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Guest observation
At 14.7%, the Brisbane CBD vacancy rate has never been this high.
It is the highest in Australia except for the Gold Coast at 15.0%.
<ul>
<li>A further 191,000 sqm is being built 2014-16</li>
<li>The largest project is 1 William Street</li>
</ul>
The math:
<ul>
<li>Now vacant: 321,000 sqm</li>
<li>Being added: 191,000 sqm</li>
<li>Total: 512,000 sqm</li>
<li>Average demand per annum: 40,000 sqm            = Supply for 12 years</li>
</ul>
Brisbane Office Market
Currently there are some 400 office suites available for lease in the Fringe area, compared with 320 in the CBD and almost 3,300 in greater Brisbane.
The office market has been hit by the worst demand shock in 30 years. It will take time to replace the lost demand from the public sector and coal and LNG industries.
Lower rents and population growth will eventually restore the market.
Brisbane Industrial Market
Last year was the strongest year for sales numbers in five years, with 377 sales in total.
The Gateway region north and south of Brisbane River account for almost a quarter of all sales and include most of the higher value properties.
Outside of Gateway, the South accounts for 36% of all sales by number.
Linda Phillips is the national research manager of Propell National Valuers.
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jrichardson-uRX5hFdKfN

Brisbane CBD vacancy rate hits new high

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Guest observation
In a recent article on Property Observer (<a href="/expert-insights/buying/lies-damned-lies-and-housing-statistics">Lies, damned lies and housing statistics</a>) commentator Arek Drozda discusses Australian property statistics. He tells the reader many commentators write stories around property numbers that can't be relied on.
Drozda claims that "data does not lie". However, data is just a collection of facts and statistics for reference or analysis and, as Janine Skorsky of House of Cards says, "There is no arrangement of facts that is purely objective."
Drozda provides his own narrative around the data he uses in the article, as I do in any article I write (including this one). We are all human, we all experience different events over our lives that shape how we see the world, how we interpret things and so when we go to present data or share an opinion, it is always loaded with that bias. 
To suggest that data can't be manipulated to fit various views is disingenuous. Data can be made to lie in various ways, for example in it's initial collection (biased sampling), through its visualization (how it's presented to the reader) or by using it selectively. 
Drozda uses his narrow selection of data to try and show that Sydney property is not suffering from rampant speculation as it's only "catching up" to the other capital cities:
<img src="/images/2014/10/10/relative_chane_in_median_prices.png" alt="">
Source: Arek Drozda using ABS statistics
But presenting data like this can be used to mislead as there is no supporting evidence provided to show that the cities were equally valued (relative to each other) at the point the data starts, despite his insistence that the capital city median prices "being in a tight range" during the mid 1980s suggests they were.
Drozda has used data to support his opinion that Sydney is not experiencing a high level of speculation or is overvalued, but it's the data he leaves out of his story that suggests it could be otherwise. For example rental yields are lowest in Sydney and Melbourne, substantially lower than in the rest of Australia.
<img src="/images/2014/10/14/Table-1-August-Statistics.jpg" alt="">
Source: Residex
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Other data that suggests Sydney (and Melbourne) are seeing a higher level of speculation and overvaluation relative to the rest of the capitals includes investor finance which has soared (via <a href="https://petewargent.blogspot.com.au/2014/09/housing-finance-challenging-received" target="_blank">Pete Wargent</a>).
<img src="/images/2014/10/14/investorloansbystate.jpg" alt="">
Source: Pete Wargent
<center></center>
The above chart is not indexed (and is state rather than capital), but it's clear that New South Wales and Victoria are experiencing a greater level of speculation with rolling investor loans far higher than their previous nominal peaks, whilst the other states barely tread water.
I could go on with other examples indicating a higher level of speculation in Sydney, but the above does well enough given the limited content of the article it was addressing. Of course the above is my view based on the data available. Have a look at Drozda's presentation of the data and mine, and make up your own mind.
This article continues on the next page. Please click below.
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When I queried (<a href="https://www.propertyobserver.com.au/https://twitter.com/BullionBaron/status/520472672375828480" target="_blank">on Twitter</a>) another of the charts Drozda had presented purporting to show Sydney (and Australia) having relatively "affordable" property (below), he pointed me toward an older post where he explained his position in more detail.
<img src="/images/2014/10/14/ev.owa.jpg" alt="">
Source: Arek Drozda
In <a href="/expert-insights/australian-property-prices-explained-independent-analyst">this article</a> Drozda dismisses "simple" ratios of prices-to-rents or prices to household disposable incomes and instead presents his own simple argument that when it comes to affordability price doesn't matter, only serviceability (and interest only at that).
He says that principal is omitted because it's savings:
"Paying off the loan principal is omitted in the analysis since it equates to savings and is therefore deemed irrelevant (i.e. every dollar that is paid off becomes owner’s equity that can be drawn upon in the future)."
The claim is preposterous, given that these "savings" have to be borrowed back (with interest payable) or only retrieved in full by selling the property.
Drozda writes about a metric referred to as the "cost of buying", which measures only the cost of interest on the loan and then uses that as his basis of "housing affordability". As I've only recently written on this topic, I'll quote from my previous piece (<a href="https://www.bullionbaron.com/2014/09/why-serviceability-affordability" target="_blank">Why Serviceability ≠ Affordability</a>):
"Even if interest rates had remained elevated the entire period of the loan, it still ends up more affordable over the long run to have double the interest rate, but lower price to income ratio. Not only that but it would be faster to save the deposit given that it's a lower amount (relative to income) and I haven't taken into account the higher interest rate on saving for the deposit which would have benefited the 1992 scenario. 
"Costs such as stamp duty which are tied to the price paid would be lower too. Finally, higher interest rates tend to come with a higher rate of inflation, so the real value of the debt would be reduced faster as wages increased, meaning the buyer in 1992 would have found it easier to ramp up the level of repayment.
"...When considering affordability, we need to take a holistic approach and not use a simple snapshot of a single repayment as the basis to make judgement calls on whether house prices or a mortgage used to purchase them is affordable. A mortgage is a long term commitment and shouldn't be treated so trivially by market commentators."
Drozda's argument in this article does show how buyers have been able to service mortgages at these higher prices (as he puts it, "rediscovered their true financial capacity"), mostly a result of "structurally" lower interest rates, but as I've shown that doesn't make them affordable unless you're of the opinion that serviceability is the same as affordability.
He finishes the article on this note:
"We can afford current prices – and we can afford them more than in 1986. The only hurdle is that it requires accepting a level of debt that many may not feel comfortable with."
It's clear that Drozda is devoted to the first rather than second definition of 'afford' below:
Afford: To have the financial means for; bear the cost of.
Afford: To manage or bear without disadvantage or risk to oneself.
The data he presents is shaped to support this angle.
Is it a lie? Well I guess that's subjective. I'll leave it for the reader to decide.
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Joseph (also known as Bullion Baron) is an independent Australian investor who <a href="https://www.BullionBaron.com">writes</a> and <a href="https://twitter.com/bullionbaron">tweets</a> on various topics including precious metals, finance, property &amp; the monetary system.
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Subjectivity, damned subjectivity and housing statistics

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Guest observation
Despite valiant efforts by commentators such as <a href="https://www.crikey.com.au/2014/03/10/chinese-real-estate-invasion-not-according-to-the-data-fellas/">Bernard Keane</a> and <a href="https://www.smh.com.au/business/comment-and-analysis/why-we-should-welcome-chinese-housing-investment-20140311-34j00">Michael Pascoe</a> to slay claims that Chinese buyers are making it harder for ordinary Australians to enter the housing market, the notion <a href="https://www.smh.com.au/comment/grey-money-from-china-helps-blow-our-property-bubble-20140928-10n7a8">refuses to die</a>. It is the <a href="https://www.propertyobserver.com.au/https://press.princeton.edu/titles/9702">“zombie idea”</a> afflicting the Australia-China economic relationship.
And there is a danger the zombies will multiply. Last week the <a href="https://www.afr.com/p/business/property/more_chinese_investment_likely_as_hgTpJvcLwJaFVV5MpsX5EL">Australian Financial Review</a> reported that China recently eased restrictions on outbound investment. The implication being “a fresh wave of capital [is] expected to make its way into the Australian property market”.
The <a href="https://www.smh.com.au/business/chinese-investors-are-pushing-into-melbourne-and-sydney-20141010-113q7x">Sydney Morning Herald</a> continued with the same theme listing several recent examples of Chinese-funded projects with values reaching into the billions.
But all these reports lack one critical factor: context.
Even if Chinese investment is rising, it is still a small proportion of the market
All foreign investment in Australian real estate requires approval from the Foreign Investment Review Board (FIRB).
According to <a href="https://www.firb.gov.au/content/publications.asp">FIRB</a>, over the period 2009-10 to 2012-13, approvals for Chinese investment in Australian real estate totalled $16.6 billion.
At first blush this seems an impressively large figure. But it is actually less than 10% of the total value of foreign investment approvals in the sector.
Approvals to Chinese investors have lagged behind those from the United States. They have also not been much more than those from the United Kingdom, which has an economy around one quarter the size of China’s and less than 5% of the population.
The scale of Chinese investment seems again smaller when viewed against the size of the market. In a report earlier this year, the <a href="https://www.rba.gov.au/publications/bulletin/2014/jun/bu-0614-2a">Reserve Bank of Australia</a> (RBA) observed that total foreign investment approvals in residential real estate have historically only been around 5-10% of the value of home sales. Chinese approvals are just a proportion of this percentage.
It is also important to keep in mind we are talking about approvals here, not purchases. This means FIRB data overstate the true value of foreign investment.
For example, a property developer in Australia can apply to the FIRB for approval to sell all new dwellings in a large scale real estate project to foreign buyers. In their <a href="https://www.aph.gov.au/Parliamentary_Business/Committees/House_of_Representatives_Committees?url=economics/foreigninvestment/index.htm">submission</a> to the Inquiry into Foreign Investment in Residential Real Estate, the Commonwealth Treasury noted that based on past experience only around 35%, on average, of such dwellings end up in the hands of foreigners.
Also don’t forget that FIRB data is gross, not net. In any given year some foreign investors will seek FIRB approval for new purchases. Meanwhile others will sell down their existing portfolios. As a result, simply adding the value of FIRB approvals from year to year exaggerates the size of the stock of Australian real estate assets held by foreigners.
What all this means is that Chinese investment can grow strongly and still not come close to flooding the market. Citing preliminary FIRB data from the first three quarters of 2013-2014, the Commonwealth Treasury noted a sharp jump in foreign investment approvals over the previous year, particularly from China. But as the RBA shows, this still only takes the value of total foreign investment approvals to around 12-13% of total sales.
This article continues on the next page. Please click below.
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Chinese investment actually increases housing supply
Issues of scale aside, Chinese investment has the effect of increasing housing supply. This acts to restrain price growth.
Regulations also limit Chinese investors to buying new properties. Exceptions are few. For example, a Chinese student may purchase an established property to live in while studying in Australia. But it must be sold once they return home. Building new housing requires a lot of capital. A report earlier this year by the <a href="https://www.ahuri.edu.au/publications/projects/p81009">Australian Housing and Urban Research Institute</a> found a leading cause of the undersupply of housing in Australia is the availability of finance. Banks are the first port of call for most developers. Yet banks generally demand pre-sales, or sales of dwellings before their construction even begins, of between 50-100% of the value of the loan being sort.
<a href="https://www.smh.com.au/business/comment-and-analysis/why-we-should-welcome-chinese-housing-investment-20140311-34j00">Michael Pascoe</a> put it like this, “Without the stimulus of investors to get the country building now, we’ll face demand-induced price pressure all of our own soon enough”.
With a small population and a limited domestic savings pool, Australia has a long tradition of accepting and benefiting from foreign investment in capital-intensive sectors of the economy. The real estate sector is no different: a dollar of Australian savings tied up in housing is a dollar that cannot be productively invested elsewhere.
Other benefits of Chinese investment include the very real jobs created in Australia’s construction industry and associated sectors such as housing appliances.
Are foreign investors breaking the rules?
Recent allegations that some foreign investors have skirted FIRB rules to purchase established housing have attracted much <a href="https://www.smh.com.au/business/punish-foreign-property-cheats-says-coalition-mp-kelly-odwyer-20140916-10hp2r">media attention</a>. This claim does nothing to undercut the benefits brought by foreign investment. Rather, it is a complaint about existing rules not being enforced.
The intensity of enforcement is entirely at the discretion of Australian authorities. The FIRB reviews around <a href="https://www.afr.com/p/national/firb_we_don_have_staff_to_veto_foreign_u7VxVO2Hr9zdQsjkc8NwyK">2.5% of housing transactions</a> to verify compliance. Simple economics says that scrutinising every one of the 600,000 housing transactions each year would not be an efficient use of resources. The FIRB employs the same risk management approach that Australian Customs uses when screening imports for contraband and counterfeit products.
Another factor that troubles commentators about Chinese investment is that some of this money finds its way to Australia via the <a href="https://www.smh.com.au/comment/grey-money-from-china-helps-blow-our-property-bubble-20140928-10n7a8">“grey economy”</a> or the <a href="https://www.theaustralian.com.au/business/banks-admit-to-limited-control-over-foreign-funds-for-housing/story-e6frg8zx-1227021005452">“shadow banking system”</a>.
But there is nothing sinister about it. China has a prominent informal financial system because its formal banking sector functions so poorly. It regularly offers savers negative real returns and supplies a dearth of credit to dynamic private sector firms.
Without an informal financial system to overcome these deficiencies, China’s growth would have been much slower than it has been and Australia would be worse off as a result. Similarly, the flow of Chinese capital to Australia would have been reduced and so too would the benefits received – there would be less housing supply and fewer construction jobs.
Knee-jerk arguments blaming Chinese investors for high Aussie house prices may be refuted with hard evidence. Unfortunately zombie ideas in economics have a habit of rising again.
<img src="https://counter.theconversation.edu.au/content/32455/count.gif" alt="The Conversation" width="1" height="1">James Laurenceson is the deputy director and professor at the Australia-China Relations Institute (ACRI) at the University of Technology, Sydney. He does not work for, consult to, own shares in or receive funding from any company or organisation that would benefit from this article, and has no relevant affiliations.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>. Read the <a href="https://theconversation.com/zombie-economics-the-notion-china-is-to-blame-for-australias-property-bubble-refuses-to-die-32455">original article</a>.
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Zombie economics: the notion China is to blame for Australia's property bubble refuses to die

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The buyer who snapped up Simon and Shannon's apartment on The Block Glasshouse is an investor who missed out on apartments in The Block Fans v Faves.
Buyer's agent Frank Valentic of Advantage Property Consulting told Property Observer the investor was very keen on Simon and Shannon's apartment, and had previously bid on three of the apartments on offer in the show's last season.
After being priced out of the Albert Park apartments, the investor returned for The Block Glasshouse. According to Valentic, the buyer intends to rent out the apartment after settlement.
"Most of the agents were pitching furnished rentals at $1,500 to $1,750 per week," says Valentic, who notes apartments from The Block Fans v Faves were asking for around $2,100 in rent per week.
If rented out at $1,500 per week, the buyer of Simon and Shannon's apartment will be earning a 4.1% yield on their purchase. Should they find a tenant willing to pay $1,750 per week, the apartment will rent with a 4.7% yield.
According to SQM research, the implied gross rental yield for units in Prahran sits just north of 5.5%.
All three of the buyers Valentic represented at the weekend's televised auctions were investors. The other two did not secure apartments.
Valentic notes that while he predicted Darren and Dee's apartment and Michael and Carlene's would have the lowest selling prices, the $1.71 million price for Maxine and Karstan's apartment was a surprise.
"I didn't expect the third result," he says, explaining that it was "probably the biggest shock" of the auction.
The buyer's agent took around 25 buyers through the five apartments, with his clients rating Simon and Shannon's the best, followed by Maxine and Karstan's, and then Chris and Jenna's apartment.
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The buyer behind the winning Block Glasshouse auction

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With Simon and Shannon's profits clearing some of the competition by $325,000, plenty of punters are wondering what exactly the boys did right.
The brothers didn't win the most challenges on The Block Glasshouse, but they and the runners up, Chris and Jenna, were the only two of the five teams to secure six figure profits.
According to Simon and Shannon's auctioneer Damien Cooley, a large portion of their win can be attributed to the auction order. The boys chose to go second, while Chris and Jenna were stuck with the first auction.
"The biggest component for the auctions was the lack in depth of quality buyers," says Cooley.
"It was pretty obvious to us leading in to the auctions that we felt that there were three or four quality buyers, and that was the reason we wanted to go earlier in the order of sale rather than later."
Cooley says many of the teams who tried to get one of the final auction spots were hoping to replicate the success of The Block Fans v Faves, when each subsequent auction resulted in a higher sale price.
But some of the contestants didn't seem to factor in the weaker buyer interest for this season's properties.
"This year was a bit different in the sense that the buyer pool was not as strong as in the previous season," Cooley, pictured below, says.
<img src="/images/2014/10/14/cooley-2.jpg" alt="">
Cooley auctioning Simon and Shannon's apartment on The Block.
An under bidder for Chris and Jenna's auction, represented by buyer's agent Frank Valentic of Advantage Property Consulting, ended up securing Simon and Shannon's apartment. The buyers of Max and Karstan's apartment, the third to be auctioned, was an under bidder on the first and second apartments.
"Once those buyers had all bought, there wasn't a lot of strength in the other buyers," Cooley notes.
"There were a lot of other prospective purchasers, but they weren't at the same level the others were at."
Cooley also believes there was another "game changer" at play: taking $50,000 bids.
"It's really important that you understand where your buyers are, where you think they might be at on price, and judge their strategy when they're bidding," he says.
"There's a lot of psychology involved and you don't have long to make decisions. I quickly decided to go in $50,000 increments."
He worked with Jellis Craig agents to secure the sale of Simon and Shannon's apartment, with the boys reporting that Cooley had recommended the agents to them.
The auction coincided tidily with Jellis Craig's brand relaunch, complete with new logo.
While the contestants for the next season of The Block haven't yet been locked in, a few prospective reality television renovators have already approached the Block regular to auction their forthcoming apartments.
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The strategy that won Simon and Shannon The Block Glasshouse

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Tasmanian brothers Simon and Shannon Vos took out the $100,000 prize at the auctions of The Block Glasshouse.
With a $1.9 million sale, the duo earned $335,000 over their adjusted reserve of $1.565 million.
All five of the apartments at The Block sold at auction, though they didn't approach the bullish results at the Albert Park warehouse in The Block Fans v Faves earlier this year.
Rookies Chris and Jenna, who had the largest floor space of any of the six apartments, came in second place with a $1.81 million price.
The full results:
<ol>
<li>Simon and Shannon, 2/125 High Street: $1.9 million ($335,000 over reserve)</li>
<li>Chris and Jenna, 2/121-127 High Street: $1.81 million ($310,000 over reserve)</li>
<li>Maxine and Karstan, 3/121-127 High Street: $1.71 million ($40,000 over reserve)</li>
<li>Michael and Carlene, 1/125 High Street: $1.39 million ($10,000 over reserve)</li>
<li>Deanne and Darren, 6/121 High Street: $1.38 million ($10,000 over reserve)</li>
</ol>
Yet again, it seemed that the auction order played a role in the final results. This time, the highest priced apartment went under the hammer second, Chris and Jenna's was auctioned first, and sales price dwindled from there.
Michael and Carlene chose to go last. Deanne and Darren, who had second choice, did went as late as they could, choosing to go to auction fourth.
Simon and Shannon nominated to go second, while Max and Karstan decided to go third. Chris and Jenna were stuck with first place after the other couples determined their order.
The contestants had no doubt hoped to repeat the formula established on The Block Fans v Faves, where the hammer prices escalated with each auction as buyer desperation took hold.
But in a lesser location, with lesser properties and fewer interested buyers, they instead saw the buyer pool dilute as each apartment sold.
The discounts received by the contestants after completing the sixth "secret" apartment did indeed impact the final result.
Maxine and Karstan had the biggest reserve price due to the size and aspect of their apartment, had an initial reserve of $1.7 million. Their winnings earned them a $1.67 million adjusted reserve.
After Deanne and Darren's final apartment winnings, their $1.6 million reserve was cut to $1,370,000.
Michael and Carlene's reserve was discounted by $20,000, giving them a final reserve of $1.38 million.
Simon and Shannon received a $10,000 discount on their $1,575,000 reserve, with a final reserve price of $1,565,000.
Chris and Jenna did not get placed in the top three at either stage of the challenge, and so missed out on a discount, and had a $1.5 million reserve.
The proceedings began with Chris and Jenna's auction overseen by Anton Wongtrakun of Dingle Partners, which saw three bidders initially compete for the windowless unit. After bidding seemed to snag at the $1.5 million reserve mark, a fourth bidder entered the race, restarting the momentum.
Two bidders battled it out from $1.5 million upwards: what appeared to be a young couple and the other a rather emotive buyer's agent, pushed the price to up to $1.81 million, with the apartment going to the client of the agent.
When Simon and Shannon's apartment went on the block, host Scott Cam announced that Block regular  Damien Cooley was a "very good auctioneer, this bloke". After just two bids, from Frank Valentic and another buyer's agent who bid at The Block Fans v Faves auctions, the home was up for $1.7 million.
The young couple who bid on Chris and Jenna's apartment popped up again, pushing the price up further, before a profusely sweating Valentic placed a $1.9 million bid, securing the apartment.
The subsequent auctions proceeded at a markedly slower pace.
Karl Gillon of Buxton kicked proceedings for Max and Karstan's apartment began proceedings with a number of vendor bids, pushing the price up to $1.68 million. The young couple appeared yet again, putting in a $1.69 million bid. Gillon worked overtime placing vendor bids, acting as the only competitor to the young couple. The apartment sold for $1.71 million to the young couple, resulting in a $40,000 profit for Max and Karstan.
Not quite the wedding gift the disappointed Max and Karstan were expecting. Nor were many other punters, with judge Shaynna Blaze predicting their apartment would <a href="/expert-insights/building/shaynna-blaze-picks-max-and-karstans-apartment-as-the-top-seller-in-the-block-glasshouse">sell for the highest price</a>.
A deflated Deanne and Darren were up next, with their apartment going under the hammer with Russell Cambridge of Biggin &amp; Scott. It seemed that Dee's provincial luxury stylings, which were feared would alienate some buyers, at least brought in some interest from bidders who had not appeared at the previous auctions.
However, things stagnated just after they passed their reserve, with a number of $10,000 bids put the price of their apartment at $1.38 million. The couple ended up with just a $10,000 profit after three months of work. Had they not received their reserve discount prizes, their apartment would have been passed in below reserve.
Michael and Carlene's apartment was auctioned last. The auction, said to have stretched out for an excruciating 45 minutes, saw Matt White of Ray White try to squeeze interest out of the rather small buyer base. Bidding opened at $1.2 million.
A few bidders who had not yet appeared at the previous apartments popped up, but it wasn't much use to Michael and Carlene. Things stalled below reserve at $1.36 million for some time.
Some whispers were exchanged among potential buyers at the $1.36 million mark while White and his fellow agents consulted with Michael and Carlene.
They agreed that the apartment should be passed in should it just reach reserve, as a reserve price sale would result in zero profits for Michael and Carlene.
White returned to let the couple know that a bidder was willing to put in a $1.39 million bid, which White would be forced to accept in accordance with Victorian laws. And so the bidder purchased at $1.39 million.
All in all, the disappointing Block Glasshouse results reflected the market's interest in a bizarre office conversion located on an inner city main street.
 
 
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Smashing win for Simon and Shannon in The Block Glasshouse auctions results

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Property investment show Look at Property aired the first episode of its eighth season last night.
The show, which informs viewers on the property market and offers tips for property investors, features segments such as Open for Inspection and Property of the Week.
Host and producer Julie McBeth says experts on the show cover topics including finance, design, buying, selling and renovation.
"The spring selling season is traditionally the peak time for the market and we are getting lots of interest from people wanting to know what's happening with interest rates, hot spots, property investment and how to get the best price for their homes when they are selling," says McBeth.
"Fletchers, Empower Wealth, Stewart Title Insurance and a range of financial providers and property groups will be sharing their expert advice each week."
The show is also hosted by Des Dowling, pictured above interviewing Michael Bonadio from Adio Properties. Experts who have appeared on the show include Ben Kingsley and regular Property Observer contributor Catherine Cashmore.
Look at Property airs at 8:30pm on Thursday nights on 4ME (channel 74 metro and channel 64 regional). Full episodes are also available on the show's website.
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Look at Property's eighth season debut

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The Block Glasshouse judge Shaynna Blaze predicts Maxine and Karstan's apartment will attract lots of bidders, perhaps putting it ahead of the competition at tomorrow's auction.
Blaze, or "Shaynna from Wantirna" to some, told TV Week that the aspect and size of the apartment apartment at <a href="https://www.realestate.com.au/property-apartment-vic-prahran-117846863" target="_blank">3/121-127 High Street Prahran </a>will appeal to buyers.
"I think there are going to be more people bidding for Max and Karstan's apartment due to the size of it, and it's north facing," she said.
Max and Karstan's apartment has 237 square metres of space. In The Block Glasshouse, first time renovators Chantelle and Steve took out the competition with their <a href="/news/substance-over-style-as-chantelle-and-steve-win-the-block-2014-fans-v-faves">north facing apartment</a>.
While Blaze thinks Max and Karstan's apartment will draw in buyers, she admitted that Carlene and Michael's styling made their apartment her favourite.
"I absolutely love it," she told TV Week.
“Just to walk in to it as a family home – I think that’s what they’ve done beautifully."
Do you agree with Shaynna that Michael and Carlene's is the apartment with the best renovation?
{mijopolls 52}
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Shaynna Blaze picks Max and Karstan's apartment as the top seller in The Block Glasshouse

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Guest observation
Most people seeking to sell their house want to do so quickly and for the highest possible price.
But not everyone takes the steps required to make this a possibility. While buying a house is a major, long-term commitment for most, it is still a decision that is often ruled by the heart. By making a few additions, repairs and alterations to your home, you can make your property attractive to the widest range of prospective buyers possible.
Make first impressions count
It's unlikely that a prospective buyer is going to decide they want to buy based on the outside of the house, but they may make the decision not to after looking over the exterior.
Good impressions should start from the minute people pull up outside, yet too many sellers forget about ensuring the façade of their homes are presentable.
This means everything from the driveway to the garden to the front door should be ready to impress.
<ul>
<li>Keep your lawn mowed at all times</li>
<li>Schedule a regime of weed and leaf clearing</li>
<li>Plant some flowers or shrubs to complement the season</li>
<li>Remove any unnecessary items from your garden and pathways</li>
<li>Make sure your windows are clean and in a good state of repair</li>
<li>Check for missing roof tiles and slates</li>
<li>Walk up to your door and imagine yourself as the buyer. What's your first impression? Would you want to take a look inside?</li>
</ul>
Attend to repairs  
The last thing people, especially first home buyers, want to be worrying about is costly repairs right after moving in.
Unless you're targeting property developers, you'll need to make sure that the obvious, niggling repair jobs that you've been putting off are all attended to in a professional manner. They may seem like quick fix jobs, but a broken doorbell or loose floorboard just gives buyers another excuse to walk away.
If they're easy enough for a new buyer to fix, they should be easy enough for you to fix first.
<ul>
<li>Make sure all your internal doors close properly, and that all the door handles in your home work as they should.</li>
<li>Attend to cracks in the walls and ceilings before painting or papering over them. But be sure to seek professional help from a builder or a structural engineer if the cracks appear serious.</li>
<li>Fix dripping taps and leaks.</li>
<li>Replace broken fly-screens.</li>
<li>Check that all your light fittings are working and that they are fixed with the appropriate light bulb.</li>
</ul>
Modernise and minimise
Keep things simple. While you may have loved the bright colours and quirky items of furniture in your home, the truth is that buyers often respond more favourably to neutral tones and colour schemes.
Buyers need to be given the freedom to imagine their lives in your home, and that can be difficult if it's adorned with patterned wall-coverings, too many personal photos and trinkets and ornaments from your last holiday.
<ul>
<li>Redecorate with neutral tones - magnolia, and shades of white are ideal.</li>
<li>Remove overly personal and niche item</li>
<li>Remove excess furniture and clutter, including newspapers, magazines, and children's toys</li>
<li>Avoid stuffing cupboards and drawers with clutter, as buyers may want to take a close look at the storage space available</li>
<li>If necessary, hire some storage space for items that aren't necessary to daily life. This will allow you to create the image of space, and allow your home to be the star of the show.</li>
</ul>
Get cleaning  
A quick flick of a vacuum cleaner and some light dusting won't cut it when you're showing your home to potential buyers. It's important to remember that your home is probably one of dozens in the area for sale, and even the slightest issue with cleanliness can be enough to scupper your chances of securing a quick scale.
When people are looking for a new home they want a fresh start -- so make sure the property reflects that.
<ul>
<li> Clear every room of furniture and perform a detailed clean on areas that would otherwise escape your attention.</li>
<li>Pay particular attention to the kitchen and bathroom where dirt and grime show up easily</li>
<li>Think about hiring a professional cleaning service just before you start inviting buyers into your home.</li>
<li>Remember that your home should be ready for those last-minute inspections that are an inevitable part of the selling process.</li>
</ul>
Consider hiring a 'home staging' service
 Sometimes, particularly for premium properties, even the most subtle of details can be enough to strike a chord with a prospective buyer. It might be an inviting smell, the way the light flows into a particular room, or the flow of your home's main reception room.
Although hiring an expert to 'stage' your property for viewing comes at a price, the premium it can deliver in the form of a higher sale price could be worth it.
There may be a lot of competition for the attention of buyers in your area. But with some careful planning, maintenance and staging, you can make sure it's your home that stands out on the market.
Zoe Pointon is the co-founder of real estate startup <a href="https://www.openagent.com.au/?tid=1003" target="_blank">OpenAgent</a>.
 
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Getting your property ready to go to the market

<html><body>
Guest observation
Apart from loose monetary policies that lead to toxic lending, such as negative gearing, real estate investments by self-managed super funds (SMSF) and foreign investment, there is another factor behind rapid house price inflation.
Excessive increases in house prices are also caused by unreliable estimates of fair market value price.
To explain in more detail, real estate sales data has its flaws, due to settlement prices not being triggered from actual pre-sale valuations – which remain unchecked throughout the sale process.
What is a pre-sale valuation?   A pre-sale valuation is a comprehensive report put together by a registered valuer. It represents the market value of a property for sale (the price one is expected to get for their property and is subject to any supply and demand curve shifts during the validity period).
During this process, the valuer will look at the land value/ location/aspect, building structure/improvements and condition, building/structural faults, features of the home and recent sales in the area.   For land valuation only, valuers analyse sales of both vacant land and improved properties, making adjustments for the added value of improvements.
When there are unsuitable sales, a valuer will factor in other matters, such as most valuable use of the land, holding costs, taxation, constraints on use such as zoning and heritage restrictions, land size, shape and land features, such as slope and soil type, nearby development and infrastructure and views.
Ignoring the pre-sale valuation
Some results can be triggered from listing prices that may be inflated by matters irrelevant to the value of the property, such as marketing fees, commissions and profits. And yet, banks continue to lend to borrowers and produce flawed valuations to protect their financial position.
The system is obviously skewed towards market manipulation – which in turn has caused rapid increases in house prices and driven the house price values to levels that are economically unsustainable.   The flawed price model system is favoured heavily on the supply and demand side and through rampant speculation – instead of the property's true valuation price. This could easily be addressed by both investors and home buyers gaining access to a pre-sale valuation report (paid for by the seller and part of the contract) as a hedging instrument to minimise the impact of paying too much over the true value price.
This would mean sales data that is relevant and dependable, while dramatically improving bank lending performance.
However, an adjustment valuation for high risk loan to value ratio (LVR) lending, may still be required when the purchase price exceeds the initial valuation price. This would be a shorter version of the report in the sale contract to reflect the purchase price (the new market value price) and to verify that the purchase price was achieved through market demand, than from errors or omissions in the initial report.   As monetary policy makers look for ways to keep the housing market from overheating, it's critically important that the Reserve Bank and Australian Prudential Regulator Authority address the other systemic issues of price inflation.
One is the methodology used to estimate the selling price and the other concerns the reliability of sale price data, but chances of it happening are only likely if house prices come crashing down.
George Rousos is the founder and director of <a href="https://www.itc.nsw.edu.au/index" target="_blank">Industry Training Consultants.</a>  
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The other factor behind our skyrocketing prices

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Joel Robinson

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <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> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Jessie Richardson

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