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ASIC and the ATO have advised they will have an increased focus on property one-stop-shops.
This will include sharing data and intelligence, and ASIC taking enforcement action where it sees unscrupulous behaviour.
More than 590,000 SMSFs hold assets worth nearly $697 billion, which is 30% of funds held in superannuation.
Gaining control over their investments is a key motivation for consumers to set up an SMSF with recent years seeing a growing interest in using SMSFs as a vehicle for investing in property.
The extra eye over one stop property shops was announced when ASIC revealed around 90% of financial advice on setting up a self-managed super fund (SMSF) did not comply with relevant laws.
ASIC today released Report 575 SMSFs: Improving the quality of advice and member experiences and Report 576 Member experiences with self-managed superannuation funds.
ASIC reviewed 250 client files randomly selected based on Australian Taxation Office (ATO) data and assessed compliance with the Corporations Act’s ‘best interests’ duty and related obligations.
ASIC Deputy Chair Peter Kell said the standard of advice on SMSFs must improve.
"A healthy and robust SMSF sector is an important part of our super system.
"However, it is clear lots of people are setting up self-managed super funds without knowing whether this is the best option.
"The financial advice sector has significant work to do to lift their performance on this issue."
The interviews also identified a growing use of 'one-stop-shops' where the adviser has a relationship with a developer or a real estate agent whose products the person is encouraged to invest in.
"This put people at increased risk of getting poor advice that did not take account of their personal circumstances or is not given in their best interests," ASIC found.
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ASIC and ATO to have increased focus on property one-stop-shops offering crook SMSF advice

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Queensland is the hotspot for the low commission estate agency Purplebricks, according to internal documents.
Some 40 percent of early June's listings came from Queensland.
It represented 71 fresh listings.
There were 42 new listings in NSW and 36 in Victoria.
WA had 16 and SA had 11, giving a national tally of 176 fresh listings.
The tally covered the period from June 1 -18 this year.
The tally represented just 27 percent of the target listings.
Internal reports obtained by The Australian Financial Review also showed sales numbers totalled 125 out of a target of 423.
The newspaper noted more than half way through June, 23 out of 85 agents had yet to secure a single listing, while 15 agents had secured just one listing and 17 agents two listings.
The numbers indicate how tough it was for many agents to earn a living and why many are quitting the disruptor, according to the newspaper in its fifth hatchet job article on the low cost agency so far this month.
The newspaper initially lauded the disruptor in its initial post-launch coverage.
<div>
Purplebricks Australia CEO Ryan Dinsdale sent an email to all staff last week telling them they should "not to be distracted by criticism from those that seek to undermine us".
</div>
<div>"Instead, have courage and take pride in the fact that we are doing something special and building great businesses together," Mr Dinsdale said.</div>
<div> </div>
<div>It has also faced a <a href="/news/purplebricks-arent-offering-proper-agents-hayden-groves">sustained critical campaign</a> for real estate institute leaders who have claimed they didn't offer "proper estate agents" and <a href="/news/no-motivation-for-best-result-as-reinsw-slams-upfront-fee-disruptive-agencies">didn't seek top price results</a>.</div>
<div> </div>
<div>
<a href="/news/low-commission-model-under-scrutiny-as-purplebricks-defectors-leak-internal-sales-documents">The Purplebricks low commission model</a> is premised on Australian agents being expected to list 10 properties a month by converting 40 per cent of appraisals.</div>
<div> </div>
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Queensland ranks as Purplebricks listing heartland

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Former MasterChef contestant Dani Venn and her husband Chris Burgess had fears some $250,000 from the proceeds of their home sale had been lost, through their conveyancing which was utilising PEXA, Australia's new online property transfer system. 
Property Exchange Australia (PEXA) has come out and advised the PEXA system wasn't hacked. 
However the company, whose platform allows financial settlements to be completed electronically, has announced however that they have "begun work developing additional alerts and processes to further enhance security in the system."
The money was stolen from their conveyancer's PEXA account with a cyber criminal setting up a false user.
The conveyancer was transferring the funds to their bank account to complete the settlement for the new property, however the money was taken by a hacker who hacked into the conveyancer’s email account, pressing the ‘forgot password’ button, intercepting the email to create a new password, logging in and unbeknown to the conveyancer created a new user.
The hacker changed the bank details to their bank account. 
PEXA initially claimed that they were not liable for a hacker compromising the workspace of a user’s account and that they have a two-step verification process.
The Venn's had just sold their Melbourne home, with a move to the Mornington Peninsula on the horizon.
Venn said it was always their dream to live near the sea.
They moved out of their old house on June 22 and a day later Venn posted to Facebook to say they had 12 days to come up with around $120,000 or lose $80,000 house deposit for their new home and more.
"We are living every family's worst nightmare", Venn told Fairfax Media which featured her plight on the front page of The Age.
Dani and the kids moved in with her mother, while Chris slept in a caravan. 
"We were told that our money had been stolen and redirected to a CBA account, the CBA were informed by PEXA and froze that money.
"We were told that the ‘funds had been frozen’ but the CBA would not put in writing that this was the case.
"We were made to believe our money was recoverable. It was not until the CBA made our conveyancer sign an indemnity form, wiping their hands of all responsibility, that they told us a few minutes before our new property was due to be settled on Wednesday that approx $107,000 was missing and was unrecoverable.
"We’ve never experienced anything like this feeling, total utter heartbreak and disgust in the system we have trusted in all our lives and a government that is supposed to protect us from ever being in a situation like this."
Venn started a GoFundMe page in an ambitious attempt to recoup $120,000 before they defaulted on their new purchase.
Titled Hacked out of home, the page raised over $15,000 in one day of posting.
Donations have slowed and the page has seen $16,981 given by 72 people.
<a href="https://www.2gb.com/masterchef-stars-dream-a-complete-nightmare-as-hackers-steal-thousands/" target="_blank">Tonight speaking with 2GB's Ross Greenwood</a>, Dani said PEXA had last Friday attempted to “blackmail” her and her husband into accepting a loan on condition that she didn’t criticise them after she indicated she'd be taking the story public to the media.
Since Dani’s story also aired on A Current Affair, PEXA has agreed to pay the full amount that was stolen.
"This is the only sensible decision that PEXA could have made and it beggars belief that it took pressure from ACA to achieve it," ACA host Tracey Grimshaw said.
Venn told Greenwood it was a terrifying experience, adding that over the past week funds had been progressively recovered amounts including $59,000 this afternoon so that not as much was missing.
“You can’t ever describe it.
“It’s just this sick pit in your stomach, you feel angry and frustrated, disappointed in the system you’ve only put faith in your whole life.
“Most people have worked so hard to get a house deposit in the first place and you just feel your whole life savings ripped from underneath you through no fault of your own.
“What was worrying was that there was no alert to notify our conveyancer there was a new user on his system.”
Richard Smith, founder of specialist insurtech Edmund Cyber Insurance, said real estate agents underestimate the threat of cyber crime.
“The threat to real estate agents is the same as it is for larger businesses, but unfortunately, many of them under-estimate it”, Smith said.
“The concern is that criminals are now directly targeting real estate agents and there are a number of reasons why, including the perception that they are easier to attack, because their security policies are not robust or sophisticated.”
The big four banks, state governments and Macquarie Group are all shareholders in PEXA.
There had been plans for a $1.1 billion sharemarket listing but The Australian DataRoom column has suggested the prospect of listing has faded. 
PEXA, who have been approached for comment, had previously said the hacking incident won't affect any mooted plans.
 
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Masterchef's Dani Venn pries funds back after accusing PEXA of blackmail after conveyancing scam

<html><body><div class="cq-article-content-paras section">
Former MasterChef contestant Dani Venn and her husband Chris Burgess had fears some $250,000 from the proceeds of their home sale had been lost, through their conveyancing which was utilising PEXA, Australia's new online property transfer system. 

Property Exchange Australia (PEXA) has come out and advised the PEXA system wasn't hacked. 

However the company, whose platform allows financial settlements to be completed electronically, has announced however that they have "begun work developing additional alerts and processes to further enhance security in the system."

The money was stolen from their conveyancer's PEXA account with a cyber criminal setting up a false user.

The conveyancer was transferring the funds to their bank account to complete the settlement for the new property, however the money was taken by a hacker who hacked into the conveyancer’s email account, pressing the ‘forgot password’ button, intercepting the email to create a new password, logging in and unbeknown to the conveyancer created a new user.

The hacker changed the bank details to their bank account. 

[smartcode_project:default project_id=5559]

PEXA initially claimed that they were not liable for a hacker compromising the workspace of a user’s account and that they have a two-step verification process.

The Venn's had just sold their Melbourne home, with a move to the Mornington Peninsula on the horizon.

Venn said it was always their dream to live near the sea.

They moved out of their old house on June 22 and a day later Venn posted to Facebook to say they had 12 days to come up with around $120,000 or lose $80,000 house deposit for their new home and more.

"We are living every family's worst nightmare", Venn told Fairfax Media which featured her plight on the front page of The Age.

Dani and the kids moved in with her mother, while Chris slept in a caravan. 

"We were told that our money had been stolen and redirected to a CBA account, the CBA were informed by PEXA and froze that money.

"We were told that the ‘funds had been frozen’ but the CBA would not put in writing that this was the case.

"We were made to believe our money was recoverable. It was not until the CBA made our conveyancer sign an indemnity form, wiping their hands of all responsibility, that they told us a few minutes before our new property was due to be settled on Wednesday that approx $107,000 was missing and was unrecoverable.

"We’ve never experienced anything like this feeling, total utter heartbreak and disgust in the system we have trusted in all our lives and a government that is supposed to protect us from ever being in a situation like this."

Venn started a GoFundMe page in an ambitious attempt to recoup $120,000 before they defaulted on their new purchase.

Titled Hacked out of home, the page raised over $15,000 in one day of posting.

Donations have slowed and the page has seen $16,981 given by 72 people.

<a href="https://www.2gb.com/masterchef-stars-dream-a-complete-nightmare-as-hackers-steal-thousands/" target="_blank">Tonight speaking with 2GB's Ross Greenwood</a>, Dani said PEXA had last Friday attempted to “blackmail” her and her husband into accepting a loan after she indicated she'd be taking the story to further media.

Since Dani’s story aired on A Current Affair, PEXA has agreed to pay her and her family the full amount that was stolen.

She told Greenwood it was a terrifying experience, adding that over the past week funds has been progressively recovered amounts including $59,000 this afternoon so that not as much was missing.

“You can’t ever describe it.

“It’s just this sick pit in your stomach, you feel angry and frustrated, disappointed in the system you’ve only put faith in your whole life.

“Most people have worked so hard to get a house deposit in the first place and you just feel your whole life savings ripped from underneath you through no fault of your own.

“What was worrying was that there was no alert to notify our conveyancer there was a new user on his system.”

Richard Smith, founder of specialist insurtech Edmund Cyber Insurance, said real estate agents underestimate the threat of cyber crime.

“The threat to real estate agents is the same as it is for larger businesses, but unfortunately, many of them under-estimate it”, Smith said.

“The concern is that criminals are now directly targeting real estate agents and there are a number of reasons why, including the perception that they are easier to attack, because their security policies are not robust or sophisticated.”

The big four banks, state governments and Macquarie Group are all shareholders in PEXA.

There had been plans for a $1.1 billion sharemarket listing but The Australian Data Room column has suggested the prospect of listing has faded. 

PEXA have said the hacking incident won't affect any mooted plans.

 

 

 

 

<h2> </h2>
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Masterchef's Dani Venn gets funds back after accusing PEXA of blackmail after conveyancing scam

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Botanica Whitsundays which has a licence to host 160 weddings annually with up to 100 guests, has been listed for sale
<a href="https://www.realestate.com.au/property-house-qld-woodwark-128659270" target="_blank">Botanica Whitsundays</a> is the private residence that has been a luxury wedding venue near Airlie Beach for the past decade.
Vendors Ralph and Janet Hogan turned their seaside villa at Woodwark into a wedding venue where the Balinese themed weddings start at $11,000 and can cost anywhere up to $45,000.
Fronted by 160 metres of Coral Sea frontage, the estate features a three bedroom main residence plus two bedroom guest pavilion.
A saltwater swimming pool overlooks the ocean on the 2.2 hectare parcel which features a number of outdoor living areas, manicured gardens, ponds, lush rainforest and wrap around veranda with rows of Balinese fluted timber columns.
Queensland Sotheby's agent Carol Carter has an August 6 auction.
This article was first published in The Weekend Australian.
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Botanica Whitsundays wedding venue listed for sale

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<div>
Veteran eastern suburbs real estate agent John McGrath has paid tribute following the passing of Di Jones who died in hospital on the weekend.
<div>Real estate rival John McGrath told the Daily Telegraph while the pair were rivals, she was a trailblazer for the industry.</div>
“I had to compete head to head with Di Jones when I entered the industry,” he said.
“She was an incredible agent. Brilliant skills and as competitive as anyone I’ve ever seen in 35 years of real estate. And she was a trailblazer for boutique real estate companies.
“There’s no doubt in my mind she has a place in the top 10 agents in the history of Australian real estate.”
<div>
<div>The founder of Di Jones Real Estate — a brand credited with changing the face of real estate in Sydney — had suffered ill health for years and was being treated for chronic obstructive pulmonary disease at RPA.</div>
</div>
</div>
The Jones family matriach had remained a brand ambassador at the agency which was sold in 2016.
Although she wasn't selling houses herself, she remained devoted to the craft to her final days, daughter Kim told the Daily Telegraph.
“Even in the last days when she was under sedation and in her short breath she was telling me to pick my phone up when it was beeping while I was beside her hospital bed, as it could be a listing. And I was saying, ‘No mum, I’m here holding your hand not working’.”
Kim Jones, is now a partner in Snowden Jones in Woollahra alongside Louise Snowden and Rick Daniel.
Di Jones started her career at Raine and Horne in Glebe, gleaning insights from her auctioneer husband Bill (pictured below).
<div>
<div> </div>
<img src="https://cdn.newsapi.com.au/image/v1/e7e99fb7639e5e25ac4e3461bd726f69?width=650">
</div>
<div> </div>
<div>After moving to Richardson and Wrench, she opened her own agency in 1992.</div>
<div> </div>
<div>“Di Jones was an amazing woman, a pioneer and an inspiration to many. She developed a brand and level of service that changed the industry. We are proud to continue to honour her legacy today and in the future,” current Di Jones Real Estate owner and CEO Rob Ward said.</div>
<div> </div>
<div>She lived for many years in Woollahra.</div>
<div>
"I love it because it is, in my opinion, the best little village in Sydney.
"I love to be able to walk to everything - Queen Street and Oxford Street - and having Centennial Park to walk around every morning is heaven," she said in a 2013 interview.
Their prior home was at Clovelly and prior to that an apartment at Clayfield in Brisbane bought in 1972 after the couple had moved from Sydney for Bill to manage a club in Clayfield.
She was working as the private secretary to the managing director of ACI (Australian Consolidated Industries).
Her enduring advice she gave was "always buy position and aspect over anything else." 
Through the years her clients included dual Archibald Prize winner Judy Cassab.
Many were repeat clients, sometimes selling the same house four times.
 
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Di Jones ranked in John McGrath's top 10 estate agents

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<div>
<div>
The Purplebricks low commission model - where Australian agents are expected to list 10 properties a month by converting 40 per cent of appraisals - has faced yet another hostile expose in The Australian Financial Review.
It was the fourth article in the past week by the paper which once lauded the Purplebricks model, which has the slogan, Full service. No commission. One fair fee: The most convenient and transparent way to sell a house.
<div>
Purplebricks has certainly faced a exodus of its agents for various reasons.
Its most high profile agency listing came last December with the Vaucluse offering by socialite Lizzie Buttrose through estate agent Dean Emerson who also had the House Rules listing in Rosebery.
Emerson, now at Coastline Realty, was a Puplebricks territory owner between January 2017 and April this year. His new agency profile says his net turnover in the last 18 months saw over 40 properties sold for in excess of $60 million.
The newspaper concluded it was getting harder for most Purplebricks' suburban agents to convince vendors to sign up, despite the commission savings.
</div>
Internal sales documents obtained by The Australian Financial Review covering the first two weeks of June highlighted underperformance by its NSW agents.
The documents indicated that 27 NSW Purplebricks agents secured a combined 26 listings.
Their NSW agents were converting around 20 per cent of the 123 home appraisals they conducted over the fortnight.
The conversion rate was down from 28 per cent of appraisals converted during February, March and April.
Its top agent over the fortnight had converted four out 10 leads.
Among the 27 NSW agents, nine were struggling to secure a listing in early June.
Some six agents secured two or more listings.
Agents who earn $1000 per instruction – with the remaining near $5000 of the upfront fee going to Purplebricks – require a high volume of listings to make a living.
The paper reported the Purplebricks agents with a backlog of unsold listings were having their capacity to list more "turned off" by head office, preventing them from earning income.
</div>
<div>
The company provides some financial assistance in these instances, but at the discretion of Purplebricks.
</div>
<div>Today Purplebricks defended the model and its culture amid claims of "toxic work environment" after current and former agents told the AFR they had been "bullied, threatened and undermined."<a href="https://www.afr.com/real-estate/residential/26-listings-for-27-agents-purplebricks-agents-struggle-to-win-new-listings-20180621-h11nzt"> </a>
<div>
"Purplebricks rejects the serious allegation of a bullying culture," a Purplebricks spokesperson said after former Purplebricks Newcastle agent Steven Bashford claimed anyone who achieved success "gets chopped back".
</div>
<div>
"It's appalling how they treat agents. Their behaviour is bullying," he said.
</div>
<div>Bashford claimed Purplebricks' head office would call his vendors to "draw out any complaints" against him. Purplebricks can claw back money from agents if a customer complained.</div>
<div>
Former northern Sydney agent Richard Mirosevich, who sold 41 properties in seven months after a 100 per cent conversion rate of appraisals to listings, has claimed he was fired.
"I was getting great results then they sacked me without notice because I was getting too big.
"They took over my area and replaced me with three to four other people," he said.
</div>
<div>
Purplebricks' spokesman rejected these allegations.
"We work in partnership with our agents and are committed to investing resources to support them in changing market conditions."
Last week, the Financial Review revealed 27 agents had left the company since March with overall numbers falling to 88 from the 105 reported late last year.
</div>
</div>
<div>
Purplebricks Australia CEO Ryan Dinsdale sent an email to all staff last week telling them they should "not to be distracted by criticism from those that seek to undermine us".
</div>
<div>"Instead, have courage and take pride in the fact that we are doing something special and building great businesses together," Mr Dinsdale said.</div>
<div> </div>
<div>It has also faced a sustained critical campaign for real estate institute leaders who have claimed they didn't offer "proper estate agents" and didn't seek top price results.</div>
<div> </div>
<div>PRDnationwide released research claiming customers got a better result when they pay the full real estate commission rates.</div>
<div> </div>
<div>There was negative press when Purplebricks was fined $20,000 fine by the Queensland Office of Fair Trading over misleading customers about how it charges its fixed fees in agreements with clients.</div>
The newspaper claimed "broke" real estate agents were quitting the British based disrupter "in droves" as the fixed-fee agency's low-margin, high-turnover business struggles to achieve enough sales amid a slowing Australian housing market.
The Purplebricks territory owners (franchisees) and agents said the envisaged $100,000 to $180,000-a-year salaries had failed to materialise.
Internal sales figures show that 15 agents undertook a combined 768 home appraisals between February and April, securing 189 listings between them
</div>
<div>
While two of these agents have 72 instructions between them, the remaining agents have won between zero and 18 new listings each over the three-month period.
"The concept is brilliant, but the business model is wrong for Australia," said former Purplebricks Newcastle agent Steve Bashford, who quit in May.
"There is a big difference between what they promised us and what we achieved."
Other current agents and franchisees, who asked not to be named, made similar observations.
</div>
<div>
"There's no money in it. The business model is flawed," said a current franchisee.
"I've sold 50 properties in 18 months and I'm broke," another nameless agent who recently quit told the AFR.
</div>
<div>Apart from the $1000 instruction fee, agents can earn additional fees if a customer arranges a Purplebricks home viewing or signs up for a mortgage with one of its partners.</div>
<div> </div>
<div>The Purplebricks are the only agents facing income challenges.</div>
<div> </div>
<div>The REI says the bottom 50 percent of agents nationally sell less than two properties to earn less than $30,000 annually.</div>
<div> </div>
<div>It is a far more competitive industry with NSW sales volume down 16 percent last year with agent numbers up by 20 percent.</div>
<div> </div>
<div>
Since launching in September 2016, Purplebricks has secured more than 5200 listings and sold more than 3600 homes. On selling 3,500 properties its suggested it had saved home sellers over $38 million in traditional commission.
</div>
<div> </div>
<div>It currently has 1500 properties for sale. Purplebricks recently raised its fees - raising the price in Victoria, for example, to $5999 from $4500. </div>
<div>
Its UK headquarters reported a £5.1 million loss from its heavily marketed Australian business for the six months to the end of October 2017. 
</div>
<div>
Purplebricks Australia CEO Ryan Dinsdale recently told the Financial Review more than 80 per cent of agents were earning a "good income".
"It's a new model in Australia with a new way of doing things so it won't suit everyone," Mr Dinsdale said.
"We are really pleased with how the business in Australia is going."
He confirmed franchisees and agents sometimes had to contribute to the cost of customer refunds because there was a "shared responsibility to provide exceptional service".
He also confirmed that Purplebricks had in "rare circumstances" stopped providing new appraisals to territory owners if they had a lot of unsold properties.
In an analyst piece in 2016 UBS's Mark Fielding and Heidi Richardson estimated that a UK Purplebricks agent needed to sell 12 times as many properties as a typical sales agent to achieve salary levels claimed by Purplebricks.
It has a $20 million Avoid Commissery marketing budget in Australia which has included a partnership with the renovation show House Rules on Channel Seven.  
</div>
<div>
<div>
Equities analysts at Jefferies, Anthony Codling and Sam Cullen raised concerns that the model rewards listings over sales.
Being listed in the UK, the AFR reports have generated huge interest from the UK property press with a Purplebricks spokesperson indicating the Australian agency had hired 18 agents in the last two months.
“The net number of agents in the field in Australia is unchanged from March, despite some churn.
“We are winning market share in a declining housing market.
“Our growth allows us to continue to recruit while many traditional operators are making substantial redundancies.”
The spokesperson also said that the Australian Purplebricks business was set to at least meet full-year expectations.
“Market expectations are for year-on-year revenue growth in Australia of 250 percent," the spokesperson advised.
</div>
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Low commission model under scrutiny as Purplebricks defectors leak internal sales documents 

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The biggest dread among vendors going to auction is that their property will be passed in on auction day.
With auction clearance rates now in the 50 percent range, and even lower in some suburbs, this is a very real likelihood.
Selling at a fair market value - or better - is often dependent on the extent of buyer numbers and enthusiasm.
One bidder auctions have become far more prevalent, as vendors lose their grip on being able to secure above reserve outcomes at their auctions across Sydney every Saturday.
There's a special negotiating skill needed for the listing agent to immediately secure a sale in such onsite circumstances.
Ofcourse the agent can knock heads together during the auction, but that will take a bit of give and take from both vendor and buyer.
Vendors certainly need to anticipate this possibility.
But should vendors accept the price drop on offer from the only buyer at the auction or are they best holding off selling until later Saturday afternoon or sometime in the next week.
It all depends on the level of actual and perceived buyer interest, starting from the number of contracts that have been issued in the run up to the auction.
Agents need to follow all their potential buyers closely, and keep their vendors in the loop.
An emerging factor has been that bank finance approvals are slower and harder to get, and many buyers are finding just days before the auction that they need to lodge more information before safely securing finance.
They necessarily sit out the auction. 
This has come about as the financial regulators and the royal commission have frightened the banks so that they are dotting all the i's and crossing every t.
Coming together for post-auction negotiations is a skill that some agents need if their vendors aren't going to sell for far less than they wish.
The biggest myth about properties that sell after auction is that they go on to sell for a poor price.
That is not the case, veteran estate agent John McGrath recently noted given that fresh buyers are coming into the market every week.
The recent clearance rate downturn has likely undermined the benefits many see in a sale by auction which typically come with the potential for a premium sale price.
Unmotivated sellers rarely auction their properties.
Stuart Benson at Benson Auctions noted at a recent realestate.com.au auctioneers' round table that his clearance rate in north west Sydney was down by 15 percent, but after six weeks on the market the sales sat around 90 percent.
Following any post auction campaign that doesn't end in a sale, it is important vendors respond to the issues that possibly caused it.
Best relook at price, presentation and/or marketing), and there is no reason to think it property won’t sell.
This article was first published in the Daily Telegraph.
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One bidder auctions need special estate agent negotiating skills 

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Cider House, a country estate on the Mornington Peninsula, sold at recent auction for $2,180,000. 
There were five bidders for the <a href="https://www.realestate.com.au/sold/property-house-vic-tuerong-128359074" target="_blank">Tuerong listing</a> which was among the most viewed offerings on <a href="http://realestate.com.au/" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en-GB&amp;q=http://realestate.com.au&amp;source=gmail&amp;ust=1529534896827000&amp;usg=AFQjCNFkbT0S4nrDEPw1RRe8x1b0dr9dIw">realestate.com.au</a>. It was bought by an Armadale couple with a young child. McEwing Partners Mornington agents Dean Phillips and Amy Day sold the estate. 
Vendors Aaron and Carolyn Miglioranza bought the two hectare horse paddock in 2009.
It is now a fully irrigated 282 apple tree orchard with 14 varieties of apples planted in 2015.
When fully mature, the trees will crop anywhere between 120 kilograms to 200 kilograms annually which could possibly reap around $84,000 per annum for all of the apples, cider and eating. The property has 160,000 litre water tanks.
There's also a five year old, pavilion-style home from Harkaway Homes with wraparound verandah, extensive shedding and chook house. The 18 chooks are set to stay!
 
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Cider House, Tuerong sells for $2.18 million

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Autumn Park, the luxury Mittagong retreat, has sold following its transformation by Sydney northern beaches architect Mike Hale.
It had a price tag of $5 million, which if achieved, would be the highest price paid in the small Southern Highlands grazing district in seven years.
Hale's renovation and extension came in 2015 costing well over $800,000.
The re-imagined rustic brick barn with old wharf timbers is now a cutting edge home with a contemporary butterfly roofed pavilion extension.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/25/autumn2.jpg" alt="">
Upstairs in the barn structure are all four bedrooms.
Two sit at one end of the home, both with Juliet balconies overlooking the countryside, while the other two have their own private decks.
The master suite's deck features its own spa plunge pool.
In the modern front section of the home there's a games room with bar, a living room with feature wood fireplace and a media area with inbuilt projector and drop down screen.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/25/autumn3.jpg" alt="">
A tennis court, dressage arena and four paddocks sit in the 40 hectare grounds. 
Sarah Wotton and Geoff O'Reilly at Highlands Property Bowral had the listing for the vendors Peter and Gerda Williams who are now based in New Zealand.
Williams’ professional director duties expanded from the boardrooms of EBOS Group and CB Norwood last year to include NZX-listed pharmacy operator Green Cross Health.
This article was first published in the Weekend Australian.
 
 
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Autumn Park at Mittagong sells after $5 million hopes

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<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/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

Jonathan Chancellor

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