<html><body>
A Devon Meadows, Victoria acreage home has been sold for $781,000.
The home spent over 5 years on market seeking $950,000 before being taken off market and relisted as a mortgagee.
It then sold at auction after a one month marketing campagn.
Matt Dewan and Brent Day of Obrien Real estate marketed the property.
Situated at <a href="https://www.realestate.com.au/sold/property-acreage+semi-rural-vic-devon+meadows-132309170" target="_blank">144-146 Craig Road</a>, the home sits on 2.1 acres (8,247 sqm).
A three bedroom, one bathroom abode is positioned on the holding.
The property last traded for $410,500 in 2008.
It is located a short drive to Cranbourne and according to the listing, "it is an opportunity with options to renovate the existing home or start fresh &amp; build your dream home on this beautiful piece of land (subject to council approval)."
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median sale price for a home in <a href="/developments/devon-meadows-vic-3977">Devon Meadows</a> is $644,000 according to the latest CoreLogic data.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Devon Meadows, Victoria mortgagee acreage sold for $180,000 below asking price

<html><body>
Australian Finance Group Ltd (AFG) has unveiled a new standard that summarises crucial mortgage information in a consumer-friendly format for home loan customers.
Home loans within the AFG network now require both the customer and the mortgage broker to approve a one-page summary that clearly explains why the home loan product is appropriate for the customer.
The concise one-page document spells out to the customer their requirements and objectives, the recommended product, the reasons why the product was selected and any remuneration to be paid by the lender. The document also provides similar material about other products considered before settling on the final product selection.
A new one-page disclosure will be included at the top of the existing AFG National Consumer Credit Protection documents.
The move comes ahead of the Federal Government’s best interests duty laws currently in the parliament.
AFG Chief Executive Officer David Bailey said ASIC challenged the mortgage broking sector to source the information and present it objectively and transparently so that customers clearly understand their options.
He said, “AFG is not waiting for others to set our agenda. The reality is the new obligations under the proposed best interests duty don’t come as a surprise to most mortgage brokers."
One in every 11 home loans in Australia last year was arranged through AFG’s 3000-strong national network of brokers, with settlements of more than $31 billion in the 2018-19 financial year.
“Now that AFG has lifted the bar to further demonstrate our customers are first and foremost, we are looking forward to working with ASIC and the rest of the industry on a regulatory guide to formalise the framework for the best interests duty,”
</body></html>

AFG make pre-emptive move on home loan transparency

<html><body>
GUEST OBSERVATION
The level of water stored by Australia’s capital cities has steadily fallen over the last six years. They are now collectively at 54.6% of capacity – a decline of 30% from 2013.
We’re going into a hot summer and Sydney has just announced <a href="https://www.nsw.gov.au/news-and-events/news/level-2-water-restrictions-to-start-across-sydney/" target="_blank">level two restrictions</a>, the toughest for any capital. Data from the <a href="http://www.bom.gov.au/water/dashboards/#/water-storages/summary/urban?location=Canberra" target="_blank">Bureau of Meteorology</a> shows other capital cities facing mixed results.
The results show that Darwin’s water supply has lost about 25% over the last year. On the plus side, Melbourne’s supply actually increased over 2019, having fallen below 50% earlier this year, and now sits on 63.9%.
While the national average is trending downwards, the patterns for each city are very different. Sydney and Perth water supplies have had contrasting journeys over the last six years. In October 2013 Perth’s supply was a very low 33.8% and Sydney was a comfortable 91%.
Now, for the first time in many years Perth does not have Australia’s lowest level of all capital city water storages. As of last week, Sydney has taken this unwanted distinction from Perth.
For Perth residents, the news is good as their surface water storages are at a six-year high of 46.4%. In Sydney they are worried, as they have a six-year low of 46.2%.
Sydney has experienced a steep decline over the last 30 months, from nearly full storages (96%) in April 2017. The speed and severity of the Sydney drought is starting to resemble previous dry spells. One was in the 1940s and the other was the Millennium drought.
Perth has lived with the most water stress of any capital city. They have had to contend with a steady 45-year decline in rain. The inflow of water into Perth’s dams has also <a href="https://www.watercorporation.com.au/water-supply/our-water-sources/securing-perth-supply" target="_blank">fallen dramatically</a>.
Perth has adapted to its drying climate by sourcing water from <a href="https://theconversation.com/is-perth-really-running-out-of-water-well-yes-and-no-90857" target="_blank">many different supplies</a>. It now uses its surface water storages for about 10% of its water supply. Much larger proportions of Perth’s supply comes from its two desalination plants, which unlike the other capitals are constantly in operation. It makes greater use of groundwater and highly treated recycled water. Perth also has permanent water restrictions.
Sydney’s desalination plant, after hibernating for seven years, is now supplying water. It was switched on in late January 2019 when Sydney supply hit 60%, and can supply 15% of water demand. Unusually perhaps, the desalinated water does not reach all parts of Sydney.
Sydney Water has announced plans to <a href="https://www.theguardian.com/environment/2019/sep/26/sydney-desalination-plant-to-double-in-size-as-dams-approach-critical-level" target="_blank">double the capacity</a> of the desalination plant. Construction is expected to <a href="https://www.planning.nsw.gov.au/-/media/Files/DPE/Other/About-us/Metropolitan-Water/2017-Metropolitan-Water-Plan.pdf" target="_blank">begin soon</a>.
Melbourne and Brisbane water supplies are currently at similar levels. However, since 2013 Melbourne’s storages have generally been lower than Brisbane’s. Melbourne’s supply has risen in 2019 after good winter rainfall in its catchments. The storages have increased from under 50% (49.6%) in late May 2019. Today, Brisbane storage levels are now at 59.2%.
Melbourne residents use <a href="https://theconversation.com/why-sydney-residents-use-30-more-water-per-day-than-melburnians-117656" target="_blank">less water</a> than the other capital cities. In 2018 the average Melbourne resident used 161 litres per day, approximately 30% less than Sydney residents.
Melbourne’s supplies have also been supplemented with the reactivation of its Wonthaggi desalination plant in 2019. It is Australia’s largest desalination plant, capable of producing <a href="https://www.water.vic.gov.au/media-releases/2019/desalinated-water-begins-flowing-to-secure-supplies" target="_blank">410 million litres a day</a>.
Brisbane also built a desalination plant after the Millennium Drought. In addition, they also made very large investments in Australia’s largest waste water recycling scheme. The <a href="https://www.seqwater.com.au/seq-water-grid" target="_blank">Western Corridor recycled water scheme</a> opened in 2008, cost $2.5 billion and features three advanced waste water treatment plants, with more than 200 km of pipelines and three advanced waste water treatment plants.
Hobart, Darwin and Canberra are the three Australian capital cities without desalination plants. Canberra has had a steady decline in its supply over three years. It was full in October 2016, gradually dropping to 51.6% in November 2019. Hobart’s storages were above 80% for most of the last six years. They were just above 90% 12 months ago and have since fallen to their current level of 72%.
Darwin’s water supply was full as recently as April 2018. Now, 18 months later, it is just touching 54%. This is its lowest level in six years. Darwin, our tropical capital, has the most seasonal rainfall of Australia’s capitals. Typically, they have almost no rain June to September during their dry season, and a wet season of <a href="https://theconversation.com/explainer-what-is-the-australian-monsoon-69411" target="_blank">heavy rains from October to April</a>. However, the last wet season was one of the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-03-14/revisiting-the-1952-northern-territory-missing-wet-season/10883534" target="_blank">driest on record</a>.
Adelaide’s water storage has fluctuated over the last six years. Adelaide gets more rain in winter and has dry summers, an opposite pattern to that of Darwin. Over the last three years the level has dropped from over 97% in October 2017 to just below 58%.
The desalination plant in Adelaide can supply up to 50% of its water supply. It has been operating in 2019, although not in the wetter months of July and August. The Murray also continues to supply a <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-12-14/adelaide-desal-plant-revival-plan-to-ease-use-of-murray-water/10619960" target="_blank">large proportion</a> of Adelaide’s water supply. The Commonwealth has agreed to use drought funding for the Adelaide desalination plant, so more river water can be used by farmers upstream to <a href="https://watersource.awa.asn.au/business/assets-and-operations/sa-desal-plant-to-increase-production-as-part-of-drought-deal/" target="_blank">grow fodder for livestock</a>.
Australia is set for a <a href="http://www.bom.gov.au/climate/outlooks/#/overview/summary" target="_blank">dryer and hotter summer than average</a>, particularly in the east. Coupled with continued high levels of household demand, we can expect further declines in water storage levels through the first half of 2020.<img src="https://counter.theconversation.com/content/127909/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Ian Wright, Senior Lecturer in Environmental Science, Western Sydney University.
Jason Reynolds, Research Lecturer in Geochemistry, Western Sydney University.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-drought-is-affecting-water-supply-in-australias-capital-cities-127909" target="_blank">original article</a>.
</body></html>

How drought is affecting water supply in Australia’s capital cities

<html><body>
A riverfront acreage property in West Brisbane has hit the market for the first time in 60 years.  
It is currently under contract. 
Situated on a 2.8 acres of riverfront land, the architecturally designed home at <a href="https://www.realestate.com.au/property-acreage+semi-rural-qld-moggill-132127898" target="_blank"></a><a href="https://www.realestate.com.au/property-acreage+semi-rural-qld-moggill-132127898" target="_blank">128 Weekes Road, Moggill</a> sits in a flood free position on an elevated ridgetop.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/9/moggill%202.jpg" alt="">
With views of the Brisbane River, the home constructed with suspended slab requires either renovation or complete demolish.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/10/9/moggill%203.jpg" alt="">
Brian Webster of Brisbane Real Estate Indooroopilly has the listing. 
</body></html>

Moggill, Queensland riverfront acreage property under contract 

<html><body>
Hobart has jumped further ahead of Sydney as the least affordable city to rent in Australia, the latest release of the Rental Affordability Index (RAI) has found.
Even households on average incomes in Hobart are now at risk of rental stress. 
“Tasmania’s capital city is in a housing gridlock,” Ellen Witte, Partner at SGS Economics and Planning said.
“Rental affordability in Hobart dived even lower during winter. Working families are now facing rental stress with the average income household now paying 30% of income on rent. This means these households are unable to save sufficiently for a deposit on a mortgage.”
<a href="https://www.propertyobserver.com.au/images/2018/11/29/hobart%201.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/29/hobart%201.jpg" alt=""> 
Rental affordability in some other Australian cities, including Sydney, has improved marginally. In many cases, however, the gains have not flowed through to low-income households for whom affordability remains severe. 
Andrew Cairns, Chief Executive Officer at Community Sector Banking, said: “Looking beneath the headline figures, rental stress is affecting the majority of very low-income households in Australia. Pensioners and single parents are hit particularly hard.”
The RAI is an indicator of the price of rents relative to household incomes based on new rental agreements. It is released biannually by National Shelter, Community Sector Banking, SGS Economics &amp; Planning and the Brotherhood of St Laurence.
A RAI of 100 and below shows that households would be required to spend at least 30% of their income on rent. A RAI of 100-120 indicates households are facing moderately unaffordable rents. 
<a href="https://www.propertyobserver.com.au/images/2018/11/29/hobart%202.jpg" target="_blank">Click here</a> to enlarge:
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/29/hobart%202.jpg" alt="">
Greater Hobart reached a RAI of 101 in June 2018, meaning median rents in metropolitan Hobart are now unaffordable, even to median income rental households. Greater Sydney has a RAI of 113, which is also considered moderately unaffordable.  
The least affordable suburbs in Sydney include Milsons Point, Kirribilli, St Ives Chase, St Ives, Pyrmont, Point Piper, Edgecliff, Darling Point and Rozelle.
In Melbourne, suburbs further from the centre that previously had acceptable rents have become unaffordable in the past 12 months, including Keilor in the north-west, Gisborne in the Macedon Ranges and Diamond Creek and Warrandyte in the north-east.
The least affordable suburbs in Melbourne include Brighton East, Albert Park, Middle Park, Port Melbourne, Beaumaris and Cromer where an average income household would expect to pay 30-38% of their income on rent. 
Adrian Pisarski, Executive Officer, National Shelter, said: “The situation facing the nation’s renters remains poor with little or no improvement for low and moderate income renters in our capitals and poor affordability in our regions.”
“It is clear to National Shelter we need a National Housing Strategy to help improve the dire situation far too many renters across Australia experience,” Pisarski said. 
“Compared to improvement in purchase affordability, renters are doing it tough. While we have many housing markets in Australia, none of them are positive for renters. We need a multi-party commitment to improve rental affordability over the long term.” 
Conny Lenneberg, Executive Director of the Brotherhood of St Laurence, said: “There is a housing crisis in Australia and this report starkly shows those who can least afford to pay are paying the highest price. 
“High rents are pushing unemployed people on very low Newstart payments into deeper poverty. Jobseekers are forced out to the urban fringes of our cities to find suitable accommodation but that places them far from jobs and public transport connections. Housing cost pressures mean some renters on Centrelink are being pushed into homelessness. We need to raise Newstart and its very modest rental supplement as a priority.” 
Lenneberg said there was also an urgent need to increase subsidised social housing. “The cost of renting in the private market puts many low-income single parents, usually women, under extreme pressure. Many parents forgo basics such as food and paying household bills to keep a roof over their family.”
Pensioners struggling
Rental affordability for single pensioners is alarmingly poor across the nation. Single pensioners are facing severely unaffordable and extremely unaffordable rents in all Australian capitals and almost every regional area. Single pensioners would have to move to regional South Australia to find accommodation that would not force them into rental stress.
Pensioner couples would also struggle to make ends meet in all Australia capitals, and every regional area except NSW, Victoria, SA, and Tasmania. 
No relief for low-income households 
Rental stress has become so entrenched and severe for low income households that the recent improved affordability in some cities has not brought relief. 
More than a million households need some form of housing assistance, while 45% of low-income households experience rental stress. 
“We are particularly worried about single parents with children,” Witte said.
“There are 110,000 single-parent, low-income households out there living in rental stress and 82% of those households are single mothers. The majority earn $41,600 per annum or less. In Sydney they would be paying about 70% of income on rent, which is clearly unsustainable.
“There are about 244,000 low income, single-person households experiencing rental stress in Australia. The majority – 57% – are single men. More than half of single males renting earn less than $36,400 a year. They would be paying 68% of their income on rent if they wanted to live in Greater Sydney.
“No matter how efficient a housing market operates, there is always a need for social and affordable housing, like there is a need for investment in roads, public transport, education and health. Over the last few decades we have seen a consistently deteriorating level of government investment in social and affordable housing. While new national policy has a focus on providing affordable finance there remains a gap between the cost of providing housing and the returns of social rents. 
“The Government needs to bridge the financial gap and grow social housing supply. Inclusionary zoning is particularly well suited to grow the social and affordable housing stock close to jobs and opportunities.” 
Witte called for a a tax regime that treats housing as place of residence first and as investment objective second. 
“The current tax system does the opposite, driving people out of home ownership,” she said. “While more households than ever rent, the rental market still relies on the inefficient and ineffective delivery of rental housing through mum and dad investors. We need large-scale institutional investment in the rental sector providing secure and quality housing for the long term.” 
Sydney still unaffordable to many
Rents continue to be unaffordable even for working, median income households in Sydney and low-income households continue to be the worst off in Sydney.
“Greater Sydney is growing fast – especially in the Western Sydney City Deal area – and so is its need for social and affordable housing,” said Witte.
Growing income inequality is driving demand for social and affordable housing. Western Sydney councils face a shortfall of more than 35,000 social and affordable dwellings. This will increase to 64,000 dwellings by 2036. 
A vision needed for Hobart 
Even households on moderate incomes households would now be paying 30% of their income to access a rental in Hobart. 
Rental stress is the everyday reality for the majority of single parents and single person households on low incomes. A single part-time working mother would have to pay 42% of her income on rent. On top of that come costs for child care and education.
“While the government has implemented some initiatives, no comprehensive vision or structural change has been announced,” Witte said.
“The city needs a comprehensive housing strategy with commitment and initiatives from both state and local government to address the issue.
“These initiatives should include the release of more Government-owned land for housing, substantial inclusion of affordable housing in new development, the trial of new planning measures to boost affordable housing and capacity building in the construction industry.
“Short-term rental accommodation needs to be curbed until the rental affordability situation improves.”
</body></html>

Singles, pensioners and families on low incomes are struggling with affordability: RAI

<html><body>
Realestateview.com.au is now offering a new tool to home owners and seekers that can, they claim, provide an accurate dollar value on their home 
By partnering with CoreLogic, Australia’s leading property data provider, <a href="https://realestateview.com.au/" target="_blank">realestateview.com.au</a> has further developed its first-to-market 'Price Estimator' which provides property owners and property seekers with instant price value ranges.
Every address searched has a range of property data and demographic information relevant to the suburb where that property is located. G
“Over 40 percent of people visiting our site every month engage with a Price Estimator page. It’s extremely popular, and now with the experience being powered by CoreLogic, there’s even more reasons for consumers to rely on our site for address-level property insights and data,” said Toby Balazs, realestateview.com.au CEO.
“Being the number three property portal in Australia, realestateview.com.au is focused on delivering new and value adding experiences to keep our property-obsessed audience engaged with the site."
“The great thing about CoreLogic is that people know and trust the data, it’s referenced everywhere and in our industry, it has a reputation for quality and accuracy,” he went on to say.
</body></html>

RealEstateView partners with CoreLogic to release new property price estimator

<html><body>
GUEST OBSERVATION
Governor Phillip Lowe has laid out in very clear terms the circumstances in which the bank would resort to quantitative easing and the way in which it would implement it.
Quantitative easing is simply a change in the way it eases monetary policy when the official interest rate approaches zero.
Usually it does it by cutting the so-called <a href="https://www.rba.gov.au/education/resources/explainers/how-rba-implements-monetary-policy" target="_blank">cash rate</a>, which is the rate banks pay each other for money deposited overnight.
Eight years ago the cash rate was 4.5%. Three years ago it was 1.5%. After the most recent three cuts in June, July and October, it is just 0.75%
<hr>
<a href="https://images.theconversation.com/files/303837/original/file-20191126-112484-iegrak.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/303837/original/file-20191126-112484-iegrak.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://www.rba.gov.au/statistics/cash-rate/" target="_blank">Source: RBA</a>
Last night, Governor Lowe said the <a href="https://www.rba.gov.au/speeches/2019/sp-gov-2019-11-26" target="_blank">effective lower bound was 0.25%</a>. Rather than let the cash rate get any lower or negative (an option he explicitly ruled out), the bank will push down other longer-term rates by buying government bonds.
It’s the “quantitative easing” approach adopted by the US Federal Reserve between 2009 and 2014.
Government bonds are sold by governments in return for money, a means of borrowing. The buyer gets guaranteed interest payments and a guarantee that their money will be returned in full after three, five, 10 or even 20 years depending on the length of the bond.
Once issued, bonds can be traded on a market, and the price at which they change hands can be expressed as an implied interest rate, which becomes the risk-free rate against which all other interest rates are benchmarked.
How quantitative easing would work
Buying bonds from investors would push down that risk-free rate, pushing down the entire structure of long-term interest rates.
All other things being equal, this should also push down the exchange rate by reducing the return on Australian dollar denominated financial investments.
Governor Lowe indicated he might buy state government bonds as well as Commonwealth bonds.
Importantly, he argued that although the bank would be mindful of the need to ensure private banks had enough access to the bonds they needed to hold for regulatory purposes, those holdings would not be an impediment to quantitative easing.
He ruled out buying residential mortgage-backed securities and other private assets given that those markets are currently functioning well and Reserve Bank purchases could distort them.
The approach borrows heavily from the US Fed.
As in the US, Lowe says quantitative easing would be complemented by “forward guidance”, where the Reserve Bank would signal early how long-term interest rates would be kept low and the circumstances in which it expected to raise them again.
The guidance is designed to influence market expectations for future interest rates, enhancing the effectiveness of cuts in long term interest rates.
When it would happen
In addition to “how”, Governor Lowe spelled out “when” – the economic circumstances in which the bank would resort to quantitative easing.
It would do it when the cash rate was at 0.25% and inflation and unemployment were moving away from its objectives.
The bank targets 2-3% inflation on average over time and has recently identified 4.5% as the “full employment” unemployment rate.
Importantly, Lowe emphasised that the Australian economy has not yet reached the point where a cash rate as low as 0.25% would be needed and argued quantitative easing was unlikely to be needed in future.
The cash rate is at present 0.75%. Setting 0.25% as the effective lower bound gives the Governor 0.5 percentage points left to cut before implementing quantitative easing.
Implicitly, Governor Lowe is saying that those cuts of 0.5 percentage points will be enough to stabilise the economy.
A pause for a breath at 0.25%
Lowe also indicated the bank would not seamlessly transition to quantitative easing.
He implied there was an additional hurdle or threshold that would need to be crossed, suggesting he would be reluctant to make the transition.
His big problem is that neither inflation nor the unemployment rate are moving in the right direction.
The bank has undershot its inflation target since the end of 2014, giving the economy a weak starting point going into an emerging global downturn.
My <a href="https://www.ussc.edu.au/analysis/lessons-from-quantitative-easing-in-the-united-states-a-guide-for-australian-policymakers" target="_blank">research</a> on the US experience for the United States Studies Centre shows that the main problem with is quantitative easing was that it was not done soon enough or aggressively enough.
It might be better to be bold
While quantitative easing was effective, it could have been made more so had what was going to happen been made clearer.
The Fed went out of its way to limit the transmission of quantitative easing to the rest of the economy, fearful it would be too potent and lead to excessive inflation.
Those concerns proved misplaced. By pulling its punches, the Fed ended up being less effective and having to pursue quantitative easing for longer than if it had used it more aggressively.
Governor Lowe’s very obvious reluctance to go down the quantitative easing route suggests the Reserve Bank is in danger of making the same mistake, but it is not too late to learn from what happened in the US.<img src="https://counter.theconversation.com/content/127697/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Stephen Kirchner, Program Director, Trade and Investment, United States Studies Centre, University of Sydney.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/now-we-know-the-reserve-bank-has-spelled-out-what-it-will-do-when-rates-approach-zero-127697" target="_blank">original article</a>.
</body></html>

The Reserve Bank has spelled out what it will do when rates approach zero: Stephen Kirchner

<html><body>
First home buyers in Sydney can look to ‘rent-vest’ as a way to enter the market, while buying conditions are better than ever, says Colliers International. 
‘Rent-vesting’ refers to the concept of buying a property as an investment in an area which is affordable and experiencing significant boom conditions, while choosing to rent in a preferred, more expensive area. 
According to Colliers International, while many Sydney first home buyers choose to buy in expensive, popular areas such as the Eastern suburbs and Lower North Shore, inner west areas such as St George, Canterbury, Bankstown and Gladesville, have seen a significant price drop and are experiencing booming conditions. 
“The St George Canterbury and Bankstown areas currently offer some of the highest rental returns in Sydney and at the moment there is a lot of choice in these areas,” said Peter Kerras, Director, Residential at Colliers International.  
“First home buyers seeking capital growth should be looking in these areas to bag a bargain not compete with other buyers to pay a premium with the prospect of modest growth.
“With rent returns now higher than interest rates in some areas, it has never been a better time to buy an investment property and the strategy of ‘rent-vesting’ – buying in a more affordable area with great returns and stay renting where you know - can be a great way for young people to enter the market.”
Currently, the price difference between a new property and an older property has never been less.
“Traditionally you would be paying 20% more for a new property as opposed to second hand property, however the unsure lending environment has brought down the price of new property in certain areas, which is great news for investors,” Kerras said.
“There is a lot of misconception and fear around buying off the plan; however, many of these are unfounded. New properties have much better noise insulation, sound proofing, fire safety, plumbing and wiring and the latest modcons.”
</body></html>

Rent-vesting could be key to the market for first home buyers: Colliers International 

<html><body>
GUEST OBSERVATION 
Despite 28 years of uninterrupted economic growth, future generations of Australians face being worse off due to increasing household debt, cost-of-living pressures, rising wealth inequality, climate change impacts and environmental degradation.
But our <a href="https://www.nature.com/articles/s41893-019-0409-9" target="_blank">new research</a> finds a fairer, greener and more prosperous Australia is possible – so long as political leaders don’t focus just on economic growth.
Evaluating Australia’s progress by 2030
We modelled four development scenarios for Australia through to 2030:
<ul>
<li>“Growth at all Costs”, emphasising economic growth</li>
<li>“Green Economy”, emphasising environmental outcomes</li>
<li>“Inclusive Growth”, emphasising social equality</li>
<li>“Sustainability Transition”, balancing economic, social and environmental outcomes.</li>
</ul>
Each scenario involved different policy and investment settings, particularly around tax and subsidies, government expenditure and private investment.
We then evaluated each scenario against the <a href="https://www.un.org/sustainabledevelopment/sustainable-development-goals/" target="_blank">Sustainable Development Goals</a>, an internationally recognised set of targets and indicators that measure national progress in 17 major areas. These include economic growth, poverty, inequality, education, health, clean water and clean energy.
<img src="https://images.theconversation.com/files/302095/original/file-20191118-66971-1ur4w7y.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
<a class="license" href="http://creativecommons.org/licenses/by-nc-sa/4.0/" target="_blank">CC BY-NC-SA</a>
Goals, targets and indicators
Each goal involves multiple targets and indicators. Goal 8, for example, is “Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all”. This involves 10 targets including per capita economic growth, decoupling economic growth from environmental degradation, and protecting labour rights. Each target comes with at least one indicator (for example, the growth rate of real GDP per capita, material consumption per GDP, and the rate of occupational injuries).
In all, the 17 goals cover 169 targets. Because Australia has not adopted SDG targets, we chose 52 of those (with about 100 indicators) then modelled Australia’s progress in 2030 using our four scenarios.
The graph below shows each scenario’s score (with 0% meaning no progress, 100% target achieved) on each of the 17 goals. We also calculated an average score for each scenario across all goals to aid comparison.
Growth alone is not the answer
Our model projects a business-as-usual approach will achieve progress of about 40% across all goals and targets. The “Growth at all Costs’ scenario scored only slightly better: 42%.
Economic growth – defined as an increase in a nation’s production of goods and services – is generally measured by the annual change in real gross domestic product (GDP).
Our "Growth at all Costs” scenario involves accelerating economic growth through higher population growth and lower taxes. Net migration is modelled as being 350,000 a year by 2030, with the population reaching just over 30 million. The government’s tax revenue as a proportion of GDP is 10% less than now as a result of lower tax rates.
Government spending is about 15% less (as a percentage of GDP), with cuts particularly to health, education and social security, but more spending on transport infrastructure. There are no new measures to tackle greenhouse gas emissions, land degradation or other environmental concerns.
In our modelling this scenario increases GDP growth to about 2.6% a year, with low unemployment and declining government debt. But it comes at the expense of income inequality and the environment.
Even on the one goal it might be expected to do relatively well – Goal 8 – this scenario performs quite poorly. That’s because the goal measures per capita GDP growth, not just the total GDP growth most politicians talk about, along with a range of social and environmental indicators.
The following graphs show how the four scenarios compare on real GDP (i.e. adjusted for inflation), per capita GDP, income inequality and greenhouse gas emissions.
Sustainability transition
With an overall score of 70%, the “Sustainability Transition” scenario is the clear winner.
This scenario modelled slower population growth and higher taxes on consumption, income and profits and trade. With net migration of 100,000 a year by 2030, the population reaches about 28 million. Tax revenue as a percentage of GDP is about 8.5% higher than now. This funds more spending on health, education and social security, as well as the equivalent to 1% of GDP on the sustainability of transport, water, energy, agriculture and energy systems.
The overall result is economic growth of about 2.1% a year, with government debt 10% higher than our business-as-usual projection.
But per capita GDP is higher. Unemployment and income inequality are lower. Fewer people live in relative poverty, and life expectancy is higher. Energy, water and resource consumption is down. So are greenhouse gas emissions. There is more forested land. This delivers a more prosperous, fairer and greener nation in 2030.
Possible futures
These results run contrary to the “growth and jobs” narrative that <a href="https://www.businessinsider.com.au/heres-how-many-times-scott-morrisons-budget-speech-used-the-catchphrase-jobs-and-growth-2016-5" target="_blank">dominates political debate in Australia</a>. Both sides of politics emphasise economic growth as the key to prosperity. But this narrative is clearly flawed when we look at a broader set of issues.
The Sustainable Development Goals seek to capture all of these issues in a coherent way. Our study explores four plausible futures, and there are many other possible combinations that could be explored with worse or better results.
What is clear is that business as usual certainly won’t ensure Australia has a more prosperous, fairer and environmentally sustainable society.<img src="https://counter.theconversation.com/content/126823/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Cameron Allen, Researcher, UNSW.
Graciela Metternicht, Professor of Environmental Geography, School of Biological Earth and Environmental Sciences, UNSW.
Thomas Wiedmann, Associate Professor, UNSW.
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/we-modelled-4-scenarios-for-australias-future-economic-growth-alone-cant-deliver-the-goods-126823" target="_blank">original article</a>.
</body></html>

We modelled four scenarios for Australia’s future. Economic growth alone can’t deliver the goods

<html><body>
Stuart and Susan Crumpler, founders of the bag brand Crumpler, are selling their Buninyong home, in central Victoria.
Set on 10 acres, the architect-designed five-bedroom home at <a href="https://www.realestate.com.au/property-house-vic-buninyong-132531706" target="_blank" rel="noopener noreferrer">86 Hastie Street, Buninyong</a> has hit the market with hopes of $1.95 million to $2.1 million.
The family sized home comprises five bedrooms, two bathrooms, four indoor living spaces and modern inspired kitchen.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/4/buninyong%202.jpg" alt="">
The main master bedroom comes with its own bathroom, and living and office space with garden views. 
Outdoor features central courtyard, vine, decks, in-ground swimming pool and low maintenance gardens. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/4/buninyong%203.jpg" alt="">
Other highlight include open fireplace, high ceilings, polished timber floors and uninterrupted westerly vistas. 
Jellis Craig Ballarat agent Phil Hayward has the listing. 
The property was built about 11 years ago, a couple of years after the Crumplers bought the block when it was “just an empty paddock”.
They’re now downsizing to do-up a weatherboard in Ballarat.
</body></html>

Crumpler founders lists Buninyong home 

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <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>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News