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You can tantalize your tastebuds this weekend at the “great truck round up” at the grand opening of the new Mason Point display suite in South Morang.
Running on Saturday November 16 from 11am to 3pm, six of Melbourne’s most popular food trucks will be on site to serve you.
The variety of food ranges from Thai, Vietnames, Laotian, Mexican and Indian cuisine, as well as mini-burgers, frozen yoghurt and deep south US-style roasted and smoked meats.
There will be more than 100 food vouchers offering discounts for those who get in early.
The “<a href="https://www.propertyobserver.com.au/news/mason-point-releases-stage-two-as-part-of-south-morang-s-420m-residential-pipeline/2013101565727" target="_blank">Urbane</a>” Release Two, released in October, features 48 two- and three-bedroom apartments ranging from $323,000 upwards. There are also 16 two-bedroom townhouses from $409,000.
Construction will begin in early-2014, with completion for 2015.
Charles Gibson, director of GPC, said that the display will also include architectural plans and pricing, a full showcase of the kitchen, bathroom and timber flooring and a fully interactive touchscreen.
“Representatives from the award-winning Jackson Clements Burrows Architects – the design team behind Mason Point - will also be on hand to meet with buyers and discuss elements of the apartments and town homes’ functional yet stylish, modern design,” says Gibson.
Food Trucks there on the day are White Guy Cooks Thai, Dos Diablos, Sliders on Tyres, Dhaba, Smokin’ Barry’s and Yogurrdiction.
<a href="mailto:ntrotman@propertyobserver.com.au" target="_blank">ntrotman@propertyobserver.com.au</a>
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Tantalise your tastebuds at Mason Point this weekend

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A 2.96-hectare Cannington site adjacent to one of Western Australia’s largest shopping centre, Westfield Carousel, is on the market for over $16 million.
Located on the corner of Carousel Road and Grose Avenue, the site is advertised as being ideal for a mixed-use redevelopment.
<img src="/images/stories/2013/11/15/cannington-nov-15-one.jpg" width="470" height="177" alt="cannington-nov-15-one">
Australian-owned furniture manufacturer and wholesaler DIM Furniture currently leases 18,000-square-metre of older style office and warehouse space, returning approximately $1.3 million annual.
DIM hold a lease until June 2015, plus a five-year option.
“The site is zoned commercial but the Town of Cannington has indicated it would ultimately prefer a mixed use development on the site with a combination of commercial and residential components,” says John Corbett Knight Frank managing director.
“There is development potential to five levels based on council design guidelines and it has the potential for significant development density,” says Corbett.
Tom Shaffer of Knight Frank expects interest from a broad range of local and national investors and syndicators and well as overseas buyers.
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Cannington site with development potential seeks $16m plus

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Negative gearing is a topic that brings out heightened emotions during discussions since opinions about it tend to be very polarized – either strongly critical or overly enthusiastic. However, there is very little academic research on the effects of negative gearing, hence there is lack of indisputable evidence in support of either point of view.
Commentators criticising negative gearing just assume that since there is a tax deduction involved, the whole scheme must be “a tax rort, benefiting rich and driving property prices to extreme levels”. The opposite side argues that without negative gearing “property investors would lose interest in buying properties for rental accommodation”, or even “sell what they currently own”, which will inevitably “lead to hikes in the cost of renting”.
Let’s explore a few basic but very little understood facts about negative gearing to put those views into perspective. These facts challenge common wisdom about negative gearing. The intention here is not to take sides but rather to highlight the need for proper research, so the impacts of negative gearing on the property market in Australia can be properly assessed - for long term tax and social policy purposes as well as for investment decisions by individuals. If that research is not undertaken, the risk is that, without the proper understanding of the implications, important and far reaching decisions will be made based on totally incorrect assumptions and therefore anticipated outcomes will not materialise.
Fact one: Negative gearing benefits investors with fewer economic resources more than the rich
One benefit of negative gearing is that it reduces the amount of accumulated losses in the initial years of the investment and therefore it lowers the costs of carrying those losses for the investor. It leads directly to the second benefit, a benefit with an important social dimension: negative gearing allows people with fewer economic resources to participate in this class of investment.
In particular, it is often overlooked that a property investor has to have a capacity to carry real cash losses for several years. That is, in the first few years of the investment those losses accumulate and then are gradually reduced by profits generated in subsequent years. Negative gearing reduces the total amount of accumulated loses by as much as 30-40% (equivalent to the taxpayer marginal tax rate). True, rich investors benefit from this reduction as well but they have a better capacity to fund such loses. Therefore, the benefit of negative gearing goes directly to those less fortunate, who may not have the financial resources to carry higher losses if negative gearing is not allowed.
Whether property investment by a wider community should be actively encouraged through lowering barriers to entry is a topic for a separate debate however, the fact is that negative gearing benefits investors with lower incomes more than the rich. One could even risk a thesis that removal of negative gearing could be to a great advantage of the rich because the pool of potential property investors would be reduced. However, it does not necessarily equate to falling prices – rather, that investment properties would be concentrated in fewer hands over time. This and similar not totally impossible scenarios should be given a serious consideration and should be research in depth before drawing hasty conclusions.
Next page: Negative gearing and tax payments 
 
<hr class="system-pagebreak">
Fact two: Negative gearing alters timing of tax payments but not the overall amount of tax paid by investors and received by the tax office.
In case you wonder, yes you read it correctly – negative gearing is tax neutral for investors and the tax office. There is a very simple explanation for this. You often hear "negative gearing" and "tax saving" mentioned in one sentence so it is easy to jump to a conclusion that one equals the other. However, the reality is that there is “no tax saving” for property investors or “cost to taxpayers” if property is held over many years – through loss making years until it starts generating profit in the later years.
Let’s consider a couple of scenarios, mind you very simplified, for the purpose of explaining this concept:
<img src="https://www.urban.com.au/images/stories/2013/11/13/Table-one-nov-13.gif" alt="Table-one-nov-13" width="470" height="463">
In both scenarios, investor’s net after tax cash position at the end of year three equals $0 (then profit year after year from rent plus bonus from any capital gain - which is taxable on sale of the property). Similarly, net tax paid to the government is the same under both scenarios (ie. case one: -2.5+0+2.5=0; case two: 0+0+0=0). Thereafter, the same amount under both scenarios. The only thing that is different under each scenario is timing of tax payments. That is, under negative gearing scenario tax office takings are reduced by 2.5 in year one (as investor offsets loss against other income) then increased by 2.5 in year three. Under no negative gearing scenario, tax office will not receive any tax payments until year four.
The above example clearly demonstrates that negative gearing affects only cash flow of the investor and the tax office and not the overall amount of tax paid or received over time. It is simply because under the negative gearing scenario investors can claim rental losses against other income streams in early, loss making years but it also means they have to start paying tax on profits much earlier than would be the case under no negative gearing scenario, since there are no accumulated losses from previous years to claim against. Therefore, negative gearing is not a tax rort and it doesn’t mean that taxpayers “subsidise speculators”.
For the completeness of information, it has to be acknowledged that, under the negative gearing scenario, if marginal tax rate of an investor changes over time (that is, either increases due to career advancement or government increasing taxes, or decreases due to reduced income or government lowering taxes) there will be some discrepancy in the amounts of tax deductions claimed in the initial phase of the investment and tax paid in the future years. This simplified analysis also does not take into account the fact that “a thousand” dollars now is worth more than a thousand dollars in 10 years time. However, in aggregate, the differences will be relatively insignificant.
Another point worth mentioning is that there will be cases of investors liquidating their property holdings while still within the loss making period. This can happen for a variety of reasons but generally, there is no incentive for investors to "cash in" very often just to "save on tax" due to significant cost of transactions (buying and selling). There would have to be a very substantial capital appreciation of the property to cover from net sales proceeds all those expenses as well as net loses carried from previous years and capital gain tax. So, such cases are exceptions rather than the norm.
Next page: Looking at the financial benefit of negative gearing
 
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Fact 3: Financial benefit of negative gearing is minimal
As demonstrated in the previous section, negative gearing does not "save tax" for investors however, it is not to say that it does not deliver any tangible benefits. The primary benefit is that negative gearing reduces the amount of accumulated losses carried forward in the initial years of the investments.
Since there is a cost of carrying a loss from year to year (equal to interest payment on the cumulated amount), the financial benefit of negative gearing equals the value of savings in interest payments. That is, the cost that the investor does not have to incur. It will become obvious once we examine the following simple example:
<img src="https://www.urban.com.au/images/stories/2013/11/13/table-two-nov-13.gif" alt="table-two-nov-13" width="470" height="320">
In this hypothetical scenario we start with a property generating $10,000 loss in year one of the investment (a typical loss reported to ATO) and that loss reduces by $1,000 a year. Break even on this investment is achieved in year 11 and property generates surplus income in subsequent years (increasing by $1,000 a year).
The key point to note is that in this scenario accumulated loses (that is, the real cash that the investor has to outlay in addition to the initial purchase price to hold the property) peak at $55,000 under no negative gearing scenario and only at $35,750 under the negative gearing scenario. A difference of $19,250 - which equates to real cash saving in non-tax deductible interest payments of $13,475 over 21 years (assuming prevailing interest rate on cash of 5%). Higher interest rates over the period will increase the amount of saving but overall, the amount is relatively insignificant in relation to the original purchase price of the investment property.
This conclusion has far reaching implications. Firstly, since there is no tax saving and the true financial benefit is relatively insignificant, it puts in question a common assumption that negative gearing encourages investors to bid higher prices for properties purchased for investment purposes. True, there may be psychological factors (e.g. based on a false belief that "saving on tax" is possible) that encourage some investors to bid higher prices but nobody really knows how much it is, if at all – is it 1%, 5%, 10%? More studies on this issue are required but clearly, there is not much incentive for informed investors to pay against the odds for the property.
The second important implication is that negative gearing has in effect very little impact on the returns. If this fact was widely known by current property investors there should be no panic-selling of investment properties if, at some stage, negative gearing comes under the threat of removal. And, as the result, there should be no impact on rental prices in the short term either.
This article presented three important but mostly unknown facts about negative gearing. These facts challenge common wisdom. They clearly demonstrate that negative gearing is not a cost to taxpayers, that its impact on property prices is mostly negligible, that negative gearing benefits lower income earners more than the rich and that, if it is abolished, there is no reason for panic-selling of investment properties or altering the approach to property investment.
The intention here is not to judge whether negative gearing is good or bad, or whether it should or should not be retained, but rather to highlight that there is more to negative gearing than just what attention grabbing headlines may imply. We need more academic research into the issue and better education about the true implications of negative gearing so any further debates and decisions (personal as well as those concerning social and economic policies) can be based on facts and not merely on possibly well intended but rather misguided opinions.
 
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 Arek Drozda is an independent analyst who has worked in the public and private sectors for over 20 years in business development, data analysis and in building geographic information systems.
 
 
 
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Negative gearing: The three facts that will challenge your assumptions

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Sydneysiders will soon be able to shop for homewares and gadgets within an apartment setting at the new Longton Lifestyle Hub in George Street, after its launch last night, on George Street, at 6pm.
The Longton Lifestyle Hub will showcase exclusive homewares, giftwares, accessories, artworks and gadgets from both national and around the world designers.
Scale models and floorplans of Longton’s developments will also be showcased.
“Longton Lifestyle Hub is a holistic way of bringing beauty and innovation to the people of Sydney,” says Mark Dennis director of retail and branding at Longton.
“Our aim is to inspire people to surround themselves with beautiful and innovative objects that will enhance their lifestyle.
“We will also introduce them to technology that will make their lives more secure and give them more leisure time,” says Dennis.
Longton is known for developing innovative technology such as the iButler app for ordering goods and services and iCommunity, an electronic noticeboard displayed in the lobby of Longton’s The Uptown development with neighbourhood information and residents messages.
The chief executive officer of Longton Steven Yu says the company slogan, ‘No respect to status quo’, summed up its desire to be trendsetters in the local market.
“We strive to set trends, not follow them, so we create Australia’s most advanced apartment buildings.
“The last thing we want is to offer a similar style of development to the run-of-the-mill, so we search the world to source the best technology, services and homewares. If we can’t find what we want then we create it ourselves.
"Our clientele is astute, so we have to give them top quality appointments and finishes, which we do at excellent value,” says Yu.
Collections on showcase in the Longton Lifestyle Hub include Lunares from Mexico, Fink from Australia, Eclectic by Tom Dixon, Nasonmoretti from Italy and Utility and Utopia by Pia Wüstenberg, among others.
Longton’s $200 million <a target="_blank" href="https://www.propertyobserver.com.au/news/sydney-s-leafy-suburb-of-roseville-welcomes-technology-smart-the-uptown-development/2013100365492">The Uptown</a> development (pictured below) will feature 213 apartments across six buildings.
With interiors by Archer + Wright, apartment features include marble, broadloom carpet and wide-plank timber floorboards.
{yoogallery src=[images/stories/2013/10/04/rose]}
Each apartment comes with its own iPad to control features from the lighting to the cinematic quality 3D theatre and surround sound system.
The toilets in the apartments include technology features found in a bidet and have been manufactured by Toto in Japan.
The Uptown has a scheduled completion date of 2016.
Longton’s other Sydney developments include Futra and Avantra.
<a href="mailto:ntrotman@propertyobserver.com.au" target="_blank">ntrotman@propertyobserver.com.au</a>
Images are artist impressions.
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Buy your apartment and homewares in one transaction 

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Frasers Property Group’s latest release at its masterplanned residential community in Ryde is following in the successful footsteps of previous releases with over 50% of apartments sold at its weekend launch.
Designed by Cox Richardson architects, The Garden will be a boutique seven-storey building with 63 apartments.
Landscape designer Environmental Partnership has designed the adjoining garden from which the development was named after.
The garden will feature timber-terraced platforms, stone paving, a large water feature, pond and a waterfall.
“The Gardens are designed for everyone who’ll enjoy a daily dose of serenity,” says Frasers Property project director Warwick Dowler.
“We imagine these apartments appealing to young families, empty nesters and professional couples looking for a peaceful home with an easy commute to the CBD,” says Dowler.
Two-bedroom apartments are still available ranging in size from approximately 92 square metres to 150 square metres and ranging in price from $645,000 to $795,000.
Three-bedroom apartments range in price from $1.03 million to $1.155 million and range in size from approximately 142 square metres to 150 square metres in total.
All one-bedroom apartments have been sold.
The Gardens has a scheduled completion date for 2015.
“In the past few months, we have experienced record-breaking sales at Putney Hill,” says Dowler.
“We have brought forward the sale of The Gardens to cater to exceptional demand, and already received strong interest from eager buyers awaiting this next release,” says Dowler.
The <a href="https://www.propertyobserver.com.au/developments/jacara-apartment-putney-hill-sales-boosted-by-nsw-first-home-buyer-scheme/2013090364759" target="_blank">Jacara</a> development is two thirds sold and Palmera has secured over 90% in sales.
A community hall, childcare centre and medical centre are planned for the 13.9-hectare <a href="https://www.putneyhill.com.au/" target="_blank">Putney Hill</a> community on the cusp of Putney and Ryde.
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Putney Hill releases The Gardens following buyer demand

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The conversion of the historic 1888 Beaumaris Hotel into 58 apartments has received the green light from VCAT after a three-year planning battle.
Located at 472 Beach Road, some 60% of the original building is to be restored, including the restoration of the Mansard roof and ornate verandahs.
Developed by Brighton developer Cieran Kayes and designed by architects Ten23, <a href="https://www.kayburton.com.au/property/472-beach-road-beaumaris" target="_blank">the development</a> will feature two- and three-bedroom apartments as well as a café and two shops.
Apartments range in size from 54 square metres to 218 square metres and range in price from $399,000 to $2.4 million.
The Beaumaris Conservation Society was opposed to the development, saying that 75 car spaces with an “unsightly and very busy CBD-style ramp on such a small site would introduce a highly urbanized ambience more appropriate to the Melbourne CBD.”
Some 27 residents also objected to the plans, mainly over traffic and density concerns and the Bayside Council knocked back the plans in March this year.
The hotel has undergone numerous name changes over the last century from The Hotel Beaumaris to The Beaumaris Pavillions and most recently, The Beaumaris.
The development will launch to the public on November 16.
The median apartment price in <a target="_blank" href="/news">Beaumaris</a> is $731,250, a 21.9% change in the past five years, according to RP Data.
ntrotman@propertyobserver.com.au
Images are artist impressions
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Historic Beaumaris Hotel conversion gets green light

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Australian property owners will soon be able to have their listings viewed by Chinese consumers, with REA Group revealing plans for a Chinese language property site myfun.com. 
The term “my fun” translates to “buy property” in mandarin and will feature realestate.com.au’s property listings in Mandarin, from new apartments to house and land packages.
REA Group managing director and chief executive officer Greg Ellis says Australia is experiencing unprecedented levels of demand from Chinese consumers in the residential, commercial and new development property markets.
“We wanted to create a customised user experience for Chinese consumers to ensure they could access relevant information in a format that would suit their property search requirements,” says Ellis.
“All property listings are provided in Mandarin and property enquiries will be directed to a Chinese-based myfun.com representative who will connect potential buyers to the property’s real estate agent.
“Myfun.com will provide agents the opportunity to reach a new and engaged segment of prospective buyers,” says Ellis.
Ellis says the new property site is likely to reduce the number of days on the market and will generate higher sale prices due to competition.
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Chinese buyers to have access to Australian property listings through new website

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A four-bedroom unit in The Allen Interest’s The Point development is this week’s most expensive sale, selling at its November 9 auction for $5.4 million, according to RP Data.
Located in Cremorne Point, the apartment is one of four and occupies an entire 350-square-metre floor.
The interiors include parquetry, Roman blinds, a sauna and gym, three bathrooms and a lift from the garage.
The property last traded in November 2000 for $4.2 million.
Neil Allen of The Allen Interests bought the site at 41 Cremorne Road around 18 years ago and built a luxury apartment complex designed by Peter Mayoh.
Each of the four apartments occupies an entire floor.
The property was sold through Donna Fischer and Richard Corbett of <a href="https://www.firstnationalns.com.au/buy-residential-real-estate/apartment-3-41-cremorne-road-cremorne-point-nsw-11120100031" target="_blank">First National North Sydney</a>.
The median apartment price in <a href="/news">Cremorne Point</a> is $905,000, a 28.8% change in the past five years, according to RP Data.
Most expensive sales:
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3/41_cremorne_road_cremorne_point_nsw_2090/2003732" target="_blank">3/41 Cremorne Road, Cremorne Point, NSW, 2090</a>, four-bedroom unit, sold at auction on November 9 by First National North Sydney for $5.4 million 
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/21a_albany_road_toorak_vic_3142/16534212" target="_blank">21a Albany Road, Toorak, VIC, 3142,</a> three-bedroom house, sold at auction on November 9 by Kay &amp; Burton South Yarra for $4.55 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/13_weeroona_avenue_woollahra_nsw_2025/7743764" target="_blank">13 Weeroona Avenue, Woollahra, NSW, 2025</a>, four-bedroom house, sold prior to auction on November 6 by 1st City Hasemer &amp; Caldwell.Eyles for $3.7 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/401/20_alfred_street_south_milsons_point_nsw_2061/15445007" target="_blank">401/20 Alfred Street, Milsons Point, NSW, 2061,</a> three-bedroom unit, sold on November 6 by Milson Executive Milsons Point for $3.65 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/24_beatty_street_balgowlah_heights_nsw_2093/1229299" target="_blank">24 Beatty Street, Balgowlah Heights, NSW, 2093,</a> four-bedroom house, sold at auction on November 7 by L J Hooker Seaforth for $3.225 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/43_middle_harbour_road_lindfield_nsw_2070/3771265" target="_blank">43 Middle Harbour Road, Lindfield, NSW, 2070,</a> four-bedroom house, sold prior to auction on November 9 by Belle Property Killara for $3.16 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/3_rostill_court_toorak_vic_3142/13588432" target="_blank">3 Rostill Court, Toorak, VIC, 3142,</a> four-bedroom house, sold at auction on November 9 by Kay &amp; Burton South Yarra for $3.02 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/2_edward_street_woollahra_nsw_2025/7736827" target="_blank">2 Edward Street, Woollahra, NSW, 2025,</a> four-bedroom house, sold prior to auction on November 9 by GoodyerDonnelley Woollahra for $2.9 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_bromley_avenue_pymble_nsw_2073/5638919" target="_blank">7 Bromley Avenue, Pymble, NSW, 2073,</a> six-bedroom house, sold at auction on November 9 by Ray White Lindfield for $2.9 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/122_windsor_street_paddington_nsw_2021/5278137" target="_blank">122 Windsor Street, Paddington, NSW, 2021,</a> four-bedroom house, sold at auction on November 9 by Ballard Property for $2.8 million 
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Cremorne Point apartment sells for $5.4 million: RP Data

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The latest mixed-use development to hit Docklands - and possibly one of the last - is the 18-storey $100 million M Docklands designed by award-winning architects Elenberg Fraser.
Located at 677 La Trobe Street, M Docklands will feature 186 apartments, two floors of hotel accommodation and ground floor retail space.
Developed by Capital Alliance Investment Group, some 30% of apartments have sold pre-launch to a mix of investors and owner-occupiers.
Two penthouses have already been snapped up, with two top-floor penthouses still on offer from $1.65 million.
Buyers will be able to design their penthouse from scratch, with the developer footing all the design and consultation costs with Elenberg Fraser.
The four penthouses will have access to an exclusive rooftop terrace on level 19.
One-bedroom apartments range in size from 42 square metres to 52 squares and start from $355,000.
Two-bedroom apartments range in size from 62 square metres to 74 square metres and are priced from $490,000.
Residents will have access to resort style facilities in the Lacrosse development next door, including a pool and gym accessed via and undercover walkway.
Levels two to four of the development will include a 68-room apartment hotel known as Peppers Docklands Melbourne.
Mantra Group is to manage the five star hotel, choosing to operate under the group’s luxury Peppers brand.
“We are very particular about using the Peppers brand on the right property, and this development presents us with an excellent opportunity to secure a presence of appropriate scale and quality for Peppers in a prominent location and we are confident it will be embraced by both locals and visitors to Melbourne,” says Mantra Group chief executive officer Bob East.
The hotel will be part of stage two of the development and will be the first Peppers property in the Melbourne CBD but will accompany four properties in regional Victoria.
Mantra Group will manage an onsite restaurant, pool and gym, with residents of M Docklands having some access to the hotel’s facilities.
Construction on M Docklands is scheduled to commence in June 2014 and has an expected completion date of mid 2016.
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Elenberg Fraser-designed Docklands development to host first Peppers hotel

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We all know that holiday rentals are often in steep competition with each other and that it can be tricky to get tenants in, but some owners have let their creative flare lead the way. Here are some of the most unique (and strange) holiday accommodation ideas from around Australia. 
<a target="_blank" href="https://www.downtoerth.com.au/">Down to Erth Bed and Breakfast</a> is a self-contained underground apartment in Coober Pedy.
This kooky accommodation can host up to five people from $160 per night.
<img src="/images/stories/2013/11/12/4.jpg" width="470" height="313" alt="4">
Photo of Down to Erth Bed and Breakfast courtesy of <a href="https://www.wotif.com/hotels/down-to-erth-b-b" target="_blank">Wotif</a>
 
Or have you ever considered staying in a train carriage? <a target="_blank" href="https://www.laststop.com.au/Last_Stop/Welcome">The Last Stop Ambledown Brooke</a> self-contained train carriages are much more appealing than your average work commute.
Located in Canberra, each train carriage sleeps two guests and is priced from $180 a night.
 <img src="/images/stories/2013/11/12/5.jpg" width="470" height="300" alt="5">
Photo courtesy of Last Stop
 
Located in New South Wale’s Gundagai, Church House Bed and Breakfast offers accommodation in exactly that; a historic church.
Featuring three bedrooms, this historic church can sleep up to six people with rooms starting from $175 a night.
<a href="https://www.tripadvisor.com.au/LocationPhotos-g528959-d1757901-Church_House_B_B-Gundagai_New_South_Wales"><img alt="Photos of Church House B&amp;B, Gundagai" src="https://media-cdn.tripadvisor.com/media/photo-s/03/73/cf/05/front-of-church-house.jpg" width="470"></a>
<a href="https://www.tripadvisor.com.au/LocationPhotos-g528959-d1757901-Church_House_B_B-Gundagai_New_South_Wales"></a>Photo of <a href="https://www.tripadvisor.com.au/Hotel_Review-g528959-d1757901-Reviews-Church_House_B_B-Gundagai_New_South_Wales" target="_blank">Church House B&amp;B</a> is courtesy of TripAdvisor
 
Last but not least, you can accommodate your inner child with this fairytale-like cottage in Coonabarabran, known as <a href="https://www.barkalafarm.com.au/the-old-schoolhouse/" target="_blank">The Old Schoolhouse</a>. 
This octagonal cottage can sleep up to eight and is priced from $130 for two people.
<img src="/images/stories/2013/11/12/coonabarabran-nov-12-two.jpg" width="470" height="594" alt="coonabarabran-nov-12-two">
Photo of The Old Schoolhouse courtesy of Barkala Farm.
<img alt="rp-data-nov-13" height="237" width="403" src="/images/stories/2013/11/13/rp-data-nov-13.gif">
 
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Quirky holiday rentals from train carriages to underground hobbit-style

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]

Nicola Trotman

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