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Financial adviser Paul Clitheroe says despite a string of rate cuts in the last 12 months, many borrowers are still paying more on their home loan than they were three years ago.
"Home owners may have breathed a sigh of relief when the Reserve Bank of Australia (RBA) announced its latest cut to official interest rates but keep a close eye on how your lender responds," he said.
"If you're not getting a decent share of the recent rate cut, it could be time to find a better deal,' said Paul Clitheroe who is a founding director of financial planning firm ipac, chairman of the Australian Government Financial Literacy Board and chief commentator for Money magazine.<a href=""></a> "The RBA's official cash rate of 3.25% is now at a 3-year low, and the October rate cut will undoubtedly be welcomed by families with a variable rate mortgage as the expensive holiday season is just around the corner.
However despite a string of rate cuts in the last 12 months, many borrowers are still paying more on their home loan than they were three years ago."
 He said it essential for borrowers to keep track of their home loan rate and compare it to what was available elsewhere.
"<a href=""></a>The cash rate may be at its lowest level since October 2009, but the same can't be said about mortgage rates."
Back in October 2009, when the cash rate was also 3.25%, the average rate on standard variable loans was 5.7%.
T<a href=""></a>he average is 6.35% now - but Clitheroe says with some shopping around borrowers can secure a far lower rate.
He noted according to comparison site RateCity, the difference between the lowest and highest variable home loan rates is currently 1.8%.
"On a loan worth $300,000 that can mean paying an extra $355 per month - money that's going straight to your lender's coffers with no benefit to you," he said on his website, <a target="_blank" href="https://www.paulsmoney.com.au/">www.paulsmoney.com.au</a>.
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jchancellor-FAypfDUnLy

Paul Clitheroe says time to shop around for cheaper varaiable interest rates

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The Carss Park mansion of the champion boxer Kostya Tszyu and his wife, Natasha, is back for sale after the intending buyer did not proceed to settlement.
It had been listed with $3 million-plus auction hopes in July and passed in at $3.25 million through Mark Kourouche of First National Real Estate Greenacre.
It's now listed with offers over $2.85 million being sought.
The Benwerrin Avenue property was reportedly sold for $3.5 million a week after passing in at its July auction.
Tszyu's wife, Natasha, told News Ltd the deadline for a deposit to be paid passed last month with little word from the buyer, who was believed to be a friend of her husband's.
The highest price paid in Carss Park was $2.45 million in late 2008 for a five-bedroom, seven-bathroom house on a 1,865-square-metre Gnarbo Avenue block.
The Russian-born Tsyzu has since returned to his homeland to reside after the house was <a href="https://www.propertyobserver.com.au/new-south-wales/boxer-kostya-tszyus-carss-park-mansion-under-offer-as-former-champ-aims-to-knock-out-suburb-record/2012070455423">under offer in July</a>.
<a href="https://www.propertyobserver.com.au/new-south-wales/boxer-kostya-tszyu-seeks-to-knock-out-carrs-park-record/2012062655273" target="_blank">His six-bedroom, eight-bathroom residence </a>has been renovated and extended since the couple bought it for $785,000 in 2000. He had previously lived at Sans Souci.
The 2,400-square-metre Benwerrin Avenue property has resort-style facilities including a tennis court and heated saltwater pool.
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Boxer Kostya Tszyu’s Carss Park mansion back up for sale

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Socceroo Jason Culina and his wife, Terri, has reputedly spent about $1.3 million to buy a colonial mansion at Ingleburn in Sydney's western suburbs.
It's one of NSW's most significant colonial palladian houses, Denham Court, and was built by Captain Richard Brooks, the enterprising sailor who settled at the Ingleburn holding in 1820.
The distinctive two-storey front-section extension was designed by John Verge in 1832, having had its initial stages constructed over earlier deacdes.
The sale of the 2.42-hectare holding with heritage-listed five-bedroom residence was by the Okey family, who first listed it more than two years ago with higher hopes, but on a much larger land holding.
The mansion comes with a ballroom, library and large formal living and dining rooms. It was based on the design of <a target="_blank" href="https://rwmg.com.au/nsw/denham-court/773532/">Denham Court</a>, the 1670 ancestral Buckinghamshire, England, property of Judge Advocate Richard Bowyer Atkins, the original owner of the land grant of 200 hectares made by Governor Lachlan Macquarie.
The nearby suburb of Denham Court is named after the property. It sold through Tim Doyle of Ray White Macarthur Group
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Socceroo Jason Culina scores $1.3 million colonial western Sydney mansion

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Potential hotspot suburbs are the holy grail for property investors, but that oughtn’t necessarily be the wisest course.

By the time the mass-selling magazine publications hit the newsagency, locations that have a red-hot reputation have most likely passed their invest-by date – or at least are getting close to over satuaration by those who have gotten in before the tipster following herd.
Picking and purchasing property gems before they have got theirshine is the wisest strategy,which Residex forecaster John Edwards says involves buying at the right price, in the right place and at the right time.
Investors shouldn’t totally ignore the magazine tipsters, but sensibly should be seeking out individual property that represents good buying value, whereever it’s located.
Finding the property that suits your portfolio aided by insights from mentors.
These magazine hotspot lists are all too often way too cursory – they ought to be read and filed in your burgeoning library of research data, as they will be a handy resource and reference book, a template for starting the research, but I wouldn’t use them as a call to action.
Much of the current hotspots buzz centres on mining towns.
And there’s no better example of the hotspotting herd getting it terribly wrong than Zeehan, the picturesque small west coast Tasmanian town with a population of around 850.
It had significant speculative investment from 2003 to 2008, largely driven by mainlanders seeking dwellings with good rental returns at the cheapest end of the national market.
The investor demand had been driven by a number of exposés of the town promoting it as a hotspot.
Things really took off after a 2006 segment on Channel 9’s A Current Affair highlighted the town as the cheapest for housing in Australia.
Prices that were around $10,000 in the early 2000s jumped to $80,000 after the ACA story and then went as high as $150,000, even $190,000 in one sale, at the time of the Avebury nickel mine opening.
They’re now back to $100,000, according to a recent Australian Housing and Urban Research Institute (AHURI) study by Professor Andrew Beer.
While the June 2008 opening of the mine assisted prices along, the mothballing of the mine just six months later in December 2008 – and the loss of almost 200 jobs – has since caused house prices to plummet dramatically.
In its wake there’s been a procession of residential investors defaulting on their mortgages and business closures all too common.
Currently, Zeehan’s housing market is described as depressed by Beer and unlikely to recover from this position until the Avebury mine reopens.
A quick search of recent sale around Zeehan didn't take long before Property Observer uncovered<a target="_blank" href="https://www.myrp.com.au/n/40-leventhorpe-street-zeehan-tas-7469/myrp-490?propertyId=14156489"> one cottage sold at $147,500 in 2007 that resold this year</a> at $66,000. It had been a much speculated property selling for $20,000 in 2004, at $13,000 in 2002 and at $7,000 in 2002, according to RP Data. Nearby <a target="_blank" href="https://www.myrp.com.au/n/1-severn-street-zeehan-tas-7469/myrp-490?propertyId=14156703">a vacant building block that fetched $33,000 in 2007</a> sold for $5,250 earlier this year.
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And despite their apparent cheapness, any investor would need to think long and hard about the location even now. With poorly maintained residential stock, lack of services and funding for local infrastructure, along with the poor overall Tasmanian economy, it’s very much a case study of a town and state in decline.
Indeed Beer wrote in June 2012 that <a href="/news">Zeehan </a>was emblematic of the mining industry generating a whole new housing dynamic with great volatility.
And of course, the mere term “hotspots” implies volatility – investors getting in and out of a market in quick succession.
Nothing about property being for the long-haul strategy here.
Boom/bust markets ought to be treated with utmost caution – and are not necessary within the sustainable portfolio of savvy investors.
It is true that sometimes the greater the risk, the greater the reward, so for some it represents an engaging endeavour.
As an independent news analysis and advise website, Property Observer has the advantage of cherry-picking some of the good ideas of many experts with national profiles.
But do your homework and stick to what’s suitable for your situation.
Have your wits about you not only when it comes to the property and its location, but also its promotion.
Investors ought to bear in mind who is making the recommendation, what interest they may have in the hotspot and whether they will earn commission income from the sale of real estate in this area.
By all means go ahead, so long as you’re happy with the transparency of the transaction.
It is essential against this backdrop that investors arm themselves with sufficient research to make a considered investment.
The cursory overview provided by the magazines just isn't sufficient to make such important investment decisions.
Terry Ryder, from the independent <a target="_blank" href="https://www.hotspotting.com.au">www.hotspotting.com.au</a> website, says all the information you could ever need is out there.
Anyone with internet access can find it, he says.
But the challenge is to know where to look and to have the time to appraise the market intelligence. Like Terry, I have been writing about property for more than 25 years, and I've learnt that getting passionate about property is easy. Getting it right is trickier.
The news, analysis, commentary and data that is available on Property Observer is all aimed at assisting that endeavour to a hopefully profitable outcome for you.
For more, dowload our free eBook<a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-tools-for-getting-through-the-hotspot-tipping-maze"> Tools for Getting Through the Hotspotting Tipping Maze</a>
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Getting passionate about property is easy but getting it right is trickier

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Some 1,150 properties are set to go under the hammer on the October 27 weekend, marking Melbourne's first super Saturday since April and the biggest since December 2010.
Melbourne auction listings have been down this year as many owners turned to private sales due to a flat property market.
But the recent rise in clearance rates could signal a turning point, Robert Larocca of the Real Estate Institute of Victoria says. A clearance rate of 66% was recorded on the weekend, compared with 51% for the same weekend last year. 
"There is a strong correlation between clearance rates and confidence levels," he told the audience at the weekend Melbourne Home Buyer and Property Investor Show.
"These two factors are linked so when we see confidence drop so to do clearance rates," he said. "Clearance rates are a forward indicator of what's happening to sale prices – with the clearance rate providing an indication of what's likely to occur a few months later to prices.
"Right now we've seen a start in the rise to clearance rates, and that suggests, if history is any guide, that prices ought grow towards the end of this year and next year.
"That depends very much on the direction of the economy and also what's happening around the word," he advised.
"It's a sign of emerging confidence given the vendors held back in the earlier part of this year ... but we will soon see whether the gradual improvement in clearance rates are repeated and solid," Larocca said.
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Larocca said there had been little capital growth in the Melbourne market this year.
"The fact that prices haven't gone down this year is good news," he said.
 
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The low sales volumes in Melbourne is apparent in REIV data that shows until the grand final weekend, there had been 18,433 auctions this year, with 11,132 or 60.4% selling under auction conditions.
This compares with the 22,247 auctions held up until the same time last year, when the clearance rate of 60.6% and 13,476 sold.
In 2010, when effective demand was much stronger, there had been 23,820 auctions and a clearance rate of 76.8%.
The volume of sales by auction is down 17% on this time last year and 39% on this time in 2010.
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 October's opening weekend recorded 540 houses and units go under the hammer in Melbourne, according to the Real Estate Institute of Victoria, with a 60%-plus success rate.
Super Saturdays are the hyperbole for when there are more than 1,000 auctions scheduled for Melbourne and more than 700 in Sydney.
The last super Saturday auction weekend in both Sydney and Melbourne was on the weekend before Easter in March this year.
In the March super Saturday, Melbourne’s estate agents secured a 61% auction success rate, while Sydney’s result was 53.8% clearance rate.
According to Australian Property Monitors, the tally for Sydney's October 27 weekend is about 400.


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Stand by for spring’s first super Saturday as Melbourne Cup field emerges

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Since the peak of the market six years ago, Irish residential property has lost two-thirds of its average value.
But the latest data offered a glimmer of hope as Dublin house prices enjoyed their first quarterly increase in six years.
The estate agency DNG says there are signs of price stabilisation, as average price are now less than 1% lower than they were at start of year.
Dublin house prices rose by an average of 3.1% in the past three months.
“Whilst it still remains too early to call the absolute bottom of the market for all property types in all areas of Dublin, the latest results add further weight to the argument that the market in 2012 has proved flat in terms of price movement at the very worst and in some cases prices have moved away from their low point, at least for the time being,” <a target="_blank" href="https://www.independent.ie/business/personal-finance/property-mortgages/dublin-house-prices-record-first-quarterly-increase-in-six-years-report-3243433">DNG boss Keith Lowe </a>was reported as saying.
The news coincides with a new register of every house and apartment sale price over the past two years. The International Monetary Fund had demanded the new register be put in place to make the market more transparent.
Prepared by the Property Services Regulatory Authority, it's been hailed as a key step in instilling confidence in the property market, according to Charlie Weston, the personal finance editor at the Irish Independent.
The website <a target="_blank" href="https://www.propertypriceregister.ie">www.propertypriceregister.ie</a> has prices for some 50,000-plus properties, which total €11.9 billion, according to the register.
The register details the decline and apparent stabilisation in the market over the last three years.
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The number of transactions declined sharply from nearly 21,000 in 2010 to less than 18,000 a year later.
Just over 14,000 deals have been done to September 21 this year.
The value of the transactions has dropped dramatically over the same period.
In 2010, €5.2 billion changed hands, but up to a fortnight ago, this year's sales were worth only €2.8 billion.
Housing economist Ronan Lyons said the website meant buyers and sellers would now have confidence about pricing.
"If you are buying you will no longer fear that you are paying twice what next door sold for a few months ago," he said.
Up to now the data produced by the <a target="_blank" href="https://searchtopics.independent.ie/topic/Central_Statistics_Office_(Ireland)">Central Statistics Office</a> and other indices, such as those produced by Daft.ie and MyHome.ie, did not keep the market truly informed.
 
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Irish house prices rise for first quarter in six years, as IMF gets residential property price transparency

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<img src="/images/stories/2012/09/kooyongkoot2.jpg">
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg">
The low-key off-market 2012 Easter $12 million-plus sale on Kooyongkoot Road, Hawthorn has been settled. It was an remarkably private sale, so only Marshall White agent Marcus Chiminello knew anything about the details. It was sold by Craig Parsell, who was Hong Kong based when he bought it in 2002 for $3.45 million. Parsell is a veteran executive partner in the technology services company Accenture.
Known as Koot, its situated in the heart of the Scotch Hill precinct. It's got a tennis court and pool on its 2,788-square-metre holding.
Title Tattle has gleaned the $12,588,000 buyer was company director Juhne Liu. Add $692,000 in Victorian stamp duty to get the actual outlay. Juhne Liu, who was born in China in 1973, directs Australia Yijiahe Investment Pty Ltd which was registered with the ASIC in March last year. Liu's existing home is within the Mirvac development at Mulgrave.
Title Tattle isn't aware  of any other private sale this year in Melbourne, with two other sales just under $12 million in Toorak and South Yarra.
The road's name stems from the Aboriginal word kooyongkoot, meaning the haunt of the wild fowl.
There's an imminent fresh St Georges Road, Toorak, listing set to hit the market, but unless it's priced right Koot might just well remain the year's highest priced sale.
For property punters who like to guess sale prices Property Observer has set up a mini-competition among readers within the auspices of the PropertyTycoon website. Football tipping season may be over, but readers can take part in <a href="https://propertyobserver.us2.list-manage1.com/track/click?u=24bd0766a834290948593f5aa&amp;id=78b1a98c11&amp;e=fbc19bce07">Property Observer’s auction tipping contest</a> and stand a chance of winning $1,000.
  
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Koot's $12.5 million sale still holds mantle of Melbourne's top 2012 mansion sale

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Midwaters, a 1,232-square-metres residential development site on Main Beach on the Gold Coast, has been sold.
The $5 million-plus sale through Mark Witheriff and Lachlan Harris of CBRE was a year after <a target="_blank" href="https://www.propertyobserver.com.au/developments/raptis-boutique-gold-coast-site-in-receivership-listing/2011100451804">its listing through other agents</a>. It was to be the site of a $48 million tower by veteran development group Raptis.
<img src="/images/stories/2012/09/raptis.jpg">
The property attracted interest from Chinese developers, with three buyers short-listed from the offers received. The buyers' identity has not been disclosed but is understood to be a south-east Queensland developer.
“We understand that the purchaser plans to proceed with the existing development application on the site,” Harris says.
The Midwaters site has development approvals in place for a 17-level apartment building configured for 16 apartments.
Raptis Group secured development approval for the site in 2008, and the approval is in place until 2014.
The property was placed on the market on behalf of funds manager Wellington Capital, which purchased all the shares in Octaviar Investment Management Limited, which was a lender to the Raptis Group.
The Midwaters site backs on to an arm of the Nerang River.
It currently has an ageing three-storey walk-up, known as Midwaters, that has lain dormant for years.
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Raptis Gold Coast development site sells 

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Vision, planning, strategy, calculated risk, conservative debt levels, integration and execution sum up Paul Little’s approach to running a business. The man who built Toll Holdings into a global logistics giant, with revenue of $8.7 billion, is using the same principles to create his property developing business.
Little Property group has about 1800 apartments under development, with a market price of more than $1 billion. Little strongly believes successful businesses create a point of difference, so he is focusing on building apartments on the fringes of Melbourne’s central business district: St Kilda, Port Melbourne, South Yarra and Brunswick.
Little chooses the inner city because he believes younger generations, particularly well-paid professionals, prefer a different lifestyle to their parents. “I see access to public transport becoming more important and owning and driving a car less important,” he says.
“The Aussie dream of a backyard is far less important to younger people today than when I was growing up. So my developments offer community facilities, such as theatres, pools, gymnasiums and barbecue areas.
“I’m driven to create an iconic development rather than just a box with a number of apartments in it. So that requires courage, and an ability to be innovative and creative with design.”
He says his business model revolves around finding and developing the site, selling the units themselves and managing apartments on behalf of investors who let them. His property group is akin to a one-stop shop.
“It’s the integrated solution,” he says. “And we’re finding that no one else is specialising in the apartment area in an integrated way.”
He says his company, established in 2005, uses its own equity to start a project. “We go to the banks when we have pre-sold about 65 per cent of the available apartments,” he says. “At 65 per cent, the banks are keener to assist with funding. It’s a point of difference to other developers looking for mezzanine finance and using all sorts of high-risk instruments.”
Little says property developers fail when they pay too much for a site, borrow too much, or can’t secure the necessary permits for their plans. Or they lack the skills. “Everyone thinks they’re a property developer these days,” he says. “But it’s totally specialised.”
Little – who retired as Toll Holdings’ managing director in December 2011 after 26 years at the helm – is a consummate dealmaker. He was mostly responsible for arranging the company management buyout in 1986 and listing Toll on the ASX in 1993. At Toll, Little did about 100 acquisitions, expanding the company’s transport logistics network to 55 countries. Today, the global company generates $8.7 billion in revenue and employs 45,000 staff involved in road fleets, warehousing, shipping, air freight, ports and rail.
 
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Acquisitions
A good acquisition must add value to existing operations, whether it’s an additional service or improving economies of scale. Little says suitors should question whether an acquisition will make it “bigger, better, smarter and more efficient” before doing the deal.
“An acquisition has to increase activity that lowers operating costs, or it needs to enhance customer service levels,” Little says. “An acquisition has to do one of those two, or in some cases it needs to do both.
“One of the last things I did at Toll, with newly-appointed managing director Brian Kruger, was try to acquire a good freight-forwarding business in Philadelphia. We spent a lot of time on this potential acquisition, but in the end it was too expensive so we walked away.
“It’s hard to do, but you must have that discipline, or you’ll end up paying too much. And that’s something you determine before you go into the transaction.”
Provided it ticks all the boxes, Little says a major benefit of merger and acquisition activity is faster growth than the organic option. An acquisition can bring plant, equipment and staff, so “you can hit the ground running”.
“But acquisitions aren’t all plain sailing,” he says. “The cheaper companies, in terms of what you have to pay for them, are cheaper for a reason. That is poor equipment, poor people, poor marketing strategy and execution – all resulting in poor P&amp;L (profit and loss).”
Integration generates efficiencies by removing waste and impediments. “I think integration is the way of the future,” he says. “It enables clients to see the whole process – electronically. Removing the middle man, or middle men, is what we aspire to do – both when I was running the logistics business, and now in the property area.”
Gearing
Little says managing risk makes a successful business. “I will always be risk-averse,” he says. “But where I believe I can use my experience, knowledge and the people around me, I’m prepared to take on calculated risk.”
It’s at this point in the interview thatLittle talks about Fortescue Metals Group and its debt of more than $9 billion that had recently forced the company into a trading halt and a debt restructure as a result of plunging iron ore prices.
It’s not that long ago that highly-geared companies across the world went out of business or merged in response to the credit crunch and ensuing global financial crisis.
According to analyst Michael Heffernan, of stockbroking firm Lonsec, Fortescue Metals’ net debt-to-equity ratio was 156% at June 30, 2012. Simply, Heffernan, says: “That would be a red flag to any investor.” In contrast, Heffernan says BHP Billiton’s net debt-to-equity ratio was 35.8% in mid-2012.
Little politely says a debt/equity ratio such as Fortescue’s may not have been tolerated in too many other companies.
“In a bull market, Fortescue’s debt/equity ratio may have been more manageable,” he says. “But the iron ore price fell from $US180 a tonne to $US90 a tonne – that’s the problem. It’s much harder to manage debt when your income levels can halve relatively quickly.
“In any business you run, whether it be the corner milk bar or a publicly-listed company, you must have conservative debt levels. The businesses I see get into trouble usually have high debt levels. I’ve always felt that you can ramp up short-term debt if the prospects of repaying it quickly are good.
“Long-term debt is a bit scary.
“Too much debt kills companies. That’s why the gearing ratio is terribly important in public companies. I’ve been accused of having a ‘lazy balance sheet’, but today you would swap it for almost anything.”
 
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Global
Little encourages businesses to think global. Take advantage of the internet to grow in and beyond Australia. “The use of technology is vital for global growth,” he says. “The speed, accuracy and amount of information will assist in managing businesses more effectively, efficiently and open new global markets.
“I keep talking about global markets because we live in a global marketplace. Business leaders must be aware of the opportunities and threats from countries outside Australia. We can’t just look at Australia as a separate marketplace anymore.”
Little sees Asia, due to its population and proximity to Australia, as an opportunity. “Clearly, you can’t offer a global service if you’re not in Asia,” he says, but, as always, expansion needs a plan due to cultural differences in the way business is done. “In Asia, you need to be patient and selective about how and where you grow.”
It’s an important point, given Toll’s troubled Footwork Express business in Japan. As Little is no longer on the Toll board, he declined to comment about the Footwork Express performance that resulted in a $168 million writedown and contributed to a 76% fall in net profit after tax to $70.9 million (after non-recurring items) for the 2011/2012 financial year.
Leadership and strategy
“It’s fair to say, if there’s one thing that separates chief executives from the rest is their ability to have a vision and the courage to pursue it,” Little says. “The vision isn’t for a month or the next reporting period – it’s for five years from now. Consider where you want a business to go and what it will look like in future? How can your service offering be different to you competitors?
“Good leaders surround themselves with the best possible people. I know that sounds obvious, but it’s terribly important. Senior employees working closely with the chief executive are generally ambitious, but also team players.
“At Toll, I encouraged senior people to take on responsibility, accountability and the destiny of their part of the business. I didn’t want to interfere.
“The corporate office would set parameters, be they treasury, budgetary or legal, and the rest was up to the individual. Employees should be adequately rewarded for taking on a slice of the business, managing the risk and growing profits. It’s difficult to get the best people and to incentivise them without paying them adequately.”
A good leader is confident and persuasive about strategy. “At Toll, the audience I had to be persuasive to was essentially shareholders,” he says. “There has to be a level of believability about your strategy. You need to exude confidence about executing it, because a strategy is long term and shareholders are impatient.
“It’s a balancing act that public companies often struggle with today. And articulating a strategy is terribly important because an inability to do so can bring additional pressures that wouldn’t otherwise emerge.”
Patrick acquisition
Even the best-laid plans can go astray. The bitter battle with the competition regulator for stevedoring company Patrick in 2005-06 took a toll on Little. “The deal became all-consuming,” Little recalls. “We had a war office inside Toll, and for about a year, I was good as cut off from the outside world. I lost a year.”
Little says Toll was keen to acquire Patrick’s port activities to complement its land-based services. “For us to achieve our ambition of being a global logistics operator, you couldn’t do it effectively, at that point, without some sort of stevedoring capability,” he says.
But Little says Toll’s original acquisition plans for Patrick eventually met stringent opposition from Graeme Samuel, Australian Competition &amp; Consumer Commission chairman between 2003 and 2011. “The regulator thought differently and stopped our original proposal from happening,” Little says.
To meet conditions of the deal, Toll restructured, spinning out Pacific National (rail) and Patrick’s port divisions that would become listed company, Asciano. “We went ahead on that basis, but some of the cream was lost on the cake,” he says. “There’s no doubt about it.
“The mistake we made was misreading what the regulator was going to allow us to do. Prior to the final decision, we thought the regulator was accepting of our strategy that we were trying to articulate and put in place.”
To this day, Little says he and Samuel disagree about the outcome. “I still bump into Graeme and we have an OK relationship,” he says. “The disagreement wasn’t personal then and it isn’t now.”
 
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Little by Little
Q: What is your favourite source of leadership inspiration and ideas? A: Mostly biographies and autobiographies of inspirational and successful people.
Q: What is the one thing a leader should never do or say? A: A leader should never be untruthful or inconsistent.
Q: What two elements are critical to achieving change? A: clear direction and ownership of the process.
Q: What was the worst moment of your career, and what did you learn? A: A phone call while at Toll from the competition regulator advising his change of direction relating to the Patrick acquisition approval.
Q: What important qualities do you look for in your direct reports? A: Loyalty, accountability, experience, drive and competitiveness.
Q: What makes a workforce productive or more productive? A: Job security, job satisfaction, clear individual and group targets and feedback on performance.
This article originally appeared on <a href="https://www.leadingcompany.com.au/" target="_blank">LeadingCompany.</a>
Crane photograph by Ian Sanderson, courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>
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Paul Little turns property developer and focuses on inner-city units

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Just six Victorian municipalities recorded decreases in land values since the 2010 revaluation.
They were topped by Indigo in north-eastern Victoria and the Southern Grampians.
The falls ranged between 0.1% and 1.8%.
The data gives the total capital improved value of all privately owned properties within the 79 municipalities. 
    
Municipality     2012 Total CIV       2010-2012 % change
Ararat                $2.14b                                            -0.1
Corangamite     $5.01b                                            -0.7 
Glenelg             $4.91b                                             -0.5
Indigo               $2.63b                                             -1.8
Pyrenees          $1.53b                                             -0.5
Southern
<span style="font-family: &quot;Calibri&quot;,&quot;sans-serif&quot;; font-size: 11pt; mso-fareast-font-family: Calibri; mso-ansi-language: EN-AU; mso-ascii-theme-font: minor-latin; mso-fareast-theme-font: minor-latin; mso-hansi-theme-font: minor-latin; mso-bidi-font-family: 'Times New Roman'; mso-bidi-theme-font: minor-bidi; mso-fareast-language: EN-US; mso-bidi-language: AR-SA;">Grampians           $3.98                                        -1.8     
Source: Valuer-General Victoria
</body></html>

Six Victorian municipalities record decreases in value over past two years: Valuer-General Victoria

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

<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/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Jonathan Chancellor

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