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Self-managed super funds (SMSFs) experienced the largest growth in the number of tax returns lodged over 2010-11 by entity type rising to 391,163, according to the latest release of ATO figures.

This was an increase of 4.8% from 373,195 SMSF tax returns lodged 2009-10.
The figures show that the highest allocation remains to shares (32%) and cash and term deposits (28.7%) with 3.5% invested in residential property, 11.4% in non-residential property, 4.2% invested in listed property trusts and 8.8% invested in unlisted property trusts.
In total 14.9 million tax returns were lodged, an increase of 2.1% from 2009-10.
Individual returns represented 84.7% of all tax returns lodged.
 
Self–managed super funds, 2010–11 and 2011–12 financial years
 
<table width="349" cellpadding="7" cellspacing="0" border="1" dir="ltr"><tbody>
<tr>
<td width="33%" valign="top" height="7">
Self–managed super funds
</td>
<td width="33%" valign="top" height="7">
2010–111
</td>
<td width="33%" valign="top" height="7">
2011–12
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Funds (no.)
</td>
<td width="33%" valign="top" height="7">
442,987
</td>
<td width="33%" valign="top" height="7">
478,263
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Members2 (no.)
</td>
<td width="33%" valign="top" height="7">
846,227
</td>
<td width="33%" valign="top" height="7">
913,550
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Assets2 ($m)
</td>
<td width="33%" valign="top" height="7">
423,232
</td>
<td width="33%" valign="top" height="7">
438,995
</td>
</tr>
</tbody></table>
 

Asset allocation across self–managed super funds, 2009–10 and 2010–11 income years
 
<table width="349" cellpadding="7" cellspacing="0" border="1" dir="ltr"><tbody>
<tr>
<td width="33%" rowspan="2" valign="top" height="17">
Asset type
</td>
<td colspan="2" width="33%" valign="top" height="17">
2009–102
</td>
<td width="33%" valign="top" height="17">
2010–11
</td>
</tr>
<tr>
<td width="17%" valign="top" height="7">
%
</td>
<td colspan="2" width="50%" valign="top" height="7">
%
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Listed Shares
</td>
<td colspan="2" width="33%" valign="top" height="7">
31.4
</td>
<td width="33%" valign="top" height="7">
32.0
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Cash and term deposits
</td>
<td colspan="2" width="33%" valign="top" height="7">
27.1
</td>
<td width="33%" valign="top" height="7">
28.7
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Non-residential real property
</td>
<td colspan="2" width="33%" valign="top" height="7">
11.5
</td>
<td width="33%" valign="top" height="7">
11.4
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Unlisted trusts
</td>
<td colspan="2" width="33%" valign="top" height="7">
9.6
</td>
<td width="33%" valign="top" height="7">
8.8
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Other Managed Investments
</td>
<td colspan="2" width="33%" valign="top" height="7">
5.0
</td>
<td width="33%" valign="top" height="7">
4.7
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Listed trusts
</td>
<td colspan="2" width="33%" valign="top" height="7">
4.9
</td>
<td width="33%" valign="top" height="7">
4.2
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Residential real property
</td>
<td colspan="2" width="33%" valign="top" height="7">
3.7
</td>
<td width="33%" valign="top" height="7">
3.5
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Unlisted Shares
</td>
<td colspan="2" width="33%" valign="top" height="7">
1.2
</td>
<td width="33%" valign="top" height="7">
1.1
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Overseas assets3
</td>
<td colspan="2" width="33%" valign="top" height="7">
0.9
</td>
<td width="33%" valign="top" height="7">
0.9
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Other assets4
</td>
<td colspan="2" width="33%" valign="top" height="7">
4.8
</td>
<td width="33%" valign="top" height="7">
4.8
</td>
</tr>
<tr>
<td width="33%" valign="top" height="7">
Total5
</td>
<td colspan="2" width="33%" valign="top" height="7">
100.0
</td>
<td width="33%" valign="top" height="7">
100.0
</td>
</tr>
</tbody></table>
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lschlesinger-FZcF9M3vE6

SMSF tax return numbers rise 4.8% in 2010-11 to 391,000: ATO figures

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The withdrawal of the $7,000 first-home owner grant (FHOG) in Victoria from July 1 could force first-home buyers in Ballarat and other regional towns to consider buying a new house on the outskirts to access greater government assistance.
But it is also likely to change the dynamics of the market, including a rush among some FHBS to finalise purchases before July 1 and then a drop off as others delay existing house purchases for up to a year to save deposit money to make up the shortfall, according to Trevor Booth, chairperson of the Real Estate Institute of Victoria’s (REIV) Ballarat Division.
Booth also expects investors may look to buy some of the established properties that vendors would have been targeting at first-home buyers, enticed also by Ballarat's low vacancy rate of under 1%.
Ballarat (postcode 3350) was the <a target="_blank" href="/news">seventh top location for Victorian FHBs</a> applying for the $7,000 FHOG with 298 applications received between July 2012 and March 2013.
More than half of these – 165 applications - were for existing home purchases with the rest for new homes.
The introduction of the  new $10,000 FHOG for new homes  from July 1 will come alongside the raising of stamp duty concession for FHBs from 30% to 40%.
As highlighted by the <a target="_blank" href="https://www.propertyobserver.com.au/trends/it-s-time-to-stop-tinkering-with-first-home-buyer-assistance-robert-larocca/2013042960826?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=first-homebuyers">REIV’s Robert Larocca on Property Observer earlier this week</a>, the removal of the $7,000 FHOG and the introduction of the higher stamp duty concession will mean that FHBs of more expensive existing properties will be less affected by the removal of the $7,000 grant than those buying cheaper homes.
A FHB of a $300,000 existing home from July 1 will lose out on almost $6,000 in government incentives while a FHB purchasing a $550,000 will lose just over $4,000.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/04/robertlaroccaapril29two.gif" title="Click to enlarge"><img src="/images/stories/2013/04/robertlaroccaapril29twothumb.gif"></a>
Source: SRO, REIV
This will particularly hurt FHBs in Ballarat where the median house price is $280,000, but will also impact on many FHBs in other key regional housing market like <a target="_blank" href="/news">Bendigo, where the median house price is $315,000</a>.
Currently, buying an existing or new home around the median price means benefits of around $10,100 ($7,000 FHOG plus the 30% stamp duty rebate).
“The changes to the grant will disadvantage FHBs wishing to purchase established home after July 1. It will discriminate against them,” says Booth.
“It may force FHBs to consider buying a new home to take advantage of fair bit of extra money which will increase demand for new housing and help the local construction sector, but it will put FHBs in the situation where they sacrifice the benefits of being close to amenities, to secure an extra $6,000.
Booth says the new housing suburbs are on the north and western outskirts of the city.
Booth says these new housing developments – being built by local companies – are around 10 kilometres from the Ballarat CBD.
With the traffic in Ballarat getting worse, first-home buyers who sacrifice convenience for government assistance, could end up paying more in petrol.
The uncertainty created by the changes to the grant and the lag time until they come into play comes at a time when, according to Booth, the Ballarat market is starting to show signs of improvement.
Booth says the worrying aspect of the grant changes are they impact they may have on the established home market.
Overall though, he says the Ballarat economy is “sound” with population growth of 2% to 2.5% per annum driven by strong IT, healthcare and university sectors.
Image courtesy of Travel Victoria.
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FHOG changes could force Ballarat FHBs into outer suburbs: Trevor Booth

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Prominent Melbourne law firm Slater and Gordon has cut its conveyancing fees for Victorian first-home buyers rushing to buy an existing home before the $7,000 grant for existing homes ends on June 30.
The firm’s standard conveyancing fee is $695, meaning eligible first-home buyers will receive a $347.50 discount if they buy a home before July 1.
From July 1, the government will provide a $10,000 incentive but only for those first-home buyers purchasing a new home.
All first-home buyers can also access a 40% stamp duty discount.
Adam Zuchowski, a Melbourne-based lawyer with Slater &amp; Gordon Conveyancing, predicted increased activity at the entry level of the property market.
“We have experienced a significant increase in conveyancing files since the [May 7] announcement was made,” he said.
Zuchowski said most first-home buyers were buying existing dwellings.
“Clearly there is a benefit for those first-home buyers who are able to negotiate a purchase prior to July 1 and I anticipate there will be a significant number of Victorians who will be wanting to take advantage of that,” he said.
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Slater and Gordon cut conveyancing fees to Victorian FHBs facing grant deadline

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Improving housing affordability is failing to encourage first-home buyers to step onto the property ladder – in fact the exact opposite is happening.
Despite the proportion of income required to meet loan repayments decreasing 1.4 percentage points to 30.4% over the December quarter, the number of new finance commitments to first-home buyers decreased 9.1% over the quarter and 17.4% over the year to be at their lowest level since the March quarter of 2005, according to the latest Adelaide Bank/REIA Housing Affordability Report.
The report found that first-home buyers made up just 16.5% of the market over the December quarter compared to 19% in the September quarter.
This trend looks set to continue with <a target="_blank" href="/news">mortgage broker AFG </a>recording first-home buyers as accounting for just 12.9% of home loans arranged by the group over February, down from 13.2% in January.
First-home buyer numbers fell dramatically in NSW from 11,117 in the December quarter of 2011 to just 4,459 in the December quarter of 2012, according to the REIA.
In comparison first-home buyer numbers increased in Victoria over the same time frame from 6,528 to 7,169 and also increased in WA from 3,699 to 5,014.
REIA president Peter Bushby says that largely due to a higher average income, the ACT remains the most affordable state or territory in which to buy a home, with the proportion of income required to meet loan repayments at 18.7%.
“Though the proportion of income required to meet loan repayments decreased to 36.0%, New South Wales remained the least affordable state or territory in which to buy a home,” he adds.
“Compared to the 2011 December quarter, all states and territories recorded improvements in housing affordability, the largest in Queensland and South Australia.”
<img src="/images/stories/2013/03/reiamarch6.jpg" width="470" height="304" alt="reiamarch6">
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First-home buyer numbers fall to near eight year low despite improving housing affordability: REIA

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The appeal of acquiring residential investment property by borrowing through a self-managed super fund (SMSF) has been revealed in the latest Genworth Homebuyer Confidence Index.
The report found that almost one in ?ve (18%) of surveyed SMSF holders have a mortgage through their fund, with the majority of these mortgages (75%) secured on residential property.
Among those who don’t have a mortgage on a residential property through their fund, a quarter would consider taking one out, and a quarter of those without commercial property would consider taking out a mortgage on a commercial property through their fund, Genworth found.
Property makes up about 15% of the total value of assets held by Australian SMSFs, the majority of which is made up of Australian property (less than 1% is made up of overseas property), according to ATO figures.
The value of residential property held in SMSFs grew by 12.3% in the year to December 2012.
The Genworth report also found that just over half (59%) of all mortgages were held in multiple member funds - multiple member funds make up the majority of all SMSFs, with most being two member funds, according to ATO data.
The most recent ATO figures for the December 2012 quarter reveal the  growing popularity of SMSFs with around 7,000 new SMSFs established over this period.
The ATO revealed this week it expects more than <a target="_blank" href="/news">1,000 applications a week </a>to be lodged for SMSFs in May and June this year.
Almost 950,000 Australians are now members of an SMSF.
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One in five SMSF holders have a mortgage through their fund: Genworth

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Spruikers that promote investing in property through self-managed superfunds (SMSFs) remain a major concern for ASIC.
“We don't want this to become the new playground for dodgy spruikers,” warned ASIC commissioner Peter Kell on the ABC’s The Business this week as part of a special report into the “stampede into property by self-managed super funds”.
Kell said spruikers were encouraging people to set up SMSFs to invest in property in ways “that may be completely inappropriate for the investor and they're not explaining the risks and the issues involved in investing in some of these areas”.
The Business special report named a number of businesses ASIC is “concerned about” including recently banned Melbourne-based property and finance firm Money Choice and its director Matthew George, Queensland-based Active Super, an unnamed Gold Coast company making 22,000 cold calls a week and prominent property investment firm ParkTrent, which promotes its introductory free investment seminars lunches via flyers handed out on street corners.
Ronald Cross, CEO of Park Trent told the ABC it rejected the tag of “spruiker” saying it was an “icon” and that to call it anything other than a “business enterprise” was a “cheap shot”.
Kell’s comments follow a speech in April, in which he highlighted some cases investors where investors were given advice which was not tailored to their specific situation, or recommendations for insurance were "absent or inadequate".
"Notably, we also found that investors were not warned about the very real risk of not having access to a statutory compensation scheme in the event of theft of fraud," he said at the CPA Australia SMSF Conference.
"Going forward, this will be an area of focus for us. We expect to see advice providers warning investors about this risk."
Also in April ASIC released a new guide ‘SMSFS - Improving the quality of advice given to investor’ and highlighting that SMSFs “represent the fastest growing superannuation sector in Australia, with $439 billion assets held by funds”.
“ASIC has ramped up its attention on a sector that is of growing importance to more Australian investors. We want to help ensure that we have a healthy SMSF sector,” Kell said.
In particular, he said ASIC was “concerned about the rise in aggressive advertisements pushing property purchases through SMSFs”.
“Where we see examples of unlicensed SMSF advice, or misleading marketing, we will be taking regulatory action,” he added.
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SMSF property investment at risk of becoming “playground for dodgy spruikers”: Peter Kell

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Since John Howard lifted the ban on superannuation funds borrowing money to invest in 2007, self-managed super funds (SMSF) have invested around $80 billion in property.
A March quarter survey by SMSF administrator Multiport found that 18.6% of super fund assets were property holdings up from 17.4% a year ago.
At the same time ASIC has been raising alarm bells about spruikers targeting this sector of the market with a new taskforce established to look into the behaviour of unscrupulous operators and may also consider expanding its regulatory powers to<a target="_blank" href="/news"> include property investment.</a>
Just this week a property investment adviser who allegedly recommended to various NSW investors that they set up SMSFs to invest in the development of a number of house and land packages in Queensland was charged with eight counts of fraudulent misappropriation.
In May, ASIC cancelled the credit licence of Money Choice Pty Ltd (Money Choice) and banned its director, Matthew George, after an investigation found failures to comply with credit laws, responsible lending shortfalls and instances of unlicensed self-managed superannuation fund (SMSF) advice.
In April, it was revealed that <a target="_blank" href="/news">four Melbourne businesses running seminars on investing in real estate through SMSF</a>s are being investigated by ASIC over the potentially misleading nature of flyers, advertisements and online ads promoting these seminars.
This week, ABC’s The Business program provided a special report on “less scrupulous schemes encourage people to set up funds and then borrow heavily to buy property” calling it a “ticking time bomb”.
These are five tips we have gleaned from this broadcast:
1. Don’t let appearances fool you
Consumer advocate Neil Jenman told the ABC that SMSF property investment spruikers will come across as across as “smart, clever, sophisticated, intelligent, trustworthy people. They don't come across like crooks”. He advices that no matter who you are dealing with you should "do your homework and read the fine print".
2. Be wary of cold calls that promise you can save tax and pay off your home quicker
Noel Whittaker from QUT Business School told the ABC he was aware of one Gold Coast company “making 22,000 cold calls a week” which begins with: "How would you like to save tax and pay your home off quicker? Well to see if you qualify, one of our consultants will come to your house." The next thing that happens, according to Whittaker, is a “six-hour brainwashing interview which ends up with you buying a property from them”.
3. Do your own research on property values, don’t trust rental guarantees and promises of discount prices.
Spruikers are likely to use a high pressure sales approach and seek to sell you properties at inflated values, but tell you they can sell them for you at a discount. They will also often offer guaranteed rent on a property they are selling. The higher prices are used to pay the rental guarantees and the high commissions to those promoting these property investments.
4. Always get independent advice before you sign
A spruiker will most likely connect you with their own network of property valuers, mortgage brokers, financial planners and conveyancers who may be in on the game. The four Melbourne sandbelt Melbourne businesses under investigation by ASIC were a law firm, mortgage broker, a real estate agency and a firm of chartered accountants all allegedly acting together in promoting a property investment SMSF scheme. You should always seek out the opinion of an independent valuer you trust and choose your own mortgage broker, lawyer and financial planner.
5. Don’t trust everything you read on Google. Seek personal experiences
Apart from being excellent at presenting themselves as trustworthy, spruikers are also aware that people will do their own research online. To combat this, spruikers have become very good search engine optimisation (SEO) and “flooding the web with positive material to keep the truth from coming out”. Claire Mackay from financial planning firm Quantum Financial Services, which assisted a “financially literate company executive” sucked in by plausible sounding SMSF spruikers, said she had trawl through around 15 or 16 pages of Google searches to “find out more than just guru property experts revealing the secrets”. Speaking to people who attended a seminar about their experiences is a much better way to gauge the real intent of marketeers.
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Five SMSF property spruiker tricks you should not fall for

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Western Australia has followed the example of the other states by incentivising first-home buyers if they choose to buy a new home over an established home.
In the state budget released yesterday, treasurer Troy Buswell announced that from September 15 FHBs that purchase new homes will be eligible for a $10,000 first-home owner grant while those who purchase an existing home will only get $3,000.
This means that first-home buyers wanting to purchase an existing home have just over a month to access the existing $7,000 grant.
At the same time, those FHBs considering buying a new home may delay their purchase until after September 15 to take advantage of the bigger incentive.
NSW, Queensland and South Australia offer a $15,000 grant for FHBs building or buying a new home and Victoria offers $10,000 for those who buy or build a new home.
From September 1 first-home buyers in the ACT will receive $12,500 if they buy or build a new home or buy one that has been substantially renovated.
From July 1 2014 Tasmania will offer the $7,000 first-home owners grant for new home purchases only.
The Northern Territory offers a first-home owner grant for both new and established homes providing $12 000 if the home is an established home in the urban area or $25,000 everywhere else. 
Also as part of WA’s Housing Supply Package - designed to increase the supply of housing in a state, which has the fastest growing population - the state government intends to expand the number of affordable rental properties by committing an additional $47.8million for an extra 1,000 homes under the National Rental Affordability Scheme (NRAS).
It will also aim to streamline residential planning and building approvals processes to ensure the supply of new housing is not held up in red tape.
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WA bumps up first-home owner grant to $10,000 for new homes

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<img src="/images/stories/11000.jpg">
The total number of square metres of showroom space property manager Centuria Property Funds has leased to bulky goods tenants including Harvey Norman, Fantastic Furniture, Pillow Talk and Carpet Call in both metropolitan and regional centres in Griffith in regional NSW and in the western Sydney suburb of Warwick Farm.
 
<hr>
 
<img src="/images/stories/58.jpg">
The number of staff from fund management company Tyndall Investments who will transfer across to the top floor of 420 George Street, the 28-floor tower on George Street in the Sydney CBD in August 2011. Tyndall will take the 1,220-square-metre floor to showcase its operations in Australia.   The six-year lease was negotiated by Chris Gilbert from Jones Lang LaSalle, representing the owners. The building is co-owned by Fortius Fund Management and Lend Lease’s APPFC retail fund.
 
<hr>
<img src="/images/stories/221.jpg"> 
The net price per square metre Corporate Water Solutions will pay to lease a 234-square-metre new, fully self-contained industrial/commercial units unit at 41/110 Bourke Road, in the Sydney suburb of Alexandria. The two-year lease plus a two-year option was negotiated by Peta Antoniou from Billicorp.
 
<hr>
 
<img src="/images/stories/236.jpg">
The number of square metres that solar panel producer Canadian Solar (Australia) will rent at a net price of $303 per square metre at Unit 3B, North RydeLink Business Park, 277-283 Lane Cove Road in Macquarie Park, in Sydney’s north west. The one-year lease agreement was negotiated by agent Monty Govender from Balmoral Partners.
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Commercial leasing: Watch this space

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<img src="/images/stories/4052sqm.jpg"><div>The net lettable area that polymer-based innovations and systems company Rehau has at its disposal in the freestanding building at 396 Victoria Street, Wetherill Parkin Sydney. Rehau has committed to a four-year lease at $105 per square metres (net) negotiatedby CB Richard Ellis’ Greg Pike on behalf of FFCC Pty Ltd.</div>
<div>
<hr>
<img src="/images/stories/533sqm.jpg">
</div>
<div>The warehouse space leased by Ford Land Company to nutritional supplementdistributor Reliv Australia at B2/22 Powers Road, in Seven Hills, Sydney at a netprice of $125 per square metre. The deal was negotiated by Andrew Miller from Jones LangLaSalle.</div>
<div></div>
<div>
<hr>
</div>
<div><img src="/images/stories/3years.jpg"></div>
<div>The length of the lease signed by IT input device manufacturer Dexin Group (Australia) for a 300-square-metre warehouse at Unit 31, 192A Kingsgrove Road, Kingsgrove, Sydney. Colliers International agents Alex Jaafar and Jon Orsborn negotiated theagreement. Dexin will pay $150 per square metre gross for the space.</div>
<div>
<hr>
<img src="/images/stories/260.jpg">
</div>
<div>The gross price per square metre Keith Lawson Plasterboard will pay to lease a 40-square-metre m unit at 57A Rhodes Street, Matraville, close to Port Botany in Sydney. A lease term of one year was negotiated by Marino Rodriguez, from Taylor Nicholas.</div>
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Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Larry Schlesinger

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