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A representative from the Real Estate Institute of Australia (REIA) recently spoke before the Parliamentary Joint Committee Inquiry into the Financial Services Industry and highlighted a number of concerns for real estate agents and consumers in the SMSF space.
REIA chief executive officer Amanda Lynch, in the latest issue of the REIA’s newsletter, touched on these issues in further detail.
“Our involvement with this inquiry was at the request of the committee, although the REIA has been pro-actively working to address community and industry concerns about the blurring lines between real estate agents and the provision of financial advice,” explained Lynch.
It seems that one of the major concerns is the blurring of the line between the role of a real estate agent and the role of an SMSF financial planning adviser.
This concern is not just strictly related to real estate agents. Just recently, Park Trent Properties, who run seminars and education programs for property investors and promote property, <a href="/guides/asic-commences-proceedings-against-property-promoter-park-trent-properties">have been targeted by ASIC for their SMSF promotions</a>. ASIC explains that they are effectively carrying on an unlicensed financial services business.
Lynch contests that there is an issue, but that it’s limited within the real estate agent profession.
“While we recognise that for the most part, few if any, real estate agents are involved in the promotion of SMSFs, some of our members report that there is an increasing demand from accountants who managed SMSFs on behalf of trustees as well as vertically integrated organisations that approach agents seeking suitable properties,” she said.
She explains that the vast majority of real estate agents do not make estimates on rental returns or capital gain on properties.
However, those that do were noted to utilise statistics publicly available through the ABS, Bendigo and Adelaide Banks and the REIA’s own Real Estate Market Facts and Housing Affordability Report.
“Importantly, no payment is sought for this advice as it forms a basic part of being a real estate agent,” she said.
Lynch also recognised that there are “clusters of agents in certain areas with the dual role of also being a financial planner”.
Currently, a deterrent to this is the high cost of personal indemnity insurance to offer financial advice.
Instead, she also warned that financial advisers are approaching the real estate industry themselves – and not in the most scrupulous way possible. Her warning is towards those who use fast-track course methods to obtain qualifications to become a real estate agent.
They require no exams, are completely solely online and have a “very suspicious 100% success rate” she warns.
The REIA is seeking the de-registration of courses that offer a no course, no examination full success rate.
“These courses are not at all regarded by established real estate agents,” she said.
SMSF trustees have previously <a href="/guides/smsf-trustees-warned-not-to-take-financial-advice-from-real-estate-agents">been warned not to take advice from real estate agents</a> by ASIC commissioner Greg Tanzer.
“ASIC is aware that there has been a sharp rise in promoters recommending that investors either set up or use an existing SMSF to invest in property,” Tanzer said.
“These promoters may not be complying with the law.”
In response to these statements earlier this year, Graeme Colley, director of technical and professional standards at the SMSF Professionals’ Association of Australia, said that real estate agents might not actually know that providing this advice without a licence is illegal.
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jduke-EHk3XBmHkn

The blurring line between real estate agents and SMSF advice

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A surge in tax depreciation schedules requested in a number of regional areas has been noted by tax depreciation company BMT’s managing director Brad Beer.
Beer said that rural and regional locations appear to have attracted strong investment activity over the past financial year.
But where have they been targeting?
<ul>
<li>Port Pirie<a href="/news"></a>, South Australia</li>
</ul>
Topping the list is Port Pirie, where a 169% increase in the number of tax depreciation scheduled was recorded.
<ul>
<li>Riverland, South Australia</li>
</ul>
The wine region recorded a 141% surge in requests for depreciation schedules.
<ul>
<li>New England, New South Wales</li>
</ul>
This area recorded an 89% uptick in schedules requested.
<ul>
<li>Logan City, Queensland</li>
</ul>
This city, a strong investor favourite, recorded a 66% increase, compared to greater Queensland’s 19% uptick.
<ul>
<li>Nowra, New South Wales</li>
</ul>
A 64% increases was achieved by this south coast area.
<ul>
<li>Oven region, Victoria</li>
</ul>
A 58% surge was noted for the Oven region.
<ul>
<li>North-east Tasmania</li>
</ul>
A 46% surge was seen in the north-east of Tasmania, despite greater Tasmania recording no increase.
Interestingly, these increases in individual regional ad rural areas strongly outpaced their respective state-wide averages. The activity growth in South Australia was at 20%, New South Wales saw a 23% surge and Victoria was up 19%.
Beer said that this may be due to the cheaper house prices and higher rental yields available in the rural and regional areas.
“With many capital cities experiencing considerable capital gains over the past few years, some investors appear to be seeking out alternate market segments in order to enter the market faster and at a lower price while still realising a solid return,” he said.
“These locations present a unique opportunity for investors willing to think outside the box and take advantage of regions able to still provide returns but at a much lower cost of entry.”
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The seven rural and regional areas on investors’ radars: BMT

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Country Garden’s stage two launch of $550 million Ryde Garden, North Ryde on Saturday saw over 250 people viewing the display with 336 apartments up for sale.
In total, 185 of the 336 sold on the day, with an even mix of one, two and three bedrooms selling as well as two penthouses at $1.88 million each.
<a href="https://www.rydegarden.com.au" target="_blank">Ryde Garden</a>'s stage two release saw one bedroom apartments were priced from $498,000, two bedroom apartments from $685,000 and three bedroom apartments from $950,000.
Property Observer is advised that buyers were attracted to the suburb’s growth prospects and proximity to the university and train station.
<img src="/images/2014/11/17/ryde-nov-17-one.jpg" alt="">
At present, the proportion of owner occupiers to investors remains unconfirmed.
The first launch saw a strong result, with <a href="/expert-insights/buying/strong-off-the-plan-sales-at-country-gardens-ryde-garden-project">296 off the plan sales earlier this year - priced very similarly</a> - securing $186 million in sales, with up to 20% being prior Country Garden customers.
The apartments in this release surrounded a 4,000 square metre park landscaped by Aspect Studios.
The development, designed by Bates Smart, sees each apartment include its own balcony with ground floor apartments featuring private courtyard spaces.
Communal facilities include three rooftop terraces, a swimming pool, gym, BBQ area and childcare on site, with shops, restaurants and cafes nearby.
<img src="/images/2014/11/17/ryde-nov-17-two.jpg" alt="">
The uppermost levels, and rooftop terraces, feature views of the Harbour and CBD.
The development is expected to see construction in December, with completion forecast for mid-2017.
Country Garden emerged in June as <a href="/expert-insights/buying/ryde-garden-debut-for-country-garden-australia">one of the companies potentially interested in purchasing Harry Triguboff's Meriton</a>.
<img src="/images/2014/11/17/ryde-nov-17-three.jpg" alt="">
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Ryde Garden stage two sells 55% at Saturday launch

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When purchasing an investment apartment, it's not uncommon for rental yield and cash flow to be on the list of "top concerns" for the buyer.
Apartments can provide decent cash flow in some locations, usually at a lower price point than for a house in the same area.
Looking to the latest available list of RP Data's suburb statistics, Property Observer found Victoria's highest yielding suburbs and how far from Melbourne's CBD you have to go to find them.
These 12 suburbs range from 6% rental yield upwards from as close as 22 kilometres from the CBD.
Click on the suburb name to go to a more in depth data page:
<ul>
<li><a href="/news">Meadow Heights</a></li>
</ul>
6.01%
22 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Truganina</a></li>
</ul>
6.10%
24 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Melton</a></li>
</ul>
6.29%
45 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Melton South</a></li>
</ul>
6.12%
46 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Cranbourne West</a></li>
</ul>
7.28%
50 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Alfredton</a></li>
</ul>
7.08%
120 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Inverloch</a></li>
</ul>
18.20%
147 kilometres from Melbourne CBD
Note: This statistical anomaly is due to the area’s high frequency of holiday home rentals. Many ask in excess of $2,500 per week for tightly held beach retreat units, while the apartment properties that hit the market regularly tend to be small two or three bedroom offering around the $180,000 to $350,000 mark. It’s unlikely this type of yield is realistically attainable.
<ul>
<li><a href="/news">Yarrawonga</a></li>
</ul>
6.21%
275 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Horsham</a></li>
</ul>
6.43%
300 kilometres from Melbourne CBD
<ul>
<li><a href="/news">West Wodonga</a></li>
</ul>
6.00%
321 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Wodonga</a></li>
</ul>
6.20%
322 kilometres from Melbourne CBD
<ul>
<li><a href="/news">Mildura</a></li>
</ul>
6.23%
542 kilometres from Melbourne CBD
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The 12 highest yielding unit suburbs in Victoria

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Those getting involved in property development, whether for the first time or not, must be aware of the common trip-ups many come across.
Developing can be a hugely profitable venture, but for those who don’t know their roof tiles from their floor tiles, it can be tricky.
<a href="https://verveprojects.com/" target="_blank">Verve Projects</a> has shared five tips that they’ve learned about common traps and what you can do to avoid them.
<ol>
<li>
Never forget that time is money  Although there may be a complex issue that’s demanding all your attention, it’s important to keep all your other balls in the air at the same time. Otherwise, if one drops, it could start a chain of events (and costly delays) that may affect your bottom line. 
</li>
<li>
Always surround yourself with the best team of consultants and contractors  While it may be tempting to go with a cheaper option, there’s every chance a low-quality provider won’t be able to deliver the best outcome, meaning you may need to put out spot fires later on. It’s always important to consider quality versus cost the first time around so you can budget accordingly and avoid costly hiccups. 
</li>
<li>
Do your homework  Thorough due diligence is vital towards delivering a successful project. A development site may look viable on paper but if an unbudgeted issue goes undetected through the acquisition or tendering process – such as contamination or environmental complexities – it can blow a sizeable hole in your cashflow, erode profitability and leave you scrambling to secure extra funding at the project’s front end. 
</li>
<li>
Always consider all the options  Never assume there is only ever one solution for a development issue. That said, once the preferred development solution is identified and agreed on – lock it in and focus on delivering your goal. Nothing erodes profitability and delays development timeframes like indecision. 
</li>
<li>
Always confirm your communication objectives and reporting requirements upfront  Communication is essential towards the smooth delivery of any project. Always ensure open lines of communication, agree on expectations upfront and lock in regular meeting arrangements to ensure the swift turn-around of decisions and approvals, otherwise, refer back to point number one!</li>
</ol>
Source: Verve Projects.
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Five things to know before starting a development project

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Sydney should take a more regional approach to planning, according to the Urban Taskforce’s CEO Chris Johnson, who says that the capital should learn from the Hunter and Illawarra’s models.
With a recent announcement by NSW Minister for Local Government Paul Toole relating to five joint organisation pilots, Johnson has expressed their support of the approach, which will see the many individual councils in Sydney centralised.
“The two urban groups of the Hunter and the Illawarra can demonstrate a successful model that could be applied to Sydney councils if amalgamations do not occur in all areas,” said Johnson.
The current Hunter model is for 11 councils to share services, which Johnson notes is a good beginning, but the big issue of a single ‘centre of excellence for planning’ needs to be part of the pilot.
“A central planning office can develop specialist skills in strategic planning, assessments and infrastructure planning while increasing career prospects for young planners. The planners will also take a more independent position in the assessment of projects,” he said
Johnson said that the future of urban areas must be a partnership between the local government and the private sector development industry.
“It is encouraging to see that the Minister for Local Government has identified planning as a key community priority that cuts across traditional local government boundaries along with jobs and infrastructure.”
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Sydney should emulate Hunter, Illawarra planning success: Urban Taskforce

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Mortgage Choice’s recent First Home Buyer Survey 2014 paints an interesting picture of the 'average' age and purchase choice of a first time buyer.
How do you compare to their average?
Here are nine points of comparison. Answer the questions below, then turn the page to see how your responses stacked up.
<ol>
<li>How old will you be when you buy that first home? 
</li>
<li>Who are you intending to buy with? 
</li>
<li>How will you finance it (what LVR, and will you have assistance)? 
</li>
<li>How long will you be saving for before buying? 
</li>
<li>How much of your after tax income do you save each month? 
</li>
<li>What type of property are you looking to buy? 
</li>
<li>Are you able to buy where you want to? 
</li>
<li>What are your biggest concerns about buying a home? 
</li>
<li>What are your key motivators behind purchasing?</li>
</ol>
Turn the page to see how you stack up.
<hr class="system-pagebreak">
<ol>
<li>
How old will you be when you buy that first home? Of those surveyed by Mortgage Choice, 43.1% said they would be 30 to 39. A further 33.4% said 18 to 29. 16.9% said 40 to 49, while 6.6% said 50 plus. 
</li>
<li>
Who are you intending to buy with? The majority, 65.6%, of first home buyers are looking to buy with their spouse or partner. A further 28.6% are buying alone, while a small minority are considering purchasing with colleagues, siblings or other family members. 
</li>
<li>
How will you finance it (what loan to value ratio (LVR), and will you have assistance)? Most first home buyers are seeking a 6-10% deposit, with 28.9% pointing to this bracket, closely followed by 20.7% with a 5% deposit. 14% of respondents said they would opt for an 11-15% deposit and 14% of people a 16-20% deposit. Those contributing more than 20% totaled 16.3%. A minority looked to get their parent to act as guarantor. 
</li>
<li>
How long will you be saving for before buying? The most common response was for a period of one to two years, with 43.1% answering with this option. A further 16% and 15.1% noted one to two years and two to three years respectively. Just 9.2% will save for zero to six months. 
</li>
<li>
How much of your after tax income do you save each month? This is a close call. If you answered 10%, then you’re closest to the most common person surveyed, with 28.1% opting for the figure. However, 25.5% noted 20%, with 17.6% selecting 30%. 
</li>
<li>
What type of property are you looking to buy? The majority are looking to purchase an established home (47.9%), while 17.1% are aiming for a newly built property. Those looking for land, or off the plan, remain in the minority. 
</li>
<li>
Are you able to buy where you want to? The majority say… no, with 54.3% unable to do so. This is largely as a result of cost, with 88.8% of those respondents saying it’s out of their price range. 
</li>
<li>
What are your biggest concerns about buying a home? First home buyers are most concerned about the commitment that comes with a large financial obligation (48.7%), while similar figures were for ‘The length of time it takes to pay off’ (46.2%) and ‘Not being able to afford repayments’ (45.2%). Around a third of those surveyed also noted that the amount of money they would have paid by the end of the loan term, not taking out the most suitable home loan and buying the wrong home are significant concerns. 
</li>
<li>
What are your key motivations behind purchasing? The most common answer, with 53.3% of respondents opting for this, was to set themselves up financially. A total of 45.6% wanted a family home to raise their children in, while 33.1% of respondents also said that rising rents was making owning more attractive. Favourable market conditions and seeing more benefit in property than the share markets nabbed above 19% of respondents for each. 
</li>
</ol>
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How do you compare to the 'average' first home buyer?

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Brisbane’s inner city apartment market recorded a strong September quarter this year, but it’s the closing quarter of 2014 that’s expected to break sales records, according to a new report from Place Advisory.
The Place Advisory Inner City Apartment Market Report says that demand remains strong and while the September figure was below the June quarter, they predict demand will strengthen over December.
While five projects launched over September with a total of 727 new apartments, over the December quarter up to 14 projects with more than 2,200 apartments are expected to launch – the first time the end of year quarter has seen this much activity.
Over September the majority of the sales were one and two bedroom apartments, totalling $428 million in off the plan transactions. The unconditional sale price in Brisbane over the September quarter remained steady at $545,478 (weighted average), which sits 1% below June and 8% down on a year prior.
The 2014 year to date has seen 2,535 transactions. The majority of sales are under $550,000, with two bedroom apartments the most common seller.
New Farm, Newstead and Teneriffe saw the majority of sales over the three months – totalling 637. South Brisbane, West End and Kangaroo Point proved less active with 144.
Remaining apartments for sale (as of the end of September 2014):
<ul>
<li>1,634 (6.2 months market supply)</li>
<li>Inner North: 1,018</li>
<li>CBD: 369</li>
<li>Inner South: 529</li>
</ul>
Source: Place Advisory
“The September 2014 quarter saw a total of 785 unconditional sales across 56 inner Brisbane projects which is well above the long-term 10-year average of 343 sales per quarter,” Place Advisory’s director Lachlan Walker said.
“The Brisbane inner city apartment market is in a perfect position as we head into the last quarter of 2014 with high demand and more projects coming on to the market.”
Walker said that positive momentum is growing for owner occupiers and investors with the median apartment price substantially below those seen in Sydney and Melbourne, by 45% and 25% respectively.
“Brisbane provides an affordable substitute investment for our southern neighbours with a much greater propensity for growth. This is one of the key reasons Brisbane has had such strong interstate interest the past 12 months,” he said.
 “There is an old wives tale that Brisbane shuts down after Melbourne Cup. We are definitely not expecting that to be the case this year with the December period showing strong signs that we will have a great finish to 2014.”
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Brisbane inner city tipped to smash sales records in final quarter

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Tasmania isn’t exactly known for its expensive rental apartments and looking at the top five priciest rental unit suburbs it’s pretty clear why.
With a list that doesn’t even span above $400 per week, here are Tasmania’s five most costly rental suburbs, based on RP Data’s weekly median advertised rent.
<ol>
<li>
<a href="/news">Hobart</a> - $450 
</li>
<li>
<a href="/news">Battery Point</a> - $375 
</li>
<li>
<a href="/news">Launceston</a> - $328 
</li>
<li>
<a href="/news">Sandy Bay</a> - $310 
</li>
<li>
<a href="/news">North Hobart</a> - $305
</li>
</ol>
There were just two other suburbs that clocked $300 per week for the median weekly advertised figure, and these were <a href="/news">Bellerive</a> and <a href="/news">Kingston</a>.
Of course, this isn’t to say that specific pricey rentals aren’t available. Looking on listings websites reveals that for $1,400 per week <a href="https://www.realestate.com.au/property-house-tas-binalong+bay-413208891" target="_blank">11 Reserve Street in Binalong Bay</a> can be your new home.
The three bedroom, two bathroom home is a holiday rental, walking distance from the beach and tennis courts.
Holiday accommodation and fully furnished properties are clearly those asking for the big dollars.
Looking for $800 a week is this family home seeking a new tenant. At <a href="https://www.realestate.com.au/property-house-tas-granton-413422227" target="_blank">10 Christopher Close in Granton</a> it’s a four bedroom, two bathroom beauty with expansive gardens that a gardener attends to weekly.
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The five most expensive suburbs to rent a unit in Tasmania

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We’re coming close to Christmas already, with November now in full swing. Unsurprisingly, this has some in the property industry eyeing up what may happen in 2015.
Allworth Homes’ managing director Stephen Thompson has big predictions for what changes may occur.
Many of these appear to be good news for consumers and first home buyers.
Here are his six predictions:
<ol>
<li>
Competition amongst land developers will drive prices down Together with smaller lot sizes (i.e. cheaper), this should bring a swathe of new buyers to the market who would previously not considered building. 
</li>
<li>
Home designs will be small to suit a new market Clever layouts incorporating things like computer nooks and great storage will be a top priority. Separate zones for family living is still important and of course the indoor-outdoor living/kitchen/dining transition must be seamless. 
</li>
<li>
House and land packages v split contracts Whilst the market is ‘hot’, buyers will pay a premium for a package as they’re being sold the repayments as much as the house. However, plenty will still source their own land and select a contract builder – by doing this they save tens of thousands up front, not to mention long term interest repayments. When the market inevitably cools, some of the newer exclusive package builders will withdraw – most either don’t want to do contract work or are incapable. Clients can be quite demanding when it comes to spending their hard earned cash on a new home (and rightfully so) – it takes a contract builder of experience to meet their expectations. 
</li>
<li>
Land availability will be strong in 2015 There’s a lot of land coming to the market late 2014 and into 2015. A lot at affordable pricing, particularly in the Hunter and Illawarra regions. There is pent-up demand for affordable housing. Lot sizes in Sydney will me markedly smaller. In the regions where 600 square metres was the minimum the market found acceptable are looking at 450 as the norm. 
</li>
<li>
Volume home builders will be assessing some alternative materials to bricks Bricklayer availability is a serious issue we’ll have to deal with in the near future. Builders will have to assess the use of different types of material, as well as making sure it stays ‘on trend’. Stephen Thompson said, “People are warming to the idea of alternatives to brick, as long as the alternative maintains all the benefits of traditional brick veneer. Looks, insulative properties and the ‘knock test’ has to be passed. Rendered and painted requires less frequent maintenance than it once did with modern materials.” 
</li>
<li>
Multigenerational living is on the rise A lot of new home buyers are now following the trend toward ‘future-proofing’ their new home design. That is, designs that allow, with a small amount of renovation work, a former living area to be converted into sleeping accommodation with bathroom access, for example. Homes with versatile spaces that can be used in different ways and accommodate multi-generational living will continue to be in high demand in the coming years.</li>
</ol>
Source: Allworth Homes
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Six home building and design trend predictions for 2015: Allworth Homes

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

Joel Robinson

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

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

WM Residences fills gap in Mordialloc townhouse market

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Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

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The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Jennifer Duke

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