<html><body>
Today is the fifth Reserve Bank meeting of 2014.
RBA Day, as it’s unofficially called here at the Property Observer office, has the whole industry pausing to check in at 2.30 – regardless of how sure they are that any change, or non-change as has most recently been experienced, is likely to be announced. Until 2.30, it's anyone's guess what could happen - and of course, "anyone" does indeed guess.
Forecasting, predicting or, indeed, downright guessing the RBA's next move, is now a favourite pass time of everyone from economists from the head of our big four banks, to the first home buyer tuning in to the news. We <a href="/expert-insights/finance/interest-rate-stays-on-hold-did-our-experts-get-it-right">regularly survey different experts and ask them to explain their reasoning</a>, which has provided some interesting insight into how the Reserve Bank may balance the different market forces in their own decisions.
However, just as it's not always clear when the RBA will make a change, and what that change might be, it’s also not always clear what the impact actually is.
Can extended periods of low interest rates really cause a property bust (as <a href="/expert-insights/investing/economists-warn-of-a-property-bust-if-interest-rates-stay-too-low">warned by some economists in this article here</a>)?
Do lower interest rates actually cause people to jump into the property market (as was <a href="/expert-insights/investing/effects-of-lower-interest-rates-clearly-evident-in-housing-market-christopher-kent">discussed at the Bloomberg Australia Economic Summit here</a>)?
The real impact of interest rates is heavily debated. Observer Catherine Cashmore, back in January 2013, argued that <a href="/expert-insights/investing/interest-rates-do-little-to-influence-australian-property-prices">interest rates actually have very little effect on property</a>. And then, last month, observer <a href="/expert-insights/finance/interest-rates-are-more-important-than-they-have-ever-been">Pete Wargent called interest rates more important now than ever before</a>.
"Pundits like to argue that in theory interest rates have little impact on housing markets, but due to the deregulation of the Aussie financial system and higher household debt today, this is incorrect, as partly evidenced by the impact of rate cuts since 2010," said Wargent.
"Shifts in interest rates were formerly somewhat limited in their ability to impact housing markets - since both lending and deposit rates were strictly controlled - yet today the availability and expectations around the cost of capital can be a key driver of market sentiment," he explained.
Regardless of who is right or wrong, it doesn’t stop the first Tuesday of the month being of fascination across the country and something that may have at least some impact on sentiment, if nothing more material.
Quick terminology
RBA: The Reserve Bank of Australia. Also, The Reserve Bank, Reserve Bank, The Reserve.
On hold: No change from the Reserve Bank
Basis points: One basis point equals one hundredth of a percent. So 100 basis points equals 1%. You’re most likely to hear this in terms of 25 basis points (0.25%) or 50 basis points (0.50%) as these are routinely the most used changes from the RBA.
The Official Cash Rate (or Cash Rate): The term describing the rate of interest on which the Reserve Bank charges on loans to banks. Some use this term interchangeably with interest rate.
Quick answers to FAQs 
When does the Reserve Bank meet?
The Reserve Bank meets on the first Tuesday of the month, excluding January. They announce their decision at 2.30pm.
Why did they make a decision?
Currently, Governor Glenn Stevens publishes his meeting minutes at the same time. You can read these on Property Observer. They use a range of different data sets to make their choice, including looking at the housing industry.
Does this mean my home loan rate will change?
While some years ago it was expected that the banks would change their interest rates in line with the Reserve Bank, in recent times this has changed. The banks and lending institutions now have their own meetings to decide on whether to pass on changes, or to cut or increase rates out of cycle. You can <a href="/expert-insights/finance/gap-between-official-cash-rate-and-home-loans-continuing-to-widen">see how far out of step they tend to be with the Reserve Bank in this article</a>.
The latest movements
The Reserve Bank has been on hold for an extended period of time. Having plotted the last 27 meetings (since February 2012, the first meeting for that year) including today’s, we’re in one of the lengthier periods of stability.
{plotalot id="16"}
The last interest rate increase was November 2010, when a 25 basis point change increased the cash rate to 4.75 from 4.50. 10 meetings of no change ensued until one year later, November 2011, the rate cutting cycle began, bringing the rates back to 4.50 and then to 4.25 after the December meeting.
The other decisions are visible in the graph above, bringing us to our record historic low interest rate of 2.50. In May, RBA governor Glenn Stevens said that it is <a href="/expert-insights/finance/strong-expansion-in-housing-construction-expected-rba-governor-glenn-stevens">likely the most prudent course of action to have a long period of interest rate stability</a>.
This low, and the general direction of the rates from the banks on offer being historically low as well, basically means that you can <a href="/expert-insights/finance/now-is-the-time-to-aggressively-make-mortgage-repayments-smartline">potentially aggressively pay down your principal</a> to give yourself some later breathing room and build some equity, with extra repayments or even by retaining your usual rate of repayment that you had prior to any decrease.
How low can it go and where are we heading from here?
As we're currently at lows that would have been seen as unprecedented, it's unsurprising that many do not believe it can fall much further, despite 1300HomeLoan managing director <a href="/expert-insights/finance/low-interest-rates-may-be-new-normal-john-kolenda">John Kolenda suggesting that this new low interest rate environment might just be the new normal</a>. 
“Prior to the global financial crisis the norm for the RBA's official rate was around the 5% mark,” Kolenda said in April.
“The historical rates over the last 30 years have been much higher than for the previous few years. Consumer confidence is playing a bigger role in determining rate movements.”
However, if it isn't the new normal - and rates return to previously seen highs, such as those during 2008 where the rate hit 7.25, <a href="/news/act/interest-rate-increases-an-eventual-risk-for-borrowers-fitch-warning">home loan repayments could rise by up to 40%, according to Fitch Ratings</a>. Bad news for those stuck with the repayments, and bad news for those lending if they don't bear this in mind.
And, in fact, the next movement is actually likely to be up - although there have been no alarmists suggesting a return to GFC-style 2008 interest rates as of yet.
According to a recent survey of economists and property experts from Finder, which included our editor at large Jonathan Chancellor, <a href="/expert-insights/finance/16-experts-predict-no-change-from-rba-tomorrow">every single one of the 16 on the panel accurately believed there was to be no change this month</a>.
However, nine of those surveyed forecast an increase for next year (including AMP, ANZ, Bank of Sydney, ING Direct, RAMS, UBS, Heritage Bank, Moody’s Analystics and ME Bank).
A further five respondents said that cash rate would likely be increasing this year (Commonwealth Bank, Commsec, Urbis, HSBC and St George Bank).
And observer articles, such as from Robert Simeon, are tending to <a href="/expert-insights/investing/when-it-comes-to-interest-rates-investors-should-learn-a-bit-from-history">suggest that there could be significant interest rate increases</a> over the next year.
For borrowers, this prompts the consideration (particularly for those on variable rates) as to how to handle interest rate increases, particularly if you haven't really thought about it until now. If you're in this category, you can read our <a href="/expert-insights/finance/how-to-prepare-for-an-interest-rate-increase">"How To: Prepare for an interest rate rise" article</a>.
CLICK HERE FOR MORE INFORMATION ABOUT INTEREST RATES
</body></html>

jduke-EHk3XBmHkn

Interest rates crash course: What's the relationship to the property market?

<html><body>
Almost three quarters (74.13%) of those financing a loan are opting for variable rate products, up 0.62% over May, according to Mortgage Choice’s latest home loan approval figures.
Mortgage Choice spokesperson Jessica Darnbrough said that this is unsurprising as an increasing number of lenders are offering discounts on their variable rate products.
“Australia's lenders are hungry for business and they have been offering some sensational variable rate discounts in a bid to attract borrowers and grow their market share,” Darnbrough said.
“We have seen some lenders offering discounts of up to 1.3% and even 1.4% off the standard variable rate. We haven't seen this level of discounting for some time, so it is no surprise to see the popularity of variable rate products on the rise.”
Victoria and Queensland, however, have bucked the trend by being the only two states not recording an increase in demand and recording the lowest demand from the product – at 71.92% and 570.16% respectively.
New South Wales saw strong variable rate demand increases, with 7.25% growth over May to reach 73.65%.
Western Australia and South Australia recorded high popularity levels for variable rate products, at 80.15% and 78.24% respectively, and bringing up the national total.
“While variable rate demand was sluggish in both Victoria and Queensland, fixed rate demand was on the rise, with the popularity of this loan product surging 8% in Victoria to sit at 28.08% and 4.62% in Queensland to sit at 29.84%,” Darnbrough noted.
Fixed rate demand for the other states and territories was down nationally, at 25.87%, down from 33.06% recorded in December 2013.
If you're asking <a href="/expert-insights/finance/analysis-is-it-worth-fixing-your-home-loan">whether you should fix your rate, here's a recent analysis that may help</a>.
</body></html>

Three quarters opting for variable rates: Mortgage Choice

<html><body>
Another 1,000 apartments have been approved in central Melbourne suburbs, according to new information from Planning Minister Matthew Guy, who says that the last thing Victoria needs is a housing shortage like Sydney’s.
With 751 apartments in a four-building Footscray project, and a new tower on Southbank’s Haig Street offering 249 apartments, the investments total $270 million.
“The last thing we need in Victoria is a housing shortage like the one Sydney is experiencing,” said Guy.
“Whether planning for land supply in suburban growth areas, for urban renewal precincts or for central city high rise apartments, we need to keep building enough homes to keep the market affordable,” he said.
He noted that around 2,000 Melburnians will live in these apartments at some point, with the units being vital in meeting the needs of a growing population.
“With Victoria growing at a record rate, including record numbers of babies being born, it is important we cater for all kinds of housing growth.”
Plan Melbourne has identified Footscray and Southbank under the expanded Central City area for major population growth.
The Footscray project, 2 Hopkins Street, was rezoned for high density development in 2009 along with the Joseph Road Precinct. The four buildings planned for this development span from 16 to 28 storeys, and include ground floor retail.
Meanwhile, the Southbank Haig Street project will be 39 storeys, or 122 metres tall, and will be 100 metres from the Clarendon Street tram.
Around 1,890 construction jobs are expected.
</body></html>

Central Melbourne sees 1,000 apartments approved to avoid Sydney-like housing shortage

<html><body>
Obviously, the real estate agent’s job is to get the best price possible for the vendor, while the buyer’s agent is there to negotiate and get the best price for the buyer. With these two conflicting roles in mind – how close is too close?
Whenever you discuss with a buyer’s agent their role, they say that there are many aspects that make them good at their job. This often includes their relationships with local real estate agents, and their ability to access off market sales and snap up bargains for “under market value”. Anything that a buyer’s agent does to legally get their client a better deal is that expert doing their job well and so criticism should not necessarily be levelled at buyer’s agents for being savvy negotiators.
As a result, it isn't exactly surprising that vendors may express concerns when a buyer's agent is expressing interest in purchasing their property.
<blockquote>
An agent acting for the vendor should, prior to going to market, set a base line of offers that will be submitted to the vendor.
</blockquote>
However, real estate agents are there to protect the vendor from buyers, and their representatives, who are looking to get a cheap deal. Clearly, there’s a disconnect here. If buyer’s agents are building relationships with real estate agents to get cheap off-market deals, does this mean that the real estate agent is not doing their job properly?
Not necessarily.
We note that some buyer's agents are hired by owner occupiers who are happy to pay market value, but are looking to get into a specific market or to <a href="/expert-insights/buying/buyers-agents-are-particularly-beneficial-for-busy-people-david-airey">take the hassle out of the buying process</a>. They are also often hired for their ability to "find" investment-grade product (here, for instance, is <a href="/news/how-buyers-agents-pick-the-best-performing-properties">buyer's agent Rich Harvey's take on how to find the top performing properties</a>) and for their strengths when bidding at auction. This article refers to their negotiating strategies, particularly via private treaty or prior to auction. If you are interested in whether or not you should hire a buyer's agent, we <a href="/news/the-argument-for-against-buyers-agents">recommend reading this for/against article first</a>.
<blockquote>
This is a dangerous liaison if the vendor’s agent is going to be persuaded to undersell the property, or accept first offers.
</blockquote>
Just Think’s Edwin Almeida answered Property Observer's Tuesday Q&amp;A about the dynamic between real estate agents and buyer’s agents.
What offers do you absolutely have to put through to the seller?
First and foremost let’s get it clear, an agent acting for the vendor should, prior to going to market, set a base line of offers that will be submitted to the vendor. These offers, be they in writing or verbal offers, need to be discussed beforehand. This eliminates any misconception that the agent will try and “condition” their vendor into lowering the asking price. I believe this will also make the agent more accountable to their own market opinion when submitting the proposal to be the selling agent.
Under our regulations [the Property, Stock and Agents Regulation 2003]
Schedule 2 Principal to be informed of an offer
Section 3(1) The agent must, unless the principal has instructed to the contrary in writing, inform the principal of all offers of purchase as soon as practicable after receiving the offer up until exchange of contracts has taken place.
So in theory all offers must be put to the vendor not just the written offers as most quote. However;
Sub-section (2) If the agent is not going to inform the principal of an offer, the agent must inform the person who made the offer that the offer will not be submitted to the principal. Most agents forget, that they further to the above, even when a verbal offer is submitted and this is passed on to the vendor, the agent must confirm this offer in written form (Sub-section (3)). Should real estate agents keep their distance from buyer’s agents (or buyer’s advocates, as they are also called)? This is a dangerous liaison if the vendor’s agent [which is what we could also call the real estate agent] is going to be persuaded to undersell the property, or accept first offers. The relationship between BA and VA works well when selling off the plan properties, and developers need quick sales to satisfy bank funding requirements. In essence, the relationship works when the vendor is in need and is under some sort of pressure to achieve quick sale; financial, legal obligation or timing issue. This relationship also works well when dealing with developments and the VA is looking for the unsophisticated would-be developers, typical of foreign investors. Can off-market sales ever be good for a vendor? Only if the buyer’s agent meets the asking price. Or if the vendor does not wish to publically advertise the property; this is when we rely on buyers agents. The silent listings that require discrete marketing strategies may also be an opportunity for an off-market sale to benefit a vendor. There are a number of these. Some development sites fall into this, but there are some high end homes also out there on the silent market. What are the tactics of buyer’s agents that real estate agents should shield the vendors from? Low offers: Offers that are ridiculously low and the BA insist they be submitted just because they have made these in writing. This only works with agents that do not truly understand the process. As above. Pest and building reports: Protect your vendor by obtaining a P&amp;B report prior to the marketing, this way most, if not all, objections will be dealt with, as opposed to subjecting the vendor to objection pressure during the selling campaign. Remedy the problem at a low cost rather than an exaggerated perceived cost. Dealing with dummy buyers: Some, although not all buyer’s agents, will send in dummy buyers to place low offers on properties, again another way to so-called ‘condition’ the agent and vendor. Once more this is quickly dealt with if the real estate agent knows the value of the property and has already discussed the strategy how to handle low offers. 
{qtube vid:=3-uMKHTqxik}
YOU MIGHT ALSO WANT TO READ:
<ul>
<li><a href="/expert-insights/investing/selling-agents-and-buyers-agents-work-together-but-have-opposing-goals">Selling agents and buyers' agents work together but have opposing goals</a></li>
<li><a href="/expert-insights/investing/selling-agents-and-buyers-agents-work-together-but-have-opposing-goals">The reciprocal relationship between buyers' agents and selling agents </a></li>
<li><a href="/expert-insights/investing/the-reciprocal-relationship-between-buyers-agents-and-selling-agents">A selling agent will never work in a buyer's best interest: Catherine Cashmore</a></li>
</ul>
What topic would you like to see covered in our next Tuesday Q&amp;A? Send requests for topics and experts to <a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
Photo courtesy of pallspera.com/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
</body></html>

Q&A: How close should a real estate agent get to a buyer’s agent?

<html><body>
A vacant land block in Port Adelaide was up for sale through eBay. The 105 square metre block, <a href="https://www.realestate.com.au/property-residential+land-sa-port+adelaide-200904771" target="_blank">Lot 14 Mercantile Dock, Port Adelaide</a>, was discovered by a new Ray White agent when he was browsing on eBay.
It is now going to auction on 28 June, with a price expectation of $350,000. The eBay price asked for $360,000.
Ray White Norwood’s Murray Pope said that he approached the owners to ask if they wanted help selling the land.
“It turned out the owners were based in Queensland and they were very happy with the idea of a local agent auctioning the land,” Murray explained.
This will be Murray’s first auction, having just joined Ray White Norwood in early-2014.
It is one of the smallest blocks, but it isn’t expected to put off buyers, he said, noting that much of the land around is of a similar size.
“Good sized and functional homes are still easily constructed by building a tri-level home with a rooftop garden. We have the plans drawn up of a home that would suit this land,” he said.
<img src="/images/2014/06/03/port-adelaide-june-3-floor-plan.jpg" alt="">
He said that it will suit families and developers. The eBay listing noted council rates at $278 per quarter.
{module Real estate agents – would you look for a lead through eBay?}
Share other quirky ways that you have found vendors in the comment section below.
</body></html>

Can agents land a lead through eBay? Poll of the day

<html><body>
A decision to bring the National Construction Code and Building Code of Australia online, for free, from 2015 has been welcomed by the Housing Industry Association.
The decision, made by the Building Minister’s Forum, will cut red tape and is a necessity for everyone in the building industry, said HIA's senior executive director building development and environment, Kristin Brookfield.
“The building code should always have been freely available online in the same manner as other state and territory regulation,” said Brookfield.
“To require builders and plumbers to pay for access to the most important compliance document for the industry is contrary to achieving the delivery of affordable housing at the highest possible standard.”
At present, a new building code is required to be purchased each year. According to the website, the cost for a hard copy and digital access is just short of $400. Online 12 day access can cost $70.
Details are expected to be finalised in coming months.
Interested in currently available online resourceS? Observer Cameron McEvoy details <a href="/expert-insights/investing/five-online-investor-resources-to-help-find-your-first-property-cameron-mcevoy">five useful tools that you can use to find your first investment property</a>.
Genworth also <a href="/news/genworth-australia-launches-free-online-lmi-toolkit">previously launched a free online toolkit</a>.
</body></html>

New free online tool for property industry welcomed by HIA

<html><body>
Only 28 days remain for first home buyers in South Australia hoping to receive government assistance to buy an established home.
South Australian first time buyers are currently eligible for a first home owners grant (FHOG) on both new homes and established homes. 
For those purchasing established homes, current $5,000 is attainable. However, from the start of July the grant for established properties will end.
For those buying a new home, a grant of $15,000 is achievable for properties not exceeding $575,000 in value.
If you previously held any interest in residential property before 1 July 2000, even if it was an investment property, you're not eligible.
Those who have had a property since - but used it solely for investment purposes and did not live in it - may be eligible. You'll need to give them tax return details, tenancy agreements and current electricity and phone accounts.
After the property is built, you must then live in the property for six months commencing within 12 months of completion.
Off-the-plan properties may also be eligible for a stamp duty concession for a new apartment or substantially refurbisged apartment. This is for properties from 31 May 2012 to 30 June 2014, capped at the stamp duty payable on a $500,000 apartment (or $21,330). A partial concession will apply from 1 July 2014 to 30 June 2016.
The concession does, however, apply to specific areas as outlined on the Revenue SA site and associated maps.
You can check out the <a href="/expert-insights/buying/the-national-guide-to-first-home-buyer-grants">national guide to first home buyer grants</a> to see a more detailed rundown of what's available across Australia for first home buyers.
</body></html>

South Australian FHOG for established houses runs out on 30 June

<html><body>
Political donations given by property developers are a necessity due to inadequacies in the planning system, Real Estate Institute of New South Wales president Malcolm Gunning has warned.
He said that its time for the finger pointing at developers to stop, and for stakeholders to recognise that the real issue is the planning system.
“The NSW planning system is inefficient, convoluted and outdated. Developers are constantly being made out to be the bad guys, however the real issue is that the NSW planning system needs urgent attention and reform,” said Gunning.
“Developers have no confidence in local councils who are driven by local politics rather than good policy. Developers give to both sides of politics in order to have a voice with senior political figures.”
He emphasized that REINSW does not condone nor support corruption, but understands that sometimes the “only way” to get projects through the system is to make donations to senior politicians.
“We want the NSW government to refine and streamline state planning to take the politics out of the process and create a transparent and efficient system,” he said.
“We need to amalgamate councils and make planning more efficient. There should be half the number of zones and a less complex process for planning approvals, which will create more clarity and faster outcomes.”
He warned that purchasers are often paying the costs of “far too many” cases going to the Land and Environment Court, with delays leading to increased development costs.
{module Do you think that donations from developers are necessary due to the planning system?}
</body></html>

Point of debate: Are donations from developers due to planning system inadequacy?

<html><body>
The rapid rise in Chinese listings portals in Australia has many unaware as to what is now on the market, and which ones they should be keeping a close eye on.
In fact, the topic of technology and <a href="/expert-insights/buying/one-in-six-property-sales-to-an-asian-buyer-re-max">online portals to tap into the Asian buyer market was high on RE/MAX’s radar at their Asia-Pacific Rim Summit</a> held in Hong Kong late last year.
Property Observer has compiled the sites that are becoming movers and shakers in the Australian market, and have used Traffic Estimate to provide information around the number of ‘visits’ each site manages to achieve.
We note that a number of these sites have multiple portals, and therefore their total traffic figure may be substantially higher. The algorithm used by TrafficEstimate works best on sites with more than 20,000 visitors per month.
<a href="https://soufun.com/" target="_blank">SouFun</a> and <a href="https://www.myfun.com/au-cn/buy" target="_blank">MyFun</a>
First up, is SouFun.com and MyFun.com. We have put these two together due to their relationship with realestate.com.au or REA Group.
SouFun is the largest property portal in China, and a new partnership with realestate.com.au will see their myfun.com listings added to SouFun and REA Group owned squarefoot.hk in Hong Kong.
Myfun.com was launched by REAGroup as their property portal for Chinese consumers interested in Australian properties.
The SouFun site reportedly has a strong presence in the United States, Asia and Europe, and claims 30 million visits per month across their network. They also note that they have 15 million SouFun card holders. Their listings cover 30 countries, including the US, Canada, UK, Thailand, Malaysia and Greece.
Myfun looks to provide manual translations into Mandarin, including a property liaison specialist who can deliver enquiries in English to Australian agents and developers.
SOUFUN.COM CURRENT ESTIMATED MONTHLY TRAFFIC (VISITS) FOR LAST 30 DAYS: 9,073,100 (Source: TrafficEstimate)
MYFUN.COM CURRENT ESTIMATED TRAFFIC (VISITS) FOR LAST 30 DAYS: 87,000 (Source: TrafficEstimate)
 
<a href="https://www.iproperty-group.com/" target="_blank">iProperty Group</a>
Recently snapping up ex-LJ Hooker CEO, George Chmiel, after 18 months with the real estate company, iProperty Group also claims themselves to be Asia’s number one property portal site. It was established in 2003, and also as a commercial property site CommercialAsia.com.
They have received a number of awards, and their portals include Iproperty.com.my, the Malaysian branch (which we have ranked below), as well as portals for the Philippines, India, Singapore, Hong Kong and Indonesia.
The company was recording significant growth over the first quarter of 2014.
IPROPERTY.COM.MY CURRENT ESTIMATED TRAFFIC (VISITS) FOR LAST 30 DAYS: 2,190,000 (Source: TrafficEstimate)
Their annual report notes that total site visitors peaked at almost 1.6 million during the year for iProperty Malaysia. Hong Kong recorded total site visitors over 850,000 for the year.
 
<a href="https://www.juwai.com.au/" target="_blank">Juwai</a>
Juwai was founded by <a href="/expert-insights/investing/four-tips-to-help-you-sell-australian-property-to-chinese-buyers">Andrew Taylor, who has often written columns for</a> Property Observer.
This Chinese listing site has been <a href="/expert-insights/investing/chinese-real-estate-listings-portal-juwai-com-expands-european-property-coverage">expanding into Europe as of early last year</a> and it promotes itself as the largest international property search and information platform for Mandarin-speaking Chinese consumers.
Juwai.com search figures show that European properties were viewed over 882,000 times by Chinese investors in January 2013.
They’ve had LJ Hooker using the site, announcing a partnership back in 2012. They have noted that 32% of their visitors actually live outside of China.
Some of their other customers include McGrath, Lend Lease, Knight Frank, Jones Lang LeSalle, Richardson &amp; Wrench, Raine&amp;Horne, Savills, RE/MAX, Sotheby's and Ray White.
Juwai.com promotes itself as the largest international property search and information platform for Mandarin-speaking Chinese consumers and says that 84% of its traffic comes from high-net-worth Chinese buyers. They note that they have over 2.4 million property listings across 53 countries, and note that they have 1.5 million high net work Chinese consumers.
They run events a number of events including Juwai China Agent Summit 2014.
JUWAI.COM CURRENT ESTIMATED MONTHLY TRAFFIC (VISITS) FOR LAST 30 DAYS 2014: 1,195,700 (Source: TrafficEstimate)
Article continues on next page. Please click below.
<hr class="system-pagebreak">
<a href="https://gifang.com/" target="_blank" style="line-height: 1.3em;">GiFang</a>
Headed up by Michael Yang it’s said to be <a href="/news/china-based-estate-agencies-selling-australian-properties-through-inflated-two-tiered-pricing-schemes">the largest Chinese language property site in Australia</a> offering international properties in Mandarin.
The site claims that it has partners including SouFun, Migration Institute, the Australian Government, Westpac, RealEstateView, REIV, Sydney Property, Sydney Today, 21CN, HK Property, BaoMoney, Pacific House, Wenzhou property, Sina property, Ifeng.com and ChinaProperty Institute
Established in August 2010, previously with the name YBI Group, the English version is called OurProperties.com.au.
They run a number of property events and seminars and have won a number of awards.
In late-2013, the expectation was that they would reach 1,000,000 unique visitors every month by the end of 2013.
They host data from Residex, who they list as a third party partner.
GIFANG.COM CURRENT ESTIMATED TRAFFIC (VISITS) FOR MAY 2014: 532,900 (Source: TrafficEstimate)
OURPROPERTIES.COM.AU CURRENT ESTIMATED TRAFFIC (VISITS) FOR LAST 30 DAYS: 376,400 (Source: TrafficEstimate)
 
The last few spots will be contentious. Here are some of the up and comers, and some that showed early promise.
<a href="https://www.propertyobserver.com.au/acproperty.com.au" target="_blank">AC Property</a>
Smaller cousin, AC Property, is an Australian-based Chinese language portal that aims to provide a ‘one stop’ solution.
They translate the advertisements for the real estate agents and provide online promotion through Google, Baidu, local Chinese forums, advertisements in major Chinese property newspapers and posters.
AC Property <a href="/news/acproperty-com-au-representing-the-australian-market-in-china">regularly exhibits in China</a>.
NAB and Ray White currently has advertisements on the website.
ACPROPERTY.COM.AU CURRENT ESTIMATED MONTHLY TRAFFIC (VISITS) FOR LAST 30 DAYS 2014: 16,500 (Source: TrafficEstimate)
 
<a href="https://www.thehomepage.com.au/" target="_blank">Thehomepage</a>
Taking an <a href="/expert-insights/investing/property-portal-thehomepage-now-offers-chinese-language-listings">early leap and putting Chinese language listings on the site in mid-2012</a>, at the time saying it was the only portal in Australia to have yet done so. At the time it was all off the plan product, and appeared popular with developers. Founded by Morry Schwartz, they also place listings on juwai.com.
It includes listings from Ray White, LJ Hooker, Acton, Raine&amp;Horne, Hocking Stuart, Roberts, Barry Plant and Richardson &amp; Wrench.
It appears, however, that they have taken down their Chinese language off the plan portal. Whether they'll look to step again into this market using their own site remains to be seen.
THEHOMEPAGE.COM.AU ESTIMATED MONTHLY TRAFFIC (VISITS) FOR LAST 30 DAYS 2014: 145,700 (Source: Traffic Estimate)
 
<a href="https://www.propertyobserver.com.au/Century21global.com" target="_blank">Century21global</a>
Also taking an early leap, <a href="/news/century-21-launches-global-real-estate-portal">Century 21 has used the strength of having offices across the world to launch Century 21 Global</a>, that focuses across the world and not just on China, sharing the properties from all of Century 21’s offices.
It covers 74 countries and 16 languages on their new website, and includes automatic translation services.
CENTURY21GLOBAL.COM ESTIMATED MONTHLY TRAFFIC (VISITS) FOR LAST 30 DAYS 2014: 74,600 (Source: Traffic Estimate)
</body></html>

The top Chinese investment portals you need to know about

<html><body>
A survey of 16 economists and experts undertaken by Finder.com.au has found that the Reserve Bank of Australia is unlikely to change their rates in their June meeting tomorrow.
Of course, the question remains as to when the rate will next be increased – with the majority of experts believing we have reached the bottom of the rate cycle.
According to those surveyed, nine forecast an increase next year. This included AMP, ANZ, Bank of Sydney, ING Direct, RAMS, UBS, Heritage Bank, Moody’s Analystics and ME Bank.
Meanwhile, five respondents, from Commonwealth Bank, Commsec, Urbis, HSBC and St George Bank, pointed to a cash rate increase this year.
Of the experts, 10 believed that reactions to the federal budget cuts will delay any change. Nine noted that more stability needs to be seen in the economy before any changes.
Results from Finder survey:
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="215">
Economist/expert, organisation
</td>
<td valign="top" width="426">
Snap shot of comments
</td>
</tr>
<tr>
<td valign="top" width="215">
Shane Oliver, AMP
</td>
<td valign="top" width="426">
“...Nothing's really happened. The Reserve Bank has cut interest rates to these record lows, and that has had an impact on the economy...”
</td>
</tr>
<tr>
<td valign="top" width="215">
Warren Hogan, ANZ
</td>
<td valign="top" width="426">
“...There’s no inflation pressure on the economy just yet so they can keep the rates low, and there's no need to cut them...”
</td>
</tr>
<tr>
<td valign="top" width="215">
John Symond, Aussie
</td>
<td valign="top" width="426">
"...We don't think there will be a change to rates, as the economy continues to send out mixed signals..."
</td>
</tr>
<tr>
<td valign="top" width="215">
Steven Pambris, Bank of Sydney
</td>
<td valign="top" width="426">
“...The current record low interest rates will have to continue for some time...”
</td>
</tr>
<tr>
<td valign="top" width="215">
Michael Blythe, CBA
</td>
<td valign="top" width="426">
“...What will be interesting to see is how the budget's reception will impact household consumption...”
</td>
</tr>
<tr>
<td valign="top" width="215">
Craig James, Commsec
</td>
<td valign="top" width="426">
“...There's been a lot of huffing and puffing about the budget, but really it's people's perception. There's no reason for the reserve Bank to be cutting rates...”
</td>
</tr>
<tr>
<td valign="top" width="215">
Paul Williams, Heritage Bank
</td>
<td valign="top" width="426">
“...The rba will be keeping an eye on the trends in unemployment, developments in key offshore economies, inflation levels and rising tensions in south east asia and europe...”
</td>
</tr>
<tr>
<td valign="top" width="215">
Paul Bloxham, HSBC
</td>
<td valign="top" width="426">
“...The economy is showing signs of rebalancing but inflation is fairly contained at this stage...”
</td>
</tr>
<tr>
<td valign="top" width="215">
Michael Witts, ING Direct
</td>
<td valign="top" width="426">
“...Although consumers appear to reacted adversely to the measures announced in the budget it is too early tell what the lasting impact will be...”
</td>
</tr>
<tr>
<td valign="top" width="215">
John Caelli, ME Bank
</td>
<td valign="top" width="426">
“...Inflation is within the target zone so the RBA can afford to wait and see the recovery unfold…”
</td>
</tr>
<tr>
<td valign="top" width="215">
Glenn Levine, Moody’s Analytics
</td>
<td valign="top" width="426">
“...The RBA will leave interest rates on hold, but this competing dynamic between a below-trend economy and a warming housing market will shape monetary policy in the next 12 months...”
</td>
</tr>
<tr>
<td valign="top" width="215">
Jonathan Chancellor, Property Observer
</td>
<td valign="top" width="426">
“...Other than the post-budget consumer blues, there's little reason for the RBA board to do anything but issues their monthly minutes this June...”
</td>
</tr>
<tr>
<td valign="top" width="215">
Nathan McMullen, RAMS
</td>
<td valign="top" width="426">
“...Monetary policy settings remain mildly expansionary relative to long run averages and are appropriate given the current outlook...”
</td>
</tr>
<tr>
<td valign="top" width="215">
Hans Kunnen, St. George Bank
</td>
<td valign="top" width="426">
“...The economic recovery isn't deep enough for them to be raising money this soon...”
</td>
</tr>
<tr>
<td valign="top" width="215">
Scott Haslem, UBS
</td>
<td valign="top" width="426">
“...It's pretty clear the RBA is expecting the economy to only slowly improve over the next couple of years...”
</td>
</tr>
<tr>
<td valign="top" width="215">
Nicki Hutley, Urbis
</td>
<td valign="top" width="426">
“...Consumers opened their wallets a little wider in the first few months of the year and the housing cycle is in full swing...”
</td>
</tr>
</tbody></table>
Property Observer’s editor at large, Jonathan Chancellor, who took part in the survey, noted that <a href="/expert-insights/finance/last-months-price-growth-dip-the-first-since-may-2013-so-rba-will-be-content">the RBA will be interested that national house values have fallen in May</a>, as they have in each of the past three May months.
“But May's fall is the first monthly fall in values since May 2013.
“Meanwhile construction is coming along nicely, with NSW taking the rightful crown from Victoria as the national's busiest new home market. That means, other than the post-budget consumer blues, there's little reason for the RBA board to do anything but issues their monthly minutes this June.”
Last week, Property Observer reported that the <a href="/news/no-australian-housing-bubble-but-negative-gearing-induced-affordability-issues-former-rba-governor-ian-macfarlane">RBA's former governor Ian Macfarlane noted that there is no housing bubble</a>, but that affordability is an issue. Part of the affordability issue, he said, is negative gearing's effect.
For more predictions of when the next rate increase will be, you can see <a href="/expert-insights/finance/what-will-happen-to-interest-rates-next-week-and-when-will-the-next-increase-be">a summary of economists' thoughts here</a>.
</body></html>

16 experts predict “no change” from RBA tomorrow

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

Joel Robinson

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

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

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

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

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

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

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

Sherpa sells out Flourish Oasis in booming Palm Beach

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

Jennifer Duke

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News