The public schools still waiting for better funding
Victoria is known as the 'Education State', with a vision to 'deliver excellence in every classroom'.
But the Victorian government has quietly delayed public school funding reforms by three years — a move that will cost students more than $2 billion. Norman Hermant reports.
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Daily Telegraph
17 minutes ago
- Daily Telegraph
Developers warned to ‘accelerate project launches' in one Aus state
One Aussie state has been warned to prepare for more demand for new homes and land as other states flatline in popularity or drop in demand altogether. The latest OpenLot New House Enquiry Index has revealed that Queensland was the only state to record positive demand growth for new homes in the first quarter of this year, achieving an enquiry index of 233.3. This indicates that QLD buyers make 26 per cent more enquiries than in the next-best state, South Australia (SA). 'Queensland also has the highest enquiries per buyer, aka absolute demand,' the report said. The OpenLot New House Enquiry Index is based on the average number of enquiries made by each new house and land buyer. Queensland's closest rival was South Australia (SA) which had an enquiry index of 185.1 but that represented a decline since the first half of last year, the report revealed. Western Australia (WA) and SA experienced significant drops in demand, with WA down 20.8 per cent and SA down 12.4 per cent. NSW and Victoria remained stable but showed signs of softening, with NSW nearly unchanged at -0.4 per cent and Victoria dropping by 5.4 per cent. Overall, demand for new stock fell 1.3 per cent nationally compared to 2024 but they remained above historic levels, the report revealed. founder and CEO Qi Chen said the findings come from their real-time measure of buyer interest based on average enquiries made each quarter by theirr more than 130,000 users. 'National growth has stalled, dipping by 1.3 per cent year-on-year,' Chen said. 'Still, demand remains well above historic norms and sits at the third-highest level ever recorded. 'However, each of the states is its own market, which means the national number obscures as much as it reveals. 'Of all the states, Queensland is the standout, with growth in enquiries per user and total buyer enquiries leading the nation. 'That's driven by a shortage of land, so buyers have to work harder to find what they are looking for. 'We expect more land to become available in Queensland in the second half of 2025.' MORE: What $1m will buy you across Australia Million-dollar shock: Most Aussies now priced out of house market What to do when your new home gets too expensive to build Chen added that WA and SA were both lagging significantly behind the other states. 'Both states experienced double-digit drops in buyer interest in the first quarter compared to 2024,' Chen said. 'Victoria and NSW are holding steady, but both states show signs of a potential softening. 'That's a trend we will watch over the next two quarters. 'For developers, there's a clear case to accelerate project launches to meet demand in Queensland. 'In Western Australia and South Australia, buyers may need new incentives to re-engage.' It comes after Villawood Properties announced that construction has begun on a new affordable housing development in Brisbane southern Redland Bay area. The $250 million Baya development will see 224 blocks made available, with a special $20,000 grant for essential workers who get on board. Villawood Properties CEO Alan Miller said an important part of this development was giving care workers access to affordable homes at a reasonable distance. 'The whole issue is the whole of southeast Queensland is pretty unsupplied with housing options,' he said. 'Getting people into housing in locations where they work is really the most important thing.' RELATED: New 220-home project gives essential workers $20k headstart amid housing crisis
Daily Telegraph
18 minutes ago
- Daily Telegraph
From $40k to 38 homes: how to build a $14m property empire
An Aussie property mogul who turned a measly $40K into a staggering 38-property empire is revealing his secrets to help battlers break into Australia's brutal housing market. A standout among property investing peers, Bharat Patel was once a cash-strapped international student at the University of Technology in Sydney and now sits on a jaw-dropping $14m asset base – buying five properties so far this year alone across Queensland, Tasmania, and Darwin. His bold claim is that even if you're scraping by on $50k a year right now, you can still buy property in Australia. MORE: Tradie's colossal 5.5m find in Aus backyard Million-dollar shock: Most Aussies now priced out of house market MORE: 56 suburbs where Aussies suffer most Inside slumlord's crumbling empire: derelict, unliveable, worth millions Mr Patel, who set up Cashflow Properties to help others repeat his success, believes a mindset change is required for his shockingly simple strategy of starting small but thinking big, leveraging the bank's money, zeroing in on growth markets – rinse and repeat 40 times. 'A strong mindset is important, even if you are someone who is currently on a low income $50,000 or $60,000, you can still you can buy property in Australia as long as you know where to buy your first property. If you have $30,000 to $40,000 yes, you can still buy property in Australia in 2025.' 'It's all about buying the cheaper property first, leverage from the bank, and you have to be ready to buy the next property where market is moving so you are buying in a growing market.' 'Your equity will be there to support you for the next property as long as you buy the right property at the right time with the right price tag.' MORE: Property shake-up: Big bank flags surprise trends since rate cuts Shock twist as former Virgin CEO to tear down $17m mansion For him it is all about buying cheaper first and then snowballing rather than going for $2-4m home first off and being stuck with it. 'Start small scale, and don't just sit back and relax. Use your opportunity if you have it.' 'It was extremely challenging for me to buy 10 properties initially in 10 years, and then it started getting easier because I knew the success, the resources, the markets which are going to boom, so that I made decisions quite easily.' His book called 'From an international student to owning 30 properties in Australia' is a step-by-step guide to building a passive income stream for retirement, and available from Amazon, Apple store, Google and in bookstores like Booktopia and Dymocks now. 'I'm purchasing my 38th property as we speak, but in the book I just mentioned my first 30 properties and how I started with almost nothing after my university degree at UTS, and then, slowly, one property at a time, I just built my property.' MORE: Aus cities break into global top 10 Inside new liberal leader's property portfolio 'The main purpose of the book is to give confidence to people who may be on a low salary, and are thinking that in Australia, they cannot buy any property – which is false. As long as you understand where your position allows you to buy something as a stepping stone, you can always build your property portfolio later.' He used a combination of purchase vehicles to lock in his last few five homes, buying one via superannuation, and four in personal names and a family trust he created. 'It depends on which property it is, where I am buying, and what the purpose is out of that property as well. The one I purchased in Darwin was from our family trust. Noone was buying in Darwin, but I can see there are lots of opportunities in Darwin nowadays.' He used superannuation to buy a Gladstone property in Queensland. 'It's doing extremely well, similar to what happened growth-wise in Townsville, also Rockhampton is also moving up as well.' Mr Patel said the affordable stock of properties across Queensland made it a strong target for investors. 'Obviously the whole of Queensland is on the next horizon in terms of infrastructure because of the Olympics coming, not only Brisbane but the majority of the regionals are also experiencing the boom. So because of the affordability, because of the low stock, and because not many properties are going to be available due to the construction crisis, it's definitely a growth corridor.' Mr Patel said he was now looking to diversify state-wise too, looking at Northern Territory and maybe one more in Tasmania, as well as commercial properties. 'My ultimate goal is to hit 50 properties, the sooner, the better. I will try. I will work on my debt consolidation strategy as well because obviously every property brings you debt. At some stage you have to consolidate your debt again, it is all good debt so depending on my age and retirement plan, I will start consolidating my debt after hitting 50 properties.' MORE REAL ESTATE NEWS
Daily Telegraph
18 minutes ago
- Daily Telegraph
Price shock: Luxe Aussie mansions now start at $2.52m
AustAsia's luxury property sales are booming with the price tag for a bougie home now starting at $2.52m – up 72 per cent from 10 years ago, new data shows. According to Ray White's second Australia's Luxury Report, Sydney remains Australia's most expensive market with buyers needing to find a cool $4m to afford a home with all the trimmings. The Gold Coast ranked second at $2.6m, pushing ahead of Melbourne's $2.49 million entry point. The Sunshine Coast in Queensland also ranked in the top five at $2.4m, followed by Brisbane and Perth, where the average luxury home now costs $2.1m. Meanwhile, the starting point for a bougie home in Adelaide and Canberra has climbed to $1.9m, with Darwin the only capital remaining to offer luxury living under $1m. RELATED Mansion that hosted Rolling Stones, Frank Sinatra sells for mega price Telenet CEO pays $12.1m 'record price' for house with no parking Record warehouse seller emerges as $15m buyer of rare penthouse Luxury homes are generally defined by their use of premium materials and exceptional finishes, including finest marble countertops, rare hardwood floors, and custom cabinetry. 'More than just a price point, luxury represents the pinnacle of craftsmanship, attention to detail, and scarcity within a market,' Ray White senior data analyst Atom Go Tian said. 'It varies dramatically by location; what's considered standard in Sydney might be exceptional elsewhere in Australia. 'From a national perspective, luxury properties in Australia now command prices exceeding $2.52 million, representing a 72 per cent increase from $1.49 million a decade ago.' RELATED: Rose Bay mansion with James Packer link has $90m hopes Mr Go Tian said a staggering $663 million changed hands across just 20 transactions over the past year, revealing not only where Australia's wealthiest choose to live, but also who they are and how their wealth was created. 'Eastern Sydney continues to be the place to be, with the Double Bay-Bellevue Hill and Rose Bay-Vaucluse-Watsons Bay enclaves accounting for more than half of all top transactions,' he said. 'Bellevue Hill alone appears five times on the list, while Vaucluse claims four spots. Beyond Sydney's harbour views, Melbourne's old-money suburbs of Toorak and Brighton each secured positions, while lifestyle destinations like Noosa Heads, Byron Bay, and Portsea also featured prominently.' MORE NEWS: Bulldozed Toorak block asks $40m+ for dirt The crown jewel of these transactions stands as 'Alcooringa,' a Spanish Mission-style residence perched majestically at 27 Victoria Road, Bellevue Hill. Top agent Ashley Bierman of Ray White Double Bay negotiated this off-market sale. The architectural masterpiece commanded an eye-watering $80 million; a figure that towers over even its closest competitor by $30 million. Mr Go Tian said expensive homes are changing hands in new ways. 'Today's ultra-luxury property buyers are primarily self-made business owners, especially those who built digital and tech companies, rather than corporate executives who once dominated this market,' he said. 'The wealth behind these purchases now comes from a much wider range of industries, with online businesses and technology ventures leading the way.' MORE NEWS: Musician snaps up one of nation's most popular homes An analysis of this year's top 20 sales reveals today's luxury purchasers are predominantly self-made entrepreneurs from diverse sectors including e-commerce, property development, financial services, fashion, and technology. The report shows the architectural and landscape features of Australia's most expensive homes reveal sophisticated investment priorities, with wellness facilities, sustainable elements, and indoor-outdoor integration now considered essential rather than optional. Properties with comprehensive wellness features command price premiums of 10-25 per cent, reflecting a fundamental shift in what constitutes luxury in today's market.
