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The development industry inhales information and produces relentless analysis on both the buying and selling side in order to find the elusive utopian deal based on research.

Research is reactive; why base your largest lifetime purchase or your company balance sheet on what happened down the road six months ago? Increasingly purchasers are more informed than the consultants providing the information, and the purchaser feedback is not always accurately relayed back to base.

Are we really providing the market with product they want?

Understanding acquisition cost drives any feasibility. If we consistently delivered product based on demand, knowing exactly what that demand is, then hypothetically every site stacks up and what is considered unaffordable is now affordable.

Real time online data is the ability to measure human behaviour; patterns and trends. Capturing and qualifying customer feedback is the front line of defence to resolve issues before they become a problem.

To quote Bear Bryant “Offense sells tickets, but defence wins championships.” Property buyers across all classifications are taking 6 months to 2 years to search for, and purchase a property. This will include enquiring for over 200 established, new and off the plan projects, and on average 40 visits with agents and display suites.

Sheer exhaustion over the buying process is a nuisance for prospective buyers, but understanding these prospective buyers is key to capturing the market. 

The majority of first home buyers are female in the 28-35 age range, with most of the initial deposit saved, limited or no credit card debt and with guardians prepared to gift or lend the gap. Males alternatively are 32-45 with part of the initial deposit saved, credit card debt and based on the track record of financial responsibility lack guardian financial support.

First home buyers are educated from the banking guidelines to ideally require a 1 bedroom apartment with internal sizes from a minimum of 50sqm, and this is exactly what they want.

Downsizers – simply – there is not nearly enough product in the marketplace for demand. 120 sqm 2 bed + Study or 3 bedroom and 2 bathroom, master with ensuite and second bathroom with separate WC essentially making is a pseudo 2.5 bathroom, the space saving going towards a butler pantry or suit case storage – because downsizers travel.

Reinvigorated with travel over their 2 year property search lifespan also results in increased flexibility with neighbourhood location for downsizers - the age group has lowered in the past 12 months with 40% being in the 45-55 age bracket.

We could wax lyrical all day on real time market data, but why wouldn’t we? Imagine being in a position to capture a live database, qualify their needs &amp; wants and deliver straight back to that very database the very thing they want.

Now that is utopia, for buyers, sellers and the market.

To receive the July Quarter State of the Market Report please fill in form below.
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cameron

Real Time Market Data: Property Utopia For Buyers & Sellers

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Climbing the property ladder – it is a term used to depict a consumer’s ability to enter the market on the first rung of affordability, climb the ladder over time through capital growth and finish at the top of the ladder in the ultimate luxurious and expensive property.

Property is a long term game, slow and steady wins the race however with regards to the current economic climate, the property ladder for the majority of first home buyers is akin to climbing Mount Everest.

Melbourne’s median apartment price for the June 2015 quarter was $443,549; for a first home buyer this equates to having saved a 10% deposit of $44,354.90 or $34,354.90 when taking into consideration the First Home Owner Grant (FHOG) of $10,000.

The FHOG scheme was introduced on the 1st of July 2000 to offset the effect of GST on home ownership. It is a national scheme funded by the states and territories and administered under their own legislation. A purchaser must live in the property for 12 months continuously within 12 months of settlement.

Capital growth within Melbourne property markets has meant that even with the assistance of the FHOG, purchasers are having to manage not only their budgets but their product and location expectations. The ability to stay in the family home in order to accumulate a 10% deposit is proving a race against time, the speed at which parents are downsizing is outpacing the rate at which their children can save.

So what and where does $443,549 buy you right now in Melbourne?

It varies considerably: from a 2 bedroom 1 bathroom and car park in Footscray, a 2 bedroom 2 bathroom and car park in Maribyrnong, a 1 bedroom 1 bathroom and car park in Collingwood, 1 bedroom 1 bathroom and stacker in Windsor, 1 bedroom 1 bathroom with no car space in South Yarra, 2 bed 1 bathroom and car park in Cheltenham to a 2 bed 2 bathroom and car park in Bundoora.

With the exception of Footscray, the location or rather the distance to Melbourne’s CBD has a direct impact on affordability.

Looking a little deeper into the demographics, we at My Real Estate Mate are seeing 90% of all first home owner demand coming from younger females in the 25-35 age bracket with budgets of $420,000 to $500,000. By way of comparison, the enquiry from males is a slightly older demographic between the ages of 32 and 40 with nominated budgets are lower in the $380,000 to $450,000 range.

The top five first home buyer enquiry suburbs, year-to-date 2015:

<ol>
<li>Albert Park</li>
	<li>St Kilda</li>
	<li>Hawthorn</li>
	<li>South Yarra</li>
	<li>South Melbourne</li>
</ol>
Location desire versus budget reality: the common demand theme is Bayside and inner East/South East. It is conceivable that managing enquiry expectations from a $443,549 property in Albert Park to a more affordable price point in say Cheltenham, comes down to accepting that the suburb a first home buyer can afford to purchase in - without having a negative impact on day-to-day lifestyle - is located two to four suburbs from their desired location.

Climbing the property ladder in Melbourne is achievable and to climb the first rung is to alter your location expectations. Melbourne is the world’s most liveable city in the luckiest country in the world, time will tell for how much longer we remain affordable.

Cameron Clarke is principal and founder of My Real Estate Mate and the Apartment Register brand.

Lead image credit: <a href="https://en.wikipedia.org/wiki/Albert_Park_and_Lake">Wikipedia</a>
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First home buyers and the property ladder

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’The next property hot spot!’ is a real estate catchcry used to unveil a suburb in which there is a window of opportunity to purchase property prior to that suburb experiencing a rise in capital value.

So where exactly is the next suburb ‘hot spot’ going to be? Do hot spots really exist and if they do what are the driving forces behind a particular suburb's growth in popularity?

More often than not a hot spot is where an influx of population occurs as a result of new and established infrastructure, amenity, education and therefore opportunity. Education is Victoria’s number 1 export and a fine example of an historical hot spot are the suburbs surrounding Melbourne University, namely Carlton and Fitzroy. No longer hot spots, they are now classified as blue chip suburbs as they have experienced capital growth, have strong rental demand and are tightly held.

So I want to purchase in Carlton but can’t due to supply or budget, so where to next? The adjoining suburbs of North Melbourne, West Melbourne and north to Brunswick; these suburbs are a natural progression from Carlton where development sites have been exhausted and developers are moving toward the aforementioned suburbs to acquire development sites where supply can be delivered to market.

Staying on the education theme, suburbs surrounding Monash University Campuses such as Caulfield and Clayton are hot spots as they are generally established housing areas and going through a transition towards medium density dwelling development.

Now to the age-old north versus south of the river: Richmond versus South Yarra. Never the twain shall meet, the battle used to be on like Donkey Kong. Now the heavyweight suburbs are Abbotsford and Windsor not only as the extension of demand from Richmond to Abbotsford and South Yarra to Windsor but for everything in between – prospective purchasers now consider all four suburbs as part of their selection criteria.

Established residential suburbs can also be classified as hot spots. To coin a phrase ‘property swap’ suburb corridors of Bundoora + Heidelberg and Preston + Coburg are hot spots. ‘Property swap’ is a scenario where parents are contemplating downsizing in the future as their children desire to enter the property market, however due to affordability of the established property market in that particular suburb, only an apartment seems affordable.

The collective family housing strategy then becomes an apartment being bought in close proximity to the family home, the children move into the apartment and at the point where the parents wish to begin downsizing and the children wish to expand their families, they swap properties.

Looking elsewhere and the west is rising, but where exactly are the suburb's market demand origins? This term is used flippantly however in this circumstance the hipster or cultural creative is one - a community of people embracing rejuvenation of the urban environment - have moved from Collingwood to Brunswick and Northcote and they now seek Footscray's affordability.

Hipster and cultural creatives are adaptable, analytical &amp; intelligent placing them at the forefront of the curve, included is this scenario is that Footscray is 6kms from the Melbourne CBD, has 2 Victorian University campuses and 3 train stations which frankly makes it a no brainer.

Skipping back over the river and demand for the Albert Park - St Kilda - Brighton corridor is continually steady for the fact that the remaining apartment development sites are few and far between. Demand flow moves as follows for first home buyer and first time investor based on affordability to suburbs such as Cheltenham. Second time owner occupier and investor property purchasers look closer to Melbourne’s CBD: to South Melbourne and the extension thereof into Australia’s largest urban renewal area Fishermans Bend.

We have not even touched upon South Morang, Frankston or Dandenong as prospective outer suburban hot spots. Ultimately though a prospective buyer's needs and desires are factors but what buyers really desire is affordability close to existing or new infrastructure and amenity. A ‘Property Swap’ is one thing, generations of renters is another.

Cameron Clarke is the principal and founder of My Real Estate Mate and Apartment Register.
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Property Hotspots: Fashion or Affordability?

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Question: Where is the source of Victorian apartment demand?

Answer: Local Victorian owner occupiers and increasingly investment demand is coming from New South Wales driven by value proposition and offshore buyers with permanent residency as well as expats are taking advantage of the recent exchange rate variance.

The South-East Corridor with suburbs close to school zones and train stations such as Caulfield, Bentleigh and Glen Huntly continue to compete with inner northern suburbs of Collingwood, Brunswick and North Melbourne. In these locations investors and first home buyers have been looking for 1 bedroom apartments with a minimum 48 sqm size in the $450K-$500K price bracket and couples in the $540K-$620K range with a preference for 66-70 sqm product.

Price point orientated purchasers are setting their sights on inner-city suburbs; defined as within 6kms to the CBD - interestingly potential purchasers are amenable with either the Northern or Southern side of the CBD, previously a North/South 'Side of the River' option would not have been considered.

North Melbourne and West Melbourne will go hand in hand with several development sites transacted on and off market in June and July of this year. The depth of market for Brunswick East &amp; West versus Brunswick proper will be tested with several launches coming late 3rd quarter.

Recent off-market boutique project launches in Elsternwick and Bentleigh have been embraced by the local owner occupier market and upcoming Windsor apex projects are enticing buyers looking at South Yarra and St Kilda.

Couples and young families are embracing vertical integrated communities with proximity to the CBD in South Melbourne and adjoining Fishermans Bend due to the ever increasing realisation of commute times constraining lifestyle choices. We have seen product demand for 2-3 bedroom, 2 bathroom, 1 car park with nominated budgets ranging from $650,000 to $1 million.

We forsee the lack of new product in Port Melbourne and the strength of demand for South Melbourne and St Kilda as driving interest in Fishermans Bend on top of being the Southbank development extension; the precinct will have the same impact on the market recently experienced in Fortitude Valley, Qld.

Downsizer demand can be characterised by looking at 'promenade' streets including St Kilda Road, Queens Road, Fitzroy Street and projects with view lines opposite parks in the Eastern suburbs of Kew, Hawthorn and South Yarra. The general product size is for 2 bedroom + study/optional 3rd bedroom, 2 bathrooms and 1 car in price bands of $800K - $900K, $1.1 - $1.2 million and $1.5 - $1.8 million.

Interesting that the downsizer market request 1 car park, many couples placing preference on proximity of infrastructure and amenity to not require a second car. Projects just launched and coming to market in Spring will number 6, the success of projects such as Arthur have set the benchmark in this product and location segment.

Value orientated hot spots such as Cairnlea where the ball park price point of a 1 bedroom is $270K-$310K and 2 bedroom from $350K-$380K along with renewed enthusiasm for projects in Footscray where recent Joseph Road Precinct launches are having strong market absorption.

Traditional established housing suburbs such as Bundoora are appealing to local residents where parents may look to downsize and their children are starting a family - we see the scenario of property swaps being a common theme in areas such as this.

Cameron Clarke is the Principal and Founder of My Real Estate Mate (MREM). Apartment Register is an-house brand of MREM and an Apartments.com.au joint-venture organisation.

Lead image/render credit: Laurence Dragomir
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State of the market in Victoria: apartment demand and supply

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Do you have a 10% cash deposit? 90% have, 10% have not.

Apartment Register has received and qualified 238 first home buyer (FHB) enquiries to date in 2015, so where or who pays for the deposit and what is the length of time taken to save for the deposit?

First home buyers understand time is of essence to enter the market and it is a good time to do so. Interest rates are low, apartment supply is reasonable, product choice and quality continues to improve. The timing might be right but the deciding factor is the ability to save or already have at hand 10% cash; that is a $45,000 deposit on a $450,000 off the plan apartment.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/deposit_source.png" rel="gallery-all" title="Source: The Real Estate Institute of Australia November 2014"><img alt="" class="image-article-full-width-580px" height="365" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/deposit_source.png?itok=tugPGwfH" title="Source: The Real Estate Institute of Australia November 2014" width="580"></a>

<figcaption>Source: The Real Estate Institute of Australia November 2014</figcaption></figure>The typical Australian income after tax is $43,100 for a single person. Of the first home buyer enquiries who nominate as single, 70% are female aged between 25-35 and 30% male aged between 28 and 40. With an ideal budget price range of between $400,000 to $450,000. 50% of the first home buyers currently reside at their parent’s residence and have deposit assistance from their parents, with the remaining currently renting with their partner or a friend and have saved the deposit without family assistance.

When asked the average time frame to save the current amount the typical response is 5-6 years. Are we living above our means? Our embrace of lifestyle living is a choice and an expensive one at that.

Australian household credit card debt is growing at 5% per annum. Lifestyle is a direct result of location, access to and ease of use of local suburb amenity and facilities. However living the lifestyle comes at a cost, the realty is you are out more, spending more.

Property ownership is both a privilege and a responsibility, and a move that which requires long term planning. Factoring into account the typical 5-6 year timeframe required to save a necessary deposit, prospective first home buyers should consider the ramifications of not entering the market when they possess the means to do so. To enter two, three, six years down the track will most likely result in the FHB's holding comparatively higher product expectations with an associated product cost increase.

The adage of getting you foot in the door rings true in the Melbourne property market.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/first-appartment-essential-tech-gadgets.jpg" rel="gallery-all" title="Image courtesy apartmentagent.co.nz"><img alt="" class="image-article-full-width-580px" height="326" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/first-appartment-essential-tech-gadgets.jpg?itok=RjNEzWog" title="Image courtesy apartmentagent.co.nz" width="580"></a>

<figcaption>Image courtesy apartmentagent.co.nz</figcaption></figure>How do you educate the FHB market on the importance of purchasing property? My Real Estate Mate recently published the process of <a href="/new-apartments">how to buy an off the plan apartment</a> in response from our clients wanting to understand the intricacies of the off the plan buying process. However, clarifying the process to purchase and actually having the ability to purchase are two very different things.

Property development is the management of time, specifically the cost of time; time effects supply which is the main driver of affordability. The national debate on housing affordability requires more than a knee jerk suggestion of early access to and use of Self Managed Superannuation Funds (SMSF) for FHB’s. The time taken to set up a SMSF, the cost, regulations and audit requirements are prohibitive for many, FHB’s included.

Generation Rent is a term commonly used in Europe, it depicts the economic snap shot of relative level of wages, the cost of living and supply of affordable housing product. Credit card debt will continue to grow, the reliance or presumed inter-generation transfer of wealth will be slower and reduced as we are living longer and the cost of aged care escalates. Generation Rent is on Australia’s door step.
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Mo'Money Mo'Money - Where is the money coming from?

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2015 has kicked off with an abundance of off the plan apartment enquiry on Apartment Register, across Melbourne’s inner city suburbs. Following our article on <a href="/news/my-real-estate-mate-overseas-buyers-and-the-allure-of-australia">overseas buyer demand drivers</a>, we thought it best to comment on the local market enquiry year to date.

Apartment Register’s 400 enquiry sample has been 90% local owner-occupier, comprised of first home buyer (FHB) and first time off the plan buyers; the remaining 10% is local and overseas investors who typically own more than one property.

The common theme is the preference to purchase in the inner ring suburbs considered to be within 10km of Melbourne CBD: close to their place of work, friendships groups and public transport. For the most part, the buying experience is overwhelming, navigating through pricing, floor plans and marketing material with the average purchaser enquiring between five and fifteen projects over a three to six month search timeline.

The trend for owner-occupier enquiry is the desire to live in what they phrase as a ‘boutique development’, considered to be that of less than 80 apartments with the ideal preferred number at 50 apartments. Owner-occupiers prefer lower annual body corporate fees, as they have existing recreation memberships and wish to settle within a 6 to 18 month settlement time line from date of enquiry, with an 18 month settlement period the maximum amount of time prepared to wait, prior to moving in.

Single first home buyer enquiry is 70% female (age bracket of 25-35) and 30% male (age bracket of 28-40) with a budget of $400-$450K for a 1 bedroom, 1 bathroom with car park (preferred over car stacking systems) at a minimum size of 45 sqm. 50% of the first home buyers currently reside at their parent’s residence and have assistance from the parents, with the remaining currently renting with a partner or friend and have saved the 10% deposit without family assistance.

First home buyer couples in the 28-34 age bracket have a product preference for 2 bedroom, 1.5 bathroom with car park configuration in the $500-$700K price bracket. Selection criteria includes natural light to bedrooms, ample ventilation and security system.

First time local investors selection criteria is for 2 bedroom, 2 bathroom and car park due to rental yield and flexibility to rent to a couple or friends. The proximity to transport and the number of the apartments within the developments mimics that if they were buying to live in.

The enquiry for over 55 year old downsizers is a healthy demand for 2 bedroom and study, 2 bathroom and car park at a minimum size of 80 sqm, with a budget of $700K to $900K. The attraction is the cost of apartment entry, comparable to a townhouse product with lower entry cost and lack of stairs. Half of the enquiry of over 55 year olds still have a child living on premise, which does not deter their timing to sell the family home and downsize within the next 12-24 months.

At a suburb level, the trend in our enquiry data indicates buyers look for suburb corridors and are prepared to choose between three to four suburbs within that corridor area. For example, first preference for many is Fitzroy and Carlton, which depending on available products, clients are prepared to extend their criteria to North Melbourne or Collingwood.

On a suburb level, South Melbourne is the number one requested suburb - with Fishermans Bend gathering momentum with potential buyers - communicating that a complete suburb is not required for venturing beyond for schools, amenities and other services.

First time overseas investors prefer the Melbourne CBD as an investment, or for potential future use by the family when studying in Melbourne for tertiary education. Experienced overseas investors prefer the North Melbourne and Carlton precinct for proximity to Melbourne University and the Southbank precinct apartments for the Crown Entertainment Complex, along with access to the Botanical Gardens and Arts Precinct. Our enquiry indicates the even trend for 1 bed/1 bathroom products up to $500K and 2 bed/2 bathroom products up to $650K.

My Real Estate Mate through the Apartment Register platform will regularly comment on enquiry demand trends. Developers can contact us at any time for feedback on product design and general apartment demand. We hope you have found this snapshot helpful and look forward to hearing from you.
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Buyer sentiment: What the market is telling us

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“Fresh air and fresh produce” was the response from the managing director of a major Mainland Chinese company who enquired on Apartment Register this week when I asked him “what was the main driving motivational factor to apply for and gain residency in Australia over Canada or USA?”. Can it be that simple? Yes, it can.

Overseas purchasers of property in Australia is not a recent phenomenon. We are the country of choice for many, the origination of overseas buyers in Australian cities has historically been one of proximity. South Africans in Perth to New Zealanders in Brisbane, people like to buy where they like to holiday, where they feel safe and secure and yes, where the air and produce is fresh.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/migration-to-australia.jpg" rel="gallery-all" title="Current migration trends. Image courtesy skilledmigration.govspace.gov.au"><img alt="" class="image-article-full-width-580px" height="290" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/migration-to-australia.jpg?itok=ME5vkhGd" title="Current migration trends. Image courtesy skilledmigration.govspace.gov.au" width="580"></a>

<figcaption>Current migration trends. Image courtesy skilledmigration.govspace.gov.au</figcaption></figure>Apartment Register’s international enquiry database indicates that the top four motivations of overseas buyers to Australia are:

<ul>
<li>Investment</li>
	<li>Education</li>
	<li>Lifestyle</li>
	<li>Emigration</li>
</ul>
The purchase of residential real estate by foreign investors is regulated by the Foreign Investment Review Board (FIRB). Overseas investors are allowed to purchase off the plan residential property provided they have applied for and been granted FIRB approval.

Chinese households typically have strong balance sheets and are lowly leveraged, a typical household holds as much as a quarter of their assets in cash deposits versus Australia’s annual household credit card growth rate of on average 5% per annum. Chinese authorities have sought to control the rise of property prices by restricting the purchases of second and third homes with higher minimum deposits and capital gains tax leaving the economic option to build family wealth through property an offshore rather than local strategy.

The off the plan deposit rate of 10% of the total purchase price is an attractive proposition combined with stamp duty savings and depreciation.

Education is Victoria’s largest export. In 2014 the total number of tertiary students in Victoria was 344,658 of which 231,714 were local and 112,944 international. The exchange rate and interest rate are considerations for international purchasers, both at time of writing are conducive for parents of current and future international students to purchase for their children while studying and also for family holiday accommodation.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/melbourne-on-the-yarra.jpg" rel="gallery-all" title="Melbourne from the Yarra. Image courtesy Back of Chapel"><img alt="" class="image-article-full-width-580px" height="387" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/melbourne-on-the-yarra.jpg?itok=0Ypnzm0U" title="Melbourne from the Yarra. Image courtesy Back of Chapel" width="580"></a>

<figcaption>Melbourne from the Yarra. Image courtesy Back of Chapel</figcaption></figure>Lifestyle and quality of life is paramount, fresh air and fresh produce sounds common place but for many this is an unattainable and unaffordable luxury in their home towns. Australia’s gun laws are perceived by overseas buyers as being enforced and stricter than those in Canada or America, the two other countries often being considered for property investment.

Long term strategic family plans often referred to by our clients as their ‘100 year plan’ result in decisions being made not only for themselves and their children but for their grand children. Commercial property like residential property is gaining popularity amongst overseas buyers with 32% of the Australian office property purchases in the 12 months to December 2014 bought by foreign investors.

‘The Lucky Country’ is often used as a through away line and in the context of Australia’s wide open space, prosperity and weather, so yes, it really is as simple as fresh produce and fresh air.

Lead image courtesy UWS.
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My Real Estate Mate: Overseas buyers and the allure of Australia

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As crazy as it sounds, settling a new off the plan apartment requires you to be even more organised then when you purchased. It is an exciting time and you are well on your way to reap the advantages of apartment ownership, such as:

<ul>
<li>Freedom and flexibility.</li>
	<li>Predictability and stability.</li>
	<li>Accumulating capital and equity.</li>
</ul>
A quick recap: you have picked your apartment out with Apartment Register, signed the contract of sale and paid your 10% deposit, and the construction of the development has commenced. Now what do I do? Depending on the size of the building, construction will take on average 18 months to two years before you can settle and move in or rent the apartment.

Over the course of the construction of your off the plan apartment, My Real Estate Mate will update you with photos and construction commentary from the builder and developer. It is a fascinating and rewarding time to watch one of your lifetime's largest purchases be built from the ground up.

The settlement process involves every person you interacted with when purchasing the apartment, to ensure the process runs smoothly. The following tasks are required to be completed:

<ol>
<li>Final inspection.</li>
	<li>Certificate of Occupancy.</li>
	<li>Settlement time and date confirmation.</li>
	<li>Valuation report.</li>
	<li>Statement of Adjustments.</li>
	<li>Transfer of funds.</li>
	<li>Registration of the title / transfer of land.</li>
	<li>Handover packet.</li>
</ol>
The handover packet will include your keys, appliance guarantees and other information, such as the appointed body corporate manager. The body corporate will require a number of apartment owners within the development to be on the committee which manages operational matters of the development. The body corporate manager will hold an annual general meeting, which you can attend to be kept up to date with items such as building maintenance.

Effective the day of settlement, Apartment Register recommends connecting all apartment services such as electricity and water and commencing insurances. You don’t want to move in in the dark! As a new owner, you will need to book the time and date to move in. This is to ensure a lift is allocated to ensure smooth, stress free day. Depending on the development move in schedule, you may only be allowed to move in on a weekday.

If you are an investor, you will need to appoint a rental agent. Apartment Register recommends interviewing local agents as they know the area and may have potential tenants ready to move in. You will need to sign a rental agreement with the agent, along with placing an advertisement on various real estate websites.

The rental agent will then hold open days throughout the week to gain interest and take apartment application forms from prospective tenants, who will have to provide information on their current employment status, referees and rental history. You as the vendor choose your tenant from the application pool and then enter into a tenancy agreement.

Your rental agent will provide you with regular apartment inspection reports to ensure the tenant is looking after the apartment, along with monthly or fortnightly financial statements.

My Real Estate Mate hopes you found our summer reading series useful and remember to be nice to your neighbour! Our previous articles in this series:

<ul>
<li><a href="/news/my-real-estate-mate-summer-reading-series-purchasing-off-the-plan-apartments">Purchasing off the plan apartments</a></li>
	<li><a href="/guides">Buying off the plan: the first move</a></li>
	<li><a href="/guides">Buying off the plan: the nitty gritty</a></li>
</ul>
Apartment Register is a value added service offering our clients first pick of apartments in new off the plan developments prior to public launch. Register here and we will be in contact with you straight away.

Cameron Clarke is licensed real estate agent and managing director of My Real Estate Mate and Apartment Register; a joint venture partner of Alamar AV Communications Pty Ltd, publisher of Apartments.com.au. Each Saturday over summer Cameron will provide provide commentary and tips on all things apartments.

Cameron's published commentary is not designed to be taken as financial advice and should you wish to register with Apartment Register, Apartments.com.au strongly recommends registrants consider their financial position and do their own research before entering into contracts for sale.
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My Real Estate Mate summer reading series: Buying off the plan - the finished product

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Calculator ready! In our third instalment of Apartment Register’s Summer Reading Series we will identify key investor considerations.

You will often hear the term ‘vacancy rate’ which is a calculation based on tenanted dwelling within an area and is used as a tool to determine rental demand. A 3% vacancy rate is the point at which a market is set to be evenly balance between landlords and renters, that is equilibrium.

Calculating an off the plan property rental yield by taking your property's purchase price, and the yearly rent (weekly rent times by 52). Divide the yearly rent by the purchase price and times the result by 100 to get yourself a percentage. This percentage is your gross rental yield. For example:

<ul>
<li>Purchase Price: $500,000</li>
	<li>Weekly Rent: $465</li>
	<li>Annual Rental Income: $24,180</li>
	<li>Calculation: $24,180 / $500,000 * 100</li>
	<li>Gross Rental Yield = 4.83%</li>
</ul>
In order to calculate the net rental return, you will need to subtract other associated expenses such as the annual body corporate fee.

The body corporate is an annual fee for the maintenance and insurance of all public areas of the building. This may be cleaning the public areas to maintaining the lifts and if the building has a swimming pool or gym, the cost to clean and manage these services.

New off the plan apartment developers will typically provide you with marketing collateral outlining the position and proximity to amenity, as well as independent research information including demographic and infrastructure data and analysis, that presents all the facts and figures to ensure a purchaser can make an informed decision.

Included in the information packet is a deprecation schedule. Inclusions in new off the plan apartments are able to be depreciated; indicative depreciation schedules are supplied by developers at the point of sale and a company such as BMT Quantity Surveyors can provide a depreciation schedule specifically for your apartment.

The Victorian Government offers a stamp duty concession when you purchase property off the plan. Effectively as a purchaser you pay duty on the improved value of the land, that is, the completed construction value including GST as at the contract date. As you are buying off the plan, in most cases construction will not yet have started at the date of contract, therefore the percentage saved by purchasing off the plan versus purchasing the same completed apartment is significant.

Inclusions, also referred to as fixtures and fittings, includes items such as the brand of kitchen oven to the type of benchtop, be it stone or stainless steel. There is no wrong or right appliance type or brand within an apartment, it will have been chosen by the interior decorator and architect to best reflect the apartment building brand and positioning.

When Purchasing a new off the plan apartment you will have to choose an internal colour preference - usually from two colour palates - and this will invriably come down to a choice of a light theme and a dark theme. The colour variations will often include the colour of the carpet or floorboards, kitchen bench and splash back to the bathroom wall tiling.

Ceiling heights will vary from some rooms: this is due to the air conditioning type, ventilation from kitchen and bathroom, all those pipes need to fit somewhere so it is just something to be aware of and is perfectly normal to see a variance in ceiling heights listed.

My Real Estate Mate always recommend you review the Contract of Sale and instruct your solicitor to do so also. Items we recommend to check include the inclusion list, and that the floor plan of the marketing material is the same as in the contract of sale. Also check the nomination clause, as you might purchase the apartment in your own name and when you settle may want to allocate the asset to your superannuation fund. You will need to sign three copies of the contract of sale: a copy will be for your record, the developer and solicitor. Make sure you keep it in a safe place for your records, your bank will also request a copy for settlement.

If you are an investor and searching for healthy rental yield and capital growth off the plan apartment opportunities, feel free to contact My Real Estate Mate through Apartment Register on Apartments.com.au and we will be in contact with you straight away.

Cameron Clarke is licensed real estate agent and managing director of My Real Estate Mate and Apartment Register; a joint venture partner of Alamar AV Communications Pty Ltd, publisher of Apartments.com.au. Each Saturday over summer Cameron will provide provide commentary and tips on all things apartments.

Cameron's published commentary is not designed to be taken as financial advice and should you wish to register with Apartment Register, Apartments.com.au strongly recommends registrants consider their financial position and do their own research before entering into contracts for sale.

Lead image courtesy Pixabay.
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My Real Estate Mate summer reading series: Buying off the plan: the nitty gritty

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Time is of essence! Have you ever enquired for an apartment project on the Internet, only to discover by the time you speak to the real estate agent - or visit the display suite - the project is almost sold out?

Apartment Register ensures our client’s receive first priority pick in new off the plan developments prior to public launch. Having said that, you need to be organised with a clearly defined apartment selection criteria and understanding of your financial capacity, so you will be able to ascertain a development's suitability to make an informed purchase decision.

When searching, many purchasers search for a property first, find an apartment they would like to buy and then go to the bank, only to find out the price is out of their budget. Your bank will be able to give an indication - based on the amount of money saved and your income - of the price point you can realistically afford. Keep in mind your health, lifestyle and spending patterns.

To purchase an off the plan apartment, you are required to pay a 10% cash deposit and sign a contract of sale. The remaining 90% of the purchase price is paid at settlement; that is, on completion of construction and certificate of occupancy.

If you are looking at buying a $450,000 apartment, you would need to have $45,000 (for the 10% deposit) and pay the remaining 90% or $405,000 at settlement, which is typically 18 months to two years from commencing construction.

Once you have a budget, you can determine your apartment selection criteria. Everyone’s position is different, it is normal to turn to family and friends for advice; however if they don’t own a property they may not be aware of all that is involved in purchasing a new off the plan apartment, nor they are in your current lifestyle and income bracket or have the amount of savings you do.

Remember, it will be one of your largest lifetime decisions, it needs to work for you, not your friends and family.

Your suburb location and size of the apartment is the main price point driver. Keep in mind your first choice suburb to live in may not be in your budget, however the surrounding area suburbs can be a good alternative.

"Location Leap Frog" is the term we use for wanting to live in a location that is tightly held; the zoning or council restrictions may limit building apartments due to height constraints, and therefore may not allow for apartment development which offers limited opportunity to buy in these areas.

At Apartment Register, we have many enquiries for new off the plan apartments in Albert Park and Middle Park, both of which are very tightly held and low-rise suburbs, so you would need to Leap Frog to suburbs within the area, such as South Melbourne or Fishermans Bend.

Do you require a 1, 2 or 3 bedroom apartment? Internal sizes of apartments vary and are calculated per square metre (per sqm) basis, the terrace or balcony is known as external space and is also measured in square metres. The price of an apartment is reflected on the total internal size.

The size guide below is general and will vary on how many bathrooms or study you require:

<ul>
<li>1 bedroom = 42sqm to 50sqm</li>
	<li>2 bedroom = 56sqm to 72sqm</li>
	<li>3 bedroom = 75sqm to 100sqm+</li>
</ul>
In keeping with the mathematics theme, <a href="/guides">our next article</a> in the Apartment Register summer reading series will touch on rental yield and depreciation.

Feel free to contact My Real Estate Mate through Apartment Register on Apartments.com.au and we will be in contact with you straight away.

Cameron Clarke is licensed real estate agent and managing director of My Real Estate Mate and Apartment Register; a joint venture partner of Alamar AV Communications Pty Ltd, publisher of Apartments.com.au. Each Saturday over summer Cameron will provide provide commentary and tips on all things apartments.

Cameron's published commentary is not designed to be taken as financial advice and should you wish to register with Apartment Register, Apartments.com.au strongly recommends registrants consider their financial position and do their own research before entering into contracts for sale.
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My Real Estate Mate summer reading series: Buying off the plan - the first move

Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

&nbsp;

&nbsp;

The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

Cameron Clarke

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