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The construction and tourism industries are set to be the biggest beneficiaries of the Gold Coast's successful bid for the 2018 Commonwealth Games, but the ICT, transport and services industries are all set to receive a boost as well.

Both the state government and business leaders welcomed the announcement on the weekend, which is expected to give the state an economic boost worth $2 billion and create 30,000 jobs over the next seven years.
Graham Cuthbert, executive director of the Queensland Master Builders' Association, says a large portion of the spending will be put to the construction industry with $500 million of investment expected over the next seven years.
"Certainly for the area it will be a huge benefit, there is a fair amount of construction to be done, both on venues on the Gold Coast and in Brisbane," he says.
The games will require new sporting venues on the Gold Coast, along with accommodation for athletes, along with upgrades to existing facilities in Brisbane as well, Cuthbert said.
"But I think the big key is the flow on it will have to accommodation for tourists, corner shops, corner little medical centres, all the infrastructure you get when construction boosts."
Cuthbert says tourism and construction are "absolutely linked", so the two industries will see benefits at the same time, but also says other industries such as information technology and retail will see bigger benefits as well.
"The light manufacturing stuff will be required, retail is there, there is a spin across the entire city. For every onsite job we do, we create more for other businesses."
Games consultant and entrepreneur Andrew Bell says those 30,000 jobs will appear across a number of industries, including in technology and retail.
"Across a very broad base, there will be a lot of required services. Even talking to universities, they are cranking up and doing a whole lot of work in terms of supporting new positions created within that."
"Areas that people wouldn't have imagined would get benefits. And not just limited, there is that knock on effect, so cab drivers and restaurants will see things start to build and as the state starts to focus on it over the years to come."
According to a report published by the Commonwealth Games Federation, budgets have been set aside for various elements of the games that may very well include the use of local firms and services businesses.
The games will see money spent on new information systems, telecommunications and other technologies, including the need for broadcasting equipment, installation of communication infrastructure and operating costs.
Money has also been set aside for various traffic management costs.
Other money has been set aside for medical services, catering and transport, while millions have been set aside for security costs as well. Money has also been set aside for merchandise costs.
Premier Anna Bligh said in a statement the bid would deliver up to $2 billion in benefits, saying the event would bring "superb tourism opportunities" to the Gold Coast.
"The Games will also act as a catalyst to fast track infrastructure development," Bligh said.
The Gold Coast has been suffering from low tourism numbers, due in part to the higher Australian dollar and low consumer sentiment.
"We have made a promise to the Commonwealth Games Federation and will deliver on this promise."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/economy/20111114-construction-tourism-not-the-only-industries-to-see-benefits-from-gold-coast-commonwealth-games">SmartCompany</a>.
 
 
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Construction, tourism not the only industries to benefit from Gold Coast Commonwealth Games 

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Auction results finally improved slightly over the weekend, fuelling hopes the latest interest rate cute has spurred first home buyers back into the market and prices are once again on the rise. But experts have warned that any property recovery won't gain real momentum until 2012.

The improved auctions results came after a number of other pieces of positive data. The proportion of first home buyers in the market rose to its highest in nearly a year and a half, and recent RP Data figures showed prices only fell by 0.2% in September – the lowest fall since February.
APM economist Andrew Wilson says while the data is a good sign property markets are improving, it may be a few months until the recovery gains strength.
"The market closes down over January because the industry itself closes down. Certainly there are holiday sales and a few bits and pieces, but people who sell during that period tend to be people that are forced to do so."
"It's just a seasonal effect. Even in the boom period, you see a tapering off in prices growth, but that tends to be picked up in the following quarter. You're going to have a lot of build-up in January and February towards March."
The prospect of a delayed benefit comes as the spring selling season enters its final few weeks. Investors had hoped the season would see a rise in the number of buyers, but an increase in the number of listings has dampened any hopes of price rises.
Instead, new data showing a rise in construction activity and housing commitments has given investors hope. But as Wilson points out, the market is about to shut down and any benefit won't be seen until February or March – by which time another interest rate cut may have occurred, according to some commentators.
"A lot of people make a decision to sell in February, so you have that pre-Easter rush. There's an advertising campaign a month or so before that, so it's a fairly fertile decision period for those going into property."
The weekend's auction results gel with the prospect of a recovering market. Sydney recorded a 57% clearance rate, as buyers rushed in to take advantage of the state's expiring first home owner benefits.
Melbourne had a 54% clearance rate, with 713 auctions, while Brisbane and Adelaide recorded results of 47% and 38% respectively.
Wilson says the results show a good recovery in Sydney, raising prospects of higher activity in February-March 2012.
"There is no doubt that Sydney has improved, after being flat for the year. It's certainly showing signs of price growth and improvements in both sales and buying activity."
"Over the next few week as we get more listings, these will be the tests for the market. As we see higher numbers, we get an idea of where the market is."
This article originally appeared on <a href="https://www.smartcompany.com.au/property/20111114-auction-results-improve-but-experts-say-recovery-won-t-come-until-2012" target="_blank">SmartCompany</a>. 
 
 
 
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Auction results improve but experts say recovery won’t come until 2012

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{yoogallery src=[images/stories/november14schwimmer]}
Actor David Schwimmer has joined at his Friends co-stars on the real estate merry-go-round, listing his nine-bedroom, six-bathroom Los Angeles home for US$10.7 million.
He bought the property in May 2001 for US$5.6 million, according to the<a target="_blank" href="https://realestalker.blogspot.com/"> Realestalker blog</a>. It includes a separate three-bedroom guest house, screening room, library and the obligatory pool. 
It is being marketed by <a target="_blank" href="https://www.weahomes.com/1_1_propertyDetails.asp?RN=19&amp;PID=1176&amp;PS=20#MAP">Westside Estate Agency</a> agent Magali Bergher.
Schwimmer is the third Friends cast member to buy or list property in recent months, with Matthew Perry <a target="_blank" href="https://www.propertyobserver.com.au/international/friends-star-matthew-perry-lists-in-malibu/2011100551814">listing two</a> <a target="_blank" href="https://www.propertyobserver.com.au/international/matthew-perry-lists-a-second-hollywood-home/2011101951995">Hollywood homes</a> and Courtney Cox <a target="_blank" href="https://www.propertyobserver.com.au/international/courtney-cox-buys-in-matthew-perry-s-former-building/2011110252177">buying a Beverly Hills condo.</a> We have also heard whispers that Jennifer Anniston is on the verge of buying a condo in New York, but they are as yet unconfirmed. We will keep a sharp eye out for Matt LeBlanc and Lisa Kudrow's real estate comings and goings.  
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David Schwimmer the latest Friends star on the move

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Following an extensive career in the real estate industry, Lauren Staley realised there was an opportunity to launch a new sort of property service. 
In 2008, she launched <a title="Infolio" href="https://www.infolio.com.au/" target="_blank">Infolio</a>, a Melbourne-based buyers advocacy and property management company that also specialises in auction bidding, property negotiation and renovation guidance. 
What gave you the idea for the business?
I’d worked in the real estate industry and saw so many flaws with it. I realised there was a gap in the market for a true end-to-end property service that would help everyone involved in the process. 
We had to set strict criteria though – no property more than 15km from the CBD. We cap the development size we work with at 18 plots as it’s not a great yield. I’d seen how it could all be improved, over the years. 
<h2>There’s a lot of competition in this area, isn’t there?</h2>
Yes, but the thing was that I didn’t even think about the competition to start with, which was probably a big mistake. 
We started with a real machine gun approach as to who and what we targeted, which brought us to pretty much a zero bank balance. 
We mainly thought the service would be good for single or double income professionals. We tried radio advertising for a whole month and didn’t get a bite from the market. It just wasn’t targeted enough. 
<h2>So, what was your cash situation?</h2>
We were literally out of cash. The business had $150,000 to start-up with and, perhaps because we got a private investor on board, we didn’t quite value it. It wasn’t our money, so we didn’t try to make it count as much. 
I think it’s better to start from humble beginnings. It gives you more focus. When the GFC hit, it was a humbling experience. We prospered because we had to be resilient and not spend money that didn’t make us money. 
Our investor is no longer a shareholder as the business didn’t provide him a fast enough return. I suppose it seems silly to look a gift horse in the mouth, but I’m not sure if we’d be here now if we hadn’t learned how to do it the hard way. 
<h2>What did you do to turn things around?</h2>
We spent about four weeks talking to real estate agents and realised it would work best if they referred clients to us. 
It’s a reciprocal arrangement so that buyers don’t have to fight against estate agents. They work with them. 
A lot of people are time poor and realise that we can help out. 
<h2>What was it like launching just before the GFC?</h2>
It was absolutely frightening. Everything was doom and gloom, but we just had to be strong and resilient. 
I thought it would be easier, but the stress, the bills, the rent – it’s just 24/7. But we used it in a positive way. When you are fighting to sell your service, you are committed on another level.
When the market is hot, you don’t have to negotiate and it’s almost too easy. 
It’s strange, no one really asked how old the business was when we started. We were experienced in real estate, which helped, I think. 
We identified the main competition and looked at the main differences we could offer. We decided to charge a flat fee, rather than charge a percentage of the purchase price, like others do. 
Now, we get 80 to 90% of our business through referrals. 
 
<h2>What is the growth of the business now?</h2>
We are growing at a good rate now. We have eight people but the biggest issue is getting staff. It’s hard to get the right people who can do the job you need them to do.
We’re dealing with around 12 to 15 properties a month. We handled 100 properties last year, 90% of which were new clients. 
<h2>Do you have any particular ambitions for the business?</h2>
We want to continue to build a strong portfolio, which we’ll do by targeting online and social media. The dream is to open another office in Sydney, as lots of our clients are there. 
Our rent roll is what will provide us with our super. We have 250 at the moment – we want 1,000.
This article originally appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartupSmart</a>.
 
 
 
 
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Lauren Staley: A new kind of property service

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1/41 Alamein Street, Noble Park, VIC, 3174
<img src="/images/stories/alamein.jpg">
This tenanted two-bedroom unit in Noble Park is currently leased at $520 per fortnight. The tenant is on an expired lease but is keen to stay, and this property could be a good investment. <a href="https://www.hallfn.com.au/index.cfm?pagecall=property&amp;propertyid=1868221" target="_blank">Hall and Partners First National </a>agent Ian Kerezovic is marketing the property with price hopes of $240,000 plus. If it sells for $240,000 that would be a gross rental yield of 5.6%, higher than the indicative gross rental yield of 4.8% for Noble Park units, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The property is within walking distance of the train station. <a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $8,000. The property was passed in at auction on a vendor bid of $220,000 on Saturday, November 12.
For more information about price and yields in Noble Park, see the RP Data suburb page.
For more investment prospects going to auction this weekend, see pages 2 and 3.
 
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6/7 Reynolds Street, Cremorne, NSW, 2090
<img src="/images/stories/reynoldsst.jpg"> 
A short walk from shops and transport, this one-bedroom unit comes with a rare car space. It is currently leased to tenants paying $380, and although the lease is expired, the tenants would like to stay on. <a href="https://www.totalrealty.com.au/?pagecall=property&amp;propertyID=1887332" target="_blank">Total Realty First National Crows Nest</a> agent Greg Lambert was marketing the property with price hopes in the "early $400,000s", according to the agency. If it sold for $410,000 that would secure an investor a gross rental yield of 4.8%, higher than the indicative gross rental yield for Cremorne units of 4.2%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. The unit includes a balcony and a car space. <a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $4,000 and over five years to be $9,000. The property was sold for an undisclosed price.
For more information about prices and yields in Cremorne, see the <a href="/news">RP Data suburb page</a>.
 
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46 Greenacre Road, Greenacre, NSW, 2190
<img src="/images/stories/greenacre.jpg"> 
This two-bedroom house was recently rented at $470 per week. Ian McGuire of <a target="_blank" href="https://www.professionalsgreenacre.com.au/details/?pid=507591">The Professionals Greenacre</a> marketed the property pre-auction with price hopes of $470,000 plus, and if it were to sell at that price it would secure an investor a gross rental yield of 5.2%, higher than the indicative gross rental yield for Greenacre houses of 4.8%, according to RP  Data.  The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. It includes a sunroom or potential third bedroom. <a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $7,000. The house was passed in at auction for $470,000 on Saturday, November 12.
For more about prices and yields in Greenacre, see the <a target="_blank" href="/news">RP Data suburb page</a>.
 
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Weekend Yield Watch: Yields of up to 5.6% in Noble Park

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The number of companies entering insolvency or external administration has continued to rise, in one of the worst years for corporate collapses in decades as the ATO continues to crack down on its debtors.

The data comes just days after the ATO itself released its annual report in which it revealed the number of ATO-initiated wind-up notices has also continued to rise.
The data shows for the three months to September 30, there were 2,961 externally appointed administrations, up by 11.5% from the previous quarter, and up by a massive 18.3% from the same point in 2010.
There has now been two consecutive quarters where appointments have been over 2,600. The only other time this has happened was in the quarter ending December 2008, and for the calendar year, the number of companies entering external administration was up 9.6% from last year.
Creditor-initiated court liquidations were up 33.7%, with receivership appoints up 12.7% – ASIC says this gels with evidence from practitioners that the ATO is continuing to strike down on its debt recovery plans.
Cliff Sanderson of Dissolve says this is the case, but is struck by the sheer breadth of the numbers.
"The numbers are a little down on last month, but it's the highest September ever. And six of the nine months of this year have been at their highest level ever."
"If you go back to September 2007, there were only 557 collapses. That really puts everything into perspective."
Sanderson says the figures are clear evidence the GFC hit SMEs hard, "and we're continuing to witness it", noting that the ATO is a major catalyst here.
"We know that 59% of corporate insolvencies are director-initiated. And only 11% of court liquidations are initiated by the ATO – so a large chunk of that 59% will be where the ATO has acted as the catalyst."
"This is really the ATO reaching the end of its tether, and going through the process of recovering its debt."
ASIC senior executive leader of insolvency practitioners Adrian Brown said in a statement the figures show both Queensland and Western Australia are seeing collapses driven by property-related appointments.
"We understand that certain secured lenders are crystallising long-standing problem loan positions or taking control of an underlying security where other creditors initiated an external administration," he said.
The figures show appointments of receivers and controllers increased in New South Wales by 21.5%, and remained high in Queensland. Receivership and controller appointments were also up 52.3% in Western Australia for the calendar year to date.
Court liquidations rose the most in New South Wales, up by 42%, and in Victoria, up by 34%.
And while the effects of the financial crisis may be petering out, Sanderson says insolvencies may remain high for awhile.
"If I had to take a guess, I'd say the ATO still has some work to do and needs to get through a backlog. And even then, when that process finishes, we may be facing another financial crisis."
This article originally appeared on <a href="https://www.smartcompany.com.au/economy/20111110-collapses-soar-18-to-near-gfc-levels-as-ato-pushes-hard-on-debt" target="_blank">SmartCompany</a>.
 
 
 
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Collapses soar 18% to near GFC levels as ATO pushes hard on debt

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Book franchises Dymocks and Collins have expressed their disappointment in a long-awaited report into the future of the book industry that did not recommend the abolition of parallel importation rules.

Dymocks CEO Don Grover warns that independent booksellers will suffer from the recommendation to reduce to 14 days - rather than scrap altogether - the time a local publisher can decide on whether it will publish an overseas book before it can be imported.
"Booksellers having to wait 14 days from the release of a product overseas is 14 days too late," Grover says, noting customers can see a book online on an American and European site and buy it immediately.
"It's taken two years to find out we're not going to be more efficient in getting books to customers," Grover says.
"The report is dealing with the issues, but not the one that would make the biggest difference – removing parallel importation restrictions."
He says the delays in getting new releases to market and the price differential between Australia stores and online offerings will continue to pressure booksellers, estimating that annual sales for the industry are down 20% year on year.
The industry was rocked in February by the collapse of REDgroup Retail, which owned Borders and Angus &amp; Robertson. Both Dymocks and franchise book chain Collins Booksellers picked up some stores from that collapse.
The report by the Book Industry Strategy Group, chaired by Barry Jones, has 21 recommendations, including:
<ul>
<li>The creation of a book industry collaboration council to provide advice to the industry.</li>
<li>For universities and the Federal Government to invest $16 million between them to establish a national university press network.</li>
<li>Dropping the goods and services tax on books, and if not applying the GST on online purchases.</li>
<li>Making online packages within Australia more affordable.</li>
<li>Ensuring that an Australian publication is released within 14 days of publication elsewhere in the world, rather than current timeframe of 30 days.</li>
<li>Funding of $5 million for the development of digital infrastructure to help local suppliers compete internationally.</li>
<li>All literature prizes funded by government, such as the Prime Minister's award, be made tax-free, as is the case with the science prize.</li>
</ul>
Speaking yesterday, publisher Louise Adler said $2.3 billion worth of books were sold in Australia in 2010, and $35 million worth of eBooks were sold.
"What we predict is that will rise to a total of sales of anywhere between 6% and 25% by 2014," Adler said, according to a transcript.
"In 2010 over 25,000 people were employed in our industry, 10,000 as content creators, 5,000 in publishing and distribution, 2,000 in printing, and over eight and a half thousand in retail."
Book Industry Strategy Group chair Barry Jones noted that although Australians were typically slow to adapt to technological innovation, once they adopt, their take-up rate is rapid.
"The proportion of eBooks bought is currently about 5% of the total market, but in three years, our best estimate was that the proportion is likely to increase to 25%. And that may be a gross understatement."
Innovation Minister Kim Carr yesterday kept an open mind on the recommendations when being interviewed by the ABC, saying the industry would need to face up to challenges and he would consult with other relevant minister about the recommendations.
Daniel Jordon, who heads Collins Booksellers, says elements of the report are very good, including the move towards 14-14 for parallel importation and the book industry website Title Page.
But Jordon noted:
<ul>
<li>The lack of dates for the implementation of recommendations.</li>
<li>The report was overly focused on the publishing and print side which employs 2,000 people, rather than the book-selling side, which employs 8,000.</li>
<li>There is unlikely to be government support for either removing the GST on books sold here or introducing it to online sales.</li>
</ul>
This article originally appeared on<a href="https://www.smartcompany.com.au/retail/20111110-dymocks-collins-says-independent-bookshops-will-be-hurt-by-decision-not-to-abolish-parallel-import-rules" target="_blank"> SmartCompany</a>.
 
 
 
 
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Dymocks says independent bookshops will be hurt by decision not to abolish parallel import rules

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A leasing expert predicts next year could produce more retail collapses than this year if Christmas trading disappoints, amid calls from a retail body to halt retail rent hikes.

Russell Zimmerman, executive director of the Australian Retailers Association, says the rule of thumb used by Westfield in determining rent increases – CPI plus 2% – is out of touch, given the number of retail collapses this year, poor sales in clothing and footwear, and warnings by retail giant Premier Investments that shopping centre landlords risked losing brands if they did not lower rents.
"Look, I don't believe the model can be sustained," Zimmerman says. He says while that model might have worked when retail sales were up by 6%, in the current climate rent rises of CPI are more appropriate.
"You only have to look at the recent closures and restructures," Zimmerman says, pointing to the collapse of REDgroup Retail, Colorado and Brown Sugar. He says it's been difficult for retail over the past 18 months, but particularly so since May.
Zimmerman says with CPI running at 3%, the price increase over a five-year rent can reach as high as 28%, including compound interest.
He adds that although Westfield says its Australian and NZ shopping centres are almost full, many tenants are "not temporary tenants" – that is, a company with a business in one Westfield centre is offered a lease in another at reduced terms – therefore "there are a whole lot of tenants supporting that 3.8% increase".
"Landlords should be more realistic in their negotiations. It's just unsustainable."
In its update this week, shopping mall giant Westfield reported that average specialty store rent grew by 3.8% year on year to $1,460 per square metre.
By contrast, retail sales are up to 2.3% year or year. The Australian Bureau of Statistics says retail sales lifted by 0.4% in November, the third consecutive month of gains.
Westfield – which has 43 centres in Australia and 11,792 retail outlets – said 99.5% of its Australian and New Zealand portfolio was leased.
But Simon Fonteyn, managing director of Leasing Information Services, has played down the prospect of Westfield or other landlords reviewing their lease structures, and says this Christmas will be key for the viability of many retailers.
"There are a lot of tenants, especially in fashion industry, that are really hoping for a decent Christmas," Fonteyn says.
"If that doesn't happen, we'll see an even tougher year than this one."
Fonteyn says Westfied's rent rises are usually CPI plus 2-2.5%, CFS uses fixed increases of 5%, and some landlords use between 4-5% per year.
"The question is not fixed increases; it's more about whether rents are sustainable long-term," he says.
"And at the moment, it depends on what category you're talking about, because certain sectors are more susceptible to the downturn, such as fashion, footwear, jewellery, whereas others – telephones, entertainment, food and coffee – are more resilient."
But there is some wriggle room: Fonteyn says there's a push for independent retailers to be treated differently to chains because they add a point of difference, and other retailers might look at reducing their rents when they expire or do a short deal for a few years.
The comments follow the announcement by the Franchise Council that it was writing a Retail Tenancy Code of Conduct – now with help with the competition regulator – to help prevent excessive rent rises and conflicts between landlords and tenants.
Zimmerman of the ARA adds that retailers should not be forced to hand over their turnover figures to landlords, and there should be lease registeries across the country.
"It's akin to giving them the pin to your bank account," Zimmerman says. He proposes the sales figures be handed to a third party, such as a Government department, and collated, to ensure they are not being used by the landlord to justify excessive price hikes.
"I understand centres needs to know how the stores are trading, but I've had retailers tell me they've been told that, 'ah you can afford this,'" Zimmerman says.
This article originally appeared on <a href="https://www.smartcompany.com.au/retail/20111110-retail-body-calls-for-halt-to-rent-hikes-as-leasing-expert-says-christmas-holds-the-key-to-a-better-2012" target="_blank">SmartCompany</a>.
 
 
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Retail body calls for halt to rent hikes 

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Early signs the property market is beginning to improve and that first-home buyers are returning has boosted sentiment among industry analysts, but some experts are warning the market still has a long way to go before it starts reversing its decline.

The positive sentiment was sparked by new home financing figures released by the ABS yesterday that show the number of dwelling commitments for owner occupied housing rose by a seasonally adjusted 2.2%.
In a sign that has some property experts excited, the number of first-home buyer commitments as a percentage of total commitments rose to 16% – the highest level in just under a year and a half. At this time last year, commitments were at 15.9%
But while SQM managing director Louis Christopher says the data is encouraging, he warns it's also prudent to consider the total number of buyers rather than the percentage.
"There are first-home buyers in the market," he says, "but it's only the percentage of the absolute number of buyers. You can see a situation where the total number of buyers is actually falling, even though the proportion increases."
"I do think it's fair to say that housing finance approvals as a measure of demand have picked up, but I strongly believe the market is still watchful about what's happening in Europe."
Yet it's hard to deny the string of positive data that has been released in the past two weeks. Price data from RP Data showed the lowest decline in several months, while SQM's own stock on hand data shows the number of new listings remained flat in October.
Such a result suggests sellers may be starting to draw back from the market, while the ABS figures suggest buyers are coming back. But Christopher warns prospective buyers and sellers need to be wary.
"There is a recovery in housing demand happening at this time, from very low levels, but it is occurring," he says. "Things have improved since the middle of this year, and with the interest rate cut, that is only going to be more encouraging."
"But we still need to be wary about what's happening overseas. We are definitely seeing some changes, but if the market blows up in Europe, there are going to be huge problems for our banks and then any recovery will be off."
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/property/20111110-first-home-buyers-returning-to-property-market-but-experts-warn-european-crisis-weighing-heavily-on-buyers">SmartCompany</a>.
 
 
 
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First-home buyers returning to property market but experts warn European crisis weighing heavily on buyers

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Vendors in the Northern Territory have not been forced to offer discounts as deep as those in other states and territories, according to SQM Research. 
The most discounted property in Tasmania, 588 White Beach Road, White Beach, has had its price expectations dropped a whopping 49%, and the vendors of the most  discounted property in WA, 146 Maddington Road, Maddington, have dropped their price hopes by 36%. In contrast, the most discounted property in the Northern Territory, 35 Flinders Drive, Stuart Park, has been discounted by a more modest 20%.
"Upon quick glance, it is evident that the discounting for this particular capital city appears somewhat muted in comparison to other capital cities that we have examined," SQM director Louis Christopher says.
However, he is quick to point out that the pecentage of discounting is not necessarily the best indicator of a state's market.
"As stated many times by SQM Research, our top 10 most discounted properties list is not necessarily an accurate representation of the property market overall, however this minimal level of discounting can be explained due to the number of mining towns in the NT where a property boom is still occurring, preventing the market from suffering substantial declines," he says.
 
<h2 style="font-size: 18px; line-height: 21px;">1</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106984366" target="_blank">35 Flinders Drive, Stuart Park, NT, 0820</a> (pictured)
On the market since: November 13, 2010
Initial asking price: $1.15 million
Current asking price: $925,000
Reduction: 20%
Days on market: 350
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107082335" target="_blank">1/26 Lakeside Drive, Alawa, NT, 0810</a>
On the market since: January 1, 2011
Initial asking price: $395,000
Current asking price: $325,000
Reduction: 18%
Days on market: 301
 
3
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008926190" target="_blank">5/78 Kurrajong Crescent, Nightcliff, NT, 0810</a>
On the market since: April 9, 2011
Initial asking price: $380,000
Current asking price: $319,000
Reduction: 16%
Days on market: 203
 
<h2 style="font-size: 18px; line-height: 21px;">4</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107302548" target="_blank">29 Bayview Boulevard, Bayview, NT, 0820</a>
On the market since: April 9, 2011
Initial asking price: $1.9 million
Current asking price: $1.6 million
Reduction: 16%
Days on market: 203
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106271967" target="_blank">365 Lot 3731 Launceston Road, Dundee Beach, NT, 0840</a>
On the market since: January 30, 2010
Initial asking price: $389,000
Current asking price: $329,000
Reduction: 15%
Days on market: 637
 
<h2 style="font-size: 18px; line-height: 21px;">6</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008877486">38 Dwyer Circuit, Driver, NT, 0830</a>
On the market since: March 19, 2011
Initial asking price: $555,000
Current asking price: $470,000
Reduction: 15%
Days on market: 224
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106704843">33/184 Forrest Parade, Rosebery, NT, 0832</a>
On the market since: July 24, 2010
Initial asking price: $430,000
Current asking price: $365,000
Reduction: 15%
Days on market: 462
 
 
<h2 style="font-size: 18px; line-height: 21px;">8</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107167249">1/66 Stuart Highway, Stuart Park, NT, 0820</a>
On the market since: February 12, 2011
Initial asking price: $346,000
Current asking price: $300,000
Reduction: 13%
Days on market: 259
 
<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106295188">273/8 Gardiner, Darwin, NT, 0800</a>
On the market since: February 6, 2010
Initial asking price: $1.25 million
Current asking price: $1,086,195
Reduction: 13%
Days on market: 630
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008822194">8 Costello Court, Farrar, NT, 0830</a>
On the market since: February 19, 2011
Initial asking price: $538,000
Current asking price: $470,000
Reduction: 13%
Days on market: 252
 
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia </a>for sale.
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Darwin house price discounts muted in comparison with other capitals: SQM

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Cassidy Knowlton

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