<html><body>
Although we often hear about the involvement of foreign investors in our residential markets, they also play a substantial role in our commercial property sector.
Here are five commercial property investments from offshore buyers that have made a big impact on our local markets.
<ol>
<li>
Leighton Headquarters, 177-199 Pacific Highway, North Sydney Price: $413.19 million Buyer: Suntec REIT The Singapore based Suntec Real Estate Investment Trust (REIT) purchased the 30 storey, 40,000 square metre Leighton Headquarters tower late last year. However, Leighton Properties retains the lease on 76% of the office space. Suntec REIT was listed on the Singaporean stock exchange in 2004. 
</li>
<li>
ATO Tower, 747 Collins Street, Melbourne Price: $279 million Buyer: CIMB TrustCapital Advisors Singapore CIMB TrustCapital Advisors Singapore spent $279 million on the ATO Tower in Lang Walker's Collins Square Project in Docklands. The ATO Tower is the central feature of the Collins Square precinct, valued at $1.5 billion. CIMB TrustCapital Advisors Singapore is a joint venture between CIMB, a Malaysian investment bank, and Trustcapital Advisors Singapore. The venture's initial fund, Australian Office Fund No. 1 (AOF1), centres around commercial office investments in Sydney and Melbourne, with Canberra and Brisbane as secondary markets. 
</li>
<li>
179 Turbot Street, Brisbane Price: $172 million Buyer: Kumpulan Wang Persaraan Kumpulan Wang Persaraan, Malaysia's second largest pension fund, purchased the Brisbane office tower at 179 Turbot Street late last year. The fund is also an investor in the CIMB TrustCapital Advisors Singapore managed AOF1, the vehicle used to purchase Melbourne's ATO Tower. 
</li>
<li>
Ausgrid building, 570 George Street, Sydney Price: $151.8 million Buyer: Far East Organisation The Ng family's Far East Organisation, Singapore's largest private property developer, bought the Ausgrid building earlier this year. The developer has spent more than <a href="/news/the-ngs-singapores-richest-family-spend-425-million-on-sydney-trophy-property">$700 million on Australian property</a>. Last year, <a href="/news/singaporean-billionaire-philip-ng-buys-yamba-scotland-islands-finest-heritage-home">Philip Ng purchased Yamba</a> in Pittwater for $7 million. The Ngs are Singapore's richest family.  
</li>
<li>
277 Elizabeth Street, Sydney Price: $143 million Buyer: Far East Organisation After purchasing the 277 Elizabeth Street office complex, Far East Organisation is reportedly planning a luxury apartment redevelopment on the site. Other Australian acquisitions include Bob Ell's Clocktower Square in Sydney's Rocks district, and two Park Street buildings for $127 million. The Ng brothers, who inherited the development company from their father, are valued at $10 billion, according to Forbes.</li>
</ol>
</body></html>

jrichardson-uRX5hFdKfN

Five of the biggest commercial property transactions to offshore buyers

<html><body>
Agent: Andrew Noble<img src="/images/2014/09/10/noble-porifle-sept-10.png" alt="" style="float: right;"> 
Company: Vaughan Constructions
Position: Director and general manager
How long have you been in the industry? 
Started out in 1988 as an apprentice carpenter,  26 years ago.  
What's happening in the area you specialise in? 
Currently we have projects in all states around the county (excluding Tasmania) and we’re noticing a distinct trend line for long-term growth objectives. Businesses are thinking beyond the first lease term or their immediate requirements and ensuring their longevity is not constrained by poorly designed or inflexible facilities. This logic, whilst not ground-breaking, shows confidence in the mid to long term economic outlook.
Describe the most interesting property you have sold/leased/developed/managed
A Pet Hotel – It’s amazing how much people love and spend on their pets.
What are the ingredients to being successful in your job? 
Surround yourself with people that are great at what they do and develop those that have potential to get there. And a fully charged iPhone!
What aspects of your role do you enjoy the most? 
The things I enjoy constantly change. The job and the business provides diverse exposure to people, projects and places.
Where would invest a spare $750,000? 
Industrial yields are still attractive but always invest in quality.
Which football team do you support? 
Richmond Football Club… and I still believe!!!
What's your favourite app or techno gadget? 
I love the efficiency that technology can bring. Some technologies offer amazing things or tricks but aren’t what you need. You’ve got to start with the question: what do you need?
About 10 years ago we found our questions couldn’t be answered with what was on offer. We had seen many companies buy technology and shape their business around it, which made absolutely no sense to us.
So, we wrote a script or a detailed brief, sought out the best software developers from around the world and got to it.
We now have a complete project management, procurement and financial suite, and have automated most of our labour draining processes. It beats anything off-the-shelf and makes us efficient - just one of our competitive advantages and we’re always seeking to create more.
We continue to invest in our software year on year.
How do you use social media? 
I follow people on my twitter account but I’m not a tweeter.
<a href="https://www.linkedin.com/company/vaughan-constructions?trk=biz-companies-cym" target="_blank">LinkedIn</a> lets me know company news,  if people move or have a milestone – apart from that I don’t think technology should replace picking up the phone. 
</body></html>

In profile: Vaughan Constructions' director and general manager, Andrew Noble

<html><body>
Located five kilometres south-east from Melbourne's CBD, Prahran has long played second fiddle to its neighbour, South Yarra. But it looks as though the suburb is coming into its own.
The difficult-to-pronounce suburb has a mix of medium to high density housing, including public housing estates, Victorian and Edwardian terrace homes.
However, it's Prahran's new unit market that is particularly interesting, says Australian Property Monitors senior economist Andrew Wilson, especially when considering development in Melbourne's CBD.
"We've certainly got a forest of highrises in the city - you don't have to be a rocket scientist to work out that supply is perhaps ahead of demand at this point," Wilson says.
"But there's plenty of demand rising in the inner suburban high rise market, from Brunswick and moving in an arc all the way to Port Melbourne," he notes. "Prahran is part of that epicenter."
While apartment stock in Melbourne's CBD may have outpaced demand, Wilson does not believe the same is the case in Prahran. 
"Units have been a bit flat in Melbourne, but the Prahran area is becoming more popular," he explains. "I would expect that to continue."
According to Wilson, the area is starting to match its contemporaries in Richmond, Collingwood and Brunswick. 
"They are attracting buyers not just for affordability and proximity, amenities and a higher level of infrastructure, but also lifestyle - the feel of the nieghbourhood."
Prahran is known for its restaurants, bars and shops, particularly along Chapel Street, which runs through Prahran and its neighbours, Windsor and South Yarra. The suburb is also home to one of Melbourne's most well known gay villages, with many gay venues along Chapel Street and Commercial Road. 
"Prahran has always been the poor cousin to South Yarra," Wilson explains, "but I think it's changing because of that high density buzz". That "high density buzz" is something the producers of reality television show The Block Glasshouse are betting on, with reminders each episode that the Prahran office conversion apartments sit in a trendy and contemporary neighbourhood.
According to Wilson, the current median price for a unit in Prahran is $530,000. After a drop in demand in the latter half of 2013, he says price growth has increased in the past six months. 
This two bedroom, north facing Prahran apartment <a href="https://www.realestate.com.au/property-apartment-vic-prahran-117269623" target="_blank">recently sold</a> for $512,000. 
<img src="/images/2014/09/10/p1.jpg" alt="">
According to Wilson, Prahran's growth will be sustained by a trend towards apartment living, particularly among younger buyers looking for a smaller spatial footprint, and who don't necessarily require a backyard or large accommodation.
"Developers have a good turnover of stock in that area, particularly from younger buyers looking for affordable living," he says, though he notes that the area is becoming less affordable for some.
"I would certainly expect to see demand continue to outstrip supply - developers in that area can't get enough. It's a bit different to a couple of kilometres down the road."
Houses in Prahran may also appeal to those looking for low maintenance, small homes with a higher budget, with many cottage offerings. According to RP Data, July saw a median house price of $1,177,000 million in Prahran.
This <a href="https://www.realestate.com.au/property-house-vic-prahran-117668631" target="_blank">single fronted brick cottage</a> with two bedrooms sold for $1,175,000 last week. <img src="/images/2014/09/10/p2.jpg" alt="">
Feature photo of Chapel Street courtesy of Mat Connolley/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by/2.5" target="_blank">CC BY 2.5</a>.
</body></html>

Suburb spotlight: Does Prahran offer an alternative to inner city Melbourne oversupply?

<html><body>
A Tudor style bedroom house in Sydney's Bellevue Hill topped RP Data's list of last week's top 10 sales.
Property developer Vera Boyarsky, of Anka Property Group, sold the family home after 15 years of ownership. The business run by Boyarsky and her son, Andrew Boyarsky, are responsible for the $200 million Union Balmain development in Rozelle, and the development of Liberty Grove.
Boyarsky's five bedroom home sold for $8.3 million through Ray White Double Bay - more than double the price of the second most expensive property sale of the week.
RP Data's top 10 sales of last week:
<a href="https://www.raywhite.com/nsw/bellevue-hill/1177444/" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">  48 Kambala Road, Bellevue Hill, NSW</a> (pictured above)
The Boyarsky family residence, with five double bedrooms and five bathrooms, sits on a 923 square metre block in Bellevue Hill. The privately gated property features lawns, a heated swimming pool and a self contained guest house with a sound proof music room.
The main house has marble and timber floors, with formal and informal living and dining areas and substantial basement storage.
<a href="http:/www.barryplant.com.au/property/101360/511-belgrave-hallam-road-lysterfield/" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;"> 511 Belgrave-Hallam Road, Lysterfield, Vic</a>
<img src="/images/2014/09/10/b.jpg" alt="">
A seven bedroom, seven bathroom house in Melbourne's outer suburbs sold for $3.4 million at auction through Barry Plant Rowville. Set on a 23 hectare plot, the sprawling house boasts seven formal and informal living areas and three kitchens.
The property, which the listing information states once belonged to an international diplomat, also features a tennis court, pool, machinery shed, a temple and "the foundations of an 18-hole golf course".
The vendors paid $2.5 million for the home in 2004.
<a href="https://www.realestateview.com.au/Real-Estate/16-somers-avenue-malvern/Property-Details-buy-residential-7489385" target="_blank"><img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">  16 Somers Avenue, Malvern, Vic</a>
<img src="/images/2014/09/10/malvern_0006_7.jpg.jpg" alt="">
The Malvern home of winemakers Jonathan and Andrea Hamer sold for $3.38 million through Marshall White Armadale this week. Jonathan Hamer paid $625,000 for the 1930s era home in 1991.
The five bedroom, three bathroom house sits on a 1,100 square metre plot. It was passed it at $3.26 million at its weekend auction, and <a href="http:/www.propertyobserver.com.au/forward-planning/advice-and-hot-topics/title-tattle/35375-malvern-trophy-home-sells-post-auction-hamer-s-dutch-gabled" target="_blank">sold after auction</a>.
<a href="https://rwdbgroup.com/nsw/rose-bay/1175816/" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">  49 Dover Road, Rose Bay, NSW</a>
<img src="/images/2014/09/10/sales-sept-10-one.jpg" alt="">
This four bedroom, three bathroom house sold for $3.31 million through Ray White Double Bay. The home, sitting on a 550 square metre block, comes with a solar heated saltwater pool, with lawns and outdoor entertaining areas. The vendors purchased the house for $952,000 in 1998 from David Gazal, an executive director publicly listed apparel company Gazal.
<a href="https://www.realestate.com.au/property-house-vic-malvern+east-117678583" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">  44 Clarence Street, Malvern East, Vic </a>
<img src="/images/2014/09/10/5.jpg" alt="">
Another Malvern home sold by Marshall White Armadale made it onto this week's top 10 list. 44 Clarence Street, a four bedroom, two bathroom home, sold for $3.13 million this week. The house, featuring oak floors, a full marble kitchen with butler’s pantry and gas fireplaces is accompanied by north facing gardens.
This article continues on the next page.
<hr class="system-pagebreak">
 
<a href="https://www.realestateview.com.au/Real-Estate/66-alexandra-avenue-canterbury/Property-Details-buy-residential-7470997" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;">  66 Alexandra Avenue, Canterbury, Vic</a>
<img src="/images/2014/09/10/f.jpg" alt="">
This two storey Canterbury home secured $3.02 million when sold htrough Marshall White Hawthorn last week. The home, built in 2004, has five bedrooms and two bathrooms. In addition to the open plan living and kitchen area, there is a separate sitting and dining room with an open fire place.
The vendors purchased the 585 square metre plot in 2003 for $820,000.
<a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-117660347" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;">  24 Rivers Street, Bellevue Hill, NSW</a>
<img src="/images/2014/09/10/7.jpg" alt="">
Sotheby's International Realty Sydney sold this four bedroom, two bathroom home for $2.65 million. The single-storey house has open plan living and dining areas which open onto the sunny north-facing garden. The house was last traded in 2010 for the exact same price.
<a href="https://www.realestate.com.au/property-house-vic-malvern+east-117638475" target="_blank"></a><a href="https://www.realestate.com.au/property-house-vic-hawthorn+east-117643927" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="" style="float: left;"></a>  <a href="https://www.realestate.com.au/property-house-vic-malvern+east-117638475" target="_blank">9 Sydare Avenue, Malvern East, Vic</a>
<img src="/images/2014/09/10/8.jpg" alt="">
The third home in Melbourne's Malvern area to make the top 10 list this week is a contemporary home inspired by Bali. It sold for $2.61 million through Gary Peer and Associates Caulfield North.
The house has five bedrooms and five bathrooms, with a living and dining area, kitchen with butler's pantry and butler's kitchen, home theatre, upstairs retreat and a rumpus room. The vendors purchased the 721 square metre property for $950,000 in 2009.
<a href="https://www.realestate.com.au/property-house-vic-hawthorn+east-117643927" target="_blank"> </a><a href="https://www.realestate.com.au/property-house-nsw-strathfield-117533607" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="" style="float: left;"></a><a href="https://www.realestate.com.au/property-house-vic-hawthorn+east-117643927" target="_blank"> 1b Lingwell Road, Hawthorn East, Vic</a>
<img src="/images/2014/09/10/9.jpg" alt="">
A four bedroom, four bathroom house sold for $2.61 million through Noel Jones Camberwell. The contemporary home features distinctive polished floors throughout the living areas and the open plan kitchen, which includes an island bench and three ovens. Its master bedroom is located downstairs, with an adjacent study. Outside, there is decking and a pool and spa with its own bathroom and bar. The vendors purchased the 723 square metre site for $505,000 in 2004, before building the current home in 2008.
<a href="https://www.realestate.com.au/property-house-nsw-strathfield-117533607" target="_blank"> <img src="/images/2014/07/04/yellow-ten.jpg" alt="" style="float: left;"> 17 Cotswold Road, Strathfield, NSW </a>
<img src="/images/2014/09/10/10.jpg" alt="">
Located on Strathfield's "Golden Mile", this brick cottage was sold for $2.48 million through Devine Real Estate Strathfield. The three bedroom house sits on a 858 square metre block, with 20 metre frontage.
The house includes a formal lounge and a open plan kitchen and living area which overlook the backyard. Last week's sale marks the first time the home has changed hands in 72 years.
</body></html>

Vera Boyarsky's 1920s Bellevue Hill Tudor trophy home the top sale of the week: RP Data

<html><body>
The median price for a unit in Melbourne was $460,000 for the August quarter, according to RP Data.
Unit prices were up 5.2% for the quarter, with 6.2% growth over the 12 months to August.
Property Observer looks at recent unit sales in Melbourne's inner and middle suburbs to see what you can buy for $460,000 and how the regions compare.
Inner ring: 0-10 kilometres from Melbourne's CBD
<a href="https://www.realestate.com.au/property-apartment-vic-north+melbourne-117647391" target="_blank">201/9-13 O'Connell Street, North Melbourne</a>
<img src="/images/2014/09/08/1.jpg" alt=""> This two bedroom, one bathroom apartment in North Melbourne sold for $465,500 in August.
Located minutes from the Queen Victoria Market, the city fringe apartment has a balcony and open plan living space, with a galley kitchen. There are floorboards throughout the living space and the bedrooms are carpeted. The largest bedroom has an area of 8.96 square metres, and the apartment has a total internal floor size of about 48 square metres. The apartment's price sits below what is typical for North Melbourne: according to RP Data, North Melbourne's median unit price for July was $528,752.
<ul>
<li>Price: $465,500</li>
<li>Bedrooms: Two</li>
<li>Car spaces: One</li>
<li>Drive to CBD: Walking distance</li>
</ul>
<a href="https://www.realestate.com.au/property-apartment-vic-docklands-116289735" target="_blank">603/673 LaTrobe Street, Docklands</a> <img src="/images/2014/09/08/2.jpg" alt=""> A two bedroom apartment in Docklands sold for $465,000. The apartment has 52 square metres of internal space, with a 6.7 square metre balcony. Both bedrooms include built in robes, with carpeted bedrooms and floorboards in the living areas. The master bedroom has a floor size of 9.6 square metres, but the irregularly shaped second bedroom is slightly larger, with 10.2 square metres of floor space. The complex includes an outdoor pool and a gym. This apartment is more than $100,000 cheaper than the Dockland's July median of $575,000.
<ul>
<li>Price: $465,000</li>
<li>Bedrooms: Two</li>
<li>Car Spaces: One</li>
<li>Drive to CBD: Walking distance</li>
</ul>
 Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Middle ring: 10-20 kilometres from the CBD <a href="https://www.realestate.com.au/property-apartment-vic-heidelberg-117456639%20" target="_blank"></a>
<a href="https://www.realestate.com.au/property-apartment-vic-heidelberg-117456639" target="_blank">5/77 Yarra Street, Heidelberg</a> <img src="/images/2014/09/08/3.jpg" alt=""> This two bedroom apartment is located in Heidelberg, 11 kilometres from the Melbourne CBD. It sold for $462,500 early last month. Each of its bedrooms include built in robes, and the apartment includes a full sized kitchen and meals area, a living and dining area and a bathroom including bath. Its largest bedroom is 12 square metre. The apartment's balcony faces north, with views to the ranges. The apartment is more expensive than the suburb's median of $410,750.
<ul>
<li>Price: $462,500</li>
<li>Bedrooms: Two</li>
<li>Car spaces: One</li>
<li>Drive to CBD: 20 minutes</li>
</ul>
<a href="https://www.realestate.com.au/property-apartment-vic-donvale-117526691" target="_blank">Donvale</a>
<img src="/images/2014/09/08/4.jpg" alt=""> Located in the eastern suburb of Donvale, 19 kilometres from the Melbourne CBD, this apartment sold for $459,000 in August. The two bedroom, one bathroom unit has a modern kitchen, a central bathroom, European laundry and an open plan living and dining area. This unit with about 65 square metres of internal space also has a balcony with parkland views. It is located with direct access to public transport and the Eastern Freeway. According to RP Data, Donvale's median unit price was $565,000 for July.
<ul>
<li>Price: $459,000</li>
<li>Bedrooms: Two</li>
<li>Car spaces: One</li>
<li>Drive to CBD: 23 minutes</li>
</ul>
</body></html>

Melbourne's median price apartments: How do they compare across the regions?

<html><body>
First home buyers are often working with a different set of requirements than more experienced investors.
With fewer working years behind them, beginners are likely to have a smaller deposit to work with and fewer assets than upgraders or downsizers - and much less experience.
Financing is a large part - perhaps the largest part - of securing your own home, and many lenders are aware of the circumstances facing first home buyers.
Once upon a time, the Rudd government introduced First Home Savers Accounts, where savers could receive a government co-contribution of up to $1,020 on the first $6000 savers deposited each year. They were also eligible for a range of tax concessions, but were faced with a number of restrictions on when they could withdraw their money.
The First Home Saver Account scheme was <a href="/expert-insights/buying/four-things-you-must-know-about-the-axed-first-home-saver-accounts">scrapped by the Abbott government</a> this year, leaving some confused as to whether the <a href="/expert-insights/buying/do-the-first-home-saver-account-eligibility-requirements-still-apply">restrictions still apply to their accounts</a>. While ME Bank have <a href="/expert-insights/finance/me-bank-looks-for-an-answer-to-scrapping-of-first-home-saver-accounts">suggested they may offer a similar product</a> in the future, it has not yet eventuated.
Now, with no federal scheme supporting first home savers, it's up to them to seek out the best deals from lenders to finance their first purchase.
Lenders Mortgage Insurance
One option is seeking out a lender that will accept a small deposit. When putting down a deposit lower than the standard 20%, many lenders will require you to pay for lenders mortgage insurance (LMI), which will protect them against a loss should you default on your home. This isn't a product that is unique to first home buyers, but can be used by buyers across the board who don't want to make a 20% deposit.
While it might be <a href="/expert-insights/buying/what-can-you-buy-with-a-25-000-deposit">tempting to put down a 5% or 10% deposit</a> and pay the few thousand dollars for LMI, keep in mind that you're not exchanging money for equity in your home (as you would be if you increased your deposit size) and the money cannot be recovered when you sell your house.
Beyond grants, it's mostly up to mortgage brokers and lenders to deliver products that may make life easier for first home buyers. Here are some of the available options.
Guarantors
While some parents don't want to contribute money to their child's deposit, they can support a first purchase by acting as a guarantor. A guarantor has a legal obligation to pay back a loan if the borrower (often their child) can't continue making their repayments. Occasionally, a lender will require a guarantor to use their home or a large asset as security for a loan. Sometimes guarantors can set a limit on the amount they'll contribute to a loan.
With a guarantor, a first home buyer making a 10% deposit can often forgo or reduce LMI. A number of different lenders accept guarantors - Beyond Bank has a <a href="https://www.beyondbank.com.au/personal-banking/home-loans/first-home-buyers-loan" target="_blank">"Parent Equity" scheme</a>, while St George refers to the practice as a <a href="https://www.stgeorge.com.au/personal/home-loans/tools/home-loan-features/family-pledge" target="_blank">"Family Pledge"</a>.
While guarantees are often associated with parents, some lenders accept friends as guarantors. Resolve Finance offers guarantor home loans where a friend or family members use the equity in their own homes to guarantee a loan, allowing borrowers to go without a deposit.
While guarantors sound good, beware. If there is any doubt over your ability to repay your loan, you could end up costing your guarantor their home or retirement savings.
First home buyer packages
A number of lenders offer first home buyer "packages" or specialist products. The discounts or benefits they offer vary (as does their value).
Commonwealth Bank offers a <a href="https://www.commbank.com.au/personal/home-loans/first-home-buyer-offer?gclid=cotw6i6av8acfdr8vqodjbkaiw&amp;c" target="_blank">$1,000 cash bonus on your first loan</a>, which could be straightforward and appealing to some.
In South Australia, first home savers using <a href="https://www.homestart.com.au/buying-a-home/I-m/first-home-buyers" target="_blank">Home Start Finance</a> can make a deposit as low as 3% of the value of your loan, and the First Home Owner Grant is included in deposit calculations.
Meanwhile, <a href="https://www.bankmecu.com.au/borrowing/loan-packages/first-home-buyers-loan-package" target="_blank">bankmecu</a> offers a first home buyers loan package where borrowers can pay $350 per year in exchange for lower rates, three months free building insurance during settlement, 10% off  general insurance premiums and no monthly or additional repayment fees, subject to certain conditions.
Other lenders, such as the <a href="https://www.nicu.com.au/loans-home-loan-packages" target="_blank">North Ireland Credit Union</a>, get even more creative, with furniture vouchers and credit card incentives.
If you are considering a first home buyer package, go in with open eyes and take some time to do your calculations. Think about what's valuable to you - would you prefer to pay a set fee every year for the possibility of lower rates? This could be a worthwhile option, but only if the saving in interest is greater than your yearly fee. Don't simply take up first home buyer packages because they look good superficially, but consider as many loan options as you can.
In deals not exclusive to first home buyers, lenders are also <a href="/expert-insights/finance/record-low-fixed-rates-who-is-offering-them">offering record low rates: </a>ME Bank currently offers a 4.94% rate on their three year fixed rate loan. However, bear in mind that added flexibility offered by a variable loan. 
Take the time to look at the short-term incentives available, but don't forget - buying a home is a long-term commitment.
</body></html>

Finance deals for first home buyers 

<html><body>
White homes can provide a valuable sense of space and light, but not everyone believes that brighter is better.
Property Observer looks at six outstanding homes with black façades. Will an all black exterior alienate some buyers? Almost certainly - though it didn't hurt the sale of this <a href="/expert-insights/investing/pre-auction-2-million-deal-for-kings-cross-special-offering">this 'special' Kings Cross offering</a> which secured $2 million pre-auction. And as the late Australian architect Kevin Borland once said, "architecture is not for the faint hearted".
<ol>
<li>
<a href="https://studiofournews.com/category/current-projects/ridge-road-residence-current-projects/" target="_blank">Ridge Road Residence, Mornington Peninsula, Vic</a> <img src="/images/2014/09/05/dezeen_Ridge-Road-Residence-by-Studio-Four_ss_3.jpg" alt=""> Photo by Shannon McGrath, courtesy Studio 4 Designed by Melbourne architecture practice Studio 4, the Ridge Road Residence was a finalist in the 2012 Houses Awards and received a special mention in the Architizer A+ Awards for the single home category. Rather than combating its sloping site in the Mornington Peninsula's Golf Course, the Ridge Road Residence works with the topography, sitting over a series of connected decks. The entire front side of the home made entirely of blackened timber walls and the second level is unseen. On the lower levels, the home's black exterior is offset by floor to ceiling windows, pale timber floors and, outside, a single tea tree. 
</li>
<li>
Karri Loop House, Margaret River, WA <img src="/images/2014/09/05/Karri-Loop-House-by-MORQ-_dezeen_13.jpg" alt=""> Photo by Peter Bennetts, courtesy MOOQ At Margaret River, south of Perth, sits the Karri Loop House, by MORQ. The small firm, which practices in Perth and Rome, designed a black home which winds around one Karri and two Marri trees. The house features double height ceilings, with large windows giving the residents views of the trees from the living room and master bedroom. The home is entirely clad with plywood, both inside and out (although the interior misses out on the coat of black paint). The house has exposed wooden ceiling beams and is insulated by concealed straw bales inside the walls. 
</li>
<li>
<a href="https://www.realestate.com.au/property-townhouse-vic-newtown-117638207" target="_blank">2a Russell Street, Newtown, Vic </a> <img src="/images/2014/09/05/main.jpg" alt=""> This black clad townhouse in Geelong's inner west is currently on the market. Its dark façade contrasts with the light, bright interior. With polished concrete floors, light timbers and white used throughout most of the house, its exterior is only referenced occasionally, with a dark timber in the kitchen and a black tiled feature wall in the bathroom. The home is listed with a $679,000 to $791,000 price guide. 
</li>
<li>
<a href="https://www.mcbridecharlesryan.com.au/#/projects/klein-bottle-house/" target="_blank">Klein Bottle House, Mornington Peninsula, Vic</a> <img src="/images/2014/09/05/klein.jpg" alt=""> Photo courtesy McBride Charles Ryan. The Ridge Road Residence isn't the Mornington Peninsula's only standout black house. The Klein Bottle House, designed by McBride Charles Ryan, also sits among the tea trees, near Rye beach. McBride Charles Ryan used a spiral configuration to navigate the uneven site, creating a multi-faceted home that centres around an angular, bright red, winding staircase. The house's dramatic exterior is made of cement sheeting. The Klein Bottle House won the World's Best House award in the 2009 World Architecture Festival, the Best International Home award from Grand Designs 2010, the 2008 Robyn Boyd Award from the Australian Institute of Architects, and a Dulux Colour Award. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-brighton-111628147" target="_blank">184 The Esplanade, Brighton, Vic</a> <img src="/images/2014/09/05/brighton.jpg" alt=""> This Brighton home is a far cry from some of the hulking bleach-white contemporary homes that Brighton offers, but certainly isn't the only all black home to crop up on the Esplanade (<a href="https://finnisarchitects.com.au/portfolio/esplanade-brighton/" target="_blank">Finnis Architects' Esplanade House</a> comes to mind). The home at 184, currently on the market, registers as a stack of black boxes from the exterior, with full height glass windows looking out onto the beach. The house culminates in a rooftop terrace, with black structures framing the view of the water. The four bedroom, five bathroom house with a pool is currently on the market through Kay &amp; Burton Bayside. 
</li>
<li>
<a href="https://muirmendes.com/law-street-house" target="_blank">Law Street House, South Melbourne, Vic</a> <img src="/images/2014/09/05/law%20street.jpg" alt=""> Photo by Peter Bennetts, courtesy Muir Mendes Amy Muir and Bruno Mendes designed this home for themselves on a tight 93 square metre site, which formerly held an 1880s one bedroom worker's cottage. The entrance of the home is marked by a distinctive "draw bridge" style window which allows light into the front bedroom while maintaining privacy. The architects used double height spaces and sky lights to draw light into the space and provide a sense of a space in the narrow, confined space.</li>
</ol>
</body></html>

Black Friday: Six houses with black façades

<html><body>
Students in Newcastle are ditching the dodgy sharehouses and putting forward more cash for contemporary homes, claims one agent marketing a townhouse development close to the University of Newcastle.
Mark Kentwell, managing director of PRDnationwide Newcastle and Lake Macquarie, said students are willing to pay for more comfortable accommodation - with the help of their parents.
"Many student houses are older-style homes which have had verandahs and dining rooms converted into extra bedrooms,” said Kentwell.
“Students are now seeking out more comfortable, clean and modern living quarters with built in wardrobes and space to study in their rooms.
“Often students have some form of financial assistance from their parents who generally prefer to see them in better properties.” Kentwell claims that the increase in students from Sydney and overseas attending the University of Newcastle, is driving the demand for higher quality student accommodation.
The University of Newcastle ranks highly among Australia's newer universities, with Times Higher Education naming the it the world's 28th best university under 50 years old.
According to Kentwell, developers are rethinking the student housing market as the University of Newcastle grows.
“They’ve recognised that students are a key driver of housing demand and price growth in the area,” he said.
“As this growth continues it will put pressure on existing student-friendly housing.
“Savvy developers have seen this and they are rolling out product to meet this burgeoning, yet discerning, market.”
PRDnationwide is marketing Shortland Terrace at Shortland, which is yet to launch. Kentwell said the eight townhouses, located 500 metres from the University of Newcastle's main campus, will be marketed to investors.
</body></html>

Newcastle students keen to upgrade, says agent

<html><body>
Reserve Bank of Australia chief Glenn Stevens has acknowledged the "elevated level of housing prices", as record low interest rates continue for another month.
In a speech made in Adelaide on Wednesday, Stevens noted the prospect of fostering excessive risk-taking behaviour in the financial sector, warning that if people over-commit themselves financially, the economy could be vulnerable to "nasty shocks". 
"It is stating the obvious that at present, while we may desire to see a faster reduction in the rate of unemployment, further inflating an already elevated level of housing prices seems an unwise route to try to achieve that," said Stevens.
According to RP Data, home prices in Australia's capital cities rose by 4.2% in the quarter to August, the highest winter price gain since 2007. The growth was largely driven by Sydney and Melbourne, where median dwelling prices rose by 5.0% and 6.4% respectively.
Unemployment sits at a 12 year high of 6.4%. 
Economists from Australia's major lenders have declared that there is no housing market bubble, others, including AMP Capital chief economist Shane Oliver, also consider Australian housing <a href="/expert-insights/buying/overvalued-housing-price-problem-returns-with-vengeance-amp-capitals-shane-oliver">expensive on a long-term basis</a>. 
Oliver said that the low interest rate climate has been a major factor in recent property growth, and there is potential for interest rates to encourage people to take on an imprudent level of risk.
"There's no doubt that low interest rates are driving the upswing in property prices," said Oliver. "When interest rates are cut, one of the ways that helps the economy is that it forces investors to take their money out of low risk investments like bank deposits, and move it to higher risk investments like housing and shares." 
However, Oliver maintained that Australian's level of financial risk is "not excessive in aggregate".
"The rate of growth in credits in Australia is still quite modest, by the standards of the past," he said, noting the Reserve Bank's credit statistics for July. Overall credit grew by 5.1% in the year to July, with 6.5% growth in housing credit. 
"At a 6.5% year on year rate, it's much lower than the 20% plus growth we saw a decade ago," said Oliver.
The Reserve Bank has maintained a record low overnight cash rate of 2.5% since August 2013, a policy Stevens said "could perhaps be described as boring". 
"If so, I would regard that as a small success," said Stevens, who highlighted the "stability and predictability" of the current interest rate structure.
You may also like to read: <a href="/expert-insights/finance/standby-for-rba-jawboning-on-overheated-sydney-and-melbourne-auction-markets">Standby for RBA jawboning on overheated Sydney and Melbourne auction markets</a>
</body></html>

Further inflating housing market "unwise": RBA's Glenn Stevens

<html><body>
NAME: Philip Stephens<img src="/images/2014/09/03/Philip-Stephens-profile.png" alt="" style="float: right;">
POSITION: Director, industrial
COMPANY: Colliers International
OFFICE LOCATION: Level 20, Central Plaza One, 345 Queen Street, Brisbane.
How long have you been in the industry? 
10 years
What's happening in the area you specialise in? 
I specialise in Brisbane's industrial market. There has been a number of large logistics users take advantage of sharp rental deals. With these users vacating it has resulted in a large supply of older style buildings, many of which are in the process of being refurbished for their next lifespan.
Activity from both small investors and large REITs has been strong, with some investors buying older assets with leasing risk and benefiting from the rental uplift.
Describe the most interesting commercial property you have worked on? 
A World War Two Igloo which I sold for Thiess Mining for $6,200,000. It was a complicated lease back situation with the building being heritage listed.
What are the ingredients to being successful in your job?
Hard work, persistence and first class market knowledge.
What aspects of your role do you enjoy the most? 
Meeting a variety of business people and understanding how they grew their business.
Where would you invest a spare $750,000?
Either an industrial building with some leasing risk or the share market.
Which football team do you support? 
Quennsland Reds.
What's your favourite app or techno gadget?
<a href="https://www.strava.com/" target="_blank">Strava</a>.
How do you use social media?
I primarily use LinkedIn and Instagram. <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/philip-stephens/30/565/40" target="_blank">LinkedIn </a>is a very useful tool I use regularly as it assists me in communicating with a range of different clients and allows me to promote other industry groups I am a part of.
</body></html>

In profile: Colliers International's director, industrial, Philip Stephens

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

Joel Robinson

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Jessie Richardson

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News