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A donation of $400,000 to the National Centre for Asbestos Related Diseases will help fund genomic research into the fatal disease mesothelioma.
The money was provided by the HIA Charitable Foundation with a ceremony at the HIA office in Perth, recognising its significance.
“Asbestos related disease has already taken a significant toll on members of the building industry and the wider community,’’ said HIA spokesman Greg Weller. ‘’With the latent nature of mesothelioma it can be expected that the problem will be with us into the future.’’
The funds will support a research project to identify genetic changes that occur in a sequence of DNA where the cancer is present. Identifying changes in specific genes is the first step towards developing treatments for patients.
This cutting edge work will be undertaken jointly by NCARD and the Queensland Centre for Medical Genomics.
The donation comprises $375,000 sourced by the Foundation and includes generous contributions from West Australian philanthropists Dale and Jan Alcock, and building group Alcock Brown Neaves, of which Dale is managing director. A further $25,000 was donated by WA Charity Direct.
“Funding research into the disease has been one of the highest priorities for the HIA Charitable Foundation since its formation,’’ said Weller. ‘’It is also recognised that because genomic research is very expensive, private sector donations such as this are essential.’’
HIA staff and the association’s members held fundraising activities and events throughout the year to raise money for the cause, Weller said. “Today’s presentation shows the way for all in the building industry to generously support the HIA Charitable Foundation and its endeavours.”
To find out more about the HIA Charitable Foundation or to contribute visit  www.hia.com.au/foundation or call 07 3021 8813.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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staylor-63KgDrKwoY

Housing Industry Supports Cutting Edge Research 

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Homeless people will benefit from a partnership between the Real Estate Institute of Western Australia and The Salvation Army.
It is part of REIWA’s Community REInvest program to help agents and property managers provide money and support to worthy causes throughout WA.
And, to kick-start the partnership, REIWA is sponsoring The Beacon, a 102 bed, multi-storey homeless men’s shelter in East Perth to open in February 2014.
Chief executive Neville Pozzi said members wanted a role in helping community causes and were keen to contribute. “Most real estate agencies already have strong charity connections in their local communities, whether for medical research, volunteer bushfire brigades, local community groups or animal rescue centres,’’ he said.
“However, REIWA itself did not have a philanthropic cause on which to focus. It makes sense that agents working in the housing sector and dealing with people and accommodation issues every day would be keen to get involved with helping those less fortunate and for whom home ownership, or a secure rental, is out of reach.”
The Salvation Army has assured sponsors that all funds will go to support deserving clients around the state.
Pozzi said that REIWA members in Community REInvest would make a monthly contribution to the cause. “I am confident that REIWA agents will contribute at least $250,000 in the first year of this program and that it will grow each year after that,’’ he said.
“Our members are really looking forward to Community REInvest being able to give something back to the community, either financially or through volunteering.”
The Salvation Army’s Warren Palmer said the initiative would help provide much needed accommodation to vulnerable people in the community. “Despite WA being a very prosperous state, some people fall through the cracks and need our help. The assistance that REIWA agents can give us is greatly appreciated and the money will be spent in practical ways where it is most needed.
"The Salvation Army is proud to partner with REIWA and the real estate sector. We recognise that the home remains the centrepiece of human need and family structure in our community and we’re excited to have REIWA as our foundation partner of The Beacon.’’
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Christmas charity considerations: REIWA helps homeless

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All the clichés in the world can’t sum up the importance of a ‘home’ at Christmas.  
Those who have a nice, comfortable home, and loving family to share it with, might find it easy to underestimate what life would be like without one.  
Sure, we see beggars on city streets, some with their hands out for small change and others sleeping rough under railway bridges and in parks. Tough life for some ...  
But they’re not people we have to worry about, are they? Doesn’t someone else look after them?  
Luckily for ‘them’, that ‘someone’ is an ever-reliable presence in times of need: The Salvation Army.  
And yet, in these times of national prosperity, when most of us seem to have too much, The Salvos have released a first of its kind national snapshot of the homelessness services they provide and an insight into the people they assist on a daily basis.  
As the largest provider of homelessness services in Australia, the report reveals the Salvos helped 22,594 people in the six months to December 31 last year.  
This important report identifies that large numbers of the disadvantaged attribute their desperate homeless situations to family and domestic violence, a lack of affordable housing, and poverty. Fifty-three per cent of women, for example, accessed Salvation Army women’s homelessness services to escape family and domestic violence situations.  
“This report shows for the first time the extent of The Salvation Army’s work with homeless people across Australia. It emphasises our strong commitment to working with people with complex needs, often with no one else to turn to,” The Salvation Army’s Dr Bruce Redman said.  
“Our 155 homelessness services tell us that these clients struggle to find somewhere to live. The report confirms this, with 44% of people turning to the Salvos because of issues associated with housing affordability and housing crisis.  This is still a major national social problem that needs resolving.”  
Dr Redman said the Christmas period was the most difficult time of year for families and individuals in need.  
‘’We urge Australians to remember the women, men and children who will not share in the joy and hope of Christmas time, who don’t have family to turn to, and who don’t have a roof over their heads.  
‘’All of us can make a huge difference to those experiencing hardship by making a donation to The Salvation Army’s Christmas Appeal this year.”  
In December, The Salvation Army assists three times more people than any other month. And over the Christmas period they will provide care on more than 300,000 occasions.  
On Christmas Day more than 8,000 people - who do not have somewhere to celebrate - will share in a Christmas meal at a Salvation Army centre.  
The Salvation Army Homelessness Report shows:
<ul>
<li>
155 Salvation Army homelessness services operate across Australia.
</li>
<li>
More than 310,000 accommodation days were provided between 1 July 2012 and 31 December 2012.
</li>
<li>
53% of women accessing Salvation Army SHS women’s services identified domestic and family violence as their main presenting issue.
</li>
<li>
44% of clients accessing Salvation Army SHS services identified housing affordability or housing crisis as their main presenting issue.
</li>
<li>
One in five clients accessing Salvation Army SHS services who provided information on their mental health have been diagnosed with a mental health issue.
</li>
<li>
One out of every eight clients who seeks homelessness services goes to a Salvation Army centre.
</li>
<li>
17% of Salvation Army clients identified financial difficulty as their main problem.
</li>
<li>
25% of clients accessing Salvation Army homelessness services have been homeless for more than six months.
</li>
<li>
Over 80% of Salvation Army SHS clients identified government support payments as their main source of income.
</li>
</ul>
  People can make a difference to those experiencing hardship by making a donation to the Christmas Appeal online or by calling 13 SALVOS.  
<a target="_blank" href="mailto:staylor@propertyobserver.com.au"></a><a href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>    
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Christmas charity to consider: Salvos' homeless assistance

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Residents in units and townhouses are asked to be mindful when decorating this Christmas to avoid unnecessary disputes with neighbours and potential fines.
Archers Body Corporate managing director Colin Archer said most bodies corporate had bylaws requiring approval to install Christmas lights on balustrades for safety reasons and in consideration of neighbours.
“Unit owners should check with their body corporate before installing lights and decorations to make sure they aren’t in breach of any bylaws,” Archer said.
“At this time of year, committees tend to be fairly lenient as most people enjoy the community spirit, however, it is important residents do due diligence to ensure all decorations comply with complex standards and don’t create any safety hazards.”
Archer said bodies corporate did not always want to be a “Grinch” but had to follow the bylaws to ensure all tenants are happy and safe.
“Bodies corporate should encourage unit owners to decorate within reason during the Christmas season to build a sense of community within a complex,” he said.
“There have been cases of unit owners being fined for their Christmas decorations if they are in breach of scheme bylaws.
“Bodies corporate should use this time of year to reconnect with owners and ensure they all feel part of the strata community.”
Archer had these tips for body corporate committees this Christmas:
<ul>
<li>State the period when Christmas lights can be installed and what date they must be removed. Typically these dates range from December 1 to December 31.</li>
<li>If building aesthetics is an issue ensure all tenants are aware of what type and colour lights are acceptable.</li>
<li>Communicate any rules as to the number and position of Christmas lights and decorations. If they can only be fixed to balustrades, make that clear.</li>
<li>Make tenants aware of what’s not allowed and why. For example, a six foot inflatable Santa Claus could pose a safety hazard or flashing lights on a balcony could upset neighbours directly opposite.</li>
<li>Have some fun – encourage a Christmas light competition between owners or charge a small fee to those who decorate and donate it to a Christmas charity.</li>
</ul>
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Lighting up your unit this Christmas

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Gosh, it’s that busy time of the year again. Everyone’s in a rush and there’s so much to do: get presents for the kids, book the annual holiday and plan for Christmas dinner.
Then, you have to move out of your rental property and find a new one to lease before the kids start school in January.
"What? Haven’t you found a place for us yet?" asks your better half incredulously. "You were going to do that weeks ago! What are we going to do now?"
Gee, better get cracking. It’s going to be busy out there:
Rob Exell, regional manager of the publicly-listed Run Property Group, which has 11,000 properties under management in Victoria, said the rush was always on pre-Christmas and early January as relocating tenants tried to get their children enrolled in new schools.
This is especially relevant as many – even primary schools – have catchment zones where their pupils must live or they can’t go there.
"So you can see how important it is for them to get settled in the right location," he said.
Excell says there are "quite a lot of properties available for rent at the moment, with a good turnover. We’ve had a lot of applications over the past six months and there is a good supply."
He pointed to a recent Run survey which found 197 two-bedroom properties for rent in the St Kilda and St Kilda East markets alone. They were seeking rent of $380-$450 a week.
"At the moment I am advising prospective landlords – often older couples who may be downsizing –to smarten up their homes in order to attract tenants. They should be recarpeting, repainting and renewing all aspects of their homes in order to set a point of difference.
"We are finding that there are so many new or well-done-up properties available that tenants are asking why they should rent old properties when they can rent new ones."
Excell said a frequent "sticking point" was an older property’s presentation – or lack of it. "Spending $7,000 or $8,000 on renovations is money well spent. From the landlord’s view it may not be a reasonable proposition, but the potential loss in rent would cost half that amount anyway."
Scott McIlroy, director of Hocking Stuart’s inner-north office covering the popular rental areas of Brunswick, Carlton and Fitzroy, said leasing inquiries were strong until mid-December before fading until mid-January. "We get people wanting to be settled by Christmas so they can relax and before they go on holidays, but people are looking all the time – they have their reasons.
"Actually, February is far busier than January because of university enrolments and early work starts, and of course, being on the northern side of town we are usually frantic because we are close to a major hospital, the university and access to the airport."
While the rush in the lead up to Christmas affects both vendors selling property and tenants seeking leases, there is often a major difference in their attitudes to property. "Renting is totally different to selling," McIlroy said.
"Tenants tend to be more picky than property buyers, who don’t mind overlooking certain shortcomings as they know it will be theirs soon. On the other hand, tenants have lots of options and they know they can pass on properties not up to their standard. They won’t pay extra."
McIlroy’s office – with 2,300 properties on its rent roll – is a "good litmus test doing 400-500 new rentals a year", he said.
His tip to prospective landlords in the lead up to Christmas is to present their properties as best they can. "A lick of paint and perhaps some new carpet will make a lot of difference to the new tenant," he said. "And, with online listings, a house looks so much better with good quality furniture – even if it’s hired for the occasion."
On-screen, even <a target="_blank" href="https://www.propertyobserver.com.au/news/does-virtual-furniture-assist-property-marketing-campaigns/2013110566105">virtual furniture can bring a room to life</a> where there were only drab painted walls.
Alex Musman, of Thomson Real Estate Murrumbeena, said the feeling of an approaching Christmas "deadline" for renters – and landlords - was exacerbated by the looming holiday period. "We are closed over Christmas and so there’s no ability for us to let a property then," he said. "I feel the pressure because if we can’t get a suitable tenant in before the break then the landlord will be losing money.
"We know when a property’s coming up for rent in this busy period so we really push it."
In what he describes as a ‘tenants’ market’, Musman said Thomson had 60-70 properties coming up for rental and it was "very important that we get them let".
He said it "seems strange" that there are so many rental vacancies on the books but a lack of confidence in the jobs market - and the availability of so many other properties - may have enticed tenants to seek new digs.
Whether you’re a landlord or tenant, the pre-Christmas property rush can be daunting. To succeed in finding a tenant, or a house to rent, start spreading the message to as many people as possible. Use real estate search engines Nestoria, Flatmates, or Gumtree as well as the more established realestate.com.au or domain.com.au.
But don’t stop there: By putting eye-catching flyers in neighbours’ letterboxes, or handwritten notices saying ‘Tenant wanted’ or ‘House wanted’ and your details on shop windows, or the supermarket notice board, you can achieve results.
So, what’s stopping you? Get onto it. Christmas is nearly here!
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
 
 
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Christmas rush trying time for renters, landlords

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When the school year ends, students usually let their hair down by running amok on schoolie holidays: swimming, getting sunburned, partying and getting drunk – all in that order.
But not everyone: Luke Moore and Natasha Naido, of Gosford on the NSW Central Coast, celebrated with a three week ‘’adventure’’ around Vietnam, Japan and, most importantly, Cambodia, where they visited the rural village school their fundraising efforts had built.
The project began when the Central Coast Grammar School students were casting about for a worthwhile project as part of an extra activities program in their HSC year. They had visited Cambodia on a school program previously and saw first-hand the charitable work of Tabitha, a non-profit organisation which runs self-help programs focusing on personal and financial development.
<img alt="luke_dec_18_one" src="/images/stories/2013/12/18/luke_dec_18_one.jpg" height="264" width="470">
Back home, they decided to help the foundation and set about organising a range of fundraisers. These included a movie night - with ‘Skyfall’ the attraction, followed by a concert with help from the local council, a trivia night and a Cambodian food night. All up, the pair raised a commendable $26,500 over 10 months. Of this, $25,000 built the school and $1,500 went towards digging wells in a country where safe water is a priority.
‘’This time last year we held our first event and it’s culminated in the building of the school which has 200 students aged four and a half to 16 and four teachers,’’ Natasha, 17, said.
As she explained in a letter to Tabitha: ‘’We were driven for hours along the highway from Siem Reap and along dusty roads into the Banteay Meanchey Province. Pulling around a corner we were stunned to see 200 neatly uniformed students lining the road, clapping and cheering and running after the bus to where their school stood. ‘’We were involved in a handing over ceremony to the main four teachers and shown around each of the classrooms in which we were able to ask about their subjects and ambitions through the translator. Many of the students told us they wanted to be policemen, teachers and doctors which made the whole experience so rewarding. ‘’What struck me most about our visit to the school wasn't the large building, the sign bearing our names or the enthusiasm with which the students approached their studies. It was simply that the children were so happy to be going to school every day with their friends and learning about new things.
‘’In Australia - where we often take school for granted - a lot of the time we forget the simple fact that education is a joy. Although the facilities, opportunities and teachers were great, I have no doubt these children will succeed in their studies simply because they love going to school. ‘’I hope you'll enjoy the photos I've attached, especially the cheeky smiles of the students.’’
Natasha said the festive season reminded us of the gift of giving: ‘’For me it is a time to appreciate again the generosity of all those who helped us to achieve our goal in Cambodia.’’
Now, after enjoying the bonhomie and laughter from a sea of smiling young faces, she and Luke can relax and celebrate a job well done.
<img alt="luke_dec_18_two" src="/images/stories/2013/12/18/luke_dec_18_two.jpg" height="294" width="470">
Ian MacDonald, director (volunteer), of Tabitha Foundation Australia, described Natasha and Luke as ‘’amazing’’.
‘’I couldn’t believe when Natasha first contacted me. She’d found out about us and our cause and was doing her ‘due diligence’ on us. I was amazed at her maturity.’’
He explained that the Tabitha Foundation, the Australian fundraising arm, focuses on three major activities in Cambodia to assist its poor, but rapidly growing, population: the building of houses for the poor, the building of schools for a rising school-age population, and the digging of wells, with a target of 3000 by September 2014.
Support comes from corporate benefactors, general fundraising, philanthropic individuals, and from those wanting to donate to a worthwhile cause, such as the man whose wife had died of cancer and who was eager to fund a school in her honour.
Tabitha – founded in 2002 - has minimal overheads and running costs. Funds raised help the poorest people in Cambodia by running self-help programs focusing on personal and financial development. As communities transform and evolve out of poverty, there is an increased need for schooling and this is where Tabitha takes on a different form.
MacDonald said a program termed “Family Development through Savings” - a sort of micro-banking program - was the key to Tabitha’s success in Cambodia.
‘’At any one time, Tabitha is assisting over 59,000 families - or 472,000 people - to save their way out of desperate poverty – getting them to help themselves,’’ he said.
‘’We go to the villages and encourage people to put aside small amounts each week, to set savings goals and generate a sustainable lifestyle.’’
So far, over 187,000 families – 1.5 million people - have ‘graduated’ from the savings program, MacDonald said, with participation a pre-requisite for inclusion in other Tabitha programs.
Community development is achieved also by providing employment and income by teaching and selling Cambodian handcrafted items, and house-building by volunteers for families who cannot afford a home. The aim is to transform lives to fruitfulness with dignity.
So far, Tabitha Foundation has raised more than $6.6 million – all of which has directly supported projects in Cambodia.
Australian property professionals, including Destiny Financial Solutions' Margaret Lomas, have also supported the program by donating time and money.
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Christmas charity for home building: The Tabitha project

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Home services tradesman Todd Buzza, of Vermont South, is the subject of a public warning by Consumer Affairs Victoria.
The director, Dr Claire Noone, says Buzza is a former bankrupt who advertises cheap building services using several business names: Superfinish Oz Pty Ltd, Superfinish Plaster, Fine Plastering, Buzza Constructions, Buzza Corporation, Smart Bathrooms and All Plastering Services.
She said CAV had received complaints alleging he had taken payment for work he has not done, not completed or carried out to a poor standard.
"Home owners should be wary of handymen advertising cheap or heavily discounted work, providing low quotes or asking you to pay large deposits," Dr Noone said.
In December 2012, Buzza was convicted in Ringwood Magistrates' Court of failing to disclose his bankruptcy to customers after he was prosecuted by the Insolvency and Trustee Service Australia (now known as the Australian Financial Security Authority).
Dr Noone advises home owners thinking of hiring a tradesman to do their own checks, and take specific steps:
<ul>
<li>Get at least three quotes on the same detailed description of the job.</li>
<li>Check the reputation and references of any handyman or tradesperson before hiring them. Search for names, registered business names and an Australian business number (ABN) online, and contact previous clients for references. An established business will be able to provide references.</li>
<li>Confirm the tradesperson or builder is registered or licensed for the type of work they will be doing.</li>
<li>Have a written contract for all work – even small jobs – that clearly specifies the work to be done and the total cost. Put any agreed changes in writing.</li>
<li>Do not pay excessive - or cash - deposits.</li>
</ul>
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Victorians warned for cheap handymen over Christmas season

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Older, more established suburbs like Preston in Melbourne’s north have come into their own as popular residential areas.
And not without good reason: they are within easy commuter distance of the city, they are near work opportunities and public transport is laid on. Northland shopping centre is not far away.
On top of this, there’s a huge variety of existing housing stock, many Californian bungalows and brick veneers, and a new influx of apartments and units. Something for everyone it seems...
The result of this popularity has been a surge in median prices for houses and units.
Australian Property Monitors’ chief economist, Dr Andrew Wilson, said Preston was one of the more popular ‘growth’ areas in Melbourne’s northern ‘middle ring’ of suburbs.
It’s still a growth suburb as regards property prices and it is still ‘gentrifying’, but it was one of the better performing suburbs in Melbourne this year,’’ he said.
Preston had 211 sales in the six months to November 30 for a 75% clearance rate (as against Melbourne’s 71%). The median house price is $630,000 and median unit price $400,000 – both higher than the Melbourne median - and 5% higher than three years ago.
House prices are up 9.6% over the past 12 months and unit prices 6.4%.
Wilson said the former working class and migrant suburb was attracting buyers because it was still affordable and because of its established infrastructure, especially public transport. ‘’It doesn’t have the rows of quaint Victorian houses of some neighbouring suburbs but it does have a good spread of housing stock.
‘’It’s ticking all the boxes with rising prices, an increase in sales and higher clearance rates. Prices will probably moderate next year but Preston will still offer good value to buyers.’’
At the 2011 Census, Preston had a population of 29,925 – and a host of real estate agents.
Senior salesman at Peter Markovic Real Estate, Angelo Scambiatterra, said the Preston real estate market was staying high – welcome news for vendors. He said property values in the suburb, 9km from the CBD, had ‘’skyrocketed over the past two years although they are still a bit lower than in neighbouring suburbs Thornbury or Northcote’’.
Sales volumes are ‘’a bit down at the moment – from 300 to around 240 properties on the market’’, but demand is still strong.
The suburb has many appealing residential locations with wide, tree-lined streets and a stock of double fronted Californian bungalows on 500-620 square metre blocks. Prices range from $700,000 up to $1 million.
Many areas are magnets for developers, such as along St Vigeon’s Road, where five established family homes ‘’all in a row’’ were knocked down and replaced by four town houses on each block. There’s also been a lot of townhouse redevelopment along The Broadway and in the side streets off Cheddar Road, as well as an enormous amount in neighbouring Reservoir.
‘’The bottom end of the market is around $400,000-$450,000 and the top end is in the Oakhill estate off High Street where prices are $750,000-$1 million,’’ Scambiatterra said.
‘’Most residents are owner-occupiers: families with children at local schools. There are a lot of people in the 30-50 year age group with most wanting to live there rather than simply invest.
‘’Darebin Council does a good job and there are low rates and good infrastructure.’’
Wendy Jeng, director of YPA estate agents in Preston, said State Government guidelines on higher density development would make it easier for developers to buy and rebuild apartments and townhouses in the northern growth corridor – from Preston through Reservoir and Epping.
‘’Since the guidelines’ release (in July) the market has picked up with greater interest – especially from developers but also from prospective home buyers wanting houses,’’ she said. ‘’Most vendors seem to be getting used to the new rules and evaluating their position before acting.’’
Jeng said Preston had long been a migrant suburb – first with Greeks and Italians post-war and later attracting Asians - mostly Vietnamese, Chinese, Indian and Korean. A cosmopolitan atmosphere added to its appeal.
She believes high property prices will remain steady next year, as will interest rates. The low dollar – which has been making it easier for foreign home buyers and especially the Chinese in other areas – won’t have much local effect. ‘’We don’t have many overseas buyers in Preston.’’
<a href="https://www.ypa.com.au/listings_residential_id/15693/property_details">https://www.ypa.com.au/listings_residential_id/15693/property_details.html</a>
<a href="/news">https://www.propertyobserver.com.au/data/suburb/preston-vic</a>
<table border="0" cellpadding="0" width="267"><tbody>
<tr>
<td colspan="3">
House prices
</td>
</tr>
<tr>
<td>
Median sale price
</td>
<td colspan="2">
$605,000
</td>
</tr>
<tr>
<td>
Change in median price in last year
</td>
<td colspan="2">
4.9%
</td>
</tr>
<tr>
<td>
Change in median price in past five years
</td>
<td colspan="2">
25.8%
</td>
</tr>
<tr>
<td>
Average discount
</td>
<td colspan="2">
-8.3%
</td>
</tr>
<tr>
<td>
Average time on market
</td>
<td colspan="2">
79.8
</td>
</tr>
<tr>
<td>
Average hold period
</td>
<td colspan="2">
11.8
</td>
</tr>
<tr>
<td>
Median price for houses $350k to $750k
</td>
<td colspan="2">
$580,000
</td>
</tr>
<tr>
<td>
Median price for houses over $750k
</td>
<td colspan="2">
$826,000
</td>
</tr>
<tr>
<td colspan="3">
Rents
</td>
</tr>
<tr>
<td colspan="2">
Median asking rent
</td>
<td>
$390
</td>
</tr>
<tr>
<td colspan="2">
Indicative gross rental yield
</td>
<td>
3.4%
</td>
</tr>
<tr>
<td colspan="3">
Unit prices
</td>
</tr>
<tr>
<td>
Median sale price
</td>
<td colspan="2">
$391000
</td>
</tr>
<tr>
<td>
Change in median price in last year
</td>
<td colspan="2">
-0.2%
</td>
</tr>
<tr>
<td>
Change in median price in past five years
</td>
<td colspan="2">
9.6%
</td>
</tr>
<tr>
<td>
Average discount
</td>
<td colspan="2">
-6.4%
</td>
</tr>
<tr>
<td>
Average time on market
</td>
<td colspan="2">
67.3
</td>
</tr>
<tr>
<td>
Average hold period
</td>
<td colspan="2">
7.4
</td>
</tr>
<tr>
<td>
Median price for units $350k to $750k
</td>
<td colspan="2">
$453,000
</td>
</tr>
<tr>
<td colspan="3">
Rents
</td>
</tr>
<tr>
<td colspan="2">
Median asking rent
</td>
<td>
$333
</td>
</tr>
<tr>
<td colspan="2">
Indicative gross rental yield
</td>
<td>
4.4%
</td>
</tr>
</tbody></table>
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a> 
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Suburb spotlight: Preston coming into its own with prices surging

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Pacific Fair on the Gold Coast will be transformed into a world-class shopping destination with a major $670 million redevelopment to begin next month.
The investment will make it the largest shopping centre in Queensland and the fourth largest in Australia.
The redevelopment will include a new Woolworths, a relocated full-line Coles supermarket (which will anchor the new fresh food marketplace), David Jones, Big W, around 100 new specialty stores and 1,300 additional parking spaces.
The centre will be integrated with a two-level mall connecting the new and existing sections, adding 46,500 square metres of retail space.
On completion Pacific Fair will cover 150,000 square metres with 420 shops, restaurants and entertainment destinations under the one roof.
AMP Capital Shopping Centres managing director Bryan Hynes said AMP Capital will create an exceptional luxury shopping and leisure experience that will attract residents as well as international and domestic tourists.
“The Gold Coast is Australia’s No. 1 tourism destination with more than 11.5 million visitors each year, so attracting tourists is a key focus for the centre.
“Pacific Fair will be a Gold Coast ‘must-visit’ destination with five-star resort ambience and a unique indoor/outdoor environment reflecting the Queensland lifestyle.
“While this will appeal to tourists, it will also provide residents with an exceptional local destination for shopping, dining, leisure and entertainment.”
As the fastest-growing region in Australia, the Gold Coast continues to rapidly attract new residents for its lifestyle, climate and opportunity, Hynes said.
“AMP Capital saw an opportunity to grow and expand the centre to meet this predicted growth as we aim to provide investors with consistent performance on their investment.
“The project will boost the Gold Coast economy by creating around 1,600 construction jobs and 950 retail jobs on completion. We continue to look at opportunities for long-term investment in Queensland.”
AMP Capital has appointed Westfield Design and Construction to build the development, with an expected completion date of late 2016.
Pacific Fair is managed by AMP Capital Shopping Centres and is owned by AMP Capital managed funds after acquiring the 40% share formerly held by Westfield Group and Westfield Retail Trust in 2012.
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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AMP Capital kicks off $670 million redevelopment of Pacific Fair

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A prominent Sunbury retail site occupied by Kirkham Homes sold for $822,000 last week. The price represents a yield of 6.5%.
The corner site was among 15 offerings put under the hammer by commercial agents Burgess Rawson at Crown Casino.
The builder has had offices at 5/92 Evans Street since 2002. Its lease extends until 2021.
The 120 square metre shop, with a 24 metre dual frontage, adjoins a Harris Scarfe outlet and is handy to Big W, Woolworths, Foodworks and Coles. The rent is $53,396 with annual CPI reviews.
Auctioneer David Scholes said the area had a fast-growing trade catchment of 60,000 people.
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Prominent Sunbury retail site sells at auction for $822,000

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

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FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

Joel Robinson

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Not all apartment amenities are immediately visible.

Swimming pools, gyms, rooftop terraces and residents' lounges have long featured on buyers' wishlists, but as the way Australians live has changed, so too have the features that make apartment living more convenient.

Increasingly, buyers are placing value on the practical aspects of day-to-day life. Fast internet, EV charging, secure bike storage, flexible workspaces and parcel management are becoming just as relevant as lifestyle amenities, reflecting changing habits and expectations.

Online shopping has been one of the biggest drivers of that shift.

Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally, making parcel deliveries a routine part of everyday life rather than an occasional convenience.

For apartment residents, however, receiving those deliveries isn't always straightforward.

Without someone home to accept a parcel, deliveries can be redirected to a nearby Post Office, left in building foyers or common areas, or require building management to temporarily store packages. As apartment living continues to grow across Australia's cities, parcel management has become an increasingly important consideration for both residents and developers.

Australia Post's Parcel Locker network is one response to that shift.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/KPZ9j5FRdsQ?si=Qztc1dNP3ZvEIUhb" title="YouTube video player" width="560"></iframe>

Rather than relying on home delivery, eligible parcels can be directed to a nominated Parcel Locker, where they're securely stored until collected. Once a parcel arrives, residents receive a notification through the AusPost app or SMS and can retrieve it using a one-time code or QR code at a time that suits them.

The network has expanded to more than 1,500 locations nationwide, with Parcel Lockers positioned at Post Offices, shopping centres, supermarkets, transport hubs and, increasingly, within or alongside residential developments.

That growing presence reflects a broader change in how apartment buildings are being planned.

Developers are increasingly considering the operational side of apartment living alongside traditional lifestyle amenities. Just as secure mailrooms, bicycle storage and EV charging have become more common inclusions, parcel management is emerging as another feature that supports everyday convenience.

It also helps preserve the arrival experience within a building. Carefully designed lobbies and communal spaces can quickly become cluttered when deliveries accumulate, while secure parcel solutions reduce the likelihood of missed deliveries or parcels being left unattended.

For buyers comparing apartments, these everyday details are becoming part of the decision-making process.

Location, floorplans and finishes remain fundamental, but the features that simplify daily life are carrying greater weight than they once did. As online shopping continues to shape consumer behaviour, secure parcel delivery is increasingly becoming another amenity worth looking for.

Parcel delivery is joining the apartment amenity checklist

Inca Property Group has lodged a State Significant Development Application (SSDA) for Dawn, a 53-apartment oceanfront development overlooking Mona Vale Beach.

The proposal, at 35-39 Darley Street East, would replace an existing 18-apartment strata building with a new owner-occupier-focused development comprising 53 two and three-bedroom apartments, including nine affordable built-to-rent residences delivered under the State's infill affordable housing scheme.

Positioned on a 2,679 sqm elevated site around 280 metres from Mona Vale Beach, the development has been designed to maximise panoramic ocean views while responding to the site's sloping topography.

<a href="https://www.apartments.com.au/developers/inca-property-group">Inca Property Group</a> Managing Director Josh Thompson said the State Significant pathway provided greater certainty for projects of this scale.

"This State Significant pathway gives the team real certainty to progress <a href="https://www.apartments.com.au/new-apartments/dawn-35-39-darley-street-east-mona-vale-nsw-2103">Dawn</a> through to completion," Thompson said.

"It allows us to acquire a one-off site, design it carefully and deliver the right offering for the suburb, assessed by the NSW Government's planning department."

The project is one of the first developments in the area to be assessed under the NSW Government's Low and Mid-Rise Housing policy, with the site sitting on the edge of the policy's designated inner area.

The proposal includes three basement levels providing 124 car spaces, alongside a range of resident amenities including a swimming pool, gym, sauna, wellness facilities and private plunge pools for selected ground-floor and penthouse apartments.

<img alt="Dawn" data-entity-type="file" data-entity-uuid="fc1a1daf-0ce4-4f12-9076-b1fa553c7a91" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-21%20at%208.42.11%E2%80%AFAM.png?VersionId=4GZ9h.gpNkTljbxyAET8Jfhv51XUamDm" />

Thompson said Dawn had been designed specifically for owner-occupiers and downsizers, a buyer profile that has driven demand across Inca's recent Upper North Shore developments.

"The majority of buyers in our recent North Shore projects have been downsizers, and we are learning exactly what this market is looking for. Beyond the location itself, we have included resort-style amenities to deliver a genuine lifestyle offering," Thompson said.

Located within walking distance of Mona Vale Beach, the town centre, Mona Vale Golf Club and the Royal Motor Yacht Club, Dawn represents Inca's first Northern Beaches project following the sell-out of Tara on Park in Waitara and Ellis Residences, currently under construction in St Ives.

Construction will be undertaken by Inca's in-house construction arm, GOP Constructions.

Dawn is the latest major apartment proposal for Mona Vale, with the suburb emerging as one of the key beneficiaries of the NSW Government's new Low and Mid-Rise Housing policy.

New developer One Living, led by industry veteran Joseph Scuderi, recently secured a site on Mona Vale Road, on the border of Mona Vale and Pymble, where it is planning around 140 apartments.

IPM is also planning its third project in Mona Vale, significantly increasing the scale of its previous developments with an 82-apartment proposal at <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and less than 800 metres from Mona Vale town centre.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/one-living-enters-sydneys-new-apartment-market-with-northern-beaches-site-acquisition">One Living enters Sydney's new apartment market with Northern Beaches site acquisition</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-ipm-plans-third-mona-vale-project">First look: IPM plans third Mona Vale project</a>

Stephen Taylor

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