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GUEST OBSERVATION
The battle, mainly evident on social media and on online industry publications, continues between the two juggernauts of property listing portals.
Domain and REA are each <a href="https://www.rebonline.com.au/breaking-news/8048-rea-threatens-agents-future-domain-ceo" target="_blank">staging online attacks on one other</a>. But should they pay more attention to their own business, rather than spending time attacking each other?
I believe if both of the two portal providers are not careful, both will lose substantial market share in this space.
The emergence of internationally recognised websites, such as Gumtree and EBay, has allowed for growth for direct listings of properties by landlords and vendors. These portals also allow agents and agencies to list properties for free.
I myself use Gumtree and we have had great results in the last 24 months. Results measured across both in our sales and property management listings. One case in particular where a buyer saw the advertised property online on Gumtree in England and emailed us directly. He also paid the asking price for the property, may I add.
The buyer paid $60,000 more than another sale in the same complex, just a few weeks earlier by another agent. A great outcome for the vendor.
Then there is the quiet achiever, a local property portal, <a href="https://www.homehound.com.au/" target="_blank">Homehound</a>. A free property listing portal that has been growing and has been around for 10 years. They now boast of having over 2,000 agencies on board. Agencies that are taking advantage of free online presence. Notably, Homehound also provide premium paid listing space, should any agency wish to take up their offer.
If REA and Domain continue to spend more time and money on slandering one another, rather than to focus on better outcomes and services for agents, this may just well become their Achilles heel.
Lets face it, both have increased their listing fees, both take on private listings. One takes on private listings directly from vendors (Domain), the other from online third tier sites that assist vendors to sell privately (REA). Remind me, why is the “pot calling the kettle black” once again?
Real estate agents seem to have jumped all over the recent commentary by Domain’s CEO as though he was on our side.
Real estate agents seem to also believe in the most part that Domain’s CEO argument and premise that REA’s actions will diminish the real estate roles by agents and thus causing more havoc in our industry. The havoc is interpreted as concerns within the industry by agents allowing REA to move back to what was their initial campaign. A campaign which was launched in the 90s calling for and allowing vendors to privately list their properties.
Have we forgotten REA’s original add campaigns in the late 90s, “home sellers wanted.. sell your home online… agents need not apply”? Then again I am reminded once again Domain take on private listings. 
I remind our industry and colleagues that it’s not a matter of fearing what these juggernauts do or don’t do for us that will be the main reason to turn the consumer away from using our services.
It is more about what we will personally do for our future vendors and landlords as individuals, as a real estate office, group and industry to keep the customs we have enjoyed for so long that will determine our personal and business futures.  
In my opinion, allow REA to slip back into the private listing market. If it wasn’t for the simple fact that both Domain and REA know how VPA fills agencies pockets as an income source, we would not be paying as much for access to these property portals.
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
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Property portals need to spend less time attacking each other and focus on better outcomes for agents

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GUEST OBSERVATION
Was it a case of one strike, two strikes and three strikes you’re out? Or was it a well planned and orchestrated auction campaign?
The agent and auctioneer would lead us to believe it was all planned. Perhaps not the weather, but some agents do believe this is in their control nonetheless.
The opportunity to own a prestigious 900 square metre plus block of land and one that sits on the right side of the road, went to market this weekend. It was the side of the road zoned to the Parramatta council, which has a reputation for being friendly towards development applications. First time on offer and a home built by a master builder himself, was the auctioneer’s pitch.
However, it did come with a surprise.
In this case, the surprise was disclosed to all attendees prior to auction. The gentlemen that once owned the property, peacefully passed away in the home.
From talking to the neighbours and other locals, he was a well know gentleman.
The facts
It is Father’s Day. It is Sunday. The owner had passed away in the home and this deterred many emotional and superstitious buyers.
To top it off, the day was overcast, but in all this, the crowd was filled with known developers and new ones wanting to make their mark.
The auctioneer
The auctioneer Peter Baldwin believed that the campaign was well organised and for the following reasons it made sense to offer the property on Father’s Day. It was a four week campaign and with the demand for this type of property, it made sense to have the auction on this day, he said. It gave time for people to do everything else on the Saturday and attend the auction on the Sunday with less hassles.
At the commencement of the sale, Baldwin even referred that this could well be the best Father’s Day gift for the lucky buyer. Baldwin, when asked what the expectations would be, he noted $900,000 - $1,000,000 as the price guide, and that he would be extremely happy above the $1,000,000 mark. He was also well aware the target market was developers.
The Agent
Conor Arnold from the Professionals, concurred with the auctioneers to the reasons behind the sale taking place on the Sunday. He further added, the property was in a prime location and they were looking for the developers that would not be influenced by the deceased passing away in the home, nor deterred by any other circumstance, such as a Sunday auction.
Conor was very clear and did inform all attendees that viewed the home during the campaign, of the conditions surrounding the sale. Could this have been the main reason why there were few Asian parties registered to bid? This was a question put to Conor. In response, Conor went on to emphasise the development interest of the block and the target audience.
Background and Observations
 
<ol>
<li>
I was made aware of this auction and the conditions by a developer that I knew and would be attending. He believed the home price will fall just above and not within the price guide given to him by the agent. At the million and even $1.1 million price, it was an attractive development proposition for him. The developer commented on the possibility of the home going at a reasonable price due to the surrounding circumstances that would keep Asian buyers away. It would be developers fighting it out toe to toe without the overzealous mix of buyers adding fuel to the competition. 
</li>
<li>The agent in this case went the extra mile in the presentation and the preparation of the home. Was he trying to entice the emotional buyer even still, although the real targets were the developers? I believe he was, and I can say, good on him for presenting the property in the manner it was presented in. Great job. </li>
<li>It is my personal opinion that the property was never worth under the million, regardless of the circumstance surrounding the sale. From when I was made aware of the sale I told my developer friend; forget what you have heard and have been told, the property will sell for between $1,150,000 - $1,200,000.</li>
</ol>
 
We spoke to an architect, who believed that two detached, four bedroom homes with double lock up garages could be built on the block. Each alone would sell for $1,200,000 respectfully.
Who bought the home?
It was interesting to note that the successful bidder was the next door neighbour. An Asian family that have made offers on other homes adjoining to this home and theirs.
What will they do with this home? They did not disclose what their intention was, but one of the neighbours told our crew an offer was made on his property two doors up for $1,300,000-$1,400,000 but he has since refused the offer. He said however, that he will sell at the two million dollar mark. Wishful thinking? If you base it on landbanking options for future development maybe not.
It is interesting to note that developers come in all shapes and forms and not all Asian families are deterred, nor superstitious, about what happened in a home. Perhaps at the right price, we all forget superstition and religion. It is interesting to also note that the neighbour from two doors up had been made an offer by the purchaser and this is at $200,000 more than what they just paid for the current property. 
{qtube vid:=vXEX-mzV6A8}
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
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A deceased estate with development potential: How did its Father's Day auction turn out?

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GUEST OBSERVATION
Who really sets the end value of the home? 
This may well be determined soon enough, putting an end to many discussions held over the years regarding the contested topic. Most say the value is set by “what people want to pay for a home and what a vendor wants to accept”. Others believe the end decision is made by the the valuer. But let us not forget the final player: the bank.
No doubt the sale of the two <a href="/expert-insights/buying/the-second-millers-point-offering-fetches-2-56-million-for-state-government-housing">government-owned Millers Point properties </a>at such vast price points has placed a magnifying glass over the valuation process itself. The <a href="https://propertyobserver.com.au/finding/location/nsw/35454-millers-point-government-terrace-sell-off-with-record-2-6-million-plus-price-guidance" target="_blank">recent sales</a> will test everyone’s theories, perceptions and ideals as to who has the final call on the value of the home.
The agents
The agents are, we may say, the first line of clarification when ascertaining what a property is worth. A well versed agent in his or her field of expertise in their patch will promote their worth, first and foremost, by knowing their product.
In the first instance, when looking into the sales at Millers Point, the market opinion and price guide provided was $1,000,000. However, this was later adjusted to $1,300,000. This is a bench mark set by a professional that has years of knowledge and expertise in an area and a specific market. This is also knowledge that valuers often rely on to make their final call. After all, the agents live, breathe, and are in and out of homes in their patch on a day to day basis. Hence, they are a valuable resource to have when searching for a price guide and a professional realistic market opinion.
The valuer
The valuers, on the other hand are utilising a number of resources, which range from agent market opinions to online data of recent sales and no doubt the science of  ascertaining building costs-depreciation and land values. It is a very complex and under rewarded process in my opinion, when providing a valuation for a bank post the sale.
The bank
The bank will rely on the final opinion of the valuer and I have a hunch they will also have their internal policies centred round lending criteria to meet with the borrower’s financial position.  I would also speculate at this point that most banks will assess the loan process and the Loan to Value Ratio differently. Therefore, they are indirectly providing particular instructions to the valuer.
Now riddle me this, Bat-bank: which parcel of information will you rely on when the purchaser approaches you for the funding? Here is the conundrum as we further explore this enigma:
<ol>
<li>Agent’s public opinion “price guide” of what the property is worth; $1,000,000 - $1,300,000 first sale and $1,400,000 - $1,500,000 price guide on second sale.</li>
<li>Final sales figure; $1,911,000 for the first and $2,560,000 for the second sale.</li>
<li>
Then there is the undisclosed figure if a true valuation was to be conducted by a valuer, without any outside influences by banks or agencies.    
</li>
</ol>
If we venture back to the beginning and purely relied on the premise that a home is worth “what someone is prepared to pay and what the vendor is prepared to accept”, there would be no issue whatsoever. However, the valuer is caught between a rock and a hard place as they have to justify their findings to the bank. A major criteria expected by the lender to approve a loan by way of accepting a valuation concerns comparable sales of like property in the area. 
Therefore, do they rely on the price achieved in the first property sale, or do they rely on the value of the second? A conundrum to many if this was the only way to ascertain the value of a property. But this is a questionable proposition, as on the surface, it appears to be the major methodology a bank uses to dish out credit. So, Bat-bank, what figure will you accept?
If the bank accepts the latter sales figure, this would mean the first property was sold for peanuts and the person that bought the first home won the lottery.  If the sale price of the first home is the benchmark, one can only assume that the valuation of the second home will come in very short.
Then of course there is the other ideal in Gotham-Sydney. The banks will fund all the purchases to create a history and a sample of at least 4-5 sales to justify their reasoning and paperwork to their shareholders. Always be mindful that in most instances but not all, the first few sales in a cluster when sold as individual lots, are the cheapest sales.
Therefore, based on the current precedence, the next homes to go under the hammer may just tip the $3,000,000 mark. I continue to believe $2,700,000 - $3,000,000 was on the money. As the properties continue to rise in value, this can only continue to create further embarrassment to the price guides given by the agencies that sold the first and second home. Now riddle me this, Bat-bank: <a href="/news/nsw/next-millers-point-government-terrace-sell-off-with-record-2-6-million-plus-price-guidance">how will you value the homes</a>?
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Riddle me this, Bat-bank: who determines value?

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GUEST OBSERVATION
Like the common cold and flu that creep up when you least prepare, so do bad property investment seminars and advice.
A sickness fuelled by greed and the notion of a “get rich quick” investment solution. Do we blame the ones spreading the plague or the ignorance of the people voluntarily subjecting themselves to what is to become a property investment pandemic.
You only have to read online media and main stream posts to notice the two schools of thought. On the one side, the pro property investment at any cost spruikers. Their train of thought also coupled with an alarming push for new property and the further push, to use self-managed super funds (SMSF) to acquire the property.
The other side, most pro-property investors refer to as the “property bubble doomsayers”. These thinkers are often belting out article after article on the oncoming bubble bust.
Is there a middle ground, the safe zone if there is one, and how can we vaccinate ourselves against the property investment pandemic? A pandemic that is saturating the airwaves and our inboxes with advertising.
Two factors to consider
Property investing is a personal investment strategy that has to be tailored to suit each individual’s requirements. It should consider income source and financials, to property taste and the main reason/s for investing in property in the first instance.
The cliché, “location location location” also rings true when looking at property investment strategies. In some parts of Sydney you can literally cross the road and be $50,000-$100,000 apart when comparing like property. Why? Different council, aspect and selling agents marketing strategy are a few reasons which come to mind.
Property has its inherent unique qualities, this can be noticed even when comparing units in the same complex as each other.
What are the magic elixirs being sold at investment seminars? 
Before attending these property investment seminars, we need to ask the question, what are they actually selling? Some disguise the virus as free property investment strategy information, but ultimately present a project that has been priced appropriately to sustain the 8% - 10% commission. Some sell educational packages and yet, still direct you to a property project that happens to fit the topics learned.
There are many strategies being presented. Some property strategy seminars do come with good intentions and do provide great information. It is up to us to be clear on what it is that we personally believe will suit our individual financial requirements and wants in our property investment journey. Yes, it’s a journey not a flash in the pan, get rich overnight scheme. There is no magic potion to warp us there at light speed, it’s a strategy.
Schools of thought
As we look at the current climate and the hot property markets, I feel there is a strong need to sift through volumes of information. Further consideration and close attention is needed to assess what many spruikers and doomsayers are saying. Only then can we begin to chart a course for an effective strategy and one based on fact and less on emotion.
The information presently comes in many forms, shapes and people. From the ex-RBA economist Jeremy Lawson’s <a href="/news/australian-housing-prices-up-to-30-overvalued-standard-life-economist">warnings of our household debt-to-income ratio</a> being dangerously over 150%, to the AFR columnist Christopher Joye’s articles on <a href="https://www.afr.com/f/free/blogs/christopher_joye/cash_sacrificed_on_the_altar_of_VqWVy9UVwaGjtTGlE9uxUN" target="_blank">cash being sacrificed for easy credit</a> and his belief that <a href="https://www.afr.com/f/free/blogs/christopher_joye/record_housing_investment_boom_accelerates_LFmrGSAXr2YBcFBoOhRXIK" target="_blank">the property bubble is already upon us</a>.
Then there is Jesse Colombo, a renowned global economist, that predicted the GFC before it hit and is now a prolific writer on global property and economic bubbles.  Jesse <a href="https://www.thebubblebubble.com/home/about/" target="_blank">warns many readers to look at global economics</a> and not just local economics to make rational property investment decisions.
We do have our home grown local property gurus. Dr Andrew Wilson for one. On a discussion on radio 2UE, he shared his belief that we need not fear the overstated dangers. I asked the question of income to house price ratios. This is the comparison of, the median home values in Sydney to average household wages. A figure that represent 1,300% difference. Basic terms, we earn on average 13 times less per annum than what a house is worth. Normal ratios would be 300%-450% or a 3.5:1 ratio. 
Supporting the argument of the “don’t panic elixir vendors, it’s all steady as she goes”, are the four economists of the major banks; Bill Evans from Westpac, Alan Oster from National Australia Bank, Michael Blythe from Commonwealth Bank of Australia and Warren Hogan from ANZ. All in unison advising the government that <a href="/expert-insights/no-housing-bubble-the-big-bank-economists-conclusion">homes are still very much affordable and there is plenty of credit still</a>.  Is there when the average household debt to income is at 150%?
This article continues on the next page. Please click below.
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Easy money and my opinion
Easy money contrary to popular belief does not make housing affordable or easier to purchase. Utilising super funds for purposes of deposits on homes will not work in my view, also supported by the super fund fiasco created in Canada.
Home grants passed on by the state governments and other government or non-government incentives only fuel home values. Perhaps many are of the opinion that developers and builders don’t listen to the news because they are too busy building? Allow me to burst your bubble. Any easy money given out, makes the developer and builders grin with inner most joy as they can increase the value of the end property product by double that which is granted.
Then there is the mother of all incentives. The commissions payable to the agents to promote overpriced property. The term agents in this case does not only refer to “real estate agents” it also refers to but not limited to; mortgage brokers, financial planners, property clubs, accountants and other institutions that moonlight as property expert advisors. Only yesterday I was offered to sell a project in Melbourne with a fee of 12% commission. After a lengthy discussion with Catherine Cashmore, we both determined the true value of the complex to be 15 to 20% over valued. Why did they source me to have a crack at promoting the magic? It could well be my connection with agents who have investment syndicates and overseas investors. Unfortunately, local are also caught in the project.
How do you avoid catching the property investment plague?
Here are some simple tips on how to avoid being caught up with the hype and property flu. These are a few of what I share with family and friends. Tips that keep you and give you a healthier sight of investing in property.
<ul>
<li>Personally, research the area where the spruikers and buyers agents are taking you. Don’t just rely on the so called experts.  </li>
<li>Don’t rely on rental returns from one industry, such as mining. Check out local rents paid by the locals within the secondary stock.</li>
<li>Call on local agents to see what they have to say about the project.</li>
<li>Ask the local agent for comparable sales of near new secondary stock. Even other new property that may be available.</li>
<li>Ask for commission statements payable to the group providing the seminar.</li>
<li>Is the seminar geared to a single project or perhaps two?</li>
<li>Is the seminar’s single focus on new property alone?</li>
</ul>
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
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The property investment pandemic: How to avoid spruikers and bad advice

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GUEST OBSERVATION
It is interesting how underquoting is allowed to rear its ugly head.
Last week, the government-owned heritage property at 119 Kent Street, Millers Point (pictured above) <a href="/expert-insights/buying/vacated-millers-point-four-level-terrace-fetches-1-911-000-at-private-state-government-auction">sold at auction for $1,911,000</a>, through McGrath.
The initial price guide was reported to be $1,000,000 and then adjusted to $1,300,000. The property, as we well know, has been sold for $1,900,000. Almost 100% above the original price guide. Jonathan Chancellor’s article on <a href="/expert-insights/buying/buyers-needed-to-add-11-to-weekend-sydney-pre-auction-price-guidance">being prepared to adjust your expectations at auction by 11%</a> just went out the door. I cringe with disbelief that this has been allowed to happen.
This auction campaign was backed by the NSW state government. I wouldn't suggest that because of this the agents running the marketing campaign/auction sale have been absolved from following the strict guidelines of the real estate industry's regulations, but the agent has not gained any credibility. It could just be a sheer case of blatant ignorance and an agent simply not understanding their industry. But then again any publicity is good they say, even if it’s bad.
The property itself, regardless of the state it was presented in, has vast inherent value - it is located in an address that boasts local sales of up to $6,000,000. A harbourside, and much sought after, prestige location that for the postcode alone is worth $1,000,000.
Now, if we add the historical and actual building value, we could comfortably add hundreds of thousands more. Then there is the value of the actual block of land. Even if we looked farther afield, to <a href="/news">Annandale</a> and <a href="/news">Leichhardt, </a>shacks have reached the $1.2 million to $1.5 million mark in the past.
How, in heavens name, did the agent come up with the original price guide and, even when adjusted, fall so short of where the offers finished?
Were they looking for a crowd? Or publicity perhaps? I can’t figure it out.
If it is sheer ignorance, maybe a professional valuer should have been called in to provide a realistic price guide. I am once again alarmed how this four bedroom home in this location was advertised publicly for so low. The underlying question is: did the low price guide also work against the price achieved? Could a more realistic price guidance have attracted a different clientele that would have pushed the price even higher?
I guess we'll never know.
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
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Nearly 100% above the initial price guide? Underquoting rears its ugly head

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What is a property worth and who determines the end value? Odds on, it’s the valuer.
To most property investors, the phrase “a property is worth what someone is willing to pay and what the vendor is willing to accept” would hold true. This premise does not necessarily hold true with the banks funding the purchase, the agents and particularly the valuer.
How can so many industries hold vastly different opinions over the value of a property?
The Funding Banks Position
Over many years I have attended hundreds of bank valuations for settlement purposes and valuation inspections for re-financing purposes. As a novice I expected identical results. However, experience taught me that the same property may be valued for different purposes and the figures can be 10%-15% apart.
Sometimes one valuer will have a very different opinion to another valuer. Even worse, I have had the same valuer place different values on identical properties only a few weeks apart. Both were the same in style, configuration, position, block and level. How could this be so?
I soon learned it was due to the loan to value ratio (LVR). The funder simply wants to hedge their financial position and loan. It makes sense, the higher the LVR the lower the valuation. Different banks adopt different policies and therefore some are more lenient than others. The rule of thumb for a valuer is, as instructed by the banks, to value at a price point that could be achieved if the property was to be taken to an urgently orchestrated auction.
How is it that lenders settle on what is considered to be an overpriced property? As you dig deeper, the loans requested are typically at low LVRs, usually less than 70% of the sales value of the property. If the bank valuation does come in low however, the buyers are comfortable to tip in the balance. Most overseas investors do not walk away from a settlement as a local buyer would.
The alternative in today’s market is to hedge the loan with lenders mortgage insurance (LMI). Even if the banks do accept a lenient valuation and provide a high LVR, they are protected. The buyer however pays a high price to protect not themselves but the banks interest. This may be seen as typical in a hot property market like we are in now.
The valuer’s role
The role of the valuer is to provide fair and market value of a property. A simple request, but not a simple exercise.
The valuation is performed by an individual that has spent years obtaining a university degree to competently provide a report. However, market conditions and banking requirements negate the proper process of what would otherwise be a textbook valuation.  
Here are some of the difficulties and insights I have been able to hear firsthand from valuers over the years:
<ul>
<li>Time pressures to perform a well-structured inspection. Typically a valuer will only spend on average five to 10 minutes at the property. More time is spent travelling from one appointment to the next.</li>
<li>Pressures to adhere to individual banking requirements, as opposed to market forces.</li>
<li>Pressures of funders paying less, when valuers face greater costs to run a business and provide a service. Increasing costs of personal indemnity insurance and staffing overheads are some of their concerns.</li>
</ul>
So given these hurdles, how can the valuers do their job in the right manner? The valuation process may constitute measuring the property inside and out properly, ascertaining the value of the construction of the dwelling, working out depreciation of fixtures and fittings, the depreciation of dwelling ratio to appreciation of land ratio, rental returns and most recent sales in the area of like properties and how they compare in all aspects.
Not a lot of time is allocated or adequate reward given by the funder to do a proper assessment. Therefore the valuers rely on the local agents for recent sales data and other forms of online tools/websites. Most importantly, the valuers are reliant on the contract of sale (the front page outlining sale price and special conditions).
Special conditions may note any vendor guarantees such as rents, gifted cars or other incentives. The valuer can also work out from the contract as to who sold it to gauge commissions paid out.
For a valuation of a refinanced property, the valuers are also relying on the documentation which outlines the revaluation amount sought by the owner. Information passed on to the bank by the mortgage broker and by the bank to the valuer.
This article continues on the next page. Please click below.
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How independent is the valuation under the stated conditions?
I will throw my hat in the ring and say, not very independent at all. Allow me to raise the following concerns and you can assess for yourself if the valuations are as independent, accurate and as transparent as we would like to believe they are.
<ul>
<li>The bank orders the valuation and pays for the valuation.</li>
<li>The valuers understand who “the hand that feeds them” is. Therefore, are they persuaded by the policies put in place by the lenders, or will they genuinely adopt a totally arm’s length approach?</li>
<li>How can valuers make well educated assessments of the property when such little time is spent at the property due to time constraints?</li>
<li>How in-depth are the valuation reports and how much data is imported to create the report when the rewards are so small in comparison to time spent?</li>
</ul>
 If you believe the above is entirely a speculation on my part, made from purely a cynical point of view, then one should ask the following question: Why do valuers ask for and need the front page of the contract before writing out their report?
It is a question that underpins my belief that valuers are simply not paid well enough, nor given sufficient time to conduct and produce proper valuation reports. Valuers have become short change researches and quick photo takers, which rely purely on instant data to satisfy their client: the banks.
But not all is lost, as I do take my hat off to the valuers that take time to research the market, have an understanding of construction and keep up with market conditions and trends.  Not dissimilar to the good real estate agents that shine in the high markets as well as in the low turning markets.
So here are my four tips to achieve the most in a property valuation:
<ul>
<li>Prepare the property for a valuation as you would for an open house.</li>
<li>Don’t send the valuer to a tenanted property without being accompanied by the agent. The agent should be equipped with research data to promote desired outcome.</li>
<li>Do as much homework as you can for the valuer and have the print outs of like properties that will give you the desired outcome, even if it’s for a re-finance situation.</li>
<li>Always accommodate the valuer with time and don’t make them wait.</li>
</ul>
If you believe the above is true and you have had similar circumstances as those described, I would like to read your comments.
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
Propell's Bart Mead and Mark Nassif have responded to this article in a piece you can read <a href="/expert-insights/property-valuations-arent-an-opinion-they-are-a-professional-standard">here</a>.
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How independent is a property valuer?

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GUEST OBSERVATION
Not so long ago it was considered a wise investment to buy an off the plan property.
I’m not sure if this premise stacks up now. As shared in a previous article, overseas investors (OI) are paying premium prices for property and the notion of “buying at a cheaper price point” to assist the builder/developer no longer exists. With the new trend of having guaranteed purchasers predominantly from Asia, purchasers pay future prices for property thus allowing for add-hock construction and for builders to push property out quicker than ever.
This new trend of quick development and guaranteed sales is fuelled by the high commissions payed to real estate marketers and agents that have a reach into the off shore investor markets. Investors that by nature I have come to identify as highly speculative risks takers. Why not, when the current market conditions in Sydney is hot and Sydney is seeing as a safe haven politically and with respect to property?
Ove the last 18 months I have been a witness to properties sold to OI with commissions as high as 8-10% and with these attractive rewards, the agents have made sure the projects are sold in record time. With the high returns developers and builders are achieving, comes (in some but not all cases) the temptation to lodge what is known as a Section 96.
A Section 96 is a variation to the building, primarily to increase the unit lots in the project. With the current property climate, the temptation is for developers and builders to cut corners in the construction phase.
Is it any wonder that when builders lodge the section 96s for variations, major changes to the unit complex come to the point where there are reports of units disappearing to make room for more car spaces, as commented on Radio 2UE a few weeks back.
However, this discussion fails to consider the real estate agent’s duty of care to the purchaser, as well as his client, the vendor.
The key to this is the solicitors acting for the purchasers. They have a duty to be on side of the purchaser and to be thorough and act swiftly when required. Once again in some cases but not all, the solicitors acting for the OI purchasers have the same unique relationships with the agents and developers.
Five tips on how to protect yourself when purchasing off the plan properties:
<ol>
<li>Insist all variation clauses in off the plan purchasing contract are looked at methodically. 
</li>
<li>Check proposed location of unit and car space and storage on proposed strata plan. Have these identified and signed off by vendor. 
</li>
<li>Carefully check that list of inclusions is detailed and very descriptive and not vague; 
</li>
<li>Discuss in detail what the tolerance percentage allowable for variations to unit size will be. Keep it as minimal as possible. Developers typically want a 5% variation. This could be the loss of a laundry or a linen cupboard, or even a bathroom.  
</li>
<li>Don’t accept the unit before completing an independent building inspection, done at your cost. Make the vendor aware this will take place as a condition of purchase. Builders will rely on their own reports and their foremen will not have the eye for detail, particularly when inspecting a hundred units or so. </li>
</ol>
{qtube vid:=m6E1os9ubA0}
YOU MAY ALSO LIKE TO READ:
<a href="/news/what-are-sydney-s-million-dollar-ghettos-and-where-are-they">What are Sydney’s “million dollar ghettos” and where are they?</a>
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
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Five tips for protecting yourself when buying an off the plan property

<html><body>
GUEST OBSERVATION
A lot is being said about the standard rate of commissions dropping in recent months, where the average fees have dropped by up to 30%. This from an industry average of 2% rates over the sale price of the property to 1.7%. Is it a case of too many “agents spoiling the industry” or simply basic mathematics?
Property Prices
We have seen over the last 12 months double digit figures in the percentile rate of properties increasing in values across major capital cities.
Almost three years of capital growth with alarming figures in prices achieved another bench mark of what is happening in the property market. Some areas such as the outer western suburbs of Sydney ( such as <a href="/news">Mount Druitt</a>, <a href="/news">Hebersham</a>, <a href="/news">Lethbridge Park</a>, <a href="/news">Whalan</a> and <a href="/news">Bidwil</a>), have witnessed property values increase from $210,000 to $290,000. Valuations and prices sourced from our landlords. 
Now let’s look at the affluent areas making headlines such as; the Inner Western suburbs, Redfern and the North Shore Corridors. These areas that have been exposed to 20% to 35% capital growth in pricing.
Let’s do the maths
Lower priced properties last three years: Three bedroom home 
<ul>
<li>$210,000 x 2% = $4,200</li>
<li>$290,000 x 1.7% = $4930</li>
</ul>
Higher valued properties sample <a href="/news">Dulwich Hill</a> last three years: Two bedroom apartment
<ul>
<li>$530,000 x 2% = $10,600</li>
<li>$640,000 x 1.7% = $10,880</li>
</ul>
And if we look at median prices:
<ul>
<li>2010 median home values Sydney $633,200 x 2% = $12,664</li>
<li>Current median figures Sydney $781,000 x 1.7% = $13,277</li>
</ul>
What does a Vendor get for their commission?
The average time properties currently spend on the market is notably less. There is a push toward auction campaigns that run three to four weeks and the banter from industry 'specialists' is that if the home is on the market for longer than four weeks, the advertising is stale.
Summary
There is an incorrect assumption that agents deserve more for the work they do, and real estate agents need to pull their heads in. In fact, agents are being paid more although the commission rate may reflect a lower figure. Are agents giving any more for their want to earn more in fees? I believe not. If anything the push for vendor paid advertising throughout most major industry training seminars is actually costing vendors more.
There are approximately 53,000 registered real estate agents in NSW alone; an overcrowded industry with fewer experienced agents staying in.
We now have direct competition from mortgage brokers, financial planners and accountants as well as marketing companies assuming the role of the real estate agent when selling new properties.
Most of the industry is bidding for the custom of a reduced footprint of sales in the “secondary stock” space, the mum and dad homes.
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
Note: Edwin happily takes 1.5% commission on properties for certain clients as a commercial decision. Some use both his property management services and sell multiple properties through his business.
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Agents: Pull your heads in about commissions, you’re getting more, not less

<html><body>
GUEST OBSERVATION
It didn’t really hit me how many consumers take advantage of your non-traditional shopping institutions on a Sunday, until I just walked past a bank that’s open for trading.
I have been saying for a while now that Sundays has become the norm for some real estate offices to remain open. I have on many occasions held open home inspections on a Sunday both to: cater for the possible buyers that work on a Saturday and also due to the level of interest in the property.
At all times trying to achieve the most for the vendor, by allowing and accommodating for the “dream buyer” to come through.
Sundays is my new Monday I banter around the office and share with industry colleagues, as more and more of them seem to also have open house inspections on Sundays. This I believe to be truer with the independent offices rather than the franchise groups.
I do, however, recall working Sundays many years ago, with a RE/MAX office where I was employed. Different market conditions, in fact it was very flat.
The reason was not dissimilar to this hot property market, it was simply trying to accommodate for the ideal buyer. The buyer that would pay more but needed more time to inspect.
My surprise today, was nonetheless to see a bank open on a Sunday, and full for that matter; I counted at least five tellers serving and all busy.
Is this the changing landscape for commercial institutions that are predominantly centred in and around property?
What next, will we see conveyancing offices and law firms also opening up on a Sunday? 
On the one hand it does make sense if you want to maintain market share. On the other hand, make hay whilst the sun shines and get in early, especially with the record sales presently being reported.  
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
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For real estate agents, Sunday is the new Monday

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Asbestos is the word of the week, and for good reason - it's dangerous stuff. The list of where it can be contained in a property is neverending, from sheeting, tiles, splashbacks and coatings to the glue itself used to hold everything together.
Since it is asbestos week, the media and a number of government agencies are actively getting behind the issue of asbestos and the dangers it poses in and around homes. Most of the drive is centred on the concerns relating to renovations, particularly for DIY renovators. Yes, 61% of DIY renovations are affected but what about the dangers faced by tenants in some areas of Sydney where properties are riddled with compromised asbestos sheeting?
Some weeks ago I noted this (in <a target="_blank" href="/news">a video filmed at a rental here</a>) and made calls to radio stations to inform the public of the then asbestos dangers we will face due to the Blue Mountains fires. At the time, the insurance companies were requesting owners of the burnt out properties to go to their site and photograph their homes. I made a call and alluded to the imminent dangers of such a  request; the primary factor being the simple reason that the asbestos sheeting in the burnt out homes were compromised and had turned to dust, therefore making it highly toxic.
Similarly, there are a large number of leased residencies approximately 230,000 dwellings of similar nature to the homes that were burnt out in the bush fires. Mainly weatherboard homes built prior to 1970’s. Asbestos sheeting is okay if left alone and not compromised by; drilling into it, breaking it, driving a nail through it or cutting and grinding it. Yet, when we inspect properties mainly in the western suburbs, there is an alarming abundance of homes which have the above defects, notes my good friend David Piva from Jims Property Inspections.
Why are the dangers around these dwellings not taken care of? Why are there no national incentives by way of “government funded grants” for landlords to be assisted with the remediation of all asbestos sheeting where tenants are living without knowing of the dangers they are surrounded by?
The picture below was taken at a rental in Sydney. The shed at the back left of the photo shows where the fibro (asbestos) sheeting has broken off leaving the material of the shed (the darker colour) exposed. This leaves a substantial danger to the tenants.
<img src="/images/stories/2013/11/25/asbestos-nov-25-three.jpg" alt="asbestos-nov-25-three" height="402" width="470">
<img alt="asbestos-nov-25-one" height="173" width="230" src="/images/stories/2013/11/26/asbestos-nov-25-one.jpg"><img alt="asbestos-nov-25-two" height="173" width="230" src="/images/stories/2013/11/26/asbestos-nov-25-two.jpg">
Asbestos is a silent-killer and the contamination may not be evident if a person is affected for upwards of 17 – 50 years on. There is a real danger and this need to be addressed now - not tomorrow.
There are children playing in asbestos contaminated backyards, people showering in asbestos contaminated bathrooms and people cooking in and around asbestos contaminated kitchens. Yes, you read correctly. Any home built prior to 1987 has asbestos in some form or another in the wet areas; including bathrooms, laundries, kitchens and toilets. Do I have your attention now?
You wouldn’t live under these conditions, so why are we exposing tenants that don’t know any better to the dangers we ourselves try and avoid?
What is asbestos and where is it found?
{qtube vid:=I7L46PnHXYU}
To find out more go to <a href="https://www.asbestosawareness.com.au/" target="_blank">www.asbestosawareness.com.au</a>.
 
<hr>
 Edwin Almeida is managing partner and licensee-in-charge of <a rel="nofollow" target="_blank" href="https://www.just-think.com.au/">Just Think Real Estate</a>.
 
 
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Asbestos is a silent killer and our ignorance is putting people in danger

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

Edwin Almeida

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