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GUEST OBSERVER 
Australia is the world’s largest carbon emitter per capita and requires energy reform on our country’s households.
 Australia needs to be more environmentally-minded, and not enough is being done at the top level through policy and greater consumer awareness to reduce our carbon footprint.
You can’t play politics with the environment.
If we genuinely want to reduce our country’s carbon footprint, it needs to be introduced on a Federal level, with both sides of politics coming together, regardless of political persuasion. Frequent changes in Government mean that there is little to no concentration on a long-term goal and while the focus is primarily on industry and commerce, it should extend beyond this.
According to the ABS, households are the biggest consumer of energy after manufacturing, even topping transport and mining.
We need to have more robust conversations on how we can make property more energy efficient and homeowners more energy aware. Most of our ‘green’ discussions are centred around creating energy in a more environmentally conscious manner, but we need to start looking at how we can improve energy waste by reducing the energy leaking from homes. There is a huge lack of education amongst homeowners around this, and while it will first help save money, it will also be a giant leap towards reducing our carbon footprint.
There is a huge lack of education around the Nationwide House Energy Rating Scheme (NatHERS), and given the opportunity, the average Australian would be interested in knowing what the energy rating is for their home or a home that they are purchasing.
Currently, a large number of Australians are buying property off-the-plan, and they may not have access to knowledge about the property’s energy efficiency. Similarly, those who own or who are purchasing more recently built homes may only be able to access this rating through their local council or estate lawyer. 
While there is much focus on building for our future population, there is little consideration on established homes built pre-2000s. Douglas believes these homes are an even bigger contributor to the environment, accounting for 95 per cent of Australia’s total dwellings, and the Government should mandate energy ratings as part of building and pest inspections during the home buying process. 
Mandating energy ratings will provide greater transparency on wasted energy but it won’t necessarily cause people to withdraw from their purchase. The UK Government introduced Energy Performance Certificates in 2007 for homes that are built, sold and rented, and it did not deter people from buying in the slightest. If anything, this step will make people more aware of their environmental impact, and how they can contribute to making our country cleaner and greener. Government rebates are available to alleviate financial stress for homeowners looking to make their homes more energy efficient – there really needs to be more education on this.”
Research by the Energy Supply Association of Australia indicates that Australia leads the world in household solar penetration. While about 15 percent of dwellings have solar, research has demonstrated it is only as effective as behaviour, with almost half of energy generated by solar lost when used in the home through a lack of insulation, single-glazed windows and cavities. Douglas likens this to pouring water into a bucket with holes in the bottom.
There are 10 million dwellings in Australia and if each one is made five to 10 percent more energy efficient, it will make a significant reduction on our country’s carbon footprint, and keep a lid on rising energy bills.
A Canadian company called MyHEAT uses drone technology with thermal heat mapping to help homeowners understand and physically see energy loss in their home. With utility companies abroad becoming legislated to help customers reduce their energy consumption and Australian utility companies becoming privatised, a similar model would be adaptable in Australia.
It’s just as much about keeping dwellings cooler in summer as it is about keeping them warmer in winter. We have the technology at our disposal so why wouldn’t we use it for the greater good?
DOUGLAS DRISCOLL is CEO of real estate agency <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>.
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Environmental reform on property needed: Douglas Driscoll

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GUEST OBSERVER
Sydney’s property market is buoyant but signs it’s still white hot should be dismissed, with clearance rates partly skewing market perceptions.
Auction clearance rates should not be the sole barometer for how the market is performing and could inadvertently spook buyers into rushing their decision, or sellers into choosing an auction sales method without considering alternatives that might achieve a better sale result for their property.
Many Australians watching the property market are unaware that auction clearance rates don’t constitute how many properties actually sell within a week. Last year the majority of properties were going to auction because it was a more efficient process and agents had confidence that these properties would almost certainly sell. Currently, there are fewer properties being sold by auction and a lot of agents are only taking the properties to auction that they perceive are guaranteed to sell. 
It’s very much a case of apples and oranges. We are still seeing almost all properties go to auction in certain pockets of the lower north shore and eastern suburbs, but this doesn’t reflect the entire market, especially when only about 10 per cent of properties go to auction in Sydney’s west – a community home to 12 percent of Australia’s entire population.
Sydney in itself is not selling a proportionate amount of properties at auction to make an accurate prognosis of the market. We are currently averaging around 300 properties going to auction over the weekends, but I think we should be looking at the results of total residential sales for the whole week, not just the auctions on the Saturday.
Rather than just using auction clearance rates as a barometer, I urge Australians to consider other metrics such as the average days on market and/or the price achieved as a percentage of the asking price. Auction clearance rates are simply a cross-section view of the market.
Here are three tips
Review number of days properties spend on the market
When the number of days on market goes down, understandably it means that the market is doing well. Likewise, when the number of days goes up, it’s generally a sign that the market might be toughening, or – for Sydney – be a sign of a stabilising market.  How Australians can make an informed opinion: 
Last year was very much a case of a high tide floating all boats but this year, despite the market still being strong, there are various nuances across different parts of our city. We shouldn’t be looking at Sydney as a whole, but at individual suburbs, and how things are moving and changing on a much more granular level. Consumers should spend time researching by monitoring listings, specifically, how long properties are on the market for.
Finally, no one knows the area better than local real estate agents and I strongly advocate people talking to the leading agents in their local area, to ensure they are well informed about how the market is performing. According to data from CoreLogic, about 1,000 more properties are being listed for sale than this time last year but the average days on market for Sydney properties this July was 40 days, much different to the average of 26 days in July last year. This really shows how the market is performing and my advice is to look at these independent research findings to get further insight into what’s happening on the ground.  
Assess the percent ratio of the achieved price to asking price
One way to get an accurate measure on how the market is performing is to look at the percentage ratio of the price achieved for properties against the asking price. Last year in Sydney most properties sold for the value within the price guide or above but now we’re in a situation where properties are selling within the price guide or below. But this certainly doesn’t mean the market is crashing. To make an effective prognosis of the market, we need to ensure that we’re looking at all of the facts.  How Australians can make an informed opinion: 
Median house and unit prices are down ever so slightly from the same time last year according to CoreLogic. For units it’s about $1,400 less and for houses it’s about $15,000 less, which really isn’t much in the grand scheme of things. These days, many agents send email newsletters detailing new listings and recent sales with price achieved so my advice is to get on these lists and keep in touch with agents that you’re meeting at open for inspections. There are also some free online tools that can help consumers track the advertising history for properties, to get an indication of property sale histories or what price reductions might have occurred over the past week.  
How to determine more accurate auction clearance rates 
To make an accurate market prognosis, we need to make sure we’re looking at all the facts. In the case of auction clearance rates, there’s no automated process at reporting the results accurately. In many cases you’ll find that agents won’t disclose the details of any properties that were passed in and the problem with brushing these things under the carpet is that you’re going to get a lumpy carpet, which could cause some consumers to trip. The results are often distorted by what’s being withheld, not to mention auction clearance rates also include properties that sold prior to auction with no competitive bidding at play. How Australians can make an informed opinion: 
Straight away, I urge consumers to take approximately 10 per cent off the clearance rates they’re seeing in the headlines. This will provide a more realistic number to make a sound market prognosis. There are many great resources available to Australians, including Cooley Auctions’ Cooley Index, which is a report on total auction volume, clearance rate, percentage sold over reserve and more, as well as a comparison to the same time the previous year. These stats are sometimes up to 10 per cent less than other reports, so given that they are highly reputable auction specialists, this in itself should motivate consumers to rethink clearance rates.
Another thing to remember is that we’re sometimes only dealing with about 200-300 properties being sold at auction here in Sydney, while Melbourne is often dealing with two to three times that amount. At those kinds of numbers, auction clearance rates are going to be a much better barometer of the Melbourne market unlike Sydney’s rates, which are tantamount to looking at the property market through a keyhole.
DOUGLAS DRISCOLL is chief executive officer of real estate agency <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>.
 
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Auction clearance rates unreliable metric for Sydney property buyers: Douglas Driscoll

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GUEST OBSERVER
Australia needs a fair foreign investment policy that offers Australians equal opportunities.
For foreign investors, Australia is a desirable country because of its stable economy, favourable weather conditions and proximity to Asia. Furthermore, 2016 will be the year international developers take centre stage in Sydney – more than in previous years.
There are many other factors at play that make Australia so desirable and, for investors, there is less red tape and fewer restrictions on how many properties they can buy. 
In contrast, in China, for example, each province has different rules and regulations, with some provinces only allowing residents to purchase a maximum of two properties. 
The International Monetary Fund says that China has the most expensive property in the world. The median house price in Beijing is believed to be 20 times the annual household disposable income, so it’s understandable that they’re looking elsewhere. Sydney and Melbourne represent good value by comparison.
The number of Chinese investors in Australia might fall in Australia within the next 2-3 years and that Indian investors will make Australia their first port of call.
In my opinion, we will start to see Chinese investors possibly fading away from the Australian market depending on their slowing economy in the next few years, and will see a genuine emergence of buyers from India.  They will find it attractive for the very same reasons the Chinese do.
Land and property sales data suggests that foreign investors are now getting in on the process earlier to close the loop.
Many sites have been snapped up by international developers and the reality is that we can’t stop it from happening, not in this global economy. In saying that, it’s only fair, right and appropriate that Australian residents have, at the very least, equal opportunity.
Australian residents should be looked after; they shouldn’t be at a disadvantage to foreign nationals.
Safeguarding the interests of Australian residents should not be confused with being xenophobic, as they’re two very different things. We should still openly invite foreign investment, I just believe that it should come with more restriction and regulation. I was born in Britain so this isn’t a jingoistic standpoint, I merely want to see the same rules be applied to anyone buying in Australia irrespective of where they are from.
Conflicting information about the current market is making it confusing for Australian investors struggling to keep up.
As far as I can tell, there aren’t any accurate numbers available on the extent to which foreign investment is impacting the local investor community and house prices. Significant research is needed. As a real estate head with years of experience in the Australian market, I myself am having difficulty comprehending the situation, so what chance does the average layperson have?
Five solutions for a fair foreign investment policy that gives Australians equal opportunities:
1. Introduction of a levy. 
I absolutely advocate the introduction of a levy.  Last year the government introduced a tax for overseas investors, but in my opinion, this should be increased.  Australian residents are forced to pay for extras such as stamp duty when they buy property and I believe overseas investors should have to pay even more.
2. Placing a cap on the number of properties sold to overseas investors. 
We should regulate the number of properties on Australian soil that are sold to overseas investors:
It’s a bit of a mockery if Chinese investors can only buy two properties in some of their own provinces, but they can come to Australia and can buy 10. It doesn’t matter where investors are coming from – and they’re coming from all over the globe – it’s about looking after the interests of the Australian people.  
3. Clean money assessment.
 A handful of high-profile and high-net cases last year were intentionally made public to oust some illegal transactions happening and spook off unscrupulous investors, and Douglas believes that many more could have gone unnoticed. 
These homes were just the tip of the iceberg and my question is, what about the rest of the iceberg? Do we have any idea how big it is? We know that illegal transactions are taking place because of these cases, and that these acquisitions by foreign investors breach regulations. There is a strong suggestion that this is regularly taking place in the upper echelon of the Sydney and Melbourne markets.
We need to take a harder look into where the money is coming from, as there has been some suggestion that it’s not always clean. The UK government, for example, has implemented money laundering checks and Australia should be doing the same.
4. Financing rules around the acquisition process. 
As is currently stands, financing is not fair for the local investor. We know that a Chinese financial institution based in Australia offers zero deposit home loans for Chinese investors purchasing Australian property. Here, under new macroprudential guidelines, we have Australian residents now required to pay a 20 per cent deposit on a property whilst international buyers can completely circumnavigate the system. It’s ludicrous, all buyers should be on a level playing field in the process and financial aspect.
5. Percentage of developments must be sold to Australian residents.
Up until 2008, developers had to sell a portion of properties to Australian residents. This lifted in the GFC but it’s my view that we should re-establish it and place a limit on how many investments they can buy. I heard that last year only 10-15 per cent of off-the-plan developments in Sydney and Melbourne were sold to overseas investors, but that conflicts with other reliable reports, saying that it was closer to 40 per cent.
It’s increasingly common for foreign investors to buy and develop or redevelop, then sell property on Australian soil off-shore or to international investors without Australian residents even getting a look in.  We need to look at the vulnerability of our market – does selling too much to overseas investors make us become vulnerable to factors outside of our control?
DOUGLAS DRISCOLL is CEO of real estate agency <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>.
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Foreign investment impact on local market worsens

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GUEST OBSERVER
Sydney’s property market is set to show signs of change in 2016 as the market moves into a ‘transitional’ phase, and I predict the following market trends for 2016.
Consistent property prices.  
Property prices remain quite consistent throughout 2016.  There’s strong speculation that the Reserve Bank will reduce interest rates again, but if they do, I personally don’t envisage the banks passing it on to consumers. We’ll see a continued decline in investors which will coincide with an increase in owner occupiers.  This is a very good long-term thing as it helps the market have a healthier balance.
More robust conversation on how to encourage first home buyers.  
Home ownership is ingrained into Australian DNA: It’s not an entitlement but it’s always been encouraged. I would be saddened to see that change as I want to see more young people on the property ladder and experience the same things as previous generations. 
The industry needs to focus on encouraging first home buyers to enter the market. Personally, I’m not convinced that throwing money at first home buyers through grants is the right way to go, nor am I convinced that allowing them to make purchases with their superannuation is the right way to go either. It will be nice to see some pressure applied to banks – for them to look at giving discounts or concessional rates to first home buyers. I would still love for first home buyers to continue to be offered deals with a five per cent deposit and a more competitive interest rate.
Developers to become nervous and less likely to take risks.  
We have seen a general sense of nervousness from developers recently so I hope to see a greater sense of balance around approvals as a result.  In 2015, we saw a lot of developments granted planning permission but I think heading into 2016 we will see them feel a bit of pain because some purchased their sites on such narrow margins. As market levels fall away slightly, some developers might struggle to cover costs.  
Towards the end of 2016 we might start to see some investors potentially walk away from their deposits because they perceive that they paid too much for it in 2015 and see that it’s no longer worth the risk. Personally, I see this as very much a knee-jerk reaction as most investments should be viewed with a long-term strategy in mind.
2016 will be the year that Chinese developers really arrive in Sydney – and they’re going to aggressively market their developments in mainland China. I have no problem with foreign developers coming in but there should be a quota of stock that must be sold to Australian residents.
Changes to lending rules will freeze out some investors.  
The early part of 2015 saw investors buying off-the-plan but as these developments start to take shape and bricks go into the ground. The recently introduced macroprudential measures will make it difficult for buyers to complete the purchase.  Investors might have committed to an off-the-plan purchase as their mortgage lender considered them qualified to borrow at the time, but when it comes to the buyer needing the finance, there will be changes to lending rules, which – I think – is unfair.
Going into 2016, mortgage lenders will start freezing out investors, as lenders actually don’t have an obligation to provide the finance. They will simply say that they can’t provide the finance on the original terms (say, a 5% deposit) and that now much more is needed. Lenders might have said yes on a certain date in principle but the framework of their in-principle agreement should carry through.
Under-supply of housing.  
I believe that while town planners and councils might be meeting their quota in terms of dwellings being built, they might not be the right dwellings for the demand.  In my opinion, a disproportionate level of apartments are currently under construction – and now that the investor boom is over, we have an issue.  Planners should take a responsible and sensible approach to what the demand looks like, and offer tangible solutions.  We have to be careful we don’t build too many units and apartments because it will rob some suburbs of their identity.
Furthermore, I believe that there is a huge density problem.  We know that Australians have more living space per capita than anywhere else in the world, so are apartments really what is needed?  You’re not going to have a family of five on the 32nd floor of a high rise, are you?  Now that the investor market is slowing down, I want to know who’s going to be buying because the stock being built does not necessarily correlate to demand.
Suburb desirability and price changes from council amalgamations.  
When councils amalgamate in 2016, certain suburbs will be impacted on more than others in their desirability and/or price.  Look at somewhere like Botany for example, all of a sudden it could become part of an enlarged eastern suburbs council. Of course it’s going to become a lot more desirable and expensive. 
On the flip side, look at what happened when the government tried to divide Mosman into five suburbs – the sentiment was so strong against it that the call was rejected.  You really need to think about what’s in a postcode, in a suburb, in a council area because there could certainly be an impact on desirability for the better or the worse.  Just look at the conversation about the Woollahra, Hunters Hill, Ryde and Lane Cove councils right now.
More disruptors, disintermediation and ‘uberisation’ – but unlikely to take off.  
More disruptors will try to enter the market and shake things up for real estate but that they will be less likely to survive in the new landscape. Disruptors are more likely to thrive in a strong seller’s market when vendors struggle to see value for money.  These start-ups might have all the key ingredients to disrupt the traditional model, but in a softer market, like the one we are transitioning into, these new players will struggle to succeed.
As the market returns to something that resembles an ‘everyday market’ in 2016, we will see a lot of agents leave the industry. Those who were in it for a quick buck will quickly realise that they now have to work for their money and this hopefully means that the quality and standard will improve across the board.  It’s a great opportunity to raise the bar for the next boom.  This will allow us to improve entry level education standards so it will be far more difficult for the fly- by-nights to get a job in the industry.
Sydney to become a spider’s web.  
I really think that we will start to see Sydney become more of a spider’s web in 2016.  Regions of Sydney have always been so disconnected but for the first time ever we will see a joining of the dots.  Some areas currently considered as outposts will benefit from the construction of four new metro train stations, the south-west rail link, and the development of eight new stations in the north-west.
To give credit where credit’s due, the planning of Sydney’s transport system has vastly improved. With the new developments underway, it’s going to open up some key suburbs and make them more desirable.  As transport infrastructure improves, we will slowly start to see the divide between east and west fade as a result of greater accessibility.  Starr Partners’ buying data already proves these divides are softening right across Sydney.
Semi-abandonment of the auction process.  
As the market grew more robust over the past year or so, more people opted for auctions, but as it softens, I anticipate that people will start walking away from the process.
As experts, agents need to start assessing the what, the why and the where, and what works best for the individual property and people involved rather than resolutely sticking to just the one method of sale.  In a strong market, vendors are very prepared to follow the auction path but when things soften or when clearance rates fall, we can expect a semi-abandonment of the auction process.
 
DOUGLAS DRISCOLL is CEO of real estate agency <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>.
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Sydney 2016 property market forecast: Douglas Driscoll

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Sydney’s property market is predicted to be healthy and stable this spring. 
The market has been like a steam train the past 18 months with prices accelerating far too quickly and a lot of talk of a bubble, however it has now found its feet and is well on the road to a healthier, balanced position. 
This spring, with the Australian economy still strong and consumer sentiment up, we’re hopefully set to see an increase in the number of first home buyers entering the market, as well as an increase in listings. 
My top seven trends for Sydney’s property market this spring are:
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Heightened stability. Over the past 18 months, Sydney’s market conditions were frantic and unpredictable, however, we’re now beginning to see a calming of the waters. The market is far less volatile - people know what they’re in for - and with this heightened sense of consumer confidence comes more action and more listings. </li>
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More listings. With consumer sentiment up, expect to see more properties on the market this spring compared to last. This time last year, buyers were unsure of what would happen, adopting a ‘wait and see’ mentality. However, this year, the market is much more consistent and we should see more stock hit the market as a result.</li>
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Slightly lower clearance rates. So far this year Sydney’s auction clearance rate has consistently hovered around the mid-80% mark, however, we are likely to see this drop slightly to around the mid-70s. This is still an exceptionally high clearance rate and a sign of a strong, healthy market – one that is stable and less fickle.    
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Less local investors. As banks become more prudent about responsible lending, we’ll see less local investors in the market this spring.As investors back off a bit, we are likely to see the number of first home buyers increase by as much as 3-5%. </li>
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Apartments, apartments, apartments. Sydney is going apartment crazy. We’ll see more being built and more being sold. Although I’m pleased to see more dwellings being approved and constructed, my lingering concern is that a disproportionate amount are still being sold to overseas investors. This spring we’ll no doubt see more debate and discussion on this topic.</li>
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Emerging growth suburbs. There will be a surge in buying activity in regional areas close to metropolitan cities, as buyers walk away from Sydney in favour of areas such as the Central Coast. Newcastle and Wollongong should also experience increased demand from buyers as Sydney properties become increasingly unobtainable. In Sydney, it’s Mascot, Botany, Riverstone and Leppington that are emerging as the next big growth areas. </li>
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<li>
Prices to increase but at a balanced rate. Property prices will continue to rise, but at a healthier, less accelerated rate. Rather than the 1-1.5% per month increases we’ve been experiencing, I expect to see closer to half a percent increase in prices for the remainder of this year, making it more achievable for first home buyers to purchase their ideal home this spring. </li>
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DOUGLAS DRISCOLL is CEO of real estate agency <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>.
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Top seven trends for Sydney’s property market: Douglas Driscoll

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Sydney’s property market is continuing along a stellar growth path, with auction clearance results surpassing 90% and dwelling values increasing 13.9% since March last year*. With the growth rate not showing signs of slowing, experts are warning of another property bubble. Is this the case?  
Sydney’s market is certainly very bullish. Capital growth is strong and buying and selling activity has exceeded expectations. While most commentators expected the market to ease to steadier levels in 2015, to around 5-7% growth, the market is continuing to defy our predictions. We are now in unchartered territory but this is nowhere near a bubble. Instead, Sydney is evolving into a new market where conditions are unpredictable, competition is high, and the pool of affordable housing is drying up.
Despite strong sales, a worrying trend in this new market is a lack of owner-occupier housing. The vast majority of buyers are now investors and fewer buyers are moving into a new home. Property purchases are not following a linear path as they did in previous generations and the new generation of buyers are struggling to compete. Investors are also buying with a long-term view, with many planning on leasing their property for 10 to 15 years or more.
Sydney is also facing a serious housing undersupply. By 2031, Sydney’s metropolitan population is expected to grow to almost 6 million people; the total number of homes needed to meet this projected demand is 2,338,100**. While building up has been one solution, foreign investors are snapping up Sydney developments in droves and in bulk, reducing stock for local buyers. Many of these properties, are also ideal for first home buyers.
Is now the time to buy, or should you wait for prices to cool? Here are 7 tips.
1. Don’t second-guess the market
In an unpredictable market, trying to pinpoint the ideal time to buy where the odds are in your favour is a difficult game. You may never know. I see buyers stall on their decisions by trying to second-guess. If you find a property you can afford that fits your needs, deciding to wait for a better option or a drop in price means you may miss out on a good opportunity.
2. First impressions aren’t always the last 
Don’t disregard a property because it doesn’t fit the aesthetic you had in mind. While properties built in the past 15 years may require less maintenance, older properties often feature double-brick walls and more spacious living and sleeping areas compared to properties built more recently. If the property you admire does require renovation, scale up the costs as a buffer to cover you when planning your budget.
3. Broaden your search 
To enter the market, you may need to consider suburbs that might not be your first or second preference. Sydney has a number of suburbs on the cusp of regeneration that offer great value such as Roseberry, Botany, Mascot, Rockdale, Baulkham Hills, and Penrith. By keeping your suburb search pool too slim, you risk cutting yourself off from other opportunities. Your ideal home might be a few suburbs away from your ideal suburb.
4. Focus on the bigger picture
Base your decisions on your property goals. Are you looking to climb the property ladder? If so, your first or second purchase is unlikely to be your last. Use your purchase as an opportunity to earn capital gains and release the equity to put toward your next purchase. The new market is not linear, so be prepared to go on a journey as you progress. I also recommend buying with a business rather than emotional mindset.
5. Get on the list 
If you’re looking to buy within a new development, I recommend doing your homework to stay a step ahead. Call local councils in areas where you would consider buying to identify any new residential plans. Ask to be on their mailing list for any updates and news. Many real estate agencies also have relationships with developers, so use them as a source of information to stay on the pulse.
6. Avoid stretching your budget 
Sydney’s market is significantly competitive and this is pushing up prices. Know your limit. Property is an expensive life investment. If you find yourself going beyond your limit to afford an increase in the asking price, knowing where to draw the line is an important life skill. Be responsible, make wise choices and seek guidance from a financial advisor.
7. Keep the faith 
If the search has been arduous and you’ve given up hope, you may find yourself developing a resentful attitude towards the market. Don’t succumb. Many buyers go through this phase at some stage in the property life cycle. If things aren’t working out, consider taking a step back to reassess and readjust your strategy. Taking some time away from the market may help you gather perspective before you make your next move.
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Sydney battles along strong: Douglas Driscoll

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GUEST OBSERVATION
Sydney’s 2015 property market is set to be healthy and buoyant.
In 2014, Sydney’s property market was white hot but the rate of growth was unsustainable.
While the volume of sales last year were impressive, more than half of the transactions made were by investors rather than owner-occupiers and this has started to create a bottleneck in the market. The good news however, is that the market is starting to relax.
With the economy strong, consumer sentiment holding and the Australian dollar balancing against the greenback, I think the 2015 market will go from white hot to red hot and be slightly less frantic for buyers.
Here are my top five trends for Sydney’s property market in 2015:
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<li>
Increased stability in property prices  The Sydney property market experienced accelerated growth in the past year but this should start easing in 2015. In 2014, average growth rates swelled past 13%. If we continue along this path, I believe that Sydney could be at risk of entering another property bubble, with prices ballooning and competition escalating. As we enter 2015, I expect to see more stability in the market, with growth rates of between 6-8% over the year. With interest rates also likely to remain at low levels and inflation easing, home buyers can take their time in making their biggest life decision without feeling the panic to buy now. 
</li>
<li>
Increased diversity in property portfolios  I think more investors will be ready to spread their wings and generate wealth in 2015. While it’s common for investors to invest in only one property, we are seeing a shift in the investor mindset. Whether it’s mum and dad investors or those planning to retire and live off their rental income, investors are becoming more open minded about how they purchase property and grow their portfolio – such as through structured SMSF investments. More investors are also treating their investments as a business transaction. They are not looking for a property to move into down the track; they are looking for properties in high growth areas where rental vacancies are low, demand is strong, and the property type fits the demographic needs of residents in the area.  
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Emergence of a genuine commuter belt Sydney is a global city but transport links between the CBD, and the eastern and western suburbs have been sub-optimal when compared to other global cities. With a fragmented transport system, pockets of the city are closed off and this can be a huge detractor for buyers wanting to live outside inner city areas. With new major rail links and road works underway, such as the North West Rail Link, and upgrades to the M2/M7 and M5 motorways, the divide between Sydney’s east and west is starting to close. New railway stations in the Hills District for instance, such as Rouse Hill, Kellyville and Bella Vista, will open up these family friendly areas to dwellers who may have previously only considered living close to the CBD, where properties are typically more expensive and less spacious.  
</li>
<li>
A ‘freezing out’ of first home buyers A worrying trend I see in 2015 is the continued decline in the number of first home buyers entering the market. This, I believe, correlates with an increase in investors snapping up Sydney properties. In a balanced market, around 20% of property transactions should be made by first home buyers. Instead, transactions by this group have dropped as low as seven%. First home buyers are our future generation. They are encouraged to buy property, yet their ability to enter the market and climb the property ladder is becoming increasingly difficult. More incentives will be needed to enable first home buyers to compete against more established or cashed-up investors; otherwise they risk being left behind,” says Doug. 
</li>
<li>
A continued influx of foreign investors The unprecedented rise in foreign investors purchasing Australian property in 2014 is set to continue. While investment from overseas buyers may help stimulate the economy, we need to be mindful that we already have an undersupply in housing and there is no shortage in locals wanting to buy. Many foreign investors are buying off-the-plan developments in bulk, often purchasing up to five properties at a time. Debate over the number of properties bought by this group could reach a climax in mid-2015. Introducing boundaries, such as limiting the number of properties that an overseas investor can acquire, or requiring developers to sell a percentage of their stock to Australian residents, I believe, will help provide more opportunities for local buyers.
</li>
</ol>
Douglas Driscoll is CEO of real estate agency <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>.
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The five Sydney property market trends to watch this year: Douglas Driscoll

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GUEST OBSERVATION
The clearance rate for houses sold at auction in Sydney is higher now than this time last year.
While the housing market remains competitive, consumers should not feel pressured to buy now in the lead up to spring. The market is expected to maintain its buoyancy until the end of the year.
Home buyers looking to take advantage of current housing market conditions may be placing undue stress on themselves and their families, with some believing that they may need to rush in and buy due to a fear of slimmer pickings or price inflation come September. However, this isn’t necessarily the case. Home buyers should be focussed on making wise choices and finding a home that they know is right for their family in the long term – rather than jumping the gun.
Over the last three years, the Sydney property market has experienced no real surge in the volume of listings during the spring period. Housing demand has remained relatively constant and seasonal buying trends such as the spring rush are becoming less prevalent.
Today’s market is increasingly more predictable and less volatile and the current surge in listings is more likely a result of increased consumer sentiment in macro-economic conditions.  Since January this year, the market has remained steady and this trend is expected to continue until well into 2015, which should be reassuring for home buyers.
Here are five tips for home buyers to use as guide before purchasing property:
<ol>
<li>
Don’t follow the crowd Property is your biggest life purchase and buying when everybody else is shouldn’t be the factor motivating you to move. Take the time to ensure you’re confident with your purchasing decision and base your buying and selling plans on your own circumstances. If you’ve found your ideal home that fits within your budget don’t be afraid to go against the grain. 
</li>
<li>
Don’t second guess the market When researching property market conditions it is vital that you analyse market movements; home buyers should realise that they can’t second guess the market as the landscape is constantly changing. You can’t control the wind but you can control the sails. This includes control over where and when you buy and the mortgage terms you agree to take on. 
</li>
<li>
Consider the area you’re buying into Do your homework to find out what the growth prospects in the surrounding suburbs look like. Are there any new developments planned such as road works or transport links, new schools or shopping centres? These could point to growth in the area and have a significant impact on the value and desirability of a property over time. It’s also important to understand the local demographics. While speaking to experts is important, I would encourage buyers to speak to neighbours across the street to get a feel for the community before buying. 
</li>
<li>
Thoroughly research the mortgage market  Spend time researching the mortgage market and collect a cross-section of advice. I recommend speaking to at least three home loan and finance experts. The more advice you seek, the better you will make an informed choice about the right mortgage and interest rate package that works for you and whether you should opt for a fixed or variable loan. I also recommend comparing home loan options online. 
</li>
<li>
Don’t overstretch your finances  This is imperative. Not only do you need to feel confident about the amount of finance you’re taking on and your ability to meet future financial obligations, it’s critical to know that you can carry the mortgage if your or your family’s circumstances change. Before taking on your mortgage, speak with a trusted financial advisor who can provide unbiased financial advice and assist you in developing a long term financial plan. Home buyers should also allow for at least one per cent increase in interest rates.</li>
</ol>
Douglas Driscoll is the CEO of award winning Sydney real estate network <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>. 
Starr Partners has an online home loan feature that allows home buyers to <a href="https://www.starrpartners.com.au/home-loans" target="_blank">compare loan products</a> from 15 different lenders.
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Five home buyer tips to help you beat the spring auction heat

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There will continue to be infrastructure growth, new developments and rental yields of 5% to 6% in greater western Sydney. Investors will continue to head west, lured by affordable property with high returns and higher stock levels.
Sydney is a tale of two cities
Until now Sydney buyers have pooled greater western Sydney into the same market as Sydney, but this perception is beginning to change. Greater western Sydney cannot be regarded as the same economy as inner Sydney or the northern beaches. The development boom, the buyer and seller mentality here – and hence the property data – is very different from the rest of Sydney.
We are seeing commercial epicentres emerging here – negating the need for residents to commute to the CBD. New suburbs and shopping districts are appearing, businesses are establishing and settling out here, the M2 motorway is expanding, new and expanded train stations are emerging, and so are large master-planned developments. No other area in Sydney is seeing that amount of change so quickly.
Investors are realising it – and their presence in the area is growing. Rental yields have averaged 5% to 6% here, in comparison to Sydney’s inner west, where they are 3% to 5%. This kind of strong rental yield will continue in 2012, assuming the economy will remain stable.
Hot suburbs to watch
Infrastructure growth and new developments are indicators of good rental yields and capital growth for those areas. Suburbs to watch out for include:
•             The Ponds (west of Kellyville): High-quality housing is being developed on a large scale, and this is tipped to be an upmarket area. In November, the $8.5 million landmark Eastern Playing Fields precinct opened. Nearby, Schofield train station has been relocated and expanded. In addition, my belief is that the north-west rail link will have to happen, further benefitting these areas.
•             Schofields and Riverstone: A significant amount of land has been released here with quality developments; a major part of the M2 is being widened to three lanes; and a planned Woolworths in Schofields is pointing to the growth of these suburbs.
•             Oran Park and Edmondson Park: These are large new suburbs. Edmondson Park is conveniently at the junction of the M7 and M5 corridors and will have a new train station linked to the airport and East Hills lines by 2016.
•             Pemulwuy: There have been significant sales in this new suburb by our new Pemulwuy office. In 2010 there was an 11.5% increase in the median house price, and 2011 a 5.6% increase. In October, median house prices were 8% higher than the median house price for the Holroyd area.
Off-the-plan sales to grow
Off-the-plan sales are already at a high due to the wave of savvy overseas investors. Often entire developments are purchased off the plan quickly. That’s where local buyers are missing out. Investors overseas know it’s a safer investment here and are also comfortable buying off the plan. Often, by the time a development is completed these investors have made tens of thousands of dollars on their purchase price.
Local investors are likely to soon change their mentality and realise that off the plan is the way of the future in the greater west. Developments also offer warranties, making the investments as safe as a second-hand property. The challenge is for local buyers to get in there before overseas investors snap up future developments.
Douglas Driscoll is CEO of <a href="https://www.starrpartners.com.au/" title="Starr Partners" target="_blank">Starr Partners</a>.
 
 
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Greater western Sydney market to go from strength to strength in 2012

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Pick up any newspaper or property magazine at the moment, and you could be forgiven for thinking that the bottom has just fallen out of the housing market.
Although it is true that we have witnessed some minor price adjustments, the market is still very robust and talk of any bubbles bursting are wide of the mark. It is almost inevitable that the halcyon conditions that we have recently encountered would not last indefinitely.
Markets rise and fall, but unlike a lot of other developed countries, Australia is experiencing a calmer acclimation to turbulent external factors.
With prices more sensible and interest rates unlikely to increase any time soon, the spring is an ideal time to move home. Up until recently we have experienced a "sellers' market", whereas now there is a far greater equilibrium between supply and demand, creating a heightened level of stability.
Irrespective of market conditions, a property is only worth what a buyer is willing to pay, so study comparable evidence carefully and ensure that the price is realistic.
Douglas Driscoll is CEO of <a target="_blank" title="Starr Partners" href="https://www.starrpartners.com.au/">Starr Partners</a>.
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Any talk of property bubbles bursting is well wide of the mark

Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333359]

Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333362]

Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363368]

Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363369]

The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

[smartcode_project_cta:default project_id=141609]

Joel Robinson

Gardner Vaughan Group tops out Bask Bokarina apartments

Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.

<a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.

[smartcode_project:default project_id=149670 project_image_fid=360966]

The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.

The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.

[smartcode_project:default project_id=149670 project_image_fid=360965]

Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.

The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.

[smartcode_project:default project_id=149670 project_image_fid=360975]

“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.

“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.

"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”

Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.

Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.

[smartcode_project_cta:default project_id=149670]

Hirsch & Faigen unveils The Eveleigh in Broadbeach

Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.

The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.

UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.

[smartcode_project:default project_id=136726 project_image_fid=362014]

There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.

A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.

&nbsp;

[smartcode_project:default project_id=136726 project_image_fid=362015]

Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.

Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.

“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”

[smartcode_project:default project_id=136726 project_image_fid=362020]

The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.

Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.

The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.

[smartcode_project_cta:default project_id=136726]

Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

Investor appetite for Queenstown apartments is strengthening as supply constraints and four-season tourism continue to underpin demand across the alpine region.

In Frankton’s masterplanned Remarkables Park precinct,&nbsp;<a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>’s 141-apartment Mountain Oak development is attracting repeat and yield-focused buyers seeking exposure to that market dynamic.

Brandon, who specifically targeted Queenstown as an investment location, said the combination of price point and limited new supply made Mountain Oak stand out.

“It is a quality product in a location that struggles to densify,” he said, referencing Queenstown’s land-locked geography and development limitations.

<img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/658d4f_48c3ec1ae5df4a2cab7d23c07c7f51b3~mv2.jpg?VersionId=27K8oQ4ExDN8Yu70VHDa9Olq59XU36m3" />

Having spent significant time in the region, Brandon pointed to its global reputation and consistent visitation as key fundamentals.

“Queenstown is a known destination from people all over the world. The place is land locked and there are issues building there. It’s also busy all year round.”

That four-season economy, driven by skiing and snowboarding in winter and hiking, cycling and water-based tourism in summer, was also central to Sherry’s decision to invest.

“I believe the four-season tourism has major appeal as it would ensure that the property will not remain empty, unlike other areas in NZ,” she said.

<img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Living_WEB.jpg?VersionId=3LglY20Jp_MAzQYdvwODRWvtjL.cZcqI" />

Mountain Oak has been structured to respond to that sustained demand, with 365-day visitor accommodation consent underpinning a mix of one-bedroom, flexi, two-bedroom and dual-key configurations that can operate as either short-term visitor accommodation or long-term rental housing. Dual-key apartments comprise two self-contained residences on one title, allowing owners to generate dual income streams or occupy one side while leasing the other.&nbsp;

Under Safari Group’s optional visitor accommodation management model, owners receive 60 per cent of the annual income generated by their apartment, with 24/7 on-site management, guest services and listing exposure included. Independent appraisal modelling suggests gross yields of up to 15 per cent for certain two-bedroom configurations, based on estimated nightly rates and occupancy assumptions.

For Brandon, that flexibility aligned with his broader investment strategy.

“It helps to know that I can have it managed either way,” he said. “My focus is on purchasing high yield cashflow properties.”

<img alt="Investors back Safari Group’s Mountain Oak Apartments as Queenstown’s four-season economy drives demand" data-entity-type="file" data-entity-uuid="c786ba7f-f974-4ce3-9833-1bcd9f2938d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_ae3c049f388f4c13bf801649d91cbb4a~mv2%20%281%29.jpg?VersionId=J25uvzGdvtFaXGzuwz28ewJ9wWzbtvur" />

He selected a one-bedroom flexi configuration, citing both yield and adaptability.

“I work remotely and can travel to most places and work. I enjoy making spaces that work for the lifestyle that I live and it seems that others also enjoy it.”

Ranging from 54 to 57 square metres, the one-bedroom flexi incorporates a separate multipurpose room suited to a home office, additional storage, or accommodation for ski gear and seasonal equipment, an increasingly relevant inclusion for buyers balancing remote work and alpine travel.

Interiors feature underfloor heating in bathrooms and a heat pump in the main living area, supporting year-round comfort. Upper-level apartments are positioned to maximise natural light, with sliding windows and balustrades in select residences enhancing outlook and ventilation. Units are available in both light and dark interior schemes.

<img alt="Investors back Safari Group’s Mountain Oak Apartments as Queenstown’s four-season economy drives demand" data-entity-type="file" data-entity-uuid="8f9492e9-8ee0-4aae-856c-8996ed9d9a06" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_7d066f5200024c1aa472d01e2dc776ed~mv2.jpg?VersionId=MLR5xn6fLqPdBi7vxyRT.1zhQX3Ln0Ev" />

Sherry, a repeat Safari Group buyer, said her previous experience with the developer provided confidence to secure another apartment.

“Their developments have always finished on time, the quality has been high, and I didn't feel that my investment may be at risk,” she said. “Knowledge of the developer and our two existing Safari apartments gave us the confidence to proceed with this one.”

Safari Group has delivered more than 2,000 hotel units and residential apartments nationally and is now undertaking its fifth Queenstown development, reinforcing buyer confidence in delivery capability.

Although Sherry was not initially targeting Queenstown due to its price profile, prior visits reshaped her view of the market.

“I absolutely love this region and believe it is a major tourist attraction, which led me to the decision to invest.”

<img alt="How Mountain Oak Apartments draws holiday home buyers to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Construction commenced in June 2025, with completion anticipated by mid-2027. Apartments are priced from NZ$639,000, and the development carries Overseas Investment Office exemption approval, allowing non-residents to purchase.

For both investors, the purchase represents a balance of income generation and long-term portfolio positioning in a tightly held alpine market.

“I firmly believe my investments in Safari developments are a combination of all these elements,” Sherry said. “The location of this project enabled me to diversify.”

As Queenstown continues to attract year-round visitation alongside constrained housing supply, Mountain Oak’s dual-key flexibility, optional on-site management structure and established developer track record are resonating with investors seeking exposure to the region’s resilient tourism economy.

Investors back Safari Group’s Mountain Oak Apartments as Queenstown’s four-season economy drives demand

The Minns Labor Government is today unveiling a game-changing new precinct at Bays West – delivering up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes - directly above the new Bays West Metro Station currently under construction.

The landmark transformation will convert underutilised government-owned port land on the Harbour into Sydney’s newest suburb, while retaining important deep-water port facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

<img alt="Bays West" data-entity-type="file" data-entity-uuid="c5f01d10-0b6b-49de-8033-d3ef2728cb6d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-04%20at%204.06.12%E2%80%AFPM.png?VersionId=UA6_r._1jYROJ5tFNXMHqjNYLKYWIN.Y" />

Affordable housing will be embedded from the outset, including dedicated homes for essential workers such as nurses, teachers, paramedics, firefighters and police so they can live closer to the communities they serve.

The precinct will combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years.

Night-time entertainment and creative industries will be anchored by the revitalisation of the historic White Bay Power Station as a cultural and community destination, connected to the harbour across a new expansive public forecourt.

Planning of the area will prioritise connectivity, including active transport links to neighbouring communities such as Rozelle, Balmain and Glebe, improved pedestrian access to the waterfront, and connections to the CBD, including an active transport link across the Glebe Island Bridge.

The Government will lead a master planning process that will include an international design competition to guide development across the precinct, ensuring homes, essential infrastructure, jobs, public spaces and transport links are delivered together.

It will be led by a new delivery agency to be established over the coming weeks, which will report to Minister Kamper who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo. Once established, the publicly owned land in the precinct will be transferred to the new agency.

This is the first new suburb that has been built in inner Sydney in decades, it will see homes built alongside the Bays West Metro Station ensuring young people, families and downsizers are only minutes away from the CBD. As part of the transformation of the Bays West precinct, bulk port operations – including cement, gypsum and sugar handling – will cease on Glebe Island by no later than 2030.

<img alt="Glebe" data-entity-type="file" data-entity-uuid="46ef3c23-2ce1-4912-b8ba-5247de19d7b9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-04%20at%204.02.15%E2%80%AFPM.png?VersionId=I5xKa7hLNlsueMsltA2dsYrRYtZCKvZz" />

The Government will work closely with industry to minimise impacts and ensure the continuity of supply. This includes a commitment of $270 million to improve road connections around the port at Port Kembla and to investigate increased rail freight capacity.

Working harbour operations across the precinct will be consolidated, mostly into White Bay, ensuring the precinct will continue to provide critical services for the harbour, including boat maintenance and marine construction and as a base for tug boats and for emergency services.

A new staging area will be established in White Bay, securing the future of the New Year’s Eve fireworks, Vivid and other major events for decades to come.

<img alt="Glebe island" data-entity-type="file" data-entity-uuid="0554b153-b225-445b-a633-75aecea7dec9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-04%20at%204.06.17%E2%80%AFPM.png?VersionId=P45ABy8KLuwjzVf04APWfeC4aOMA1Ngx" />

The cruise terminal will be retained in its current location, meaning tourists arriving in Sydney will be welcomed by the new precinct, with new shore-power facilities currently being installed that will reduce noise and emissions. The Sydney Heritage Fleet will also be offered new premises in White Bay.

Deep-water berths will be retained to preserve Sydney Harbour’s strategic operational capability, and the removal of the existing 1970s industrial silos, currently used as a billboard, as well as to store cement and sugar, will unlock new opportunities for public space and future housing.

“Right above a new metro station and minutes from the CBD, we’re delivering thousands of homes where people actually need them - close to work, close to services and close to transport,"&nbsp;Premier of New South Wales Chris Minns said.

“Importantly, this precinct will include affordable and essential worker housing from day one, so nurses, teachers, paramedics and police can live closer to the communities they serve.

“We understand that not everyone will welcome change, but cities don’t stand still. If Sydney is going to remain a place young people and families can afford to live in, we have to use well-located land better and plan for the future.”

Douglas Driscoll

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