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US bulk discount retailer Costco will open its newest store in Marsden Park in Sydney’s north-west on August 30.
The store is located within the 256 hectare Sydney Business Park precinct, and will be the bulk goods giant’s third Sydney outlet and ninth store nationwide, it said in a media release.
Spanning 13,575 sqm, the store includes a Costco fuel station, tyre centre, food court, optometrist, hearing aid services and fresh food production.
Property Observer had reported earlier that Costco that the retailer had secured a 59,830 square metre site at the business park.
The site is within the large format retail precinct at Sydney Business Park, in Marsden Park. 
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The business park spans 115,000 sqm in floor space, making it one of Australia’s biggest Large Format Retail Centres. 
Other retailers at the business park include ALDI, Baby &amp; Toddler Town, Beacon Lighting, Bunnings Warehouse, Carpet Call, Coles Express, Costco Wholesale, Forty Winks, Home Consortium Marsden Park, Home Hub Marsden Park, IKEA, JB Hi-Fi Home, Knotts Pine, Lindt Factory Outlet, Reece, Repco, Shell, Snooze, and The Good Guys.
Sydney Business Park project manager Owen Walsh said Costco joins a growing business and retail community in Marsden Park.
Sydney Business Park has secured nearly $600 million in investments to date, said the media release. 
“Costco Wholesale Australia is a welcome addition to Sydney Business Park, which is fast becoming a major shopping and warehouse distribution/ logistics destination for the region,” Walsh said.
It has an ongoing partnership with Marist 180 and Beacon Foundation to train and provide job placement opportunities and supporting local schools with businesses in the project.
“Our work with Marist 180 and the Beacon Foundation is starting to make an impact in the local community. The placement of almost 3,000 jobs, on our way to 30,000 jobs is really fast tracking the economic growth for the region,” Walsh added. 
“New retail has created new jobs and that has attracted people to relocate here to be closer to where they work or to find work. The next five years will see even more dramatic transformation with major commercial towers to be built as well as a major town centre. By 2025, the surrounding North West Growth Centre is expected to support 177,000 new residents and 61,900 new homes,” he said.
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Costco Wholesale Australia managing director Patrick Noone added that the Marsden Park store opening indicates the retailer’s growth in the Australian market.
“Since we launched in Australia a decade ago, the Costco brand continues to be a standout success thanks to consumers who love the products we stock as well as our unique business model, which provides outstanding value to our membership base.”
 
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Costco launches store in Sydney Business Park

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Investor home loans showed a monthly rise of 1.6 percent in June, while the proportion of first home buyers in terms of finance commitments also increased to 15 percent, latest data by the Australian Bureau of Statistics shows.
While the return of first home buyers is good news, APRA’s intervention to cool the heated property market isn’t biting as much going by the investor lending numbers, despite the March and June rate hikes by most banks.
<a href="https://www.propertyobserver.com.au/images/2017/08/09/ABSMain.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/09/ABSMain.png" alt=""> 
ABS data
According to ANZ research, highlights from the ABS data were:
<ul>
<li>The value of housing finance commitments (excluding owner occupier refinancing) rose 1.5% m/m in May, slowing annual growth to 7.1% y/y from 9% the previous month.</li>
<li>Investor finance segment bounced in June, with the value of investor housing up 1.6% m/m in June after falling in three of the four months prior. As a consequence of these previous declines the annual pace of growth in investor finance slowed to 5.7% in June from 8% y/y in May and down from double digit y/y growth in April.</li>
<li>The value of owner-occupier approvals (excluding refinancing) recorded the fifth consecutive monthly rise, up 1.4% m/m in June. Owner-occupier approvals (excluding refinancing) are 8.3% higher over 12 months, a slowdown from the 9.8% y/y growth recorded in May but still the second fastest annual growth since May 2016.</li>
<li>First home buyers came to the fore in June, rising 9.5% m/m to achieve annual growth of 8.5% - the highest since February 2014. Interestingly, this growth comes ahead of the new FHB schemes in NSW and VIC from 1 July.</li>
</ul>
It said the most “notable feature of the June housing finance data was the bounce in investor financing, up 1.6% m/m in value terms”. 
This was the biggest increase in investor financing since January and followed a period of reasonably steep monthly falls since then, it said. 
“However, so it’s too early to conclude it is the start of a material recovery in investor lending,” ANZ noted. 
The annual growth of investor financing slowed to 5.7% — its weakest pace since August 2016. 
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<img src="https://www.urban.com.au/images/2017/08/09/ANZFHB.png" alt="">
The shape rise in investor financing would be a disturbing development for the regulator and Reserve Bank of Australia, it said.
This was echoed by RateCity.com.au money editor Sally Tindall, who said the results show investors were still in the game.
“The APRA intervention initially took the steam out of the property market, but the latest figures confirm buyers are choosing to wear the rate hikes,” she said.
“APRA has been focused on deterring investor growth over two years now with limited success. If they’re serious about reducing the dominance of investors, APRA may have to introduce a bigger stick to fend them off.
Meanwhile, owner-occupied financing commitments (excluding owner occupier refinancing) rose a solid 1.4% m/m to be up 8.3% y/y. The ongoing growth in the value of housing finance for construction and new dwellings suggests there could be a recovery in building approvals coming after a period of weakness, added ANZ.
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 <img src="https://www.urban.com.au/images/2017/08/09/ANZFinance.png" alt="">
However, industry body Real Estate Institute of Australia (REIA) had a different take, stressing the return of first home buyers to the market.
“The proportion of first home buyers, as part of the total owner-occupied housing finance commitments, increased to 15 per cent and is the highest since February 2014,” REIA president Malcolm Gunning said.
“Overall the figures for June 2017 show, in trend terms that the number of owner-occupied finance commitments decreased by 0.2 per cent. If refinancing is excluded, in trend terms, the number of owner-occupied finance commitments increased by 0.3 per cent and is the tenth consecutive month of increases.”
In terms of trends, decreases were recorded in New South Wales, South Australia, Western Australia, Tasmania and the Northern Territory with South Australia having the largest decrease of 1.2 per cent. Increases were recorded in Queensland, Victoria and the Australian Capital Territory which had the largest increase of 1.0 per cent.
“In trend terms, the number of established dwellings purchase commitments decreased by 0.5 per cent while new dwelling construction increased by 1.9 per cent and the purchase of new dwellings increased by 1.3 per cent.
“The June figures show that the market is adjusting with owner occupiers and first home buyers returning to the market as investor activity decreases in response to the actions of the regulators and banks to limit bank lending to dampen investor demand for property,” Gunning said.
On the loan composition, RateCity’s Tindall said the percentage of fixed rate loans increased from 11.2 per cent last September to 17.5 per cent in June, the highest percentage of fixers since November 2013.
“This is a clear reaction to the out of cycle rate hikes from the banks as borrowers move to protect themselves from future increases,” she said.
“RateCity data shows that fixed rates bottomed out in November of last year, when 12.5 per cent of people fixed however it’s taken borrowers over half a year to realise the bottom of the market has passed.
“With the spring real estate market just around the corner and auction rates continuing to make modest improvements, it will be interesting to see whether it will be game on again for the spring property market,” she concluded. 
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First home buyers are back, but so are investors

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BrickX is set to diversify its portfolio of properties offered to investors with a recent acquisition in Adelaide. 
The fractional investing platform has previously concentrated on Sydney and Melbourne offerings.
They bought a two-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-sa-st+peters-125331778" target="_blank">73 Third Avenue St Peters</a> for $825,100, according to Corelogic.
The house last changed hands for $775,000 in 2015, the data showed.
The stone-fronted villa has a curved roof verandah forming an outdoor pavilion and an alfresco living room.
The property was last advertised for rent at $540 per week. 
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In an email to its investors, BrickX said a diversified portfolio helps manage the trade-off between risk and reward. 
So far, BrickX had focussed on properties in Sydney and Melbourne only. It has bought 13 properties so far, with most in Sydney.
BrickX divides each property it acquires into 10,000 units it calls ‘Bricks’ and offers them to investors. 
It last bought a house in Sydney’s Balmain, offering the initial ‘brick’ at $140 each.
In its email to investors, BrickX said that Australian capital cities and even individual suburbs have their own unique property cycles. 
“Many different factors affect the performance of these individual markets so they don’t all behave in the same way, at the same time. Our launch into a third capital city provides our Members with the opportunity to diversify further.”
During the release of its six-monthly valuations in July, BrickX said the Annandale house rose in value by 7.4 per cent in the last six months, the most for any of its acquisitions. 
The Brickx buying team recently noted Adelaide's strong fundamentals with highest amount of Government project and infrastructure spend per person than any other capital city.
It also noted property was the most affordable it has been for 8 years and the housing market was building momentum.
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BrickX looks south to Adelaide for next property

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A site housing a half-a-century old meat company based in Sydney’s fringe suburb of Glebe has sold for for $23,580,000 to a local Chinese developer, AVP Developments Pty Ltd.
‘The Glenmore’, at <a href="https://www.colliers.com.au/news/2017/new-chapter-for-historic-glebe/" target="_blank">40-46 Wentworth Park Road</a>, currently houses the Glenmore Meat Company.
The Glenmore Meat Company became popular with Sydney-siders, with its origins dating back half a century to a small meat company based in Paddington’s Glenmore Road. It was founded in 1967.
The 2,034 sqm site was being marketed by Colliers International’s Ryan Bennetts and Guillaume Volz through an expressions of interest campaign that closed on May 24. It was expected to fetch around $20 million.
According to the selling agents, there were 26 bids and more than 250 enquiries and several bids exceeded the price expectations.
“The Glenmore was one of the most hotly contested development sites we’ve seen this year,” said Ryan Bennetts.
“Glebe is shaping up as one of Sydney’s most desirable residential markets given its proximity to the CBD, walking distance to Sydney’s leading universities and upcoming rejuvenation of White Bay and the Fish Market precinct.”
The suburb is well positioned to take advantage of the redevelopment of the Bays Precinct, which is expected to become a hub of enterprise, activity and beautiful spaces.
Bennetts added that the sale and interest in the site showed developer preference for owner-occupier style product with townhouses most likely for the site, particularly with a scarcity of the townhouse-style product amid many high-density projects in the area.
The sale follows the success of the Roxy-Pacific development West End Residences nearby, which sold 70 percent of the apartments on its first day of launch on April 1.
Located just 3 km south-west of the Sydney CBD, Glebe was traditionally regarded as a working class suburb on the city fringe, but over time has emerged as a hotspot for tertiary education, retail and community living.  
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Glenmore Meat Co site in Sydney's Glebe sells to Chinese buyer for over $23.5 million 

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Technology firms have become a key driver of Sydney CBD office demand, according to recent research by property firm Cushman &amp; Wakefield.
Macquarie Park, previously Sydney’s main tech hub, has been displaced by the CBD because of the growth in cloud computing, technological innovation in a range of service industries and a desire to attract and retain the best talent to offices which are strongly serviced by public transport and close to retail precincts, says Cushman &amp; Wakefield’s Tech and the city report.
In fact, tech is expected to take over from the finance and insurance sector as the key driver of CBD office demand in Sydney. Demand from tech companies for CBD space is expected to grow more than three times that of the finance and insurance sector over the next five years, it says. 
“Large tech firms taking up residence in Martin Place over the past few years has been a well told story for the Sydney CBD office market. However, rise of tech firms in the CBD has been much broader based with many smaller firms taking up space across the CBD,” it says.
Over the past few years Apple, Dropbox and LinkedIn have taken up office space in Martin Place, but the expansion of tech firms in the CBD has been much broader based. 
Cushman &amp; Wakefield Research identified around 40 leases signed by tech companies over the past 12 months across the CBD, in building grades ranging from Premium to C. Lease size varied considerably also with space requirements ranging from 100 sq m to over 17,000 sq m. 
<a href="https://www.propertyobserver.com.au/images/2017/07/31/Tech-main.jpg" target="_blank">Click to enlarge</a>
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The range of tech tenants that have taken up space highlights the diversity of the sector. While LinkedIn is known for social media, Amazon for e-commerce and Apple for products such as phones, tablets and computers, tech is extending its reach into a variety of service sectors. For example, tech tenants that have recently leased space in the CBD have areas of speciality including labour hire; education; travel; expense management; digital forensics; online security; trading and portfolio management. 
The largest overall lease, recently completed by Cushman &amp; Wakefield, is the +17,000 sq m Sydney Startup Hub at Wynyard Green which is expected to open its doors in Q4 2017. While not specifically a tech tenant, the Startup Hub is a NSW Government initiative to create a startup and innovation centre and most of the residents are likely to be tech orientated. 
Service sector and tech driving Sydney CBD office demand 
Office demand in the Sydney CBD has traditionally been driven by the ups and downs of financial markets. With around 30% of the CBD workforce employed in the Finance and Insurance sector, changes in CBD office demand have historically been correlated with share market performance. However, in recent years the relationship has broken down with relatively strong demand for office space despite soft share market performance. 
But while the finance sector accounts for a large part of the CBD workforce, an even larger percentage, about 40%, are employed in other service sectors such as Professional, Scientific and Technical Services, Admin and Support, Real Estate and Information Media and Telecommunications. These sectors are currently doing well, as indicated by the NAB Business Conditions Survey (Figure 2), which is near a 10 year high and is helping to drive relatively strong employment growth (Figure 3). 
<a href="https://www.propertyobserver.com.au/images/2017/07/31/Tech2.png" target="_blank">Click to enlarge</a>
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Why do tech tenants now favour the CBD? 
For many years, Sydney’s tech hub was Macquarie Park. This was driven by a range of factors such as a desire to create a Silicon Valley/Stamford University type research and innovation relationship with Macquarie University, campus style office accommodation and access to warehousing space for inventory. 
However, software applications are now usually supplied over the web rather than on disks and with people the major asset of tech firms, management are keen to establish a work environment to attract and retain the best talent. 
The Cushman &amp; Wakefield 2017 office leasing: Trends and Outlook survey noted that proximity to public transport and retail amenities were primary considerations for tenants. With many tech firms operating globally on a 24/7 basis, the CBD offers the best access to Sydney’s transport network and excellent retail amenities. 
<a href="https://www.propertyobserver.com.au/images/2017/07/31/Tech4.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/07/31/Tech4.png" alt="">
Future growth 
With technology being increasingly integrated into all aspects of our lives, employment growth and demand for office space associated with the tech sector is likely to continue to grow. 
Deloitte Access Economics has forecast that Sydney CBD employment growth in the two sectors primarily associated with technology, i.e. Professional, Scientific and Technical Services and Information Technology and Telecommunications, is forecast to average 2.5% pa over the next five years, compared to 0.8% pa for the Finance and Insurance sector (Figure 5).
<a href="https://www.propertyobserver.com.au/images/2017/07/31/Tech5.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/07/31/Tech5.png" alt="">
This equates approximately to an additional 12,000 ‘Tech Service’ jobs compared to about 3,750 finance roles or, at 8 sq m per person, a requirement for about 96,000 sq m of Tech Service space compared to 30,000 sq m finance space. However, it should be noted Finance and Insurance sector roles are increasingly tech related as the industry becomes more automated. 
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Tech companies to drive Sydney CBD office tenancy: Cushman & Wakefield

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A Chinese investor has snapped up a Melbourne CBD property, best known as the home of the Melbourne Theosophical Society, for an undisclosed sum though the selling agents from Savills said the yield was below 1 percent.
The 124-130 Russell Street building was fully leased, with short-term tenancies in place. It was expected to fetch around $20 million when it was listed in June.
The Society held the building for 45 years. MTS paid $180,000 for the property in 1972.
The recent transaction was through Nick Peden, Clinton Baxter and Benson Zhou of Savills. The transaction manager was David O’Callaghan of O’Callaghan Commercial. 
Peden said the property attracted strong investor and developer demand, with buyers flying in from interstate, China and South-East Asia to view the property. 
“Many local buyers were extremely keen to purchase this property, but they simply couldn’t match the fire-power of cashed-up private investors from Asia with the leading contenders in this instance being from Malaysia and China,” he said.
“We received intense interest in this asset from many potential buyers with the key attractions being the property’s super-prime position directly opposite the QT Hotel, its wide retail exposure, proximity to Melbourne’s retail core, and various opportunities to add-value once MTS relocates from the premises,” he said.
The property was sold following an expressions of interest campaign. 
Peden added that strategic east-end CBD properties are well positioned to profit from the apartment and population boom in central Melbourne, which will also lead to greater retail spending throughout the city in coming years.
The 1,654 square metre, five level, retail and office building sits on a 519 sqm site, zoned Capital City, with frontages to Russell Street and Melbourne Place.
It made a passing net income of nearly $159,566 per annum.
Baxter said pent-up demand for CBD properties in the $10-$30 million price bracket is quite pronounced with a tsunami of capital from Asia endeavouring to secure prime properties throughout the Melbourne commercial market.
 
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Melbourne Theosophical Society building bought by Chinese investor: Savills

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Amid the concerns around investing in property and shares, super funds as an asset class have in general delivered double-digit returns, according to two research groups.
Super funds delivered an average 10.7 per cent return for the year to June 30, 2017, marking the eighth consecutive year of positive growth, according to research group Chant West.
Even among the super funds, industry funds performed best, returning an average of 11.1 per cent. Meanwhile, for-profit retail super funds returned 9.7 per cent, meaning industry funds outperformed their competitors for all periods out to 15 years.
The funds were resilient even in the face of political and economic shocks such as  the election of Donald Trump as US President and Brexit.
"It's been a really interesting and, in many ways, surprising year because this strong result has been achieved against a backdrop of considerable uncertainty, both political and economic,” Chant West director Warren Chant said. 
“It just shows how markets – which represent the combined views of thousands of professional investors – are able to cut through the 'noise' and focus on the investment fundamentals.”
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<img src="https://www.urban.com.au/images/2017/07/20/ChantWest.png" alt="">
Rival researcher, SuperRatings, came up with similar results, with the average fund return for last financial year topping 10.4%. 
SuperRatings estimates that $140 billion has been added to super accounts in investment earnings for the year.
“At a time when inflation hovers below 2% per annum, Australian super funds continue to far exceed expectations, with accrued earnings of well over 100% since the end of the GFC. Over the last 5 years alone, funds have averaged 10% earnings every year, more than erasing the pain of the GFC and putting retirees in a significantly improved position than they could ever have hoped for,” said Jeff Bresnahan, SuperRatings chairman.
Industry fund Hostplus topped the list with a 13.2 per cent return, with even the worst-performing fund in the median-growth category delivering 7.4 per cent, according to Chant West.
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<img src="https://www.urban.com.au/images/2017/07/20/SuperRatings.png" alt=""> 
Funds in the median growth category have 61 per cent to 80 per cent allocation to growth assets and are usually the preferred ones. 
Funds that excelled this year tended to go against the investment trend, by having higher allocations to unlisted assets, which traditionally come at a significantly higher cost than the increasingly popular passive strategies, said SuperRatings in a media release. 
“This once again debunks the argument that low cost investment strategies are good for Australians. Low cost passive strategies will only guarantee chronic regular underperformance, which will impact retirement benefits for all Australians and undermine the superannuation system.”
The top 10 performing funds in 2016/17 covered more than 6 million Australians and all exceeded the SuperRatings’ Industry Benchmark of 10.4%, it said.
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<img src="https://www.urban.com.au/images/2017/07/20/SuperRatingsOverall.png" alt="">
The key points to note for the 2016/17 financial year, according to Chant West were.
<ul>
<li>Hedged international shares were the strongest performing asset sector, surging 18.9%. However, the appreciation of the Australian dollar pulled this return back to 14.7% in unhedged terms.</li>
<li>Australian shares performed strongly with a return of 13.8%.</li>
<li>After being the strongest performer in 2015/16, Australian listed property was the worst performing sector this year, falling 5.6%. Global listed property fared better, but still returned just 2.2%. Unlisted property, on the other hand, had another solid year, up 10.3%.</li>
<li>Infrastructure also performed well, with global listed infrastructure up 11.1% and unlisted infrastructure delivering returns in the low teens. Private equity also provided a healthy return of 11.3%.</li>
<li>The traditional defensive asset sectors yielded very low returns. Australian and international bonds barely made it into positive territory with returns of 0.2% and 0.5%, respectively, while the return from cash was just 1.8%.</li>
</ul>
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Super funds deliver double-digit returns for eighth year in a row

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South Australia’s economy got a $38 million economic boost from Airbnb in the 2016 financial year, with guests on the shared accommodation platform spending more than the average tourist, according to research from Deloitte Access Economics.
The report noted that 64,100 guests were booked in for 109,000 nights in Adelaide and regional towns across the state through Airbnb. The spurt to tourism supported more than 400 jobs in addition to the activities of hosts. 
Airbnb guests contributed $38 million to South Australia’s economy (Gross State Product) in the in 2015-16 financial year, according to the report titled Economic effects of Airbnb in Australia, South Australia. 
Survey data showed that its guests spend more than the average tourist, with Airbnb guests spending $237 per night on average, and general overnight visitors spending $146 per night.
The report noted that one of the drivers of Airbnb growth has been creating lower cost accommodation options.
“We estimate a cost saving of around $26 million in 2015-16 for guests staying in Sydney who might otherwise have stayed in traditional accommodation,” said the report’s authors.
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 <img src="https://www.urban.com.au/images/2017/07/17/AirbnbSA.png" alt="">
Hosts in the state earned a median income of $4390 for the 12-month period, it said.
And the platform seems to be ever popular, with the average star rating for Airbnb listings across South Australia being 4.7 out of 5.
And its popularity is not limited to cities. A recent survey released by the peer-to-peer accommodation platform showed that more than half of its bookings in Australia are now for stays in country towns or coastal ­resorts.
Since launching in 2012, Airbnb has facilitated over 1.3 million short stays in Australian cities and more than 150 million guests, including over 2.5 million Australian guests, are currently on the platform, it said.
The report said Airbnb can also assist the government in meeting another key objective of Tourism 2020 – increasing overnight spend to $140 billion by 2020. As at February 2017, tourism expenditure had tracked 38 per cent towards the upper bound Tourism 2020 goal.
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Airbnb injected $38 million into SA economy in 2015-16: Deloitte research

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Fractional property investing platform BrickX has updated the valuations for six of its properties in Sydney and Melbourne, with growth varying from 0 to 7.4 per cent.
The valuations were done by independent valuation firm Preston Rowe Paterson in June 2017.
BrickX, which buys properties and splits each one into 10,000 units or ‘Bricks’ which investors can then buy, has been on a buying spree in the last few months. It purchased six properties between April and June, five in Sydney and one in Melbourne.
In its year-end sale, the investing platform waived the transaction fees for buying or pre-ordering ‘bricks’ for its Brunswick property (above). The company charges a the transaction fee of 1.75% on every purchase of ‘brick’ or while selling ‘bricks’.  
The biggest change in valuation was for a two-bedroom house in Annandale, where the property value rose 7.4 per cent in the last six months to $1.45 million as at June. The growth was in line with the wider suburb index, BrickX said.
Brick valuation increased 8.81 per cent to $112.84, taking into account the acquisition costs and cash reserve, BrickX said. 
Meanwhile, a one-bedroom unit in the Sydney suburb of Enmore remained constant at $650,000 compared with six months before. In fact, the new value of a ‘brick’ is $67.48, a slight fall from December’s $67.82. The same was the case with a two-bedroom unit at Mosman, which was steady from its December valuation. 
The property was valued at $1.4 million in June while the ‘brick’ price actually edged down 0.51 percent to $143.43 per ‘brick’.
Among other properties with notable growth was a two-bedroom unit in Bondi Beach, which increased 3.7 percent in value to $1.4 million from its initial purchase price of $1.35 million. BrickX said the growth was also in line with the overall growth in the suburb.
The brick price rose to $100.19 from an initial $96.
Another two-bedroom unit in Double Bay showed a growth of 3.4 percent in value at $1.35 million on the initial purchase price in September 2016. This property exceeded the suburb index, said BrickX.
The value of a ‘brick’ is now $98.46, a 3.64 percent increase from the initial $95.
The only property with an updated valuation from Melbourne, was in Prahran. This two-bedroom unit rose 1.3 percent to $1.19 million and BrickX said it performed in line with the wider suburb index. 
The ‘brick’ also rose a modest 0.44 percent to $123.88.
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Annandale house provides biggest boost to BrickX investors with 7.4 percent growth in six months

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Proptech company Peer Estate has raised $2.5 million online for a development site in Port Melbourne.
There was no “offline” raising at all, Peer Estate said in a media release.  
Peer Estate, backed by real estate investment manager Qualitas, says it is Australia's first peer-to-peer real estate marketplace. 
It allows everyday investors to invest in major property deals, which is significant at a time when banks are cracking down on investor loans. 
Investors can put in as little as $5000, which is then combined with other investors and the pooled in funds are lent to owners and property developers. 
Investors earn returns through the interest they pay.
Peer Estate CEO and founder, Adam Broder, said he was surprised the investment offer was fully subscribed after just 2 hours of launch. 
“This validated our model and belief that investors are willing to transact in the peer-to-peer lending space, solely online,” he said.
“Our investors see the benefit of good risk adjusted returns being able to provide lowly leveraged loans into a sector that the banks find difficult.”
He said loans are approved within a week and underwritten for security.
“Whilst we are only open to Wholesale Investors, many of our investors do not have the access and ability to invest alongside Family Offices and Pension Funds in these traditionally private investment options. Peer Estate provides this access,” he said.
Features of the investment include, as per Peer Estate:
<ul>
<li> First mortgage on inner Melbourne development site (Port Melbourne)</li>
<li> 10% interest net to investors paid monthly</li>
<li> LVR of 60%</li>
<li> Maximum term of 12 months</li>
<li> Already underwritten and settled by Peer Estate</li>
<li> Planning permit secured and in place</li>
</ul>
</body></html>

Peer-to-peer real estate marketplace raises $2.5 million for Port Melbourne development site

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Prateek Chatterjee

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