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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

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Robert Simeon

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