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When investing in property it is typical for buyers to purchase in areas they know well. Unfortunately, this strategy can sometimes be at the expense of investment performance.
Astute investors select property based on the facts. Selecting property from a range of suburbs or interstate can be appealing for many reasons; to diversify your portfolio, to access more affordable or upward trending markets or to access state or property-specific benefits. Whatever the reason, the common goal is to maximise the benefit of owning an investment property.
Despite the added complexity of distance, the process of investing interstate or in unfamiliar areas isn’t fundamentally different from investing in your own neighbourhood. So what are the key things to consider before buying a property in an area you don’t know?
What should I buy and where?
The geographic location and property type you invest in depends on your personal circumstances, including your budget and goals.
The key is to ensure your investment strategy is based on thorough analysis and research of the area, the street and the particular property before deciding to buy. Consider those areas that are supported by sound employment, a permanent population (as opposed to one supported by a transient or temporary workforce or community), well-established infrastructure, including transportation, education, retail, medical services, recreational and entertainment facilities.
What’s the best way to research my investment?
The costs associated with visiting an interstate property can sometimes compel investors to purchase a property without physically inspecting it. This can result in false expectations about the condition of the property and the neighbourhood it is located in. Always view the property, or have someone you trust do it on your behalf.
Research the local property market by reviewing local property prices, the population demographic and amenities. Also, ask the selling agent to provide you with recent comparable sales to support the asking price.
When is the best time to buy?
The property cycle moves differently in each market. While it is inadvisable to attempt to ‘time’ your entry into the market, you must consider the ebbs and flows of the marketplace in relation to the property you are considering. Ask yourself, “has this property performed in the bad times, as well as the good?” Remember, a property’s historical performance is a good indication of its future performance.
What do I need to know before I buy?
It’s important to know the real estate and planning laws employed in the state of purchase. Practices differ from state to state and what’s considered normal practice in Victoria may not apply in Queensland or other states.
When buying an investment property it’s wise to protect yourself by engaging a professional who knows the local market. A local buyers advocate can assist you in identifying, inspecting, negotiating and purchasing a property, while reducing risk exposure. Likewise, it’s wise to engage a solicitor or conveyancer in the state of purchase to ensure you have satisfied all of the legal requirements of the purchase. When compiling your team of experts ensure you enquire about their qualifications and experience and ask for references where possible.

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Greville Pabst is CEO of <a target="_blank" rel="nofollow" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;ved=0CEAQFjAA&amp;url=http%3A%2F%2Fwww.wbpproperty.com%2F&amp;ei=Jb4hUevODOyamQX6mIGYDQ&amp;usg=AFQjCNH0u8Ji9ymluq8AKARfB-KjHZ-aFA&amp;sig2=DNsIKQR7tQj4PtYuiJOHPA&amp;bvm=bv.42553238,d.dGY">WBP Property Group.</a>
 
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Four tips for buying property interstate: Greville Pabst

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A property recovery is underway. The recovery will be modest and still below long-term growth averages for the nation, however, there is little doubt that property will be more expensive in 2013.
Signs point to growth potential for a number of residential sectors as a result of a positive shift in market sentiment in late 2012, the likes of which were evident in 2010 when Melbourne prices demonstrated solid growth. 2012 saw a steady increase in clearance rates and a small return to the market due to growth in median averages. The increase in the clearance rate from this time last year until the present is over 20%.
Property investors were among the most active buyers in 2012, but while this buyer segment is expected to remain active this year they will face rising competition from increasingly active owner-occupiers looking to upgrade or downsize following improved market conditions.
However, despite improved conditions buyers should exercise caution when engaging in a purchase. Property has become an increasingly complex investment vehicle and is no longer a simple prospect for the novice investor.
It’s important to recognise that no two properties perform the same because no two properties are exactly the same. Size, suburb, street and lot location, orientation, condition and broader economic conditions underpin property performance on an individual level, and exercise significant influence on capital growth.
In general terms, in 2013 the most active segment of the market is expected to be the middle tier established housing market, particularly family homes in the range of $600,000 to $2 million. This assessment is based on historical market performance, which is typically a sound indicator of future potential performance.
When purchasing property, investing time in analysing a property’s individual historical performance trend is a worthwhile exercise to provide peace of mind and some degree of certainty regarding future investment performance.
Property is far more complex today than it was in the past and no longer is it an investment vehicle for uneducated investors. Not all property will perform in the same in 2013 and buyers need to be informed and aware of this when buying to ensure they understand the capital growth drivers that make a good investment property.”
There are signs of a positive shift for property values, the likes of which we haven’t seen since 2010 including:
<ul>
<li>More bidders at auctions and more interest at open for inspections.</li>
<li>Anecdotal evidence of much better results being obtained at private sales.</li>
<li>Second-ring areas and outer suburbs reporting strong selling results.</li>
<li>The market had a strong spring and experience tells me that a good result in spring leads to a strong summer/autumn.</li>
</ul>
It should be noted that banks and lending institutions are doing everything they can to present attractive lending options. When the banks are lending at low interest rates the buyers will return to the market.”
Overarching tips for 2012
Remember, use the rule 'location, location, location' in all property transactions - buy in the right suburb, on the right street and in the right position on the street or block.
By making smart well-informed property decision you will watch your investment grow.
If you don't have the time (up to 20 hours per property) or the confidence to buy a flawless investment then seek advice from a certified property advisor. Don’t risk a guess on such a large investment.
Greville Pabst is CEO of <a target="_blank" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;ved=0CEAQFjAA&amp;url=http%3A%2F%2Fwww.wbpproperty.com%2F&amp;ei=Jb4hUevODOyamQX6mIGYDQ&amp;usg=AFQjCNH0u8Ji9ymluq8AKARfB-KjHZ-aFA&amp;sig2=DNsIKQR7tQj4PtYuiJOHPA&amp;bvm=bv.42553238,d.dGY">WBP Property Group.</a>
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A modest property recovery is underway led by “middle tier” family homes: Greville Pabst 

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Melbourne inner east
In Melbourne’s inner east slowing demand led to prolonged selling periods for many vendors in 2011, with buyers taking advantage of weakened conditions by making low offers. Consequently,  many properties that typically go to auction were offered to the market via private sale amid fears of insufficient demand.
Suburbs including Ringwood and Blackburn were among the region’s worst performers, suffering from increased supply of housing while demand constricted. Similarly, the suburb of Doncaster continues to see an ongoing increase in the supply of new apartments. The oversupply has implications for local values in the future as the stock of similar properties competes for buyers.
In 2012, the improvement to affordability is expected to give rise to activity from entry-level and first-home buyers who would otherwise be priced out of the market. However, activity among established home buyers is expected to remain slow as prices continue to stabilise following strong growth in 2009-10.
Geelong, Bellarine Peninsula and Surf Coast
During the final quarter of 2011 there was a general easing of sales activity and buyer enquiry across Geelong and Bellarine Peninsula, as demand from first home owners and investors softened.
Buyers are seeking well-maintained property that requires no immediate repairs or improvements expenditure such as new homes and fully renovated dwellings. Established home owners remain inactive and are concentrating on reducing debt levels in the short to medium term. This has caused a decline in properties for sale within the $500,000 to $1 million range.
The summer selling period has brought reasonable demand for properties in coastal areas including Ocean Grove, Barwon Heads, Torquay and Anglesea, however, slower selling conditions continue in Bellarine towns such as Portarlington, Clifton Springs, St Leonards and Leopold. This is expected to continue into the second quarter of 2012.
While it has not experienced any significant increase in property prices, Geelong West remains in high demand, with properties selling much faster than surrounding areas. Conversely, Wandana Heights has experienced sluggish sales as a result of improved transport linkages to neighbouring suburbs and supply of new housing available in the well regarded suburb of Highton Ridge, resulting in a poor performance for the area.
Macedon Ranges
Improved affordability had little effect on demand in Victoria’s north, with little activity from buyers and sellers in the Macedon region in late 2011. While transactions continue to occur they do so at lower levels than 12 months earlier, applying pressure to vendors to meet buyers’ expectations.
This trend is likely to persist in the first quarter of 2012, with movement in values between -4%  and 4% for some property types. This means there are good opportunities to buy in suburbs such as Gisborne and Woodend.
Even though conditions are ripe, investors are scarce, with buyers namely consisting of owner-occupiers and those downsizing from larger rural properties. Properties on larger allotments of land valued at over $600,000 are experiencing prolonged periods on the market due to poor demand.
On the upside, current conditions mean there are strong opportunities for savvy investors to purchase property at reasonable prices and achieve a sound investment return.  The area is experiencing a shortage of rental properties, which has led to significant demand and competition among renters.
South-east Gippsland
Melbourne’s outer south east eased into the new year period, with many buyers chasing reduced prices.
The Cranbourne prestige market softened in 2011, with some agents reporting 20% price falls and minimal sales over $500,000.
Similarly, Berwick recorded a fall of more than $35,000 in the median house price during the December quarter. While median statistic are often misleading due to fluctuations in stock levels the price fall has been confirmed by local real estate agents who witnessed the price decline across the outer south east, particularly within Pakenham, where demand dramatically reduced during the December quarter.
The Wonthaggi Desalination Plant has brought hundreds of workers to the town from Melbourne and surrounding towns.
The infrastructure project has attracted investors and resulted in rising property prices in the area. Local real estate agents reported that the investors seeking to purchase in the area held very little discrimination to local property and were just eager to secure a property. The desalination plant brought a transient workforce to Wonthaggi, which increased average rental returns from 4% to a high of 10% at peak periods. The activity also stimulated an increase in property prices by an average 25%.
As construction on the project nears completion prices in the town appear to be trending down, with the price of some properties already falling 20%. For now rents remain stable at 6% to 7%. The downward trending in the growth in this area begs the question about the long-term investment viability of Wonthaggi and other regional communities subject to major projects.
Greville Pabst is CEO of the <a target="_blank" title="WBP Property Group" href="https://www.wbpproperty.com/">WBP Property Group</a>.
 
 
 
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Hotspots: Four bright spots for house prices in Victoria for 2012: Greville Pabst

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Apprehension from property buyers and sellers led to a notable reduction in stock and transaction volumes across Melbourne in 2011, triggering a decline in values by a reported 6%, according to the Australian Bureau of Statistics.
According to reports, fewer than 69,000 homes were sold in Melbourne, representing the lowest number of property sales in a decade and a drop of 37% from a peak of 109,000 transactions in 2007. This figure is well below the decade average of more than 90,000 transactions per annum.
Despite this, a more favourable performance is expected for the market in 2012, following improved affordability, subdued credit growth and a higher propensity of both groups to save.
In what is an encouraging sign for the market, Melbourne property showed marginal increases in median house and unit prices in the fourth quarter of 2011 to $550,000 and $455,000 respectively, after interest rate cuts in November and December.
The Reserve Bank's decision to leave cash rates unchanged in February affirms the strength of the local economy and will allow for a more moderate start to the property season.
Even with the anticipated improvement to sentiment, market performance will remain subject to sector-specific pressures in 2012. WBP Property Group’s property advisors have grouped each property type and forecasted its performance for the year ahead.
The luxury and mortgage-belt property segments were among the poorest performers in 2011, thanks to credit confidence and unemployment pressures. Although overall conditions have improved, these markets are susceptible to further decline. Properties prices of $2 million and above in areas of Stonnington and Boroondara, including Brighton and Black Rock, are predicted to fall up to 10%.
Mortgage-belt areas, such as Pakenham, Cranbourne, Melton and Clifton Springs, are set for price falls of up to 7%.
However, the news is optimistic for other areas of the established house market, which is tipped for positive growth in 2012. In particular, established houses priced at less than $2 million in well-regarded inner-suburbs such as Hawthorn, Kew, Richmond, Prahran and, slightly further afield, suburbs such as Ashburton, Camberwell, Hampton and Mentone, are expected to demonstrate growth of up to 3 to 4%.
Similarly established units and apartments situated in smaller developments in inner-city lifestyle locations will record a positive increase in growth in 2012. Areas include Armadale, Elwood and Hawthorn, where competition remains fierce for quality properties situated near Melbourne's “villages” and within a short commute of the CBD.
Conversely, modern units and established apartments in the CBD and Docklands are predicted to decline of up to 5%, with oversupply issues, lenders' pre-sale requirements and credit restrictions impacting saleability.
With discretionary spending expected to remain low in 2012, holiday properties are also predicted to continue to suffer with falls starting at five per cent and up to 10% for the leisure market.
In 2012, individual property performance will depend on location, size and aspect, particularly as buyers become increasingly selective. While current conditions remain favourable for buyers, they must be aware that not all properties represent sound investments.
Further afield, house prices in regional Victoria demonstrated overall growth of 0.8%, with a median price of $312,500. Figures for December show that Bendigo increased by 6.3% to $294,000, Ballarat increase by 3.7% to $290,000 and Geelong weakened by 2.3% to $380,000. However, be careful to do your research as much of the growth in these areas is artificial and driven by sales in new housing estates.
Tomorrow we will report on four Melbourne regions in the spotlight. 
Greville Pabst is CEO of the <a href="https://www.wbpproperty.com/" title="WBP Property Group" target="_blank">WBP Property Group</a>.
Photograph of Elwood village by <a target="_blank" href="https://www.ipostcodes.com.au/">iPostcodes.com.au</a> courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
 
 
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Melbourne housing market expected to improve in 2012, particularly in villages: WBP’s Greville Pabst

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The change of season brought some welcome warmth at the weekend, drawing people to Melbourne’s many auctions and open for inspections.
However, though crowds were out in force, there was little improvement in auction results, with the city once again achieving a clearance rate of just below 60%.
This uneventful start to the season comes as little surprise in light of the caution shown by Melbourne buyers in recent months, particularly with regard to flawed properties, of which there are many in stock at present.
With auction volumes set to increase by more than 30% in the next fortnight conditions are expected to improve, including an improvement in the quality of stock on offer.
But despite the imminent increase in stock in coming weeks the real change in Melbourne’s auction market may take some time to materialise.
Auction campaigns typically operate over three to four weeks, which means there will be a large number of auctions scheduled in the three weekends between the AFL grand final and the Spring Racing Carnival, and further activity in November through to December 17.
The interruption of these significant social sporting events will dictate the auction calendar in October and early November and redistribute the volume of auctions for the earlier part of the season.
Greville Pabst is CEO of the <a target="_blank" title="WBP Property Group" href="https://www.wbpproperty.com/">WBP Property Group</a>.
 
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Anticipation builds for post-grand final auction run home

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In the second and final part of a <a target="_blank" title="Property cliches " href="https://www.propertyobserver.com.au/residential/buying-property-takes-more-than-cliches/2011082151235">series examining property clichés</a>, I explain why buying the worst house on the best street can be a bad idea, as can trying to be too creative
1. Buy the worst house on the best street:
Buying the worst house on the best street can seem like a cost-effective way of attaining that sought-after location, however, it is not without risk. 
In this instance the goal is commonly to transform the property from the worst to one of the best properties on the street. However, any saving on the initial purchase is often quickly absorbed by renovations to improve the property. 
Conversely, deciding to leave the property in its original purchase conditions can have negative implications for the property, which will be reflected in future capital growth. 
It may actually be more cost-effective to buy a better property and forgo the expense, stress and risk of renovating. 
2. Think outside the box:
When it comes to investing in property there is no need to reinvent the wheel. Properties that offer the best returns aren’t necessarily architecturally unique or modern. In fact, they are more commonly well-located inner-city period and pre-1970s properties. 
Property selection isn’t a guessing game. Stick with tried and tested selection methodologies that rely on empirical sales evidence, not speculated or high-risk returns. 
3. A renovator’s dream:
As a number of new renovation property programs hit Australian television screens the would-be handyman in us all considers the prospect of buying and renovating to make a quick buck. But novice renovators often underestimate the commitment required to transform a property, which can cost them significantly. 
When deciding to renovate it is important to consider where the property is located, the type of property (i.e. house or apartment), whether it will be a rented investment property or owner-occupied and who the potential buyers or tenants of the property are. Put simply, sellers should renovate to their target market. 
It is also important to be wary of overcapitalising in a property, as the amount spent on renovations may not offer an equivalent return in the increased value of the property. A good rule of thumb is to not spend more than 40% of the property’s value on renovations. 
4. Up and coming:
When it comes to property don’t speculate. Purchasing on the basis of proposed future infrastructure such as roads, schools, shopping complexes and communities is risky. Hundreds, if not more, development proposals are put on hold or denied every year and when approved can take many years to build. There’s also no guarantee that the added amenity will add positive weight to local property prices. 
When buying property there is no better way to measure an asset’s future growth than to look at its performance history. 
Buyers must understand that property selection is not just about the suburb or about timing and transitional trends. Rather, it’s a process unique to the individual circumstances of the buyer or seller and the property.
Greville Pabst is CEO of the <a target="_blank" title="WBP Property Group" href="https://www.wbpproperty.com/">WBP Property Group</a>.
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Property cliches are not smart buying advice

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Television ratings reported considerable interest from Australian viewers in the most recent series of property reality TV program The Block. But the significant publicity resulted in little benefit for the four renovated Richmond properties when it came time to sell last weekend. 
Only one of the four properties sold under the hammer while the other three have since sold via private negotiation. While the result was considered disappointing for the shows finale the outcome is closer to reality than many may think.
This year buyers’ cautious approach to the market has resulted in a large number of properties passing in for post-auction negotiation. Unfortunately, a great number of buyers are opting to compete with other buyers in blind bidding behind closed doors, which ultimately may cause them to pay considerably more than they otherwise would have at auction. Though buyer uncertainty is understandable, many buyers fail to realise that there is significant advantage to buying at auction, particularly at a time when most buyers are reluctant to partake in the bidding process.
At present, Melbourne’s average overall auction clearance rate for the last quarter is just below 60%. However, while weekly clearance rates continue to paint a relatively consistent picture of Melbourne’s residential auction market, area-specific demand has been anything but homogenous. 
In recent months auctions have showed considerable divide in interest from buyers, with some properties drawing significant competition while others fail to attract a single bid despite sizeable crowds. Of the properties on offer in the last quarter, crowds showed strong interest in inner city real estate, particularly houses in the inner east and units and apartments in the inner south. This indicates that buyers are still willing to pay well for quality well-positioned properties. 
But although quality well-located property in Melbourne’s inner suburbs continues to move, discrimination from buyers remains high towards flawed property. 
Period homes such as Victorian Terraces have always been highly sought, due largely to their quality construction, scarcity and usually due to their well-positioned location. However, The Block properties aren’t your typical renovated period home. Many of the period features such as fireplaces, decorative cornices, architraves and ceiling roses have been stripped away, robbing the properties of much of the their popular heritage. 
Other important factors that are likely to have impacted the level of interest from buyers were the location and the price. Situated in Cameron Street Richmond, the properties are located opposite residential garages and a paid parking garage, and right behind busy Richmond Plaza. 
Parking in Melbourne’s inner suburbs is becoming increasingly scarce and can add or detract significant value from a property. As none of the properties offer off-street parking, parking limitations may be an issue for some buyers with implications for the value of the property. 
It is fairly well-known that the show’s producer paid approximately $3.6 million for the four properties and invested hundreds of thousands of dollars more in renovating and fitting them out. 
However, a property’s value is not solely determined by the cost of the construction of the dwelling. In fact, value in inner city areas is underpinned by the land component, which can account for 70% or more of the total value of the property. While Richmond has a high underlying land value, in this instance, the subject properties have overcapitalised on renovations – an investment that has not provided a dollar for dollar return. 
This means that the more than $1 million cost of each renovated property hasn’t translated into more than $ 1 million dollars’ worth of value for the properties.
Greville Pabst is CEO of the <a href="https://www.wbpproperty.com/" title="WBP Property" target="_blank">WBP Property Group</a>.
For expert commentary and analysis on lessons to be learnt from property reality TV, <a href="https://register.propertyobserver.com.au/lights-camera-auction/" target="_blank">download our e-book Lights, Camera, Auction!</a> 
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The Block result reflects current Melbourne market

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Buying property is the biggest investment decision most people make in their lives. Yet surprisingly, many Australians buy property with little or no investigation into the factors that drive individual property performance. 
Instead, they base their decision on assumptions, inadequately researched or incomplete information or third-party assurances that the property they are considering will provide them significant return on investment. 
Unfortunately, in the digital age misinformation is prolific and the cause of many poor investment decisions. Even well-trusted beliefs can prove misleading for the most experienced homebuyers and investors. 
However, questioning the validity of property clichés and commonly held assumptions can help both buyers and sellers make better informed decisions when it comes to investing for their future. 
Location, Location, Location:
The most well-known property cliché, location, is quoted as the quintessential factor when it comes to property selection. But, what many buyers fail to realise is that location is far more than just the right suburb or even the right street – it is as specific as the lot number or position in a block of units. 
While neighbouring properties may appear similar in many ways, factors such as aspect, orientation, floor plan and levels of natural light, not to mention security, all have an important impact on property value beyond the underlying land value. 
Hotspots:
It’s not uncommon for investors and buyers to chase the next big hotspot with hopes of making a quick buck. But, hotspots aren’t all they’re cracked up to be. 
By definition a hot spot is a suburb or area predicted to benefit from rapid short-term gains in value. However, despite an initial spike, a hotspot is usually characterised by slow or limited growth in the long-term that often eventually undermines short-term gain. 
Due to the high transactional cost of property investment real estate should be viewed as a long-term proposition, which means hotspots often fail to provide the exceptional growth buyers hope for. 
Timing is everything:
Analysis of historical sales data clearly shows that it isn’t when you buy but what you buy that’s important. Purchasing a property based on price alone is no guarantee of future growth performance. Selecting the right property with the right profile for growth will ensure property owners have an asset that performs irrespective of wider market conditions. 
Keeping up with the Joneses:
Some of the best performing properties aren’t glamorous at all. When buying property don’t be fooled into thinking the more you spend the greater the likelihood of good capital growth. In fact, buying a flashy new property or one considerably above a suburb’s median price can limit buyer demand and subsequently growth. When investing, don’t buy property that appeals to buyers’ aspirations. Buy the one that caters to the financial and social requirements of the potential tenants and buyers in the area. 
Sitting on the sidelines:
During uncertain economic times it’s common for buyers to withdraw from the marketplace in anticipation of property prices reaching the bottom. However, adopting a ‘wait and see’ attitude to buying and selling real estate can be disadvantageous. 
The reduced competition during a downturn can create good opportunity for savvy buyers. But history shows that most buyers tend to return to the market after a positive shift in sentiment, and subsequently values, has already occurred. 
Those that have bought well needn’t worry about selling in a downturn either as quality real estate assets are always in high demand. 
So don’t wait for others to make the first move. Base your decision to buy on your personal financial circumstances, not market sentiment.
Greville Pabst is CEO of the <a href="https://www.wbpproperty.com/" title="WBP Property" target="_blank">WBP Property Group</a>.
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Buying property takes more than cliches

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As the US debt crisis worsens international stock markets are taking a battering amid fears of another global recession. Wiping tens of billions of dollars off the Australian share market in only hours of news of a drop in the US credit rating, an acute nervousness has taken hold of local investors.
With share market activity volatile, investment security concerns have left many questioning their investment strategies, giving rise to the long-debated argument of bricks and mortar versus shares.
Both investment vehicles have created significant wealth for astute investors, but while there is no right or wrong answer to which is the best, there are clear fundamental differences that set them apart.
During a downturn bricks and mortar are typically a haven for investors who’ve pulled their money out of shares in reaction to negative financial market sentiment. Property offers a non-liquid, tangible asset and in most Australian capitals is underpinned by strong demand.
Whereas shares are subject to daily fluctuations, impacted by movements in the dollar, employment, interest rates, commodity prices, GDP and geopolitical factors to name just a few, property demonstrates a less volatile day-to-day proposition with a solid history of performance.
Figures show that Melbourne property values increased by 49.8% in the five years to June 2011, boasting an average annual growth of 9.95% per annum.
While an investment return of this kind may seem unremarkable to some risk-averse share market investors, it meant an annual growth of more than $55,000 in 2010 and a five-year growth of more than $230,000 for property owners whose property is on par with Melbourne’s current median house price growth trend.
Property is one of Australia’s best-performing investment vehicles. However, a sound investment portfolio typically comprises a mix of assets including shares, property and commodities and relies on expert advice from qualified professionals.
Greville Pabst is CEO of <a target="_blank" title="WBP Property Group" href="https://www.wbpproperty.com/">WBP Property Group</a>
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Property offers a stable investment in volatile times

Brisbane-based developer <a href="https://www.apartments.com.au/developers/azure">Azure</a> is has been greenlit for its $115 million residential project within the Gold Coast Health and Knowledge Precinct in Southport

Following the acquisition of the site at <a href="https://www.apartments.com.au/new-townhouses/1-clarke-street-southport-qld-4215">1 Clarke Street</a> in October 2025 with development application Lodgement in January 2026, Azure has been granted approval for the 114 terraces which will form the final stage of the wider Lumina development.

“It’s a fantastic milestone for us to receive the green light on our second Gold Coast project,” said Trent Keirnan, Founder of Azure.

“The Gold Coast continues to evolve, with demand for considered, high-quality residences at an all-time high. This project has been thoughtfully shaped to respond to that demand.

“We’ve worked closely with Economic Development Queensland to bring this project forward, and the collaboration has been both proactive and highly considered. Their shared commitment to quality housing outcomes has enabled a streamlined approvals process and a strong result for the precinct.”&nbsp;

Appealing to a wide demographic, the project will deliver a range of two- and three-storey designs comprising a collection of three-bedroom terrace homes as well as one- and two-bedroom apartment-style residences. The designs by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>&nbsp;focus on&nbsp;“urban coastalism”.

Residents will have access to an array of lifestyle amenities, including a resort-style pool with multiple lounging zones and landscaped gardens.

The residential offering will support the thriving Health and Knowledge Precinct, which includes Griffith University, Gold Coast University Hospital, Gold Coast Private Hospital and the new RDX Lumina and Proxima Towers, which are home to a range of health, education and research tenancies, including a 200-place childcare centre.

Azure aims for an off-market release for the project in the third quarter of this year, at the same time as construction is anticipated to start.

Joel Robinson

Azure approved for new townhouse development in Southport

Fortis has secured approval for a 57-room hotel at Richmond Square, marking another milestone in the delivery of the $330 million mixed-use precinct in Melbourne's inner east.

The hotel will occupy Levels 1 and 2 of Carmine House and forms part of Fortis' vision for Richmond Square, a precinct that will bring together apartments, hospitality, wellness and lifestyle offerings between Richmond and Cremorne.

Once complete, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> will comprise 107 residences across Wiltshire House and Carmine House, alongside the hotel, hospitality venues, wellness facilities and a range of services aimed at both residents and visitors.

[smartcode_project:default project_id=13181 project_image_fid=348529]

The approval adds another layer to what Fortis is creating at Richmond Square, as developers increasingly look beyond standalone apartment buildings and towards mixed-use precincts that provide amenity and activation beyond the front door.

Jordan Winada, Head of Acquisitions (Commercial) Victoria at Fortis, said the approval was an important step in delivering the broader vision for the project.

"Richmond Square has always been about creating a destination rather than simply delivering residential apartments," Winada said.

"As buyer expectations continue to evolve, we're seeing increasing demand for developments that offer convenience, connection and access to high-quality experiences and amenity as part of everyday life.

"The hotel approval allows us to further realise that vision and create a precinct where residential living is complemented by hospitality, services and amenity in a way that is rarely seen in Melbourne's CBD and city fringe."

[smartcode_project:default project_id=13181 project_image_fid=348530]

The hotel will also support a range of optional services for residents of Carmine House, including housekeeping and linen refresh programs, laundry and dry-cleaning services, in-residence food and beverage delivery, grocery and pantry stocking services, and concierge assistance.

The approval comes as owner-occupiers continue to dominate Australia's new apartment market, with buyers increasingly seeking developments that offer convenience, flexibility and lifestyle amenity alongside their homes.

Winada said buyers are now placing greater emphasis on the broader precinct and surrounding amenity when making purchasing decisions.

"Residential amenity is no longer limited to what sits within an apartment building. Buyers are increasingly assessing the broader lifestyle ecosystem surrounding their home and the ways in which a precinct can support their day-to-day needs.

"Richmond Square has been designed to provide that experience through a carefully curated mix of residential, hospitality and lifestyle offerings that work together to create a more connected way of living."

[smartcode_project:default project_id=13181 project_image_fid=348534]

The hotel is expected to open in early 2027, with the operator to be announced later this year.

Further hospitality, retail and lifestyle tenants are also expected to be revealed in the coming months as Fortis continues to shape the offering at Richmond Square.

[smartcode_project_cta:default project_id=13181]

Fortis approved for hotel component of Richmond Square precinct

Having successfully expanded into a new region with its Caloundra apartment development, Sunset by Dusk Group, growing South East Queensland developer Dusk Group is again venturing into new territory.

The developer has lodged plans for a 70-apartment project in the Moreton Bay region, to be known as <a href="https://www.apartments.com.au/new-apartments/sunrise-on-sutton-25-sutton-street-redcliffe-qld-4020">Sunrise on Sutton</a>, named after its prime Sutton Street location, just one street back from Suttons Beach.

<img alt="Sutton" data-entity-type="file" data-entity-uuid="88a9f9ee-6ace-47f5-a0c6-8fb134b27e98" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-15%20at%209.20.42%E2%80%AFAM.png?VersionId=iMXmJ7_BNZAmCt.jjupMSLdV_Qa9zJAK" />

Dusk Group Directors Huw Feeney and Anthony Short seized the opportunity to acquire the near-1,800 sqm amalgamated corner site at Sutton and Ella Streets for their first project in the area.

They have again enlisted MAS Architecture Studio, the architects behind Sunset by Dusk, to design the new eight-storey development.

The building will comprise a mix of one, two and three-bedroom apartments and has been designed to maximise views towards Suttons Beach, Margate Beach and Moreton Bay.

Pending approvals, the project could launch before the end of the year.

<img alt="Dusk" data-entity-type="file" data-entity-uuid="90c0c26c-096c-4ceb-8c58-f8303aea542f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-15%20at%209.20.49%E2%80%AFAM.png?VersionId=nw8bqQtpOrf5nA95tuYhtqdB59YUzmO0" />

The development will provide 111 car parking spaces and 40 bicycle spaces.

Positioned within walking distance of Suttons Beach, Bluewater Square, Redcliffe Hospital and the Redcliffe Paceway, the development will sit within one of the peninsula's increasingly urbanised coastal pockets.

Redcliffe's new apartment market remains exceptionally tight, with Gardner Vaughan Group's One Redcliffe currently the only new apartment development actively being marketed in the beachside suburb.

It's another beach-focused development for Dusk Group, who has seen considerable success at its Caloundra apartment development, <a href="https://www.apartments.com.au/new-apartments/sunset-by-dusk-group-caloundra-5-7-bombala-terrace-caloundra-qld-4551">Sunset by Dusk Group</a>.

Over 80 per cent of the 36 apartments have sold ahead of its early 2027 completion.

&nbsp;

First look: Dusk Group targets Suttons Beach precinct with 70-apartment Redcliffe proposal

Leading Brisbane developer <a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group (CPG)</a> has completed and settled $450 million worth of apartments at Monarch Residences in Toowong, marking one of Brisbane’s most significant and prestigious riverfront residential completions in recent years.

The final apartment at Monarch sold at auction on the 30th May for $4.1m.&nbsp;

The milestone has been marked at a ribbon-cutting ceremony at <a href="https://www.apartments.com.au/buildings/monarch-residences-toowong-600-coronation-drive-toowong-qld-4066">Monarch Residences</a>, with Cr Penny Wolff highlighting the importance of completing major residential projects to boost the city’s much-needed housing supply.

The 224 apartments, delivered across two 15-level towers, are now officially in the hands of owners, including Brisbane downsizers, families and professionals who have traded traditional houses for apartment living. The completion underscores sustained demand for absolute riverfront living in Brisbane’s inner west.

<img alt="$450M Monarch Residences sells out as Brisbane riverfront demand surges" data-entity-type="file" data-entity-uuid="56ae05e9-092f-41f0-98a1-a10984fdd171" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ROBNN_MONARCHLAUNCHEVENT-131.jpg?VersionId=p76J6weGZqseNrE6aOAjmAHUah.y65Gd" />

Monarch Residences was planned and delivered over four years on a 1.2-hectare parcel with more than 130 metres of direct frontage to the Brisbane River, occupying one of the last remaining true riverfront sites of its scale and orientation within close proximity to the CBD. The site has been transformed from an underutilised, derelict block of land, into a thriving residential precinct with Middenbury House at its centre.&nbsp;

Consolidated Properties Group CEO and Chairman Don O’Rorke says the project’s completion represents the culmination of years of careful planning, design collaboration, market conviction and outstanding team delivery.

“We announced Monarch Residences in late 2021 and it’s been one of the most strongly received residential projects in our 45-year history,” Mr O’Rorke said.

"We are incredibly grateful to the outstanding team who helped bring Monarch Residences to life. A special thank you to Hutchinson Builders and their hardworking labour force for delivering a development of exceptional quality that our residents will be proud to call home for many years to come.

“Brisbane City Council and Titles Queensland also played a huge role in getting residents into their homes early through the pilot programs they ran to speed up the approval processes. They understand the challenges of the housing industry and are doing something about it.”&nbsp;

[smartcode_project:default project_id=113455 project_image_fid=211466]

Consolidated Properties Group Head of Residential, James MacGinley said Monarch Residences showed what could be achieved when private industry and government worked together to deliver new housing for Brisbane.

“Monarch Residences has delivered more than 200 new apartments in Brisbane’s inner-west at a time when additional housing supply is critically important,” MacGinley said.

“It’s fantastic to see residents now moving into this landmark riverfront development, which reflects the strength of collaboration between Council and the project team throughout delivery.

“All government agencies played a significant hand in achieving a fast-tracked outcome for Monarch Residences with Brisbane City Council, Urban Utilities, Energex and Titles Queensland assisted to remove hurdles to achieve settlements.”

[smartcode_project:default project_id=113455 project_image_fid=302326]

With Monarch Residences now complete, CPG has launched River Living, a bespoke on-site property management service designed to enhance the resident experience. The service will support all future CPG residential projects, including the recently announced <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> in Yeerongpilly and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a> in Newstead.

The completion also marks the opening of a prized leasing opportunity at the heritage-listed Middenbury House, built in 1865 and which has been carefully restored and integrated into the broader masterplan.&nbsp;

CPG said the adaptive reuse of the landmark riverfront residence presents an opportunity to introduce a complementary boutique tenancy that respects the site’s historic significance while activating the riverfront frontage.

[smartcode_project:default project_id=113455 project_image_fid=211495]

Colliers Director of Residential Andrew Scriven said the move-in phase highlights continued demand for completed premium riverfront apartments in Brisbane.

“Residents are now experiencing firsthand the scale, craftsmanship and irreplaceable riverfront position that Monarch offers,” Scriven said.

“Opportunities to secure a brand-new, completed residence on Brisbane’s absolute riverfront are exceptionally rare. Combined with the proven track record of Consolidated Properties Group and Hutchinson Builders, combined with a design vision brought to life by some of Australia’s leading architects and designers, Monarch represents a unique opportunity to purchase a home of enduring quality and prestige.”

Monarch Residences was designed in collaboration with Melbourne-based architect Wardle Studio, alongside leading national practice Cottee Parker, with construction delivered by Hutchinson Builders.

[smartcode_project_cta:default project_id=113455]

Consolidated Properties Group sells out Monarch Residences as Brisbane riverfront demand surges

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Greville Pabst

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