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That first picture of your property understandable needs to be one of the best.
It should be inviting and presentable, the type of photo that makes your prospective buyer just want to click on it. Of course, it must also stand out – when a buyer is browsing through tens, if not hundreds, of similar listings it makes sense that yours needs to command attention.
Real estate photographers and real estate agents are increasingly becoming savvy on how to make that first listings picture pop. While some are making careful choices not to include the front façade in a listing, which makes sense if it’s not much to look at, others are playing with another factor to make them stand out – taking the photos by night.
We’re talking almost full darkness. While plenty take beautiful photographs in the sunset, or when it’s a bit darker to show off the lights of the property (for instance, this<a href="https://www.realestate.com.au/property-house-qld-pullenvale-117619943" target="_blank"> this Pullenvale, Queensland listing</a>, picture above, which plays beautifully with light on the exterior), it’s rarer but often effective to see a house in the late evening.
This South Australia, Northgate property at 5 Kingston Parade is a three bedroom, two bathroom offering for a price guide of $1,049,000 to $1,149,000. It’s being <a href="https://www.realestate.com.au/property-house-sa-northgate-107656001" target="_blank">marketed through Refined Real Estate Plympton</a>.
They made the decision to shoot the brightly-lit up façade in the dark. It matches its name – also called Lightsview – and does actually work to show off the modern lines of the house. Included in the listing is a shot of the home in the light and, comparing the two, we think it’s a wise decision to have used the evening shot as the main listing image.
Shooting the rest of the house at night works for some rooms, although it would’ve been nice to see some inviting sunshine in the garage shot.
Coupled with some descriptive copywriting, that invites you to “Enjoy stunning views of the sweeping city skyline, in the warmer months have a sip of champagne whilst sitting in your spa, alternatively, cosy up with a glass of red next to the huge roaring feature fire,” we think they’ve done a great job at conjuring up a luxury lifestyle with this listing.
<img src="/images/2014/08/26/nothgate%20aug%2026%20one.jpg" alt="">
<img src="/images/2014/08/26/nothgate%20aug%2026%20two.jpg" alt="">
From Spins &amp; Co Residential – Brisbane, a very wise decision was made to include the night-time shot on the listing as the main image. The six bedroom, four bathroom offering, <a href="https://www.realestate.com.au/property-house-qld-upper+brookfield-116644851" target="_blank">654 Upper Brookfield Road, Upper Brookfield</a>, benefits hugely from careful decisions are the light in the photographs. The palatial, stunning façade seems to lose something of its grandeur in the day-time listing.
The rest of the house has been, very thoughtfully, photographed during daylight hours, easily showing off the airy rooms and beauty of the gardens. It really does seem to have been a decision that pays off in terms of the presentation of this home.
<img src="/images/2014/08/26/upper%20brookfiled%20aug%2026%20one.jpg" alt="">
<img src="/images/2014/08/26/upper%20brookfield%20aug%2026%20tow.jpg" alt="">
This Queensland<a href="https://%20http:/www.realestate.com.au/property-house-qld-balmoral-117734083" target="_parent"> listing for 35 Ryan Avenue, Balmoral </a>through Place Bulimba has the main image being of the swimming pool in the night. While the sky is very blue, to the point of being questionably real, the property shines through the dark.
It’s a good choice of image as well, running with the pool, as the actual front façade shot doesn’t quite do the home justice.
It’s up for auction on September 18.
<img src="/images/2014/08/26/balmoral%20aug%2026%20one.jpg" alt="">
Another <a href="https://www.realestate.com.au/property-house-qld-buderim-117093903" target="_blank">Queensland offering, at 4-6 Pacific View Parade, Buderim</a> also uses darkness to great effect in its main photo. Clearly the shoot took place over a late-afternoon and evening, with some lighter than the others, but the cosyness that this property is given from the gloom, coupled with bright lights, is clear.
Looking for $1,175,000, the five-bedroom, four-bedroom property is noted as being under contract. We think the dimness really suits the resort-style home, allowing it to show off some pretty fancy light fittings.
<img src="/images/2014/08/26/buderin%20aug%2026%20one.jpg" alt="">
However, this home’s night time shot is a little questionable. <a href="https://%20http:/www.realestate.com.au/property-house-qld-gatton-117260795" target="_blank">The Gatton, Queensland listing at 72 Highway Avenue</a> could really do with some lights towards the front of the driveway, or a different angle for the photo, particularly for their main image. In fact, some of the other day time shots might actually have been preferable.
<img src="/images/2014/08/26/gatton%20aug%2026%20one.jpg" alt="">
<img src="/images/2014/08/26/gatton%20aug%2026%20two.jpg" alt="">
{module When do you think the best time is to take a feature image for a home?}
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jduke-EHk3XBmHkn

Do atmospheric late-evening listings photos work?

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Yesterday, Property Observer shared Onthehouse’s data for Sydney’s top streets with $1 million plus properties, in regards to the percentage of houses valued at this amount.
In fact, <a href="/news/nsw/23-4-of-sydney-metro-properties-over-1-million-here-s-the-richest-street">almost 25% of Sydney’s metro properties were valued at $1 million</a> and upwards.
We don’t want Sydney to have all the fun. Onthehouse have also shared the mainland states and territories’ top streets with the highest percentages of houses over $1 million.
Here are the seven streets you should know about:
<img src="/images/2014/08/26/onthe-aug-26-one.jpg" alt="">
Source: Onthehouse.com.au
Which street were you most surprised about? 
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The priciest streets in the mainland capitals: Onthehouse

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Launched in June, the Northern Territory’s Remote Home Ownership Program looks to move public housing tenants in remote communities into owning a property.
It focuses on the Tiwi Islands, Groote Eylandt and Bickerton Island and seeks to allow tenants to become home owners.
Loan products will be provided by Indigenous Business Australia, including services and insurance, for the first 12 months. After the sale, the buyers will be given a special incentive grant of $20,000 for home upgrades and maintenance.
The first homes are expected to be put up for sale by the end of the year.
Housing Minister Matt Conlan said that they’re currently in the process of discussing the program with the communities and stakeholders.
This includes the traditional owners, land councils, regional councils, housing reference groups and government engagement coordinators.
 “It is clear there is an appetite for home ownership is in these communities with 11 finance applications already lodged, which is fantastic to see,” said Conlan.
 “We want public housing to be a pathway to home ownership, not an end in itself and it is pleasing to see this supported by these communities.”
Those areas with long-term township leases include Wurrumiyanga on Bathurst Island, Milikapiti on Melville Island, Angurugu and Umbakumba on Groote Eylandt and Milyakburra on Bickerton Island.
The program has been provided $4.5 million for the next three years, and this figure could see up to 50% of remote housing stock made available to tenants to buy.
“The price of properties will be determined via an independent evaluation and it is expected that most homes would be available for purchase in the $50,000 to $150,000 range,” he said.
The next stage is to request formal expressions of interest from tenants. This will then be followed by an eligibility assessment.
Photo courtesy of Wikimedia COmmonso
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Northern Territory program promoting home ownership in remote communities

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The word ‘depreciation’ is bandied about a lot and you may have noticed it being used more often around tax time.
This isn’t a surprise – depreciation is one thing that you can claim on your tax return every year to make your property investment’s overall cash flow a little bit better.
But what is it and how do you use it?
Think about depreciation like buying a new car. The second you drive it out of the car garage, as is often said, it has lost a bit of value. Over time, it further loses its re-sale value. This is a little bit like depreciation on property. Over time, your property depreciates.  You may be thinking “but I am investing for the property value to go up!”. Correct. However, while land appreciates in value, the building itself and all your fancy carpets and paint slowly drop in value over time.
This is what is called ‘depreciation’. What this means for property investors is that you can claim back a portion of these losses in your tax return each year – without it actually being a loss directly from your pocket. You are best placed to have a quantity surveyor assess your property and create what is known as a depreciation schedule. This figures out, based on what is in your property (and any renovations that have occurred), how much it will depreciate by over its life span.
As a rule of thumb, brand new properties have more depreciation to claim – as they haven’t depreciated at all yet – when compared to an equal size and quality established property. These figures can range significantly, but have been known to be in the thousands of dollars.
Depreciation isn’t limited to property, although we’ll obviously discuss it in those terms. For instance, businesses who purchase a vehicle, or equipment, can also claim depreciation. <a href="/expert-insights/investing/claiming-depreciation-is-your-key-to-increasing-cash-flow-on-commercial-properties">Commercial property investors are also able to use depreciation. </a>
Want more? Here’s what to read next
<a href="/expert-insights/finance/your-guide-to-property-depreciation">Your guide to property depreciation</a>
How to: Check your depreciation entitlements
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What is ‘depreciation’ and how can it help me? Investment terms explained

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Onthehouse.com.au has looked into where Australia’s $1 million plus property offerings are, even narrowing down to the street level.
Across the country, New South Wales was found to be the wealthiest state, when considering residential property. Of the metro suburbs, 23.4% of dwellings were valued at over $1 million in 2014.
Here are the 10 suburbs that <a href="https://www.onthehouse.com.au/" target="_blank">Onthehouse</a> found have the most $1 million properties by percentage of dwellings – with most of them in the 99.99% mark and making joint first.
<img src="/images/2014/08/25/apm-aug-25-one.jpg" alt="">
When looking at streets, however, it was a Mosman road that came in on top.
See over page for the top 10 streets and the five up and comers to watch
<hr class="system-pagebreak">
Mosman came in as the eleventh wealthiest suburb when considering it by number of dwellings, however managed to take out top spot on the overall list.
<img src="/images/2014/08/25/apm-aug-25-two.jpg" alt="">
The high number of New South Wales suburbs housing million dollar properties came as no surprise to Onthehouse.com.au consulting analyst John Edwards.
“Within the Top 10 alone, no suburb drops below 99%, and while Mosman didn’t make the Top 10, the fact it hosts Australia’s number one street still cements its position as one of Australia’s most prosperous localities.”
He noted that with Australian house prices at a high, they are increasingly breaking the million dollar mark.
“The fact is, many of our property millionaires may not even know the value of their property. While this latest data has revealed our nation’s most exclusive ‘millionaire rows’ – you don’t necessarily have to live in Mosman or Vaucluse to boast a million dollar home,” he said.
Over the coming year he expects the numbers in the million dollar spots to increase, and he noted that it was particularly interesting to see the areas that had topped the chart as the areas with the biggest increase in number of million dollar properties over the past 12 months.
These included:
<ol>
<li>Castle Hill</li>
<li>Ryde</li>
<li>Epping</li>
<li>Cherrybrook</li>
<li>Carlingford </li>
</ol>
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23.4% of Sydney metro properties over $1 million: Here’s the richest street

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The Real Estate Buyers Agents Association of Australia (REBAA) is warning prospective buyers to double check that the buyer’s agent they are choosing is independent and licensed, especially when they’re considering property interstate.
REBAA president Jacque Parker said that more must be done to protect consumers from unprofessional operators.
“Often an agency can be licensed in one state but not the other and still act for purchasers of property interstate,” warned Parker.
“Every state and territory in Australia has different licensing requirements so you need to make sure that the agency you’re dealing with holds a real estate qualification for the state that you’ll be buying property in.”
If the buyer’s agency is licensed, it means that a minimum of one agent within the agency is qualified.
“Currently there is no barrier to anyone setting up and practising as a buyers’ agent in an interstate location,” she said.
She also warned about double checking the independence of your buyer’s agent, suggesting that some are working for a vendor or a developer at the same time and receiving a commission from both sides of the fence.
The question she says buyers should be asking: Are you licensed in that state and are you an exclusive buyers’ agent? Exclusive agents are those who only receive payment from the buyer.
If the answer is no, Parker says that it’s time to ask whether they’re really working in your best interest.
REBAA supplied these minimum buyer’s agents training requirements across the country:
<ul>
<li>South Australia</li>
</ul>
Certificate IV in Property Services (real estate) to obtain registration and work as a buyers agent representative (or sales representative) for a fully licensed agent.
Full licence (Registered Land Agent) if you wish to open your own agency (buying or selling) - Complete Diploma of Property Services (Agency Management).
<ul>
<li>New South Wales</li>
</ul>
Need to have either full real estate licence (or dedicated buyers’ agent licence)
You can’t act on behalf of another person as a buyers’ agent without the right qualifications.
<ul>
<li>Queensland</li>
</ul>
A full real estate licence.
<ul>
<li>Victoria</li>
</ul>
Complete Certificate IV for those wanting to run a licensed buyers’ agency, which according to the Real Estate Institute of Victoria takes about eight weeks to complete.
Must complete 12 months practical experience within three years of applying for a licence.
Note: You can check with <a href="https://www.consumer.vic.gov.au/businesses/licensed-businesses/estateagents/public-register" target="_blank">Consumer Affairs Victoria online public register of licensed agents</a>.
<ul>
<li>Tasmania</li>
</ul>
Requires a full real estate agent licence to transact in property whether buying or selling.
Diploma of Property Services (agency management).
<ul>
<li>Western Australia</li>
</ul>
Be at least 18 years old.
Be a person of good character and repute and a fit and property person to hold a licence.
Have access to sufficient assets and financial resources enabling them to comply with all the requirements of the Act.
Understand fully the duties and obligations imposed upon agents by the Act.
<ul>
<li>Northern Territory</li>
</ul>
A full real estate licence.
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Investor warning: Is your buyer's agent properly licensed?

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RP Data’s statistics revealed four suburbs across Australia where the median price was listed under $100,000. 
Property Observer couldn’t help but ask “Why are they so cheap?”
Digging a little deeper, we decided to discover just why these median recording prices were so suppressed.
Of course, small regional areas – as these tend to be – are usually more volatile in their medians due to the infrequency of transactions, particularly when looking at units. Some of these areas have very few apartment blocks. Investors are always urged to understand what the median price is, and how it is affected by the type of properties that transact over a period. Here are four things to know about the figure before relying on it.
Some areas will be cheap due to their location - far from any employment hubs - while others will have a different makeup that ensures their prices are recorded low. There's a reason that you're unlikely to have heard of some of these four areas - they're not all bustling hubs that property investors are used to looking at. However, this doesn't mean they don't have their opportunities - while re-sale may be a tricky situation and something to consider, the yield figures are strong on paper and at least one listing seems to suggest that rental returns may be attractive.
<ul>
<li><a href="/news">Gin Gin</a>, Queensland: $41,000</li>
</ul>
The tiny rural township Gin Gin, about 48 kilometres inland from Bundaberg, is the cheapest across the country when looking at the area’s median price for units, according to RP Data.
Houses in the area were recorded at $216,000.
Current listings suggest that it may have been a month of cheaper sales for Gin Gin, with apartments on the market for around the $200,000 mark. The cheapest offerings are blocks of land from $33,500 – including some in an eco-park.
According to the 2011 Census, the suburb of Gin Gin had just 157 people, while the state significant area had around 5,000.
It seems that infrequent sales are skewing the median - with just seven recorded by RP Data to calculate their most recent median.
<ul>
<li><a href="/news">Mission Beach</a>, Queensland: $69,000</li>
</ul>
Tourist township Mission beach in the Cassowary Coast Region is the lowest priced beachside apartment currently listed at $150,000.
The median house price is set at $342,000.
Property Observer did find a number of $60,000 sales on Sandy Close and Iluka Close for blocks of land that had been tagged as units over June and July that may have skewed the median. There was also a $50,000 sale on Sandpiper Close. These appear to be part of Oasis Mission Beach – Iluka Close was part of Stage Two.
Again, just five sales were recorded for Mission Beach units. It appears that this figure is highly unusual, and not indicative of what you'd be paying for a unit - with a gross rental yield statistic at 25.34% and rent at $335 per week (which aligns with what is currently seen in rental listings), it was a struggle to find a unit under $100,000 that would return this figure.
As a state suburb, the 2011 Census recorded just 765 people in residence
<ul>
<li><a href="/news">Risdon Park South</a>, South Australia: $84,000</li>
</ul>
It appears that sub-$100,000 options are certainly on the cards for those looking to buy in Risdon Park South’s surrounding suburbs in <a href="/news">Port Pirie</a>.
At present no listings for the immediate Risdon Park South area were found. Current listings include an $89,900 “maisonette home” or three-bedroom, one-bathroom unit in Port Pirie. However, it is under offer at the moment.
Meanwhile, also in Port Pirie, a one-bedroom, one-bathroom offering for $99,000, which markets itself to investors or retirees, is available.
Port Pirie is the larger township, and as of the 2011 Census Risdon Park South was home to 1,975 people.
It seems a number of duplexes, including one on Hutchinson Street for $75,000 and one on Plenty Street for $80,000, may be keeping the median price down. One property listed in the area, for $85,500, is a solid brick maisonette offering.
In total, 12 unit sales were noted by RP Data. They recorded the median house price at $275,000.
<ul>
<li><a href="/news">Hamilton</a>, Victoria: $85,000</li>
</ul>
Currently, in Hamilton, there is one listing under $100,000 – a one bedroom, one bathroom flat asking for $95,000 on Moore Street, currently rented at $120 per week. Two-bedroom units span from $122,000 upwards.
Hamilton’s median house price sits at $197,000.
Located 300 kilometres west of Melbourne, or a three to four hour drive, it’s best known as a sheep grazing and agricultural area, however as a state suburb is recorded as housing 10,104 people in the 2011 Census data.
Just 12 unit sales were recorded. Suggesting a 13.46% gross rental yield, on $220 weekly median advertised rent for units, it appears that while in reality the yield may still be strong - you'd be looking for closer to the $200,000 bracket in a purchase to achieve the $220 rent.
Keen for more data? You can peruse our free suburb data here.
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Why so cheap? The four suburbs with median unit prices sub $100,000

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With property prices soaring it’s no surprise that first time buyers are increasingly looking at properties that need a little bit of work.
These “doer upper” or “renovator’s dream” properties offer huge potential for adding value through a renovation. However, novice investors and buyers do not want to be going in unsure of what they’re getting themselves in for.
Firstly, new buyers should look for properties that need what is called a ‘cosmetic’ renovation first. If you don’t know what this is, you <a href="/expert-insights/what-is-a-cosmetic-renovation-investment-terms-explained">can read our explanation here</a>, but essentially it's a light fix up that doesn't require structural changes or, usually, any council approvals. These are the best projects for novice renovators and homebuyers and the least likely to see you make poor decisions.
The pitfalls around renovating can be many and they can be very expensive. From overcapitalising, to DIY-ing where you shouldn’t, you must go in with a plan in mind.
However, it doesn’t always have to cost you a fortune. Reno Kings’ Paul Eslick suggests focusing on the following areas for bang for your buck:
<ul>
<li>A new coat of paint</li>
<li>Install a fence</li>
<li>Get your gloves on and do some light landscaping</li>
<li>Laminate and tile paint in the kitchen and bathroom (also consider replacing hardware such as taps and handles)</li>
<li>Window furnishings can make your home look a lot better, consider straight venetian blinds</li>
<li>Better lighting</li>
</ul>
These simple things should help improve any lacklustre purchase.
Renovating for Profit’s Cherie Barber treats renovating as a scientific process. Here is her eight-step process that she follows to get the maximum equity out of her properties in the quickest time possible:
<ol>
<li>
Structure and strategy - The structure in which you purchase is crucial to ensuring you are taxed efficiently at the very end of the process. Should you purchase in a trust, SMSF or company structure? - Decide on the strategy upfront: Is it buy/renovate/hold, buy/renovate/sell or something else? 
</li>
<li>
Suburb due diligence - Investors must know suburbs down to a street level. Pointing to her target suburb of <a href="/news">Balmain</a>, she explained that she knows where the negative and positive price pockets are, or where the prices change, and the reasons for this. - Ensure you're targeting the right type of suburb for the renovation you intend to undertake. Middle ring and outer areas tend to suit cosmetic renovations, while inner city areas tend to favour structural. 
</li>
<li>
Pricing due diligence - The real estate agent's job is to make the vendor money, never forget this.  - Ensure you are looking at true comparables - your suburb due diligence should assist you with this process. 
</li>
<li>
Property due diligence - Ensure you're not purchasing a property with major defects you cannot rectify under your budget (think about the hidden problems, such as termite damage or bad wiring). - Check that the property stacks up for the majority of buyers in the area. Your demographic is crucial, and you should be thinking about a property as a product. - Calling council and a number of other local experts will save you money in the long run. 
</li>
<li>
Acquire - The purchasing process and negotiation can be crucial for getting the price right. Ensure you enter in unemotionally and knowing the value (pricing due diligence). - There are a number of different conditions, requests for early access and similar that can be asked for at this part in the process. 
</li>
<li>
Council approval (usually for structural renovations) - The earlier this part of the process is started the better. Investors should be prepared for councils to take longer than is often stated on their websites. - To get an idea of how long the process might take, check online and see what has already been approved and the time frames. Expect it to take longer. 
</li>
<li>
Renovate - Get some good tradespeople and treat them well. It can often take a number of renovations to get your team selected. - Keep organised, keep timelines and ensure effective communication. - Avoid being the DIY-er unless you have done it before effectively. 
</li>
<li>
Sell/Rent - While you should have been clear on which of these approaches you were going to take since step one, it's now important to ensure you approach the best real estate agents and property managers for the job. - Treat choosing agents as an interview process, rather than solely basing it on personality. - Ensure that at any opens, the changes you have made to that process are highly visible and communicated to potential tenants/purchasers.
</li>
</ol>
You might also want to read <a href="/expert-insights/building/twelve-key-points-to-consider-before-you-start-home-renovations">Lisa Montgomery’s 12 things to consider before you start your home renovations</a>.
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Looking for a “renovator’s dream”? Here’s what you need to know first

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Buying a property is the “Australian dream” and in our national psyche. However, not every person is quite ready to buy a property.
Here are 10 reasons that may suggest you’re not quite ready yet.
<ol>
<li>
You’re not ready financially If you haven’t got the required deposit yet, or you’re going to be financially stretching yourself to cover repayments, then it might be a sign you shouldn’t be buying quite yet. You might also have other financial goals, such as starting a business, that don’t align with owning a property. Be honest with yourself about what you can afford and your comfort level associated with debt. When you manage to reach that bracket then you can consider buying. In the meantime, keep saving and learning about real estate – just because you’re not ready today, doesn’t mean you won’t be ready in six months or longer. Buying a property is a huge financial commitment,and so speaking to a broker or a financial planner could be worthwhile considerations as you get your finances in line. 
</li>
<li>
You’re not ready personally Perhaps you’re enjoying the flexibility of your lifestyle as a renter, or you have to regularly travel for work – these may suggest to you that owning a home isn’t quite the desired situation for you yet. On the other hand, if you’re considering an investment property, you need to ask yourself whether you’re personally ready to be a landlord. If the idea of having tenants potentially breaking things in your home, or just making it messy with day to day living, fills you with dread, then you need to reconsider. 
</li>
<li>
The properties you want are out of your skill set This ties back into our first point about finances, however it’s also about your plans with that property. If you’re hoping to renovate, but don’t have extra savings on top or any knowledge of renovating – then you might not want to take on this particular burden. You may consider bringing in experts first, however don’t consider DIY-ing a project with little knowledge about it. Know your limits - don’t head in looking to do a knock-down rebuild with no experience. 
</li>
<li>
The market is in free-fall Do your research, and don’t ignore the experts. If you’re being warned about collapsing property prices in an area and you don’t have good reason to think they’re wrong – you may want to think twice and set about researching more. Even a flat market for an investor may cost you in “opportunity cost” elsewhere, so pick wisely, study up on a location and listen to other people who know more than you do. 
</li>
<li>
Insurance is the last thing you want to think about Home ownership comes with a significant amount of responsibility, particularly if others are implicated by your decision – such as a partner or children. If you are paying the loan, and you’re not interest in income protection should something happen to you, then alarm bells should be ringing. Insurance on the home, landlord’s insurance if necessary and other policies should be of interest to you. Do not ignore this simple safety net. Similarly, if your job is on shaky ground, then you might want to reconsider taking on another financial commitment. 
</li>
<li>
The market is too hot While there’s no guarantee waiting will be beneficial for you, it may see fewer bidders at auction and a little less competition on the day. If the market is booming, it might just be time to look elsewhere or take a step back. Do not be forced into buying because it seems “everyone else is”. As in point two, this is a personal step and you need to buy for the right reasons, not because of market hype. 
</li>
<li>
Renting is a lot cheaper If you’re looking for a home, but owning is going to be substantially more costly on an equalized week-by-week basis, then you might want to have another think about purchasing. Yes, there are multiple reasons you’d consider buying a home beyond the day to day financials, however it doesn’t stack up for everyone. You might want to <a href="/expert-insights/renting-v-buying-how-does-it-stack-up-for-you">read our Renting versus Buying debate</a>. 
</li>
<li>
The building and pest inspection is a shocker If the rectification work noted on that building and pest inspection works out to be a stack load more money than expected, and the vendor isn’t budging on the price, then you want to steer clear. Unless you’re getting the property at a steal – in which situation you’d want to be wondering why it’s so cheap – it’s not always worth the aggravation. 
</li>
<li>
A lot of properties are being developed This point is down to your own research and analysis of an area. However, if you’re looking to buy a standard apartment and a vast number of other apartments are slated for development, it should have you a little concerned about how supply may affect your re-sale value. You also want to consider if any of your views are being built out, or if congestion will become unbearable. While local development isn’t always a negative, it can be the nail in the coffin for your own property purchase. 
</li>
<li>
You don’t want to cover maintenance Part of owning a house, and keeping it in good condition for future re-sale, is maintenance. Whether it’s fixing leaks, paying for things to be re-painted, or just chasing the council round the clock to prune back trees or get neighbours to move their trash – it can be hands on being a home owner. Where renters can call the property manager and ask for a fix that doesn’t always come, home owners will need to proactively do these things themselves. If paying for maintenance and upkeep doesn’t suit you, it might be that property ownership isn’t for you quite yet.
</li>
</ol>
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The 10 signs that you may not be ready to buy

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When looking to buy a property, the one thing that concerns every purchaser is how much the property is really worth.
As one of the most expensive purchases of lives, it’s understandable to be concerned about overpaying.
However, determining “market value” is trickier than it sounds. While it is effectively true that "market value" is whatever the market will pay for the property when it sells, this advice doesn’t do new buyers, or even experienced buyers, any favours when they’re working out what they should prudently offer or bid for a home.
The methods to work out what you should pay are varied and some of them require a lot of time and effort.
Heading to the suburb’s median price may be on many a person’s “top” thing to do to get an idea of value in a suburb. However, this is fraught with difficulty. Here are four things you should know about median price first, before deciding to use this as a way to determine value (it’s not).
With median prices ruled out, what are we left with?
Buyer’s agent Patrick Bright says that it is through comparative market analysis that buyers will work out the best price to pay. That is, looking at other properties on the market or hose that have recently sold and using this to get a gauge for what this property should sell for. This isn’t a bad technique.
He suggests that 100 comparable homes are inspected. Quite an undertaking.
“When I started in real estate as a selling agent I didn't really have a clue what homes in the area were worth. The owner of the real estate office said to me, 'Patrick, you need to learn what the market value is of homes in the area. I want you to go out and see as many properties as you can in the next few weeks'. He told me I had to inspect each home and document all its relevant features,” writes Bright.
“I decided that I was going to inspect 100 properties and so I pretended to be a home buyer for about four weeks. I covered four or five suburbs, looked at a little over 100 properties and took notes on each one. I wrote down the asking price and what I thought they were worth and followed them up after they'd been sold,” he explained.
He attended a lot of auctions as well, and by the end of the month he was fairly confident about what the market was doing and what properties were worth.
He says this is some of the best advice he has ever received and <a href="/expert-insights/investing/how-to-determine-a-propertys-true-value-patrick-bright">while it’s a lot of work, it’s worthwhile</a>.
Meanwhile, Michael Matusik points to rental returns as a key factor in determining value, particularly for investment properties. He says that they should really be used as the benchmark.
“And the 5% gross rental return – the old school marker which essentially converts to $1 in weekly rent for every $1,000 spent buying a property – is still the most accurate measure, in my opinion, to help determine investment value,” he writes in his explanation.
Technology is increasingly looking to make our property research easier. The new app RealAs looks to present predictions of what the properties are worth, and notes that they do so with a high degree of accuracy – factoring in features like what is on the market and comparable aspects.
Sadly, the algorithm is a closely guarded secret and is not available for everyone to play around with – but it <a href="/news/can-this-algorithm-determine-what-a-bad-property-is">does allow you to plug in any property that’s on the market right now and see their estimate</a>.
Then there’s the option to pay for a professional valuation. There are four types:
<ol>
<li>Full valuation 
</li>
<li>Short form or pro forma valuation 
</li>
<li>Restricted valuation (to include “restricted assessment”, “kerbside” and “drive by” valuations) 
</li>
<li>Desktop (to include electronic valuer review - EVR)</li>
</ol>
Source: RP Data
If you want to know the differences between these valuations, and how each of them is calculated, you can <a href="/news/how-much-is-my-home-worth-judging-a-propertys-value">read our in-depth explanation here</a>.
See over page for the things you must know about valuations.
<hr class="system-pagebreak">
A valuation may appear to be the natural way to answer this question of what your property is worth, so let's take a closer look.
<blockquote>
MUST KNOW ELEMENTS:
<ul>
<li>It's not an appraisal</li>
<li>They're not an exact science</li>
<li>There are multiple types of valuation</li>
<li>Comparables are heavily relied upon</li>
<li>You can assist the valuer</li>
</ul>
</blockquote>
There are also many reasons why you’d want to get an independent valuation – observer<a href="/expert-insights/investing/five-great-reasons-to-get-an-independent-valuation"> Cameron McEvoy aptly describes five crucial reasons you’d consider this</a> - and so it pays to be aware of what is involved.
Here are five ‘must know’ elements of valuations:
<img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">It’s not an appraisal
You may have had an appraisal with a real estate agent and now believe that your home can fetch in excess of $630,000 on the current market. This may be the case, however a real estate agent’s appraisal is not a valuation and will not be accepted by the bank as such.
While most real estate agents act with professionalism, investors must be aware that it’s not unheard of for real estate agents to alter the appraisal they provide you to match your expectations and to be fairly bullish with their appraisals to secure a listing.
A valuer, however, is immune to these pressures, tasked with one job and one job alone – valuing your home.
<img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">They’re not an exact science
It will be of no surprise to any savvy investor that figuring out the price of a property is never an exact science, even for those trained in the valuation field. Similarly, obtaining two different valuations also isn’t an unheard of occurrence and is the reason many investors will head to a different bank to obtain financing, particularly after a renovation.
Observer <a href="/expert-insights/investing/the-murky-waters-of-bank-valuations-mark-armstrong">Mark Armstrong refers to bank valuations as being ‘murky waters’</a>. “Remember if a valuation comes in too high and the bank loses money on the loan then the valuer maybe legally liable,” he notes, which may suggest why there is also a general impression in real estate that valuers are conservative with their estimates.
Similarly, it has been pointed out time and time again, such as <a href="/expert-insights/investing/home-valuations-can-be-subjective">by Mal James in this article</a>, that valuers are subjective. This is because they are human beings, and they act with the information provided and their knowledge to come up with the best possible response.
<img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">There are multiple types of valuation
While we’re focusing on a fairly rigorous in-person valuation, there are a number of different types of valuations. From the DIY desktop valuation (which have <a href="/expert-insights/investing/diy-website-property-valuations-mostly-askew">varying results of accuracy</a>), to the ‘kerbside’ drive by valuation, be aware that not all are created equal.
RP Data lists four different types of valuation that you'll want to understand:
<ul>
<li>Full valuation</li>
<li>Short form or pro forma valuation</li>
<li>Restricted valuation (to include “restricted assessment”, “kerbside” and “drive by” valuations)</li>
<li>Desktop (to include electronic valuer review - EVR)</li>
</ul>
<img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">Comparables are heavily relied upon
One of the major aspects that valuers look at to come up with a final figure is that of 'comparables'. That is, recent sales in your area that are close to your property in location and type. A valuer will be required to judge whether your property is superior or inferior to these sales, and so adjust their valuation accordingly.
If you want to get an idea of how the valuation may stack up, it'd be worth finding out the latest sales that they will be looking at. This also means that for properties in remote areas, or unique style homes, it will be trickier for the valuer to come up with a figure and, therefore, more subjective and down to interpretation.
<img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">You can assist the valuer 
As with any property, present it with its best foot forward for the best change of securing a good valuation. While valuers do not want to be harassed, told how to do their jobs or provided information that could sway them against the numbers, you can be helpful and provide information about improvements undertaken since purchase.
Be on site, ready to ask and answer questions, and have all the information about your property on hand.
Despite the reasons to get a valuation, there’s always the other side of the argument. If you’re considering a valuation, you may also want to hear <a href="/expert-insights/investing/property-valuations-a-waste-of-time-and-money-terry-ryder">Terry Ryder’s thoughts on why valuations are a “waste of time and money”</a>. Late last year, Property Observer also covered a heated debate that asked for an ‘overhaul’ of the valuations industry.
Tips for those wanting to get the best from a valuer:
<ul>
<li>Provide them a list of comparable sales (potentially inside the same project, as well as some that are not). While not all valuers will use them, some will. 
</li>
<li>Apply for finance six months before completion, not six days and if you find the valuation comes in low it gives you time to get a third and a fourth. 
</li>
<li>Attain your own valuation, using a valuer that is on your bank's panel of valuers. 
</li>
<li>Ask to see a soft valuation so you can check the comparables used and the comments made. 
</li>
<li>Bear in mind that the valuer often has a different valuation for mortgage purposes as opposed to sale purposes. But mainly: 
</li>
<li>Do your research beforehand.  Go out and look at 100 or even 10 before you make a purchase decision. If you've done your research you should be confident it will value up.</li>
</ul>
Source: CPM Realty
FURTHER USEFUL READING 
<a href="/expert-insights/finance/how-to-get-property-valuations-right-terry-hayes">How to get property valuations right</a>
<a href="/expert-insights/investing/property-valuation-101">Property valuation 101</a>
<a href="/expert-insights/letters-to-the-editor-valuation-experiences">Letters to the editor: Valuation experiences</a>
</body></html>

How to: Determine market value so you don’t overpay

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

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

Joel Robinson

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

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

Sherpa sells out Flourish Oasis in booming Palm Beach

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

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens, rooftop open space and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Ceerose, founded by Edward Doueihi in 1998, has become one of Sydney's more active apartment developers, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Jennifer Duke

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