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Moving into retirement villages is said to be becoming easier due to a NSW government change to the Retirement Villages Amendment (standard contract) Regulation 2013 this month, and will be alike to buying and selling a home.
Owen Hodge Lawyers' Elder Law specialist, James Kelly, said that the legislative changes are welcome for consumers.
"The changes will make the transaction of moving into a retirement village more like buying and selling your home," said Kelly.
"The biggest amendments to these current reforms are the introduction of a standard village contract and disclosure document in addition to a general inquiry document.”
In the past, he noted that documentation had been very lengthy - even up to 300 pages with complex legal arrangements.
"I have seen many seniors over the years struggle to understand the complex nature of the subject matter and in some cases sign contacts without understanding what they are signing," he said.
The reformation of the retirement village law is seeing a shift towards a consumer focus. He notes that this was necessary to ensure that the seniors understood the legal ramifications of what they had been signing.
Several questions and tips which should be asked prior to moving into retirement villages include:
1.	Do not make a decision to move to any retirement village before doing your homework/research first to explore the various options that are available to you. Questions to ask - why are you moving? What options are available in the area you are considering?
2.	Can I afford to live at the retirement village? What are the ongoing fees and how are they determined each year?
3.	What is the financial position at the village? Is there a history of deficits or surpluses in the retirement village budget. How much are the departure fees, commission and other expenses when you leave?
4.	Have you spoken to your family and your doctor and other support people about a move possibly from an area where you have lived for a long time to where you are not so familiar?
5.	Have you spoken to your lawyer about the legal issues around such a move before signing the contract? What are your obligations and what obligations does the operator have to you? Does the operator have a mortgage on a property where the village is located and if so what are the implications for you?
6.	Is there a history of disputes between the residents and the operator of the village?
7.	Is ongoing care available ie aged care if and when you need it?
Source: Owen Hodge Lawyers
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Under new law retirement village move to be like transacting a home: Owen Hodge

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Yesterday, the minister for NSW Fair Trading, Anthony Roberts, announced new safety laws for New South Wales owners corporations to help prevent child falls from residential strata buildings.
Investors and owners will want to take note of new laws passed through Parliament that will legally require a new type of safety device to be installed on windows.
"Owners corporations must have window safety devices installed above the ground floor that allow windows to open no more than 12.5cm when the lock is engaged,” Roberts said. 
"Residents will still be able to open their windows as they do now, however they will have the security of knowing that when the lock is engaged, children in their care will be protected." In 2011 to 2012, 39 children aged nine or younger were hospitalised in New South Wales due to window falls.
"There are over 72,000 strata schemes in NSW with an average of five new schemes registered each day, accounting for more than 600,000 residential lots," he said.
Despite the mentioned urgency of the situation, there is no quick deadline looming. Owners corporations will have until 13 March 2018 to install the devices. 
"Individual strata schemes may only meet once a year, that means in the next four years members must agree on a course of action, fund its implementation, complete a risk assessment on all windows and then have devices installed."
Roberts noted that the locks are relatively inexpensive and can be easily installed by anyone, however it is crucial they are correctly fitted.
He urged owners corporations to act as quickly as possible.
Similar laws previously introduced in New York resulted in a 96% decrease in hospitalisations due to falls from similar situations, according to Australian Medical Association NSW president, Brian Owler.
"Such legislation is unprecedented in Australia and I encourage the other states to follow suit," Owler said.
Owners Corporation Network chair, Stephen Goddard, said this was a necessary step.
"The Owners Corporation Network supports any action the Government takes to reverse the threat to life and safety from any amenity in a strata scheme,” Goddard said. 
Brochures are currently being sent to real estate agents, strata managers, community housing providers and new tenants by NSW Fair Trading.
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New NSW owners corporation laws announced

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With Leighton Properties acquiring prominent Hall Street site for $23 million, Melbourne's Moonee Ponds has been earmarked for a major residential redevelopment.
The site has five titles and six feet frontages, and is 1.339 hectares.
The boundaries of the site are 40 Hall Street, 34-36 Margaret Street and 56-62 Aspen Street.
The sale was conducted by CBRE's Scott Orchard, Justin Clarkson and Ari Petrovs, with Colliers' Peter Bremner and Jeremy Gruzewski, on behalf of vendor Reading Entertainment.
There are plans for a residential, and retail, development of up to 16 levels in height.
"This landmark development will help transform the suburb of Moonee Ponds into a thriving community just 6.5 kilometres from the CBD," Clarkson said.
Currently the site is used as a car park.
The site, which was the former home of the Moonee Ponds market, is currently used for car parking purposes.
"Very rarely does a site of this size present itself with such extensive possibilities to deliver a landmark mixed use project of exceptional scale and town-centre prominence," Orchard said.
"The surrounding public transport and retail amenities, which include Moonee Ponds train station, a major bus interchange and tram line, Puckle Street retail strip and Moonee Ponds Central Shopping Centre, will ensure the success of a high density, mixed-use development on this site."
The site was identified as suitable and preferred location for high density and highrise development within the Moonee Ponds Activity Centre Structure Plan.
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Car park to be turned into 16 storey site at Moonee Ponds

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The increasing interest from offshore Asian buyers, and largely Chinese buyers, has been attracting a lot of attention. Not only are real estate agencies expanding out to these areas, but Chinese-language news outlets and online portals specialising in property are going from strength to strength.
It's interesting then, that many are restricted by certain types of rules and regulations. Property Observer set out to find specifically what stock these buyers can purchase, and what they're looking for.
Australian Property Monitors' Andrew Wilson points out a few major points that are of interest to Chinese buyers.
Firstly, he says, it's a case of replacing the 'location, location, location' mantra with "good schools, good schools and good schools."
Linked to this, they look for highly established quiet to upper-mid price range neighbourhoods, as well as those with "cultural connections". For Sydneysiders, this may mean a suburb such as <a href="/news">Ashfield</a>.
Value is then the final most important consideration.
The categories of buyer
However, we must be wary when categorising all Chinese investors together. Just as resident buyers do not fall into any one strict category, there are a number of buyer-types here also.
Andrew Taylor, co-CEO of <a href="https://Juwai.com" target="_blank">Juwai.com</a>, a listings portal for Chinese buyers to find international property, helped us categorise the buyers into these three segments.
He explains that they classify offshore Chinese buyers into four distinct categories, based on net worth.
1.    Extremely high net worth: Those seeking prime properties, from $5 to $50 million in value. Usually for immigration or as secondary residence. These buyers are fewer in number, but account for a significant dollar amount of total investment.
A typical investment for this type of buyer, may look like a $6.5 million listing they had of a property on Wategos Beach, Byron Bay.
2.    High net worth: Those seeking luxury properties, from $1.5 to $5 million.
3.    Upper middle class: Those seeking properties from $750,000 to $1.5 million. The greatest number are in the $1.2 to $1.5 million range.
4.    Middle class: Those seeking properties from $250,000 to $750,000. The greatest number of these buyers are in the $500,000 to $650,000 range.
He points to the top reasons for buying, across the categories, being for reasons of education, migration and investment diversification. Often, all three are combined.
This may be a buyer purchasing an investment property and renting it out, until a few years later their children live in it to study in Australia, with the entire family staying when they visit.
"Then, perhaps one day, they immigrate to Australia and retire to the home," says Taylor.
In fact, Chinese buyers can <a target="_blank" href="https://www.propertyobserver.com.au/residential/understanding-chinese-property-buyers-and-sellers/2012012653148">also differ in their buying needs and wants due to their ethnicity</a>.
OH Property Group's Oliver Stier pointed to the following points:
- They like full-brick homes (as opposed to brick veneer, weatherboard or fibro – unless they plan to knock it down).
- They like rectangular-shaped land.
- They generally would prefer not to have a swimming pool. Swimming is not a big part of the Chinese upbringing and many Chinese-born children don’t know how to swim. Therefore a swimming pool is seen to be more a danger and a chore than a source of pleasure.
- They like level and clear land with not too many trees (especially protected species such as gum trees, which are not always possible to remove).
- They like low-maintenance properties (e.g. paved backyard as opposed to cottage-style garden).
- They prefer high side of the street and generally dislike properties that have an entrance below street level.
- They have a preference for newer properties and less of an appreciation for older-style features such as an ornate ceiling or picture rails, etc. Therefore, a heritage-listed property usually does not appeal to Chinese buyers.
- Position is important, and many Chinese buyers will not want to purchase properties that are at a T-junction, for example.
- Aspect is also important, and Chinese buyers typically prefer morning sun than afternoon sun.
- Some feng shui-related features are important.
A window into Chinese buyers' thoughts
If you're interested in understanding the Chinese buyer, look no further than the Chinese developers, says Taylor. Particularly those who are developing in Australia, as often this is to attract Chinese investors.
“I had dinner with two small Chinese developers this week, both with projects worth around $65 million. They just purchased several blocks of land on the coast in Queensland and New South Wales. Their requirements are that the land be close to schools or close to good hospitals. Their target market is investors, especially Chinese investors, who will rent out to locals," he says.
In December, he wrote  for Property Observer <a target="_blank" href="/news">four tips for those looking to sell their property to Chinese buyers</a>.
We've also recently written about <a target="_blank" href="https://www.propertyobserver.com.au/news/marketing-your-property-to-chinese-buyers/2013092465226">marketing your property to Chinese buyers</a>.
Which cities are seeing interest?
Measuring activity on Juwai.com, comparing January and August 2013 (including page views, searches, search results and enquiries) the following trends emerge.
China’s Top Aussie Cities 1. Sydney 2. Brisbane 3. Melbourne 4. Gold Coast 5. Adelaide  
China’s Fasting Growing Aussie Cities 1. Melbourne 2. Perth 3. Mandurah, WA 4. Launceston, Tasmania 5. Canberra 6. Adelaide  
Source: Juwai.com
This week, Century 21 Australia and New Zealand chairman, Charles Tarbey, mentioned to Property Observer that <a href="https://www.propertyobserver.com.au/news/lack-of-stock-behind-price-rises-exclusive-interview-with-charles-tarbey/2013102365923" target="_blank">Adelaide has been starting to market developments to Chinese buyers </a>more heavily.
Next page: Chinese Australian buyers and the changing wants of buyers
 
<hr class="system-pagebreak">
Chinese Australian buyers
Sophie Jiang, from The Vision China Times, told Property Observer that it is definitely hard to generalise about what Chinese buyers want in a property. Budget, purpose, personal background and situation are, of course, game changers for every investor.
However, some constants are definitely clear from what the experts are saying.
Jiang notes that she has spoken to a number of different development groups, such as AVJennings, Fraser Property, Payce and Legacy group, and that this has created a fairly clear picture in her mind as to what is being marketed and snapped up.
However, it's not just non-resident Chinese buyers that are purchasing. Chinese Australian buyers, obviously, are looking for a certain type of stock.
"For owner occupiers especially those with young kids, quality schools are always on the top of their criterion list in selecting location, followed by the access to public transportation, amenities, neighbourhood," Jiang lists.
"Many Chinese Australian buyers are family oriented so they like to live close to each other and  still be able to enjoy the same lifestyle as in China. That is the reason why those suburbs with large Chinese population have been enjoying high demand," she explains.
When looking at the specific property, Chinese buyers steer towards double brick with large land content, due to opinions that this creates solid capital growth.
"Good position and floor plan in compliance with Feng Shui are also very important," she says.
A Feng Shui inappropriate floorplan may include features such as the front door looking on to another door, doors being in too close proximity (known as "arguing doors"), too many windows and doors in a row, and bedrooms that are situated over specific rooms that are not deemed peaceful (e.g. over a garage).
New apartments and townhouses, due to their low maintenance appeal, are also being favoured by Chinese buyers. While, for solely investment buyers, new and off-the-plan in the inner city are more important.
"Popular features are location (proximity to transport, university, shopping, CBD, beach), architectural design, finishes and amenities," Jiang concludes.
Taylor agrees with this, also listing the following themes:
- Water views and frontage
- New or recently renovated construction
- Proximity to educational institutions
- Proximity to Chinese Australian communities
- Easy access to amenities, shopping and transport The changing wants of buyers
While all of these factors may sound fairly prescriptive, the sands are regularly shifting around buyers' profiles and their wants.
“In Australia, I’m constantly surprised when I hear from agents. There’s always a new suburb where vendors are benefitting from having these investors show interest in their property. Whether it’s in the Northern Beaches of Sydney, semi-rural Dural, or an outer suburb of Adelaide, Chinese buyers are turning up in places they seldom did before," Taylor says.
“I don’t think Australia has ever seen a group of foreign investors as numerous as the Chinese. As they learn more about Australia and come to love it, they are exploring new communities and property types. That’s why you see Chinese buyers in more suburbs now than you did just a year ago."
Similarly, observer Terry Ryder notes that they are not always achieving what they want from property. This will, likely, change.
"I think Chinese buyers [want] something they are not getting: they want good investment properties at market prices. At the moment they are sold bad investments at inflated prices," Ryder explains.
"They are being targeted by Australian developers with properties they can't sell in the local market because of oversupply, particularly the inner-city areas of Melbourne and the Gold Coast."
He says that he was speaking at a seminar in Melbourne, and was approached by a man in the audience who had flown from Shanghai to hear the talk, telling Ryder later that his family and friends had been ripped off by developers and marketers in the past, buying the wrong stock.
Commercial property is also emerging as being of interest to this buying group. Read Property Observer on Monday for some more information.
In the meantime, you can read observer Pete Wargent's thoughts on the <a target="_blank" href="https://www.propertyobserver.com.au/trends/the-chinese-buyer-phenomenon-pete-wargent/2013101565710">reasons behind the Chinese buyer 'phenomenon'</a>.
 
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What do Chinese buyers want?

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Yesterday evening, a number of property commentators, including AMP Capital's Shane Oliver, discussed what could be done about the increasing property prices and first home buyer difficulties.
What did emerge, were comments that FHB 'handouts' or grants, may not be the way forward.
A debate continued that included the concept of getting rid of negative gearing, potential supply increases and decentralising the reliance on city centres.
<blockquote class="twitter-tweet">
<a target="_blank" href="https://twitter.com/MattyGMoses">@MattyGMoses</a> Agree.Its unfortunate we keep reaching for simple solutions (eg FHB handouts)without realising we have to boost supply big time
— Shane Oliver (@ShaneOliverAMP) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/ShaneOliverAMP/statuses/392816743011205120">October 23, 2013</a>
</blockquote>
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First home buyer grants not the solution to rising house prices

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When you've been attending a number of open homes, you quickly realise what is and isn't unusual for a property in the area. "Unusual" isn't always a good thing to associate with your investment property, but a desirable, scarce and highly valued difference can ensure that your property is in good stead for future growth.
This concept comes up consistently from a number of investment professionals. Yesterday evening, at WBP Property Group's ‘Property Investment Symposium’ event, which Property Observer attended (you can read all of the tweets from the event, and some reader questions, via <a target="_blank" href="https://twitter.com/search?q=%23propertyobserving&amp;src=typd">#propertyobserving</a>) this concept was heavily talked about.
<blockquote class="twitter-tweet">
WBP philosophy: capital grth is king, historic performance crucial, high Land value, scarcity <a target="_blank" href="https://twitter.com/search?q=%23propertyobserving&amp;src=hash">#propertyobserving</a> <a target="_blank" href="https://twitter.com/propertyobs">@propertyobs</a> <a target="_blank" href="https://twitter.com/search?q=%23wbpsymposium&amp;src=hash">#wbpsymposium</a>
— Jennifer Duke (@JennieDuke) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/JennieDuke/statuses/392929851125936128">October 23, 2013</a>
</blockquote>
Disputing the myths, WBP Property Group's property adviser, Phil Manning, stopped at a slide that said 'Location, location, location' and said that the reason we say it three times isn't because location is important enough to be mentioned thrice. In fact, it's because we should be looking at three location factors when it comes to a property:
Location in the suburb
Location in the street
Location in the block
<blockquote class="twitter-tweet">
Phil Manning wants to give us some basic thoughts/fundamentals <a target="_blank" href="https://twitter.com/search?q=%23propertyobserving&amp;src=hash">#propertyobserving</a> <a target="_blank" href="https://twitter.com/propertyobs">@propertyobs</a> <a target="_blank" href="https://twitter.com/search?q=%23wbpsymposium&amp;src=hash">#wbpsymposium</a> <a target="_blank" href="https://t.co/JSNFAntcqx">pic.twitter.com/JSNFAntcqx</a>
— Jennifer Duke (@JennieDuke) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/JennieDuke/statuses/392928808778469376">October 23, 2013</a>
</blockquote>
He later brought up an example of a property that they purchased. He noted that it had several 'scarcity' aspects to it, that ensured it would stack up. Not all of these would have been apparent to someone looking at the properties - and not all of those in the block would have had the same result.
For instance, it had views of Melbourne's skyline that could not be built out due to a heritage overlay. Those on the ground floor level would not have this view, and so would not be considered as having investment grade scarcity. It also had a pull down ladder to storage space in the roof - something very few units have, which counters many buyers' concerns about the difficulties of storage in apartments.
For this reason, apartments in large towers may not be the most preferable asset choice for investors with this strategy.
The concept of scarcity ties in nicely with supply and demand, in that it is a scarce type of supply. However, it's a little bit more difficult to determine. Without regularly viewing properties in the area, it can be hard for an out-of-town investor to know what is common within a property and what is not, and which factors are desirable. For instance, buying a weatherboard house in a primarily brick area, something Manning refers to as buying property that is anomalous to that in the area, could be to your detriment.
Monique Sasson Wakelin <a target="_blank" href="https://www.propertyobserver.com.au/news/properties-that-will-double-in-value-in-seven-to-10-years-monique-sasson-wakelin/2013091265003">previously told </a><a target="_blank" href="https://www.propertyobserver.com.au/news/properties-that-will-double-in-value-in-seven-to-10-years-monique-sasson-wakelin/2013091265003">Property Observer</a> that scarcity applies to both houses and units. "The same criterion applies to apartments. With apartments you want anything from 1930s through to about the 1970s. Those are the assets that really confer and satisfy that criterion of scarcity value," she said.
"When it comes to houses we like to choose investments that are anything from the 1880s probably to about the 1940s or 1950s."
For the reason of scarcity, Manning also said that you shouldn't go into every purchase leaving your emotions behind. Remember, the next buyer down the track will likely be an owner occupier buying based on emotion and you want to be aware of how they may feel towards a property, and how it suits their lifestyle.
<blockquote class="twitter-tweet">
Lifestyle offers that property makes is crucial. Transport is assumed. Walk to recreational says Manning <a target="_blank" href="https://twitter.com/search?q=%23propertyobserving&amp;src=hash">#propertyobserving</a> <a target="_blank" href="https://twitter.com/propertyobs">@propertyobs</a>
— Jennifer Duke (@JennieDuke) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/JennieDuke/statuses/392932367620243456">October 23, 2013</a>
</blockquote>
Be emotional when you enter - see whether it has a feeling that appeals. Is the bay window, or fireplace, or similar, that you don't see much in other properties, that you could easily see an owner occupier paying a premium to have? Is it the view? Is it the slightly larger garden? See how it is located to desirable factors e.g. bike paths, recreational centres, and similar.
Where you don't want to be emotional, he said, is with the price you pay.
{module Do you consider scarcity value when considering investment properties?}
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Assessing capital growth potential: Scarcity factor

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While some may be thinking it's positive conditions all round due to the national statistics looking positive, with a 2.2% overall increase for the September quarter, when looking at individual cities the story is different, according to Australian Property Monitors' statistics.
In fact, Australian Property Monitors' Andrew Wilson, commenting on the House Price Report, noted that Sydney and Melbourne data skewed the overall national figure.
Sydney recorded a 4.2% rise, pushing the median house price to a record $722,718, with unit prices increase by 3.3% to a new record median $515,035. It has increased by 9% over the first nine months of the year.
Melbourne rose by 2.2%, however is still 1.8% below that seen at the June 2010 peak.
Brisbane increased by 0.7% over the September quarter, however Adelaide and Perth were flat, with Canberra seeing a fall of 1.4%.
"Although Sydney and Melbourne each recorded their highest quarterly median house price increases for over three years, other capital city housing markets continue to struggle," said Wilson.
"The Adelaide market recorded no growth in the median house price over the quarter with prices up marginally by just +1.1% so far this year – it is the most affordable of the mainland capitals with a median house price of $438,648," he said.
While the Perth median was seen to be flat, it previously had six quarters of growth, pushing it 8.6% up over the year ending September.
Investment activity that is currently strong in Sydney can be expected to soften as yields drop and increased supply decreases rental growth pressure, said Wilson.
"The Sydney and Melbourne housing markets however will continue to record solid to strong buyer and seller activity over the remainder of 2013 at the highest levels since the strong market conditions of 2009 and 2010," he said.
"Most other capitals however will record modest price growth with Perth in particular showing early signs that recent solid growth may be plateauing."
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Cities other than Melbourne and Sydney struggle over quarter: APM

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For investors buying in Melbourne and Sydney, the dynamics can be quite different, and it's worth considering what other buyers are interested in that may drive growth in the future, and competition right now.
The infographics below, provided by <a target="_blank" href="https://www.realestateview.com.au/">realestateVIEW</a>, are based on a national survey conducted in August on nearly 10,000 buyers.
Petra Sprekos, general manager for realestateVIEW, said that the biggest difference is that Melburnians want to live closer to the city for lifestyle benefits, while Sydneysiders are happier to live further out.
"This may have a lot to do with the communities in Sydney being well set up with ‘city’ like amenities - a lot of people in Sydney live and work in or around the area they live in. Our research showed people in Sydney were searching for properties at least 20km from the CBD but in truth, for Sydney this is actually classified close to the city whereas in Melbourne it’s classified as outer suburbs," said Sprekos.
<img width="470" height="616" src="/images/stories/2013/10/23/info-oct-23-one.gif" alt="info-oct-23-one">
Despite the differences, what is also striking are the similarities.
"“I think there are a lot of commonalities in both cities. Location and price are key for buyers from both cities –capital growth is also up there. Sydneysiders do place more value on outdoor space, but that’s probably because it’s easier for them to get this in the outer areas," Sprekos continued.
<img width="470" height="619" src="/images/stories/2013/10/23/info-oct-23-two.gif" alt="info-oct-23-two">
Investors should take note of the top suburbs, Sprekos urged.
"Investors can take note of the most searched suburbs and use these areas as a starting point to research values and trends over time – the fact that these areas are the most searched suggests current demand is strong, but they would to drill down further into historical sales and rental yields before deciding if it’s a good investment," she said.
"It’s also worth bearing the top ranked location and property features when determining investment potential – they’re a great indication of what matters to buyers which ultimately has some influence on capital growth."
<img width="470" height="618" src="/images/stories/2013/10/23/info-oct-23-three.gif" alt="info-oct-23-three">
 
 
<img width="470" height="618" src="/images/stories/2013/10/23/info-oct-23-four.gif" alt="info-oct-23-four">
Overall, she said, be aware that the suburbs in demand are usually so because they offer the most value. At the end of the day, for every investor, it needs to be at the right price.
"If price is not a match, people tend to move further out – this is what we are seeing. But remember there is always a property to find in any area, whether the suburb is ‘hot’ or out of your price range – it’s all about keeping your eyes open for an opportunity that could be unique to the area," she said.
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What buyers want in Sydney versus Melbourne: RealestateVIEW

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Matt Cowgill, the "Economics-talking guy at the Australian Council of Trade Unions", tweeted that the home ownership rate among 25-34 year olds has dipped below half.
He put out a picture of the Grattan Institute graph showing home ownership rates by age cohort.
<blockquote class="twitter-tweet">
The home ownership rate among 25-34 year olds has dipped below 50% for the first time in decades (via <a target="_blank" href="https://twitter.com/GrattanInst">@GrattanInst</a>): <a target="_blank" href="https://t.co/zlzrcqoUXW">pic.twitter.com/zlzrcqoUXW</a>
— Matt Cowgill (@MattCowgill) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/MattCowgill/statuses/392131194088730624">October 21, 2013</a>
</blockquote>
This has recently been a much-talked about topic, with Property Observer writing about <a href="https://www.propertyobserver.com.au/australian-capital-territory/government-policies-favour-wealthy-property-owners/2013102065823" target="_blank">government policies favouring the wealthy property owners</a>, rather than renters
Observer Catherine Cashmore also weighed in on the debate and the <a href="/news">problem with negative gearing for those trying to enter the market</a>.
 While the REIA agrees with the Grattan Institute's comments, they still say that<a href="https://www.propertyobserver.com.au/finance/leave-negative-gearing-alone-reia/2013102165847" target="_blank"> negative gearing should be left alone</a>.
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Home ownership rate among young dips

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With investors out in force across the country snapping up entry-level properties, it’s no surprise that first home buyers are feeling the heat with new Australian Bureau of Statistics (ABS) data showing first time buyer levels dipping.
First home buyer levels are representing just 13.7% of new mortgages in August 2013, compared to 14.7% in July 2013, ABS statistics show.
This comes as investor activity is spiking, explained executive chairman and CEO of Raine &amp; Horne, Angus Raine.
“We’ve probably never before seen the investor market so ascendant, with historic low interest rates, favourable rules for self-managed super funds and a shortage of stock contributing to excellent investor conditions,” said Raine.
“To be fair, buying a first home has always had it challenges,” he said, urging new buyers to be flexible when entering into the market.
“Typically this means looking for more affordable homes in suburbs or towns that may not have originally been on your shortlist, while the often juicy government subsidies involved in buying or building a new property are also worth some consideration,” he said.
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Investors and first time buyers facing off

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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