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I almost choked on my fresh brew of coffee as I read what I and the local agents consider to be low rental data reports, shared last week.
I do completely understand that the author is relying on data provided by Domain head-office; nevertheless, the Domain figures are, in my opinion, far from the true reflection of the current rental market.
"Poles apart we may say..."
Real Data and live data is what is required now and in keeping with property investor demands and the financial institutions that rely on these. Most can’t and don’t have the resources to call and drive around Sydney, nor do they know where to look.
"Relying on property portal listings by agencies; is definitely fraught with  danger..." 
The following reported numbers are what I believe reflect the true picture, one that will soon be the demise of many want-to-be investors and those that have this fear of missing out. 
NORTHMEAD NSW, 2152
Property portal shows: 34 units available for rent (21/6/2016)
Real Data: reveals closer to 260 units available
CANTERBURY NSW, 2193
Property portal showing: 98 units available for lease (21/6/2016)
Real Data: reveals 360 plus units now on the market for lease. 
PARRAMATTA NSW, 2150
Property portal showing: 217 units available for lease (21/6/2016)
* ONLY A WEEK AGO THE PORTAL DATA REFLECTED "156 Vacancies." On their figures alone, this is an increase of approximately 30 percent in only a week.   
Real Data: reveals an estimated number closer to 900 units available for lease.
Warning and Tips
There are more apartment blocks under the final stages of completion. These will have occupation certificates within the next 2-3 months.  We estimate another 300-500 properties to roll onto the rental market in Parramatta in this time. 
The above mentioned manifestation,  is not confined to Western Sydney.  Many suburbs of Sydney are experiencing similar developments...
Real Data
Real Data is a compilation of information gathered from local area real estate agents, knowledge of buildings under construction and communication with the selling agents and property managers.
Real Data should serve as a warning to people looking to enter the property investment market in Sydney. In particular, people that are looking to purchase property off the plan and in newly built apartment blocks.
We recommend that the investor/property buyer, seeks local real estate advice and looks carefully at the local rental market return trends and availability. 
 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
 
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Data and the demise of many want-to-be investors: Edwin Almeida

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The growing number of available apartments for-lease in Sydney; should send shivers down the spines of newbie investors that bought off-the-plan.
Not to mention, the investors that bought due to, fears of missing out (FOMO) and being pressured from so called financial-advisors (so called experts), the spruikers.
Unfortunately, this problem of oversupply and the lack of tenants won’t go away over the next few years, if not longer. Not even if you drank a few strong coffees and all to quell your fears.
Recent mainstream reports, are already talking about 200,000 new dwellings yet to be built and all coming to completion within the next 24 months.
Below is a preview of the growing local Sydney vacant-apartment market, in some of our suburbs. (Data sourced from leading property portal adds)
Tips on how to get your apartment tenanted, in a market of growing apartment-rental oversupply.
If you are one of the unfortunate investors, in any one of these apartment blocks or areas where there is a vast amount of vacancies; take these simple steps to have your property leased quicker than the others:
<ul>
<li>Insist on obtaining access to your unit prior to settlement: to take internal photos for advertising and to show the property to prospective tenants.</li>
<li>If you bought through an agency or marketing-company, note that this same company sold to a lot of other investors: therefore, list your property with a local property management agent (PM), they will focus more on your property.</li>
<li>Find out from the selling agents/marketing company, how many apartments are available for lease in your block. This information will give you a clear idea of the rental price offering: therefore, don’t be scared to be the first to drop the asking price in the block, if required.</li>
<li>Make sure your agent is aggressive. When you have 11-15 property managers on a building site and all waiting for potential tenants at the open: you need an agent that can move fast and one that is not shy.</li>
</ul>
Signs of the times
Our greater audience and readers, will no doubt have more tips on what to do. The four tips shared above, have worked well for our team, in the past and lately. Feel free to share.
The sooner your PM team has access to the unit, the better chance you have of renting your property and at a good price.
Recent experience
Our team has just leased a unit in a complex of 270 apartments. The team found out that there are approximately 256 available for rent; sold to investors that is. Our PM spoke to the landlord and he quickly put in place the tips shared above.
The leading selling agency and other PM agencies advertised at $620+/week on like units, for-lease. Our PM advertised the unit for $620 and on the day of the open: he scheduled for an early morning open, but he still had 10 other PM agents alongside offering their landlord's apartments.
When a tenant approached the group and walked around the building; our PM walked up to him, asked if he was after a rental. After discussions with the Landlord and further ongoing checks and balances from our team; they signed the tenant on a 12 month lease and for $600/week.
Two weeks on, and you will now see on the property portals and in the same building, adds for like apartments at $520-$580/week.
I dare say, there is probably another 150-220 apartments still available for lease in that complex.
 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
 
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The rise and rise of Sydney rental apartments: Edwin Almeida's warning to landlords

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Considering and discussing, the purchase of an investment property opens up all sorts of arguments, discussions and from time to time, polarizes the parties involved.
This is not to mention also spoiling a friendly neighborhood BBQ or coffee catch-up with a friend.
One of the many and current topics of discussion is whether we should buy new and off-the-plan apartments in one of the main three capital cities of Australia; namely Brisbane, Melbourne or Sydney?
I have taught and have written about off-the-plan purchases. The following reason for buying can be used as a blanket approach when considering a new apartment purchase. Notwithstanding, this strategy may be considered across any city or development, as a matter of course.
The main beneficial reason why an investor would buy a new apartment, before completion, was simple to understand in previous years. Developers needed pre-sales to support their construction application for the banks.
Pre-sales which are now predominantly called off-the-plan sales, had one major attraction in the past, which now appears to be lost. As an off-the-plan purchaser, there was a benefit; we bought early and saved from 5 and up to 10 percent the value “at the time” off the purchase price. This was measured against prices of similar completed apartments, on the day.
The current trend and market for off-the-plan purchases.
The current trend however, has bucked the reasoning behind the support given to developers with pre-sales.
On the one hand, developers have become greedy and with the support of the financial sector, have increased the asking price.
In other words, we now pay tomorrow’s market value for the apartment and with no added discount as a benefit. The underlying question is “but why?” This is all because of the highly speculative new client base: the overseas investors that have come in and in large numbers. As well as the Self-Managed Super Fund (SMSF) vehicles, set up for local speculators and investors.
Both overseas and SMSF investors are fueling the new-apartment development bubble as has never been seen before. With this in mind, developers and marketing companies have been able to increase:
<ul>
<li>The end property values to account for market forces that has seen a huge upswing in prices; and</li>
<li>To pay for the high commissions paid out to marketing agents and the financial sector. Commissions in the tune of 8-10 percent.</li>
</ul>
The repercussion of industry greed
The outcome of the high prices charged for new-apartments and higher commissions than the industry norm is a no-brainer; the losers are the buyers, most of the time.
For years, I have been discussing the need for the Real Estate Industry and watchdogs to tighten controls against this push, but my calls have fallen on deaf ears and the outcome is:
1)     We now have an understated over-supply of apartments across Brisbane, Melbourne and Sydney;
2)     The rental market cannot and will not effectively absorb the new supply, which will have an increase in rental vacancies; and
3)     The inevitable, valuers will value down apartments to safeguard their client’s interest, the banks.
We may well see drops of 20-30 percent in values and in the near future. Likewise, rental yields will diminish to 60-70 percent off what they are today.
Supply chart of apartments to be completed in the next 12-24 moths
<a href="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.56%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.56%20AM.png" alt="">
Where to from here?    
I have been asked by friends, clients and family; where to from here? I have shared the following with them for over 12 months and only now the mainstream are coming to the party.
1)     Hold and wait; wait for another 6-12 months before looking to buy, if you need to buy new.
2)     Most of the new apartments are under-engineered, badly built and come with a lot of issues.
3)     Have you noticed that most spruikers try and only sell you, new and off-the-plan apartments? and
4)     Communicate as much as possible with local real estate agents that don’t have invested interest in the new development. After all, they may be the ones that will manage the property for you.
The caption below is an article recently posted by a colleague of mine. It is a timely argument of what is to come. This is all due to the huge oversupply of high-rise development. When we match this information with the number of apartments currently under construction; it appears to be the makings of a nightmare for investors in high-rise developments. 
<a href="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.43%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/10/Screen%20Shot%202016-08-10%20at%208.31.43%20AM.png" alt=""> 
The full article may be found on: https://mortgageeproperty.com/foreign-investor-settlement-risk-soaring.html
Tips in managing your investment
If you do find yourself in a position that you have bought an off-the-plan apartment and your property is in the final stages of settlement; I recommend the following tip, to minimize long term vacancy.
Don’t rely on the selling agent’s “marketing company” to lease your apartment, particularly if they were the leading agency in the sales phase. You only have to ask; how many other investor’s apartments are they also trying to lease out? 
Now if you are looking to invest in new apartments, our old and proven theory remains steadfast. Invest in low set building blocks and preferably one’s that have no more than three levels.
More importantly, be sure to and look out for the next article on: buying in low set building blocks, versus high rise apartment blocks; winners and losers.  
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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Bumpy ride buying new apartments in Melbourne, Brisbane and Sydney: Edwin Almeida

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At a time where it would seemingly be an unfortunate game of “free-for-all” in the real estate and property arena that has negative-compounding effects on the public, the question remains; what institution or governing body, should take centre stage and curve the unethical practices of many agents, by adopting and implementing higher standards in new-training curriculums, before issuing licenses? 
Will it be the Real Estate Institute NSW (REINSW) or should Fair Trading and NSW Government offices alone handle the accreditations and certifications? Perhaps it should only be handled by specialists groups that are privately owned. Bodies that are licensed and empowered by the respective State Government.
No matter what the right or wrong answer may be, one thing is clear: it is presently a free-for-all in training provided to upcoming would-be real estate agents, as it is in the same agent’s behavior in and on their field of practice. It appears the answer is not closer today than it was yesterday. 
The reason for this article continues to center around current practices followed by real estate agents. Behavior that stems from practices adopted by agents in falsely presenting property to market and to bait consumers. Also further alarming discoveries of property not being properly represented. I have heard of property that has sold for 10 percent it’s true worth under a “forced legal auction [campaign]” and this being one of many that warrants further investigation and an article of its own. 
Staying true to this article and not being tempted to discuss our findings about these forced auctions, as I’m sure they will also make a great piece to read later on over another coffee; allow me to briefly discuss the anomalies around our industry’s state of affairs when it comes to training.  
The Real Estate Institute’s role
Admittedly, very little is known about the level and standard of training provided by REINSW. The actual course is not dissimilar to any other certification or licensing course found outside its walls. 
One thing for sure is that there is a common thread occurring, as most of the recipients of allegations and accusations labeled at agents for bad and unethical behavior, are actually members of the REINSW themselves. So the question is, how many have been trained and licensed through the REINSW's classrooms?
Yet, it is the voice of the REINSW that mainly calls on reform and changes to education but it appears in their eyes this will work, only if they are in control of the course curriculum and standards. 
I find it difficult to see how organizations with so much to offer as a lobby group, want to corner the market in so called implementing “ethical-training” measures but only as they see it. I won’t even venture into notions of parliamentary representation as a political party which has come from my friends in office at the REINSW.
My question to REINSW is simple. What other industry organisations and lobby groups train and license the work force they represent? 
The NSW Government
It is no secret and we all understand that our NSW Government Institutions are sadly under-resourced and therefore unable to maintain what I thought was once a well-controlled and monitored training and licensing unit. 
It’s not to say they don’t provide the service through TAFE courses. Again sadly, with privatization, options that are more readily accessed are available and the latter being the path of least resistance to many wanting to enter the industry. It is a no brainer to guess, where the wannabe real estate agents obtain their accreditations from.
The Private Sector
Most of the private Training Facilitators I know are both ethical and provide rigid and structured programs. I say most but despondently not all. 
Sadly, I feel it is in this lack of oversight by the government that some private institutions run what may well be questionable programs and courses to license an individual to sell and manage, the most valuable assets people have. 
However, this oversight cannot be blamed entirely on the current system, again how can governing bodies run proper audits when they are understaffed? 
What I am aware off is this: an audit is conducted on a private facilitator once every 5 years.  Please do tell me how this does not dissuade operators from implementing free-for-all training programs with very little accountability? 
I do not have the answer to what is the ideal solution but: if the real estate institute wants to rule the nest in providing training, again I say clean out your own house before preaching to the masses. If the Private Training Facilitators is the answer, then the governing bodies should implement auditing measures that are less susceptible to low rate training practices. Finally, if the government is to resume control, perhaps it’s also time the Federal Government got involved and laid down the law. Legal requirements with more stringent penalties and levels of accountability and all, before licensing individuals to deal with major assets.  
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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Curbing the free-for-all mentality of the real estate industry: Edwin Almeida

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Now, more than ever before, is the time to seriously consider and pay close attention to what your real estate agent promises you.
Don’t be too complacent and think that most agents actually care about your best interests. Most realtors wouldn’t shout you a cup of coffee, if it means actually putting their hand in their pockets to accommodate your needs.
No, this isn’t a rant about Vendor Paid Advertising (VPA). We’ve already had that discussion.
This article is about making sure, your agent, is looking after your best interests. Your interests when they suggest that your property is best marketed; via an auction campaign.
Below are some simple steps to follow and questions to pose to the agents that are hell-bent on auction strategies.
In this instance, the focus is on the auctioneer, more than the listing agent that wants to sign you up. Or in some cases: stitch-you-up.
Questions you need to ask about the auctioneer:
1)     Price: Is the auctioneer the cheapest in the area?
2)     Performance: How well does he/she perform?
3)     Pre-auction inspection: Will they actually come to view the home before the day of the auction?
4)     Price
Like everything, pay peanuts and you will get monkeys. But sometimes in the auction game, you also get very expensive baboons.
The key here is, don’t just base the decision on the criteria of “price”. Base your decision, in collaboration with the other two points, as well as price.
Performance
To help you better gauge the caliber of the individual that will have control of the sale on the day, make time to see them in action. Do it first hand and don’t rely on what their mate, the real estate agent, tells you about them.
Pre-auction inspection
I find it difficult to grasp the belief that an auctioneer, that has 5-9 properties to auction off in a period of 5 hours, can actually perform to their best of their ability on the day.
What I have seen is, most auctioneers stumbling and running late from appointment to appointment in Saturday traffic-jams in Sydney.
Their complacency, may have worked for them as people are prepared to pay 20-30% above the odds in a hot market; however, the tide has turned. Clearance rates are dropping weekly and rapidly.
You may be about to give a fool, the reigns of what is your most valuable asset. Think twice before you do. Perhaps the following points will assist you with your decision.
Foolish things agents and auctioneers do when they are under pressure
1)     Run an auction when no one has actually registered nor has anyone requested contracts prior to day of auction. I witnessed one last week. It was disastrous for     the vendor.
2)     Advertise low price-guides to draw a crowd only to pass the property in at the low price-guide.
3)     Calling vendors bid low, believing this will stimulate the bidding. I see this occur over and over again, and auctioneers do this even when the reserve is 15%-25% higher.
The common outcome: property is passed in at vendors bid and therefore, devaluing the potential of the property.
4)     Auctioneer not properly informed, if at all, about material facts such as; easements and covenants, development potential, history and not knowing in detail about the property.
5)     Auctioneers, thinking more about the traffic conditions they will encounter travelling to the next property, than the actual sale at hand.
6)     Agents and auctioneers conducting room auctions with 3 or more properties. Again, may have worked in a hot market, however, this is suicide for the vendor in normal circumstance.
Prevention is better than cure
To understand why agents are pushing auctions, you need to have a behind the scenes peak. Most real estate training manuals simply state:
“…Auction campaigns, gives the agent a definitive sales date. One that vendors and buyers are locked into… and you’re guaranteed your commission”
The above would be perfect if it also meant two outcomes:  first, the sale achieves the best price and second, the agent was ethical about the entire campaign. 
If your agent’s recommendations of an auctioneer does not meet the above criteria and what you hear and see on the video; you may well lose tens if not hundreds of thousands of dollars.  Then again, ask yourself, is your property that unique to go to auction, and is it really the best strategy.
Happy selling. 
 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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Pay close attention to what your real estate agent promises you: Edwin Almeida

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Once again I’m baffled by the ongoing antics of our real estate industry in its practice of bait advertising.
Some of us were so hopeful that this practice would be curved: the unlawful behavior of some of the rogue-agents that work among us that is. The real estate agents (REA) that persist in misleading the general public by implementing under-quoting practices. 
Weekend auction:
A sale of a property is advertised and marketed as a “deceased state”. A client and very good friend of mine (DG) makes contact with agent/agency and enquires about the price-guide. This event took place within a week prior to the auction. 
<ul>
<li>The agent replied with words to the effect: “…the home is being sold by the public trustee, the reserve has been set at $560,000. [This will be the guide] …” </li>
</ul>
DG calls me and asks for my opinion on the subject property. 
<ul>
<li>I reply to his enquiry with words to the effect: “…if you get it for $1,400,000 it will be a steal…”. An off the cuff remark and without researching area and subject property in detail.  </li>
<li>DG, somewhat confused replies: “… but the agent should know more or less what it’s worth, shouldn’t he? … He is quoting the reserve only at $560,000 and won’t say anything beyond this…” Believing that a low reserve will pull the properties’ true vale down, as hinted by the agent.</li>
</ul>
Unfortunately, the agent/agency can and some will, hide behind what they reason to be (safe and reasonable) instructions from their clients. In this case a reserve set at $560,000. 
Understandably, and similar to the $1 Valentine’s Day Auction, it appears agents can hide behind vendor’s instructions, but this only puts a spot light on both their: industry-ignorance and sleight-of-hand tactics to be seen as delivering great results. 
How much did the property sell for, on the luckiest day for the believers of Feng Shui? It sold for just over $1,800,000. A price difference of 320% over the so called reserve. 
DG, also informed me that there where well over 100 people in attendance. Regardless of the demographic and even if the majority were developers and so called: sophisticated investors. It is time FT NSW and State Government bodies acted on these out of line property sales. 
Furthermore, it’s time the Real Estate Industry operate in a more conscionable manner. Here are my questions to the REA.
<ul>
<li>What stopped the REA from providing a more realistic price-guide, other than hiding behind a reserve price, although set by their client? </li>
</ul>
Perhaps the only thing was, their need for a moment of grandeur in delivering a so called, great result. An opportunity to beat their chests in glory. 
<ul>
<li>When were the terms “conscionable” and “professional guidance and practice” taken out of our training manuals and regulations? </li>
</ul>
Last I checked, they hadn’t but for some offices, we can say that these have been buried along with their reputation, some years ago.  
Friends, the property tide will turn soon enough and vendors won’t be as forgiving as what they appear to be with the results posted by auction campaigns. We will soon be speaking about “over-quoting” or “buying-the-listing” as “under-quoting” takes a back seat on a down-turn market. This, is when vendors will be the first to demand REA’s be punished for their wrongful actions. 
 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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Lucky for believers in Feng Shui but unlucky for industry: Edwin Almeida

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Heading into the new season, changes to funding by APRA will have an immense effect on all the developments that are due to compete for investment purchases of off-plan apartments.
Spring will be the start of the wick being lit for the eventual ‘POP’.
However APRA is not the only leveler of the market: I believe “property valuers” will begin to cover their backs as they dish-out valuations. They have already started to do so, as they become more and more aware of the glut of property now being completed. Coupled with this are rental guarantees and inflated commissions.  
Here's my top five tips for spring. 
1. Owner occupiers should sell, sell, sell.
Investors shouldn't buy off-plan properties and if they really want to get in; waiting till the end of the year means they will reap greater rewards as there will be close to 60,000 properties completed across Sydney and Brisbane alone. 
2. First home buyers should consider stable property, not new
First home buyers should approach and rent where they want to live as rentals across Sydney are lowering in price monthly and vacancy rates are also increasing monthly. Invest where money will be made; there are hubs outside of city centres with great steady capital growth possibilities and great low vacancy rates. 
3. Some BUT NOT ALL regional towns have and will continue to perform well for a few years to come
Some of the markets we have identified and have purchased property in have: steady capital growth, on average 6% yields + and vacancy rates well below 1.5%. The great appeal for some of my young family is also the great entry points with some properties below $200,000 making it manageable and not such a burden. 
4. Parramatta will be flooded with new apartments as they complete in the next 1-4 months
Properties in the Inner West of Sydney are also taking longer to rent out as renters have a greater choice. The western suburbs outside of Parramatta have had a huge build-up of granny-flats as well as new apartments. Again putting pressure on achieving yields and renting property out quickly. 
5. Stablished homes are primed for achieving great sales figures 
Many buyers are still convinced that Sydney is hedged from a property bubble pop. I see a new development proposal just about every day and it startles me that the mainstream media still report under-supply running out of land and huge population growth. Frankly, I see the opposite. 
 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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Springtime property valuers best cover their backs: Edwin Almeida's five tips for spring 2015 

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Property investors have been pampered with an assortment of developments throughout Sydney over the last three years. Developments that have seen in the most part vacancy rates as low as 1.2%. 
Adding to the investors fortune are almost no-vacancy periods. High capital growth and low vacancy is an investors dream but how long will and can the party last? 
As I drive around Sydney in general and meet with clients in coffee shops, I have been noticing the emergence of the For Lease signboard. In some apartment buildings there are two, even three signboards adorning their front landscape. A sight not witnessed for some time.
As many investors have been feasting on the high property yields, many may drop their guard with respect to the upcoming oversupply and less demand for rental property. Current reports are now emerging with vacancy rate figures on the rise.
With the rise in vacancy periods comes the upsurge of the For Lease signboard - a symbol that should bring terror to the property investor. I am of the opinion that these signboards will grow in numbers, as they pop up like mushrooms in the front yards of older buildings. Tenants will migrate from the older apartment blocks to those newly built. 
There are other reports floating around that we have 90,000 off-the-plan purchases yet to be completed over the following 12 months. Again, I’m of the opinion the numbers quoted by the mainstream are conservative figures. It will be no surprise to finally calculate 130,000 plus apartments being built in the capital cities along the east coast of Australia. 
But wait! There is a hell of a lot more in planning and proposal stages. When I say a lot, I don’t just mean tens of thousands; let us just say that the Parramatta Rd corridor will see close to 100,000, if not more. 
What will set the trend for 2016 will be how quickly the tens of thousands of apartments will be occupied as they are completed in the following there to four months and what rental-incomes or returns are achieved. But not taking into account the rental guarantees promised by agents and developers.  
What I foresee will take place in the near future:
<ul>
<li>We will witness a migration of tenants from older unit blocks, to newly completed unit blocks. </li>
<li>Rents will be reduced to those promised to investors. However, although tenants will pay much less, the agents and developers will make up the difference. Happy-days for the renters. </li>
<li>Rental expectations will be adjusted even lower in the older apartment blocks to counter-act the mass exodus of tenants vacating the older dwellings.</li>
<li>Unit blocks that are 3 years and older will begin to creep down in value in some parts of Sydney and in others it will be a sudden drop.  </li>
</ul>
Why is this all important? 
If you are an investor and you believe you may be in an area where there is a high level of construction, then it’s time you begin to lock your tenants into a long term tenancy period. Perhaps even drop the rent a little to gain long term peace of mind. 
A vacancy-plan strategy will need to be put in place with your property management team - a plan that monitors both rental demand and vacancy periods in the area. 
Furthermore, right now is not the time to be looking at increasing rents in most parts of Sydney. There are only a few areas in Sydney that are coping with rental increases. With a smorgasbord of rental property available and more to come, tenants will move to newer and cheaper accommodation. 
What's the net result?
The net result for many that moved into the property investment game in the last 18 months will be very painful. Needless to say, a large number of investors that have borrowed equity against established dwellings to grow their property-portfolio will also find the near future somewhat turbulent. 
 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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The rise of the For Lease signboard: Edwin Almeida

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In my previous article <a href="/expert-insights/the-higher-you-build-the-greater-the-fall-edwin-almeida">"Reaching For The Skies"</a> I eluded to the reasons why some of the towers being built in Sydney will fall. Not in a literal sense but more so from an economic point of view.
What will ignite the primer to set off the economic property meltdown?
I believe the major part of the answer can be found amongst all the lies international investors are being told. The lies that have attracted foreign investors to the glittery shores of Sydney, Brisbane and Melbourne. Like lambs to the developers feasting tables.
Under-supply, huge demand for rental accommodation and the fattest lie could well be that we still hold global recognition on the best standards for building and construction.Yeah right!! and pigs fly.
Return On Investment
The first lie being told and promoted to predominantly Chinese investors is; whatever we build, they will be occupied at a high yielding return. Simply, there will be a high rental return on the amount of money invested. An argument highly supported by the promoters of tales that persuaded many to believe stories of, under-supply due to substantial population growth. We build it, you buy it and we will fill them.
Nonetheless, investors bought and continue to buy. To sweeten the deal, rental guarantees were introduced. The 12 month rental guarantees given to investors in the past, are no longer sustainable due to increased property prices.
To accommodate for the now non attractive 12 month guarantees, we have seen a shift from the 12 month guarantees, to offerings of up to 3 years by some property marketing companies. An increase of time to the guarantee, to account for the rising cost of the property in order to keep feeding the investor’s greed and maintain the illusion of high performing returns.
The first proposition, may have been true in part and in the past. However, the tide has now turned due to the word being spread about high yielding returns, therefore, fueling a greater frenzy of speculative buyers.
An increase of buyers has led to greater demands to build more apartments, and now we have gone past saturation point. It’s certainly being felt in Brisbane, with more than 30,000 apartments about to be completed in the next 12 months.
Sydney, although a little slower, is by all means not too far behind. The only difference is the QLD market is mainly fueled by local investors: SMSF’s, first time mum-dad investors that attended wealth seminars and by Sydneysiders that have made small fortunes with new realized equity in their homes. Yes, not to mention the foreign investor.
Two outcomes have emerged; the first, over supply of property which is now starting to create concerns among property management teams as rental yields fall. The second, evidenced by our own property management teams and other office’s is the increase in percentage vacancy rates.
Get Rich Quick Schemes
The get rich quick schemes seemed to run at all levels. From the Marketing Agents to the developers to even the investors themselves.
The Marketing Agents, and I purposely avoid in calling these companies Real Estate Agencies, are receiving up to 10% or close to $50,000-$60,000 commissions on sales of $700,000 properties. These exuberant commissions encourages these agencies to exploit the international investor. Their own mates, family and friends.
The Investors on the other hand, have made some serious money. The ones that got in early that is. The ones that bought in markets where the values only reached $600,000 at the time and they were receiving $550/week rentals.
The newbies however, are now coming in to the same markets and with price tags of $850,000 – Hey stupid! The rents are still $550/week.
The developers, for the purpose of this article I will only concentrate on the NEW BREED (NB) of developers. The NB are also international investors that have no history in construction but have found a way to milk the system at a higher level. They have bought with them so much uncertainty and low level workmanship, it is staggering how some of their buildings pass certification requirements.
Unfortunately some of our local developers have been fanning the flames of this hot property market. Can you blame them? After all, they are running a business. Part of me does and another part of me doesn’t blame them. The part that does, is the side that questions the ethics around "marketing fees" to entice the International Investor by the Property Marketing Companies. Along with this, is the commissions paid to financial planners and the finance industry to also market some projects.
What will level this market will be no different to what we saw 10 years ago: oversupply, vacancy rates on high projections and the ongoing costs to investors to repair bad workmanship. Again I say, the only difference is; the towers are higher, deeper and bulkier. The higher they build, the greater the fall.
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-thin.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
 
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The higher the building the greater the fall: Edwin Almeida

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If you are confused by the acronym VPA, you’re not alone. The truth is, most of the REI and Real Estate Agents (REAs) don’t know how to properly account for this in their books. Most REAs are oblivious that they are flirting with deceitful conduct and are in breach of the REI Regulations by not disclosing and accounting, vendor paid advertising costs properly. 
For many the term or acronym VPA is not well known. Expanded, it makes a little more sense: Vendor Paid Advertising. But only a little more, particularly when the REA is asking for: a commission and for a marketing fee. 
For most agents, VPA is a lifeline to their existence. However, the majority of agents don’t realise the gravity of their failure to account for the advertising budget paid by the vendor. As much as it is a lifeline, it can also be the detriment to their agency.  
You could well say that VPA is an industry in itself. Many agency’s guidelines and training manuals spend a lot of their focus on, “how to get the most VPA from clients”. There are industry icons and business leaders that charge large amounts of money to train wannabe agents on how to bask in the glorious platforms of the VPA-agent kingpins. 
For me, the position I take is simply this. “What are agencies or REA’s offering that is so different to warrant for the vendor to pay on-top-off the commission?” Many are muted by this one simple question, and why? All because the answer is basically, not much. 
Not discrediting VPA altogether, I believe it HAD a purpose and served a function perhaps as early as 5-7 years ago. At a time when most buyers were only just beginning to venture into the internet to look for property. From then onward, the internet has become the lifeline of REAs marketing and source of clientele to buy property and at a highly reduced cost to obtain interest in their client’s properties.
 Why VPA was necessary - to an extent. 
<ul>
<li>Before the strong internet drive, most agencies relied on print media to draw the crowd. However, is print media still necessary in this climate?  and </li>
<li>Stand-out features, offered by the main property search-engines. </li>
</ul>
Are these features necessary to warrant for vendors to pay fees almost as much as commissions? 
I believe the answer to both is unanimously, no. In light of my discussions with colleagues, it is a general consensus that VPA is mainly used to really “promote the agent”. The exception to the rule I believe to be more in “commercial and industrial real estate”. 
The anti VPA advocates, our beliefs are threefold. 
<ul>
<li>First and foremost, if an agency receives funds from a vendor and is entrusted by the vendor for these to be used to advertise their property; it is deemed vendors funds and should be accounted for in the agency’s “trust account” not their general account. A practice not taught at the super giant VPA-seminar campaigns. </li>
<li>Second, and this goes back to my initial question; what is the agency offering for these extra funds (advertising costs) being charged to the client? </li>
<li>Third, is our own office belief that any funds provided by the vendor as an upfront marketing budget, the funds can be better spent on the presentation of the property. </li>
</ul>
A VPA agent’s reasoning for charging advertising fees:
I asked a few colleagues that have attended the VPA training seminars and they are adamant that it is necessary to charge clients a marketing budget on-top-off their commission. Most of my colleagues referring to costs of running a business to justify their reasoning. Their arguments mainly center on the following notions: 
<ul>
<li>Signboards and print media is costly. Hello! When was the last time you searched for property in a local newspaper and drove around neighborhoods till all hours of the night looking for signboards? 
</li>
</ul>
<ul>
<li>Advertising on the internet is costly. Yes it is, but every business has a cost to market itself and its products. Aren’t you receiving a commission to provide a service?
</li>
</ul>
<ul>
<li>We can’t break/split costs across all our properties and it’s difficult to manage. The regulations makes provisions to account for every expenditure to the client and in detail. Along with this is the requirement of disclosure of third party benefits received by the agency. Kickbacks, commissions and other fees paid for: printing and even online advertising, be it paid in shares or cash. 
</li>
</ul>
Showing the figures of costs to vendors:
I have been criticized in the past for questioning the collective voice of the REI that we are not being paid enough and therefore VPA is critical to run a business. Placing the legislative requirements on how to account for VPA to one side, but not dismissing these, lets look at the numbers for a second. The numbers of current cost to do business. 
Median property values approximately 3 years ago and average VPA charges.
<table cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="middle">
Type Property
</td>
<td valign="middle">
Median Sydney
</td>
<td valign="middle">
Commission 2%
</td>
<td valign="middle">
VPA Average
</td>
<td valign="middle">
Cost To Vendor
</td>
</tr>
<tr>
<td valign="middle">
HOMES 
</td>
<td valign="middle">
$633,000
</td>
<td valign="middle">
$12,660
</td>
<td valign="middle">
$3,000
</td>
<td valign="middle">
$15,660
</td>
</tr>
<tr>
<td valign="middle">
UNITS
</td>
<td valign="middle">
$460,000
</td>
<td valign="middle">
$9,200
</td>
<td valign="middle">
$1,500
</td>
<td valign="middle">
$10,700
</td>
</tr>
</tbody></table>
 
Current values 2015. Median home property values and average industry VPA charges.
<table cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="middle">
Type Property
</td>
<td valign="middle">
Median Sydney
</td>
<td valign="middle">
Commission 1.7%
</td>
<td valign="middle">
VPA Average
</td>
<td valign="middle">
Cost To Vendor
</td>
</tr>
<tr>
<td valign="middle">
HOMES 
</td>
<td valign="middle">
$850,000
</td>
<td valign="middle">
$14,450
</td>
<td valign="middle">
$5,000
</td>
<td valign="middle">
$19,450
</td>
</tr>
<tr>
<td valign="middle">
UNITS
</td>
<td valign="middle">
$630,000
</td>
<td valign="middle">
$10,710
</td>
<td valign="middle">
$3,000
</td>
<td valign="middle">
$13,710 
</td>
</tr>
</tbody></table>
My tips for people considering engaging an agent to sell a property.
When confronted with a ledger of costs before you even engage the REA to sell your home, simply ask the following questions:
<ul>
<li>Where will the money go to? General account or the Sales Trust account?</li>
<li>What are the individual costs for each proposed marketing idea/service that you recommend to be adopted?</li>
<li>How much commission does the office receive from third party service providers? And will these come off my bottom line?</li>
</ul>
Most reputable agencies that do work with VPA, will issue clear statements and provide value added services. Some of the services I consider value-added are:
<ul>
<li>Staging services</li>
<li>Professional photographers</li>
<li>Professional videos</li>
<li>Cosmetic make-overs of property in preparation for the marketing</li>
</ul>
The most commonly used rebuttal used by the VPA-agent is: if you want better exposure than your neighboring competitive listing, then we need to make your listing stand out. If the agent/agency is more focused on a signboard and local print advertising to stand out just remember this; signboards mainly advertise the agent not your property. 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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VPA is not a dirty word: Edwin Almeida

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Joel Robinson

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Edwin Almeida

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