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It’s probably one of the original property investing debates – should you buy an established property or a new one?  And, as in most debates, there is no single answer.  In fact, the answer is – it depends.
Ask any property developer and you'll hear "buy only new". 
A new property comes with significant depreciation benefits, meaning that you are more likely to see a positive cashflow – a situation where the shortfall between income and expenses on a property is removed by tax benefits that exceed that shortfall. 
Of course, we should ignore the fact that of course a developer thinks new is best, and also that, depending upon whom you buy from, very often developer profit hikes your buy-in price above that which you would pay for a similar property a few years old.
The point is, you need to consider the entire argument before you decide what to buy.
New properties do carry depreciation benefits.  However, if you have ever fully read a depreciation report (and why wouldn’t you, such scintillating reading they are!), you may have noted that often the depreciation available in years two and three is higher than it was in that first year.  Why is this? Once items fall into a "low value pool", as they tend to do after a few years, you get to claim larger chunks of them in one go.   And so the argument for buying a brand-new property to improve tax benefits is actually mostly moot.
I’ve also found that often a property that is two to three years old is better value than the new one. 
It’s like that brand-new car that loses 15% of its value as you are driving it out of the show room – with a new property the premium you pay for having everything shiny and new is quickly absorbed and value is lost almost immediately. The property that is a few years old has also been run in a little, with any major issues most likely identified and fixed already.  These points have little meaning for the owner-occupier, who most likely plans to stay for years and whose asset is capital gains tax-free, but for the investor, who needs every dollar of equity to enable future leveraging, that premium can be costly in the bigger picture.
Remember, too, that the "value" of a property is determined by the recent sales in the area.  A new property is harder to value, as there is little to compare it with.  I’ve lost count of the number of times that I have seen investors buy property in massive new developments, only to find that a year later the property is worth $40,000 less. 
This loss is likely due to a combination of factors – the developer profit (and middleman commission) made it more expensive in the first place, the size of the development created a supply issue for which there was not enough demand, and the market was now undergoing its first real test – re-sales were happening and the true value was finally being realised.  Of course, where that new property is not part of an overall estate, then it’s easy to tell if it’s at market value, as it will be compared to the older properties around it.
 
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Demand is a big consideration, both from purchasers and renters.  An older home situated within a swathe of brand new properties would make an unwise choice and is likely to have less demand from the available renters than a property which is more the norm for the area.  But where the area has a greater proportion of established properties and a demonstrated demand for them from renters, that "new" property might not add any bottom-line benefits to the investor, and might just cost more.  If the new property is the same price as the older property, then the newer one is the intelligent choice, as maintenance costs should be less.  However, I don’t think I’ve ever seen a new property available at the same price as an established one, so the extra that you will pay has to be considered alongside the savings you might make on maintenance.
Investors really should not be starting their search for property with a decision to go out and find only a new property, as this suggests that all they are considering is cashflow.  I’ve seen many beautiful new properties full of tax benefits being sold by middlemen on big commissions to investors who simply want to see a positive cashflow, and those investors didn’t bother to analyse the real viability of that underlying asset in investment terms.  The result is a positive cashflow property that fails to thrive and a disappointed investor who realises that you cannot retire on cashflow alone!
Rather than take part in the ‘new or old’ debate, all investors should first determine where the best area is in which to buy.  Then they should find out what type of property is most in demand there.  It’s likely that an established property, as long as it’s not too old and therefore a maintenance trap, fits the bill quite nicely and doesn’t carry the premium that a brand-new property does.  It’s also likely that, as long as it’s only a few years old, the tax benefits will be just as good anyway, the rent return the same, and the lower price will mean that great cashflows still exist and there’s profit to be made.
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. She is the founder of<a target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx"> Destiny</a>.
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Choose the best area before considering investing in a new or old property

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The property investment industry is growing rapidly, with well in excess of $500 billion invested by small investors in property in this country every year. To think that this industry operates completely without any kind of governance is beyond belief.
You can start helping to change this by writing to <a href="mailto:mbill.shorten@treasury.gov.au">bill.shorten@treasury.gov.au</a> and asking him why he refuses to do anything about regulation for the industry. When we had a Liberal government, I had made some great progress with Treasury in not only designing potential regulation, but having the government commit to implementing this regulation. The minister of the day, Nick Sherry, had made a public commitment to this pathway on one of my shows, and he had guaranteed me that the property industry would be regulated as part of ‘tranche two’ of the Credit Reform. The green paper referenced the property investment advice industry, and also committed to including it in the Credit Reform Legislation.
Once the white paper was in existence and accepted by parliament, this commitment had curiously disappeared from the agenda. Next, we saw a change of government and suddenly any intention to even consider such regulation disappeared. I have continuously tried to gain an audience with Financial Services Minister Bill Shorten to outline the problem, and he steadfastly refuses to acknowledge my existence, let alone the issue itself.
To give you an idea of the extent of the issue, here are some facts:
The property investment industry is completely without regulation. This means that anyone can wake up one day, decide he wants to be a property investment adviser, and set up shop in his own business, or working for someone else, giving you advice about property investing. There is no licence required, no education or training needed, and no one is supervising the activities of these people to ensure that you are being protected.
Some of these people provide advice only, while others, in an outrageous conflict of interest, actually sell you the property, too. In some cases, the company may have a real estate licence, however these licences simply provide ground rules about how property is sold and still leaves the entire issue of the advice surrounding these sales without governance. I recently reviewed the website of one of these spruikers who has a real estate licence, and the claim was that, while this person “technically” acts for the vendor according to the provisions of his or her licence, in fact the spruiker acts for you, the buyer, by giving you advice. If that’s not a conflict of interest, and most likely also a breach of their real estate licence, then I am not sure what is.
ASIC provides no supervision, and the Australian Financial Services reform does not recognise the activities of these property investment advice companies because a property investment is not recognised as a financial instrument. ASIC makes claims that it has the issue covered, since new rules allow the organisation to investigate “spruikers” who cross the line into actual financial advice, but this is a weak argument provided by a government department that simply cannot bear the thought of adding responsibility to an already stretched agenda. In truth, spruikers who do cross this line make up less than 1% of the players in the property investment advice industry, leaving 99% of them free to operate completely without rules, regulation or any kind of supervision whatsoever. 
If that frightens you, then consider this: property investment advisers also operate without any kind of professional indemnity insurance to cover their “advising” activities. Those with policies have significant exclusions, which limit their cover to activities which fall under legislative governance, such as finance broking. The reason for this is that the underwriters refuse to provide coverage for activities that are unregulated, and rightly so. What this means for you is that, if you suffer any kind of financial loss as a result of poor property investing advice, you have no capacity to recover that financial loss, as the adviser most likely won’t have the funds to compensate you!
And so, in case you’re not seeing the full picture here, this is how it looks:
If you are seeking assistance or advice from a “professional” property investment advice company or person to help you make what is most likely going to be the largest investment you will ever make, the company you approach will have no licence, most likely no education or training, and is not supervised by any government department or licensing body. They are not required to disclose to you any commissions they may receive from any sales made to you (and these can be as high as $40,000 per property sold), they can freely give you advice to invest or disinvest in any property or product that suits them, and, if it all goes pear- shaped, you have absolutely no regulatory framework under which to seek recompense, and no likelihood of recovering your losses from PI insurance.
If this alarms you as much as it does me, let’s get together and take action! We need a groundswell of support. We need letters to the government and support from the media. We need outrage by the very people who are not being protected to force the government into taking real action which once and for all creates the regulation within which these companies and advisers must operate. And, we need it now!
(note: some advisers have taken the trouble to become members of the not-for-profit industry association, PIPA and complete a diploma-level course. For now you can go a small way toward protecting yourself by asking questions about those you go to for assistance, and making sure that at the very least they are members of an industry association AND have completed adequate educational courses.)
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. She is the founder of <a target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny </a>
 
 
 
 
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Alarmingly, there is no governance whatsoever surrounding the property investment industry

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Research conducted by realestate.com.au has identified four common property market myths among Aussies:
<ol>
<li>The time of year doesn’t impact the success of buying and selling property</li>
<li>First-home buyers are being forced out of the market</li>
<li>Properties are currently overvalued</li>
<li>Low auction clearance rates mean houses aren’t selling</li>
</ol>
 
Myth 1: The time of year doesn’t impact the success of buying and selling property 
Consumer research indicates that over half of Australians (51%) believe the time of year bears no impact on the success of buying and selling property, with only 9% acknowledging autumn as the best time. However, autumn is most definitely the most opportune time to enter the property market. 
Realestate.com.au data reveals March and May were the two most popular months of the year for new property listings in 2011. The site attracted over 7.5 million unique browsers in May last year, the most of any month. 
Myth 2: First-home buyers are being forced out of the market 
More than three-quarters (77%) of first-home buyers in Australia believe they are being forced out of the market, yet realestate.com.au data suggests there are more affordable properties on the market now than last year. In 2011, there were 23,000 more properties at $500,000 or less listed on the site, compared to 2010. 
Today I see many first-home buyers entering the property market on a lower rung, as investors first. While many of the more exclusive suburbs of capital cities are indeed unaffordable to the first-home buyer, considerable affordability can be found in outer suburbs with excellent infrastructure and in larger regional areas which offer diverse employment opportunities and an excellent lifestyle. 
Myth 3: Property prices are overvalued 
Although 61% of Australians believe property prices are currently overvalued, this misconception has been perpetuated by sensational headlines that consider affordability only in relation to yearly household income – painting a largely inaccurate picture. 
We are at a time when housing is the most affordable it has been for a decade. From a peak of 34% of the average household income in 2010, average mortgage payments on the median-priced home have declined to 32% and are expected to fall beneath the long-term average of 30% by early next year.
Myth 4: Low auction clearance rates mean houses aren’t selling 
While almost three-quarters (74%) of Australians believe low auction clearance rates indicate houses aren’t selling. But the connection that is placed on clearance rates and market health is misleading. When comparing January 2011 to January 2012, there was a slight increase on days on market across the country. Numbers from RP Data indicate houses are selling, they are just taking longer. In New South Wales, days on market increased by nine days year-on-year, while days on market in Victoria and West Australia increased by 22 days. 
These days, buyers are much more educated and far keener negotiators. In my experience, auctions merely provide a backdrop against which interested buyers can gauge true market value and later negotiate privately for a sale. Few will commit at auction, yet many who attend later use what they witness as a suitable benchmark upon which to carry out successful, private negotiations.
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. 
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Four property myths that are keeping would-be buyers out of the market: Margaret Lomas

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At time of writing, the world has come through one of its greatest financial crises on record, and some say there is more to come. For now, we have landed at a place we have never really been before where, like the butterfly effect, our global markets respond instantly to murmurs being heard half a world away.
Technology is the culprit and also the reason why the outcome is so hard to determine. History is simply not repeating itself, and so we, as reluctant players in the drama, must strap ourselves in, hang on for the ride and hope that it comes to an end before we suffer any real damage.
Australia hasn’t been immune to the GFC, and property investors in some markets are feeling the pinch. While-ever we have such uncertainty around the economy, we can also never be sure about interest rates.
You may be using this uncertainty as an excuse not to invest. If your personal cash flows are truly that tight, then I would agree that now may not be the time. While I’m quite confident that rates won’t move too far, and while each interest rate movement can be somewhat offset by an additional tax deduction and probably even an increase in rent, I never recommend that anyone buy property if they are struggling financially.
If, on the other hand, you feel that you can manage through these unstable times, or you are an investor who currently owns property that has had a blow to its cash flow because of interest rate increases, here are some tips that may help.
Claim your deductions now
This is obvious to a lot of investors, but many people still like to wait till the end of the year to make their deductible claims so that they can get a lump sum of money back. This makes no sense. The Tax Office will not pay interest to you for the privilege of holding your money for the year.
You, on the other hand, can save interest by using the tax you can get back from your deductions to make additional repayments into your loan, offsetting interest and adding a small amount to your cash flows.
To do this, you have to obtain an Income Tax Withholding Variation (ITWV) form, from the Australian Tax Office (ATO). You can even download one of these from www.ato.gov.au. Using this form, you must estimate the income you are to receive from your property, the expenses you will have throughout the year, and also the amount of depreciation you will be able to claim on the building, fixtures, fittings and furniture. For those who have held their property for some time, this information is easy to obtain, especially if you have been diligent with tracking your expenses and income. Those who have only just purchased will need to obtain past figures from the agent, or make as close an estimation as they can.
Depreciation is easy – simply have a depreciation schedule prepared by a reputable quantity surveyor, and you will have the exact figures for each year, for the entire life of the allowable depreciation.
Once you have completed the form and lodged it, it will be assessed and your employer will be advised of how much to reduce your tax to be withheld. The amount will be based on how much you have already paid for the financial year, and so it is important that you complete a new form at the start of each financial year.
If you are worried that you will over- or under-estimate, and so incur a penalty from the tax office for doing so, don’t be. As long as you keep track of your income and expenses, you should be able to tell within around two months of the end of the financial year how close you have been. If you are more than 10 per cent out either way, there will still be time to lodge another form rectifying this, prior to the year coming to an end.
Receiving your tax breaks weekly in your pay could provide an extra $40 or $50 a week to you, and this could mean the difference between being able to manage the costs, or having to sell up.
Adding value
This is a method that I am not quick to recommend, as in many cases the cost to add value has no marked effect on the ability to increase rent. However, if you decide to explore this option, there are some things you must do. Firstly, work out exactly how you intend to add value, and establish if it is an action which is likely to impact on your yield. For example, a property in a tropical climate may be more in demand and command a higher rent return if you install an air conditioner, whereas such an improvement may mean little to someone who rents property in Melbourne or Adelaide. The   addition of a bedroom could be the solution if your property is in an area where people demand property with more bedrooms than you currently have, but where your property is typical of the average home and already satisfies demand nicely, it may not be worth it. Aesthetic enhancements such as gardens, new paint and carpets or an upgraded kitchen may add an appeal that brings more tenants, but may not impact greatly on how much they will pay.
Be guided by your property manager in this regard, and then do a cost benefit analysis. For example, a new kitchen may cost $10,000, which at 8.5% interest will cost an extra $850 a year in interest on your loan. You would need to achieve an extra $17 a week in rent to pay for this. Alternatively, an air conditioner may only cost $2,000, or $170 a year, but could add $10 to the weekly rent return of a property in far north Queensland, and additional tax breaks when you depreciate that air conditioner.
Remember, if you are a long-term property investor, you are not looking to add value to achieve a higher sales price – you are after more rent. While adding value may give you a higher valuation which allows you to leverage into more property, if cash flow is your problem today you are probably not in a position to buy more property anyway, and so the ability to increase value becomes a moot point for the short term.
More on page 2
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Increase rents and have shorter-term leases
This may sound like I am stating the obvious, but I often meet many investors who are either too busy to keep their eye on market rent, are relying on their property manager to suggest rental increases, or do not want to upset what they perceive as a good tenant by increasing the rent.
Many parts of Australia are in the midst of great pressure on rent returns. For some years now, values have increased in unprecedented amounts in many areas, and rental yields have been left behind. After a period of sustained values growth, rental yields will also follow and experience a wave of pressure. If you add to that our current housing affordability crisis, and our alarming undersupply of housing, a fact which is being exacerbated by the inability of developers to access funding to build, then it is clear that pretty soon, people will be almost fighting in the streets to rent a property. It is likely that the current rent you are asking on your property is already out of date and an increase is easily achievable.
In addition, under such circumstances, be sure to keep all of your leases short term, usually around six months only. During these times when there are more tenants available than properties to house them, it is crucial that you keep up with the market. Locking a tenant into a longer term lease, no matter how good you perceive them to be, will mean that you will miss out on the frequent opportunity to increase rents and so ease your own cash flow issues.
For those of you who feel a responsibility toward a good tenant who you have had for years, now is not the time to be overly benevolent. By all means, allow them some privileges, but don’t charge under-market rent. Times are tough and keeping rents so low that you experience cash flow problems could mean that it becomes a case of you or the tenant – and it will most likely be you.
There are a lot of good tenants around at the moment, and your job in this world is not to be worrying about cash flow management for your tenant.
Spend less
Start in your own back yard. Examine your budgets and see where you can make cuts. It is during tough economic times that those who stick with budgeting and investing become the most successful. In the olden days, where positive cash flow property was abundant, investing in property was easy.
You could buy anywhere and do well, and many properties were positive cash flow, meaning that you had no commitment from your own pocket. Now that the yields are down, property investing has once again become difficult and only those with a desire to get ahead will see the opportunities which presently abound.
If, on the other hand, your cash flow is so tight that you are not able to meet your current commitments, then it could be time to sell. Be aware that to do so you will need to have a reasonable expectation of what you can achieve as a sales price, and you will be exiting a market which many others are exiting at the same time. Selling will be difficult unless you are prepared to take a lower price than anyone else. If you do manage to sell, and you exit the investment with cash left over, use it to immediately reduce your other commitments, so the time at which you can reinvest comes sooner. Resist the temptation to reward yourself with a holiday or new car and make your commitment to achieve a better financial situation complete by minimising debt wherever possible.
For those determined to stay in the market, remember you may be now facing a temporary period of low cash flows on property and it is time for you to make some sacrifices if you wish to be successful over the long term.
Tighten your belt and increase your commitment to your future financial security. Do anything you can to avoid selling because the situation is already easing every day andyou do not want to look back and wish you had tried harder to hang on to an asset which may have one day provided a comfortable future for you.
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. This article is an excerpt from her latest book, Investing In the Right Property Now. For more information about the book, <a target="_blank" title="Investing in the right property now" href="https://majorstreet.com.au/53/investing-in-the-right-proeprty-now/">click here</a>.
Margaret will be speaking at the <a href="https://www.homebuyershow.com.au/special-offers/property-observer-offer/" target="_blank">Melbourne Home Buyer and Property Investor Show</a>. For free tickets, <a href="https://www.homebuyershow.com.au/special-offers/property-observer-offer/" target="_blank">click </a><a href="https://www.homebuyershow.com.au/special-offers/property-observer-offer/" target="_blank">here</a>.
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How to boost cash flow using your investment property

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This may shock you, but, at the time of writing there still exists no regulation in the property investment industry. Technically, this means that anyone, regardless of their experience and qualifications, can give you advice on how to spend a considerable amount of money to buy an investment property, even making commissions from the sale and charging you for their advice, and not a single piece of legislation exists to offer you the tiniest amount of protection if it all goes wrong. 
The government should be thoroughly ashamed of itself. The time and effort I have placed into trying to bring about such regulation, with the help of my fellow board members of the Property Investment Professionals of Australia (PIPA), have led me to believe that the government, and ASIC to a lesser degree, is more concerned with containing costs than they are with your financial security. 
I have had meetings with Treasury and individual senators, provided comment to newspaper articles and I have developed comprehensive submissions which practically hand the legislation to the government on a silver platter, and for five years I have been completely stone-walled. 
Do I sound mad to you? You bet I am! If you have $20,000 cash to invest, your financial planner will be regulated to the wall in regards to how they can advise you on its investment. But, mention you are looking to buy $500,000 worth of property and every shonky man and his dog will come out of the woodwork to help you part with it, and you will be left stranded when it falls in a heap. 
Recently, new regulation around mortgage brokers was introduced, and in response to a query by a journalist I know, made to the office of the then Treasurer (addressed to Bill Shorten the then Assistant Treasurer and Minister for Financial Services and Superannuation) about the absence of property investment adviser laws, a statement was issued by his office saying: 
“The government is currently implementing numerous reforms, including the national regulation of consumer credit and the Competitive and Sustainable Banking System Package. These reforms will regulate property spruiking intermediaries who are involved in arranging credit for consumers.” 
I had to be held back from flying to Melbourne and shaking the Treasurer till he finally saw some sense! The ridiculous suggestion that the only problem in this industry comes from spruikers was only upstaged by the claim that regulating the people who write the finance for their dodgy deals was going to in any way make a difference. 
The fact remains – as a property investor, you currently have no right to be protected in your dealings; if you receive bad advice which you act upon, you have no recourse. Further, your advisers are unlikely to even have Professional Indemnity Insurance, as the underwriters will not insure unregulated professionals. 
PIPA (www.pipa.asn.au) is a not-for-profit association which is working hard to change this situation, and I promise you I do not intend to stop lobbying until we have a suitable outcome. In my opinion, the only suitable outcome is regulation and I will fight for that until I am very old if necessary. Meanwhile, PIPA has created standards and accreditation to ensure that someone is watching the shop. Our members are required to uphold a strict code of conduct and to also work toward becoming a Qualified Property Investment Adviser (QPIA®) by completing a course. This course was developed initially by Deakin Prime University and I have since undertaken significant upgrades to it. 
You can help in two ways. Firstly you can email Wayne Swan, asking the simple question: “Why is there no regulation for the property investment industry and when will it be introduced?” I figure that if everyone who reads this book does this, he’ll get tens of thousands of emails and something will have to be done. Be sure that you tell him to contact PIPA, because we can help him to fast-track this issue. His email address is <a href="mailto:Bill.shorten@treasury.gov.au">wayne.swan@treasury.gov.au</a>
Secondly, you can bring pressure to bear on the industry by refusing to deal with any property professional who is not a member of PIPA. Oh, when asked they are likely to give you a range of plausible reasons why they aren’t, but the facts are membership to the association is not expensive, and we are not for profit. 
Last of all, deal only with Qualified Property Investment Advisers (QPIA®), who have completed the PIPA course. No other course matches its high standards and at least bydealing with such people you can be sure of a high standard of service delivery and knowledge.
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. This article is an excerpt from her latest book, Investing In the Right Property Now. For more information about the book, <a target="_blank" title="Investing in the right property now" href="https://majorstreet.com.au/53/investing-in-the-right-proeprty-now/">click here</a>.
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Government should regulate property investment industry

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Recently, I received an emailed from a concerned Property Success viewer who had seen my photo and biography featured on a website alongside a number of ‘infamous’ property ‘experts’ – you know, the kind whom A Current Affair is always chasing down the street, and who answer each question with ‘no comment’, or hide in the ladies room to avoid difficult questions being posed by disgruntled followers. 
This website listed five people amongst their ‘expert dream team’ and, lo and behold, there were my details, at number three! Upon further reading it was clear that I wasn’t actually appearing anywhere with my alleged fellow dream team members, and I could tell that the information and photo had been ripped from another legitimate site else ¬where. But, the point was made and anyone who knew little about these things would easily have thought that I had gone over to the dark side! 
Enlisting a friend who is great at chasing down detail, we explored further and discovered that there exists a form of ‘pyramid marketing for wealth creation sites’. We pieced the detail together and, to the best of our ability, this is how we think these things go.
An internet marketing seminar is promoted at a property investor seminar – anyone with a passion for property and something to say can enlist to learn (you guessed it!) the secrets of making money via the internet. The fee to attend such a marketing seminar is a few thousand dollars and as the return is promised as being exponential many sign up.
At this seminar, attendees are provided with a skeleton website to which they can add their own personality and they are taught how to use it to make money.
The resulting website, owned by the usually unsuspecting property investor, will have some kind of flashy name which infers the capacity to create boundless wealth, such as www. pathwaystoriches.com.au. www.millionairesinaminute.com. au. The websites are all similar in a number of ways. They usually offer four or five ‘free gifts’ if you sign up (believe it or not, I was allegedly offering one of these free gifts!), and the page detailing the ‘dream team’ contains many of those suspect experts I alluded to before. 
There are also features where the website owner’s own personality and expertise (if any) can be displayed – blogs, articles etc., and there is always the chance to buy product of some description – books, tapes and other investor tools. While all of the websites are different, they all have a visual similarity which is obvious once you visit a few – a sensationalist overtone and a lot of flashy, wild claims, inferring the potential for untold riches. 
Poke them a little and they will fall apart, as there is little use to any of the information, and the people at the top of this pyramid are shamefully taking advantage of those who might otherwise simply have had some good intentions and the desire to be in their own business. The website that I was first made aware of which had my details (which turned out to be one of many) was owned by a nice young man who seemed genuinely hurt that I was angry, as he believed I was fully aware and agreeable to what was going on. He further volunteered that the people who set up the site for him, those who were coincidentally part of that dream team, had promised him commissions which he was still waiting for. 
I have spent a lot of money having lawyers chasing down such people and ensuring references to me are removed from such sites, and I trust that those who know me will also know that I will never plunge into any such mis ¬adventure. Sadly, some of those people who have sites such as these have gone on to offering the very mentoring and seminars which Arthur found useless, and regardless of how verbal I am, not a lot seems to be changing. 
The best way for us to ensure that these kinds of opportunists don’t profit any longer from these tactics is to stay educated and refuse to pay these ridiculously large sums of money for information from people whose backgrounds are questionable. Just because an expert can vaguely refer to a successful background or experience doesn’t make it real – and many have no hard evidence that the success they claim to have even exists.
As I said, you will need to spend some money to gain a good education and to get the right support team around you. Before you do, research as much as you can, ask for evidence of the success of the person offering you the help, and get testimonials from others who can show that they have actually succeeded themselves as a result of following the advice. Anyone can publish a book and get a great looking website these days, yet that is simply no measure of their true capacity to guide you well.
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. This article is an excerpt from her latest book, Investing In the Right Property Now. For more information about the book, <a href="https://majorstreet.com.au/53/investing-in-the-right-proeprty-now/" title="Investing in the right property now" target="_blank">click here</a>. 
 
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Wealth creation websites generally too good to be true: Margaret Lomas

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Self-managed super funds are the new kid on the block, and it didn’t take long for the hungry opportunists to jump on this band wagon and set up at property shows all over the country promoting the use of a self-managed superannuation funds to buy property. 
Why is this? My theory is that these people, who benefit from both the fees to set up the funds and the commission on the property they subsequently sell to that fund, saw very quickly that, while some people did not have the equity or borrowing capacity to buy a property in their own name, those same people may well have significant funds tied up in public superannuation funds, which could be accessed legally by setting up their own funds. This then increased the number of people to whom property could be sold, and provided a brand new market for their property products. 
I am not against a self-managed superannuation fund for the right person, as long as it has been set up under the right circumstances. However I believe that there are significant drawbacks, many of which are never outlined during the selling phase, that all investors must be aware of before they make the possibly incorrect decision to set up one. Here are just a few. 
Borrowing 
Changes to the Superannuation Industry Supervision (SIS) Act in September 2007 now mean SMSFs can borrow to purchase real estate, using a structure established for this purpose, as long as certain conditions are met. There are various loan products offered which enable these purchases to be made. 
There are a number of issues with these loans:
 
<ul>
<li>It is not a straight loan to the superannuation fund – there must be a trustee who buys the property on behalf of the fund, who becomes the legal owner, while the superannuation fund becomes the beneficial owner that is, the entity which benefits from the asset.</li>
<li> Loans to superannuation funds are known as non-recourse loans. This means that, if the loan is not repaid, the capacity of the lender to recover the outstanding money is limited to what they can recover by selling the property which those funds bought. They cannot touch any other fund assets. This seems good on the surface, but it means that the loan to valuation ratios are usually quite low, around 60%, to allow a suitable margin to pay costs and to account for any falls in the market value. This means that the super fund will need to have the remainder of the purchase price, plus costs available.</li>
<li>Each security property can only be used once – even if it grows significantly in value, its equity cannot be leveraged into further property. This means that each time a super fund buys a property, it must have the cash available to cover 40% of the purchase price, plus costs. If you consider that most people have less than $100,000 in superannuation, this means that their super fund can probably buy only one property. I consider the major strength of a property investing strategy is the ability to compound growth through leverage, and one property does very little for your financial future.</li>
</ul>
 
There are some benefits too:
<ul>
<li> As a trust structure, assets within this fund can pass more easily to beneficiaries. </li>
<li> If you own your own business you can borrow to buy your business’ real property (but not operating assets) using the super fund. </li>
<li> You will pay a maximum 10% capital gains tax upon eventual sale of a property, and if the property is sold during the pension phase there is no CGT. </li>
<li> You pay a maximum 15% income tax on rental income. </li>
<li> Other super fund assets are secure as the lender does not have recourse to the other assets. </li>
<li> Interest expenses may be claimed as tax deductions by the SMSF, which can potentially reduce your SMSF’s tax liability. </li>
</ul>
To set up and run your own SMSF, it is required by law for the SMSF to be a complying fund. You will need to consult with a financial adviser to check on the eligibility of your fund under the SIS Act. Severe penalties apply for non compliance under this Act. 
In addition, you have to have an articulated investment strategy in place. It must reflect the purpose and circum -stances of the fund and take into account: 
<ul>
<li>How to maximise its member returns, while taking into account the risk</li>
<li> Diversification of the long-term investment strategy; and </li>
<li> The ability of the fund to pay benefits as members retire, as well as other expenses incurred by the fund. </li>
</ul>
If a fund becomes non-complying, its income tax rate will go up to 45%, and it will also incur 45% tax on all of its assets, at the start of each year that it is in breach. This will cause the fund to have a tax bill it probably can’t pay, and this may cause the property to be sold.
Remember also that for many, property is a long-term hold, and eventual sale may not even feature, which will reduce some of the benefits that buying a property using a SMSF may bring in the short term. 
You can’t live in any property that your super fund buys and you can’t rent one from your super fund, so the idea of buying a holiday home for your own use is out. You also cannot transfer personal assets into a superannuation fund, and so there is no opportunity for your super fund to take ownership of any residential property you already own.
On balance, I think there is little benefit to be gained from the average person setting up a self managed superannuation fund for the principal objective of investing in property. The compliance procedures to ensure that your fund isn’t in breach of legislation can be costly and cumbersome, and these added costs can reduce some of the other benefits significantly.
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. This article is an excerpt from her latest book, Investing In the Right Property Now. For more information about the book, <a href="https://majorstreet.com.au/53/investing-in-the-right-proeprty-now/" title="Investing in the right property now" target="_blank">click here</a>. 
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Self-managed super is not always a good way to buy property: Margaret Lomas

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In every book I have ever written, I’ve outlined the various schemes and scams which are on offer for property investors. Just as I think I’ve come to the last of them, new ones emerge and property investors must remain ever vigilant to ensure that they are not trapped.

A few months ago, Arthur emailed me to tell of his discontent with a service for which he had paid $15,000. He was somewhat sheepish in admitting that, while he sees himself as astute and careful, he had been swayed by the promises of this company, the head of which had written a book and so had acquired some credibility in the property industry.
In a nutshell, Arthur had been promised one-to-one mentoring that would significantly accelerate his investing success and, as these companies often promise, launch him into millionaire status in a short timeframe. Through a succession of workshops and telephone meetings, Arthur would be provided with the secrets he needed to realise his dreams of wealth.
Of course, as you have probably guessed, Arthur quickly discovered that there are no secrets, and after attending a number of unenlightening seminars and receiving a few rushed 15-minute mentoring calls, Arthur’s disillusionment was complete. He had discovered that his mentor was probably only a few steps ahead of him and had no secrets to tell at all, apart from the stunning revelation that he needed to find property with growth of more than 12% per annum!
Well, of course, that would be lovely, wouldn’t it? If only we could all just pluck areas that will return 12% per annum, every year, then we’d all be rich in a short period of time. But the truth was that this company, like so many others, was making millions from the mentor fees of investors just like Arthur, and its own property portfolio is likely the result of this windfall, rather than their own investing prowess.
You most likely read this and think that you would be less gullible than Arthur, but I know for a fact that Arthur is intelligent and enquiring. He’s just really busy, and the chance to have someone, whose  marketing is brilliant, do the hard work for him made him vulnerable to their promises and easily led in that instance. Luckily for Arthur, he was able to have his fees refunded, but not without a considerable battle in which all manner of legal action was threatened. In the end, it was quietly settled, meaning that this company lives to rip off more people like Arthur.
I am not for a moment suggesting that you should not seek a mentor, or even pay for good quality education. I am suggesting, however, that as there are no secrets to be revealed, such mentoring and education should represent value for money and be provided by people who truly have the runs on the board. I know of several experts who have vast experience and skills in the area of property investing, who also provide value-for-money courses and assistance, and who are genuinely in the business of helping others, rather than being in the business of amassing their own fortunes.
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. This article is an excerpt from her latest book, Investing In the Right Property Now. For more information about the book, <a href="https://majorstreet.com.au/53/investing-in-the-right-proeprty-now/" title="Investing in the right property now" target="_blank">click here</a>. Tomorrow Margaret will outline self-managed superannuation scams to avoid.
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Property investment is not a get-rich-quick scheme: Margaret Lomas

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Margaret Lomas

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