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 Over the years, we have helped more than 550 residential projects come to fruition throughout Australia.
And part of what we do, in our efforts to ascertain what works and what doesn’t, involves focus group research.
Here’s some of what we’ve found:
Resident feedback from apartment renters and owner-occupiers tells us that the most important features of an apartment complex are as follows:
<ul>
<li>Location</li>
<li>Design aspects</li>
<li>Security</li>
<li>Onsite management</li>
<li>Aspect/views; and</li>
<li>Resident facilities</li>
</ul>
The main dislikes are:
<ul>
<li>Noise-related issues</li>
<li>Substandard quality</li>
<li>Slow or faulty lifts</li>
<li>Parking problems</li>
<li>Lack of storage; and</li>
<li>Poor apartment design</li>
</ul>
In order of preference, the most important apartment inclusions are:
<ul>
<li>Quality ducted air-conditioning</li>
<li>Useable balconies</li>
<li>Car parking</li>
<li>Ample storage; and</li>
<li>Wireless technologies</li>
</ul>
In order of preference, the most important complex inclusions are:
<ul>
<li>Security systems</li>
<li>A mixture of uses and services on site</li>
<li>Minimal waiting time for lifts</li>
<li>Swimming pool; and</li>
<li>Barbecue/communal entertainment area</li>
</ul>
Buyer feedback is what we undertake on behalf of clients with people who have expressed an interest in buying apartments off the plan.  Often the most valuable feedback relating to the sales and marketing of a new project is gained from people who did not end up buying.
Here are some of our findings:
Brochures are often too generic – “Could have been advertising any new apartment project” is a common complaint.
Most brochures fail to show the exact location of the proposed new apartment tower and how it relates to the local area.
The lack of pricing information is very frustrating – most people want as much relevant information (pricing, floor plans, body corporate fees, etc.) up front so they know if the project is worth looking at.
People hate receiving pricing advice that turns out to be misleading.
Previous buyers expect to receive special offers and do not want to have to prove their bona fides all over again.
Illustrations of apartment interiors, colour schemes and display furniture often do not appeal to the (older) target market.
Kitchens and bathrooms seem often to be designed by men, not women.
Many buyers thought the cost of additional storage space was excessive. Some noted they could purchase over-car storage cages themselves much cheaper; others thought they shouldn’t have to pay for storage anyway, seeing it is such a basic design requirement.
Developers generally don’t stress their track record highly enough.
Many potential buyers object to the pressure they feel they are put under by sales staff, particularly at the official launch of a project.
So, our question to you is, what have we missed?  Is there something on your list of likes or dislikes that would compel you to buy or rent in one project over another?  Is there something in the sales process that you have found really helpful, or really sticks in your craw?
Don’t hesitate to let loose.  <a target="_blank" href="https://www.surveymonkey.com/s/ResidentAndBuyer">Click here to give us your responses</a> – and then stay tuned for a follow-up – we’ll let you know when.
And at the risk of overload – but we don’t do this very often – here’s a final call for our regular Matusik Pulse poll.
This week’s poll asks what it would take to get you to seriously consider a new dwelling investment.  Don’t hesitate – it only takes a few seconds to <a target="_blank" href="https://www.surveymonkey.com/s/ConsiderInvestment">click through and give us your response.</a>
Michael Matusik is the founder of <a target="_blank" href="https://www.matusik.com.au">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Readers can follow <a target="_blank" href="https://www.matusikmissive.wordpress.com">Michael's blog</a> or follow him on <a target="_blank" href="https://www.twitter.com/michaelmatusik">Twitter</a> – five tweets a day, some of which are on the property market.
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michaelmatusik-49YzLvdmNv

What off-the-plan apartment buyers want – and what they don't

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Can’t let the day pass without saying happy 4th of July to my American friends – goodonya guys, watch the hotdog intake!
Matusik Pulse polls have been a regular feature of our missives for some time now, and it seems that you – our faithful followers – really enjoy putting in your two-bob’s worth and finding out what others have to say.
Results and a new poll appear each Saturday on Matusik Missive, but not everyone gets the time to explore them; so for those who may have missed our weekend reads, here’s a replay of our last five polls:
Click to enlarge
<a href="/images/stories/2012/07/matujuly41.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/07/matujuly41thumb.jpg"></a>
Highlights:
Here’s what you said, in order –
<ol>
<li>Limited finance/low valuations</li>
<li>High taxes and charges</li>
<li>Job insecurity</li>
<li>Lack of demand</li>
<li>Poor capital growth/limited rental return</li>
<li>Developers will not discount/meet the market</li>
<li>Interest rates too high</li>
</ol>Read <a target="_blank" href="https://www.propertyobserver.com.au/queensland/marketing-costs-dont-reflect-a-propertys-value-and-queenslands-form-27c-is-a-joke-michael-matusik/2012051554712">here</a> and <a target="_blank" href="https://www.propertyobserver.com.au/residential/property-valuation-101/2012022153484">here</a> for some thoughts on valuations – and <a target="_blank" href="https://www.propertyobserver.com.au/tax/queensland-needs-stamp-duty-reductions-to-level-the-playing-field/2012022853606">here</a> to see what we said about Australia’s high property taxes. Click to enlarge
<a href="/images/stories/2012/07/matujuly42.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/07/matujuly42thumb.jpg"></a>
Highlights:
The majority would get rid of the media room.  Very few would be willing to reduce storage space, hallways and entry points or size of the kitchen. One in five do not think our houses are too big.
Revisit <a target="_blank" href="https://www.propertyobserver.com.au/trends/sp-moodys-and-fitch-self-serving-attention-grabbing-vacuum-heads-michael-matusik/2012060555002">this post</a> for some interesting replies to house sizes.
<a href="/images/stories/2012/07/matujuly43.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/07/matujuly43thumb.jpg"></a>
Highlights:
Here’s how you responded, in order -
<ol start="1">
<li>2 bed apartment Chermside (10 kms of CBD)</li>
<li>1 bed apartment Albion (5 kms of CBD)</li>
<li>4 bed house Northlakes (25kms of CBD)</li>
<li>3 bed townhouse Carseldine (15 kms of CBD)</li>
<li>1 bed CBD apartment</li>
</ol>
<a href="/images/stories/2012/07/matujuly44.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/07/matujuly44thumb.jpg"></a>
Highlights:
You responded, in order -
<ol>
<li>Media</li>
<li>Federal election</li>
<li>World economic outlook</li>
<li>Interest rates/finance availability</li>
<li>Local economy</li>
<li>Property valuations</li>
<li>Amount of resale stock for sale</li>
</ol>
The tangibles – our local economy, property valuations, stock on the market, and even interest rates and availability of finance – are perceived to have little influence on the market.
Yet the media and the seemingly interminable wait for a federal election do.  That says a lot about the influence of negative reporting in my book.  Confidence is what is needed.  <a href="https://www.propertyobserver.com.au/trends/good-news-for-australian-property-but-were-too-gloomy-to-enjoy-it-michael-matusik/2012062455246" target="_blank">Click here</a> to read my full comment on this poll. Highlights:
You responded in order -
<ol>
<li>Land supply</li>
<li>Smaller product &amp; land size</li>
<li>Faster approvals</li>
<li>Lower interest rates</li>
<li>Smarter building practices/materials</li>
<li>Government grants</li>
</ol>Revisit <a target="_blank" href="https://matusikmissive.wordpress.com/2009/11/11/home-ownership/">here</a> and <a target="_blank" href="https://www.propertyobserver.com.au/residential/government-handouts-can-be-misguided-and-misdirected-michael-matusik/2012062855335">here</a> to read why grants and the like do more harm than good. Michael Matusik is the founder of <a target="_blank" href="https://www.matusik.com.au">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Readers can follow <a target="_blank" href="https://www.matusikmissive.wordpress.com%20">Michael's blog</a> or follow him on <a target="_blank" href="https://www.twitter.com/michaelmatusik">Twitter</a> – five tweets a day, some of which are on the property market.
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What is stopping residential property sales: Michael Matusik

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“Trust not their presents, nor admit the horse.”
Nope, it’s not about the legend of the Trojan horse.   In this case – and it is my blog after all – we’re talking about government incentives.
For the most part, the theory behind home-buyer incentives (and these include concessions for stamp duty or transfer duty as it is now known) is commendable.
But in practice, as we have seen, most government handouts can be misguided and misdirected – sometimes amounting to little more than political nonsense.
Ultimately, as we wrote here, grants like the first-home buyer grants, for example, have the propensity to be detrimental to first-home owners; being inflationary in nature, and resulting in upward movement of prices.
In short, <a target="_blank" href="https://matusikmissive.wordpress.com/2010/02/24/beggars-belief/">I don’t like politically inspired property incentives</a>.
But that’s not to say that they are all bad, all the time, and I will concede just a tad that some grants and concessions may provide positive impact.
On the eve of a new financial year, here are some of the changes that we can anticipate in home-buyer incentives and transfer duty:
Queensland will say hello to new transfer duty rates from July 1st.  This is a reinstatement of the principal place of residence exemption and applies to the first $350,000 value in a home.  Further concessions will remain for first-home buyers – a $10,000 grant will be available between August and January.
In terms of transfer duty relief, numbers here are enticing – a $300,000 property purchase, for example, that previously incurred $8,325 in duties will now require just $3,000.  And a $500,000 purchase that previously incurred a transfer duty of $15,525 for example, will now require $8,750.
New South Wales will get a new home grant scheme – purchasing or building a new home will provide $5,000 to buyers for homes valued up to $650,000 and land valued at up to $450,000.
The state will shelve its previous bonus scheme which provided a full exemption on transfer duty for new homes up to $600,000 and land up to $400,000.
Victoria – From July 1, two first-home buyer schemes will be dropped – the $13,500 first-home bonus scheme and the $6,500 regional bonus scheme.
First home buyers will receive an increase in transfer duty reductions from 20% to 30% on the January 1, 2013; from 30% to 40% the following January, topping out at a 50% reduction effective September 2014.
South Australia – transfer duty will be scrapped for off-the-plan apartments –<a target="_blank" href="https://www.propertyobserver.com.au/residential/reducing-stamp-duty-not-boosting-building-the-key-to-solving-housing-crisis-michael-matusik/2011110852260"> here’s what we think about paying duty on off-the-plan purchases</a> –  in Adelaide City and North Adelaide. 
Elsewhere, a full concession will be capped for off-the-plan apartments valued up to $500,000 up to 30th June 2014.
From July 1 the first-home bonus grant will be halved, with up to $4,000 available for eligible buyers who qualify for the federal $7,000 first-home owner grant, and the grant will be abolished entirely from July 2013.
Schemes come and go; some hold promise and may deliver; too many fizzle and are quietly put to bed.
While the introduction of a new grant, or the ending of a current one, often brings forth a flurry of activity, more often than not, the activity is not sustained.  As we wrote here, there’s a lot that we can do, and a lot that we need to undo to boost our ailing property industry.  But building grants and the like are not always the answer.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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Government handouts can be misguided and misdirected

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No argument – making a buck is harder these days – it’s a jungle out there, folks, and survival depends, for mine, on working longer and smarter.
Part of any worthwhile strategy can mean extracting the best out of what we already have.
When it comes to property, more than 90% of investors, according to recent survey results, are the “lock and leave” type – or the passive investor profile.
That laissez-faire approach sometimes extends to overlooking less-obvious ways of decreasing the costs of holding property. Surprisingly, one of those most often overlooked is depreciation.
Brad Beer, of BMT Quantity Surveyors, sent through an interesting note the other day about his research, which affirms that 80% of property investors are not taking advantage of the property depreciation laws – basically missing out on some worthwhile coin, if you ask me.
Brad reckons that on average, investors find between $5,000 and $10,000 as a first full-year deduction.
Owner-investors are seemingly au fait with the tax advantages of negative gearing, but according to BMT, the depreciation benefits of property are less understood.
Many buyers of new investment property cite the tax benefits of depreciation as a reason to buy new. And while this should not be the main consideration for purchasing, those benefits can result in a significant boost to cashflow.
But you can also claim depreciation on renovated properties. You just need to know what you are doing. In this regard, it pays to employ a quantity surveyor who is trained in the area of tax depreciation. Good advice can make a difference to investor decisions both prior to and after purchase, and can impact greatly on the long-term quality of the investment. It really is money for jam.
Briefly, let’s just look at one straightforward example of how much money could be involved. In fact, you can even try out one of the simple depreciation apps for yourselves – there are dozens out there. But by way of example, a $500,000 new Brisbane apartment, built to a high standard of finish, could net the buyer about $100,000 in the first 10 years, with $14,000 paid after the first year, if using the diminishing value method.
Again, expertise is key. For new property, a quantity surveyor’s work will cover a 40-year period – so there are even more savings available beyond the first 10 years.
For those who are new to the investor game, or are thinking about it, the potential of both new and old properties to attract depreciation benefits, which the owner can claim as a tax credit, can be somewhat of an unknown quantity. And given the widely held perception that older properties will attract no claim, it really is worth having an expert look into any property scenario.
For new property you’ll need a valuation of the building from a quantity surveyor who is registered with an ATO accreditation.
And for property that is not new, you’ll need a construction date and other information so that a depreciation schedule can be drawn up.
A property depreciation report will make life easy for accountants and should include the following technical and service aspects:
<ul>
<li>A site inspection</li>
<li>A list of values for fittings, fixtures and the structural elements of a building</li>
<li>Calculated deductions projected for up to 40 years</li>
<li>Cover any extensions or renovations – even those of a previous owner</li>
<li>Accelerated depreciation for assets that qualify</li>
<li>100% deductions for immediate write-off for items that qualify</li>
<li>Deductions split based upon applicable ownership ratios</li>
</ul>
The report fees, of course, are 100% tax-deductible.
Yes, property has had a bad rap of late; but as we reported recently there is some good news afoot, especially in Brisbane, where the market is starting to turn. And in spite of lingering negativity and a changing prognosis for the way forward for the property market, investment property that is well-located and actively managed remains, in my opinion, one of the best ways for everyday Australians to generate wealth, with its attractive combination of capital growth, rental income and generous tax breaks.
More than ever, it is important to pay attention to detail more and make sure that we maximise whatever advantages are available.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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Property investors who don’t take advantage of depreciation laws are missing out on worthwhile coin

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Well, there is good news, but apparently, we’re still too gloomy to enjoy it.
The official stats show a healthy economy; housing sentiment is up and property, according to CommSec, is back in favour.  Overall, Aussie consumers are more optimistic.
But a mindset of misery lingers, and we aren’t quite willing to let go of it.
The Westpac/Melbourne Institute index of consumer sentiment rose, albeit minimally, by 0.3% in June, though remains down almost 6% on a year ago.
Banks were nominated as the best place to stash your cash by 33% of consumers, but the next best, and the biggest mover, was real estate – one-quarter of respondents (up from 18%) consider it the wisest place to put savings.
The jump in sentiment is, as CommSec economist Craig James reports, good news for our beleaguered housing market.
Sales are starting to lift, but consumers really need to follow through.  Why are we so reticent?
Perhaps our collective outlook is a backlash from the incessant negativity of politics or the chatter of an imploding Europe.
Or perhaps we need a bit of a shake up and an<a href="https://www.propertyobserver.com.au/trends/australias-prudent-mindset-comes-at-a-cost-with-little-established-house-price-growth-for-a-decade/2012061955193"> attitude adjustment that melds with the reality of a changing world. </a>
Jog and live longer 
I always read these too, don’t you?  Spotted in the Fin Review – a heart study in Copenhagen has found that slow and steady really does win the race.
To be a winner, you have to jog slowly, moderately if you must, and regularly – 60 to 150 minutes max per week, over two or three sessions.
The study of 20,000 participants started in 1976 and has found that regular joggers will improve their longevity by 6.2 years for men and 5.6 years for women.   Apparently this helps with happiness and wellbeing too.  I’m on it!
Poll
Last week’s MatusikPulse poll asked:  What you think is likely to influence the market over the next 12 months.  Here’s how you responded:
Media:  23%
Federal election:  22%
World economic outlook:  19%
Interest rates/finance availability:  15%
Local economy:  10%
Property valuations:  7%
Amount of resale stock for sale:  4%
So, how’s that for irony?  The tangibles – our local economy, property valuations, stock on the market, and even interest rates and availability of finance are perceived to have little influence on the market.
Yet the media and the seemingly interminable wait for a federal election do.  That says a lot about the influence of negative reporting in my book.  Though in terms of the federal election, just bring it on – puhleeze!
As to world economic outlook, let’s look at it this way: the economies of Greece, Ireland and Spain combined are less than that of Florida.  The perception that the world will come tumbling down, and us with it, due to strife in Greece or Spain, for example, has more to do with the desperate search for a headline than anything else.
Interest rates are an issue, and finance is harder to get.  But really, we may just have to get over our obsession with every little percentage movement – if you are not financially sound enough to get a loan at, say, 7%, you’re not going to get one at 6% either.
But guess what?  The forecast for Australia’s growth next year is 3.4% (up from 3% this year); Britain 1.7%, Japan 1.5%, U.S. 2.3%, and Europe 0.7%.  The growth projections are less than seen in the past, but still growth never-the-less – and we’re on top of the heap.
Confidence is what is needed.
<a href="https://www.surveymonkey.com/s/ImpactAffordability">This week’s poll question</a> asks your opinion on what will have the greatest impact on new housing affordability.  Please take just a few seconds to give us your answer.  Results next Saturday.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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Good news for Australian property, but we’re too gloomy to enjoy it

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Prudent means to be:
<ul>
<li>discreet or cautious in managing one’s activities; circumspect</li>
<li>practical and careful in providing for the future; or</li>
<li>exercising good judgment or common sense</li>
</ul>
It comes from the Latin pr?d?ns, meaning far-sighted.
Everything cycles, but around some form of structure.
An economy is driven by both cyclical (temporary, although often repetitive) changes, as well as structural (longer-lasting and often more painful) forces.
For mine, putting aside the deadheads we currently have in Canberra, the national lack of confidence is more complicated than reasons like our house prices have stopped growing, or we are worried about Europe or the carbon price. We are changing as consumers and have become conservative once again.
The official stats show a healthy economy, yet many think it is weak and demand a cyclical solution – another handout, a tax cut or further drops in interest rates.
RBA head Glenn Stevens laminated as much last week when he grumbled that our current gloomy mood is largely because people are mistaking structural change with cyclical ones. Well, we don’t really like change regardless of what form it takes.
But the real underlying issue here is structural, and cyclical remedies will make very little difference. Just look at what little impact the recent declines in interest rates have had on retail sales or home buying.
Look, too, at the lacklustre influence the recent Queensland housing boost really had on new starts. Ditto – and despite the housing industry’s loud applause – the likely outcome on new construction in New South Wales with last week’s first-home buyer incentives towards new homes. Without greater certainty in the development approval process and an economically feasible solution as to who pays for local infrastructure, the NSW grant for first-time buyers won’t be enough to significantly lift new construction.
Also, most first-home buyers will not be able to get finance. Worse still, valuers will discount the bonus off the purchase price, making settlement even harder to complete.
So what is the big structural change? In short, we have returned to our former prudence.
Household savings dropped dramatically in the 1990s, and in the naughties (yes, spelt correctly) it went negative for a while. Today our savings rate is close to double digits, yet we felt wealthier when we had absolutely nothing in the bank. Why?
Because the gross value of our assets – for most, their home’s value – more than doubled between mid-1990 and 2007. It was 14 years of a power salute. This happened because we had to outdo the Joneses next door – we moved into better homes, took on more debt to do so, and gearing up was possible due to bank deregulation, lower inflation and cheaper loans. But the music stopped with the GFC and we – correctly – reversed our actions and got on top of our debts.
Prudence is back in vogue, baby. And somehow – yes it is hard to believe – it has a strong and I think lasting appeal. Home-grown is in, recycling too. Borrow, don’t buy. Measure many times and don’t even cut. Walk outside, not the gym. Renovate, don’t move.
But such a mindset has a cost. Property sales are down by a third against the past decade; generic dwelling values have fallen a bit – now they won’t keep falling forever – but they won’t also grow like they have done in the past. Nor will sales volumes.
In addition to prudence, we are buying different things. We are buying services, not goods. Maybe we already have many of the goods we really need, but when a society ages it uses more services. This is happening here and is best shown in the health sector where, new employment in this industry is up 260,000 since 2008. This is twice as many new jobs as in mining! And sadly, by way of comparison, the construction industry in Australia lost 23,000 jobs in the last three months alone.
Also, there is the digital revolution – it makes everything and everyone much more price sensitive.
So what does this mean to the property market?
Established housing – unless it has true redevelopment or good renovation potential – will record little to no real price growth for some time – i.e., a decade.
Discretionary markets and products – think Cairns or top-end holiday homes – will experience little demand. Prices could continue to slide, and being priced under replacement cost (the usual trigger for an upswing) might not trigger a positive response this time around.
New product will only sell if it appeals to the market’s needs. For renters this means convenience, and for owner-residents it’s flexibility. Spaces need to be practical yet have dual (or more) uses. Wasted space must go.
Rental return is the key investment performance indicator. Maximising the current tax advantages is second and capital growth a distant third. For a passive investor – over 90% of investment buyers – new property wins hands down. A minimum holding time is now 10 years, maybe longer.
Apart from being well-located in the urban fabric and designed for the target audience, property winners will be in areas with the best job prospects. Many of these won’t be in the capitals.
The way property is sold has changed. This is especially true for investors. Today’s property investor is essentially not actively looking to buy a property. The usual actions that accompany a property purchase – reading newspapers, searching the internet, visiting new projects and/or real estate agencies – aren’t in vogue. Hence the traditional sales methods and advertisements have limited impact on property investors. Under the current market conditions, most property investors become buyers due to independent advice and endorsement. They receive such advice often via the finance industry, and most of this advice is sourced from non-property-related enterprises. Today’s property investor is usually a professional or, increasingly, someone in the resource sector. Either way, he or she has very little time to dedicate to searching out property opportunities. Property investors, however, often seek financial or other related advice.
Many new projects will not proceed. This will more often than not be reported by the mainstream media as failure, but it truth, it just reflects our more prudent times.
“Rashness belongs to youth; prudence to old age.” Marcus Tullius Cicero
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a target="_blank" href="https://www.matusik.com.au/"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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Australia’s prudent mindset comes at a cost, with little established house price growth for a decade

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We do not purport ourselves to be economists, but Craig James of CommSec is – and a good one at that – and a few weeks ago he put out an alert to the effect that Aussie government bond yields are at 64-year lows.
Good thing? Bad thing?
It’s a good thing – a giant tick for our economy – and it means that Australian government debt is in demand, along with securities in the US and Germany, as investors seek “safe-haven” assets.
The lower yields will reduce borrowing costs for our government and therefore assist in reducing the budget deficit and public debt; and they will also serve to keep borrowing costs down for companies and home buyers.  Aussie borrowers will benefit but will need to examine their options to disperse debt between variable and fixed rates.
The jitters surrounding Europe may be taking their toll on equities markets, but under this scenario, Aussie borrowers are emerging as winners with a chance to focus on opportunities rather than risks.
Residential real estate benchmarking
My thanks to John Rigby, director of sellAbusiness for sending through an excellent summary from Macquarie’s 2012 Benchmarking Report.
Here are his top 10 points from the report:
<ul>
<li>Rent rolls now account for 42% of total revenue, against 36% in 2009</li>
<li>The average rent roll size has increased from 375 properties in 2009 to 436 properties in 2012</li>
<li>22% of all offices did not make a profit in the financial year.  58% made above 10%, with just 10% of offices making more than 30%</li>
<li>In the last 12 months, the average office completed 106 sales on an average commission of 2.6%</li>
<li>The average days on the market are:  SA 100; WA 95; Qld 79; NSW 65; Vic 58</li>
<li>% of properties listed via auction:  Vic 32%; NSW 26%; Qld 11%</li>
<li>Rent roll portfolio sizes:  NSW metro 486, regional 267; Vic metro 661, regional 363; Qld Metro 423, Regional 383</li>
<li>The national average property management commission rate moved up substantially to 7.6%</li>
<li>Perceived value of rent rolls as a multiple of management commission:  National 2.9x, NSW 3.1x, Vic 2.9x, Qld 2.6x, WA 2.7x, SA 2.5x</li>
<li>% of advertising costs paid by vendors: National 72%; NSW 63%; Vic 85%; Qld 73%: WA 64%; SA 94% (but SA had the worst percentage for getting VPA upfront)</li>
</ul>
And if you <a target="_blank" href="#!/MichaelMatusik">followed us on Twitter</a> then you would know all this already.
How to sell your message
Steve Jobs was a great salesman.  The co-founder of Apple was able to “sell” the benefits of Apple products in his presentations like no other.  Courtesy of The Week, here are a few lessons from Jobs on how to create a great presentation:
Establish one critical point and make it clear.  (We humans can only absorb so much in one session).  Any differentiation from the main point is merely a distraction.
Make a fast connection – an “emotional” impact that builds “empathy” so the audience is more receptive to the message.
Know why the audience is keen to listen.  Adjust the style to suit the room.
Keep the audience focused on the speaker, not the presentation.  Use a blank slide to force all eyes on you.
Know your story.
Now that doesn’t seem hard, does it?
Matusik Pulse poll
Last week’s Matusik Pulse poll asked where you would buy a $380,000 investment property in Brisbane that showed a $400 per week rental return.
A third of our would-be investors chose a  two-bedroom apartment at Chermside (10 kilometres from Brisbane CBD) with a car; and a close 30% would pick a one-bedroom apartment at Albion (five kilometres from the CBD) with a car.
Some 16% would choose a four-bedroom house on 500 square metres of land at North Lakes, with two cars (25 kilometres from the CBD), while 14% would buy a three-bedroom townhouse at Carseldine, with a car (15 kilometres from the CBD).
Only 7% would consider a CBD one-bedder with no car.
<a target="_blank" href="https://www.surveymonkey.com/s/InfluenceMarket">This week’s poll question</a> asks what you think will influence the market the most over the next 12 months.  We’d love to know your thoughts.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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Aussie borrowers are emerging as winners, focusing on opportunity rather than risk: Michael Matusik

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So how can you tell if a market has turned the corner?
Market watchers will have their own theories on milestones that signal a change in the fortunes of the real estate market.  I, for one, think that Brisbane has turned a corner and is well-positioned on the property clock.
But why do I think this?  What measures am I using?  Well, here are my 10 market turn milestones.
<ol>
<li>Offers are made before a property goes “public”</li>
<li>Multiple offers are made – by different buyers – on the same property after listing</li>
<li>Properties start to sell above listed or reserve price</li>
<li>New properties start to sell above their resale value</li>
<li>Tightening vacancy rate and rising rents</li>
<li>The amount of established stock on the market falls</li>
<li>New housing supply falls below its long-term underlying demand</li>
<li>Job growth starts to accelerate</li>
<li>Sales volumes start to increase</li>
<li>The time resales remain on the market fall</li>
</ol>
Brisbane has nine out of 10.  Too early to call an upturn?  Maybe, but the signs are definitely there.  Of course, the proof in the pudding is a sustained rise in generic property prices.
Now, depending on which data set you believe, recent REIQ figures suggest that the Brisbane property market has turned that corner.  The median price in Brisbane rose 1.2% to $505,000 over the March quarter, according to the REIQ.
I have been helping a tradie mate to find a renovator’s delight somewhere across Brisbane’s inner- to middle-ring suburbs in recent weeks.  I am amazed at how quickly offers are being thrown at well-priced stock.  Many are received before the property hits the internet, the print media or even an agent’s window.  Properties are starting to sell before they even get officially listed.
This trend is also starting to happen in well-placed, well-designed and well-marketed new investment projects.  In inner Brisbane think Binary, Vivid and more recently Vine, to name a few.
According to Place advisory, there were 450 unconditional transactions during the first three months of this year – a historically quiet selling period – and this March quarter’s result was the strongest first quarter in over a decade.
And it appears to be going from strength to strength with Belise, in Bowen Hills, converting four out of every five walk-ins in recent months, with four sales alone last week, with another couple pending. Over 60 apartments have now sold in this proposed apartment complex since the beginning of the year.
According to Bees Nees City Realty, four out of their last five sales have had multiple offers submitted.  Other trusted realtors across the city are starting to report similar trends.
Also as I tweeted a few weeks back, I attended an auction run by Doug Disher Real Estate of a two-bedroom, unrenovated, post-war cottage in Brisbane’s St Lucia.  There were 17 registered bidders.  I mentioned to people present at the auction that it would sell for more than $725,000.  Many thought I was smoking something.  It sold under the hammer and in about ten minutes for $775,000, which was well above the reserve.
The timing of John McGrath’s arrival in Brisbane is no accident.  And Johnno is certainly no fool.
Brisbane’s vacancy rate now is just 1.5%, and rents rose by close to $20 across most residential rental properties across the city over the past 12 months.
The amount of resale stock on the Brisbane market has fallen by 8% since this time last year. And the city is undersupplied when it comes to new housing stock.  We are currently building about 90% of what we really need.
Of late, there has been much press about a pending oversupply of new apartments across inner Brisbane.  Now, while we have lots of new mooted apartment development, the fact remains that not enough new product is actually being built.  Over the last five years, for example, 13,000 new dwellings were required to accommodate the population growth, yet – based on the official statistics – just 8,017 new dwellings were approved.  Last year, just 1,902 new dwellings were approved.  At present there is a serious shortfall.
In addition, the latest ABS figures show that 22,000 full-time jobs were created across Queensland last year, and about half of them are in Brisbane.
Sales are now starting to improve, especially for apartment and townhouse stock, with sales up about 11% on last quarter.  Affordable apartment sales have lifted even further, up 22% in during the first part of this year.
What’s missing is a reduction in the time resale property remains on the market.
The average Brisbane resale property now takes 132 days (just over four months) to sell.  This is up from 105 days this time last year, or about a month longer (27 days).  However, this increase is in line with the Australian capital city average.
Now, why aren’t sales picking up or the time needed to sell falling?
For mine, most home buyers aren’t that confident.  While many that we speak to believe that the Brisbane market has bottomed, they can’t help being tempted to wait just in case prices fall a bit more.  On one hand, they want <a href="https://www.debtdeflation.com/blogs/" target="_blank">Steve Keen</a> to be kinda right, but on the other they believe in Michael Matusik, Terry Ryder, Michael Yardney et al.  So they are waiting in the wings, so to speak.
Also, another truism is that low offers are rare.  Yes, APM reports that the average private treaty discount for Brisbane is 8.5%, but experienced agents report that agreed contract prices average under 3% for well-priced property across Brisbane.
Buyers are reluctant to invest themselves emotionally (nor will they spend their time) on a property that is (in their minds) not realistically priced.  If a property is listed too high, buyers will simply move on to the next listing.  The internet allows this to happen with ease.
One of the real issues facing the Brisbane residential market (and elsewhere, too) is that too many sellers are unrealistic and also aren’t prepared to market their property properly.  Many should take their homes off the market or reduce their asking price.
Dropping the price can open up a strong market response, especially when the “market turned” signals are getting stronger.  Even in a buyer’s market, buyers will compete for a property they want, and price these days is a major part of that “want”.
And yet, in spite of an excellent position, good value for money and redevelopment potential, certain properties just aren’t selling. Curious, indeed.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a href="https://www.matusik.com.au/" target="_blank"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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The 10 signs investors should watch for of property market recovery

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Well, here is some more good economic news.  Henny Penny doesn’t know which way to run!
Australia’s economy grew much faster than forecast, up 1.3% during the March quarter.  On an annual basis, our economy is growing by 4.3%, again much faster than 3.3% market forecasts.
Remember, this is historical data but it does cover a period of weakening commodity prices, falls in mining profits and weak demand in some sectors of the domestic economy.  It also covers the natural disasters – and yes, they did have an impact – but our little Aussie engine was running much better than it sounded.  This helps explain the recent fall in our jobless rate to 4.9%.
It is also more than mining that has helped our economy grow.  What the eggheads call “non-farm GDP” grew by 1.2%, which points to more a buoyant domestic economy than most realise.  Household savings also remain high at 9.3%.
Also, farmers out there have had lots of rain – which is often problematic in the short term, but is great news and provides serious economic support into the future.  Too few make comment about the farmers’ impact on our economy these days.  Wet is good, dry bad – it isn’t that hard to remember.
So, was Tuesday’s interest rate decision a wise one?  For mine, as noted, the RBA should have cut by 0.5 percentage points.  Remember, the RBA cut the official rate because of concerns about the international situation and the inflation outlook (at present) is benign.
Further interest rates cuts (given the 0.25-percentage-point official drop) might occur, but they won’t now be due to our domestic economy but because of further crises in the eurozone.
A 50-basis-point drop would have boosted local confidence and allowed the majors to pass on a meaningful drop to mortgage holders, and especially small business owners.  But for mine, structural reform is more important – given how low interest rates already are – than monetary easing, and sadly there is no sign of any relevant action.
As I have noted, much more needs to be done to kick-start new housing than just dropping interest rates.  Structural reform, not cyclical tinkering, is urgently needed.   Housing isn’t the only engine that desperately needs a major overhaul.
Australia’s structural problems require welfare, tax, regulatory and IR reform.  Further interest rate cuts might happen, but there is a real risk of putting the monetary policy cart before the structural reform horse.
Roll on the next federal election – and we must hope for a government seriously interested in economic reform.
And despite the current absolute economic incompetence, the ABS’s latest quarterly health check on corporate Australia found that although profits were down, sales, inventory and wages all grew at a reasonable rate during the first three months of this year.  In fact, we are creaming most of the world.
Australia’s annual growth pace of 4.3% compares with 1.9% in the USA; a zero to negative result in the eurozone; a 0.1% contraction in the UK (and I thought it was just the crappy music at the Queen’s Diamond Jubilee that was putting the pucker on Her Majesty’s face) and 2.6% growth (yes growth) in Japan.  China is currently growing at 8.1% and India by 5.3%.
In short, Australia is a country that barely understands, let alone appreciates, its own luck.
Being so close to good fortune can often make one blind to it.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a target="_blank" href="https://www.matusik.com.au/"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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Henny Penny doesn’t know which way to run in the face of good economic news

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Despite yesterday’s media headlines to the contrary, the world didn’t end.  I am still breathing.  How about you?
So instead of Armageddon; Europocalypse; Death by Keen or something similar, we all seem to get by.  The Henny Pennys seem to have survived the farmer’s axe once again, only to live another day of worry.  Yesterday’s lacklustre 0.25 percentage point cut in the cash rate will no doubt have them all in a spin.
Well, stuff them all – today is something special.  It is an opportunity to take some time to reflect; an early New Year’s Day so to speak.
Today, for most Australians the Transit of Venus will be visible with Venus appearing as a black spot moving across the sun from 8.16am to 2.44pm.
Big deal?
Well it won’t be back until 2117 – yep, 105 years from now.  And just reflect for a few moments how much effort man used make to observe and measure this astronomical event – Captain Cook et al.
Today we have a free iPhone app to watch it, but somehow that isn’t the same as gazing upwards in wonder about where we, and it, are all going.
We humans seem to underestimate the good things and overvalue the utter rubbish.  And what we spend much of our time on these days, for mine, is increasingly plain bunkum.
So in this frame of mind – even more delicious given it is mid-week and all – here are my anti-bunkum things.
Rating agencies
Isn’t it about time that the real world turned its back on the self-serving, hypocritical, attention-grabbing, politically motivated vacuum heads called ratings agencies: Standard and Poor’s, Moody’s and Fitch?
Surely, there must be some other source of advice of this nature available from less biased, conflicted and publicly discredited sources than these, who often seem to be at the centre of conflagrations of their own making.
Daily and even monthly indexes
Top of the list is house prices.  Prices-schmices.  What is the fascination with regular property price indices? Give it a rest guys, you need to be in it for the long haul.  Frankly it is all just white noise.
And in fact, what is measured is also plain bunkum.  The median or average price – regardless of when or how frequently it is measured, or on what geographic scale – will have no bearing on what your property is worth or how much you should pay.
Reality TV
I mean come on!  Reality my backside, what with five camera angles; metal screws in Bear’s handmade bamboo ladder; planning a meal in five seconds after being told the two key ingredients, etc.  And everyone in the house watching it on their own plasma, computer or Apple TV.
Give me a board game any day of the week.  Or better still, a good book, although I am quite partial to Seinfeld &amp; NYPD Blue re-runs – and I could re-watch The West Wing series anytime.
But if you are going to watch something on the idiot box, get everyone at home involved.  Whatever happened to the Sunday night family movie?
Air-conditioning
Oh, what crap it is.  Yes, it helped make Singapore and other Asian centres what they are today, and helps make living in the tropics more bearable.  True, too, it creates white noise – the good kind this time – to help one live downtown.
But give me a fireplace in winter and a big hat over my house (overhang for those youngins who haven’t seen an eave) in summer.  In fact, a fire makes a bloody good replacement for the TV too.  Nature’s own entertainment and a friend in the bush.  Oh, how far we have strayed from the things that are really important, well at least from what many older boomers commute halfway around the country for.  They might be onto something there.
Modern cuisine
Fancy food, lots of silly names and service as “cold as Christmas” as the saying goes.  Give me a home-cooked meal like Mum still makes, and dish me up some decent service, a smile and a whole lot of personality and I will be back with my family and friends every time.
And when at home, the simple meals are often the best – toasted cheese sandwiches; home-made pizzas on the Weber; eggs (with Belle’s bacon of course) on toast; tomato soup with crusty bread – and all hassle free, everyone relaxed and eating together.  And yes, even in front of that elusive Sunday movie on TV.
Modern living
I am an analogue man.  Joe Walsh’s new album out later this week – just two sleeps left Australia – is titled such.  Yes, I use Apple everything but not all the time.  When I get home – it helps when the actual service at home is lousy – it is everything off until the next day.
Why not take a bath, have an afternoon nap (and on both Saturday and Sunday) or sit in the sun for a good while every now and then?  Go see your adult children rather than Skype or text them.  What is all the rush about?
Yes, I know it is easier said than done but what, if anything these days is the Transit of Venus actually good for?
iTunes
Now we are getting on some shaky ground here.  Moving into some bloody murky waters, Michael, given the amount of music I download from Apple.  But I never download a single, always the whole album.  In fact I don’t like the term album – music, as Jackson Browne often discusses on stage, is a record – a record of events of that time or place.  Good records resonate with many listeners; great records resonate deeply with you.
I often listen to Born to Run; Late for the Sky; Blue Valentine or Bella Donna, to name just a few, in their entirety; almost always by myself, in the quiet and often in the bath.  Candles glowing and incense burning if you must know.  Right now I am quite into lemongrass stink sticks.
Gutless
Yes, I am talking to you, Anonymous.  Bloggers who aren’t prepared to give their full name when replying get treated as spam on my blog.  Have the guts to stand by your convictions.  All we have, when it is said and done, is our name.
In an increasingly post, post, post-modern world showing one’s face is a rare thing.                                                        You of course have your own list.  And if you don’t maybe today might be a good one to start one.
As you read this blog this morning, I won’t be rushing to work.  This Transit of Venus will be my last and I won’t be wasting it.
So it’s goggles on folks and look up at your own peril, and don’t complain to me if you find what you are looking for.
Michael Matusik is the director of independent property advisory Matusik Property Insights. Michael is a 25-year veteran in the industry and his firm has helped over 550 new residential developments come to fruition. Michael has launched a new initiative, called<a target="_blank" href="https://www.matusik.com.au/"> Think Matusik</a>. Think Matusik brings together expert opinion and select property opportunities.
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S&P, Moody’s and Fitch self-serving, attention-grabbing vacuum heads

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

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

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

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

Michael Matusik

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