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The first offer you receive on your home is generally the best offer and the biggest mistake sellers make is turning down this offer because it’s early days, says prominent New South Wales Central Coast agent Mat Steinwede. 
Steinwede says buyers and sellers start at opposite ends of the interest wave; a buyer starts logically and finishes emotionally, whereas a seller generally starts emotionally and finishes logically.
“When they [a buyer] see a home come on the market, they haven’t been there, they haven’t lived there, but what they do is compare it straight away logically to what else is on the market and pull up the data on anything that has recently sold. They look at it very clinically.
“If an owner is thinking of selling their house, they have to do the same and compare it clinically, forget it’s your house for a moment,” says Steinwede in a conversation with Kevin Turner of Real Estate Talk.
Steinwede says that once a buyer becomes interested in a home, that’s when price is generally built but sellers will sometimes almost miss the market because they start their price high.
“The logical part of the process doesn’t connect and then they sit on the market and end up dropping their price most of the time.
“There’s a saying in real estate: your first offers are the best offers, even though the owner might see it as low to the market place or the buyer, it might actually be the right offer or the best offer because the buyer has been looking for a while,” says Steinwede.
Steinwede’s advice is to take your time when pricing your home, research the market and don’t listen to your friends or neighbours.
“When you do find a buyer and if it’s in those early stages the biggest mistake owners make is saying it’s early days and letting the buyer go.
“Sit with your agent and know a few things; how long has the buyer been looking for? How much do they have to spend? What are their reasons for buying the home?
“If those three things are all in your favour, chances are that’s going to be the strongest buyer you’re going to find along the whole process,” says Steinwede.
Even though the price may be less than what you want, Steinwede says not to disregard it but to sit down with your agent and work through the reasons why the buyer is interested in the home.
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Risks on pricing your home - start high and miss the market: Mat Steinwede

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Despite the number of developments in the pipeline for north Gold Coast’s Coomera remaining steady, the amount of funding in the pipeline has dipped slightly due to smaller projects.
Spending is down 15% compared to the previous year, but planned projects or those underway in the area – including <a href="/news">Upper Coomera</a>, <a href="/news">Guanaba</a>, <a href="/news">Maudsland</a>, <a href="/news">Oxenford</a> and <a href="/news">Wongawallan</a> - have remained virtually unchanged with 63 this year and 64 developments last year.
Colliers International Gold Coast director in charge Stewart Gilchrist says 17 projects have been added to the development pipeline over the past year but have all been of smaller scale to those previously undertaken in the area.
“Gone are the days of the large-scale masterplanned communities – for now.
“Confidence in the Gold Coast market has waned a little over the past few years, and lenders have been less willing to provide finance for projects in the area.
“However, this is quite clearly starting to change now. In fact, some sectors of the Gold Coast market are really starting to heat up, and it won’t be long before those big projects are back on the map again.
“Development activity in the Coomera area will of course also increase significantly when the Coomera Town Centre becomes a certainty, and it is well on the way to this now,” says Gilchrist.
The two largest projects include the $70 million Coomera Palms residential project and the $55 million Spiritus Coomera retirement project.
The residential sector accounts for the largest percentage of the pipeline at $2.44 billion, followed by the mixed-use sector at $750 million.
Half of the developments in the pipeline – 25 projects worth $2.25 billion – are currently under construction.
Colliers International Gold Coast research manager Lynda Camberwell says as one of Gold Coasts biggest growth areas, Coomera needed a continuing strong development pipeline.
“According to the latest statistics from the Australian Bureau of Statistics, the area has experienced some of the highest growth of any area on the Gold Coast.
“The suburb of Coomera itself had a population growth rate of 9.5% over the 2011/12 financial year, which was the second highest in the region.
“Going forward Coomera’s population growth is projected to increase by 8% per annum between 2011 and 2031, far greater than the 1.9% expected for the Gold Coast overall.”
Camberwell says the drop in spending could be attributed to the fact that some projects were either downgraded in terms of cost or are no longer on the radar.
“Around half of the decrease in spending in the area was due to projects that seem to have either been put on the backburner or completed.
“The dollar value of the Blue Sky residential project at Coomera has also fallen significantly following the sale of part of it to AV Jennings, which has contributed to the overall drop in spending,” says Camberwell.
 
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Gold Coast's Coomera development pipeline spending less but still steady

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The rate of apartments being offered off the plan is increasing, with developers of high density residential needing a certain amount of pre-sales before the development can kick off. These apartments are generally offered at a cheaper rate with incentives sometimes pinned on, but are these properties a good investment?
Property Observer has asked industry professionals from buyers agents to developers to weigh in with their thoughts.
They were each asked: Can off the plan properties be good investment? Why or why not?
John Carfi – Chief executive officer of <a target="_blank" href="https://www.mirvac.com/">Mirvac</a> residential<img width="113" height="150" src="/images/stories/2013/11/01/carfi-profile.jpg" alt="carfi-profile" style="float: right;">
YES, IF YOU BUY WISELY
off the plan properties can deliver great returns to investors, providing a stable rental income, the potential for capital gain and tax benefits through depreciation and negative gearing.
When investors buy property off the plan they are essentially buying sight unseen so the first rule should always be to ensure the developer and builder are reputable with a track record of delivering quality buildings as specified and on time.
The returns will be determined by many factors depending on whether the investor is intending to hold and rent or 'flip' the property to make a quick profit.
Flipping, or speculative purchase, is a much riskier investment strategy, and presumes that the market will rise and a profit can be made before or soon after settlement. It’s a gamble that may not turn out in the investor’s favour.
For those seeking a medium to long term hold, the factors to consider are the appeal of the property to tenants. If the property is well-designed with a high level of amenity, close to public transport, infrastructure such as schools, shops and open space it is more likely to attract a higher rent and be easy to let.
There are many tax benefits associated with owning an investment property and they are most favourable when the property is new. However this should not be the sole criteria for investment.
Another factor that will impact upon yield is the strata levy. These are not set until settlement however investors need to be aware that inclusions such as swimming pools, gymnasiums and the other attractive selling points of the development will need to be maintained by the owners corporation.
Most investors will be looking for capital gain and if you have bought wisely, a good quality product in a good location, the gains should be in line with the market.
 
Todd Hunter – Director at <a target="_blank" href="https://www.wheregroup.com.au/?">wHeregroup<img width="125" height="150" style="float: right;" alt="todd-hunter-profile-2" src="/images/stories/2013/11/01/todd-hunter-profile-2.png"></a>
off the plan IS RARELY A GOOD INVESTMENT
Let’s look at this practically, the developer is selling a product. They have worked out their numbers to the exact dollar on a spreadsheet and know how much they can sell for as a minimum. But who wants minimum?
As a property owner, when you sell, you want the maximum price don’t you? Well, so does a developer. Their issue is that they don’t have a big market presence in Australia so quite often they employ the services of a marketing company to spread the word to buyers right across Australia. They often have referral networks consisting of accountants, financial planners, and mortgage brokers to help them sell to their client.
Now these marketing companies do not work for free. Nor do the referral networks. The developer doesn’t want to drop their price either, so their fee is simply added to the developer’s sale price.
So why not go direct to the developer and cut out the middleman? Greed, by the developer to sell one at an increased profit as well as keep price consistency for valuation purposes.
It’s only when they have financial issues that they will liquidate and you can maybe get a deal.
Second reason - GST – why do you think that car prices drop by at least 10% the moment they drive out the driveway? Because the GST must be paid. The same is for properties but not on sell price but GST is paid on all good and services used to build the property.
For those reasons I have not seen many off the plan purchases of late that are worth investing in.
Next page: Paul Biller and Damian Collins
 
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Paul Biller – Principal of <a target="_blank" href="https://www.1stcity.com.au/">1st City Hasemer &amp; Caldwell-Eyles<img width="113" height="150" style="float: right;" alt="biller-profile" src="/images/stories/2013/11/01/biller-profile.jpg"></a>
off the plan PROPERTIES CARRY GREATER RISK THAN PURCHASING AN EXISTING PROPERTY
An off the plan purchase carries greater risk than purchasing an existing property as it is very difficult to establish fair market value for what the property will be worth on completion or predict an accurate future rental return. There will also more than likely be an oversupply of competing properties for rent when the development is completed due to other investor sales in the complex, ultimately resulting in having to lower the asking price in order to secure a tenant. Other things to consider are the project may not proceed if the relevant council approvals are not granted; the finished product may differ to what you anticipated; you can’t physically walk through the property you are buying.
There are however many advantages to buying off the plan including buying at a better price. When developers first offer their new projects they often offer them at discounted prices in order to secure required pre-sales for the bank. When the required number of pre-sales is met and construction begins the prices generally rise. Therefore, for investors who commit early to an off the plan purchase there is often a good price incentive.
Another advantage is the depreciation benefits. The newer the property the more tax deductions are available. The buyer is able to claim depreciation on their tax for items including fixtures and fittings. As the benefits are greatest when the property is brand new – buying off the plan maximises your available tax deductions.
As an off the plan purchaser you may get to customize your new property. Often buyers may have a choice of finishes to choose from including different colours, tiles, various fixtures and fittings as well as layouts which the developer may be able to incorporate such as merging two apartments into one large one.
There are also various government grants and stamp duty exemptions to first time property buyers.
As with all property purchasers, be sure to do your research. Look at the median apartment price growth in the area and research the project team including the developer, architect and builder.
 
Damian Collins – Director of <a target="_blank" href="https://www.momentumwealth.com.au/?">Momentum Wealth<img width="113" height="150" style="float: right;" alt="collins-profile" src="/images/stories/2013/11/01/collins-profile.jpg"></a>
GENERALLY, off the plan APARTMENTS ARE NOT GOOD INVESTMENTS
Generally off the plan apartments are not good investments.  Investors are often enticed to "get in on the ground floor" and hope that the property will be worth more at settlement than what they paid. Certainly in a rising market a property may be worth more than what you paid. But on the other hand I've seen many investors buy off the plan and find at settlement that prices are 20% less than what they paid. If you are buying for the intended gain before settlement then you are really a speculator, not an investor. For the long term investor an off the plan apartments provide additional risks. Firstly at the time of buying it may appear that there is limited supply on the market. However, if the market starts to see demand, developers in that area may release a substantial number of new properties leading to potential oversupply and poor price performance. One of the key reasons why off the plan apartments are generally not good investments is that there is too much building value and not enough land value. Ultimately the land goes up in value and the building depreciates. Many high rise apartments have little land content and the long term lower growth rates reflect this. Particularly with off the plan apartments, you are paying for a nice shiny new property that in a few years may not look so new to any future prospective buyers. off the plan sales are great for developers as it helps them get finance for their projects with enough pre-sales. If you are an owner occupier not focussed on the capital growth and you find a property that you think is ideal then it may be suited to you. However if you are an investor, give off the plan properties a miss and find a property with a good land value in an area with limited supply and high demand. You'll be sure to make much more money that way.
Next page: Ross Le Quesne and Kevin Lee 
 
 
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 Ross Le Quesne - Mortgage broker at <a target="_blank" href="https://www.aussie.com.au/?">Aussie Home Loans<img width="113" height="150" style="float: right;" alt="laquesne-profile" src="/images/stories/2013/11/01/laquesne-profile.jpg"></a>
ENTER WITH CAUTION
<div>Buying a property off the plan a can be an attractive proposition but, as with any property purchase, you must only enter into it with great caution and after much research.</div>
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 A brand new property in a new development is very appealing, but like buying a new car, you may find yourself paying a premium for something that is worth less the moment it's yours. off the plan properties can be overpriced due to the additional entities involved. The developer and builder need to make their profits, as well as a marketing agency (who can charge 5% selling fees) which inflates the price you pay.  To ensure you're not paying too much, you must always do your due diligence. Research the area and what similar properties are selling for now. Make sure the assumed future value (the value of the property by the time of completion) has not factored into what you've paid for the property. You want to be paying today's price when you sign your contract. Buying off the plan can sometimes be profitable. If you're buying in a growing area and you pay market price at time of purchase, meaning that by the time you pay for your property (sometimes 18 months later) you've already gained equity. You will only know that you're paying the right price if you're familiar with the local market and can verify comparable sales.
<div>The rental returns (especially as predicted by the vendors) of a new property can be attractive, but are they the best in the market? An investment is a business decision, not an emotional one - the property does not need to be beautiful to make good rental return. Are there established properties out there right now that will provide better returns for lower outlay and lower risk? To minimise the risk of paying too much you need to do your own research. Don't fall -n love with the idea of a brand new property, if you think you're overpaying you need to walk away.</div>
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Kevin Lee - Buyers Agent at Smart Property Adviser
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<div>THERE'S ASSOCIATED RISKS BUT GOOD OPPORTUNITY FOR FIRST HOME BUYERS</div>
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There has always been a degree of risk associated with purchasing residential properties off the plan, yet for some investors, a well-researched off the plan purchase can represent a solid opportunity and good strategic addition to their portfolio.
However we need to put this out there right now: don't purchase property 'off the plan' with the expectation that it will automatically increase in value whilst its being built.
Yes some people made significant capital growth on both existing property and off the plan purchases over the last 40 years - however you could be sadly mistaken if you put all your money on that horse over the next 20, 30 or 40 years.
This is a 'changing of the guard' moment in Australia's history, unlike anything we've ever witnessed.
The days of 'property doubling in value every seven to ten years' (if they ever did exist) are long gone. In fact I'm still looking in the Australian Constitution for where it says that "by merely signing a purchase Contract, you're entitled to capital growth".
If however 'chasing capital growth' is still part of your game-plan for 2013 and beyond, then you should only ever count on matching inflation - maybe a touch more in the long term. But know this - you will most likely have significant periods of negative or nil growth.
Having said that, there are a number things outside your control that can actually help create capital growth. Two that come to mind immediately are: poor government planning &amp; laws that restrict development; and natural geographical constraints that limit development (e.g. Sydney and South East Queensland's urban development confines).
Infrastructure development - or Urban Renewal programs - instigated by either Local, State or Federal Government are like a "free renovation" for your property. So if you can, choose an off the plan development in a metropolitan area where significant government infrastructure spending has been committed - not just planned. Politicians are good at 'talking the talk' - you need to ensure their money is committed in order for the rest of that old cliche to be played out.
Off the plan developments can sometimes prove to be a good opportunity for first home buyers to get into the market faster, with most state governments offering first home buyers significant incentives. For example in NSW they'll put $15,000 on the table and waive the stamp duty for purchases under their self imposed price threshold.
Savvy purchasers though will ensure that they aren't getting in over their head financially - this is your first home remember. Not your last!
Also - if you are buying off the plan you'd be we'll advised to do so as early in the piece as possible. Why? Because that's when developers are willing to offer their 'best terms' as you are actually helping them de-risk the project and qualify their proposed project for construction funding! They need you: it's that simple!
Finally, if the project, style, location and 'it' factor appeal to you and a few of your mates then think about going in as a 'group' - you will get a better deal. Think of it this way: it's like the company that buys a fleet of new cars pays a fair bit less that you do for your purchase of just one.
As I said at the outset, there is always risk associated with buying off the plan - do your homework and mitigate that risk as best you can.
Next Page: Adam Sparkes
 
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Adam Sparkes - Director of sales and marketing at <a target="_blank" href="https://www.crowngroup.com.au/?">Crown Group</a><img width="113" height="150" src="/images/stories/2013/11/01/sparkes-profile.jpg" alt="sparkes-profile" style="float: right;">
GET IN EARLY AND HAVE A LONG-TERM VIEW
The key thing to remember when buying off the plan, especially when buying into well-known developments, is the best investment returns are made by those who get in early.
Buyers who purchase in the first release are offered lower prices and a greater selection of apartments than buyers in subsequent releases or at completion - which means those who get in early also have more choice when it comes to position and aspect.
Adding to that, buyers who get in early can see capital growth even prior to completion. This occurs if similar properties in the development are sold off the plan later in the lifecycle of the project for higher prices. For example an apartment on level 5 sold for $1 million followed by a similar apartment on level 6 sold off the plan nine months later for $1.1 million, the latter provides a benchmark for valuations of the level 5 property sold earlier. This scenario can offer investors a chance to make capital gains faster than they may with existing properties.
Many of us have heard of the scenario seen in some Sydney developments in the early 2000s when investors purchased apartments off the plan and saw values significantly increase before completion. While,  I feel this is unlikely to happen again in Australia (and I would caution buyers solely motivated to buy apartments off the plan and hoping to sell for a large capital gain before completion), purchasing off the plan can present an attractive proposition for buyers willing to take a long-term view.  Investors buying with a view to hold the apartment for five- 10 years are better positioned to ride out the property market cycles and see good capital gains.
Other benefits of buying brand-new apartments include tax deductable depreciation allowances usually are higher for off the plan properties than existing properties, in addition investors are also eligible to the same out–of-pocket tax deductions as an existing property, making off the plan apartments an attractive proposition for savvy investors.
Finally, to give yourself the best chance of good medium-long term capital growth when buying off the plan, it’s worth looking at existing and future infrastructure in the area, including transport, hospitals, universities and schools. Finally, the facilities provided in the development itself, such as function rooms, pools, gyms and well-appointed foyers are becoming increasing important to tenants and buyers.
 
 
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Are off the plan properties good investments?

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Following yesterday's <a target="_blank" href="/news">story</a> that the big four banks have lifted their fixed-term mortgage rates, the demand for fixed loans has crept higher in the month of October, according to Mortgage Choice.
According to the national new home loan approval figures, fixed rates accounted for 27.38% of all home loans in October, higher than 26.8% recorded the month prior.
“While we have seen a number of lenders lift the interest on their suite of fixed rate products this month, the reality is, fixed rate pricing is still incredibly competitive,” says Mortgage Choice spokesperson Jessica Darnbrough.
“Furthermore, fixed rate pricing is likely to climb higher over the coming months.
“For those borrowers who want certainty around their mortgage repayments and wish to lock themselves into a product with a competitive interest rate, fixed rates are a viable option,” says Darnbrough.
Western Australia recorded the biggest increase of 8.77% to sit at 28.06%.
Fixed rate demand climbed in every state except SA and QLD, which fell 4.39% and 4.52% respectively to 19.99% and 31.88%.
“While Queensland recorded a significant drop in demand for fixed rates this month, the fact that this product still accounts for over 30% of all new home loan approvals suggests Queensland borrowers are still feeling relatively uncertain about current economic conditions.
“Of course, the same cannot be said for South Australia, where fixed rate demand hit its lowest level in eight months,” says Darnbrough.
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Fixed rate demand increases: Mortgage Choice

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Following the announcement on Tuesday that the NSW government has returned to surplus, the Real Estate Institute of New South Wales says it is time to cut stamp duty rates.
The NSW Treasurer Mike Baird released the final budget result for 2012-2013 of a $239 million surplus.
Baird says stamp duty collections were the main reason for the improvement, contributing around $198 million worth of revenue.
“The Sydney housing market has gifted the NSW government a $198 million windfall, allowing it to creep back into surplus,” says REINSW president Christian Payne.
“It is now time for the state government to recognise that stamp duty rates should be cut.
"For too long it has profited from families, young people and the elderly who are trying to put a roof over their head.
“The Australian dream is not attainable for many and the NSW government needs to understand and accept that real estate should not be the major source of its funding,” says Payne.
The current NSW stamp duty rates are below.
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REINSW urges NSW government to cut stamp duty rates

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The Housing Industry Association (HIA) has urged the federal government to repeal the carbon tax when it sits next month, saying it adds to the burden on people buying a new home.
“The carbon tax is bad for housing affordability, and the housing industry will welcome the introduction of the bill to dismantle,” says HIA spokesman Graham Wolfe.
“Modelling conducted prior to the introduction of the tax projected an increase of between 0.8% and 1.7% increase in the cost of building a home, and we have not seen any evidence to the contrary.
“The housing industry implored the previous government not to introduce the tax, and we are now asking in the strongest terms that all sides of politics support its repeal.
“It is a bad tax,” says Wolfe.
Wolfe says it not only adds to the burden on people buying a new home, particularly those who are trying to get into the market for the first time, but it also puts a hand-brake on jobs in home building, manufacturing and related sectors.
“Imposing the carbon tax across the range of products and components that comprise a new home means that a tax multiplier effect occurs on the largest purchase most people will make in their lifetime.
“And the key question is, how will this help improve the environment?” says Wolfe.
Wolfe says new homes are much more energy efficient than existing homes and there lacks transparency about where the carbon tax is adding to the cost of building a home.
“Therefore, the home buyer can’t make decisions or change behaviour to avoid paying for it.
“Industry and customers’ needs certainty, particularly as contracts for new homes are being priced and written many months in advance.
“The best way to achieve this certainty is to quickly dismantle the tax,” says Wolfe.
 
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HIA urges the federal government to scrap the carbon tax

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Three penthouses have sold off-the-plan in the West End riverfront development Vida, totaling $8.9 million in sales and knocking the development up to 95% sold.
The $100 million development by private developer Pointcorp has one dual-level penthouse remaining, priced from $3 million.
Nearly all of the four-bedroom apartments have been snapped up between $1.55 million to $1.72 million and a range of three-bedroom apartments have sold between $1.25 million to $1.4 million.
"We have sold 12 apartments for in excess of $1.25 million in a matter of months," says Pointcorp sales and marketing manager Sam Patterson
"That is in stark contrast to the demand that has been experienced in Brisbane over the past few years, with the majority of interest targeted toward smaller, entry level apartments.
"As a result, most new developments released in recent times have catered to this market, so to have this type of success with a project that is specifically designed for those wanting a larger apartment with the highest quality fittings and finishes is a real sign the market has begun to shift,” says Patterson.
All three penthouses were sold to owner-occupiers.
"Each of our apartment types has been designed with a significantly larger floor plan than the average apartment in Brisbane, making them appealing to those who want to live in their apartment, and the position on the river, so close to the CBD and in West End adds to the appeal.
"While West End has long been renowned for being a 'trendy' area to visit, it is really still emerging as a residential hot spot.
“Savvy buyers have recognised this and are looking to secure their place now to take advantage of its urban renewal,” says Patterson.
Designed by Cottee Park, Vida comprises of 148 apartments across two 12-level riverfront buildings.
Remaining apartments are priced from $409,000 to $3 million.
Viva was released to the public in June, with construction to start later this year.
The median apartment price in <a target="_blank" href="/news">West End</a> is $220,000, a 25.2% decline in the past five years, according to RP Data.
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Brisbane West End Vida development 95% sold including $8.9 million in penthouse sales

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A boutique development of only nine apartments is to be the first development to begin construction in the inner west suburb of Sydney Russell Lea in some three years.
Situated between Drummoyne and Five Dock, the $7 million Enclave will feature nine one- and two-bedroom apartments.
Designed by Buzabott Architects of Surry Hills, apartments feature timber floors, Smeg appliances and floor to ceiling glass doors, which lead to balconies.
“These types of boutique developments in the area are becoming quite rare and make for great homes or investment opportunities,” says Sam Elbanna of CPM Realty.
“Being this close to the city and having water views as well as all the amenities the area has to offer is a huge draw card for Sydney-siders,” says Elbanna.
One-bedroom apartments are priced between $485,000 to $649,000 and range in size between 54 square metres to 70 square metres.
Two-bedroom apartments are priced between $699,990 and $1.15 million and range in size between 81 square metres and 176 square metres.
Enclave will launch to the public this weekend, November 2.
Construction is scheduled to commence in January next year with completion to wrap up in February 2015.
The median apartment price in <a target="_blank" href="/news">Russell Lea</a> is $610,000, a 14.8% change in the past five years, according to RP Data.
 
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Boutique development to launch in Sydney's Russell Lea

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Metro Property Development’s $107 million Broadway on Ann development has secured $55 million in sales in its first three weeks since launch.
The residential development is now 49% sold with more than 120 apartments snapped up.
“With the election of a new federal government promising political stability and historic low interest rates, we are seeing rising buyer confidence,” says Metro Property Development managing director Luke Hartman.
“There’s demand for high-quality apartments that are located in inner-city suburbs like Fortitude Valley. Lifestyle is the number one priority of buyers today - they want to be close to shops, restaurants, cafes and entertainment.
“Broadway on Ann is in the heart of the Fortitude Valley and Newstead entertainment precinct and this has been a huge selling point for buyers.
“Its affordable price point has also made it a particularly attractive property investment,” says Hartman.
<a target="_blank" href="https://www.propertyobserver.com.au/news/metro-property-release-third-development-in-investment-hotspot-fortitude-valley/2013100165426">Broadway on Ann</a> will feature 247 apartments upon completion.
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One-bedroom apartments range in size from 40 square metres to 79 square metres and range in price from $335,000 to $465,000.
Two-bedroom apartments range in size from 60 square metres to 137 square metres and range in price from $455,000 to $630,000.
Designed by Woods Bagot, residents will have access to a rooftop entertaining area, including a 15-metre pool, gym and bbq area.
Broadway on Ann is one of many, with Metro currently having more than 1,000 apartments across five different projects under construction throughout inner city Brisbane.
Construction of Broadway on Ann is due to commence in early 2014 and has an estimated completion date in the second half of 2015.
 
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David Devine's Metro Property Group continues to dominate inner city Brisbane market

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Swimming pool and spa owners need to register with the NSW State Government by the end of today or face penalties of up to $550 per offence.
Owners are to self assess and state that their pool complies with standards on the NSW Swimming Pool Register or may register their pool via their local council.
Owners will need to apply for a Swimming Pool Compliance certificate from a local council or an accredited certifier, which is valid for three years.
If you are building a new pool, you should ask the pool installer to provide a Swimming Pool Compliance certificate prior to making your last paying on the pool.
If you are selling your property, you must have a Swimming Pool Compliance certificate to go with your contract of sale, and if you are leasing out your profit, a certificate must be provided to the tenant.
Owner corporations are also required to register a pool on a strata property.
For more information, visit the <a target="_blank" href="https://www.swimmingpoolregister.nsw.gov.au/information">NSW Swimming Pool Register</a>.
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NSW residents must register their pool today or face penalties 

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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