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GUEST OBSERVER
Most Australians entrust their super funds to professionals but you can control your own superannuation and invest your contribution yourself.
Managing your super not only gives you the opportunity to take matters into your own hands, you may also save thousands of dollars on fees.
However, you need to know if managing your own super is right for you.
The biggest advantage of setting up your own SMSF is control. You can invest your money the way you want to – in companies, a property or a fixed interest term deposit.
You can choose among a wide range of investment options like direct mortgages, bank deposits, managed funds, direct property and shares.
Another advantage of DIY SMSF is lower fees. If you have over $300,000 in your superannuation, you may be able to operate your SMSF for less than the annual management fees of a company.
You can also use gearing and leverage to purchase assets like shares and property to expand your investment portfolio faster.
Remember that contributions to your SMSF are tax deductible so you can save more tax through franked dividend income and timing your capital gains carefully.
SMSFs also let you buy other assets for a maximum of 15% tax. SMSFs can continue indefinitely and family members may still enjoy this benefit even after the member's death.
However, you should be aware of the disadvantages, too. As a trustee, make sure you comply with super and taxation laws otherwise, you can be charged a hefty fine and even be imprisoned.
You also have to be savvy about investing to ensure that your SMSF is earning more than what a super company could earn. If not, you can choose to appoint brokers or advisors for a fee.
You will also be required to meet all record-keeping and reporting obligations such as transactions and contribution records and annual tax returns.
Just the same, you may want to ask the experts to handle this for a fee. Another downside of setting up your own SMSF is it may be less diversified than it could have been if handled by a superannuation company.
Note that gearing may add to the risk and though super funds sometimes come with insurance coverage, you still have to get an independent life, income protection and total permanent disability insurance that you need.
Do you think you can set up your own SMSF? Why don't you assemble a team of professionals, such as a lawyer, experienced investor, SMSF expert and financial partner to help you?
You can start with a solicitor, accountant, investment strategist and financial planner. Check their fees and accreditation and don't be afraid to get a second opinion.
ED CHAN is founder and non executive chairman of <a href="https://www.chan-naylor.com.au/" target="_blank">Chan &amp; Naylor Accountants</a>.
<a href="https://www.chan-naylor.com.au/contact-us/?utm_medium=propertyobserver" target="_blank">Click here</a> to schedule a chat or call one of their <a href="https://www.chan-naylor.com.au/contact-us/?utm_medium=propertyobserver" target="_blank">local offices</a>.
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How to decide if you should set up your own SMSF: Ed Chan

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GUEST OBSERVER 
If you are selling your home, you can claim the main residence tax exemption for the property you live in, including the land adjacent to it and other structures associated with the property like a separate garage or laundry. 
The main residence exemption includes compulsory acquisition of the main residence.
A residence or dwelling is a property used mainly for residential accommodation, including a cottage or home, a flat or apartment, a strata title unit, a unit located in a retirement village and a house boar, caravan or mobile home.
The land covered by the main residence exemption is close to, near, adjoining or neighboring the dwelling.
To be tax exempt, the land and dwelling should be sold together and the owner should have used the land mainly for private and domestic purposes with the dwelling. The total area should also not be more than two hectares. If it is more than two hectares, the owner can choose which two hectares will be exempt and the remainder will subject to CGT.
A home unit or flat usually comes with areas that are separate physically from the unit, such as a store room, laundry or garage.
If these areas were used primarily for private and domestic purposes associated with the unit, they will be exempt from CGT as well. However, if these structures are disposed separately from the unit or flat, the capital gain or loss will not be exempt from capital gains tax.
Ed Chan is founder and non executive chairman, Chan &amp; Naylor Accountants and can be contacted <a href="https://www.chan-naylor.com.au/">here</a>.
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Is your adjacent land or separate structure exempt from CGT? Ed Chan

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GUEST OBSERVER
The countdown to 1st July 2017 begins and people need to act now.
Starting 1st of July, superannuation legislation will change in Australia and everyone needs to understand how the changes will affect them.
Australians are encouraged to plan ahead with the upcoming super changes such as the $1.6 million transfer balance cap, removal of tax exemption for transition-to-retirement pensions, cut in annual concessional (before-tax) contributions cap to $25,000 and catch-up concessional contributions over 5 year period from July 2018, among others.
One advantage to the annual concessional before-tax contributions cap cut is the catch-up concessional contributions.
However, it will not start until 1st July 2018. Unused portions of the concessional cap every year will be allowed to be carried forward for up to five years if you have an account balance of $500,000 or less.
Australians who consider making super contributions starting July 2017 should know that the annual concessional before-tax contributions cap will be a lot lower than previous years, dropping to $25,000 from $30,000 for people under 50 and $35,000 for those over 50.
Starting 1st of July 2017, more Australians will pay double contributions tax (15% + 15%) because of the lowering of the income threshold from $300,000 to $250,000.
Those with adjusted taxable income of over $250,000 will have extra contributions tax and all concessional contributions will have 30% tax instead of 15%. Those in certain public sector funds will be hit with this extra tax which will raise $2.5 billion in four years.
According to the government, only a small number of affluent Australians will be affected by the superannuation changes.
The 2016 budget claims that the changes will affect only 4% of people in super but some disagree, saying it will impact a lot more people than the government expects.
Other issues include estate planning and succession.
Where the death benefit exceeds $1.6 million in estate planning, the excess should be cashed out as a lump sum. Those who wish to retain the superannuation benefits through reverting or paying a pension to their dependents upon inheritance will also be affected.
Those who are in second marriages and wish to make provision for children from a previous marriage will also be impacted.
People have already structured their estate to give pension to their children from their superannuation while the spouse can access the balance as well. With the $1.6 million cap, funds may no longer be enough to sustain the pensions and spouse’s standard of living.
The superannuation changes may be plugging revenue holes instead of building a sustainable system, which can provide for retirement adequately.
This may even result in bigger demands on public finances down the line. People may be discouraged to build their super and find other investment vehicles instead. They may turn to residential property investment but housing affordability remains an issue.
The good news is that superannuation will be more flexible for those with different work patterns as the new caps will be eligible for tax deductions.
This will be beneficial to those who salary sacrifice, who are self-employed and have part-time work.
 
Ed Chan is the founding partner of <a href="https://www.chan-naylor.com.au/" target="_blank">Chan &amp; Naylor</a>.
 
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Superannuation changes and their impact on estate planning and succession: Ed Chan

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GUEST OBSERVATION
Often when commentators use "income" to "property price" ratios and compare our property prices with other countries or even different periods in Australia and conclude that property prices are either over valued or undervalued, they are using the wrong statistics. 
We are currently being told that property prices when compared to our income levels make property prices unaffordable and therefore there will be a correction soon. 
We hear this especially from overseas commentators visiting Australian shores.
Harry Dent and Robert Kiyosaki are two such visitors to our shores recently who have said our property prices are overvalued when compared to our income levels. 
If you simply measured those two statistics against each other then one could arrive at that conclusion. 
However affordability is a function of house prices, income and interest rates. It's not simply between income and property prices. 
If you look at the graph below from BofA Merrill Lynch Global Research which compares: 
<ol>
<li>Implied price based on income growth  </li>
<li>Implied price based on income growth and interest rates </li>
</ol>
<img src="/images/2015/01/30/chan%20jan%2030%20one.png" alt="">
As you can see from the graph the red line is a lot below the blue line indicating that property prices are hugely overpriced. Most commentators use this line to run their argument that property prices as a ratio of income is in a bubble and a correction is imminent. 
If you look at the green line it is above the blue line which indicates that property prices as a ratio of income and interest rates are still affordable and not in a bubble. 
I think house price growth will slow in 2015 against a back drop of increasing unemployment figures amongst other indicators.
Ed Chan is founder and non executive chairman of <a href="https://www.chan-naylor.com.au/" target="_blank">Chan &amp; Naylor Accountants</a>.
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Australian housing is not overpriced - and here's why: Ed Chan

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GUEST OBSERVATION
Once again we have seen some commentators pushing for the abolition of negative gearing. 
The claim is that the government has lost some $13 billion dollars of revenue by allowing tax breaks through negative gearing to the 'so called rich'. 
As the government is trying to find savings to get the budget back in the black they have been criticized for asking the 'poor' to shoulder most of the budget cuts through GP co-payments, loss of family rebates, higher university fees, etc, etc, whilst so called 'rich' property investors are getting away with generous tax breaks through negative gearing. 
This is simply misrepresenting the facts.
Whilst taxpayers have claimed a total of $13 billion in losses in their tax returns, the actual revenue forgone by the government is calculated at their individual tax rates. 
Thus at an average tax rate of 35% the lost revenue is only $4.5 billion.
So the government has not lost $13 billion dollars by allowing negative gearing, but rather $4.5 billion.
Public housing provided by the government only accounts for around 4% of investment properties. The other 96% of housing is provided by the private investor.
Should they disincentivise property investment by removing negative gearing, we would see the government having to shoulder the weight of providing a much larger percentage of housing for tenants.
This would in effect cost the government much more than the $4.5 billion dollars a year in revenue forgone due to negative gearing.
In fact it would cost the government in the hundreds of billions to provide public housing.
You may recall that the Keating government attempted to remove negative gearing in the 80s but reversed their decision when the queues for public housing doubled.
Secondly there are around 1.6 million property investors in Australia and most of them are not so called 'rich'. 
In fact most property investors only own one property and fall into the category of middle class. They certainly are not considered 'rich'. 
In fact they should be applauded for the sacrifice to their lifestyle (due to the shortfall created by negative gearing) as they attempt to invest for their future and in so doing, reducing the government's burden in providing them an old age pension when they retire. 
In addition they save the government billions of dollars in not having to provide public housing for those unable to buy their own homes currently. 
Not to mention the knock on effect to the economy that property investors produce.
However negative gearing is only one piece of the jigsaw puzzle.
When it comes to the property market, many other factors such as jobs, interest rates, confidence, supply etc, have a far greater effect on the property market than negative gearing.
We need to have a growing economy which leads to increased revenues for the government as businesses do well and able to hire more people and with more jobs, our standard of living is improved. This will ensure the property market is stable and will continue to grow steadily.
Supply is a very important factor as successive governments have not provided the policies to generate more supply in past years. 
Ed Chan is non-executive chairman and founder of <a href="https://www.chan-naylor.com.au" target="_blank">Chan &amp; Naylor Property Accountants</a>.
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Negative gearing only one part of the property puzzle

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GUEST OBSERVATION
Now that is a dramatic headline and I left off 10 extra words: 'If you want to be rich and they are not'.
By the way that applies to all your friends also. 
If you want to be a great fisherman, then listen to someone who is a great fisherman.
If you want to be a great cook, then listen to someone who is a great cook.
If you want to be wealthy, than listen to someone who is wealthy.
I know that sounds like common sense but sense is not that common
What is even more important is the opposite to "listen to an expert" and that is "not to listen to a non-expert".
So before you decide whether to listen to someone or not, just look at their track record.
I know that's common sense, but how often have we been influenced by our friends and what their well-meaning advice has on us.
How many times have friends or family told us we were crazy to buy property when they don't have any themselves and really have no idea about it.
How many times have friends and family told us how to get rich when they themselves are not rich. We love and trust them so what they say tends to have more of an impact than the words of strangers.
However for example if your parents are not financially wealthy and you listen to them then you will end up exactly where they are.
If you listen to everyone instead of being selective about whom you listen to than you will get completely confused.
Ed Chan is a founding partner of <a href="https://www.chan-naylor.com.au/" target="_blank" rel="nofollow">Chan &amp; Naylor</a> accountants and a leading property tax specialist.
He has co-authored three best-selling books as a seasoned property investor who understands the relationship between property investment and tax.
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Love your parents, but don't listen to them

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Toby Johnstone wrote in the Sydney Morning Herald back in January 2014 that "investors' love affair with Sydney's property market could be over, with experts anticipating a slowdown in property speculation." 
"All the pointers are there showing that the Sydney investor market has overshot its fundamentals," the article quoted Andrew Wilson, the senior economist at Australian Property Monitors.
In the same piece, RP Data senior research analyst Cameron Kusher agreed, saying, "investors thinking of getting into the market had missed the boat. Whether you are chasing capital growth or rental return, neither look particularly strong at the moment certainly not as strong as 12 to 18 months ago. Given that, I do think that we will see a pullback in investor activity this year."
So what do you think? 
Recently I came across a graph (pictured below) that tracked both property growth over a long period of time but also identified yearly rates of change in property values. What's interesting about the graph below is that it shows where we are in the property cycle. 
 <img src="/images/stories/2014/03/14/chan%20march%2014%20one.png" alt="">
Source: Jon Giaan
The blue line shows property values but the orange line shows the actual change in property values year on year, and this is much more relevant in terms of determining when to get into the market and whether the market has run out of steam. 
You can see clearly that the market goes through many years with increasing annual growth rates and then reducing annual growth rates until finally several years of increasing negative annual growth rates before repeating itself. 
<blockquote>
There are several more years of increasing yearly growth rates before the yearly growth rates start to taper off. 
</blockquote>
The green line shows the current trend is upward in nature and, if history this will go on for a few years before the growth rate tapers off year on year until negative growth. 
You can see the positive yearly growth years are much more than the yearly negative growth years and that is why the blue line shows the property market trending upwards over the longer term. 
This also demonstrates that there are several more years of increasing yearly growth rates before the yearly growth rates start to taper off. 
In other words, if last year’s growth was 9.14%, and if the graph is right, we should get double digit growth rates this year and the next year an even higher rate. After that the yearly growth rates, whilst still positive, will be a lower rate year on year until it becomes negative. 
The reason for this is because of human nature. 
People are broken into four groups:
<ol>
<li>Early adopters</li>
<li>Middle adopters</li>
<li>Late adopters </li>
<li>Never adopters </li>
</ol>
The majority of people are middle to late adopters and they tend to create the momentum that is typical of property cycles. 
When the conditions first begin to change for property the early adopters get in first but the majority of people sit back waiting for more certainty and more people to invest. Hence the saying "the majority of people are like sheep".
In the meanwhile, if conditions change early adopters are also the first to get out (sometimes prematurely) but the middle adopters are still just getting in and this creates the momentum that shows up in the graphs as continuing forward momentum. 
This is than added to by the late adopters who are now just getting in, thus providing the "braking" effect to a plummeting of the annual growth rate. This gives the wave pattern we see in orange. 
If you believe the historic property cycle will repeat itself, then this graph demonstrates that the momentum has started to build, the middle adopters are still getting in the market and we are not as yet at the top of the yearly growth rate cycle.
Whilst there are no guarantees, the graph seems to indicate we are still on the upward path and we have not yet started to experience reducing growth rates which would normally run for several more years before we experience negative yearly growth rates. 
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Is it the time to get into property?

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The property market ebbs and flows over the middle to long term and different forces come into play to cause this.
For example economic growth with low unemployment, low interest rates create the demand for housing which attracts developers to build to meet this demand.
Eventually demand is met and the market reaches saturation as developers may have built too many properties and this causes developers to cease building until the oversupply dries up and demand is there again.  
This may take many years before the tide turns again however it creates the ebbs and flows that are associated with prices moving up and down.  
That was a very simplistic over view of the market. There are many complex dynamics that affects the market as well, the overseas confidence and the Australian dollar.  
One particular area that has not had much coverage but could be a great indicator of the potential movement of property prices is the difference between yields and property prices.  
As demand from investors make up a significant part of property price movements and investors are focussed on returns on investments such as rent yields, we should look at the correlation between rent yields and capital value.  
Let’s see how rental yields dictate where we are in the property cycle 
As rents increase it attracts investors into the property market, especially since the return from fixed interest instruments such as term deposits and other cash investments are considerably low at the moment.  
There is much talk from many economists about the end of the mining boom and predictions of a slowing economy due to China’s slowdown and running into potential head winds with unemployment growing to over 6.5% and economic growth slowing to below 2% per annum over the next five years causing a possible recession on the horizon.  
Whenever economists predict the worst, share investors react first, by cashing in their stocks for safer investments but cash returns are so low that property is the next best group to invest in. So as people hop out of the share market and into the property market, it generates demand for property.  
The other group that drives property prices are owner occupiers.  
Since interest rates on home loans are at its lowest, many people who are renting find it cheaper to purchase, causing a second group of people who drive demand in property.  
The last group that drives property is the supply line. Developers have not been building, where by there is also a shortage of properties.  
Our net immigration of around 250,000 into Australia also drives demand for property.  
Most rental yields are now over 4.2% to 5.2%. Interest rates on home loans are as cheap as 4.85% fixed for three years.  
Research from last month’s RP Data shows, rents have outpaced growth in values since the GFC and created a gap which indicates the conditions are there for the property market to move upwards.  
According to RP Data since the end of 2007, house prices have grown 13.4%percent. For five and a half years, combined capital house prices have been below inflation.  
However over the same period rents have grown 32.1%, almost twice the rate of house prices.  
Refer graph below:
 <img alt="chan_sept_24_chart_one" height="189" width="470" src="/images/stories/2013/09/24/chan_sept_24_chart_one.png">You can see the gap is largest right now which means yields are increasing.  
When yields are so high (namely it’s very expensive to rent) it opens the door for people to buy.  
When people start buying (owner occupiers) it pushes prices up faster than rental increases, thus reducing yields down to normal levels.  
As you know, to calculate yield, one must divide the yearly rent by the value of the property, e.g. rents per week of $500 is $26,000 for the year, divided by the value of the property $450,000 gives a rental yield of 5.78%.
So if property values drop, the yield would increase and should property values increase, the yields would drop, without the rental moving at all.  
The last property boom started when yields were around 6% to 7% and as the property market boomed and the values increased, the yields dropped to around 4% per annum making it more difficult to buy into the property market.
When the yields eventually drop to around 3% due to property growth it will hit a ceiling where the market will no longer tolerate and people will go back to renting and put pressure on rents to rise to a level where it becomes cheaper to buy again and thus the cycle repeats itself.  
Let’s look at city by city  
In Sydney, home values have increased by around 20% since the end of 2007, while rents have increased 35%. The gap between rental and value indicates potential for capital growth.
 <img alt="chan_sept_24_chart_two" height="206" width="470" src="/images/stories/2013/09/24/chan_sept_24_chart_two.png">In Melbourne both rents and capital growth have increased around 20%. This indicates that there is still a way to go before Melbourne is in a position for capital growth.
 <img alt="chan_sept_24_chart_three" height="220" width="470" src="/images/stories/2013/09/24/chan_sept_24_chart_three.png">In Brisbane, house prices have fallen by 3%, and rents have grown 27%. The huge gap between values and rental growth say’s that the high rentals will drag up the values so Brisbane shows a lot of potential.
 <img alt="chan_sept_24_chart_four" height="206" width="470" src="/images/stories/2013/09/24/chan_sept_24_chart_four.png">In Adelaide as well, house prices have grown just 7%, while rents have increased 21% and shows great potential
 <img alt="chan_sept_24_chart_five" height="227" width="470" src="/images/stories/2013/09/24/chan_sept_24_chart_five.png">In Perth, the gap is quite large where home values have only grown 2% since the end of 2007. Rents on the other hand have increased 48%. Perth appears to have the greatest potential for capital growth.
 <img alt="chan_sept_24_chart_six" height="205" width="470" src="/images/stories/2013/09/24/chan_sept_24_chart_six.png">Please be aware that there are many indicators that drive property prices and this analysis is based only on one indicator, but a useful indicator.
 
<hr>
Ed Chan is a founding partner of <a rel="nofollow" target="_blank" href="https://www.chan-naylor.com.au/">Chan &amp; Naylor</a> accountants and a leading property tax specialist.
He has co-authored three best-selling books as a seasoned property investor who understands the relationship between property investment and tax.
 
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Rental yields, where do they indicate we are in the cycle and where should you buy? Ed Chan

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Everybody is aware that property values move up and down in cycles.
The strategies used vary for different stages of the property cycle should move with them.
Growth Stage 
 
In a growth stage it's always best to go interest only with your loans as the repayments are less, leaving you with extra cash flow to fund another property. Two properties growing will make you more money than one property growing.
Decline Stage 
 
However the strategy is completely different if the property is in a decline stage. This stage is usually accompanied by a recession.
In a recessionary state there is pressure on interest rates to drop in order to stimulate the economy.
At this point the strategy should be to pay down your debts with lower interest payments you will be able to pay off your principle faster.
In a recessionary state most assets are not growing so the capital gain could either be negligible or even have declined.
Hence, if you pay off your debts in this period you will save paying interest. If you are saving on paying interest that’s the equivalent of earning it.
For example if your interest rate was 6.15% than by paying off the principle and not having to pay 6.15% interest you are actually earning 6.15%.
It's very unlikely in a down market you could earn 6.15% on your money. So the best return on your investment in this period is to pay down your principle.
Additionally in a down cycle your property values are also declining in the short term.
Lower interest rates allow you to pay off more of the debt so that when the property market recovers again you will have a lower debt level or greater equity. Therefore you have manufactured some equity if you like in a down market.
As the property market recovers so will interest rates go up but hopefully by then you would have paid off sufficient debt that it will be positively geared in addition to the equity being greater.
So the moral of the story is make sure you roll with the circumstances and adapt your property investment strategies to the market conditions and take advantage of them as they present themselves.

<hr>
Ed Chan is a founding partner of <a rel="nofollow" target="_blank" href="https://www.chan-naylor.com.au/">Chan &amp; Naylor</a> accountants and a leading property tax specialist.
He has co-authored three best-selling books as a seasoned property investor who understands the relationship between property investment and tax.
 
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Growth v decline; adjusting your investment strategy for stages of the cycle: Ed Chan

There’s a quiet patch of <a href="https://www.apartments.com.au/developments/hawthorn-vic-3122">Hawthorn</a>, between the bustle of Glenferrie Road and the curve of the Yarra, that rarely sees change, and even more rarely, new apartments. But that’s exactly where <a href="https://www.apartments.com.au/developers/pomeroy-pacific-quattro-corp">PQD</a> is planting Kooyongkoot: a deliberate, 18-residence answer to the question of what downsizers actually want.

“This is something this pocket of Hawthorn has never seen before,” says Fil Gacesa, head of sales at PQD. “<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a> will deliver just 18 large-scale apartments in the heart of Hawthorn. It is the true definition of resort-style living.”

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/59D7VxzltmM?si=1iCzRD7FRneKryfv" title="YouTube video player" width="560"></iframe>

That scale is central to the story. It’s what allows for two dedicated lift cores, short corridors, and a generous lightcourt that draws natural ventilation and sunlight into every residence. It’s also what makes room for the sort of amenity usually confined to high-density towers: a fully equipped wellness centre with infrared and traditional saunas, yoga and pilates studio, cold therapy shower, and treatment room. There’s a golf simulator, car and dog wash stations, and extensive storage too, not bolted on, but baked in from the start.

But more than the checklist, it’s the design intent that carries weight. “This project has been many years in the making,” says Mark Pomeroy, Director of PQD. “Not just in planning, but in listening, to what our buyers and the local community are looking for”.

[smartcode_project:default project_id=102717 project_image_fid=355289]

That listening shows up in the materials, oak floors, natural stone, V-ZUG appliances, and in how space is handled. Penthouses feature private rooftop terraces with pools. Terraces and garden residences embrace outdoor connection. Inside, the layouts skew large and open, geared for hosting, not just housing.

Architecturally, <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>’s approach is grounded. There’s no reaching for spectacle here. Instead, the building offers a sculptural calm, anchored by landscaping from Eckersley Garden Architecture.&nbsp;

“We wanted to create spaces that feel expansive, serene, and meaningfully connected to daily life,” said founding partner Chris Stribley elsewhere.

[smartcode_project:default project_id=102717 project_image_fid=355304]

That sentiment, calm, connection, echoes in the location itself. Kooyongkoot sits just a short stroll from Central Gardens, Fairview Park, and the Rivoli Cinema. Tram lines and schools are close, but the street is tucked, quiet, and leaf-lined.&nbsp;

“Residents of Kooyongkoot will be a short stroll from Fairview Park, Central Gardens, and the Glenferrie Road retail strip," Gacesa notes, "but you're also cocooned in this peaceful pocket behind extensive landscaping by Eckersley Garden Architecture.”

Kooyongkoot is set for completion in late 2026.

[smartcode_project_cta:default project_id=102717]

Staff Writer

The project that said no to compromise: Inside Kooyongkoot, Hawthorn

When long-time Ivanhoe locals Graeme and Catherine, decided it was time to downsize, they weren’t necessarily in a rush.&nbsp;

Like many in their stage of life, they had started thinking about apartment living, but anticipated making the shift in two to three years.

That timeline changed when they visited <a href="https://www.urban.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela</a>, a new boutique development by <a href="https://www.urban.com.au/developers/salter-brothers">Salter Brothers</a>. The project ticked all the boxes they were looking for: location, quality design, and long-term lifestyle benefits, which prompted them to bring their decision forward.

“It was the right place at the right time,” they said. “We knew immediately it ticked all the boxes, and we didn’t want to wait.”

[smartcode_project:default project_id=342 project_image_fid=358855]

Their decision to downsize was driven by a combination of practical needs and lifestyle considerations. Their existing home, while much loved, had become increasingly difficult to maintain. It spanned multiple levels, included extensive front and back gardens, and was starting to show the wear that comes with age.&nbsp;

They were looking for a more manageable lifestyle, one with less upkeep and more freedom. A brand-new apartment with no maintenance requirements and the ability to simply “lock up and leave” gave them peace of mind and a greater sense of control over their future.

Financially, the purchase made sense as well. The available stamp duty savings, strong price-to-value offering, and timing of the settlement suited their plans, making the transition smoother and more cost-effective. The apartment's design and inclusions further supported their choice.

[smartcode_project:default project_id=342 project_image_fid=357493]

The layout was both functional and flexible: three bedrooms, a butler’s pantry, a separate laundry, and a large open-plan living area. It gave them the freedom to host a family, accommodate guests, or set up a home office. The expansive balcony and elevated views added to the appeal, providing a sense of openness and connection to the outdoors.

“It just had a really good flow,” Catherine noted, something they found lacking in many other apartments they’d considered, particularly in the established market.

Candela’s boutique scale was another deciding factor. With a smaller number of residences and a top-floor penthouse position, the couple felt the development offered the privacy and space they were looking for, without feeling isolated.

“We liked that it wasn’t a huge development. It felt well-balanced, modern but still with a sense of community, not overwhelming,” they said.

[smartcode_project:default project_id=342 project_image_fid=357508]

Equally important was the ability to remain in Ivanhoe, a suburb they know well and have deep roots in. After 46 years in the area, proximity to local parks, shops, and familiar faces mattered just as much as the apartment itself.

“We didn’t want to give up the community we’ve known for decades. Candela allowed us to upgrade our lifestyle while staying in the place we call home.”

With a Walk Score of 90, the village location supports a convenient, connected lifestyle. <a href="https://www.apartments.com.au/developments/ivanhoe-vic-3079">Ivanhoe</a> Station is just a eight-minute walk away, and the neighbourhood offers access to parks, cafes, restaurants, and schools along Upper Heidelberg Road, all within easy reach.

Beyond the apartment, the couple also saw value in the broader vision for Candela, one that integrates residential living with public spaces and local amenities.&nbsp;

The development introduces 58 new apartments as well as a mix of commercial and social spaces that integrate contemporary architecture with the suburb’s existing character.&nbsp;

At ground level, residents will find a charming café and a lifestyle wellness centre, perfect for unwinding and rejuvenating. Meanwhile, the rooftop garden offers a stunning vantage point for residents to enjoy breathtaking sunsets, host gatherings, or enjoy barbecues with family and friends. It's not just a place to live; it's a vibrant community where every moment is an opportunity to connect and create lasting memories.

[smartcode_project_cta:default project_id=342]

Why Ivanhoe locals are choosing to downsize to Candela

Mark and Roy Makari are expanding their presence in Sydney’s South West with a second major proposal for Leppington, this time envisioning a 900-dwelling mixed-use development just 850 metres from their previously lodged tower trio on Fifth Avenue.

Project management and construction management firm Creative Vision filed the plans for the&nbsp;multi-building project at <a href="https://www.apartments.com.au/new-apartments/230-rickard-road-leppington-nsw-2179">230 Rickard Road, Leppington</a>. The proposal seeks to establish a new focal point for the precinct through a high-density, transit-oriented development supported by diverse land uses.

According to the Scoping Report prepared for the Department of Planning, the scheme includes around 900 apartments across multiple towers, including 135 dwellings designated for affordable housing. A mix of market and subsidised apartments will be supported by ground-level activation through retail and office space, a childcare centre, and a hotel, forming a comprehensive urban precinct.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="34797362-f3dc-4d84-8235-2657fc5f3bde" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan.png?VersionId=Uzckrz9tUpDQl5lX1_WMhjnv16bsr8wG" />

The Design Report by <a href="https://www.apartments.com.au/architects/studiosc-0">Studio SC</a> notes that the project “intends to deliver a high-quality, high-density built form that supports the vision for the Leppington Town Centre, integrating mixed-use outcomes and public domain upgrades.” The development is expected to be delivered in stages, although a precise timeline is yet to be confirmed.

The project will be assessed through a future State Significant Development Application, with the Scoping Report indicating the team will seek design excellence via a competitive process or through an expert design review panel. Early massing diagrams suggest a series of mid- to high-rise buildings framing a central landscaped spine, with emphasis on pedestrian permeability and public space.

The planning documentation flags a strong sustainability agenda, stating that the development will “respond to the urban heat island effect, incorporate water sensitive urban design, and prioritise active transport”.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="369d7b54-1279-4cde-88ec-dcb215594414" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Podium_1.png?VersionId=QArL7B2kkLt63vl5xvL0FNV_ardAlez4" />

The proposal follows in the footsteps of the Makaris’ nearby Fifth Avenue site, where they’ve submitted plans for three towers comprising nearly 500 apartments, with 10 per cent dedicated to affordable housing. That project features commercial podiums, a childcare centre, and a new public park that would occupy more than a third of the site.

Both developments are situated within walking distance of Leppington Train Station and fall under strategic precinct plans promoting higher density housing. The town centre is undergoing substantial transformation, driven by state government planning reforms aimed at fast-tracking housing delivery.

Together, the two projects represent a combined ambition of nearly 1,400 new homes across just under two kilometres of central Leppington.

First look: 900-home mixed-use precinct planned for Leppington

Leading Australian integrated property development group, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>, has released the signature penthouses crowning its landmark AURA by Aqualand precinct at 168 Walker Street in North Sydney, unveiling Il Magnate and La Divina as the largest and most luxurious penthouses in the suburb.

With prices anticipated to commence from $15 million, and each accompanied by a new Porsche Carrera 911 valued at over $500K, the residences mark the culmination of <a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA by Aqualand</a>’s decade-long journey and the beginning of its final sales chapter. 
&nbsp; 
Their release follows more than $850 million in record-breaking residential sales and the building’s completion and occupation.

[smartcode_project:default project_id=30959 project_image_fid=358868]

The Richards Stanisich-designed 284 sqm Il Magnate and 224 sqm La Divina penthouses, collectively known as The Icons of AURA, are conceived as grand luxury homes rather than apartments, with expansive proportions, elevated materiality and curated identities that reflect their status as one-off residences.&nbsp;

Il Magnate features a grande master suite, complete with substantial walk-in dressing area and ensuite, three other bedrooms, second ensuite and another bathroom, powder room, open plan kitchen, scullery, substantial dining area and generous living room divided by a feature fireplace, and a multifunction wintergarden, which is ideal for a study and adjoining office breakout space. &nbsp;

Meanwhile, the La Divina residence offers the same amenities, sans the powder room, on a slightly smaller alternate floor plan configuration.

[smartcode_project:default project_id=30959 project_image_fid=358863]

Each occupies half of AURA by Aqualand’s topmost 28th level, comes with four secure car spaces and pairs sweeping Sydney Harbour panoramas with large-scale living spaces, refined detailing and a level of craftsmanship and amenity rarely offered in the North Shore market.&nbsp;

Penthouse residents will also receive Etymon’s ‘Black Key’ private concierge and lifestyle management service, an invitation only offering providing the ultimate in bespoke personalisation, including a range of everyday discrete services, from dinner party management, grocery deliveries, pet feeding or plants watered, dinners, snacks and coffee deliveries, event ticket sourcing, right up to organising travel visas and international airfares. Rarely seen in Australian properties, the service provides residents the benefits of living in a world-class luxury hotel-style home, akin to The Ritz, or the Waldorf Astoria.

[smartcode_project:default project_id=30959 project_image_fid=358862]

<a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>’s Director, Kirsten Stanisich, said the studio set out to craft residences that feel profoundly considered, contemporary and deeply connected to their setting.

“From the outset, we approached these penthouses with the sensibility of a grand Parisian residence - generous in scale, elegant in proportion and designed to feel more like a handcrafted home than an apartment," Stanisich said.

“Their elevated position and sweeping harbour outlook informed every decision, creating a rare connection between urban sophistication and natural calm. We shaped each space with expressive materiality, sculptural forms and bespoke detailing that invite touch and interaction.&nbsp;

“The result is a pair of residences defined by volume, light and an inherent softness - refined, flexible and deeply personal. These penthouses are unlike anything else in North Sydney, offering a sanctuary of true luxury framed by some of the city’s most remarkable views.”

For Aqualand’s Head of Sales &amp; Marketing, Alex Adams, the collaboration with Porsche underscores the shared ethos behind the residences.

“Aqualand’s collaboration with Porsche underpins both brand’s sharing an obsession with craftsmanship, design excellence, and enduring value," Adams said.

“Our penthouses are created for those who appreciate the finer details and expect the extraordinary at every touchpoint. Including a Porsche simply extends that experience beyond the residence - it’s a continuation of the lifestyle our buyers already live.”&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292862]

Aqualand’s Managing Director, Jin Lin, said the penthouses represent both the pinnacle of AURA by Aqualand and an important design benchmark for the company’s future pipeline.&nbsp;

“These stunning penthouses reflect the purest expression of Aqualand’s design ambition," Lin said.

“The unparalleled design intent makes them not only the glistening crown of AURA by Aqualand, but the crown of North Sydney itself. They’re essentially a thank you gift to a burgeoning community that deserves this level of quality and architectural consideration.&nbsp;

“We’re leveraging the unrivalled standard set here as the foundation for what comes next, including our upcoming Anderson Street, Chatswood; 15 Blue Street, North Sydney and Central Barangaroo projects. Purchasers of these penthouses will essentially be living inside the blueprint of Aqualand’s future.

“These landmark residences demonstrate how far North Sydney has evolved and the strength of demand for highly curated, bespoke luxury homes. They’re more than penthouses, they’re legacy residences.&nbsp;

“With AURA by Aqualand now a thriving new precinct with residents well and truly settled, and our in-house world-class lifestyle amenity activated, Il Magnate and La Divina represent a once-in-a-lifetime opportunity to secure an extraordinary piece of North Sydney’s future.”

[smartcode_project_cta:default project_id=30959]

Joel Robinson

Aqualand launches North Sydney penthouses with free Porsche Carrera 911

<a href="https://www.apartments.com.au/developments/bokarina-qld-4575">Bokarina</a> Beach has quietly evolved into one of the Sunshine Coast’s most complete coastal lifestyle precincts, defined not just by proximity to the ocean, but by how residential living, local retail and everyday amenity are stitched together.&nbsp;

Gardner Vaughan Group’s <a href="https://www.apartments.com.au/new-apartments/bask-bokarina-38-bokarina-boulevard-bokarina-qld-4575">Bask Bokarina</a> now represents the final residential chapter in that transformation.

[smartcode_project:default project_id=141609 project_image_fid=333360]

Over recent years, the Bokarina Beach precinct has taken shape as a walkable, community-oriented neighbourhood, anchored by beachfront access, Lake Kawana to the west, and a growing mix of cafés, specialty retail and public open space.&nbsp;

With Zinc Bokarina already delivered next door by <a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> (GVG), Bask is the last opportunity to buy a brand new apartment within the precinct, effectively rounding out a fully formed coastal village.

GVG has positioned Bask to strengthen that lifestyle framework. Ten ground-floor retail spaces are planned beneath the residences, extending Bokarina Boulevard’s existing activity and reinforcing the area’s everyday convenience, from casual dining and coffee to local services, within a short walk of the beach.

[smartcode_project:default project_id=141609 project_image_fid=333359]

The residential component comprises 135 apartments across two buildings, Mydas and Caretta, with a clear shift toward larger three- and four-bedroom layouts and penthouses. That mix reflects a maturing buyer profile in Bokarina, where demand is increasingly led by owner-occupiers and active downsizers seeking space, permanence, and connection to place rather than short-term coastal accommodation.

Design and amenity have followed the same logic. Residents will have access to a heated plunge pool, gym, private dining room with a full kitchen, landscaped communal gardens with barbecues and a firepit, and a shared herb and vegetable garden, facilities intended to support daily use rather than resort-style turnover. Pet-friendly features, including a dog wash bay, acknowledge both buyer expectations and the area’s dog-friendly beach, located around 250 metres from the site.

[smartcode_project:default project_id=141609 project_image_fid=333366]

“Bokarina has become one of the Sunshine Coast’s most desirable beachside communities, and Bask represents the very last chance to buy new in this location,” GVG Director Sam Gardner said.&nbsp;

“Our focus has been to create spacious, functional apartments that meet the needs of locals who want to downsize without compromise, as well as those seeking a full-time coastal retreat.”

Positioned between the Pacific Ocean and Lake Kawana, Bask apartments have been oriented to capture outlooks toward the water or the Glass House Mountains, reinforcing the project’s connection to its natural surroundings. With parks, beachfront paths, hospitals, retail and public transport already in place, Bask arrives at a point where the broader precinct is no longer emerging, but established.

Construction is expected to complete in Q3 this year, with apartments ready to move into this Spring.

[smartcode_project_cta:default project_id=141609]

Ed Chan

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