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Sydney's south west area of Kingsgrove has seen an increase in the median price over the 12 months to August 2013, with PRDnationwide's research analyst, Oded Reveni-Etzioni, saying that the area is becoming desirable for home buyers.
Reveni-Etzioni, speaking about the increase, said it is particularly attractive to home buyers and young professionals focusing on the middle ring suburbia, with strong rail and road infrastructure and retail and recreational facilities.
"There's very spirited competition between home buyers over limited listings in Kingsgrove," he said.
"A number of buyers are priced out of Sydney's Inner West, which has led to more interest in middle ring locations. However, the demand is exceeding the stock available for purchase and this shortage is promoting a price war situation at auction where feverish bidding has resulted in record prices."
Within the area, Beverly Hills and Roselands were said to be the "star performers", with transaction increases of 43% each, and median price rises of 4%. Within the $800,000 to $899,999, transactions increased the most, accounting for 20% of all sales.
Asian buyers are also expressing interest in the area, said PRDnationwide Kingsgrove Principal, Frank Mazzotta.
"We are seeing an increase in buyers coming across from the inner west and the east of Sydney, chasing more value for their money in Kingsgrove and the surrounding suburbs," Mazzotta said.
"There's been a notable surge in interest from Asian buyers due to excellent public transport infrastructure and facilities in the area. The ease of access to rail services and road links into the city is proving to be an attractive point of difference between Kingsgrove and other middle-ring locations."
<a href="mailto:jduke@propertyobserver.com.au" target="_blank"></a><a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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jduke-EHk3XBmHkn

Kingsgrove area sees price climb

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Proposed changes by the federal government look set to allow people to become real estate agents in just two weeks, with limited training.
Saying that the proposed changes are laughable, and asking for vendors to keep the industry accountable by choosing high performing agents, Real Estate Results’ Michael Sheargold said he is concerned.  
“Ultimately, it will make it easier for shonky operators to work within the industry and ultimately affect the outcome for both vendors and buyers nationwide,” said Sheargold.  
“A consistent real estate training framework is essential for the industry to improve its overall reputation and most importantly, its results.”  
He noted his fears that the lack of training is giving the industry a bad name, saying that some agents wait for easier market conditions and vendors desperate to sell.  
“Those involved in the ever-changing real estate industry should always be looking for ways to improve their skills to be ahead of the game and provide their clients with the highest level of professionalism,” he said.  
He points to the list of questions below as one way to help choose the best agent.  
“If the agent doesn’t answer these questions to your satisfaction, don’t give them your listing. Find a top quality agent that keeps up to date with new real estate industry training, is a fully skilled negotiator as well as a sales and marketing expert,” he said.  
Top 5 questions you should ask a real estate agent: 
<ol start="1">
<li>
What is your track record selling this type of property in this market?
</li>
<li>
What training have you completed in the last three months?
</li>
<li>
Can I please have a list of 5 recent clients that I can call?
</li>
<li>
How do you stay up to date with the property market?
</li>
<li>
Please explain your overall service philosophy?
</li>
</ol>
Source: Michael Sheargold
<a href="mailto:jduke@propertyobserver.com.au" target="_blank"></a><a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a> 
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May take just two weeks to be qualified real estate agent

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ASIC has banned former mortgage broker Catherine 'Kate' Anne Thompson of Mortgage Miracles Pty Ltd after she defrauded 24 investors of more than $4 million, leading to a five year and one month sentence in prison.
Thompson was convicted of stealing and, in three years and one month, will be eligible for parole. She is also expected to pay compensation to the victims.
Formerly of Canning Vale, WA, 53-year-old Thompson, between 2007 and 2008, managed to convince clients, including friends and members of her church, to part with hundreds of thousands of dollars for an investment scheme.
Having been a mortgage/finance broker from 2000 to 2008, and director of Mortgage Miracles, a company she set up, she was later investigated by WA Police.
ASIC's deputy chairman, Peter Kell, said that those working in the credit industry are expected to practice with high standards of honesty and integrity.
"Ms Thompson’s conduct fell well short of those standards, showing a persistent pattern of lying to people who trusted and relied on her," said Kell.
"This banning means that Ms Thompson cannot re-enter the credit and finance industry."
Thompson has the right of appeal to the Administrative Appeals Tribunal.
Property Observer has <a href="/news">previously discussed the 2007 WA mortgage broker of the year</a> when looking at Denise Bradley's thoughts about the banks' 'negligent and reckless' behaviour with low-doc loans.
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a>
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WA broker defrauds investors, given prison sentence

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With Australian house prices so high, it comes as a fascination how cheaply properties around the world can be sold off for – even at prices as low as $1, £1 and so on.
Here, we take a look at the properties marketed for tiny monetary amounts and the schemes that created them. We do warn that not all present good buying opportunities, and anything that seems to be too good to be true, as the mantra goes, usually is.
Detroit, USA
There are currently three properties <a target="_blank" href="https://www.realtor.com/realestateandhomes-search/Detroit_MI/price-na-1?source=web">on the market for $1 in Michigan’s Detroit</a>. The multi-level family homes are often boarded up in the pictures, and while there are a <a target="_blank" href="https://www.propertyobserver.com.au/overseas/the-pros-and-cons-of-investing-in-us-residential-property/2012021953437">number of pros and cons to buying US properties</a> - they're largely avoided in Detroit by Australian investors.
Take this <a href="https://www.realtor.com/realestateandhomes-detail/4700-Saint-Clair-St_Detroit_MI_48214_M38708-00499?row=3&amp;source=web#modal_PhotoGallery" target="_parent">four-bedroom, 2,248 square foot house</a> on a total 3,485 square foot lot from 1915.
<img width="460" height="343" src="/images/stories/2013/11/18/detroit_nov_18.jpg" alt="detroit_nov_18"><a href="https://www.realtor.com/realestateandhomes-detail/4700-Saint-Clair-St_Detroit_MI_48214_M38708-00499?row=3&amp;source=web"></a>
Or, this <a href="https://www.realtor.com/realestateandhomes-detail/13996-Indiana-St_Detroit_MI_48238_M31190-40418?row=1&amp;ex=MI552916737&amp;source=web" target="_blank">three-bedroom two car garage home</a> with a broken porch that looks somewhat burnt out.
<img width="459" height="344" src="/images/stories/2013/11/18/detroit_nov_18_two.jpg" alt="detroit_nov_18_two"><a href="https://www.realtor.com/realestateandhomes-detail/13996-Indiana-St_Detroit_MI_48238_M31190-40418?row=1&amp;ex=MI552916737&amp;source=web"></a>
<a href="https://www.realtor.com/realestateandhomes-detail/8096-Georgia-St_Detroit_MI_48213_M45096-12765?row=2&amp;source=web" target="_blank">This one</a> doesn’t appear to have a roof and includes the following description “Property being sold AS IS. $1000 minimum commission plus an additional $500 to Buyers Agent if closed by 12-31-13.”
<a href="https://www.realtor.com/realestateandhomes-detail/8096-Georgia-St_Detroit_MI_48213_M45096-12765?row=2&amp;source=we" target="_blank"><img width="320" height="240" src="/images/stories/2013/11/18/detroit_nov_18_three.jpg" alt="detroit_nov_18_three" style="display: block; margin-left: auto; margin-right: auto;"></a>
 
Gary, USA
<img width="470" height="264" src="/images/stories/2013/11/18/gary_nov_18_one.jpg" alt="gary_nov_18_one" style="font-size: 0.8em;">
Photo courtesy of CNN Money.
After owners fell behind on property taxes, the city purchased the properties and <a href="https://money.cnn.com/2013/08/20/real_estate/dollar-homes/" target="_blank">decided to on-sell them for $1</a> in an attempt to stabilise the neighbourhood.
With 12 for sale in June, 400 buyers were interested. Buyers must have lived in Gary for six months minimum, have $1,000 in savings, earn a minimum of 80% of the area’s median annual income and renovate the property. They must not own property elsewhere, and must live in the home for five years.
A random drawing of those who passed the criterion (just 25 of the 400 interested) occurred.
The mayor noted that if this succeeded, up to 50 properties per annum could be sold through this scheme.
Liverpool, United Kingdom
{qtube vid:=jC2PML4iK6A}
The <a href="https://www.ibtimes.co.uk/articles/438372/20130222/kensington-liverpool-1-houses-homes-granby-triangle.htm" target="_blank">Homes for a pound scheme</a> received over 1,000 applications in England’s Liverpool, requiring the final allocation being done via ‘lucky draw’ for the 20 properties available located across the Granby Traingle Four Streets. This may be the first of a number of similar draws, with 179 properties in total requiring rejuvenation.
Those who purchased the properties are required to live in them for a minimum of five years and not sub-let the properties. Refurbishments of the properties to meet the ‘Decent Homes Standard’ is also required, with expectations that it will cost in excess of £35,000 per home.
Owners will also be unable to live in the property while the renovations are underway, with estimates of about 12 months’ worth of work.
Many of the Victorian terraces were originally bought for £70,000.
This <a href="https://liverpool.gov.uk/housing/homes-for-a-pound/" target="_blank">scheme </a>was only available to those living and working in Liverpool at the time.
Stoke-on-Trent, United Kingdom
{qtube vid:=wdM78OmGWng}
Cobridge in Stoke-on-Trent had 35 <a href="https://www.dailymail.co.uk/news/article-2313510/Mad-scramble-buy-35-houses-Stoke-Trent-sale-just-ONE-POUND" target="_blank">two- and three-bedroom homes</a> with backyards put up by council for £1 – along with a low interest loan for a £30,000 renovation.
The £3 million council and government-funded scheme saw more than 600 people apply, with only 75 fitting the criteria.
Buyers must renovate first, and live in the property for five years before selling. They must have lived in the city for three years, have been employed for the last two, and have a joint income of £18,000 to £25,000 per annum, or up to £30,000 with children.
They must not own other property.
If the house is sold within 10 years, then they may find themselves required to pay a proportion of any profit to the council on a sliding scale.
Salemi, Italy
<img width="470" height="354" src="/images/stories/2013/11/18/sicily-nov-18.jpg" alt="sicily-nov-18"><a href="https://content.yudu.com/Library/A1n7au/salemi1eurohouseprop/resources/index.htm?referrerUrl=http%3A%2F%2Fwww.google.com.au%2Furl%3Fsa%3Dt%26rct%3Dj%26q%3D%26esrc%3Ds%26source%3Dweb%26cd%3D2%26ved%3D0CDAQFjAB%26url%3Dhttp%253A%252F%252Fcontent.yudu.com%252FLibrary%252FA1n7au%252Fsalemi1eurohouseprop%252F%26ei%3DCk-JUvDlJc-ZiQf7nIHwAg%26usg%3DAFQjCNEbzdvIOgTIstjnEHumtHOz1UBtAQ%26sig2%3DbBwSqHqxKkH0roJvz8uM-w%26bvm%3Dbv.56643336%2Cd.dGI"></a>
Offering historical properties for €1 in 2008 in Sicily’s Salemi, an area said to have “mafia connections,” the mayor told The Independent that he’d had over 6,000 enquiries.
The properties would require a €20,000 spend to knock them into shape, having largely been abandoned for 40 years and being earthquake damaged. Some of those requiring more extensive work could have required up to €150,000, a <a target="_blank" href="https://content.yudu.com/Library/A1n7au/salemi1eurohouseprop/resources/index.htm?referrerUrl=http%3A%2F%2Fwww.google.com.au%2Furl%3Fsa%3Dt%26rct%3Dj%26q%3D%26esrc%3Ds%26source%3Dweb%26cd%3D2%26ved%3D0CDAQFjAB%26url%3Dhttp%253A%252F%252Fcontent.yudu.com%252FLibrary%252FA1n7au%252Fsalemi1eurohouseprop%252F%26ei%3DCk-JUvDlJc-ZiQf7nIHwAg%26usg%3DAFQjCNEbzdvIOgTIstjnEHumtHOz1UBtAQ%26sig2%3DbBwSqHqxKkH0roJvz8uM-w%26bvm%3Dbv.56643336%2Cd.dGI">pamphlet from Moss Italian Property Consultants warned</a>.
Many needed complete rebuilding to bring them in line with local building regulations.
Rhône-Alpes, France
<img width="470" height="330" src="/images/stories/2013/11/18/fance_nov_18.jpg" alt="fance_nov_18"><a href="https://izismile.com/2013/02/02/house_selling_for_the_bargain_price_of_1_5_pics"></a>
Photo courtesy of eBay
A ‘haunted house’ was auctioned off on eBay for just €1 in the French town of Arbresle. The 110 square metre property had the owner telling those who didn’t believe it was haunted to refrain from contacting her. Listed in January this year by Maud69620, a 1950s murder is apparently behind the hauntings.
Across Australia
We couldn't find anything in inner-city Sydney, sadly, but properties for $1 in Australia are not completely unheard of.
In Queensland's Richmond, in May, four 800 square metre blocks were sold in a <a target="_blank" href="https://www.propertyobserver.com.au/https://www.richmond.qld.gov.au/home/-/journal_content/56/17480/10136205?p_p_auth=KGs1IrzX">"buck for a block" ballot</a>.
More than 3,000 registered their interest - with the only condition being a letter of credit from a bank to build within two years' time.
The town undertook the same scheme in 2008, with four blocks again. At the time, 300 people applied.
The <a target="_blank" href="https://www.northqueenslandregister.com.au/news/agriculture/agribusiness/general-news/1-land-grab-drives-frenzy-in-richmond/2628222.aspx">North Queensland Register noted the response</a> to the scheme was that of a 'frenzy'.
Tennant Creek in the Northern Territory also saw a <a href="https://www.abc.net.au/pm/content/2004/s1220356.htm" target="_blank">young couple attempt to sell off their block for $1</a>, reported the ABC in 2004.
And $1 a week in rent has also not been entirely unhead of.
Whether it's Cumnock's <a target="_blank" href="https://www.rentafarmhouse.com.au/">Rent A Farm House scheme</a>, or Levendale, Tasmania's bid to save their school by asking renters with children to move in, it has been seen.
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Cheap buys, but are they bargains? The houses that sold for $1

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The New South Wales government, along with the City of Newcastle council, have launched an expression of interest campaign for the redevelopment of the Empire Hotel site, on Hunter Street West.
Parliamentary Secretary for Regional Planning, Craig Baumann, said that the NSW government has committed over $580 million to the renewal of Newcastle. These funds included a courthouse, University city campus and proposed lease of the Port.
“This affordable housing project is possible because the property industry is prepared to invest in the Newcastle CBD and be part of that NSW Government backed revitalisation,” said Baumann.
Newcastle’s Lord Mayor Jeff McCloy said that the Council’s contribution would amount to $2.9 million from the Building Better Cities trust fund. This fund is for the supply of affordable housing.
“This project will not only help to transform a previously run-down site in Hunter Street, it will also bring people into the city centre, helping to activate it,’’ McCloy said.
“The 2,000 square metre site’s zoning allows residential, commercial, hotel or mixed-use development, making it an attractive development opportunity.”
Those who wish to develop the site are encouraged to express interest, up until the 10 January 2014. Contract exchange should happen early next year.
A minimum of 17 studios or one-bedroom units will be required, with the number of two-bedroom dwellings to undergo discussion during negotiation phase.
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Newcastle seeks affordable housing developer for Empire Hotel site

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Discussing the recent changes to the New South Wales strata model by-laws, Sydney law firm Owen Hodge Lawyers pointed to some of the difficulties of strata environments including predatory and bullying behaviour.
Managing partner at Owen Hodge Lawyers, Rolf Howard, said that strata laws need to be considered to tackle some of the less favourable aspects of strata living.
“Many lawyers act for individuals involved in neighbourhood disputes. Those involving strata environments are by definition more hotly contested. Strata environments can often create predatory, bullying and stalking type activities which in my opinion also need to be addressed in strata laws as well as building design to minimize these increasingly common types of complaints,” said Howard.
He noted that with the population increasing, and more being driven towards high-density lifestyles, these issues may increase.
“Australia is yet to experience the significant strata law issues which higher apartment density cities such as Shanghai and Hong Kong currently experience. Potentially more issues could arise in the future as the population and density levels within Sydney’s inner city perimeter increase.
“In the future developers building densely populated towers will need to carefully consider designs that strategically address noise and safety issues as a means of minimising complaints,” he said.
One example of the law changing for the better, he noted, is around the recent strata model by-law changes surrounding pets in residential buildings.
Recent changes to the NSW strata model by-law surrounding the acceptance of pets in residential buildings is set to give apartment owners more certainty and potentially increase the number of animals that are currently living in these buildings.
Not only have investors been given clarity, but tenants also.
“These new laws provide further clarity for pet owners in strata properties and the use of premises, such as parks, surrounding the buildings. This certainty also facilitates diversity between strata properties. Body corporates still have the power to set their site specific rules, however they need to obtain a consensus from other owners regarding this issue,” said Howard.
Five things to consider when purchasing strata-titled apartment buildings:
1. When buying off the plan consider the type of tenant that might be attracted to the property. Do not rely on the messages conveyed in glossy advertising.  Low socio-economic areas can attract problem clients.
2. Review a copy of past body corporate minutes. Purchasers need to look at the money available in the sinking fund, the investment in maintenance as well as potential future structural/maintenance costs. Can the sinking fund cover them?
3. Consider if the property is in a position that is likely to lease easily during an economic downturn. What are the unique characteristics that will attract tenants?
4 Number crunch to determine if the property will generate a yield which is sufficient and appropriate for the risk involved. Direct property investment can be very rewarding however, for some investors, it reflects a significant investment in just one asset class.
5. Seek the advice of an accountant, lawyer and mortgage adviser regarding property and mortgage structures to ensure your money is working to your advantage. 
Source: Owen Hodge Lawyers
<a target="_blank" href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.a</a><a target="_blank" href="mailto:jduke@propertyobserver.com.au">u</a> 
 
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Strata can lead to predatory, bullying and stalking-type activity: Owen Hodge Lawyers

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With first home buyers' apparent low numbers, RateCity has said that it's the First Home Saver Account Scheme that needs urgent looking at.
The government program, launched in 2008 by Kevin Rudd, was predicted to help hundreds of thousands of future home buyers. However, statistics from the Australian Prudential Regulation Authority show that $491 million is held in 45,000 First Home Saver Accounts as of June 2013.
CEO of RateCity, Alex Parsons, said that there are a number of things the government could be doing to improve the scheme.
“Right now, only nine institutions offer these accounts – and despite some offering them in the past, none of the big four banks currently do, so it’s little surprise that many potential buyers haven’t heard of them, and don’t use them,” said Parsons.
“It’s a way for banks to support real saving initiatives for first home buyers – and any scheme that helps would-be buyers to build a larger deposit should be encouraged."
RateCity data points to the average base interest rate being paid on these accounts being 2.54%.
A number of conditions are in place, including that a $1,000 minimum deposit must be reached yearly for four financial years before you can withdraw. The account's balance is capped at $90,000.
“The fact that the major banks have stopped offering the products suggests that they are not attractive enough to the mainstream market to be viable in their current form,” said Parsons.
“A relaxation of some of the conditions, aided by some smart and effective marketing by the government may breathe life back into what is essentially a great idea to encourage responsible borrowing.”
<a href="mailto:jduke@propertyobserver.com.au" target="_parent">jduke@propertyobserver.com.au</a>
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Calls for urgent revision of First Home Saver Account Scheme

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Former director of property developer Ocean Key Holdings Limited, now defunct, has been found guilty of stealing in excess of $820,000, according to ASIC.
The former director, Neil James Duckworth, of Mindarie, Western Australia, was accused of using money borrowed by Ocean Key Holdings Limited secured against land owned by the company to pay for personal and other unrelated expenses in October 2007.
Property Observer reported in <a target="_blank" href="https://www.propertyobserver.com.au/industry-news/former-ocean-keys-director-neil-duckworth-faces-22-charges-of-stealing/2011121252800">December 2011 of Duckworth facing charges</a>.
Duckworth, of Duncraig, Western Australia, was charged with 22 counts of stealing as a director of the company.
A four-week trial in the Perth District Court, a jury found Duckworth guilty on 20 counts yesterday. Each of the charges carries a maximum penalty of 10 years' imprisonment.
It was prosecuted by the Commonwealth Director of Public Prosecutions.
He will return to Perth District Court on Friday 20 December 2013 for his sentencing hearing.
ASIC commissioner John Price said that directors are important gatekeepers in Australia's financial system.
"ASIC expects them to act honestly, take their responsibilities seriously and discharge their duties carefully," said Price.
Ocean Key Holdings was <a target="_blank" href="https://www.search.asic.gov.au/cgi-bin/gns030c?acn=110221960&amp;juris=9&amp;hdtext=ACN&amp;srchsrc=1">deregistered by ASIC in 2010</a>, it was also known as Ocean Keys.
ASIC records note that in 2006 an Offer Information Statement was used, seeking to raise $5 million from the public to undertake a subdivision and sale of land purchased by the company. The land, in WA's Lancelin, was never subdivided and no progress was made. The land had been mortgaged, with the funds used by Duckworth for largely unrelated purposes.
The funds have not been repaid.
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Defunct developer's director found guilty of stealing $820,000

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Those who own units and apartments, and who want the National Broadband Network fibre, may be looking at tens of thousands of dollars per complex under the revised network, Archers Body Corporate Management warns.
With the NBN on hold last month as the government reviewed the network, Archers’ senior body corporate manager, Michael Ryall, said the biggest concern currently being expressed by unit owners is the uncertainty of the results should they want NBN connection. He estimates up to 900,000 could be up for costs if they want FTTP connections, should these changes be made.
Currently, there is no study to determine precisely what the costs will be. However, Ryall notes it may be similar to that of Foxtel infrastructure – costing in excess of $10,000 per complex for medium to large buildings.
Under the previous plan, all unit owners would have received the full FTTP connection. Under the new proposal, they will only receive a fibre connection to the complex – leaving owners to pay for their individual connection.
Contracts signed or with detailed work underway are exempt from this change.
“At this point NBN Co cannot advise exactly what the future policy or costs will be only that the current policy is under review,” Ryall said.
"Under the Coalition’s proposal there will be two options for unit owners that have not already had NBN infrastructure installed in their buildings and want full FTTP connection, neither of which will be cheap,” he warned.
He said that the first thing unit owners should be doing is heading to the <a href="https://www.nbnco.com.au" target="_blank">NBN Co website</a>, to see whether you are in an NBN area.
“If you are in an area where the NBN rollout has not yet begun and you would like FTTP, the current Coalition policy is that each unit owner must pay to have cables connected from the complex connection to their unit or the body corporate or owners corporation could install a new backbone through the building, which will accommodate cables leading to multiple units,” he explained.
“Ask around first to see whether any fellow unit owners are keen for FTTP, because if there are a few units interested in going ahead, it is more cost effective for the body corporate to install a new backbone.”
The cost will depend on size, levels, number of units and existing infrastructure, with older strata title buildings expected to cost more – with some needing additional ducts to run fibre through.
<a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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900,000 premises may need to foot bill under NBN revision: Archers

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When Property Observer journalist Nicola Trotman came back from a CBRE event this week, she told us that there was a buyer who, speaking poor English, was upset about being 'misled' by an article he had read in the media.
<blockquote class="twitter-tweet">
Any questions for the panel? We have Lord Mayor, cbre, PWC and king &amp; wood mallesons <a target="_blank" href="https://twitter.com/search?q=%23cbreseminar&amp;src=hash">#cbreseminar</a> <a target="_blank" href="https://twitter.com/search?q=%23propertyobserving&amp;src=hash">#propertyobserving</a>
— Nicola Trotman (@NicolaKTrotman) <a target="_parent" href="https://www.propertyobserver.com.au/https://twitter.com/NicolaKTrotman/statuses/400428102393679872">November 13, 2013</a>
</blockquote>
He told everyone there that he had bought a development opportunity block in Fisherman's Bend believing that he could develop it to an "unlimited height". That, in fact, there are no restrictions.
The Lord Mayor Robert Doyle, who was in attendance, quickly told him he had been misinformed. Angrily, he said he had read it in an article.
This had us all thinking. There's misinformation rife on the internet, in print and in the industry generally, however there's also always the chance that someone will misunderstand the information that is presented. We don't know the article he necessarily read - however, we've had our guesses from what we've read in the past.
This brings it back to always double checking the information you're reading and, if it sounds too good to be true, or unusual (as in the case of 'unlimited' anything, we've found), then asking more questions. We're also letting you ask questions of us. From now on, we'll endeavour to include our email addresses at the bottom of the stories we write. Each of our journalists welcomes queries from readers, and any extra information is also very useful for us.
Sometimes, we actually find that articles themselves come out of misinformation and confusion around numbers themselves. If you think this has been the case anywhere online, that you think there's misunderstandings happening on forums or similar, let us know and we'll do our best to clear up the confusion.
One of our more recent articles, about <a href="https://www.propertyobserver.com.au/landlords/how-much-of-your-property-education-is-actually-tax-deductible/2013111366350?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus" target="_blank">what you can actually claim as a tax deduction</a>, came out of noticing a similar confusion. I've heard many times, particularly over the past few months, that you can claim seminar tickets as deductions when you buy a property. This isn't quite true - it's a little more nuanced that you might think.
Part of our function as a property news site, is to straight out report and give you what is happening, while it's happening. But it's also to listen to you and give you the coverage of what matters - such as the suburbs you've been emailing to us, with requests about what is going on there. We also want to open up what happens behind the scenes here.
As you can see in the tweet at the top of this post, we're asking you to join in with the dialogue, bringing in the burning questions that you have as well. Keep an eye on the <a href="https://www.propertyobserver.com.au/trends/hashtag-of-the-day-propertyobserving/2013090964907" target="_blank">#propertyobserving</a> hashtag to see where our reporters are, who they're speaking to, and feel free to use it yourself! We're keen to read about your own adventures observing property, or renovating, or just your thoughts. Share with us your concerns, misunderstandings you may have, and what you want us to cover. Our request for <a href="https://www.propertyobserver.com.au/news/suburb-spotlight-not-all-gloom-and-doom-for-geelong/2013102966017" target="_blank">t</a><a href="https://www.propertyobserver.com.au/news/suburb-spotlight-not-all-gloom-and-doom-for-geelong/2013102966017" target="_blank">his Geelong suburb report </a>came from a tweet. We read every reader email, and are more than happy to take the time to respond to you.
<blockquote class="twitter-tweet">
One for sale around Sandy Bay.... Gorgeous area, wonder how much will sell for? <a href="https://twitter.com/search?q=%23propertyobserving&amp;src=hash" target="_blank">#propertyobserving</a> <a href="https://twitter.com/propertyobs" target="_blank">@propertyobs</a> <a href="https://t.co/YP4IVD7g84" target="_blank">pic.twitter.com/YP4IVD7g84</a>
— Jennifer Duke (@JennieDuke) <a href="https://www.propertyobserver.com.au/https://twitter.com/JennieDuke/statuses/396812276541313024" target="_blank">November 3, 2013</a>
</blockquote>
<blockquote class="twitter-tweet">
107 Richardson St. Albert park sold at auction today for $2.93m big result for DF Victorian <a href="https://twitter.com/search?q=%23propertyobserving&amp;src=hash" target="_blank">#propertyobserving</a> <a href="https://t.co/cxJgyC3c8q" target="_blank">pic.twitter.com/cxJgyC3c8q</a>
— greville pabst (@grevillep) <a href="https://www.propertyobserver.com.au/https://twitter.com/grevillep/statuses/393968412365307904" target="_blank">October 26, 2013</a>
</blockquote>
<blockquote class="twitter-tweet">
<a href="https://twitter.com/CCASHMORE_BUYER" target="_blank">@CCASHMORE_BUYER</a> reader was just asking about Geelong - outlook? <a href="https://twitter.com/tnicopoulos" target="_blank">@tnicopoulos</a>
— Jennifer Duke (@JennieDuke) <a href="https://www.propertyobserver.com.au/https://twitter.com/JennieDuke/statuses/392939007551623169" target="_blank">October 23, 2013</a>
</blockquote>
 <a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
 
 
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Letter from the editor: Misunderstandings lead to bad decisions

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Jennifer Duke

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