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In Canada, first home buyers are allowed to dip into their superfunds and withdraw up to $25,000 to put towards a deposit. Funds have to be repaid within 15 years and if the yearly repayment is not made, it is included in your yearly income.  
According to the <a href="https://www.propertyobserver.com.au/first-home-buyers/stand-up-and-be-counted-are-the-fhb-stats-a-true-reflection" target="_blank">ABS in early November</a>, Australia’s first home buyer stats hit a new low at just 12.48%. The ABS also forecasted a <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/news/abs-forecasts-victoria-s-population-to-grow-83-by-2061/2013112766636" target="_blank">staggering population growth</a> in Australia over the next, which could tighten the market and the amount of available stock, therefore pushing first home buyers back even more.  
Property Observer asked a range of professionals active in the property sphere to weigh in with their thoughts on the Canadian Home Buyer Plan and whether it should be implemented in Australia.  
Do you think Canada’s home buyer plan should be implemented in Australia? Would it work? Why or why not? If no, what plan should we implement, if any?  
Peter Bushby – President of the <a href="https://www.reia.com.au/%E2%80%8E" target="_blank" rel="nofollow" style="font-size: 14px;">Real Estate Insitute of Australia</a> (REIA).
<img src="https://www.urban.com.au/images/stories/2013/10/25/bushby-profile.png" alt="bushby-profile" width="125" height="167" style="max-width: 480px; font-size: 14px; float: right;">
CORE ELEMENTS OF THESE SCHEMES COULD BE ADOPTED IN AUSTRALIA TO IMPROVE FALLING HOME OWNERSHIP
Core elements of these schemes could be adopted in Australia to improve falling home ownership  
The Real Estate Institute of Australia (REIA) has been advocating the commonwealth government establish a scheme to encourage young Australians to contribute to voluntary superannuation, by allowing access to those resources for the purpose of raising a deposit for a first home.  
Canada, Singapore and New Zealand provide good case studies of home buyers using part of their accumulated compulsory salary deductions to purchase housing.  
In Canada, the Canadian Home Buyers’ Plan, that allows first home buyers to withdraw up to $25,000 from their retirement savings plan to purchase or build a home with funds withdrawn to be later repaid over a 15 year period, has been operating since 1992 with around one-eighth of first home buyers aged 25 to 44 participating.  
In Singapore, the Central Provident Fund (CPF) – a social security fund where a portion of an employee’s salary is set aside for retirement, healthcare and housing – is integrated with home ownership with ordinary account savings being allowed to be used to purchase a home. The approach Singapore has adopted to tackle house ownership since the 1960s has been very successful with the level of home ownership in Singapore at 90.1%.  
In New Zealand, a voluntary work-based savings KiwiSaver initiative is designed to help with New Zealanders’ long-term saving for retirement with two features – KiwiSaver home purchase withdrawal scheme and KiwiSaver home deposit subsidy scheme – helping with the overall deposit when buying land to build a first home on.  
Core elements of these schemes could be adopted in Australia to improve falling home ownership, especially among the 35 to 54 age group.  
For home buyers, a lower principal on their loan would mean either lower repayments, or sooner outright ownership. However, the long-run benefits are even more significant.  
With Australia’s ageing population and with older renters spending the largest proportion of their gross income on housing compared to any age group or tenure type households, high rates of home ownership should remain the government’s priority.  
Shane Oliver – Head of investment strategy and chief economist, <a href="https://www.ampcapital.com.au/" target="_blank">AMP Capital</a><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/10/25/shane-oliver-profile.jpg" alt="shane-oliver-profile" width="125" height="150" style="float: right;">
A LASTING SOLUTION IS TO BOOST DWELLING SUPPLY RELATIVE TO THE DEMAND FOR HOUSING
The Canadian Home Buyer Plan allowing first home buyers to tap their superannuation to contribute to a home purchase makes some sense as it is a way of providing extra funding to first home buyers early in their life when their focus is getting set with a home but when they are also cash constrained. And it doesn't involve a government handout.  
However, it has two big drawbacks. First by reducing members super balances early in their contribution cycle it will dampen the compounding effect of returns over time and lead to lower retirement balances. Second and most importantly, as with all first home buyer schemes it will simply boost the buying power of first home buyers which, in the absence of any moves to boost the supply of housing, will only result in higher home prices. This has been the experience of all first home buyer schemes in Australia that are not target on new housing construction, regardless of how they are financed. As a result property developers and existing home buyers will be the only beneficiaries as prices simply get bid higher and there will be no lasting improvement in housing affordability.  
The only real and lasting solution to poor housing affordability for first home buyers is to boost the level of dwelling supply relative to the demand for houses. This means faster land release and development approvals and measures to reduce the population growth of large cities. In the absence of such policies first home buyer schemes may sound nice in theory but they are of little use in terms of improving affordability.
Article continues on next page. Please click below.
 
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Andrew Wilson – Senior economist, <a href="https://www.apm.com.au" target="_blank" style="font-size: 14px;">Australian Property Monitors</a><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/10/04/AndrewWilson-profile.jpg" alt="AndrewWilson-profile" width="125" height="150" style="max-width: 480px; float: right;">
GOVERNMENTS SHOULD DIRECT HOUSING MARKET INIATIVES TO THE SUPPLY-SIDE
The first home buyers grant is becoming a thing of the past – and that is where it should remain.
Governments in Australia’s most populous states have recently made significant changes to the grant that in Queensland, New South Wales and Victoria now applies only to the purchase of new dwellings.  
These changes have unsurprisingly created disruptions to housing market activity as first home buyers rushed into established markets before the new arrangements took effect. The surge in demand brought forward has resulted in recent low levels of activity from first home buyers in these markets.  
Aspiration for home ownership in Australia however remains high driven in particular by a robust and resilient housing market that provides reliable, tax-enhanced, long-term capital growth. Other home ownership drivers include cultural and prestige imperatives and security of tenure advantages.  
Australians accordingly do not require incentives for home ownership and housing markets generally remain accessible for first home buyers.  
Latest ABS home loan data for October reports that first home buyer numbers are predictably on the rise again in New South Wales and Queensland despite rising house prices and the lack of a grant for established home purchases.  
The number of first home buyer loans approved in New South Wales was the highest monthly total since the end of last year’s demand surge by that group in November. And similarly in Queensland the total first home buyer loans for October are the highest for nearly a year.  
First home owners are alive and well in Australia with the strong underlying rate of home ownership remaining around where it has been for decades and essentially driven by the enviable long-term resilience of the national economy.
Direct buyer incentives just add to the cost base of housing in a market environment. Governments should direct housing market initiatives to the supply-side with policies that facilitate the construction of dwellings where and of the type demanded, together with the provision of appropriate residential infrastructure.  
Policies designed to pull the workforce away from the CBD should also be encouraged such as decentralisation incentives through regional employment hubs, telecommuting and localised digital work facilities.  
Kevin Lee - Buyers agent at <a href="https://www.smartpropertyadviser.com.au/%E2%80%8E" target="_blank" rel="nofollow">Smart Property Adviser</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/11/15/kevin-lee-profiel.jpg" alt="kevin-lee-profiel" width="150" height="200" style="max-width: 480px; float: right;">
 
THE SOLUTION IS TO ABOLISH ALL PROPERTY RELATED STAMP AND TRANSFER DUTIES
 
As I said a few weeks ago in this publication - we need to stop the ridiculous focus on first time buyers and level out the playing field for all buyers if we really want to stimulate our economy.  
Here's my questions to add to those above: how can property ever be classified as a 'free market' when governments (of every persuasion and at every level) impose massive taxes, stamp duties, levies, rates, fees &amp; charges on the various sectors of the property market?  
Remember also, that in order to influence the smallest sector by volume and size, state and federal governments offer a number of incentives such as cash handouts and discounted (or zero) stamp duty.  
Mortgage Choice CEO Michael Russell says he likes Canada's first home buyers scheme 'as grants are seen as handouts'. Instead of a grant, the Canadian scheme allows people access to a whopping $25,000 from their super on the proviso it's used as a deposit on that elusive first home and repaid to super within 15 years.  
Obviously they haven't seen Sydney house prices!  
This debate has been in the media a bit over the past year and it definitely needs further discussion. Creating another layer of complexity, another set of rules and regulations and yet another layer of beurocracy rarely makes for a better system. It just creates more jobs for beurocrats. And that's the last thing Australia needs!  
But back to the other point - how much super do first home buyers in Australia actually have? And how much would they need to access to buy that first place in Sydney, Perth, Melbourne, Brisbane, Adelaide, Canberra, Darwin or Hobart?  
That was a bit unfair wasn't it ... but hang on. Don't approximately 95% of all first home buyers live in a capital city? And aren't pretty much all of our capital cities median house or unit prices 'up there' in the price stakes?  
Allowing them to access $50,000 of their super would make a small difference - however this is still interfering with a free market.  
The solution, repeat, the solution is to abolish all property related stamp and transfer duties. In every state and territory. At the very least reduce this anti-competitive tax to a maximum of $1,000 per transaction for any buyer, whether they're buying their first or their twentieth property.  
Because after all - it doesn't matter who owns the property. A household of some type will be formed by either the owner and his or her co-inhabitants, or the tenant and their co-inhabitants.
 
 
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EXCLUSIVE: Should Australia follow Canada's home buyer plan: The experts have their say

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Gen Y are choosing not to follow in the footsteps of their parents and are preferring the flexibility of renting rather than buying a home, says chief executive officer of Wealth Enhancers Finn Kelly.
“A big trend we’ve seen lately is Gen Y starting to question whether they need to buy property right now.
“People are getting a lot smarter; I don’t need a property just because society is telling me to.
“They see the positive effects of Baby Boomers getting great returns but then see Gen Y getting themselves into a large amount of property debt,” says Kelly.
Kelly says Wealth Enhancers recommends young people to invest rather than buy, as they stay emotionally disconnected.
“When you own your own home, you keep putting more and more money into it because you want to keep improving it.
“Gen Y are not willing to give up their state of life, they want to live in a certain place, still have their holidays – they don’t want to sacrifice things. They can’t have the property they ideally want without sacrificing some things,” says Kelly.
Therefore by investing, Gen Y can still live where they want and still have a property without taking on too much dept.
“The biggest thing is people are starting to get a little bit wiser with property and seeing it as another investment, it just happens to be that you can see it and it doesn’t always go up,” says Kelly.
Kelly says Baby Boomers are the opposite and are extremely exposed to property.
“They have large family properties, which are now empty as the children have grown up and left.
“The trend of downsizing takes a lot longer than one would expect though, as individuals feel selling the family home is like losing a part of your identity. They want to do it, but they’re a bit apprehensive,” says Kelly.
Kelly says there are two extremes of downsizers, those wanting to move closer to the city and those who move further out of the suburbs.
“Ones we’re seeing who have done it [downsize] have been happy and quite surprised at how it frees them up.
“It releases equity which can then be put into superannuation,” says Kelly.
Gen Y are classified as those born between 1981 to 1995 and Baby Boomers are classified as those born between 1946 to 1965.
The executive chairman of Aussie, <a href="/news">John Symond expects investors will continue to dominate property purchases</a> into 2014.
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I don't need to buy a property because society is telling me to: Gen Y v Baby Boomers

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Only four homes remain in Mirvac’s Mossvale on Manly community in Wakerley, with the community securing $24 million in sales in the past year.
The remaining homes include three double storey four-bedroom homes - currently under construction – and one single storey display home.
Located 14 kilmoetres from the Brisbane CBD, Mossvale on Manly accommodates around 500 families with 35 homes settling since January.
"There really is nothing else like Mossvale on Manly available in the area,” says Mirvac Queensland masterplanned communities development director Russell Berlee.
"It is a well established and high quality estate and what sets it apart is the unique community spirit that has been created here.
"Mossvale on Manly has its own residents' association that holds numerous events and get-togethers throughout the year,” says Berlee.
The community will feature 10 hectares of parklands and a waterway corridor.
Berlee says purchasers have included those who have previously lived in surrounding areas of Wakerley, Carindale, Manly West and Wynnum.
"The vast majority of our purchasers have been looking to upgrade to their second or third home to accommodate their family now and into the future,” says Berlee.
Remaining homes are priced from $705,000.
The median house price in <a target="_blank" href="/news">Wakerley</a> is $637,500, a 4.5% change in the past five years, according to RP Data.
ntrotman@propertyobserver.com.au
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Mirvac's Mossvale on Manly community a near sell out

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A refurbished 1895 property overlooking Manly Cove is this week’s most expensive sale selling under the hammer for $4 million, according to RP Data.
Located on East Esplanade, the four-bedroom home last sold in 2012 for $1.95 million and boasts period features throughout.
The home was originally a boarding house but was purchased in 1985 for $415,000 and was converted into a 27-room guesthouse.
The guesthouse went to market eight years later in 1993 and secured $1.35 million.
The home now features three bathrooms, including a parent’s limestone ensuite, a designer marble kitchen and a travertine-entertaining terrace.
Ben Daniel and Jenny Nott of <a target="_blank" href="https://www.firstnationalmanly.com.au/index.cfm?pagecall=property&amp;propertyid=2527686&amp;propertyStatus=sold">First National Real Estate Manly</a> held the property.
Most expensive sales:
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/18_east_esplanade_manly_nsw_2095/3977264">18 East Esplanade, Manly, NSW, 2095,</a> four-bedroom house, sold at auction on December 14 by First National Real Estate Manly for $4 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/4_wyndora_avenue_freshwater_nsw_2096/2367172">4 Wyndora Avenue, Freshwater, NSW, 2096,</a> four-bedroom house, sold at auction on December 14 by Belle Property Manly for $3.201 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/31_dalmeny_road_northbridge_nsw_2063/5068751">31 Dalmeny Road, Northbridge, NSW, 2063,</a> five-bedroom house, sold prior to auction on December 11 by L J Hooker Northbridge for $3.1 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/64_carlton_crescent_kogarah_bay_nsw_2217/3454792">64 Carlton Crescent, Kogarah Bay, NSW, 2217,</a> four-bedroom house, sold at auction on December 14 by Belle Property Ramsgate Beach/Menai for $3 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/56_meredith_street_elwood_vic_3184/10913511">56 Meredith Street, Elwood, VIC, 3184,</a> five-bedroom house, sold at auction on December 14 by Marshall White Real Estate for $2.92 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/18_benwerrin_avenue_carss_park_nsw_2221/1765597">18 Benwerrin Avenue, Carss Park, NSW, 2221,</a> six-bedroom house, sold at auction on December 14 by McGrath Estate Agents for $2.9 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/28_walpole_street_kew_vic_3101/11357699">28 Walpole Street, Kew, VIC, 3101,</a> four-bedroom house, sold at auction on December 14 by Nelson Alexander Fitzroy for $2.87 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/23_jacksons_road_mount_eliza_vic_3930/12023132">23 Jacksons Road, Mount Eliza, VIC, 3930,</a> four-bedroom house, sold at auction on December 14 by Marshall White Real Estate for $2.85 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/96_morris_street_williamstown_vic_3016/13821166">96 Morris Street, Williamstown, VIC, 3016,</a> three-bedroom house, sold on December 13 by Greg Hocking Elly Partners Williamstown for $2.81 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/69_clanalpine_street_mosman_nsw_2088/4481511">69 Clanalpine Street, Mosman, NSW, 2088,</a> five-bedroom house, sold at auction on December 14 by Belle Property Neutral Bay for $2.8 million
<a href="mailto:ntrotman@propertyobserver.com.au" target="_blank">ntrotman@propertyobserver.com.au</a>
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Former 1895 boarding house-cum refurbished family home secures $4 million: RP Data

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Only three boutique apartments remain in Kokoda Property’s first venture into South Yarra – Lex - with prices starting from $1.2 million.
Located on Alexandra Avenue, Lex boasts eight two- and three-bedroom apartments ranging from 136 square metres to 193 square metres and ranging in price from $1.2 million to $1.9 million.
Five apartments have already been snapped up, including the two penthouses.
“Purchasers in this luxury demographic are incredibly savvy when it comes to property – they understand and appreciate quality and therefore want to experience every facet of the apartment before they purchase, in order to know they have made the right decision,” says Kokoda Property’s sales and marketing manager Sam Tucker.
Designed by Rothe Lowman and with interiors by Stuart Rattle, Lex apartments feature white Carrara marble island benchtops with Gaggenau appliances, wool carpets in the bedroom and American oak timber flooring in the living areas.
Each apartment comes with two underground car parks.
“Homes along Alexandra Avenue are renowned for their low turnover due to the spectacular location right in front of the Yarra and less than five minutes from the city, so blue chip properties like this don’t come along very often.
“The completion of Lex represents a return to Kokoda Property’s roots as a luxury boutique developer and we think purchasers will be amazed by this breath-taking opportunity to own a high-end luxury and waterfront apartment in such an incredible location,” says Tucker.
The median apartment price in <a target="_blank" href="/news">South Yarra</a> is $541,000, a 15.9% change in the past five years, according to RP Data.
ntrotman@propertyobserver.com.au
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Rothe Lowman-designed Lex crowns South Yarra's Alexandra Avenue

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The Breeze Muirhead residential community in the Northern Territory has been awarded an Urban Development Institute of Australia EnviroDevelopment rating, making it the first Northern Territory community to do so.
Breeze Muirhead joins 18 other residential communities in Australia to have achieved the rating for excellence in sustainability.
The joint project between Defence Housing Australia and Investa Land was awarded across six elements of sustainability, including energy, water, materials, ecosystem, waste and community.
<img alt="muirhead-dec-12-one" src="/images/stories/2013/12/12/muirhead-dec-12-one.jpg" height="231" width="470">
Each home in the community will have a side yard to facilitate the channeling of breezes through the community.
Allotments are orientated to benefit from the dry and wet seasons.
“The benefits for families building a home in an EnviroDevelopment accredited community are far greater than gaining satisfaction from limiting their environmental footprint.
“There can be long-term cost savings, as well as social and health benefits which should not be underestimated,” says Paul Perkovic project director at Investa Land.
“New home buyers can be confident that when they choose to build their home at Breezes Muirhead, they will be living in a community which places a minimal impact on the environment, encourages an active, healthy lifestyle and includes homes with initiatives that reduce energy and water usage,” says Perkovic.
<img alt="muirhead-dec-12-two" src="/images/stories/2013/12/12/muirhead-dec-12-two.jpg" height="219" width="470">
Peter Howman DHA managing director of Breezes Muirhead says to be officially recognized by the UDIA as the most sustainable neighbourhood in the Northern Territory is very rewarding.
Around 18% of the community – 30 hectares – will be dedicated to public space and park.
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Darwin residential community achieves top sustainability rating

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Kerry Hill Architects have taken the crown in the Kings Square Architectural competition with their design for the $45 million community, civic and retail hub in the centre of Fremantle.
The winner trumped two other design entries, which had been shortlisted from 53 entries submitted from around Australia and the world.
<img alt="fremantle_dec_11_one" src="/images/stories/2013/12/11/fremantle_dec_11_one.png" height="194" width="470">
“I’m very pleased with the jury’s decision and on how the competition was managed from the outset,” says Fremantle Mayor Brad Pettitt.
“I thank both the jury and City staff for the enormous time and effort spent getting to this point, which has resulted in some high calibre entries and a first-class winning design.
“What we’re ultimately ending up with here is Fremantle’s future heritage and with the Kings Square Project being the cornerstone of Fremantle’s $1 billion development pipeline and revitalisation, we wanted to make sure we get the best possible outcome in terms of design,” says Pettitt.
Forming part of the larger $220 million Kings square Project, the winning design’s key civic spaces include a City Lawn, Verandah and Civic Drum.
The sandstone cylinder Civic Drum contains the council chamber on top, staff lounges, community room, exhibition and a multi-purpose room.
<img alt="fremantle_dec_11_two" src="/images/stories/2013/12/11/fremantle_dec_11_two.png" height="326" width="470">
The library will be located in under the City Lawn with side glass walls, making it visible from ground level.
The firm’s design concept was to create informal spaces to invite relaxed public participation.
Competition jury chair Shelley Penn says they were pleased with both the overall quality and diversity of the entries.
“As a jury we ended up selecting the concept submitted by Kerry Hill Architects which offered a proposition of simple, clear elegance that centred on a compelling urban gesture to re-establish Kings Square.
The jury also found this concept to have a refined architectural palette of form, space and materials,” says Penn.
The winning design, along with the two other shortlisted concepts, will be on public display at the former Myer building for the next two weeks.
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Kerry Hill Architects win $45 million Fremantle design comp

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Not everyone has the luxury of a large family home with double-height ceilings to fit a sparkling pine tree, let alone enough room to fit a standard size tree in without compromising on walking space.
If you’re in an apartment this Christmas or a small home, or maybe you just really can’t be bothered with the whole tree thing, here are some creative options to still get in the festive cheer.
This alternative Christmas tree does look a little worse for wear on its own, but I’m sure it can be brought to life with some tinsel and flashing lights and it offers a mess-free alternative to pine needles.
You can purchase this wooden Christmas tree at <a target="_blank" href="https://shop.cottonon.com/shop/product/wooden-christmas-tree-vintage/">Typo</a> for $24.95.
Why not opt for a wall decal? You can get a variety of <a target="_blank" href="https://www.etsy.com/au/listing/163735989/alternative-christmas-tree-wall-sticker?ref=sr_gallery_5&amp;ga_search_query=alternative+christmas+tree&amp;ga_order=most_relevant&amp;ga_view_type=gallery&amp;ga_ship_to=AU&amp;ga_search_type=all&amp;ga_facet=alternative+christmas+tree">Christmas tree decals</a> on Etsy and they require no floor space at all. You can pick from over 30 colours and the decals can be easily removed without damaging the paint – perfect for renters.
Christmas tree decals on Etsy start from $49.55.
If you feel like getting a bit festive, this <a target="_blank" href="https://www.abeautifulmess.com/2012/11/diy-advent-tree">DIY advent tree</a> is a great idea for those with children. The tree is easy to make and small presents and notes are hung from a push pin.
For those still looking for a Christmas tree but after something a little bit quirkier, this cute <a target="_blank" href="https://www.etsy.com/au/listing/113890780/christmas-tree-and-20-felted-acorn?ref=sr_gallery_38&amp;ga_search_query=christmas+tree&amp;ga_order=most_relevant&amp;ga_view_type=gallery&amp;ga_ship_to=AU&amp;ga_page=3&amp;ga_search_type=all&amp;ga_facet=christmas+tree">Christmas tree</a> stands 1.5 metres tall and has no ugly plastic stand in site.
It comes with 20 felt ornaments – colours can be customized- and is priced from $124.
Having a summer Christmas means the usual festive snow-covered ornaments and snowmen are not quite relevant, so you may choose to opt for a beach-feel Christmas tree.
This <a target="_blank" href="https://www.etsy.com/au/listing/159751819/driftwood-christmas-tree-with-sea-star?ref=sr_gallery_28&amp;ga_search_query=christmas+tree&amp;ga_order=most_relevant&amp;ga_view_type=gallery&amp;ga_ship_to=AU&amp;ga_search_type=all&amp;ga_facet=christmas+tree">driftwood Christmas tree</a> with sea star and shell ornaments is priced from $67 and arrives fully assembled.
So it’s the last week before Christmas and you’ve run out of time to buy a tree or you’ve ordered online but it hasn’t arrived yet – <a target="_blank" href="https://www.mediatinker.com/blog/archives/010731#010731">grab all your hardcover books and get stacking.</a>
It’s not quite that easy, it does require some drilling through the book spine and some green paint, but it goes to show you can make a tree out of anything you have at home.
<a target="_blank" href="mailto:Ntrotman@propertyobserver.com.au">Ntrotman@propertyobserver.com.au</a>
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Christmas tree alternatives for apartment dwellers 

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Local building and investment company Sarcon will release its first stage of apartments in Brisbane’s Cannon Hill in a bid to target the undersupplied suburb.
Located six kilometres east of the Brisbane CBD, the $40 million Lime Living development will feature 95 one-, two- and three-bedroom apartments.
<img alt="Lime-Living---External-dec-12-one" height="235" width="470" src="/images/stories/2013/12/12/Lime-Living---External-dec-12-one.jpg">
“At present apartments make up only 3.2% of the total dwellings in Cannon Hill which presents a great opportunity for investors to buy into this development due to the shortage of new apartments available for sale,” says Andrew Scriven residential director at Colliers International.
One-bedroom apartments range in price from $287,500 to $295,000 and total 63 square metres in size.
Two-bedroom apartments range in price from $395,000 to $430,000 and range in size from 82 square metres to 90 square metres.
Three-bedroom apartments are 166 square metres in size and are priced at $590,000.
“On a dollar per square metre basis Lime apartments represent the best value new product in the Brisbane inner ring,” says Scriven.
<img alt="Lime-Living---Living--Dining-1-dec-12-two" height="238" width="470" src="/images/stories/2013/12/12/Lime-Living---Living--Dining-1-dec-12-two.jpg">
Two-bedroom, two-bathroom apartments make up over 80% of the project.
“A direct result of its proximity to schools, shops, services and transport combined with its current affordability and low levels of supply will position Cannon Hill as the next property hot spot,” says Scriven.
Lime Living will launch to the public in January, with construction on stage one commencing mid-2014.
<a href="mailto:ntrotman@propertyobserver.com.au" target="_blank">ntrotman@propertyobserver.com.au</a>
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Lime Living to be released in undersupplied Cannon Hill, Brisbane

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Demand has been strong for Pace Development’s latest project – Henry Windsor – with locals looking for a clean and contemporary home in the eclectic Windsor.
Located on Henry Street, the $25 million development will feature 53 one- and two-bedroom apartments across seven levels.
Sales and marketing manager Daryl Wilkinson says 20 of the apartments are currently under contract with majority of buyers being locals looking to move out of Windsor’s famous older style buildings.
Wilkinson says the marketing technique of giving Henry a personality and gender allows people to familiarize with its personality, traits and location.
“It does have a strong profile on the street and therefore gives it a bit of personality and gives ownership to the people who are purchasing an apartment,” says Wilkinson.
One-bedroom apartments are priced from $375,000 to $425,000 and start from 43 square metres internally.
Two-bedroom apartments range in size from 67 square metres to 74 square metres internally and range in size from $535,000 to $620,000.
Wilkinson says the top floor apartments were snapped up in the first week.
Apartments will feature floor to ceiling windows and buyers will have the choice of a light or dark colour scheme.
Pace Development bought The Fruit Supplies on Punt Road for $3.8 million, which will be demolished.
Construction is due to commence in March next year with completion scheduled for mid-2015.
<a href="mailto:ntrotman@propertyobserver.com.au" target="_blank">ntrotman@propertyobserver.com.au</a>
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Pace Development's Henry Windsor wooing locals with a personable approach

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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