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Ross Savas of Kay &amp; Burton Real Estate says Australian expat buyers are in a powerful negotiating position.
“They are cashed-up and ready to buy,” he emphasises.
“And they have the flexibility to offer vendors short or long-term settlements,” Savas adds.
“Often expats don’t need the house immediately and can rent it back to the vendor.”
The bottom line is that cashed-up expats are well placed to really make the most of this depressed market for high-cost properties.
“If you have cash at the moment, you are in a pretty good position,” says Shayne Harris of Savills Australia.
“There are not many people in the upper end of the market with 80% to 90% of the purchase price.”
 
For more tips for Australian expats buying back home this summer, <a href="http://propertyobserver.com.au/ebooks/free-ebook-20-top-tips-for-australian-expats-thinking-of-buying-homes-this-summer" target="_blank">download our free eBook.</a>
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Take advantage of your strong bargaining position: Tips for expat Australian property buyers

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Rich Harvey of propertybuyer argues that despite the high dollar, the depressed prices in the upper end of the property market make this a “brilliant” buying opportunity for expats with a bit of cash to spend.
“If someone is cashed up and wants to buy, they can do very well at the top end of the market right now.”
Harvey recently looked at a house with a $15 million asking price in the pricey eastern suburbs of Sydney that he estimates he could have picked up for $10 million.
And Harvey is confident that he could negotiate about $500,000 or so off houses in the $10 million range.
Angus Raine, chief executive of Raine &amp; Horne, agrees. “This is a fantastic buying opportunity,” Raine says.
“There are great, great deals to be had. And it should remain like this for next one or two years.”
Raine believes that expats should not let the high dollar dictate whether they buy a house at this time. “The upper end of the market is very soft. There is a perception out there that this end of the market has definitely bottomed.”
For more tips for Australian expats buying back home this summer, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-20-top-tips-for-australian-expats-thinking-of-buying-homes-this-summer">download our free eBook.</a>
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Balance the high dollar against depressed prices: Tips for expat Australian property buyers

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Australian expats often rely heavily on their Australian-based relatives – from second cousins to mothers-in-law – to help select properties to buy. In many cases, expats first identify potential buys on the internet and then ask their relatives to inspect the properties.
The general, but hardly unanimous, view among property specialists is that there is nothing wrong with asking relatives to inspect properties, however expats shouldn’t overly rely on their opinions when deciding whether to buy.
Shayne Harris of Savills Australia has found that parents, for instance, tend to really enjoy inspecting properties and representing their expat children. “They are obviously proud of their kids and pleased to be on the ground looking after them.”
But Harris says that some expats “rely on relatives having some sort of intuitive sense about what they like”, and this can lead to disappointment.
Rich Harvey, managing director of Sydney buyers’ agent propertybuyer, warns that the task of inspecting properties and making recommendations can place relatives under stress. “You are putting a lot of pressure on them to do a professional job that they may not be skilled at,” says.
For more tips for Australian expats buying back home this summer, <a href="http://propertyobserver.com.au/ebooks/free-ebook-20-top-tips-for-australian-expats-thinking-of-buying-homes-this-summer" target="_blank">download our free eBook.</a>
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Don't rely too much on relatives: Tips for expat Australian property buyers

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Rich Harvey of Sydney buyers' agency, propertybuyer says the high dollar can have a “very dampening effect” on the willingness of Australian expats to buy property.
In the past, Harvey’s firm had relied on expats for 20-30% of its business. David Morrell of Morrell and Koren emphasises the impact that a swing of, say, 10% in the value of the Australian dollar against other currencies can have on the value of a $5 million to $8 million house. And Morrell too has experienced a cut in demand in 2012 among expat buyers because of the high dollar.
However, Morrell and several other property specialists stress that many expats are motivated to buy property in Australia for reasons that are not influenced by the state of the dollar. Morrell says expats usually make a decision to buy in Australia when their children are reaching secondary-school age. “They normally come back for the schools.”
Ross Savas, a director of Kay &amp; Burton Real Estate in Melbourne, says “it doesn’t matter where the dollar is” if expats have to come home to educate their children or have been made redundant as countless employers cut costs.
“Don’t worry about the dollar,” adds Savas, who specialises in properties costing $3 million-plus. “If you are coming home, you are coming home. And you will need somewhere to live.
“Expats are the most expensive employees,” says Savas. “And they are the first to go when companies scale back their overheads.”
For more tips for Australian expats buying back home this summer, <a href="http://propertyobserver.com.au/ebooks/free-ebook-20-top-tips-for-australian-expats-thinking-of-buying-homes-this-summer" target="_blank">download our free eBook.</a>
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Understand the impact of the high Australian dollar: Tips for expat Australian property buyers

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Is it a smart idea to sell your business premises – owned in your own name or through your self-managed super fund – at the same time as selling your business? Or should you consider holding on to the property as an investment?
There are powerful arguments for and against simultaneously selling your business and your business premises. And tax, business and superannuation specialists warn the wrong decision could cost an SME owner a lot of money in lost tax benefits, income and capital gains.
The Survey of Financial Needs and Concerns of SMSF Members, recently compiled by Rice Warner Actuaries, shows that pre-retirees surveyed held an average of 13% of their portfolios in business property, falling to just 2% in retirement. (The survey covered super and non-super assets.)
Rice Warner suspects the sharp reduction in exposure to commercial property indicates many business owners sell their business premises when selling their businesses.
Of course, the question of whether to sell business premises at the same time as selling the business confronts SME owners at various stages of their working lives, including when they are selling a business to buy another.
Martin Murden, director of SMSF consulting with the Partners Group in Melbourne, says there is no right answer to the question of whether business owners should hold on to their business premises after selling their businesses. Much should depend on the circumstances.
Here are the cases for and against <a href="https://www.smartcompany.com.au/superannuation/050040-five-strategies-for-smsfs-investing-in-geared-property">selling your business premises</a> when selling your business:
<h2>Arguments against selling your business premises</h2>
1. Target the sale of your business to many more potential buyers
Tax and superannuation lawyer Robert Richards, principal of Robert Richards &amp; Associates in Sydney, says by selling the business without the premises, more buyers can afford to buy it. And as part of the deal, you could offer a very long lease on the business premises – which, in turn, should provide you with a reliable income.
“A lot of buyers of businesses don’t want the business premises or they don’t have the money,” Richards says. And he adds that many buyers would want to spread their risks by not having their real estate investments and their business mixed together.
“By trying to sell your business premises and business together, you are straightaway reducing the number of target buyers,” Richards emphasises.
2. Continue to profit from your business – after its sale
Richards points out you could continue to benefit from the profitability of your business after its sale by renting its business premises to the new owner.
And he asks: “If you know your business is good, wouldn’t it make sense to know you will get a good return on the property [by renting it to the business’s new owner]?”
3. Profit from your knowledge of the property
“Having run your business from the property for a number of years, you should know not only the property but the location,” says Martin Murden. “And you should know of any redevelopment opportunity [for your property].
“We have seen inner-city warehouses converted into properties,” says Murden. “And we have seen the prices they fetch.
“You might decide to hold on to the property for a few years to find a developer who may pay much more than it is currently worth,” he adds.
4. Continue to receive a concessionally-taxed or tax-free rental income and capital gains
If your business premises are held in your self-managed super fund you will keep receiving the same concessional tax treatment on the rental income and capital gains, stresses Richards.
Rental income is tax at 15% a year while capital gains are taxed at an effective 10% during a fund’s so-called accumulation or saving phase (if the property is held for more than 12 months). And your SMSF will continue to receive the usual tax breaks of landlords.
Once the assets of the fund begin to back the payment of a superannuation pension, fund income and capital gains are tax-free. This means your SMSF can eventually sell a property in the pension phase without paying a cent in capital gains tax – no matter how much the asset has risen in value over the years.
SME owners may decide to hold their business premises in their self-managed super funds after the sale of their businesses for a range of reasons including tax-effectiveness, asset-protection, and succession planning for family businesses.
 
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<h2>Arguments for selling your business premises</h2>
1. Improve liquidity of your investment portfolio
 
Murden often sees SMSFs with investment portfolios that are dominated by a single, costly property such as the members’ former business premises. This can lead to various difficulties for the fund, including poor liquidity.
SMSF trustees are legally required when setting their investment strategies to consider, among other factors, the ability of the fund to pay member benefits when necessary. Member benefits include lump sums on retirement and death as well as pensions. Obviously, pressure to pay such benefits increases as the members of a fund age.
In short, valuable business premises – particularly if designed for a specific purpose such as manufacturing a particular product – may be difficult to sell within a reasonable time for a satisfactory price.
Even if your commercial property is not held in an SMSF, liquidity of an investment portfolio is a crucial issue – particularly for retired investors. Liquidity may not have been such a priority when the members were earning incomes from their business.
2. Further diversify your investment
 
Again, SMSF trustees are legally required to consider portfolio diversification and investment risk when setting their funds’ investment strategies.
And the ability for super funds or individual investors to spread their risks and opportunities by having an appropriately diversified portfolio is often limited if most of the money is invested in a business property.
Undoubtedly, many retirees would be uncomfortable with having their retirement lifestyles dependent on the performance of a single asset.
Martin says the departure of a tenant can be a particular problem if your super fund’s assets comprise mainly a business property. Much of the fund’s financial wellbeing may depend upon regular payment of rent.
3. Escape from having to look after your property
 
In retirement, many retirees would not want the task of managing an investment property including dealing with tenants and maintenance. Management of a direct property can still be a burden even with the services of a property manager.
“No-one wants to go overseas on retirement and be cruising down the Rhine when the tenant phones with a problem,” says Murden.
4. Understand that CGT often may not be payable on the sale of your business premises
Fear of a huge CGT liability would make some SME owners reluctant to sell their business premises held, say, in their own names or in a trust – particularly if those premises have significantly risen in value over the years.
However, Richards explains that the small business CGT concessions – together with the 50% general CGT discount (applying to individuals and trusts) – often eliminate CGT on the sale of “active” small business assets. Such assets include the premises of a business.
Some SME owners sell all of their business assets and contribute the proceeds to super if possible. (Super contributions from the proceeds of small business assets that qualify for the CGT small business 15-year exemption or retirement exemption are excluded from the non-concessional contributions cap up to a lifetime limit of $1.255 million for 2012-13.)
What if the business premises were held in an SMSF at the time of their sale? As discussed, CGT is not payable on the sale of assets backing the payment of a superannuation pension.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/index.php">SmartCompany</a>
 
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Should you sell your business property when you sell your business? 

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In other words, what is the potential for future capital gains and growth in rental yields in the location of your investments?
The answer to this straightforward question may guide your decision whether to hold on to the properties and whether or not to buy another in the same suburb.
Bernie Mitchell of Focus Property Management suggests that you first look at the levels of stock for sale and rent in your area. And also try to ascertain how long properties tend to be on the market before being sold. This can provide a vital key to the possible future capital gains and growth in rental yields.
“Say about 100 properties a year are sold in a suburb, and there are 300 properties on the market,” Mitchell says. “Basically, there is three years’ of sales stock on the market now.” [Of course, unsold stock levels can vary significantly with the state of the overall property market.]
The same principle applies with the stock of properties to rent. If a suburb has a large stock of properties to rent – in other words, a high vacancy rate – it will be tougher to earn your desired rental yield.
Investors can do much of the basic research into the numbers of properties for sale and rent by searching real estate websites and by speaking to local real estate agents as well as buyer’s agents.
Signs of a strong area for property investments can include solid population growth and improving infrastructure such as the building or planned building of motorways. Quality of public transport can be a valuable indicator.
Mitchell warns, however, that strong population growth in, say, a regional area can be for a specific reason that may not lead to long-term benefits for your property investments. So do your homework.
 
For more questions to ask as to how your residential property portfolio is performing, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-how-is-your-residential-property-portfolio-performing">download our free eBook.</a>
To find out <a target="_blank" href="/news">where residential property should sit within your portfolio, watch our free webinar </a>
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How do I 'measure the temperature' of where my investment properties are located? Wealth-creation webinar postscript

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Key points to think about are the diversification of an investor’s overall investment portfolio; whether a direct property investment is still appropriate for an investor’s changing circumstances; and whether a property investment is still pulling its weight.
Financial planner Matthew Scholten is “certainly supportive” of clients having an investment property as part of their portfolios.
“Time has shown that good properties in the right location have done particularly well,” says Scholten, a practice principal of Godfrey Pembroke in Melbourne.
“[But] I don’t advocate having all of your assets in a single asset class, irrespective of what it is,” he adds.
Scholten says that one of the biggest risks for direct property investors is being overexposed to a single, high-cost and illiquid asset. He stresses to his clients the desirability of having a portfolio that is widely diversified for risk and return.
“I have some new clients who come to me who have a number of properties and not much else.”
From time to time, Scholten advises clients to consider broadening their portfolios by, say, adding more shares to their portfolios – perhaps through superannuation.
Sometimes, he recommends that a client consider whether a direct property is still appropriate given the person’s changing circumstances. Perhaps an investor is nearing retirement and no longer wants the task of looking after an investment property.
“We often suggest to such clients that it might be time to consider selling and putting the assets into a more tax-effective vehicle, such as superannuation.”
The advice will depend on an investor’s personal circumstances. The potential costs of selling a property, including CGT, should be taken into account.
Scholten stresses that the timing of a sale can be important from a tax perspective. For instance, an investor may plan to retire in a year’s time. By delaying the sale until after retirement, less tax may be payable.
Of course, the timing of a sale must make sense from an investment viewpoint.
A crucial consideration for investors is whether a property still deserves a place in their investment portfolio given its potential for capital gains and growth in rental yields.
“It’s not so much how the property has performed in the past, it is the asset’s prospect for future appreciation that is most important,” says Scholten.
“People come to me who have bought properties in, say, holiday or regional areas which have not done a great deal. I might suggest that they may be better off in something else.”
Scholten advises investors not to let negative-gearing tax breaks dictate their decision to invest or remain invested in a property. “Tax concessions won’t compensate for a poor investment.”
“If you buy a property the key is its ability to appreciate over time.”
 
For more questions to ask as to how your residential property portfolio is performing, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-how-is-your-residential-property-portfolio-performing">download our free eBook.</a>
To find out <a target="_blank" href="/news">where residential property should sit within your portfolio, sign up for our free webinar on Thursday, November 29 at 12.30.</a>
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How does my property portfolio fit my wider wealth-creation strategy? Countdown 5 to wealth-creation webinar

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Bernie Mitchell of Focus Property Management says the vast majority of his clients have come to him because of dissatisfaction with their previous property managers.
“There are generally two things they complain about – poor communication or lack of activity in the management of the property,” he says. “The real question is whether your property manager is doing what they should be doing.”
A basic job for property managers is to regularly review rents to ensure the tenant is paying a market rent or close to it.
“We review rents every six months for our clients if tenants are not on leases,” explains Mitchell. “And if a tenant is on a lease, we review the rents about 90 days before the expiry of the lease. This gives us time to speak to the owner, speak to the tenant, to negotiate and give notice to a tenant of a rent rise.”
“A lot of landlords get frustrated that some property managers do not review the rent until the lease expires. Once the lease expires, landlords do not have as much leverage [during negotiations], and the tenant is still in the property by default.”
Good property managers will also advise their clients if the rental yield can be improved by better maintenance of a property.
For more questions to ask as to how your residential property portfolio is performing, <a href="http://propertyobserver.com.au/ebooks/free-ebook-how-is-your-residential-property-portfolio-performing" target="_blank">download our free eBook.</a>
To find out <a href="/news">where residential property should sit within your portfolio, sign up for our free webinar on Thursday, November 29 at 12.30.</a>
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Is my property manager doing a good job? Countdown 4 to wealth-creation webinar

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Keeping your investment properties in top condition makes sense from a cost-control and tax perspective.
And quality tenants are drawn to well-maintained properties. Ongoing maintenance is usually tax-deductible. However, Paul Banister of accountants Grant Thornton warns: “If you let a property run down, the larger expenditure needed may be a non-deductible capital cost.”
As property manager of more than 300 investment properties across 100 Sydney suburbs, Bernie Mitchell advises clients to place a strong emphasis on maintenance.
“The condition of a property plays a big factor in attracting the right tenants,” says Mitchell, managing director of Focus Property Management.
Mitchell suggests that landlords plan well ahead to undertake regular maintenance. Typically, regular maintenance work is recommended at the end of a lease or every 12 months.
“By planning ahead, we try to ensure that the client has a buffer of funds to pay for the maintenance; large expenses shouldn’t suddenly pop up.” A property often simply requires a fresh coat of paint and new carpet.
 
For more questions to ask as to how your residential property portfolio is performing, <a href="http://propertyobserver.com.au/ebooks/free-ebook-how-is-your-residential-property-portfolio-performing" target="_blank">download our free eBook.</a>
To find out <a href="/news">where residential property should sit within your portfolio, sign up for our free webinar on Thursday, November 29 at 12.30.</a>
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Is my property maintenance falling behind? Countdown 3 to wealth-creation webinar

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Crucial tax factors to consider include the need to keep excellent tax record; to ensure as much interest as possible is deductible; to check whether your method of ownership is tax-effective; and to revisit your negative gearing strategies.
Paul Banister, director of taxation services for accountants Grant Thornton in Brisbane, says the first half of a new financial year is a great time for tax planning. By thinking about tax planning early, you have plenty of time to take any necessary action.
Banister names accurate record-keeping as a fundamental priority for property investors. Good records will help maximise your opportunities for tax deductions and make certain that non-deductible capital expenses are added to the property’s “cost base” to reduce capital gains tax (CGT) upon the property’s eventual sale.
As part of their tax-planning, Banister suggests that landlords prepare a checklist of allowable deductions.
“Basically, this checklist [compiled as early as possible in a financial year] will help give you the discipline of writing everything down,” he says.
Property management firms typically provide their investor clients with an endof-year financial summary, setting out the costs incurred in relation to a property – including for regular maintenance. Banister says that if your property manager hasn’t prepared such a summary in the past, make sure you receive one in future.
An essential part of good tax recordkeeping involves having an accurate and up-to-date depreciation report from a quantity surveyor. Banister says investors should obtain a depreciation report upon buying a property or at least before they lodge their first tax return after its purchase.
It is worthwhile checking whether you are holding your investment properties in the most tax-effective way. If not, the next question is whether it is financially feasible to do something about it.
As Banister explains, many investors choose to hold a property in the name of the spouse with the lower marginal tax rate in order to pay the least tax on rental income and capital gains.
But the most suitable form of ownership from a tax viewpoint will depend on personal circumstances. For example, high marginal taxpayers receive the biggest tax benefits from negative gearing.
When making recommendations about how a property should be held, tax advisers consider such issues as how long a property is likely to remain negatively geared and how long the property will be owned.


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Property owners who are thinking about changing ownership of a property from one spouse to another have much to take into account. Expect to pay stamp duty and property transfer costs, and possibly CGT on the transaction, warns Banister. Further, the transaction should make sense from an investment perspective.
Banister says it is a matter of “running the maths” to calculate whether stamp duty, transfer costs and CGT exceed the potential future tax-savings of changing ownership.
He suspects that in many cases, it would not be worthwhile to switch owners. As part of your tax check-up on your investment property, you should ensure that your line-of-credit or investment loan to finance the property is being used in both a tax-effective and cost-effective way.
“One of the biggest nightmares in tax compliance is where investors attempt to claim deductions for interest on a line-of-credit or a loan with redraw facility where payments [into the account] have been made and then redrawn for personal purposes,” says Banister.
“Just think of how it can play out over the whole term of a financing facility if borrowers just drop money in and take it out again for personal purposes. A proportion of the loan is not deductible; the challenge is working out which proportion. It is very labour intensive to pull apart each of the transactions.”
 
For more questions to ask as to how your residential property portfolio is performing, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-how-is-your-residential-property-portfolio-performing">download our free eBook.</a>
To find out <a target="_blank" href="/news">where residential property should sit within your portfolio, sign up for our free webinar on Thursday, November 29 at 12.30.</a>
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Is my tax planning in excellent shape? Countdown 2 to wealth-creation webinar

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

Joel Robinson

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

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

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

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

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

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

The apartment price gap drawing Sydney buyers west

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

Michael Laurence

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