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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

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.

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"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.

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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."

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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.

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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."

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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."

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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.

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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.

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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.

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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."

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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."

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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.

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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.

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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.

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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;

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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."

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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.

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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.

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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."

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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.

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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."

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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."

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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>.

Margaret Lomas

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