gallery House.”
Mr Butterworth said Gallery House would become an address synonymous with style and luxury and its residents would enjoy an enviable riverfront lifestyle with everything at their fingertips.
He said buyers had been predominately locals looking for waterfront property without the maintenance, who knew the benefits of living in Northshore Hamilton with its direct access to retail, restaurants, recreation and green spaces.
“The three and four-bedroom apartments and penthouses in Gallery House are bigger than many homes, so buyers don’t feel like they are compromising on space,” he said.
“Instead, they are upgrading to a brand new apartment with all the modern luxuries and lifestyle amenities at their doorstep.
“This includes the newly reopened Hamilton Recreation Reserve, which boasts green space for cricket and football, an amphitheatre, picnic areas, a dog park and water play facilities, following a $10 million redevelopment.
“This space is proving popular with all ages, with plenty of room for people to keep active and healthy, for kids to explore and pets to play.”
Gallery House is now 90 per cent sold, with a mix of two and three bedroom apartments, ‘sky homes’ and penthouses for sale ranging from $575,000 to $2.795 million.
Three displays styled by Coco Republic are now open in Gallery House, showcasing the views and lifestyle on offer.
Located just six kilometres from the CBD, Gallery House has easy access to the CityCat, major arterial roads and motorways, key employment hubs and the Brisbane Airport; and direct access to the shops and restaurants of neighbouring Portside Wharf.
For more information on Gallery House visit the Sales & Display Centre at Portside Wharf or www.gallery-house.com.au
Your chance to own a Mater Prize Home
We have all visited a Mater Prize home, and dreamed about buying that magic ticket, the one that wins. Well here is your chance to purchase a Mater Prize home.
If you love treetops, timber and architectural design, you’re going to be in heaven with this unique McDowall property!
We are extremely proud to present to you the “Cedar Lodge” Mater Prize home that most people in this area will recognise as a landmark of the area and its unique design is something the behold.
Inside, the impressive 955 sqm home boasts soaring timber ceilings and original features that are the epitome of character and relaxing charm. The kitchen has been modernized but still has the original rustic feel with ceiling fans and air conditioning throughout.
Perfect for families of all sizes, this home offers four spacious sized bedrooms, 3 bathrooms and multiple living spaces across both levels which are perfect for the young or modern family. You will spend all summer in the large inground swimming pool and outdoor entertaining area equipped with built in bar and surround sound system to add to the wow factor for this home.
The parking and main road access make for a fantastic opportunity for the work from home mum or dad as well as being situated in one of Brisbane’s most sought after primary schools, the McDowall catchment, and by catchment we mean you can physically throw a ball from the school and catch it in the back yard. No more school drop offs as public transport will deliver you from your doorstep to some of the best schools on the North-side and also makes your transit to the CBD or Airport a breeze.
This impressive home is full of character and charisma that can’t be replicated and is a must see for your Saturday morning inspections.
What you will love:
– Architecturally designed home with soaring ceilings, natural light and plenty of character
– 4 bedrooms (3 upstairs and 1 down, all with built-ins)
– 3 Bathrooms
– 150m from McDowall Primary School
– Solar Panels
– Large in ground swimming pool w/ entertaining area
– 10km to CBD and Brisbane Airport
– Multiple living areas
– Air con and ceiling fans throughout
– Double lock up Garage
Contact Jack Cahill from Madeleine Hicks Real Estate for your inspection today, before it’s too late.
M. 0427 445 427
Lenders adjusting mortgage rates
As speculation builds that a cut to Australia’s cash rate could be arriving in the near future, several of Australia’s lenders have been adjusting their home loan interest rates over the past week.
Beyond Bank has slashed fixed rates across a range of mortgage products, including its Total Home Loan Packages and Pinnacle Plus Packages.
Fixed rates were slashed as low as 3.79% p.a. (comparison rate 4.88% p.a.) for Beyond Bank’s Total Home Loan Package 3-year special, though the most substantial cuts were for its Total Home Loan Package investment loans, which fell 20 basis points to as low as 4.19% p.a. for selected loans (comparison rates: 5.34% p.a. for 1-year fixed, 5.26% for 2-year fixed, and a 5.19% p.a. for 3-year fixed).
QBANK also cut fixed rates on a selection of its home loans for owner occupiers and investors, going as low as 3.62% p.a. (comparison rate 4.32% p.a.) for its 3-year Fixed Rate Home Loan Special after a fall of 13 basis points.
The deepest rate cuts from QBANK were for its 4 and 5 year Fixed Rate Home Loans, whose fixed rates fell by 35 basis points to 4.24% (comparison rate 4.46% for 4 year fixed, and 4.43% for 5-year fixed).
But not all lenders have been cutting rates – IMB Bank has recently raised variable interest rates on selected principal & interest and interest-only mortgage offers.
Selected interest only loans from IMB Bank saw their variable interest rates increase by 10 basis points across the board, going as high as 6.39% (comparison rate 6.28%) for an interest-only Standard Variable Investment Loan.
Selected IMB principal & interest home loans also experienced rate rises, going up by as much as 65 basis points for the 90%-95% LVR Budget Home Loan, bringing its variable rate to 4.64% (comparison rate 4.70%).
At the same time, IMB Bank cut the interest rate on its Accelerator Home Loan by 50 basis points to 4.17% p.a. (comparison rate 4.72% p.a.).
If the Reserve Bank of Australia (RBA) decides to cut the nation’s official cash rate at its next meeting in June 2019, certain lenders could end up dropping their mortgage rates to 3.20% or even lower.
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