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There are many types of insurance policies to consider when you purchase an investment property.
Among these is landlord’s insurance, a type of cover that safeguards you, as the property owner, against damage caused by tenants in your rental property.
What does it cover?
Every landlord’s insurance policy is different and you must always read the fineprint to ensure you know what you are covered for. However, the general theme is that you are covered for damage, accidental or malicious, caused by tenants. It may also cover theft by tenants or tenants’ visitors.
It can also cover you in unlikely, but damaging, situations – <a href="/expert-insights/dont-fear-the-reaper-10-things-to-do-if-your-tenant-dies">such as death</a>, or a similar circumstance, and it can also be cover in the event of a tenant undergoing illegal activities, such as <a href="/expert-insights/investing/drug-labs-landlords-exposed-if-tenants-undertaking-criminal-activity">setting up a drug lab</a>.
It can also cover tenants who default on their rent or who vanish – meaning you aren’t suffering the shortfall. This is often covered up to a certain amount, and some policies will also cover the legal expenses due to the loss of rent, up to a certain figure.
Some policies separate it into building only insurance for landlords, and contents insurance for landlords.
Usually, there are still premiums and excesses payable, as for most policies.
Very specific items are often not covered or cannot obtain cover. For instance, in the case of AAMI landlord insurance, the following are not included in the building cover:
<ul>
<li>Any part of the building or site used for conducting a business, trade, professional services or farming 
</li>
<li>Any part that cannot be locked due to it being altered, renovated or rebuilt 
</li>
<li>Any temporary structures or structures in the course of construction 
</li>
<li>Houseboats, watercrafts, caravans, mobile buildings (fixed or free-standing), motorised vehicles etc 
</li>
<li>Loose surfaces of tennis courts, driveways and paths 
</li>
<li>Hedges, laws, trees, shrubs, plants, flowers, garden beds or any other living material</li>
</ul>
However, it does cover any of the property’s furnished aspects, as owned by the landlord, including floor coverings, wall hangings, sound and vision equipment, household linen, bedding, kitchen and dining equipment, computers and printers, outdoor garden furniture and free-standing playground equipment.
AAMI also notes that their cover does not extend to damage/losses caused by vermic, rodents, insects (including termites) and domestic animals. It also doesn’t cover applications of heat where there was not flame – for instance, cigarette burns or scorch marks. These are just of the few of the does cover/does not cover specifications and it’s <a href="https://www.aami.com.au/sites/default/files/fm/pdf/landlord-freeholding-insurance-policy.pdf" target="_blank">worth reading them through if you’re considering the coverage</a>.
Metro Property Management's <a href="/expert-insights/investing/yes-you-really-need-landlord-insurance">Leah Calnan previously wrote that</a>: "The best policies on the market allow for 15 weeks loss of rent.  Loss of rent is payable to an owner when tenants stop paying the rent and are subsequently evicted from the property, when they up and leave overnight, in the event the property is not tenantable (i.e. due to flood, fire, etc.) or in the event your tenant dies."
"Like anything nowadays there are many different policies on the market to choose from. I have worked with some fantastic policies, but I have seen owners incur considerably out-of-pocket expenses due to taking out the wrong policy," she explained.
How much does it cost?
This will vary for every landlord, and will also vary depending on the provider and level of cover. Some also have multi policy discounts, for instance offering 10% discounts on building cover when you combine with landlord insurance.
It also varies depending on where the property is located, if you self-manage, whether or not it is a short term rental and the amount of rent charged. Most providers offer a rough online quote to get you started, for instance <a href="https://online.terrischeer.com.au/?cover=landlord-insurance%20%20" target="_blank">Terri Scheer online offers a fairly comprehensive assessment</a>. They also ask about whether the property is furnished, and the size of the property. 
What else you should know
While whether or not you obtain this insurance, and when is down to the individual’s varying circumstances, it’s often highly recommended. Landlord insurance can also cover you for when the property is being shown at opens and sitting vacant, where you have liability.
If you move into the property, the insurance isn’t valid.
While it’s possible to get cover for periodic and fixed term leases through different providers, many will not cater to “casual leases”, and some will also not cover self-managing landlords. You will also want to make sure your property manager is collecting the right paperwork, or you may find yourself unable to claim. For instance, Westpac’s Landlord Extras claims can only be paid if there is a written rental agreement (which has to include the term of lease, amount of rent and bond payable), documented booking confirmation (in the instance of casually-let properties) and documented property inspection reports. Without these things, they will not pay out.
YOU MIGHT ALSO WANT TO READ
<a href="/expert-insights/what-insurance-policy-do-i-need-as-a-landlord">What insurance policy do I need as a landlord?</a>
<a href="/expert-insights/investing/do-i-need-public-liability-insurance-to-cover-my-tenants-ask-margaret">Do I need public liability insurance to cover my tenants? Ask Margaret</a>
<a href="/expert-insights/investing/investor-stories-my-house-was-turned-into-a-hydroponic-drug-farm">Investor stories: My house was turned into a hydroponic drug farm</a>
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jduke-EHk3XBmHkn

What is 'landlord's insurance'? Investment terms explained

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Last week we looked at John McGrath’s top four regional hotspots in New South Wales.
Offering lower price points than the capital city, strong growth prospects and stronger yields than generally obtained, it’s clear why investors might consider them.
Today, we ask – which of McGrath’s regional hotspots is on your list?
<a href="/news">Moss Vale </a>
Houses
<ul>
<li>Median price: $400,000</li>
<li>Rental yield: 4.68%</li>
</ul>
Source: RP Data
<a href="/news">Mount Ousley</a>, <a href="/news">Balgownie</a>
Houses – Mount Ousley
<ul>
<li>Median price: $510,000</li>
<li>Rental yield: 5.25%</li>
</ul>
Source: RP Data
Houses – Balgownie
<ul>
<li>Median price: $577,000</li>
<li>Rental yield: 4.06%</li>
</ul>
Source: RP Data
<a href="/news">Blackheath </a>
Houses
<ul>
<li>Median price: $380,000</li>
<li>Rental yield: 4.52%</li>
</ul>
Source: RP Data
<a href="/news">Kincumber</a>
Houses
<ul>
<li>Median price: $427,000</li>
<li>Rental yield: 4.87%</li>
</ul>
Source: RP Data
{mijopolls 37}
Photo of Moss Vale courtesy of Bidgee/<a class="mw-mmv-license cc-license" href="https://creativecommons.org/licenses/by-sa/3.0/au/deed.en" target="_blank">CC-BY-SA-3.0-au</a>.
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Which of McGrath’s regional NSW picks represents the best opportunity?

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We’re regularly told that one of the most important things about investing in property is to hold that investment for a long period of time. But how long do people tend to hold their properties for?
Here are the 10 most tightly held markets in Tasmania, for houses, based on the years held and the median prices. 
<ol>
<li>
<a href="/news">Stieglitz</a> 14 years $233,000 
</li>
<li>
<a href="/news">Forth</a> 14 years $350,000 
</li>
<li>
<a href="/news">Rose Bay</a> 14 years $428,000 
</li>
<li>
<a href="/news">Summerhill</a> 13 years $243,000 
</li>
<li>
<a href="/news">Swan Bay</a> 13 years $370,000 
</li>
<li>
<a href="/news">Waverley</a> 13 years $159,000 
</li>
<li>
<a href="/news">Kingston Beach</a> 13 years $455,000 
</li>
<li>
<a href="/news">Miandetta</a> 13 years $240,000 
</li>
<li>
<a href="/news">Mount Nelson</a> 13 years $518,000 
</li>
<li>
<a href="/news">Cambridge</a> 13 years $513,000</li>
</ol>
Source: RP Data
Another 61 suburbs ranked as having a hold period of 10 years or more.
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The 10 most tightly held Tasmanian suburbs: RP Data

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Whenever anyone needs to know information, it’s likely they head to the internet first.
For novice investors or first home buyers, it can be daunting to come in with little knowledge and needing to start afresh with your research.
We’re always suggesting searching the web and educating yourself first. But where to start?
Property Observer has compiled 10 websites for new buyers to consider:
<ol>
<li>
<a href="https://www.firsthome.gov.au/" target="_blank" style="line-height: 1.3em;">FHOG Online </a>This is a simple website that is incredible useful for Australian first home buyers. Providing a simple drop down box listing each state and territory, clicking one of these will take you to your location’s relevant government branch in charge of first home owner’s grant. For instance, in Victoria this is the State Revenue Office. Each of the websites you are navigated to includes information on grants, how to apply and the concessions that may be available around stamp duty and other costs. 
</li>
<li>
<a href="https://%20http:/realestateview.com.au" target="_blank" style="line-height: 1.3em;">realestateVIEW </a>If you're looking for your first home, you're no doubt familiar with the "buy" section of many different listing websites. The oft-neglected "sold" section as just as important - there, you can get a more realistic idea of how much your dollar can buy (rather than going by the sometimes optimistic price guides attached to homes on the market). There are more than a few listing websites out there, including realestate.com.au, Homely and other state-specific sites. 
</li>
<li>
<a href="https://www.moneysmart.gov.au/managing-your-money/managing-debts/trouble-with-debt/hardship-threshold" target="_blank" style="line-height: 1.3em;">Money Smart </a>Run by the Australian Securities and Investments Commission (ASIC), Money Smart is a really simple to use site that covers everything to do with your financial health. With informative articles on what to do if you’re struggling with your mortgage, how to invest in shares, and even how to choose travel insurance – it’s basically your handbook to staying financially savvy. Their property section isn’t anything to sniff at either. There’s a whole load of information about buying a home and what to expect, as well as investing in property, and you’ll hear from voices you’re likely familiar with already such as Barefoot Investor Scott Pape. There’s also tips on spotting a scam, and guides on getting through major life events, such as having a baby. 
</li>
<li>
<a href="https://home.id.com.au/" target="_blank" style="line-height: 1.3em;">.id (The population experts) </a>Providing information to many local government bodies across Australia, .id (which stands, appropriately, for Informed Decisions) is a one stop shop for demographic information about the suburb you’re considering, from migration statistics, to who actually lives there, and even economic profiles for each individual area. With beautifully presented maps, the latest Census data and forecasts of how the populations are changing, if you want to know about an area, and the areas that will grow, then this is where you should be looking. 
</li>
<li>
<a href="https://www.moneysmart.gov.au/tools-and-resources/calculators-and-apps/mortgage-calculator" target="_blank" style="line-height: 1.3em;">Mortgage repayment calculators </a>If you think you're ready to buy a house just because you've saved up a deposit, think again. Once you've committed to purchasing a home, you'll have to make mortgage repayments. To get an idea of how much you can expect to pay, most lenders offer calculators where you can input your deposit size, income, household size and monthly expenditure. 
</li>
<li>
<a href="https://www.myrpdata.com/" target="_blank" style="line-height: 1.3em;">Data providers </a>To help you in your search, there are multiple data houses that offer free market information, including suburb medians (to give you an indication of what a house in a certain suburb will cost), vacancy rates (to tell you whether the area's in demand with tenants) and how much previous owners have paid for particular homes. Big data providers include the Australian Bureau of Statistics, SQM Research, RP Data and Residex. 
</li>
<li>
<a href="https://www.asic.gov.au/" target="_blank" style="line-height: 1.3em;">Regulatory bodies </a>State departments of Fair Trading or Consumer Affairs exist to provide you with information about products, businesses, providers and service-people. If you're contracting a builder, using an agent or engaging any third party in the search for your home, it's not a bad idea to search for their name on a Fair Trading website or the ASIC website. If they've done something dodgy enough to warrant a warning to consumers from a regulatory body, you'll know to steer clear. <a href="https://propertycalculator.net" target="_blank" style="line-height: 1.3em;"></a>
</li>
<li>
<a href="https://propertycalculator.net" target="_blank" style="line-height: 1.3em;">Property Calculator </a>Do you want to know rental yields, cash flow, return on investment and a number of other figures quickly, easily and in one place? Property Calculator is the tool for you. It’s simple, a basic layout, and does what it says on the box without any complicated embellishments. 
</li>
<li>
<a href="https://www.houzz.com.au/?irb=1" target="_blank" style="line-height: 1.3em;">Houzz </a>If you love design or The Block, or perhaps you’re just looking for some interior inspiration for your new pad, Houzz is the place for you. With design ideas from top creative thinkers, articles, and all the lust-worthy property pictures you can imagine, it also offers you the ability to keep things in albums, much like Pinterest. You can keep different room styles and storage plans for later reference in your “Ideabooks” as well as ask for advice. It’s all a bit beautiful. 
</li>
<li>
<a href="https://realas.com/home/" target="_blank" style="line-height: 1.3em;">realAs </a>The newly launched app realAs promises to predict the ultimate selling price of homes currently on the market. While the young venture still needs some time to prove itself, making 64% of its predictions within 5% of the end sale price isn't a bad start. If the online valuation tool is as accurate as it claims to be, it could end up saving you a lot of time and help you get a better idea of how far you can stretch your budget.
</li>
</ol>
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The 10 free online resources every novice buyer should use

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The Reserve Bank of Australia’s warning of a housing bubble doesn’t apply to South East Queensland, according to leading house and land developer Ausbuild.
The Reserve Bank's meeting minutes revealed some concern around house prices and said that they were putting them under “close observation”, but Ausbuild's joint managing director Matt Bell said that South East Queensland’s situation is not a replica of Melbourne and Sydney.
“The housing construction sector is moving at a steady, sustainable pace, with land being released at a rate that is meeting demand in a responsible way,” Bell said.
“Prices are still competitive, and will continue to be so, given the steady and continuous rate of supply by developers in the market.”
The last thing Queensland needs, said Bell, is buyers getting the jitters when they’re just getting confidence to enter the marketplace post-GFC.
“Confidence is everything when people are looking to make what is the most significant purchase of their lifetime,” he said.
It appears observer Terry Ryder agrees with the comments that there isn't a bubble, particularly when you take Sydney out of the equation.
"The statistics suggest that all [the markets] are up by 10%, when in fact if you take Sydney out of the equation it's clear that this isn't the case," Ryder said. He notes that Sydney is playing catch up after many years of stagnancy.
While Ryder says that South East Queensland isn't "immune" to the effects of the market, at present it represents some of the strongest growth opportunities in the country with more growth markets in the area than in any other location in Australia.
He doesn't necessarily recommend the Gold Coast, but says that South East Queensland as a whole includes some of the more dynamic markets in the country.
Buyer's agent Todd Hunter, from Sydney-based wHeregroup, noted that there are many markets within South East Queensland, including areas where houses are undervalued at sub-$400,000.
He said that prices are starting to head northbound, and while Sydney and Melbourne have been booming for two years, South East Queensland is only just starting to heat up.
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RBA’s “bubble” warning doesn’t apply to South East Queensland: Ausbuild

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Genworth’s Homebuyer Confidence Index has risen 7.3 points in September, largely as a result of low interest rates reducing mortgage stress.
First home buyers that purchased over the past 12 months were significant contributors to the lift in confidence, at a high not reported since September 2012, while mortgage stress in general is significantly lower.
In fact, the index recorded that mortgage stress experienced by home owners has almost halved – falling to 15% in September from 28% in March.
Meanwhile, 2% of home owners were reported as behind their mortgage repayments, compared to the three year average of more than 3%.
Genworth Australia chief commercial officer Bridget Sakr said that they suspect the increase in confidence is a result of 13 months of historically low interest rates, as well as increased certainty around the May federal budget and the health of the economy.
“Almost half of surveyed home owners said they increased their mortgage buffer by making overpayments during the past 12 months,” said Sakr.
“Interest rates have virtually disappeared as a source of mortgage stress with just three per cent of struggling homeowners now citing this as a key factor of mortgage stress compared to 50% in September 2011.”
However, the Index also found a slightly increase in those who did not believe now was the time to buy, <a href="/expert-insights/buying/now-is-not-a-good-time-to-buy-a-sydney-or-melbourne-home-westpac-confidence-index">mirroring the results found by the Westpac Melbourne Institute Index of Consumer Sentiment</a>.
Sakr said this is potentially a result from an increase in property prices.
“While the Genworth Homebuyer Confidence Index has returned to a positive result overall, dwelling value growth of late and the ongoing challenge of saving a deposit means that many prospective first homebuyers are still finding it difficult to enter the property market,” she said.
The index is a survey of more than 2,000 Australians, which asks about the proportion of monthly income used to service debt, comfort levels around LVRs, repayment over the past 12 months and future 12 month expectations.
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Mortgage stress has halved, just 2% behind on repayments: Genworth

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Despite the Reserve Bank of Australia’s concerns about the housing market’s price growth, it appears that not all are changing their predictions of a period of rate stability and macro involvement isn’t on everyone’s radar.
Westpac’s chief economist, Bill Evans, has noted in their latest bulletin that they are not altering their rate forecast – expecting the first hike to be in 2015.
He notes that they expect the rise to be in 2015’s September quarter, driven by a global outlook, modest lift in consumer spending momentum, non-mining investment and a falling unemployment rate.
While house prices and credit growth are also expected to also be rising, he says it will not be at a sufficiently rapid pace to trigger a rate increase.
However, Evans does note that the RBA is likely to either maintain or step up its public warning around housing prices and investor activity.
“A reasonable conclusion is that Australia is unlikely to introduce the New Zealand style of direct macro prudential controls,” he said.
He noted that APRA may lift its intensity of communication to ADI boards and even impose another round of stress testing, though it’s conceded that banks already regularly conduct stress testing.
“It seems unlikely that, at this stage, it would adopt the policies of 2003 where it raised the risk weighting on home loans and increased the capital requirements of mortgage insurers,” he said.
His notes suggest that the current boom is not a replica to that of the early 2000s, despite its similarities.
“The 2000-03 period bears some comparison with the current situation. In that earlier period annual growth in credit to investors peaked at 30% and overall housing credit  growth peaked at 22%,” he said.
The household debt ratio had risen by “26ppts in just two years” and lending standards were seen to have eased.
However, compared to the current environment, clear differences emerge.
“Currently annual credit growth for investors is running at 8.9% with the 6mth annualised pace at 9.5%,” he said.
“Overall housing credit is running at a steady 6.7% annual pace. The household debt to income ratio has risen 4ppts over the last year and remains below its peaks in 2010 and 2007.”
While the debt to income ratio level is higher than it had been in 2003, he notes that they believe this understates the extend of Australian households’ deleveraging since 2007, including accumulating funds in offset accounts.
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RBA’s bubble warning has not changed ‘on hold’ prediction: Westpac

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With prices rising in Sydney and its surrounds, many investors will look further out to regional areas for cheaper entry level prices and higher yields.
But where should you look?
John McGrath has tipped four New South Wales areas “to watch” for growth in the state's regions.
<a href="/news">Moss Vale </a>
First on the list is Moss Vale – a “beautiful village area with diverse housing,” he says.
“Moss Vale is a 10 minute drive south of Bowral and offers better value but the same lifestyle,” he notes, pointing to median house prices approximately $185,000 cheaper than Bowral.
Houses
<ul>
<li>Median price: $400,000</li>
<li>Rental yield: 4.68%</li>
</ul>
Source: RP Data
<a href="/news">Mount Ousley</a>, <a href="/news">Balgownie</a>
North of Wollongong’s CBD, McGrath notes that the areas are popular with both young families and Sydney commuters due to its easy access to the Princes Motorway for just a half an hour trip to Sydney’s southern border.
“[It’s a] fantastic local village shops at Balgownie and a lot of housing diversity,” he says.
Houses – Mount Ousley
<ul>
<li>Median price: $510,000</li>
<li>Rental yield: 5.25%</li>
</ul>
Source: RP Data
Houses – Balgownie
<ul>
<li>Median price: $577,000</li>
<li>Rental yield: 4.06%</li>
</ul>
Source: RP Data
John McGrath's next two tips are on the next page. PLease click below.
 
<hr class="system-pagebreak">
<a href="/news">Blackheath </a>
Meanwhile, he points to the wonderful character homes in Blackheath on offer from $350,000 on quarter-acre blocks.
“It has a lively local village and is already benefiting from road upgrades enabling faster access to Sydney,” he says.
Houses
<ul>
<li>Median price: $380,000</li>
<li>Rental yield: 4.52%</li>
</ul>
Source: RP Data
<a href="/news">Kincumber</a>
Kincumber is the affordable neighbour of suburbs <a href="/news">Avoca Beach</a> and<a href="/news"> Saratoga</a>, and as a result offers good yields, he says.
It has “prospects for capital growth with today’s prices about 20% less than Avoca Beach and Saratoga”.
Houses
<ul>
<li>Median price: $427,000</li>
<li>Rental yield: 4.87%</li>
<li>Source: RP Data</li>
</ul>
Click on the names of the suburbs for more details. For other suburb information, see our free data pages here.
You might also want to read:
<a href="/expert-insights/investing/john-mcgrath-s-10-sydney-suburb-picks">John McGrath's 10 Sydney suburb picks</a>
<a href="/news/qld/john-mcgrath-s-five-south-east-queensland-hotspots">John McGrath’s five South East Queensland hotspots</a>
<a href="/news/act/john-mcgrath-s-three-canberra-hotspots-under-the-microscope">John McGrath’s three Canberra hotspots under the microscope</a>
Photo of Moss Vale courtesy of Bidgee/<a class="mw-mmv-license cc-license" href="https://creativecommons.org/licenses/by-sa/3.0/au/deed.en" target="_blank">CC-BY-SA-3.0-au</a>.
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John McGrath’s top four regional New South Wales hotspots

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The Western Australian government is starting an education campaign through EnergySafety around the responsibilities and obligations of property owners when it comes to overhead power lines.
Privately owned power poles and lines located on private properties are the responsibility of the home owner, explained Commerce Minister Michael Mischin and Energy Minister Mike Nahan.
“Property owners have always had a common law duty of care to maintain their assets and ensure they do not pose a danger to themselves or the community,” Mischin said.
“The state government is now alerting people to this responsibility to give them a chance to have their privately owned power poles and lines inspected by a licensed electrical contractor.”
Lines supported by wooden poles that have been in service for 25 years, or longer, may be near the end of their service life and thus unsafe, warned Mischin, who said they could be a potential bushfire danger.
Nahan said that Western Power and Horizon Power were not responsible for these private poles and lines.
“Private power lines are part of a customer’s electrical installation. Their maintenance and safety are purely an owner’s responsibility,” he said.
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Private power line on your WA property? Here are your responsibilities

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Former principal of The Strata Agency, Rachael Jena Kwaregen, has been sentenced to 15 months in prison with a non-parole period of nine months after pleading guilty earlier this year to stealing over $1 million from her strata clients.
The former Sydney agent headed the strata management company that collected levies from approximately 5,500 property owners across 240 Sydney-based apartment and commercial buildings.
Kwaregen had her <a href="/news/nsw/former-agent-pleads-guilty-to-1-million-misappropriation-as-nsw-fair-trading-told-to-better-regulate-strata-management">licence cancelled in late-January </a>and was disqualified from holding a licence or from being involved in the direction, management and conduct of the business of a licensee for a period of 15 years. 
Strata Community Australia (NSW) president Grey Haywood expressed his concern over Kwaregen's actions noting that she was not a financial member of SCA (NSW). Haywood said that members who act in this fashion would face possible expulsion due to their code of ethics.
Haywood said that they are grateful for the processes in place by New South Wales Fair Trading to protect consumers affected by Kwaregen’s actions.
“SCA (NSW) encourages all owners corporations to ensure that the strata managing agent they engage is a member of our organisation as this means they undertake ongoing education and training, adhere to the highest ethical standards of conduct and work to best practice,” he said.
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Former real estate agent sentenced to 15 months prison after stealing over $1 million from clients

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

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The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

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A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

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The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

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North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

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McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

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Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Jennifer Duke

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