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Urban: Sourcecorp is the distributor of Fibo panels in Australia. Fibo is founded in Norway and supplies interlocking Waterproof Wall Panels throughout Northern Europe, Great Britain and North America. When bringing Fibo into Australia, what were some of the issues of concern (e.g. climate) when considering Fibo’s suitability for Australian consumers?

Martin: Our assessment of Fibo was managed in the same way as every other product we import.  Prior to launching Fibo in Australia, Sourcecorp had imported wall lining products from China and the United Kingdom.  In particular, Sourcecorp had acted as the representative of another waterproof wall panel product sourced from Scotland.  After visiting the Fibo facility in Lyngdal, Southern Norway, and reviewing the extensive body of testing the company had undertaken we quickly decided to change suppliers.  Not that the previous waterproof product was of poor quality, it is simply our belief that Fibo is a superior manufacturer with a greater commitment to quality assurance processes.  This was not only shown by the array of tests completed but also the accreditations that Fibo had received.  To top this off, we have had Fibo tested against <a href="/news/oliver-steele-of-steele-associates-discusses-australian-building-codes-apartment-design">Australian Standards</a> as required under the <a href="/news/australia-called-we-want-our-building-codes-updated-and-regulated">Building Code of Australia</a> and ultimately the Fibo System has been CodeMark Australia certified by Bureau Veritas.  This proves that Fibo is suitable as a waterproof system under Australian conditions.  The CodeMark certification also indicates any limitations to the product’s use.  The significantly cheaper supply price was the cream on the cake.

It can be challenging to find products that are suitable across Australia due to the varying building code requirements and diverse climates.  While Sourcecorp has not as yet installed Fibo in northern Australian regions, there have been many cases of the product being used in a broad range of climates from the freezing Arctic to the balmy Southern USA.  The one area that we know we must always pay great attention is to installation.  Sourcecorp is growing its base of experienced Fibo installers with hands-on support.  With any building material, we know that a product or system is only as good as its last installation.

Urban: Ever since introducing Fibo to Australian households, has there been any significant changes in terms of consumers’ preferences? What has been the response?

Martin: Most bathrooms do not receive much in the way of natural light, so in these spaces designers predominantly employ lighter decors, particularly white to create a sense of volume and a clean crisp look.  This is most important in laundries, ensuites and bathrooms.  Often when wishing to add a personal touch many customers add a feature wall, which adds a dramatic designer feel to any room.  While Sourcecorp does stock Fibo in Australia, it is not currently practical to hold the entire range of over 500 different product lines.  Unstocked lines are ordered with Sourcecorp’s regular shipments and take between 10 – 15 weeks to arrive - subject to volume and décor type. In most cases we first start talking to clients while they are planning their works which gives us time to import any line the client wants from the Fibo range.  This is generally the case for commercial projects. 

We find the response to Fibo improves dramatically once a potential customer or architect has seen an installation and touched the product.  We encourage interested parties to visit our Collingwood (Victoria) showroom for this purpose.  Having said that, if a potential sale warrants it, we are prepared to travel.  

Without doubt many customers are attracted to Fibo because it is a grout-free system.  The benefits are obvious.  This is particularly important within commercial buildings that are subject to rigorous, frequent cleaning.  Fibo cuts cleaning costs and also reduces the impact of harmful cleaning agents on their cleaning staff and the environment.

Urban: Homebuyers today are more inclined to go for <a href="/guides/20-simple-changes-around-the-home-to-reduce-your-environmental-impact">eco-friendly</a> and sustainable materials because they see it as a long term investment. How does the design and function of Fibo suit this demand?

Martin: Fibo is made of plywood sandwiched between the backing and decorative facing layers of high pressure laminate.  Fibo is a wholly sustainable product that both stores carbon and has very low embodied energy caused by its production and transportation.  To illustrate this credential, when compared to ceramic wall tiles an equivalent Fibo installation weighs about 25% per sq metre.  That represents significant reductions in transportation emissions at the beginning and end of life of the product. 

Fibo sources all of its raw materials responsibly and is certified under the PEFC (Programme for the Endorsement of Forest Certification), which is known as ‘<a href="/news/6-of-australia-s-top-sustainable-architectural-design-trends">Responsible Wood’ in Australia</a>.  Further Fibo has subjected its products to independent audits in preparing an Environmental Product Declaration (EPD), which is an objective scientific assessment of the environmental impact of the product from sourcing raw materials to end of life management. Finally, because the panels are easily cleaned there is less need for chemical cleaning agents, which reduces downstream damage to our water treatment systems.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/8056_stn_lentini_dark_restuarant_washup.jpg" rel="gallery-all" title="Image supplied."><img alt="" class="image-article-full-width-580px" height="387" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/8056_stn_lentini_dark_restuarant_washup.jpg?itok=fuBxsZfr" title="Image supplied." width="580"></a>

<figcaption>Image supplied.</figcaption></figure>Urban: What are some of the measures that Sourcecorp has taken to ensure that its products (e.g. wall panels, aluminium windows etc.) meet the preference of its customers in terms of sustainable design?

Martin: We have always subjected our products to independent scrutiny so we are clear about the performance of the materials we supply.  The key for Sourcecorp is to thoroughly understand a client’s requirements and match product that is certifiably fit for the intended purpose.

Urban: <a href="/expert-insights/buying/covid-19-a-little-bit-of-positivity-goes-a-long-way">Has COVID-19</a> affected the condition of building materials that Sourcecop has? How do you think this will shape your industry?

Martin: In 2020 we expect to see a greater percentage of Government works as part of economic stimulus initiatives.  Private works that have already commenced will continue to completion, however we do expect there to be a general contraction in private work as banks and property developers reassess property valuations.  This will almost certainly lead to less private enquiries as projects are postponed.  The emergence of the off-site (Modular) construction industry may benefit from covid-19, whereby the shutdown and need for social distancing may be a catalyst for works to move to a system that reduces congestion on building sites.

More regular cleaning and sanitising routines may result in commercial building managers looking for products that have lower maintenance costs.  We expect that industries such as tourism and hospitality to be heavily affected for at least another two years.
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Nick Dante

Urban's Q&A with Martin Vana from Source Corp Victoria

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With markets firming in many locations around the nation, some novice homebuyers and investors are searching for properties with low price points. 
Unfortunately, this often means they are selecting properties and locations purely because they “seem” affordable to them. 
In reality, often this means they wind up with an inferior property in a second-class location that will always be cheap. That’s because there are big differences between cheap and <a href="/news/city-of-melbourne-adopts-policy-for-mandatory-inclusionary-zoning-as-mechanism-to-deliver-affordable-housing">affordable properties</a>. 

Here are three ways to differentiate between the two. 

Cheap will always be cheap 

When a property is listed for sale at a price far below the norm in a particular location it is usually because there is something wrong with it. 
Now this could be that it has significant structural problems, which sometimes can be remedied. 
Most of the time, though, it’s because its location is a bit on the nose – meaning on a noisy main road, next to a train line, amongst an abundance of housing commission homes, or perhaps even abutting a petrol station. 
While you can generally remedy dwelling problems, if not too significant, you can never change the physical position of the block of land that it sits on, which will always have a negative impact on its price. 

Affordable price – for now 

The number one reason why a property can be classified as affordable is generally because its market is the same way. This doesn’t mean that it will stay that way forever. 
In fact, its market has all of the fundamentals that will likely see prices growth strongly over the medium- to long-term. These capital growth signposts include such things as a strengthening local economy with jobs growth, gentrification, <a href="/developments">major infrastructure, population growth</a> as well as more demand than supply. 
At present, specific locations within Greater <a href="/news/brisbanes-8-future-tallest-skyscrapers">Brisbane</a> are firmly in this basket in my opinion. One of the other reasons why property prices are affordable is because their price points are vastly below the “norm” in Sydney and Melbourne, yet wages are not that different. Of course, that is one of the reasons why hundreds of people are currently migrating away from southern capitals to the Sunshine State capital.  

Good suburb, bad pocket 

To make differentiating a cheap property from an affordable one even more tricky for the uneducated is the fact that they can both exist in the same suburb. 
A particular street, or streets, may be seen as more desirable than others, perhaps because houses have been renovated or they are within particular school zones. 
Houses in these locations, therefore, are affordable to the people who want to live there, which helps to drive prices higher. 
Conversely, there could pockets not far away that have properties priced for hundreds of thousands of dollars less. 
Novice buyers and investors falsely presume that being <a href="/buildings/nbh-at-lachlan-s-line-25-27-epping-road-macquarie-park">relatively close to the suburb’s “glitter strip”</a> will result in their property rising in value to the same degree. This is unlikely to happen, especially if their pocket is a bit “warty”, such as having excessive traffic noise, it falls outside a well-regarded public school zone, or it falls within a zone that has been earmarked for future transport infrastructure. 
Expert buyers agents understand their investment locations intimately and know the good pockets from the bad. 
They understand that while dwellings can be updated, its physical location within in a suburb will be the main difference between inferior or superior capital growth in the years ahead.
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Do you know the difference between cheap and affordable property?

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In the current <a href="/expert-insights/buying/covid-19-and-the-pathway-forward-for-property">Covid-19 market</a>, there has been an increase of ‘off-market’ listings and for any buyer there are some key steps every buyer should know when purchasing a property off-market.

‘Off-market’ listings or ‘quiet’ listings are those properties that are not publicly advertised but are genuinely for sale. Some vendors choose this method for a number of reasons:

<ul>
<li>They don’t like the auction process</li>
	<li>They don’t want their neighbours to know they are selling</li>
	<li>They are not pressured in a timeframe and keen to seeking market’s interest &amp; only if a buyer offers the right price then they’ll sell</li>
	<li>They don’t want to spend on expensive public advertising campaigns with the uncertainty of whether it will sell or not.</li>
</ul>
There are a number of steps you should consider to be successful when purchasing a property that is being offered ‘off-market’ but firstly, let’s look at where you can <a href="/guides">find off-market properties</a> for sale in your local area.

Getting access to these properties in the past required buyers to either hire an expensive buyers agent (charge a fee c2% of property sales price) or contact all the real estate agents in their local area. This requires building a relationship with real estate agents, letting them know you are looking to buy a property and the requirements you want to be matched with and ask them to put you on their agent database to be alerted when a suitable property comes up. 

Even doing all this does not guarantee a new buyer will be notified as agents will generally prioritise their longstanding buyer customers.

This approach is time-consuming and many buyers are missing out on finding a property to buy. 

Today there are new platforms created such as Property Whispers giving buyers access to off-market properties for sale and matches are delivered straight to your inbox.

So once you’ve been notified of an off-market property available in your area and you’ve spoken to the real estate agent about, there a number of key steps you need to take prior to making an offer to purchase.

<ul>
<li>Write down a list of ‘must-haves’ &amp; ‘wish list’. Your ‘<a href="/guides/5-tips-every-first-home-buyer-needs-to-know">must-haves</a>’ list is your non-negotiable list  - price, features and attributes you won’t compromise on. An example of features &amp; attributes you might not compromise on could be the lounge area must be very light or there must be abundant storage cupboards or room to add storage, and the kitchen and bathroom must be newly renovated. Or it may be that you only want a quiet street with little traffic. 
	Your ‘wish list’ you are more flexible with. Whilst the features &amp; attributes on this list are things you’d like to have, if they were not available you could do without or be open to make changes to the property, if you love something else about the property more. For example you love the renovation of the property, it ticks all the boxes in space, light, finishes but it doesn’t have a swimming pool which you’d like. You’d be happy to forgo this as it has the space for one which you could build later on.</li>
	<li>Arrange a private appointment to view the property. In many cases the property will not have been styled by a professional stylist so if you don’t like their furniture don’t be put off by that, just try and visualise your own furniture in the space you are looking at.  
	If you like the property &amp; would like to view it again at a different time or need to show your partner or family members ask the real estate agent to arrange another private inspection. It is important to show the agent that you are interested without committing to anything yet. The agent always refers back to their vendor after every inspection so you want to show some interest.</li>
</ul>
If the property ticks all the boxes then you need to do your due diligence to ensure that there are no hidden surprises. You need to ask the real estate agent for the following:

<ul>
<li>A copy of the Contract For Sale which you will need a qualified conveyancer or lawyer to review &amp; advise you of any issues.</li>
	<li>Permission to arrange a building &amp; pest inspector to provide you with a building &amp; pest report can be also be done now or at a later date prior to signing a contract.</li>
</ul>
The real estate agent will most probably ask your opinion on price. Don’t feel pressured to offer any price until you are ready. However be sure that you are comfortable with the price range that the agent is telling you. In an off-market scenario where there is little competition you can be in a good position to own the property if you are comfortable in that price range. 

Once your legal advisor has reviewed the contract &amp; there are no issues you are in a position to make an offer on the <a href="/developments/melbourne-vic">property</a>. 

An offer includes three things: 

<ul>
<li>Price you are willing to pay for the property, </li>
	<li>Deposit amount (usually 10% of the purchase price) </li>
	<li>Settlement terms (the date you are willing to pay for the balance of the property).</li>
</ul>
Your offer is then taken to the vendor for their consideration. There may be some negotiation required to get to a mutually agreeable price. If you are not comfortable with the negotiation process then it’s best to find someone who can assist you with this process.

Once your offer is accepted you will then be required to sign the contract and attach the deposit cheque. The vendor will then sign their copy of the contract &amp; contracts are then exchanged. Congratulations, you’ve now purchased the property.

Article written by: <a href="https://propertywhispers.com.au/">https://propertywhispers.com.au/</a>

<h2>Recently added properties:</h2>

[smartcode_project:default project_id=2929]

[smartcode_project:default project_id=29358]

[smartcode_project:default project_id=24323]
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5 Key tips to buying an 'off-market' property

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Recently, Urban sat down with Idle Wealth Director Torey Hensel to discuss the current position of the Australian property market and how it’ll fare in the near future. 

Urban [U]: What are the best ways to spot opportunities for investing in property in a post-COVID-19 world?

Tory Hensel [TH]: Pretty simply, I’d say stick with the research fundamentals starting with the top down. Property has always been about identifying opportunities within a supply and demand framework, and the period we are going through at the moment is just adding another variable to that equation. 

It is important to understand that variable as best as possible and understand the impacts that COVID-19 is going to have on the different property markets within Australia. Obviously, this virus is not going to affect what is a 7-trillion dollar property industry in the same way across the board. So, in terms of what to look for, we are targeting properties and locations that will likely avoid most of the negative effects of COVID-19 but benefit from the recovery. So, areas that:

<ul>
<li>Have a slightly older demographic, where the majority of young professionals aren’t highly exposed to hospitality and recreation jobs, i.e. the ones who have been hardest hit from the last few months; </li>
	<li>Staying away from areas that are experiencing a flood of new rentals coming on to the market from AirBnB hosts converting their short-term accommodation into long term rentals;</li>
	<li>Locations that are in close proximity to proposed large public and private infrastructure projects that are yet to get off the ground.</li>
</ul>
With the latest figures of over 600,000 job losses and $230 billion COVID-19 bill, the government would want to rectify that as soon as possible, and the best way for them to do so is with the approval of large-scale infrastructure projects. Counterintuitively, the best way for the government to make up on deficits is to spend money creating jobs, which will, in turn, see more people off JobSeeker, free up income for discretionary spending, retail will pick up, inflation speeds up, and the government will reap the rewards in the form of taxes.

Projects that were waiting for a tag to clear might just get a green light across the board and the property market in direct proximity to these projects will be the beneficiaries. So, keep your eyes on the priority development areas.

U: How has Idle Wealth been providing support for clients who are impacted by COVID-19? 

TH: One of the most difficult and frustrating aspects of this pandemic — from the standpoint of investors, at least — has been the murkiness of policies from the government and hyperbolic clickbait headline-grabbing that we see in the media. It has been very difficult to pin down exactly what the policies have been, what the data is actually telling us about the property market, and what the path forward is going to look like.

I think the greatest value that we have been able to bring to our client base is the clear communication of government policy and the facts around the current market performance as we ascertain them. The majority of our clients are not on the rich list; they are mums and dads trying to build a foundation of wealth for their retirement. To be honest, we haven’t seen much protection of them in the media nor in the government, and I feel that it is our responsibility to represent the voices of investors who are also hurting during this time.

U: In Idle Wealth’s latest property update video about COVID-19, it was mentioned that Australia’s property market has a history of performing well during global financial crises. Do you think that Australia’s resilience will re-emerge this time around? If yes, will this resilience attract more international buyers?

TH: I think the Australian market has already shown a significant level of resilience to the economic effects of the virus and I think it is worth unpacking why this has been the case. History, as the question states, the Australian property market does have a history of performing well through global financial crises, and I outlined some of those periods in my latest <a href="/news/how-to-ride-the-covid-19-wave-the-ultimate-developer-survival-kit">COVID-19 video</a>, which you can check out on my Instagram, @IdleWealth.

The same reasons property has held up well in the past will hold true in this case. Our economy was in a great position before all this happened. I am optimistic that the additional variables of the government’s economic stimulus and debt holidays for those who are in financial hardship will mean that the number of hardship-induced sales will be far lower than in comparable economic downturns, thus reducing the risk of a crash that the usual suspects have been predicting for twenty years.

As for international buyers, Australia already has a very appealing and economically diverse property market. Add in the extra variables of our positive national response and handling of the crisis, I think that can only improve buyer sentiment and confidence. Another possible reason that property has been so resilient through this time is that the hardest hit areas, and the most affected, younger generations — the waiters or waitresses, bar staff, arts and [recreational job] workers, air hostesses, retail workers — are not your typical homeowners or investors. Though this might have a flow-on effect, widening the wealth gap between boomers and millennials, it does somewhat insulate the property market from the dramatic unemployment spike that we are currently seeing.

U: Since the nationwide lockdown there has been a surge of online visits to <a href="/guides">off-the-plan property listings</a>. When the pandemic is over, to what extent do you think that these online enquiries will translate into real life?

TH: It’s difficult to say. What the data is showing at the moment is a large increase in online searches, but these searches are not spread out evenly across the board. For example, there has been a five to eight times increase in search volumes for the more premium suburbs in Brisbane, <a href="/developments/sydney-nsw">Sydney</a> and Melbourne. But there has been a decrease in search results for areas about 30-40km radius from the CBDs.

Another factor is how do you determine how many of those visits were serious buyers versus people shopping around at home because they are bored at home and have nothing to do? With no physical inspections over the last month, it is unsurprising to me that there has been an increase in online traffic. What is going to determine how many of those visits and enquiries translate into real life will be a combination of the confidence in the market as the restrictions are removed, and how quickly jobs will recover on the other side of COVID-19. 

U: As per your Australian property update in April, how much longer do you think things will get worse before they get better?

TH: Again, referencing my last COVID-29 video update, what the future holds for the Australian property market really depends on a few key events or scenarios playing out over the next few months. The worst-case scenario, as restrictions ease and people get back to some form of normalcy, is a second wave of the virus, forcing another government shutdown. If this does happen, I think there will be a much more severe impact than we’ve seen so far: with many businesses that are just on the brink at the moment unable to cope with yet another hit at their back pocket. On the other side of the spectrum, if restrictions are lifted successfully — as they have been so far — and we continue to get back on our feet as a country, positive growth in the last quarter of 2020 would not come as a surprise.

U: What do you think will happen to residential property prices in the near future?

TH: It is still too early to say exactly what is going to happen over the coming months, and there will likely be varying outcomes in different markets across Australia. But on a macro or national level, there are a number of variables that we still need to consider. There is a possible second wave of the virus, as I mentioned, keeping buyers and sellers cautious. Banks are tightening up lending due to the uncertainty, which, historically, will have a negative impact on price growth. Low migration numbers will definitely impact population growth, and this will likely have a flow-on effect to the lower end, up-and-coming suburbs. We’ve seen so far, and we will continue to see, strong performance around the median price points of higher grade suburbs that offer a mix of location, land scarcity, and owner-occupier appeal.

Again, this is where we are focusing the majority of our attention: vacancy rates, particularly in inner-city Melbourne and Sydney, will be heavily impacted over the short term with (a) a flood of <a href="/news/airbnb-plans-to-help-house-100000-covid-19-responders">AirBnB properties</a> coming onto the long-term rental market, and (b) the exposure that those locations have to the most affected younger workers who make up the majority of tenants. 
To finish on a positive note, with all-time low-interest rates, investors at the moment are able to find cash flow-positive properties in areas where it was impossible to find five years ago. We are seeing a number of people with very healthy retirement balances moving their money out of shares and into a property, seeking a more stable asset class which, from a supply and demand point of view, will provide yet another buffer, reducing any sort of dramatic market fallout.
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Q&A: Urban sits down with Idle Wealth Director Torey Hensel to discuss the current position of the Australian property market

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The time has finally arrived. You’ve been saving for years for the <a href="/guides/5-tips-every-first-home-buyer-needs-to-know">deposit for a home</a> and one day you think “I’ve got there”.

Well before this time you’ve no doubt been looking at localities, services and types of homes and neighbourhoods you like. You may have already inspected a few places knowing that the day was coming closer when you could buy. You may also have started to research which home loan to apply for, interest rates, fees, terms and conditions.

But you may have forgotten one important thing which I encourage everyone to do today; work out the likelihood of your credit application being approved before you face disappointment.

Credit criteria are very tough right now and if you want to get the best interest rate you will need to do some homework on your credit files.

I’m not just talking about your credit score. I’m talking about getting copies of your complete credit file from Equifax, Illion and Experian. And if you are a director of a company, getting those credit files too.

I’m talking about comparing the credit files when you receive them knowing that any prospective lender will be assessing the entire picture and taking into account the worst case scenario.

<a href="/guides/2019/06/17/urbans-first-home-buyer-guide">Things to look for are:</a>

<ul>
<li>High interest (risk) loans you’ve applied for in the past (payday or fast cash loans lower your score)</li>
	<li>Your shopping habits seen in the enquiries section of your credit file; does it look like you kept trying to get credit and failing because there are multiple similar applications made at a similar time? (more than 5 enquiries per year lowers your credit score)</li>
	<li>Any defaults and court judgments with paid or unpaid debt attached to them (both paid and unpaid defaults and judgments lower your credit score)</li>
	<li>Cross-linked credit files (lower your score because it looks like you have other identities)</li>
	<li>Any incorrect personal information</li>
	<li>Fraud (entries where you are sure you didn’t apply for particular credit)</li>
	<li>Amount of credit limits on your credit contracts and how close you are to maximum amounts</li>
</ul>
Your credit score is based on these factors, and others, and improvements can be made to your credit files if necessary, way before you apply for a home loan. Give yourself 6-12 months to improve your credit score before applying because getting a low interest loan can save you thousands in interest per year and make your life much easier.  

Ways to improve your credit score:

<ul>
<li>Pay down your credit contracts and close any that you can</li>
	<li>Stop shopping around for credit contracts. If you are rejected, stop and reassess you that might be the case</li>
	<li>Stop applying for high interest loans</li>
	<li>Stop using Zippay as it raises a red flag for lenders as they think you can’t afford to pay for what you want</li>
	<li>Write to the credit providers and ask them to prove they placed your default correctly</li>
	<li>Write to the credit reporting agencies and ask them to correct your personal information</li>
	<li>Negotiate with the plaintiff who put a judgment on your credit file, to remove it</li>
</ul>
There are also ethical companies who specialise in erasing incorrect data from credit files. Shop around for one you can trust and get your credit files into tip top shape so <a href="/guides">your home loan</a> has the best chance of being approved.
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Assess your credit files long before applying for finance for your dream home

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We are now over 8 weeks into the “new normal'' and agents across the country have pivoted using online platforms for auctions, virtual platforms for routine inspections, virtual tours for vacant properties, balancing working from home and home schooling.

We are now back out conducting opens and on-site auctions with restricted numbers adhering to social distancing rules and the ever-present hand sanitizer.

We have dealt with the first wave of rent reductions and in most cases come to a commercially sustainable agreement between the parties.

Agents have communicated to clients – investors and tenants all the legislation changes, what it means for them, and for any new investors or anyone taking up landlord insurance for the first time what the exclusions look like.

We are now starting to look at what will impact our <a href="/news/how-to-ride-the-covid-19-wave-the-ultimate-developer-survival-kit">rental market moving forward</a>, here are some of what is on my wall the moment:

<ul>
<li>Job keeper is to come to a close at the end of September, unless the Government changes their mind, when this occurs, tenants and investors are going to be impacted. Your property manager should be connecting now with tenants and investors to start discussing their current situation, will they be impacted by any changes to Job keeper and what options are available to ensure rent continues to be paid. </li>
	<li>It is likely that we will have higher vacancy rates which means that rental rates will be pushed down, do your numbers now and if your property is vacant during this time work out what is the minimum amount of rent you need to cover your costs.</li>
	<li>If your tenant's lease is ending over the next few months, renew the lease and don’t increase the rent, you are better off having a tenant in your property at the current rent rate than a vacant property which you may have to lease out for less than the rent you are getting now</li>
	<li>Be aggressive with your rent reductions if your property is vacant, get feedback from your property manager on what a competitive rate would be, sign on your tenants for longer than 12 months and build in a rent increase into the lease</li>
	<li>Invest in <a href="/expert-insights/buying/the-future-of-the-australian-property-market-post-covid-19-according-to-icd-propertys-sal-quah">virtual tours on vacant properties</a>, our data tells us that on all of our properties people are spending longer on virtual tours before they attend openings.</li>
	<li>Find out from your agent if they have invested in the latest technology, have they provided you and the tenant with an app to track your tenancy, to pay rent, to report maintenance. Moving forward people want to connect technology that enables them to report issues and have them dealt with quickly</li>
</ul>
This is a time for agents, tenants and owners to work together to get the best commercially viable outcome for all parties.
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The new normal in real estate, the impacts moving forward.

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We need our space, and if a time period has proven this more than ever it is now. This period of change has proved that open space is critical to the functioning of our society, even when everything else is shut down. 

In Melbourne, Councils are taking differing approaches to open space strategies, but are all prioritising it and looking towards growth and improvement of available open space for the public. 

Associated with open space in communities is the obvious physical benefits of exercise, both individual and group.  However, there are also social benefits by providing a space for meetings, picnics, gatherings with families and friends and the proven mental health benefits of leisure, mental development and connection with nature, as well as the life-giving effects of fresh air and sunshine.

Green open space also mitigates the impact of the <a href="/news/urban-heat-island-effect-whats-that">Urban Heat Island effect</a>, and as we are faced with steadily rising temperatures, green space will be able to provide some relief to the absorption of heat in urban areas. 

Urban Heat Island is the effect where the abundance of paved surfaces in urban area absorbs heat throughout the day and holds the heat much longer than green permeable surfaces. At night when the temperature drops, the heat is trapped in the city from the buildings and surfaces that are still radiating heat. As a result, metropolitan areas have temperatures 1-3 degrees Celsius hotter than rural areas.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-27_at_1.49.57_pm_0.png" rel="gallery-all" title="Urban Heat Island and Open Space Diagram. Image credit: [City of Melbourne]"><img alt="" class="image-article-full-width-580px" height="329" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-27_at_1.49.57_pm_0.png?itok=z-MF6pT6" title="Urban Heat Island and Open Space Diagram. Image credit: [City of Melbourne]" width="580"></a>

<figcaption>Urban Heat Island and Open Space Diagram. Image credit: [City of Melbourne]</figcaption></figure> 

As the image above indicates, more open space aids in providing cooler spaces throughout the day and also helps cool the city at night through evapotranspiration. 

The provision and management of open space is a critical part of local government area strategies. In response to this time, I’ve looked back on three inner-city Melbourne local government areas and their Open Space Strategies to see what has been prioritised. 

City of Melbourne

<a href="/news/city-of-melbourne-adopts-policy-for-mandatory-inclusionary-zoning-as-mechanism-to-deliver-affordable-housing">The City of Melbourne</a> is blessed with several large parks and open spaces, some of which attract tourist and locals in large numbers. As part of the Open Space Strategy – Planning for Future Growth, there is focus on improving existing parks and creates links of open space as part of a greater open space network throughout the local government area. 

New open spaces both major and smaller are planned in areas that are outside the 300m-500m walkable open space network (10-minute walk). Identified gaps are prevalent in the West, which are areas that will be experiencing planned urban renewal. These areas include Flemington, Kensington, <a href="/developments/north-melbourne-vic-3051">North Melbourne</a> and Docklands which have been targeted for major open spaces and improved corridors and links. 

Urban Renewal Areas provide opportunities to increase the amount of open space in the vicinity in tandem with urban renewal development example include Fisherman’s Bend and Arden and Macaulay. 

There are also smaller open spaces proposed all around the precinct varying from 0.3 hectares to 1 hectare, providing more open spaces of smaller sizes dotted around the precinct to ensure all residents can walk to an open space regardless of size. 

The strategy has already surged ahead with commencement two open space projects, the Southbank Boulevard and Dodds Street open space corridor and the University Square transformation.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-27_at_1.51.38_pm_0.png" rel="gallery-all" title="Carlton Gardens in the City of Melbourne. Image credit: [City of Melbourne] "><img alt="" class="image-article-full-width-580px" height="357" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-27_at_1.51.38_pm_0.png?itok=Cg7CX1HG" title="Carlton Gardens in the City of Melbourne. Image credit: [City of Melbourne] " width="580"></a>

<figcaption>Carlton Gardens in the City of Melbourne. Image credit: [City of Melbourne] </figcaption></figure>Carlton, East Melbourne and Parkville do not have any existing walkable distance gaps and these areas represent a purposeful goal to strive towards for the whole of the City of Melbourne. 

City of Moreland

The City of Moreland has 839ha of open space in the local government area. The main goals of the Open Space Strategy 2012-2022 include:

<ul>
<li>Providing parks close to home </li>
	<li>Having a mix of open space types and experiences </li>
	<li>Making places for nature </li>
	<li>A greener more liveable Moreland </li>
	<li>Making the most of open space through effective management </li>
	<li>Enhancing participation and use of open space </li>
	<li>Development of network of shared trails. </li>
</ul>
Similar to the City of Melbourne, one of the main initiatives is striving to have parks and open spaces within <a href="/news/the-social-benefits-delivered-through-landscapes">500m walkable distance</a> and 300m in the densest residential areas. Moreland City Council has dubbed this the ‘A Park Close to Home’  plan and is actively purchasing land in areas that do not have open space within a walkable catchment area. Two new parks have already been unveiled.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-27_at_1.53.26_pm_0.png" rel="gallery-all" title="Artist illustration of Garrong Park on Tinning Street, Brunswick. Image Credit: [Craig Perry]"><img alt="" class="image-article-full-width-580px" height="407" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-27_at_1.53.26_pm_0.png?itok=9CbkBk-L" title="Artist illustration of Garrong Park on Tinning Street, Brunswick. Image Credit: [Craig Perry]" width="580"></a>

<figcaption>Artist illustration of Garrong Park on Tinning Street, Brunswick. Image Credit: [Craig Perry]</figcaption></figure> 

New parks on Tinning Street and Breese Street are in industrial locations, close to the train line, and are in transitional residential areas. Design, naming, and use of the parks has involved the community with resident consultation and important illustration correspondence from Brunswick North Primary. The Tinning street park is to be named Garrong in the Woi Wurrung Language meaning ‘Wattle,’ and the Breese street park is to be named Bulleke-bek, similarly in the local language, meaning Brunswick. 

A strong feature of the strategy is the acknowledgment of the different demographics across Moreland and providing open space that is appropriate to everyone. There are proposed improvements and additions to the open space network to suit both young and old users. Spaces that will allow everyone to benefit from contact with nature while providing an opportunity for social and family use, recreation, sport and more. 

If more people feel connected or included by provided open space it can result in residents utilising them more and being respectful and proud of those spaces. 

City of Darebin 

The City of Darebin Open Space Strategy Breathing Space focuses on protecting, enhancing and increasing open space in the precinct. The current access to green space is 19.6sqm per capita, which is below the goal for 30sqm per capita. 

The two main goals are quantity and quality. There is a focus on increasing the quantity of open space and the local government area is working towards the 500m walkable distance from homes. This requires the acquisition and transformation of land into open space, focusing on making connections to transport and existing space, and providing open space in high density or projected growth areas. This is similar between all three local government areas. 

The second focus is on the quality of open space, concerning maintenance, design, services and biodiversity. There is much thought put into ways of providing habitats and supporting local flora and fauna. There is an emphasis on rewilding Darebin by making indigenous bushland the default choice for planting in existing and proposed open spaces.  

The rewilding of Darebin has kicked off with a redeployment of 35 staff members impacted by Covid-19 to help plant 30,000 trees, plants and grasses. The rewilding aims to increase tree canopy and local biodiversity.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-27_at_1.56.02_pm_0.png" rel="gallery-all" title="Redeployed Darebin employees planting trees, plants and grasses to rewild the area. Image credit: [Darebin City Council]"><img alt="" class="image-article-full-width-580px" height="383" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-27_at_1.56.02_pm_0.png?itok=JNuc9Fqy" title="Redeployed Darebin employees planting trees, plants and grasses to rewild the area. Image credit: [Darebin City Council]" width="580"></a>

<figcaption>Redeployed Darebin employees planting trees, plants and grasses to rewild the area. Image credit: [Darebin City Council]</figcaption></figure>Darebin’s focus on indigenous species and the increase of canopy cover is a strong strategy. This will hopefully add to the respect of species and an increase in appreciation and benefits of open space, including physical, mental, social and urban heat. 

With densification and a growing population, Melbourne’s opportunities to grow open space are shrinking. It is paramount that local government areas focus on preserving and improving public open space, and plan to increase where possible, capturing vital land for new parks and spaces before they are gobbled up by new development. 

As this time cooped up at home is showing, access to open space is critical and it can and will be utilised for a whole range of activities by the public, generating collective positive mood shifts when everything else has been impacted. 

There are opportunities to increase walkable access to open space through strategic residential development and the linking of large open space with pocket parks and greenery to create green corridors through urban areas.   
Open space is important and the private open space requirements for new dwellings is only minimal. For single and multi-dwelling it is been 40-80sqm and for apartments, you’ll only get between 10-25sqm to call your own.  As a result, more and more people need to leave the house to stretch their legs and come in contact with some nature in an easy, quick and enjoyable way, and Council’s are working hard to make sure everyone has a public park or space near enough to reap the benefits.
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Out in the Open: Comparing Open Space Strategies

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Physical distancing is going to be one of the key pillars to maintain a <a href="/expert-insights/buying/covid-19-a-little-bit-of-positivity-goes-a-long-way">functioning society and economy </a>until a vaccine is found. Now, with the need to have space between people, it is becoming evident how little space is provided in the public realm to humans. 

<a href="/news/icd-propertys-alice-smith-discusses-the-future-of-australias-property-industry-after-covid-19">Therefore in commercial areas</a> it may be time to reallocate some of the 'space between the buildings' back to people. 

In Western Australia, the City of Bayswater has announced the relaxation of alfresco seating permits. Cr Dan Bull, Mayor of Bayswater said the change is one of a raft of measures put in place to support the local economy through COVID-19. Mr Bull said “The only stipulation is that the City would need to see the business’ public liability insurance and footpaths and other areas would still need to remain accessible to the public." Hopefully more Councils will follow the City of Bayswater's example.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/screen_shot_2020-05-27_at_11.48.56_am_0.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="335" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/screen_shot_2020-05-27_at_11.48.56_am_0.png?itok=73EwTgxb" width="580"></a></figure> 

This is a step towards supporting the local economy. If more space is available to businesses, they can offer dine-in services outside while complying with <a href="/guides/covid-19-how-apartment-dwellers-can-keep-themselves-safe-during-self-isolation">physical distancing requirements</a>. But, in some locations this may lead to conflicts with pedestrians, or may not even be possible because the footpath is too narrow. Restaurants and shops may realise that parking bays are more valuable as an extension of their business rather than for vehicle storage. If these are on-street parking bays, what will be the response from local governments to those business owners that want alfresco space to stay open but don't have space to provide it? 


The next step, if appropriate, is to re-allocate some of the street space back to people. Many local governments have parklet guidelines or policies that enable a local business to expand into a parking space outside of their premises. These policies have many requirements in terms of design quality and location. For example, limiting parklets to streets where the speed limit does not exceed 40kph will prove challenging to most of Perth (That is a discussion for another time). Also, not all Councils have city hosted parklets, therefore the entire design, build, and maintenance of the parklet is the responsibility of the business. 

Councils relaxing alfresco seating permits is a positive step towards supporting the re-opening of businesses. It is also a step towards reclaiming public space for people to linger and enjoy. It starts a conversation about the purpose of a footpath or parking lot. Then the discussion will lead to another question - why are vehicles given 3 meters of road space width to be stored while pedestrians, patrons, and people on bikes fight over 1.6 (sometimes 1.2) meters of footpath? Is on-street parking the best use of that space? What if it was redistributed into space for people? Perhaps it is more useful as an extension of the footpath, or perhaps it could become a bike lane. 

Streets for People wants to see initiatives that use temporary road treatments to re-allocate vehicle space back to people.
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Making physical distancing possible - Seizing the Opportunity to Make Streets for People.

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With the recent uproar over ME Banks announcement that they were preventing, to various degrees, some customers access to their available redraw funds, it might be an appropriate time to outline the differences between funds kept in Redraw and funds kept in an Offset account.  

Firstly a quick recap; In the typical home loan with Principle and Interest payments, you know that if you only ever make the minimum payment each month, then that loan will be paid out down to zero at the end of the specified term.  If interest rates don’t change throughout this period, then your minimum monthly payment won’t change either.  This monthly payment combines a portion to pay the interest due, and a portion towards paying down the principle.  
Over the course of the loan, even though the total <a href="/guides/how-to-buy-a-house-in-2021-a-guide-for-first-time-home-buyers">monthly payment </a>may not change, the ratio of interest portion to principle portion will change.  At the beginning of the loan, most of the monthly payment goes towards paying the monthly interest and only a small amount goes towards paying down principle, whereas at the end of the life of the loan this is reversed, with the majority going towards principle reduction, and a small amount paying accumulated interest.  This is why, when you look at your home loan statement at the beginning of the loan, it seems that very little progress is being made on reducing the balance.

So if you can reduce this interest bill each month, then more of your loan payment can go towards paying down the principle.  
Paying more than the required minimum, either regularly or as a lump sum can help do this.  Even small regular payments over time can help make significant savings.  These extra contributions can be made in two ways, as extra payments directly into the home loan account to physically reduce the loan balance, or as deposits into an Offset account that is linked to the home loan.  
In the case of payments directly to the loan account, the effect is obvious.  As interest is calculated on the outstanding loan balance, then the lower the balance the less the interest.  In the case of an Offset account arrangement it’s slightly different.  If the home loan account shows physical balance owing of say $500,000, but a linked Offset account has a credit balance of $40,000, then for the purposes of calculating interest, the figure is calculated as if the loan balance was $460,000.

In both cases, you can still access these extra payments.  At first glance they appear to be two different ways to achieve the same overall effect, and in the basic mechanics of it they are.  In general, the differences come down to pricing, typically the Banks will charge a premium somewhere for the Offset account option.  
Maybe a higher interest rate on the home loan, maybe a monthly or yearly ongoing fee, it pays to check the details.  The Offset account options also keeps a clear distinction between the use of funds, you can in this instance, mix ‘investment’ home loan funds, with ‘<a href="https://thenewdaily.com.au/sponsored/2019/11/29/5-reasons-why-now-could-be-a-good-time-to-buy-off-the-plan/">owner occupied</a>’ Offset account funds, and not cause issues come Tax time. 

Whichever option you choose will depend on your personal situation, and medium to long term goals.  Note that the above applies to variable rate home loans.  The majority of Fixed Rate home loans don’t offer this, or if they do, they come with operating restrictions.  Ultimately a good conversation in the beginning will help to choose the best option that works for you.
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The difference between offset and Redraw - Mortgage loans that are right for you

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The Catalina, rising boldly on the waterfront of Chevron Island, draws inspiration from the Art Deco influences and vibrant village atmosphere of South Beach Miami, representing striking architectural style and an unrivaled central location. Developed by Marquee Developments and designed by the acclaimed BDA architecture firm, The Catalina will bring 75 two and three-bedroom residences with sweeping views of the Nerang River, connecting this unique island site with the Gold Coast’s famous beaches to the east and the highly anticipated Home of the Arts (HOTA) cultural precinct to the south.

Centrally located in the heart of the Gold Coast, Chevron Island enjoys a rich history as one of the first exclusive residential islands to be developed in the city, positioned within the island offers a peaceful tree-lined neighbourhood surrounded by some of the Gold Coast’s premier waterfront homes.

The foyer elegantly celebrates a two-level void that is bathed in dappled light created by the Art Deco block wall featured on the level above, providing residents with the perfect welcome home. 
Inside the apartments, an open floor plan design blurs the line between inside and out, inviting breathtaking views of the Gold Coast skyline and waterways directly into your living room and filtering light throughout the entire apartment. Incorporating soft tones and textures that complement its island setting, each living space represents a convergence of contemporary style and timeless simplicity. 
The entertainer's kitchen incorporates polished stone benchtops and premium European appliances, each kitchen marries cutting edge design with absolute practicality. Open floor design joins the living room with the kitchen, creating the ultimate space to cook, relax or entertain guests. 
Carefully selected stone finishes, contemporary tapware, and timber cabinetry complement an elegantly fitted shower to create a spacious yet functional ensuite bathroom adjoined by walk-in robe.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/the-catalina-258-stanhill-drive-surfers-paradise-ab305bf1d69f9cd35b3de343fa80584c_0.jpg" rel="gallery-all" title="Resort Pool"><img alt="" class="image-article-full-width-580px" height="251" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/the-catalina-258-stanhill-drive-surfers-paradise-ab305bf1d69f9cd35b3de343fa80584c_0.jpg?itok=cyrlaLd8" title="Resort Pool" width="580"></a>

<figcaption>Resort Pool</figcaption></figure>Residents can take advantage of the incredible amenities right at their doorstep including:

<ul>
<li>Resort Pool</li>
	<li>Sauna</li>
	<li>Rooftop Pavilion &amp; Lounges</li>
	<li>Outdoor Entertainer's Kitchen &amp; BBQ</li>
	<li>Yoga</li>
	<li>Hydrotherapy Shower</li>
	<li>Treatment Rooms</li>
	<li>Residents’ Dining</li>
	<li>Gymnasium</li>
	<li>Private Cinema</li>
</ul>
The Catalina embodies the pinnacle of luxury apartment living with an unbeatable selection of resident amenities that promotes wellness as well as lifestyle. 
The rooftop pavilion captures panoramic views of the Gold Coast skyline, waterways and HOTA, and provides a front-row seat for fireworks, lightshows and live events.
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Art Deco inspired, The Catalina embodies the pinnacle of luxury apartment living on Chevron Island

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

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"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

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The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

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The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

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Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

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While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

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That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

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Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

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The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

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The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

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What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

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Nicholas Failla

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