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Since the global financial crisis hit in 2008, our top-end property markets have been the major casualty, with corrections in values of up to 30%. Each and every time a pricing guide was drawn in the sand, a new wave of destruction came crashing in and brought about the ongoing value retreat. It should be noted, however, that the top-end value correction was nowhere as severe as that experienced in the recession of the early 1990s.
For the prestige property markets to show signs of recovery, it will be necessary for the elite property markets to start posting anecdotal sales evidence – only then can the rest of the adjoining suburbs can follow suit. Mosman is the elite suburb north of the Harbour Bridge, which explains why it attracts so much attention and scrutiny. So it was a “good news week” for Mosman’s top end when it was reported <a href="https://www.propertyobserver.com.au/new-south-wales/western-australian-buyer-pays-%24101-million-for-mosman-harbourfront/2012080755890">Western Australian buyer pays $10.1 million for Mosman harbourfront</a> – congratulations to our very own Richard Simeon and Mark Manners who negotiated the sale. Before the market gets too carried away, what is required now is further sales evidence. What makes this sale all the more interesting is that mysterious line in the sand – where does the market believe that the top end has bottomed?
Adding to the intrigue is that prior to the GFC, Mosman buyers found it nearly impossible to compete with merchant bankers. Today, the local buyers are now competing with Chinese buyers, who are expressing an insatiable desire for the 2088 postcode! The next four months will be riveting for top-end properties, and we are predicting that this market is in recovery mode (albeit a modest one). More importantly, the dots are now aligning and vendors can and will have a greater part to play in the negotiations.
Watch – wait and see.
Robert Simeon is a director of <a target="_blank" href="https://www.rwm.com.au/" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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robertsimeon-hRNTwJyXkQ

Mosman market could be beginning to recover

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Kudos to the team at Channel 9’s The Block, with series 2012 resurrecting renovation reality television from that great big tip of consumer ratings demolition. It was indeed a brave and costly decision for the 9 network to raise the tools again following last year’s dismal failure (season four). The huge mistakes made in season four (primarily wrong location) were reflected in lacklustre auction results resulting in the show’s foundations collapsing before the viewers’ very eyes.
Following the trainwreck finish to season four I wrote <a target="_blank" href="https://www.propertyobserver.com.au/renovating/lack-of-experience-research-and-planning-a-problem-with-reno-tv/2011101351924">Lack of experience, research and planning a problem with reno TV</a>:  “Whenever I have watched reality shows what resonates most with me is an obvious lack of due diligence. How can you have an advertising campaign that any other vendor in Australia would dream of only to see failure and disappointment on auction day?”
Season five went for the golden rule of real estate – position, position, position, resulting in a trendier South Melbourne with no better formula than four double-storey terrace homes. A ratings bonanza, given The Block filled the top three Sunday night rating spots:
Winner announcement 2,715,000
Auction 2,459,000
Grand finale 2,145,000
Season four was a classic example of get the location wrong and disaster will quickly follow, as was evidenced in the contestant’s financial rewards:
Josh and Jenna: $50,000
Polly and Waz: $15,000 + $100,000 winner’s prize money
Amie and Katrina: $0
Rod and Tania: $72,000
Season five was laid on much stronger foundations with an eclectic mix of would-be home renovators (some paint brush virgins), which added to the show’s intrigue. Nonetheless it made for great viewing, and that is what the ethos of the show is all about – viewer bums on couches.
In all fairness the Melbourne property market is in all probability weaker in season five than in season four, yet the end results were vastly different.
Lara and Brad: $506,000 + $100,000 winner’s prize money
Dani and Dan: $448,000
Sophie and Dale: $355,000
Mike and Andrew: $434,001.01
This was not a case of timing, rather identifying a location that attracts mass consumer appeal – we also observed for the first time prospective under-bidders moving from one property (when sold) to the next property, which is almost unheard of.
The moral of the story is you get what you pay for, and season four contestants would be feeling somewhat annoyed that buyers won’t pay premium prices for real estate that is not in the right location – no matter how great the final product.
Having said that, for all those wannabe pseudo up-and-coming property developers all the properties in seasons four and five were sold for well below replacement values, which is sometimes construed as market value. Replacement and market values are two vastly different commodities that bear no resemblance – more particularly if you are funding both (which is not the case with The Block.)
The Block represents excellent market value for Channel 9 however, for those planning their very own renovation extravaganzas there are no silver linings. Real estate is long term, not short term, that’s the long and the short of it.
There will be two series of The Block in 2013 – and the 9 network has well and truly strengthened the show’s foundations. Let’s hope that when the producers learnt to position the show as a ratings winner, this very same formula also applies to the properties’ addresses.
Otherwise it will be season four all over again.
Robert Simeon is a director of <a title="RWM" target="_blank" href="https://www.rwm.com.au/">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a title="Virtual Realty News" target="_blank" href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
Property Observer readers can download<a href="http://propertyobserver.com.au/ebooks/free-ebook-lessons-from-the-block-and-other-property-reality-television-shows." target="_blank" style="font-size: 14px; text-align: left;"> a free ebook on renovation and reality television</a>.
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The Block 2012 followed the golden rule of real estate, although the Melbourne market was weaker

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Australia today is missing a hidden key ingredient in identifying just why our productivity remains in a spiralling decline. As a real estate agent, I speak with many purchasers on a daily basis, and a common theme keeps resonating through – yes, we are experiencing a mining boom. But on the other hand we are clearly right in the middle of a “white-collar” recession, which clearly identifies a conservative economic holding pattern while weathering this storm.
It is an unknown of whether this storm will pass with minimal damage or inflict massive destruction of cyclonic proportions. Personally, I lean towards a holding pattern that will deliver minimal growth with households continuing to suppress expenditure.
Many businesses are facing savage headwinds in the form of a strong Australian dollar and consumers reducing their household spending while focusing on being actively employed until our markets start performing again – which, in all probability, could be until the next federal election in 18 months.
Productivity growth has been weak in recent years, which has lowered Australia’s potential growth rate. Our estimates suggest potential growth was 3.5% to 3.75% per annum for 2000 to 2005, but it is closer to 2.5% to 2.75% now. Without a pick-up in productivity, Australia will probably have to accept lower GDP growth, higher unemployment and higher interest rates.
Construction for new home starts in the December quarter came in at 33,700, which is equivalent to the number of starts recorded in the early 1970s. Reserve Bank of Australia deputy governor Philip Lowe recently noted that the GFC has brought about a consumer mood swing, and the days of inflating earnings by relying on capital gains in assets are no longer. Households are now experiencing life after an unprecedented two decades of economic growth.
GDP growth has been below 3% since 2008, inflation sits around the RBA mid-point of 2.5%, unemployment remains static with a possibility it may start spiking upwards, and house prices, just like share prices, indicate clearly we have asset price deflation. RP Data announced that in the December quarter 2011 that 6.4% of homes were in negative equity, up from 4.9% in the previous quarter.
This statistic identifies why I am against first-home buyer’s grants given we are not building enough properties to meet demand – hence upward spiralling rents. These grants are much like throwing lollies on to a highway – resulting in huge road toll.
The Gillard government is abolishing the popular living away from home allowance (LAFHA) from July 2012 – Treasurer Wayne Swan said “the tax exemption for living away from home was being rorted by highly paid executives and foreign workers”. So at a time when we have a severe skills shortage within Australia from July, Australia won’t be able to attract any overseas employees? This will then place Australian businesses under greater pressures given these 457 visa holders will now seek employment elsewhere outside Australia. The government will save approximately $350 million based on a $7 billion shortfall in tax revenues in 2011-12.
This decision will have a huge impact on rental markets as 457 visa holders leave our shores – this will definitely impact our rental markets (especially houses.) The LAFHA will significantly impact many businesses, as this was previously used to entice overseas staff to Australian businesses due to our skills shortage. The result will be that Australian businesses will be faced with higher costs, which in turn will result in lower productivity given that they will remove this facility from their business models.
This decision comes at a time when finally NSW is out-performing all the other non-mining states for the first time in over a decade. Analysis of the national accounts identifies that for the 11 years before June 2011, NSW’s annualised demand growth was a percentage point lower than all the other non-mining states.
The O’Farrell NSW government is finally looking at reducing its exorbitant payroll tax rate, which currently stands at 5.45%. This is hardly completive with Victoria at 4.9% and Queensland at 4.75%.
Given the Gillard government’s decision to scrap the LAFHA, NSW urgently needs to assist business by enticing employees to what was once considered Australia’s greatest state. I refused to use “premier state” given the previous premiers helped destroy it.
Look no further than last weekend’s Queensland election to see how an unhappy electorate can destroy a once strong and proud political party. Queensland Labor, just like NSW Labor, will in all probability never recover.
It all comes down to taking care of business – they pay the bills and the taxes (as do their employees).
Not since the recession of the early 1990s has Australia seen such a “white-collar” economic malfunction, The RBA needs to act immediately and shave aggressively 125 basis points from the cash rate.
If the RBA is independent, why does the elected federal government appoint all the board members?
 
Robert Simeon is a director of <a title="RWM" target="_blank" href="https://www.rwm.com.au/">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a title="Virtual Realty News" target="_blank" href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
 
 
 
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Government changes and interest rate cuts needed to fight Australia’s white-collar recession

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A recent report by the Australian government, State of Australian Cities 2011, identifies the problems being faced by federal and state governments and also councils, where they now need to completely rethink their long-term masterplans. Australia’s population has grown by 3 million in the past decade, yet productivity growth has slowed and then declined since 1998.
Working in Sydney’s CBD was a must 20 years ago, however today councils need to rezone (suitable) areas into medium commercial zones. If you bring the businesses to the area all the other businesses feed off this nine-to-five injection of people. We are already seeing today a huge closure rate of small businesses – retail, thanks to the internet, is dying on the vine. Councils need to place businesses and people above these retail outlets to inject new life to what are becoming retail ghost suburbs.
North Sydney Council has been most proactive, as over the past 10 years North Sydney has been vibrant by day yet dormant at night. To counteract this approximately half a dozen new apartment developments have recently been approved. As a result North Sydney will flourish as it is blending commercial developments with the latest state-of-the-art high- and medium-residential buildings.
On Sydney’s lower north shore the buzz suburb is definitely Neutral Bay, where it is busy by day and even busier at night. The suburb is in harmony with commercial buildings and residential apartment developments. I would think that it would be one of the few suburbs in Australia that boasts two Woolworths stores and a Coles store. On the other hand Mosman does not have a Woolworths or a Coles store.  Some may argue that this is a good thing, although I would argue that there is anecdotal evidence that these stores strengthen the surrounding businesses, as they put “backsides on seats”.
Mosman Council recently announced the Spit Junction masterplan – Spit Junction is Mosman’s primary business centre located around the intersection of busy Spit and Military roads. The Spit Junction  masterplan is an opportunity to revitalise Spit Junction and make it more amenable to the community. The project involves the:
<ul>
<li>Preparation of a masterplan for Spit Junction; and </li>
<li>Feasibility study for the Mosman Civic Centre sites.</li>
</ul>
I would personally like to see all the properties along Spit Road rezoned to accommodate medium commercial with ground floor retail and restaurant outlets to cater for the nine-to-five workers and at night the local residents would enjoy this new lifestyle experience. Another point is that such developments would allow businesses to relocate back to the suburb, which is exactly where they should be headed. Traffic congestion keeps getting worse and fuel costs keep rising with workers spending less time at home due to traffic congestion.
Over the next 20 years or so we can expect to see councils working to embrace our lifestyle changes where they will seek to balance their communities with a successful blending of all these components. If they don’t their retail strips will look like nothing more than pop-up temporary retail outlets.
With the Spit Junction masterplan Mosman Council design a mix of commercial, residential and retail that blends together with consistent design and planning controls.
It does not matter which suburb you reside in – what may have been the go 20 or 30 years ago is not the way society is headed in the 21st century.
I’ve been fortunate enough to work in the suburbs for over twenty five years, and I could never again return the Sydney CBD. With councils now looking at accommodating the nine-to-five markets, they are actually revitalising their communities.
There is a strong possibility that once you could live in a community but could not work in it – times are changing, and for all the right reasons.
Keeping up with the times has always been the challenge.
Robert Simeon is a director of <a title="RWM" target="_blank" href="https://www.rwm.com.au/">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a title="Virtual Realty News" target="_blank" href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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Councils must encourage a mix of commercial and residential to keep suburbs vibrant

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This Tuesday we have our first Reserve Bank of Australia meeting for 2012, where it would come as no great surprise if the bank leaves the cash rate at 4.25%. The RBA is well aware that Australian banks’ funding is under great pressure as a result of the global financial crisis to the extent that our banks have already forewarned that if the cash rate is reduced it is highly unlikely they will pass on such cuts. I agree with former RBA board member Warwick McKibbin that the bank should wait until the European debt crisis is sorted out – “it’s better you have your weapon loaded so when the crisis comes, you can hit it with full force.”
So how low will the RBA cash rate go in 2012? I am tipping three rate reductions, reducing the cash rate site to 3.25% by the year’s end. On April 9, 2009 the RBA dropped the cash rate to 3%, so I can’t see it dropping below that. We need to remember that in Australia approximately one-third of households rent, the other third own with a mortgage and the final third own without a mortgage.
Australia is most fortunate that our banks are among the top performing in the world – as too our property markets. Three years ago the American property market was so weak the US Federal Reserve cut the official interest rate to zero. This week it announced that it plans to keep interest rates at near zero until the end of 2014. A cash rate that hovers around zero means exactly that –  nothing really happens to the extent that the economy is fundamentally broken with no signs of recovery in the short term. If this were to happen in Australia the economic consequences would indeed be dire and property values would plummet with the unemployment rate skyrocketing.
<img src="/images/stories/simeon1.jpg">
<img src="/images/stories/simeon2.jpg">
<img src="/images/stories/simeon3.jpg">
 
In Australia the property data aggregators (Australia Bureau of Statistics, Residex, Australian Property Monitors and RP Data-Rismark) all <a href="https://www.propertyobserver.com.au/residential/divergent-housing-data-raises-more-questions-than-answers/2012020153216">offer conflicting market positions</a> that <a href="https://www.propertyobserver.com.au/residential/december-quarter-housing-data-roundup-four-sets-of-statistics-give-divergent-outlooks/2012020153215">confuse the markets</a> – then <a href="https://www.propertyobserver.com.au/residential/sydney-and-melbourne-more-affordable-than-demographia-suggests/2012012953158">throw in Demographia International</a> to complete our “dog’s breakfast”.
I use a much more simple application. My demographic market is Mosman, which has approximately 4,900 houses. I go to Domain and untick surrounding suburbs and then tick houses, where I see that 102 houses are currently on the market, which is approximately 2% – in 2011 Mosman never went higher than 3%. If a property market gets above 10% you then have serious problems and prices will suffer significant collapses.
Another point that needs to be raised is the Chinese factor, which was highlighted in a recent article that appeared in Property Observer – “Harry Triguboff says Chinese buyers back in Sydney market in January: Gottliebsen”. An article appeared in the China Daily last week “Real estate down under proving to be very attractive”: “Chinese investors are showing an increasing high level of interest in the Australian property market. Chinese developers were responsible for 9% of the 30% share foreign developers took in the Australian apartment market last year.”
“In a review by real estate company CBRE for the fourth quarter, more than 1,200 apartments were either planned, being marketed or were under construction by Chinese companies in Australia. The Chinese mainland was only led by Singapore (37%), Hong Kong (20%) and Malaysia (12%).”
“The biggest markets sit along the east coast in Australia’s two largest cities: Melbourne and Sydney. About 80% of the total number of apartments proposed or under construction by foreign developers was located in these two cities.”
So after four years of financial turmoil Australia does have something to smile about although 2012 will be a tough year. Money will be tight, but that is not a bad thing either given it allows property niche markets to consolidate.
Australia is building momentum, which can’t be said for the northern hemisphere markets. 
Robert Simeon is a director of <a title="RWM" target="_blank" href="https://www.rwm.com.au/">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a title="Virtual Realty News" target="_blank" href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
 
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Australia is building momentum, and property markets will stay stable

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When the Reserve Bank of Australia lowered the official cash rate by 25 basis points on December 6 it was very interesting to watch how the major banks tried to handle the RBA’s decision on Twitter – which I believe was poorly handled. Here are their tweets.
December 6
@ANZ _AU: “Hi there, our rates are under review – we will keep you posted. Thanks ^LG.” This was posted a further seven times.
@nab: “rates are under review.” This was posted a further eight times.
@CommBank: “Our rates are under review and we’re carefully considering the impact of the RBA’s announcement on all our products.” This was posted a further 11 times.
@Westpac: No tweets
December 7
@ANZ –AU: “Hi there, rates are still being reviewed. We’ll let you know once a decision has been made.” This was posted a further seven times.
@nab: one update
@CommBank: 18 more updates
@Westpac: “Our rates remain under review, we know this has big implications for your home loan &amp; savings, we’ll let you know as soon as we do.” One update
December 8
seven more updates then @anz_media: “ANZ cuts rates for mortgages and small business lending by 0.25%”
@nab: seven more updates then “We’ve just confirmed a 0.25% cut to the variable mortgage rate and business loan rates.
@CommBank: two more updates then “We are lowering our Standard Variable Home Interest Rates by 0.25% to 7.31% effective for new and existing customers from 19 Dec 2011.
@Westpac: “We’re happy to pass on the full RBA interest rate cut for home and business lending by 0.25%
The Treasurer Wayne Swan @SwannyDPM was busy tweeting to his followers.
“A great early Christmas present for ANZ customers today. Heat is now really on NAB, Westpac &amp; CBA to do the right thing by their customers.” Then “NAB also doing the right thing by their customers with full 25 point rate cut. Heat just gone up another notch on Westpac and CBA.” Followed by “Good news for CBA home loan customers this evening too. Westpac customers deserve their bank to do the right thing as well.” Finally, “CBA has done the right thing for its home loan customers, that just leaves Westpac out there facing a massive backlash from its customers. “
ANZ then announced that it will now review its rates on the second Friday of every month, which prompted me to write on my final blog for 2012. “ANZ shifts to monthly rates review where it is now set to sever the long-standing link between official interest rates set by the RBA and the rates customers pay on their mortgages. This decision questions the relevance of the RBA, if banks are to decide independently, what their cash rate will be. This has the potential to become ugly, and I see ‘bank bashing’ alive and well in 2012. On the one hand we will have bank advertising campaigns of those warm and fuzzy happy family moments and on the other, journalists and social media beating the living daylights out of their reputations. The latter will win hands down.”
<a target="_blank" href="https://www.propertyobserver.com.au/trends/real-estate-businesses-must-make-the-most-of-the-web-or-be-left-behind/2011102352031">Social media is now a huge voice</a> where one only has to look at the #VileKyle trending on Twitter last month where over 30,000 signed an online petition demanding he be dumped following his ugly spray at a journalist. Online polls went into meltdown. The result? Mazda, Telstra, Harvey Norman, Fantastic Furniture, Blackmores, Crazy John’s, Vodafone and Good Guys withdrew their sponsorship.
This was the very first social media online protest march Australia has ever seen before where it worked wonders and yes – I did sign the petition, too. Absolutely no doubt the major banks took notice too.
Twitter Statistics 2011 reveal 1 billion tweets posted per week, three years, two months and one day the time in between the first tweet and the billionth tweet, 177 million tweets sent on March 11, 2011, 456 tweets per second (TPS) when Michael Jackson died on June 25, 2009 (a record at the time) and 6,939 current TPS record, set four seconds after midnight in Japan on New Year’s Day.
Our big four banks are not performing well on Twitter – @CBA has 2,284 followers with 234 tweets, @Westpac 8,658 followers with 2,944 tweets, @ANZ 1,746 followers with 1,000 tweets and @nab 8,279 followers with 4,444 tweets.
So I was interested to see this week when I received a direct message from ANZ_AU – “Hi, this is automated but we’re here to help 9 – 5.30 pm Mon – Fri (AEST) in accordance with our Twitter service terms.”
Now that is a first so watch the other three follow suit as they battle to attract followers given their ability to attract followers thus far can only be described as very ordinary.
In Twitter speak they may well be trending to be different – time and tweets will tell. Once upon a time we heard “the dogs are barking” today, it’s the customers are tweeting and reputations are on the line – just ask Kyle Sandilands.
Robert Simeon is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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Banks will have to hone their social skills in 2012

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The world has gone mad about apps – so much so in January 2011, the American Dialect Society named “app” the word of the year for 2010. The word app is a noun, short for application, which is in other words a software program. The mobile applications market is reshaping the world, which is accelerating at enormous speeds thanks to the increased availability of smartphones and much faster wireless speeds. Like it or hate it this is the future, and consumers love it.
Apple currently offers nearly 375,000 applications with more than 10 billion downloads to date that are only compatible with Android, Blackberry, Windows and Nokia devices. From news and information to books, weather, travel, health, fitness, communication and real estate, the list of apps goes on and on and on. Reviews are currently written: Top 100 apps – the definitive guide are all the go with these online downloads, where consumers constantly browse the device manufacturers via the top three: Apple’s App Store, Blackberry’s App World and Nokia’s Ovi.
The very first app store was created in 2001 although the technology was well ahead of the market. It was not until July 2008 when Apple permitted third-party developers to create apps for the iPhone that we really saw this technology take off. By 2009, combined platform revenues were $4.2 billion, and today analysts are predicting these revenues will climb to $30.5 billion by the end of 2013.
In March 2011 Apple launched its iPad 2 when it was revealed by the late Steve Jobs that Apple had sold 100 million iPhones, users had downloaded 100 million eBooks and it just surpassed $2 billion paid to app developers through its Apps Store. Jobs also announced that Apple had just passed 200 million Apple ID accounts across its three stores: iTunes, iBooks and App Store. The share of adult mobile users who have downloaded an app to their phones nearly doubled in the past two years.
A recent paper, <a href="https://apo.org.au/commentary/australian-children-online">Australian Children Online</a>, identified that Australian children between nine and 16 are frequent users (96%) and access the internet through mobile devices (60%), more so than children in most other countries. They go online almost daily (76%) both at home and school. Even more amazing is that children are not being taught about mobile devices at school, they are being self-taught.
Cyberspace is ruling the world where consumers prefer to browse through the web in the comfort of wherever they are at any given time. I have no doubt that Apple continues to lead the market (by a country mile or should that be a country stratosphere?).
Apple has now released to the world the iPod, iPad, iPhone, so get ready for the iCloud, which had 20 million users in less than a week when it was announced on October 12, 2011. The cloud-based system allows users to store music, photos, applications, documents, bookmarks, iBooks, etc. This is where it gets interesting,  given in the middle of 2012 Apple will release iTV – which has already sent television makers into a deep sweat when it was announced.
So now the Apple junkies find themselves second guessing what this release is all about and what part it will play in our day-to-day lives. Will it take off just like the iPad, iPhone and iPod? Yes it will, I believe, given businesses will have the ability (never seen before) to have their very own apps viewed by consumers within the comfort of their homes on their television.
The Apple website boasts: “Apple TV – Everything you need to be entertained.” Apple TV gives you access to everything you want to see and hear – blockbuster movies, your music and photos, even live sports – right there on your widescreen TV.
Business2 founder Peter Ricci <a target="_blank" href="https://www.business2.com.au/2011/11/apple-tv/">filed this insightful explanation</a> on what he believes iTV will deliver –it’s fascinating, scary and most importantly exciting. The reality that your business app can be viewed on a television in the lounge room is invigorating and frightening for traditional business models. Should such predictions come to fruition this clearly identifies that businesses across the planet will have to concentrate entirely on their electronic consumer platforms?
Walter Isaacson has recently released his book titled <a href="https://www.amazon.com/Steve-Jobs-Walter-Isaacson/dp/1451648537/ref=sr_1_1?ie=UTF8&amp;qid=1322172689&amp;sr=8-1">Steve Jobs</a> . ‘I’d like to create an integrated television set that is completely easy to use,” Jobs told Isaacson. “It would be seamlessly synced with all of your devices and with iCloud.” No longer would users have to fiddle with complex remotes for DVD players and cable channels. “It will have the simplest user interface you could imagine. I finally cracked it.”
Once upon a time we were told “an apple a day keeps the doctor away.” Today it’s a case of an Apple every day presents our world in a totally different way.
Robert Simeon is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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Apple's iTV will change the business model for companies

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For the last three years our property markets have been in a state of confusion. What confuses the issue further is that everyone for some strange reason wants to buy in a vendors’ market yet they don’t want to engage in a purchasers’ market. It is well documented that Australians will take a punt on two flies climbing up a wall – yet there is no interest when there is just the one. I guess the reasoning is with two flies they are guaranteed an outcome yet with the one the interest wanes.
Years ago I remember reading a quote on negotiation by Howard Baker “The most difficult thing in any negotiation, almost, is making sure that you strip it of the emotion and deal with the facts. And there was a considerable challenge to that here and understandably so.” Residential real estate is an emotional acquisition, although in difficult market conditions the emotions are removed, with the decision-making process then becoming much more commercial.
So how do you get the purchaser’s mindset from commercial back to emotional in a difficult market?
The market doesn’t determine the sale price; it only sets the parameters for the sale price. My brother developed the PEAK model, which identifies techniques for dealing with the four basic types of human behaviour.
P – Progressive
E –Endearing
A – Analytical
K – Kaotic
It is only when a real estate agent can characterise a purchaser using the PEAK model that the task of communicating with them (on their level) that you then become in a more informed position to take control of the negotiating process. Every purchaser is dominated by one of these categories, so it is important to remember that a great negotiator negotiates first with their ears and eyes – not their mouths.
A “Progressive” purchaser is a risk-taker, innovative, daring, demands efficiency, will confront, is direct and result- oriented and has a high ego. Prepare to negotiate, brevity is the key, flatter this buyer, provide more options and less opinions, close confidently.
An “Endearing” purchaser is shy, quiet patient, traditional and family-oriented. This buyer requires time to think. Agents must earn their trust. Give full explanations. Don’t denigrate the opposition. Needs lots of visits – be patient.
An “Analytical” purchaser is conservative, suspicious, non-personal and avoids risks. Do not rush this buyer, hard sell, exaggerate or threaten. Answer all questions before closing. Provide plenty of anecdotal market data and comparable sales.
A “Kaotic” purchaser is a great creative thinker, expressive, impulsive and undisciplined. Support their dreams and aspirations, allow time for socialising. Don’t lose them in facts and data. When ready, close quickly, be enthusiastic.
Of course in the majority of negotiations a purchaser can be multiple so each party must be assessed individually. Too often real estate agents focus too much on the market conditions as against the modus operandi of the purchasers.
Everybody fits into the PEAK model, and that includes vendors, too. You will also discover that you too are described in the model also.
Robert Simeon is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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Understanding prospective buyers can put the emotion back into property buying

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On March 30, 2010 Twitter introduced trending, which enables users to see why a specific topic got to be a trending topic. Wikipedia describes “a trending topic is a word, phrase or topic that is posted (tweeted) multiple times on the social networking and microblogging service Twitter. Trending topics become popular either through a concerted effort by users or because an event that propmpts people to talk about one specific topic. These topics help Twitter and their users to understand what is happening in the world”.
It did not take long for Google to jump onto this modern-day phenomenon when it launched Google trends. When our Australian parliament sits Question Time #QT is a very popular trend, where anyone wanting to make a comment about what is happening joins in the conversation. Trending is the new go-to word to best describe an event that in turn shapes our opinion(s).
Next week’s inflation numbers will determine the Reserve Bank of Australia’s next rate move – the RBA has had a difficult task in 2011 balancing the cash rate given its projections that Australia faces elevated inflation over 2011, 2012 and 2013. So a string of good data might stop RBA from cutting rates, although the RBA has concerns for our subdued housing market. So when the inflation data is released this will become a trending topic as to what can be expected when the RBA the following week meet to discuss the cash rate – which in turn will become another trending topic.
It is little wonder that our politicians have concerns about the rise and rise of social media, where more often than not the social commentators can be scathing at their actions – #stoptheboats, #apple4S, #property, #stevejobs, #realestate, #carbontax, #auspol, etc.
It is just not social networking that is shaping our opinions online shopping keeps setting new records each month and it is just not because of the strong Australian dollar. The Australian Bureau of Statistics recently revealed that the total value of goods and services sold by Australian online stores in 2009-10 was $143 billion. This figure was up 15% on the previous year, and one would expect that this would be significantly higher again once the 2010-11 figures are released.
A recent report Australia – Digital Economy – E-CommerceTrends and Statistics – revealed “While Australia has experienced rapid growth in online shopping; the lack of local big brand retailers selling online is enticing shoppers to buy from overseas competitors. Industry commentators say Australia is several years behind the US and UK, and Australian consumers are voting with their wallets when it comes to shopping online. “
“ Meanwhile in early 2011 about 25% of mobile users are shopping online with their mobile, with eBay reporting that an item is bought every 15 seconds. The online economy is booming for some online markets with revenues up 40% in 2010.”
So it appears that today our decision making process hinges significantly on what is trending. This would explain why our business confidence trending in Australia is all over the place given we are suffering from information overload.
So what are the most popular online marketing trends in 2011?
Mobile internet usage
Online video
Twitter
Businesses actively pursuing facebook
Blogging
It is the mobile phone network that is the most completive, and BlackBerry’s outlook in Australia is looking not so bright (who would have thought?). The corporate market in Australia is pure gold, and the latest release by Apple with its iPhone 4S looks set to set new phone records. Last week BlackBerry customers in Europe, the Middle East, Africa, Latin America, Canada and the US lost emails and messaging for almost four days. Historically the BlackBerry has dominated the Australian smartphone market – although with the 4S release this should become the Australian market leader.  Telstra’s new 4G network is boasting internet speeds 25x faster than the previous 3G so the phones with the most apps – another trending example.
The online technology market in Australia today resembles a debate much like that of Holden versus Ford (which both now offer the latest technologies in their vehicles).
Today there is anecdotal evidence that some brands are being disconnected by consumers, so keep watching the trending – it’s fascinating unless you’ve been disconnected. I’m not surprised as many have been saying this would happen for years, whenI remember a quote back in 2000 – “Get e-based of get e-rased.”
Many Australian businesses are guilty of “I hear what you’re saying, but I’m not listening”.
Robert Simeon is a director of <a title="RWM" target="_blank" href="https://www.rwm.com.au/">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a title="Virtual Realty News" target="_blank" href="https://www.rwm.com.au/news/">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
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Real estate businesses must make the most of the web or be left behind

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Whenever I have watched reality shows what resonates most with me is an obvious lack of due diligence. How can you have an advertising campaign that any other vendor in Australia would dream of only to see failure and disappointment on auction day?
The other problem is that in the vast majority of cases that I’ve seen the contestants have little to no experience with renovation yet by the end of the series they give the impression that they are master builders.
On top of that the general public gets the impression that they have cut corners given the shows focus on a tight renovation budget. This creates a no-win situation, which has been reflected in the sales evidence.
The contestants keep running down to the local hardware store (which is usually a sponsor) to buy appliances, where they would be paying full retail as against sourcing the products far more cheaply over the internet. With better planning in advance these appliances could be purchased much cheaper – although that does not fit in with the strict timing schedules of the shows.
The problems facing these shows are sourcing the right properties in the right locations. This is nearly impossible, especially given that they have to find multiple properties the fit the criteria. When they find a compromise more often than not they have paid too much acquiring the properties and the cost of renovations combine to deliver over-capitalised properties. It is then very difficult to make the money back at auction.
I don’t see a great future with these reality realty shows given they are not financially viable. It’s an expensive gamble if you are not an owner-builder who is developing the property to live in.
It is well-documented around the country that punting on real estate using that formula is a recipe for disaster – and they keep delivering this conclusive evidence, don’t they?
Robert Simeon is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real-estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
For expert commentary and analysis on lessons to be learnt from property reality TV, <a target="_blank" href="https://register.propertyobserver.com.au/lights-camera-auction/">download our e-book Lights, Camera, Auction!</a> 
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Lack of experience, research and planning a problem with reno TV

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]

Robert Simeon

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