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Looking into the mainstream-media property reports with respect to rental and vacancy rates; one questions how the data is obtained.
I have from time to time, questioned my brew of coffee but I can do so as I am personally tasting it.
The data about property being provided on the other hand is not as personal to the analysts nor the economists offering their property-charts to the general public.
Most, if not all their data comes from the main "property portals" and are highly reliant on real estate agent's, property manager's (PM) accuracy and detail of what is truly available.
"Trust me I'm a real estate agent, comes to mind..." However, in the case of listing rental-properties, it is prudent not to list all the units in the block: time, resources and the perception to the market are factors to be considered.
The proof is in the pudding
They say the proof is in the pudding. Well, the same may be said for the data and the reports.
The fact is, the data obtained by analysts comes from two main sources, three at best. These sources are; RPData, Domain website and the REA website. Now, how accurate is this data? No where near the truth...
So why is this data flawed? 
Put simply, the data is flawed due to a basic anomaly; real estate agents “property managers” DO NOT place/advertise entire blocks of units on the property portals. At best case, the PM will advertise a mix of units: a one bedroom, a two bedroom and a three bedroom apartment.perhaps even one or two more; if they have a different floor plan.
I have had a recent look at the property portals and across three buildings I know off in Parramatta alone, there are 12 adds which advertise the units available in these blocks. However, across these three high rise blocks, there are approximately 700 apartments.
As a conservative guesstimate, coupled with the conversations I have had with the marketing companies that sold these units; it can be estimated that 80% have been sold to investors.
For now, also consider; how many apartment blocks are being completed and are nearing completion across Sydney? Hmmm a lot, you say? Now add a few more to what you believe. 
You guessed it; a lot available and soon to be available for rent...
You be the judge
For the very reasons I have written about in the past and now; I do not recommend for Investors to buy into the overheated property market of Sydney.
Of late, I have ventured out of Sydney to secure property for our clients. Property with steady rental returns and long term tenancies. More to the point, we have steered away from newly built property with unsustainable rental returns.
The real question
Is there really a shortage of rental property in Sydney? I say NO.
Most definitely not. Now you may dispute this and show me report after report. Again and again I will walk you though what is truly happening on the ground. Take you to, building after building that PM's only list 3-4 properties on the property portals and where there are over 120 units available in the recently built block.
Show me the real data...
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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Show me the data: Edwin Almeida

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Mike Tyson is quoted as saying, "everyone has a game-plan until you get punched in the face”.
So, how do we take this true to life and memorable analogy and personalize it to our business? I spilled my coffee due to convulsive laughter, when I first heard this.
Like many sides of our personal makeup we, as human beings, personalize or internalize and emotionally invest in what we create and believe in.
In this particular post, I will look at how we can recession proof “protect” our brand as we move into 2016 - a year with many unknowns when it comes to the survival of real estate agents and their offices, independent or mainstream.
I'm talking about building a defensive wall that won’t allow adversaries an inch of space but don’t forget, your inner voice can also work against you.
 Yes, you too can punch yourself in the nose and sabotage your business.
I’m no expert, to say the least; so I called on the experience and expertise of my good friend and brand mentor, Anthony Carroll, from Yellowsneakers to help explore the idea of recession proofing my brand.
Anthony best explains the relevance and relationship between recession proofing our business and branding with a simple question:
<ul>
<li>How relevant is your brand when it comes to your purpose and your customers needs? All the elements of your brand should radiate out from your “purpose”.</li>
</ul>
Unravelling purpose is not just about having an idea, it is about solving a problem and engaging an audience.
A purpose is a solution to a problem that your target audience can't solve on their own. Your solution should therefore fit the problem but also be delivered in a way that is unique and different to what your competitors offer.
Staying true to your purpose is KEY to surviving and recession proofing your business.
The basic principles, on how we build a strong defensive wall, is sometimes forgotten. Most brands with no essence or belief, in other words purpose, will fail. Fail to be noticed and fail to engage the audience it needs to survive.
 A strong brand on the other hand, can weather many storms:
<ul>
<li>Product failure</li>
<li>PR fallouts</li>
<li>Corporate scandal</li>
<li>Dips in market share</li>
</ul>
Therefore, the strength of your brand can be gaged by your commitment to its purpose. The purpose that underlines your daily and constant decision making and reason to stay motivated and focused.
A good example of a brand weathering a PR fallout is the LiveStrong brand started by Lance Armstrong.
Because of its strong underlying purpose: Lifestyle choices, healthier eating and so on, the brand continues flourish despite the Tour-de-France doping scandal that Lance Armstrong was at the centre of.
Lance had to step down from the organization he founded and distance himself completely. However, as a result the brand remains relevant in the eyes of its audience.
People will forgive human frailty and it’s been shown that the more human or personable the brand is, the more supportive people become of the brand.
More recently, we can look at the VW emissions scandal. Sales for VW and Audi have actually increased. While it might be too early for sales to be affect, yet it will be interesting to see how VW survives this scandal.
So what happens when we have a kick-ass brand? More people engage with the brand as soon as they understand its core purpose.
Reflecting on the industry I’m presently engaged in and as I re-read this post, I find myself asking the following questions:
<ol>
<li>Will the main real estate brands remain true to the nature, the purpose of their founders? or Will they continue to lose the respect of both employees and clients?</li>
<li>Will the New Year 2016, usher in new real estate brands created by disillusioned employees of some of the more established brands?</li>
</ol>
No matter what industry you are in and particularly if you are about to launch with a new brand; I do hope these thoughts have been of help.
I leave you with this thought: never underestimate small beginnings, remain true to your purpose and your brand will make the impact you aimed for.
 
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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Recession proof your real estate business: Edwin Almeida

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Unlawful and unethical marketing strategies, which are at the heart of a large percentage of auction campaigns, will be the demise for many vendors.
A failure for vendors and a bigger failure for the real estate industry. 
No price guide. Is it the new under-quoting?
Ignorance or blatant disregard?
To begin, when agents seemingly don't understand nor can confidently form an opinion about property prices, they should seriously get out of the industry and go back to selling cars.
Pushing vendors for an auction campaign and all because agents fail to understand the dynamics of real estate and appraising property is not the method to achieve the best outcomes. Confusion and misdirection does not lead to clarity.
In my many dealings with local agents, I have found that many agents not onl do not understand how to appraise property, they also don’t understand property marketing 101. Both are essential in the process to achieve the best result for vendors.
For many, the quickest and easiest method is to “take the property to auction.” Real estate agents see this as the fail-safe method. The good old, “I can’t be blamed for the low price – its market forces…” excuse.
In my opinion, achieving the best outcomes for the vendor is not about; speed of sale nor how easy it would be for the agent to manage the sale.
The above therefore translates to being a major issue for vendors. My reasoning will be summed up in this article, and under the following four points. 
Why so many agents push for auction campaigns
1)     When many agents push for “auction campaigns.” What do they really want to achieve?
a.     Tie-up the vendor and have them commit to accept a price on the day. All due to the vendor’s large expenditure in their auction marketing campaign.
b.     They don’t want to work for the vendor for long and rightfully earn the commission.
c.     There is a belief that when a property is auctioned off; the market dictates the best price on the day. This, in turn, forces the vendor to accept anything on the day. Even if it is below what buyers were willing to pay. See tweets by @REshortsell
2)     Agents have in the past, purposely and will continue to under-quote the property to draw a crowd. To the vendor this appears as;
a.     A good turnout. Therefore, whatever the final bid is, determines the so called value of the property on the day.
3)     Agents have purposely under-quoted to draw a crowd, and to the buyer this appears as;
a.     A need to bid and bid emotionally, due to an overwhelming fear of missing out on the property. Thus creating, the control needed for the agent to show the vendor the bidder’s participation; to give the illusion of success.
4)     Agents want a quick turnaround and a quick commission fix.
a. Auction campaigns run for four weeks and the agents are guaranteed a commission at the end with great certainty. This is all due to the pressure placed on the vendor, as noted above. Pressure also added by the large marketing fees paid to run the auction campaign.
Now to the nut-and-bolts: Why this article? Why today?
I attended an recent auction in Parramatta. This auction was one promoted by a local, prominent and brand-name agency. What I was witness to will make Fair Trading NSW take special notice.
I will detail the conversations and the agent’s arrogance below. One may also note, his ignorance or even deliberate arrogance in regards to the auction process.
Conversation with the listing agent: words to the effect;
Me: Do you mind telling me the price-guide?
Agent: I can’t disclose the price-guide because the vendor won’t allow me to.
Me: If you can’t disclose the guide, then what is your opinion of value of the property?
Agent: I can’t say as there are no comparable sales in the area. [Keep in mind; this is advertised as two bedroom penthouse unit in Parramatta with a large balcony]
Me: Really, no comparable sales?  Couldn’t you base it on square meters, location and perhaps aesthetic value?
Agent: No! There are no comparable sales and I don’t know what it would sell for. [I heard something similar with respect to well documented auctions at Millers Point…]
Me: In the agency agreement; you must have given the vendor a price-guide, right?
Agent: Yes, we have to [by law].
Me: So, you must, as an agent, be able to form an opinion of the value of the property; I’m not going to hold you to it.
Agent: I don’t have to disclose what I gave to the vendor to you. And besides, there are no comparable sales. If you wanted a price-guide, you should have called me before the auction.
Me: I did call you twice; you told me the new legislation doesn’t allow real estate agents to give price-guides. Why is that?
Agent: It’s against the law and Fair Trading NSW guide lines tells us not to give guides.
Me: Is that so… But you gave the vendor a guide right? Can you show me the agency agreement, or tell me what you wrote on it?
Agent: No, I don’t have to show it to you.
The agent turns away and focuses on other potential, interested and registered bidders.
Buyer: Will the building next to this one, block out the view, when it is completed?
Agent: No it is against the law to block out the views, that’s why they are building it in two sections.
I smiled and shook my head as I walked away in total disbelief of the conversation I just had and the one I overheard. A conversation not dissimilar to the one’s where agents “spruikers” tell investors that they have insurance cover for 7 years, in high-rise apartment blocks. And pigs fly…
The outcome:
There was a crowd of approximately 26 people. The opening bid was $850,000. Subsequently, the property was passed in at $860,000 with only one bidder; whom strangely bid against himself.  
Overhearing the agent’s discussions with both the vendor’s representative and bidder at the time; we found out:
1)     The reserve had been set at $950,000 by the vendor and on the day.
2)     The agent's sale expectations was closer to the $1,000,000 + due to other sales.
3)     The agent also miraculously, appeared to know (had a revelation one might say) what other similar units in the area were being sold for.
Surprise, surprise. It appears the agent did give the vendor an estimated value of the property. One that was a lot higher than what it was passed in at.
For now we are noticing more and more; agents like this one, hide behind their misinterpretation of the FT NSW guide lines and what the guide lines were purposed for.
Furthermore, when more and more buyers are educated to counter the foolish, unethical and illegal tactics used by agents in their auction campaigns; buyers gain the advantage. Agents in turn, place their vendors at a high risk of losing $10’s if not $100’s of thousands of dollars.
Foolishly, both the agent and auctioneer, further allowed the property to be passed in at a low price. A price lower than the reserve. No vendor-bid was given, to help in maintaining a better chance of achieving the desired result, when the sale reverts to a private-treaty sale.
Why did they get a low offer in the first instance? This was all because the agent wanted to draw a crowd. No price-guide is the new under-quoting.
Well, in this auction, the “dumb and dumber” tactics backfired and more will continue to fail like this auction campaign.  Perhaps it’s time vendors made agents more accountable, particularly when they are charged high marketing fees.
Nonetheless, the losers in all this and like many other auctions, are the vendors. The vendor placed his trust in a professional that would guide them on the best method of sale.
The agent failed to both: to provide the best service to the client and present an ethical marketing campaign to engage the consumers (the buyers). Buyers want transparency, not the smoke and mirrors approach adopted by foolish agents.
Not quoting a price guide and going to auction with so many other comparable properties on the market, was a recipe for failure.
The campaign failed: it did however, draw a very large crowd but a crowd that was not willing to play the agent’s game. They could see right through the unethical conduct of the agent.
In this case, I am familiar with the vendors. I know for a fact they would not be bullied by the agent into accepting a lower than anticipated [quoted] price.
Reasons for marketing property by an auction campaign
The main principles for taking property for auction resound so clearly, as I write this article and sip down to the end of my coffee.
1)     Uniqueness (truly no comparable sales).
2)     Motivation:
a.     Forced sale by court order.
b.     Quick and urgent sale for personal reasons.
c.     Time constraint.
3)     Development potential: building or land.
4)     An unfinished project even.
Now there are many more, however, the above is a good beginner’s guide. For the same reasons above, there are also alternate methods of sale and ones that can achieve a better outcome. This is a better outcome in relation to both the price and the way the sales process is handled.
George Rousos: Real estate trainer, course developer and compliance coach at Industry Training Consultants, shares an alternate approach to a public auctions. 
My tip for real estate agents
If in total doubt and a value can’t be determined to be within the guide lines set out by FT NSW; call a licensed valuer. A licensed valuer can assist agents that have issues with forming a realistic price-guide.
Transparency is what buyers are looking for. If some agents believe they can fool buyers; think again. Buyers more than ever, are equipped with tools to help determine price values. In some areas, buyers are also contracting the services of “buyers advocates” to assist them.
However, it must be said that some agents just don’t believe they need, nor want professional help. Some simply feel they are above the law and protected by their real estate office-brand. Some simply run on an overdose of “auction and how to crunch the vendor” seminars.
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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No price guide is the new underquoting: Edwin Almeida

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Real estate offices and real estate agents will diminish by 20 percent-30 percent in the next year.
With property (for-sale) listings, so low and a phenomenon never experienced before in parts of Sydney; how can real estate agencies survive? 
For a large number of Real Estate Offices (REOs), sale of property commissions, makes up to 60 percent-80 percent of their revenue. Some rely purely on sales commission, to keep their doors open for business.
After recently, reading numerous articles and LinkedIn discussions about low property numbers that are on the market for sale I began to reflect on discussions I held as far back as 12-15 months ago with industry colleagues.
At the time I made the following prediction, and that it would eventuate by end of financial year 2016. 
<ul>
<li>We will see at least 20 percent of REOs close down.</li>
<li>These will be made up of REOs that rely on pure sales to keep their doors open.</li>
</ul>
One brand I have been particularly observant of is McGrath Real Estate. This brand even listed on the ASX and mostly due to its success accredited to: reported high sales figures. How will they cope in a changing landscape where sales become scarce?
The crux of the discussions with colleagues, were in relation to the shrinking property market, due to various market forces:
1)     Property-Marketing companies on the one hand ramping up sales of property; and
2)     The financial institutions on the other, also selling real estate.
Both sectors moving into the real estate sales due to high commissions, paid out directly by developers. I can say, even in the good times, the average real estate selling agent missed out on listings. Most listing of new developed property went, has gone to and is still going to property-marketers. The local Real Estate Agents miss out.
Property that is new to the market, where commissions can be inflated, became attractive for “direct sales campaigns” to unsuspected investors. In essence, the typical local real estate office has lost 30-40% of sales due to “marketeers and the financial sector invasion.”
Now, add to the invasion of our industry, the current low numbers in secondary stock sales as evidenced in article/photo below. Also as reported across the media and journals.
I refer to historical low number of sales listings in Sydney. 
These are established properties that have almost disappeared overnight. Parramatta alone has had an attrition of up to 47 percent less property on market. These figures were calculated across June-to-August. The number of agents has not changed however.
Parramatta, has 176 registered real estate offices according to the Yellow Pages. According to Domain, there are 172. Either way, it is a concern that should not be taken lightly. Specially when we can safely say that there are 2.5 selling real estate agents in each office.
A concerning trend also witnessed across the face of Sydney metropolitan area.
Some agents are commenting on a 30 percent drop in numbers across the Lower North Shore and other areas. These numbers are generated by comments on LinkedIn, made by agents that have worked in these areas for 10-20 years.  
Only last week, I sat with a colleague from Blackktown and she informed me and was troubled by the fact that her office only had two properties for sale. She doesn’t have a small operation, and runs a well-established brand.
In the same area, other brand-name agencies have reduced their local paper advertising from 3 pages down to half a page. They just don’t have any property listings for-sale in their books. What they do have is 5 selling agents in their office.
Notably, the above becomes the recipe or the ideal conditions for an attrition of selling agents and very tangibly, offices that only rely on sales to survive.
It will be a hard fall for many, and for others that place a lot of trust in property-sales-offices. Another call, another prediction; all in a day as I share my thoughts over a coffee with friends.  
Warning to the industry
Keep an eye on other Industry-Disruptors such as Purplebricks RE. Don’t underestimate what they are doing and focus on how you can best serve the diminishing clientele base you have. That is, if you want to survive the for-sale listing famine.
If you want to stand out from the many agencies in your patch; do something different. Offer a level of service that others will find hard to match. Again, only if you want to stay in the industry past EFY 2016 and not be a casualty of the changing face of real estate.
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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Real Estate offices closing down in Sydney

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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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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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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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Sydney may have forgotten Natalie Jean Wood. But Real Estate Agents haven’t forgotten to underquote; when it comes to auctioning a property.
I definitely have something to say about what I perceived may well be, blatant underquoting strategies used in the marketing of the Surry Hills property: 139 Kippax Street, <a href="/expert-insights/buying/surry-hills-terrace-listing-of-the-woman-sydney-forgot">the home once owned by Natalie Wood</a>.
It will take more than a coffee to calm me down, particularly after my client spent $4,000 doing Due Diligence (DD) prior to the auction.
The price guide that was given to me and other interested parties I spoke with at the time, was: $550,000-$650,000.
First cab off the rank, and to immediately dispel any misconceptions you may have. Misconceptions about me being a disgruntled buyer’s agent and particularly since I didn’t purchase the property, on behalf of my client.
<ol start="1">
<li>Part of the DD we undertook revealed that land in the area was worth approximately $10,000-$11,000/sqm.</li>
<li>There was some value in the building regardless of what the refurbishment works would cost, and</li>
<li>We were under no illusion that we would obtain the home for the lower end of the price guide which was given.</li>
</ol>
It’s not rocket science
It’s not rocket science to work out property (price-guide) values that are closer to true market values. To ascertain these we look at the following:
<ol start="1">
<li>Land value as compared to other sales in the local area.</li>
<li>Value of existing structure/building (taking into account what is required or not required to be altered, changed or fixed) and integrity of existing structure.</li>
<li>Aesthetic values including but not limited to: visual appeal, location, heritage, charm or story behind the property, views and surrounding landscape and demographics.</li>
<li>Calculate costs to repair/refurbish/build and compare with current properties on the market and recent property sales. properties that would be of similar ilk.</li>
<li>If still in doubt? call a professional valuer for their opinion.</li>
</ol>
Therefore, for an agent or agency to hide behind the worn and dated argument of “no comparable sales” is just sheer ignorance or intentional use of sleight of hand tactics. I have written about these issues previously.
1) The what-if test. 
2) Dumb to underquote and dumber not to know property values.
Dialogue with agency
Correspondence and conversations with the agent, all led us to believe that the agent truly didn’t know the value of the property. On the alternative, we also thought that there may be an underlying driver to draw a crowd. We know the latter to be under-quoting.
If other buyers were going to be persuaded by either one of the above premises, we believed that this would work in our favor.
The low-ball price-guide may actually keep the value of the property low, this is what we presumed anyway. We felt that the low price-guide coupled with the added features of the home; the circumstance of the deceased owner and the dilapidated condition of the property, was a mix that would work in our favor.
Nonetheless, our limit was set at $900,000 and this took into account our estimated land value as well as the intrinsic and heritage value of the property. Yes, and the history that came with the home.
Again, we knew that the agent was off the mark completely. However, the agent insisted that the “buyer’s feedback” was $550,000-$650,000 and with the interest obtained, it may reach the $700,000 mark. I beg to differ.
A professional agent would have done and assessed the value more along the lines of $850,000-$900,000 and thus presenting a correct price-guide. A guide that is not reliant on; “buyer’s feedback” nor left to ignorance. But, I was not engaged to teach them how to do their job.
Don't you just hate it, when you call an agent and ask for the 'price-guide' and they respond with: don't know at this point in time, once we hold a few opens we will gauge the "buyer's feedback". Get real !!! and moving on...
The outcome
Well, my buyer was not successful; as much as I tried to slow things down, there were others that wanted the property at all costs. The home sold for $1,105,000.
One may well say, ‘market forces’ were at play once the auction reached and went beyond the $950,000 mark. 
Warning to agents
Now, if you really want to accept the argument that: any so called out-of-line sale price is influenced by the lack of comparable sales to go by and play the ignorance card, or even take ill advice from vendors? Perhaps it’s time a Professional Valuer was called in, to assist you.
Obtaining and contracting the services of a valuer, is a better option to support and protect you as you. After all, you are the professional real estate agent. Don't hang your hat on statements such as: "market forces" nor "the vendor made me do it" in the belief that these will protect you from prosecution.
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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Sydney may have forgotten Natalie Jean Wood, but real estate agents haven’t forgotten to underquote: Edwin Almeida 

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Now, if you are not a believer in being prepared and you don't feel that the property market will drop; put that coffee mug away. Click back to your Facebook page. Danger, read this at your own peril.
For the rest of us, it's time to pour ourselves a fresh cup of coffee, and look at the property market trends. Trends that we have been discussing for over 12 months now, and have been preparing our readers for: i.e. the changes in market forces.
Here we are, moving into 2016 and again, economists with invested interest in the property market continue to spruik the “steady property growth” in Sydney and the “she’ll be right” lines.
Our readers, followers and clients, on the other hand have been preparing for the reality of what is about to “slap” many economists in the proverbial face and a lot of investors, rip holes in their back pockets.
Sydney Property Snapshot: Auction Result Saturday 30 January 2016
There are a number of key take-aways from the transaction report or “on the market history” shown above (Source CoreLogic RPData). I will concentrate on three of these as follows.
<ul>
<li>Vendor's &amp; Agent's Expectations:</li>
</ul>
We may on the one hand say, vendor’s expectations were being fueled by the main-stream-media’s property reports, coupled with the crazy prices being paid by our friendly Chinese investors and home grown investors wanting to jump on the "Gravy Train".
Expectations also adding to real estate agent's promises of achieving high prices.
Prices again being fueled by buyer's fear of missing out, coupled with the notion of huge under-supply as well as beliefs of  “not enough land”. Then there are the ongoing beliefs of: high migration intake and that "interest rates won’t go up anytime soon: therefore, commit now". My favorite "HUGE rental squeeze".
The above mentioned beliefs as you well guessed, primed the market and created a foundation for this property bubble. A foundation that supported the comparable sales in the area, in most instances; prices that reflected the initial “Above $730K” prices being advertised i.e. the prices being paid at the height of the market.
<ul>
<li>Agent’s Marketing &amp; Sales Strategy:</li>
</ul>
The main strategy I want to review, is the one carried out by the second agency. In simple language: “what the hell were they thinking in taking the property to auction” and for a second time?
I can only say; yes, I’m sure the vendor is now conditioned and perhaps even bullied into being a “motivated vendor”.
<ul>
<li>Drops and Market Conditions:</li>
</ul>
However, we can see on the surface by the evidence presented in the recent auction reports, vendors are moving into very precarious territory when taking property to auction on an agent’s ‘whim’. And, you have to be careful who you appoint as the real estate agent and the auctioneer, if that is the method you are told is the best way to sell your home.
Again, the table above shows two key points: the first, the drop in asking to highest bid value and the second, the number of days on the market.
The passed-in bid, is reported to be $650,000 by the second agent. A significant drop and contrary to the first agent's initial asking price which was for: offers above $730,000. WOW ...
We can see a significant drop of willingness for people to commit now. A difference of almost -12% from the height of the market in 2015, to now. But, there is more room for a further drop.
I point out; we are only a month into 2016.There will be more carnage to come. Carnage that will take out many vendors that are not vigilant.
For Now: Is it a matter of...
<ol start="1">
<li>Signs of the times?</li>
<li>Real Estate Agent's flawed marketing strategy?</li>
<li>Auctioneer's ignorance? OR</li>
<li>All of the above?</li>
</ol>
More than ever before, I urge you as vendors and agents; do your homework. Ask yourselves as agents, the fundamental question which is pertinent to obtaining the best price for your client: is an auction campaign still the best way forward, for your vendor?
Vendors, again more than ever, be proactive and ask the agent about the number of registered bidders leading up to the auction day. If none are registered then ask whether you should still be going to auction. Meet the auctioneer and ensure they go through the property, days before the actual auction date that is.
Most of all vendors, do not be afraid to question the agent's reasoning for the marketing strategy they want you to embark on. It may well cost you 10's to 100's of thousands of dollars, if you don't.
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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Predictions to rip a hole in your back pocket: 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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