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The vagaries of resources booms and busts have been heavily felt at the central Queensland mining town of <a target="_blank" href="/news">Moranbah</a>, about 193 kilometres south-west of Mackay.
The coal town of around 10,000 is on the Peak Downs Highway on the way to Clermont in the Bowen Basin. It was established in 1969 to service the expanding mining industry.
When coal prices were booming towards the middle of last year, so was the town’s real estate, with some properties selling for record prices of $900,000, and others renting for up to $4,000 a week.
That’s certainly not the case now. A drop in coal prices has undermined real estate, and the huge numbers of fly-in-fly-out workers living in camps – up to 10,000 workers - has caused social pressures, residents say. They don’t help real estate as they live outside the town.
Terry Ryder, founder of hotspotting.com.au, said earlier this year that the use of FIFO workers removes pressure on local rents and prices. Workers fly in or drive in for their shift, stay in temporary workers accommodation provided by the mining company and head home when their shift is done.
‘’There are all kinds of negative impacts of this – and this is what a recent federal inquiry looked at – but rising rents and prices is not among them,’’ he said.
‘’The BMA (BHP-Mitsubishi Alliance) plan to have 100% FIFO workers on two new mines in the basin has all kinds of impacts on towns like Moranbah, but they don’t include pushing up property prices because none of the FIFO people live in the town.
‘’Moranbah rents and prices are falling right now, with residential vacancies up around 7%. In nearby Dysart, vacancies are approaching 15% and rental yields, previously above 10%, are now down around 5%.’’
Long time resident John Wood, of Moranbah Real Estate, described the local real estate market as ‘’slow, flat’’ but said it was ‘’at the point where it can’t fall any further’’.
Average prices are now $340,000 to $360,000 for houses with average rentals around $400 a week (boom times $1800) or, for newer style houses, $1000 a week (boom $3000).
‘’Everyone wants 10% yields but the norm is around 7% now,’’ Wood said.
For sale:
{yoogallery src=[images/stories/2013/11/14/mor1]}
Moranbah Real Estate is selling <a href="https://www.moranbahrealestate.com//Moranbah/Queensland/Homes/Moranbah/Agent/Listing_65829078" target="_blank">22 Lambert Court, Moranbah</a>  (pictured above) for $780,000. The single storey brick rendered house on a rectangular block has five bedrooms and two bathrooms. It has been newly tenanted at $2,000 a week. It is four years old with spacious living areas, floating timber floors and covered entertainment areas. The kitchen has a breakfast bar and stainless steel appliances.
There’s a lock up double garage with remote control door, Colorbond shed and carport.
For rent:
{yoogallery src=[images/stories/2013/11/14/mor2]}
Moranbah Real Estate is offering <a href="https://www.realestate.com.au/property-house-qld-moranbah-407106986" target="_blank">29 Jackson Avenue, Moranbah</a> (pictured above) for $1,000 a week. The two storey house has seven bedrooms, three bathrooms and six-car accommodation. It has a large kitchen upstairs and new kitchen downstairs. There’s a low maintenance yard. The bond is $4000.
RP Data reports that over the past 12 months 222 houses were sold in Moranbah for a median price of $742,825 and at a 50-day average on the market. Forty-one units were sold at a $385,000 median.
staylor@propertyobserver.com.au
 
 
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staylor-63KgDrKwoY

Suburb spotlight: Moranbah mining bust felt heavily

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Vacancy rates across Sydney’s popular inner and middle suburbs have tightened as first home buyers, struggling to afford properties, look to rental accommodation.
The October 2013 Real Estate Institute of New South Wales Vacancy Rate Survey shows availability across the Sydney metropolitan area is steady at 1.7%.
REINSW president Christian Payne said the rate was the lowest the middle suburbs had experienced in 18 months. "It is yet another indicator of how the abolition of incentives on existing properties for first home buyers is causing issues across the marketplace."
Other figures are:
• Inner suburbs (0-10 kilometres from the CBD) are down 0.1% to 1.7%
• Middle suburbs (10-25 kilometres from the CBD) fell 0.2% to 1.6%
• Outer suburbs (more than 25 kilometres from the CBD) are up 0.2% to 1.7%
"First home buyers who can’t afford to buy their dream homes are putting substantial pressure on the
rental market," Payne said.
"Middle suburbs, including Auburn, Burwood, Hunters Hill, Parramatta and Ryde are some of the hardest places to find accommodation in Sydney."
Outside Sydney, the Hunter fell 0.1% to 2.9% despite Newcastle’s increase of 0.7% to 2.4%. The Illawarra remained steady at 2.0% even though Wollongong’s vacancy rate rose 0.4% to 2.3%.
In regional areas, Albury is the hardest place to find rental accommodation after a decline 0.2% to 1.8%. Orana, which had previously held the title, jumped 0.6% to 1.9%.
Northern Rivers’ availability rose 0.2% to 3.1% and New England was up 0.5% to 2.9%.
Meanwhile, the easiest place to find rental accommodation in the state is the Central West after a rise of 0.3% to 4.1%. South Eastern NSW added 0.5% to 4.0%. Coffs Harbour’s availability leapt 0.8% to 3.8%.
<a target="_blank" href="mailto:staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
 
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Struggling first home buyers pushing down Sydney's inner and middle suburb vacancy rates

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Fancy a regular family skiing holiday in the European Alps? Why not buy a chalet there then?  
A new website, <a href="https://www.skiingproperty.com/" target="_blank">Skiing Property</a>, is promoting the purchase of new-build and off-the-plan properties in popular ski resorts in France and Switzerland.  
It has a portfolio of property developments listed by resort with full details and photos. The site also features a blog and glossary to keep buyers informed about the ski property market, and a free downloadable guide to buying an alpine ski home.  
Resorts properties for sale, both leaseback and classic freehold, are at Courchevel, Méribel, Les Gets, Chatel, Tignes and Val d'Isère in France, and Flims in Switzerland.  
‘’Ski property has proved to be one of the most buoyant sectors of the overseas property market, with some resorts even seeing price rises this year - unusual in much of Europe in the current climate,’’ director Julian Walker said.  
‘’Tight supply and controlled development, combined with huge lifestyle appeal and a strong international market, mean ski homes in quality resorts will always be good long-term investments. At Skiing Property we focus solely on new-build and off-the-plan projects, which typically offer better capital appreciation than resale properties."  
Buying new or off-the-plan in the French Alps may have key benefits, such as:  
-  Increased potential for capital appreciation, as units are often sold at a discount. Once a project becomes established, demand typically increases, especially as new development sites become harder to come by.  
-  Developers often offer attractive finance deals or payment schemes, not available on existing resale property. This is appealing as French interest rates are at record lows.  
-  Buying into a leaseback residence offers the opportunity to buy and finance a property net of VAT. Leaseback contracts also allow an option that suits your preferred amount of annual usage.  
-  In France, purchase costs for off-the-plan or new-build are lower than for resale property. If you do buy outright, sellers of new property less than five years old no longer need to pass on a charge for VAT to a buyer (unless the vendor is VAT registered).  
-  New-build property in France comes with a two-year exemption of Taxe Foncière, one of France's two council taxes.  
-  New property in the Alps will come with a guarantee from the developer, who will also be obliged to take care of any faults when the new owner takes possession, called snagging. Also, new property is built using more energy-efficient materials than in older resale homes.  
"Skiing Property aims to become a leading promoter of new property in the Alps, offering something for all budgets, whether it be a leaseback apartment in Chatel from €225,000 to luxury chalets in Méribel from €3.25million," Walker said.  
<a target="_blank" href="mailto:%20staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
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Website offering off-the-plan Swiss ski chalets

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Low income households in Beenleigh have been given some good news with 12 new and affordable houses available through the National Rental Affordability Scheme.
Opening the complex on Tuesday, housing minister Tim Mander said the project marked the 2,000th dwelling delivered in Queensland by the National Affordable Housing Consortium.
“The National Rental Affordability Scheme is a key part of our Housing 2020 vision,” Mander said.
“Projects like this one are a godsend for people who may otherwise face a long wait for social housing.
“The Newman government promised to revitalise frontline services for families. That’s particularly important when it comes to helping people on low or modest incomes.’’
Properties in the scheme fill an important gap in the market for those who may not be considered high-needs, but who still struggle to find an affordable place to live, he said.
“Under the joint state and federal program, properties must be rented at no more than 80% of the market rate for that area.
“Building 2000 properties in five years is a fantastic effort from the team at NAHC, not to mention a great result for Queenslanders.”
NAHC chief executive Mike Myers said the rental affordability scheme was making ‘’a real difference’’ to the lives of thousands of families.
“A typical NRAS tenant is saving over $90 per week in rent and this makes a huge difference to those on lower incomes” he said.
“We have another 1,000 homes in our construction pipeline and remain fully focused on meeting community needs for affordable housing.”
Mander said the government was committed to delivering an additional 12,000 social and affordable housing dwellings throughout the state.
“Our job is to make sure Queensland has a flexible, efficient and supportive housing system that gives all Queenslanders the dignity that comes from having a safe and affordable place to call home.”
<a target="_blank" href="mailto:%20staylor@propertyobserver.com.au">staylor@propertyobserver.com.au</a>
 
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New NRAS properties announced for Beenleigh, Queensland

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So, you’ve got the home loan, bought the house and are now you’re settling in ...
Well, don’t get too comfortable - nothing stays the same and a proactive approach to your borrowing arrangements over time can save you thousands.
It seems your home loan can be likened to the car you drive – just as it reflects your lifestyle, needs and goals at any stage in life, so, too, should your home loan.
"This is well illustrated by the fact that the cheap runabout you drive when you’re in your early 20s is very different to the seven-seater four-wheel-drive you’ll need in your 40s when you have three children and their friends to transport," says Smartline Personal Mortgage Advisers’ Michelle Schaafsma.
"A young couple starting out who have managed to save their deposit and are in the early stages of their careers, on entry level incomes, probably only need a basic loan with minimal fees and features that simply allows them to maximise paying every dollar off as quickly as possible.
"However, five years later they’re in a very different situation. They’ve paid off a chunk of their home loan and both are earning considerably more and perhaps saving for something significant, such as renovations or an overseas trip. They may well be better off with a home loan package that includes an offset account, redraw, a low fee credit card and a more competitive interest rate.
"Later in life, as the couple moves towards retirement, they may not want or need a complex loan or loan structure. They may well want a basic loan again that is going to allow them to quickly pay out the final amount owing on their home loan in the last few years of their working lives."
Schaafsma said a good mortgage broker would review each client’s situation annually to ensure that loan products and structures in place continue to meet their needs and goals.
She says clients who haven’t reviewed their home loan arrangements in the past three years could be getting a better deal. "The point of the review should not be to focus just on the interest rate on offer and the lender, although they are certainly key considerations, but to determine whether you need the same things out of a loan now that you did when you first took it out.
"If your lifestyle, requirements and financial situation have changed, for better or worse, then there is probably scope to investigate other options.
"Take the couple facing cash flow pressure as a result of reduced household income and/or considerably increased expenses, such as private school fees, who have diligently been making principal and interest repayments on their home loan for 10 years.
"They could probably refinance their mortgage and reset the term of their loan. This would considerably reduce their repayments and improve their household cash flow position and their whole lifestyle."
Schaafsma said the policies and criteria of the banks had changed considerably in recent years and continue to do so. "So, it might be that some forms of income (such as commissions or bonuses) that weren’t previously considered by your lender now are, or that you’re able to borrow a higher percentage of the property’s value.
"The competition in the home loan market also means banks tend to offer loans on more favourable terms to new customers, or existing customers who are prepared to ask for a discount.
"An experienced mortgage adviser will consider your current situation in depth and be able to advise of the best approach to maximise the opportunities available to you."
 
 
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Home loans need to change to reflect your lifestyle

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It’s a tale of two cities: Home loan approvals in September were the highest since October 2009 - yet the month had the lowest proportion of first home borrowers in two decades.
Figures from the Australian Bureau of Statistics show that the first quarter of the financial year had 12% national growth in loan approvals over the previous year and 13% year on year growth for September.
This comes on the back of record low interest rates, high clearance rates and a boost in the number of properties for sale.
However, increased investor activity – and a noticeable rise in cashed-up foreigners - has forced first home buyers out of the race, with their numbers falling from 13.7% of buyers in August to 12.5% in September.
The proportion of first home buyers in the number of owner-occupied housing finance commitments is now one in eight - the lowest since data was collected in July 1991, the Real Estate Institute of Australia says. It is far lower than the long-run average of 20.15%, despite eight interest rate cuts since November 2011.
In contrast, owner-occupied finance approvals rose 12.6% for the 12 months to September and investors took out 5.2% more loans in September than in August.  
"With the proportion of first home buyers at historic lows and figures indicating no bubble in lending, the Reserve Bank Board should be taking a ‘steady as she goes’ approach in December," said REIA president Peter Bushby.  
Changes to the first home buyers’ grants - which in Victoria is $10,000 for the purchase of new homes after July 1 this year but none for established homes – is being blamed for keeping first home buyers behind the eight ball. Pressure on them is further compounded by investors having greater equity in existing property and being able to borrow more at cheaper rates - without the need for mortgage insurance.  
But state treasurer Michael O’Brien said loan approvals for new dwellings in Victoria were the highest of any state. "Victoria contributed 29% of national loans for new dwellings in September which is above its population share of 24.8 %.
"The Coalition government is supporting first home buyers by increasing grants for new homes and bringing forward a major cut in stamp duty.
"Since July 1, more than 6,500 new home buyers have received the stamp duty concession, which amounts to almost $36 million in benefits to first home buyers.
"Targeting the first home owner grant to newly constructed homes – whether in regional Victoria, Melbourne’s growth corridors or new CBD apartments – will stimulate the economy and create jobs in the construction sector." He said the move "brings Victoria into line with New South Wales, Queensland and South Australia".
Loan Market director Mark De Martino said that the first quarter of the financial year was off to "a very hot start" with low interest rates and a recovering property market helping boost activity in the home finance space.  
"Nearly every state is showing double digit growth for the first quarter" De Martino said.  
The 51,938 home finance approvals in September were a rebound from the August figures which saw the first month-on-month drop in approvals in 45 months.  
High auction clearance rates this spring point to a continuing upward trend in market activity.  
De Martino said pre-approvals were helping buyers get a ‘leg up’ over the competition at auctions, although he agreed first home buyers were struggling to enter the market. "As the prospective pool of buyers grows, it’s only a matter of time before first home buyers return. 
"They are competing with cashed-up investors and upgraders who have significant equity in their properties. Building a sizable deposit and understanding their borrowing power with pre approval will give them the best chance to compete in this market."  
Number of Home Finance Commitments September 2013: ABS  
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>
State
</td>
<td>
September 2013 v 2012
</td>
<td>
Quarter v Quarter
</td>
</tr>
<tr>
<td>
NSW
</td>
<td>
9%
</td>
<td>
11%
</td>
</tr>
<tr>
<td>
VIC
</td>
<td>
17%
</td>
<td>
15%
</td>
</tr>
<tr>
<td>
QLD
</td>
<td>
11%
</td>
<td>
12%
</td>
</tr>
<tr>
<td>
SA
</td>
<td>
19%
</td>
<td>
16%
</td>
</tr>
<tr>
<td>
WA
</td>
<td>
11%
</td>
<td>
8%
</td>
</tr>
<tr>
<td>
TAS
</td>
<td>
6%
</td>
<td>
8%
</td>
</tr>
<tr>
<td>
NT
</td>
<td>
-1%
</td>
<td>
-11%
</td>
</tr>
<tr>
<td>
ACT
</td>
<td>
24%
</td>
<td>
23%
</td>
</tr>
<tr>
<td>
Australia
</td>
<td>
13%
</td>
<td>
12%
</td>
</tr>
</tbody></table>
<hr>
<img src="/images/stories/2013/11/06/jc-insights.png" width="140" height="150" alt="jc-insights" style="float: left;">PROPERTY INSIGHTS
<a title="Falling first home buyers numbers the result of state government FHB grant meddling" href="https://www.propertyobserver.com.au/news/falling-first-home-buyers-numbers-the-result-of-state-government-fhb-grant-meddling/2013111166285?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=jonathanchancellor'spropertyinsights">Falling first home buyers numbers the result of state government FHB grant meddling</a>
"The decline in FHB numbers follow the re-targeting of the originating FHB grants and/or stamp duty exemptions across the states to encourage FHBs to buy new homes not established homes."
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Home loan approvals soar while first home buyer proportion sinks

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An increased investor appetite for retail property by private and institutional buyers in Queensland is ramping up transaction levels across the state’s retail sector. This includes a renewed desire for bulky goods centres.  
The increase in transaction activity - both in total value and in the average size of transactions – is highlighted in a research report by estate agent Savills.  
Insight Retail Queensland shows a total of $2.2 billion worth of retail property sales above $5 million in Queensland in the 12 months to September - up from $1.46 billion in the previous year and well up on the five-year average of $1.13 billion.  
It shows that investor demand for the state’s retail assets is coming from all buyer categories: from private investors and syndicates up to institutional investors who accounted for $1.14 billion of the total $2.2 billion transacted during the year to September.  
The report shows that investor demand is growing across the whole spectrum of retail property: from regional, sub-regional, and neighbourhood centres to renewed interest for bulky goods centres.  
The average size of retail transactions has increased significantly: from $48 million in the previous year to $73 million in the year to September this year, reflecting the increased appetite for sub-regional and regional scale assets from institutional buyers.  
By number of sales, properties in the $10 million-$50 million price range proved the most popular, accounting for around 52% of the total number of properties transacted.  
 <img alt="queensland_retail_nov_6" src="/images/stories/2013/11/06/queensland_retail_nov_6.png" height="306" width="470">    
“Investors are sensing that the outlook for retail property with a five-year horizon is better than commercial offices, given that the national office vacancy has drifted above 10% with the major office markets all likely to go higher as new developments enter,’’ Savills Queensland retail sales director Peter Tyson said.  
“Accordingly, many of the institutional investors have signalled their desire to acquire more quality retail assets, suggesting yields are as generous as they are going to get.  
“We have already witnessed this year improved demand and increased competition with compression of yields for larger and prime assets. We expect this will continue as purchase opportunities remain tight, debt remains low and the weight of capital seeks to find a home.”  
Tyson said Queensland’s retail trade had grown to $54 billion annually and was now 20% of the national annual trade. He said sales in the household category had recovered from negative growth to be up 5% in the past 12 months.  
“One of the key criteria that investors are looking for is a balanced tenancy mix. That is, the right number of specialties-to-anchor ratio and the right variety among the specialty tenants,” he said.  
“Non-discretionary retail tends to hold up the best in economic downturns and, accordingly, neighbourhood centres have been consistently popular, although they do fall in the right price range also for a greater percentage of private investors and syndicates.  
“In the past 12 months, an appetite for bulky goods centres has re-emerged, particularly on the back of some attractive yields. Overall, the outlook for bulky goods has certainly improved, which is reflected in the volume of sales in this category, and we expect this to continue.”  
There are plenty of indicators to support an optimistic outlook for retail across the board, said Savills Queensland research director Paul Day. ‘’Interest rates are at record lows, unemployment is stabilising and likely to be contained below 6.5%, and household savings are at a 20-year high.  
“Improved margins in household savings and population growth will drive total spending. Already we are seeing Queensland outperforming the other states with 3.2% trend growth in retail turnover - double the Australian average for the 12 months to July 2013,” he said.  
“Population growth is again on the rise and the median house price differential between Brisbane and the southern capitals has again widened to more than $100,000. This will promote higher levels of interstate migration.  
“We see a jump in retail trade turnover coming which will enliven the sector and the economy in general. With the low cost of debt and improving prospects, appetite for investment retail property is likely to escalate with a subsequent tightening in yields for prime assets.  
“Judging by the demand this year for retail property - from the smallest convenience centre through to major centres - it appears that investors share the same sentiment for the sector.”  
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Queensland's retail sector ramps up under increased investor appetite

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The construction sector could be on the cusp of a long-awaited recovery, with the Australian Industry Group/Housing Industry Association Australian Performance of Construction Index recording expansion in the sector for the first time in more than three years.
The index jumped 6.8 points to 54.4 in October - passing the critical 50 point mark which indicates expansion.
‘’Consolidation over the next few months will show whether a sustained recovery will be built on the combination of renewed confidence and low interest rates during the first half of 2014,’’ Australian Industry Group director, public policy, Peter Burn, said.
He was backed up by Housing Industry Association chief economist, Harley Dale, who said: “The Australian PCI breaking into positive territory again for the first time in over three years is a milestone moment.
‘’The indications in recent months have been that this outcome was achievable, but there was a false dawn earlier in the year so this confirmation is heartening news for the construction sector. ‘’
The positive reading was led by the residential construction sub-sectors, however, all the sectors were back in the black with the apartments sub-sector recording the strongest growth in October – up 8.5 points to 66.2. Housing also rose strongly - by 3.8 points to 65.3 after a solid upturn in the previous month.
The new orders sub-index was 3.5 points higher at 54.3 reflecting an improvement in confidence and overall demand across construction in the month.
“The sharp lift of the index in October, which comes after a gradual easing of contractionary conditions over the past six months, is certainly welcome,’’ Burn said.
‘’Consolidation over the next few months will show whether a sustained recovery will be built on the combination of renewed confidence and low interest rates during the first half of 2014.
‘’The residential construction sub-sectors are showing most promise while commercial construction activity lifted from a low base and remains more fragile. Engineering construction recorded a welcome return to positive territory despite the cloud hanging over the near-to-medium-term prospects for this sub-sector as mining-related construction retreats from boom conditions.”
After his ‘milestone’ comment, Dale said: ‘’The indications in recent months have been that this outcome was achievable, but there was a false dawn earlier in the year so this confirmation is heartening news.
‘’The residential sub-sectors are leading the way. What appears a sustained improvement in both the house and apartment activity and new orders sub-indices is consistent with a broader recovery evident for leading indicators of new home building.
‘’The activity and new orders sub-indices for houses indicate further upward momentum ahead for detached house building approvals, itself a further tick in the box for a sustained new home building recovery.
‘’It will be important for recent gains in the Australian PCI to be maintained and built upon, but the results of recent months have certainly been pleasing.”
Australian PCI key findings for October:
<ul>
<li>
After almost three and half years in contraction – the Australian Industry Group/Housing Industry Association Australian Performance of Construction Index (Australian PCI) expanded in October lifting 6.8 points to 54.4.
</li>
<li>
Across the sub-sectors:  apartments (66.2) and house building (65.3) expanded at higher rates, while commercial construction (52.6) and engineering construction (52.7) returned to growth.
</li>
<li>
Overall construction activity lifted 5.4 points to 57.3.
</li>
<li>
New orders across the sector were stronger at 54.3 – reflecting the activity improvements across all sub-sectors.
</li>
<li>
After 40 months of decline, employment increased to 52.5 in October.
</li>
<li>
Selling prices continued to decline, although at a slower rate (48.9).
</li>
<li>
The increase in input prices was stronger in October (72.1).
 
 
</li>
</ul>
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Construction sector may be on cusp of recovery

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Real estate agents discussing self-managed super funds with potential investors had better watch out.
The Australian Securities and Investments Commission warns that they must understand their legal obligations – or face penalties.
That’s because those who recommend their clients use an SMSF to invest in property must have an Australian financial services licence.
ASIC has written to the REIA, the state and territory real estate institutes and property investment associations setting out its concerns and urging them to alert their members.
With the increasing popularity of SMSFs and property investment, many estate agents may not even realise they are providing financial product advice without a licence.
If providing any advice, agents must ensure they comply with legal obligations under the Corporations Act 2001. 
ASIC’s letters to the REIA and the real estate bodies warn that:
<ul>
<li>
If a person does not hold an AFS licence or is not authorised by an AFS licensee, they can only provide factual information to consumers in relation to SMSFs.
</li>
</ul>
<ul>
<li>
Where an AFS licence is required, estate agents must stop offering and providing financial services or advertising the provision of financial services until an AFS licence is obtained or they become a representative of an AFS licence holder.
</li>
</ul>
<ul>
<li>
A person convicted of carrying on an unlicensed financial services business may be fined up to $34,000 or imprisoned for two years or both. If a company is convicted it may be liable to penalties, including a fine of up to $170,000.
</li>
</ul>
ASIC commissioner Greg Tanzer said ASIC’s role in relation to SMSFs was to regulate the ‘gatekeepers’ – the advice providers, SMSF auditors, and providers of products and services to SMSFs. 
‘We want to ensure the SMSF sector remains healthy and vibrant so investors can be confident that, if they are receiving advice about investing through an SMSF, their adviser holds an Australian financial services licence and is aware of its obligations,’’ Tanzer said.
ASIC is also aware that some real estate agents are offering commissions or benefits to financial advisers for recommending investors use an SMSF to buy those agents' properties.
‘’Such commissions or benefits may be conflicted remuneration and financial advisers may be banned from receiving them under the future of financial advice reforms,’’ Tanzer said. This is because the commissions or benefits could reasonably be expected to influence the financial product advice given to retail clients.
The SMSF Professionals’ Association of Australia is backing ASIC, with CEO Andrea Slattery saying: “The ASIC warning is both timely and needed in light of the enormous media attention that has been given to this issue in recent months.
“From SPAA’s perspective, it’s been our constant stance on SMSFs investing in property that there are technical dangers, and, as such, we have always recommended that trustees get professional licensed advice, either from a professional SMSF advisor who holds a licence or is an authorised representative of a licensee.
“We took that position a year ago in a detailed technical bulletin to all our members warning of the risks of property investment, and it remains our position today.”
Slattery says property is an investment option for an SMSF, but, like any investment, it must be suited to the fund and take into consideration the members’ circumstances.
“In relation to property, there may be an interest in this asset class now because, in a low interest environment, people are looking for investment opportunities with higher yields than cash or bonds, and while there are still fears held about equities.
“It’s exactly because of this heightened interest in property that the regulator should be on the front foot to warn the real estate industry that its members must use licensed advice when recommending setting up an SMSF or recommending an SMSF acquires a property.’’
 
 
 
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ASIC warns agents about legal obligations for SMSF advice

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It may surprise some miffed suburban homebuyers in Melbourne and Sydney, but foreigners cannot buy established houses for investment or as homes in Australia.
This is at odds with the growing perception that cashed-up mainland Chinese buyers are forcing locals out of the property race.
However, foreigners can buy new dwellings, off-the-plan houses or apartments under construction or yet to be built, or vacant land for development.
The latest Knight Frank Global Development Insight report, which looks at global buying trends for new property around the world, reveals that Chinese investors are the most influential buyers in the this sector, with investors from Singapore and Russia second and third.
Key findings are:
<ul>
<li> 37% of respondents believe political and economic risk in a buyer’s home market as a key driver for international demand. </li>
</ul>
<ul>
<li>New York, Paris and London are among the most sought after markets. </li>
</ul>
<ul>
<li>47% of respondents believe ‘the safe haven effect’ is the biggest drawer for their market. </li>
</ul>
<ul>
<li>Education and lifestyle are increasingly important when investing overseas. </li>
</ul>
<ul>
<li>Chinese, Russian and US-based investors are all expected to retain and grow their market share in new-build property over the next 12 months. </li>
</ul>
<ul>
<li>Latin American buyers meanwhile, particularly those from Brazil and Mexico, are expected to feature more prominently in global new-build markets.</li>
</ul>
<ul>
<li>China’s growing importance reflects the rise of Asia as a wealth creation hub. Asia is second only to North America in the number of billionaires, and the number of high-net-worth individuals in China is forecast to rise by 137% over the coming decade, according to data contained in The Wealth Report.</li>
</ul>
"There is strong demand from Asian buyers across all hubs in Australia, especially in Sydney and Melbourne,’’ says Sarah Harding, Knight Frank’s international project marketing - network director.
‘’We expect continued buyer activity from overseas, with buyers coming from China, Hong Kong, Singapore, Malaysia and Indonesia, driven in part due to tightening measures which continue to be imposed on Asian markets in an attempt to cool house prices.
‘’The report reveals that Sydney is rated as No. 1 for buyers in Hong Kong, while Indonesia ranks Sydney as the third top city. This could also be mainly attributed to the proximity, high standards of education and lifestyle options available in Australia."
Harding said offshore developers have been ‘landbanking’ sites over the past year, with Chinese and Malaysian developers actively marketing apartments in their local markets.
‘’Over the next three years we anticipate development activity to ramp up as the number of high-net-worth individuals in China is forecast to rise by 137% over the coming decade."
As well as being the top purchasers of new-build residential property in Sydney and Hong Kong, Chinese buyers are active in Kuala Lumpur and Bangkok’s prime new-build markets. They are growing in strength in key western markets, particularly New York.
The Chinese buyers’ global presence is fuelled by a strong Yuan and slowing domestic economy, encouraging Chinese investors to look further afield to diversify their investments, the Knight Frank report said.
Singaporean and Russian investors are the next most active buyers of new-build residential property around the world, followed by UK and US buyers.
Concern about the rise of Chinese buyers in Australia is in contrast to many European countries, which are tempting international investors with promises of residency and a reduced tax bill. This is because foreign buyers help stimulate struggling mainstream property markets and boost economic growth.
In Spain, Portugal and Greece, for example, large amounts of stock remains unsold as a result of property booms that came to an abrupt halt in 2008. In Spain, estimates suggest that at the end of last year there were around 700,000 new homes unsold on the market.
According to official data, mainstream property prices in Greece, Spain and Portugal are now 31%, 29% and 19% below their respective market peaks.
Knight Frank’s residential development teams around the world report that Asia - home to five of the top 10 leading buyers - should be viewed as an important market for developers to showcase new projects.
‘’In terms of pricing, research indicates that the leading international buyers for prime new-build residential property spend between $1.8 million and $3 million, and typically look for apartments with two or three bedrooms,’’ they say.
</body></html>

Foreign buyer limitations on property may come as surprise

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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