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In today’s world most goods or services that are offered on the market have a fixed asking price. They are offered for sale without the option to negotiate, which is called “bargaining”.
But it hasn’t always been that way and we seem to have lost the old concept of bargaining and now call it negotiation. It is still the same thing.
Wikipedia defines <a href="https://en.wikipedia.org/wiki/Bargaining">bargaining</a> as: “Bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service dispute the price which will be paid and the exact nature of the transaction that will take place, and eventually come to an agreement.”
In real estate today that pretty much sums it up though I am not very comfortable with the term “dispute”.
Either way, the fact is that real estate purchases have always been negotiable. The seller asks a fixed price or puts their property up for auction to the highest bidder. So we’re back to a sort of bargaining again.
But you see there is an important element involved in this. It is called perception of value, and this is the most important ingredient in the practice of bargaining.
It is about the perceived value of a material object. As in Murphy’s Law, what the buyer believes is usually at opposite ends to what the seller believes. The concept of value is different for everyone involved in a purchase or a sale. It depends which side of the coin you are on.
There is an old saying that “Beauty is in the eye of the beholder.” And this holds true for anything you want to buy as a consumer.
Would I have paid $120 million dollars for Edvard Munch’s iconic masterpiece The Scream? No. But that is just me, and if I had that sort of money I would now be sitting happily under a coconut tree with Clive Palmer sipping cocktails in Bora Bora.
In the real estate merry-go-round sellers offer their property for sale, not just based on its current market value but on the value they place on it themselves. Similarly, buyers will value it based on their own perception. So we are back to bargaining again.
I love a bargain and don’t we all. The problem is that sellers want to make a profit. It is all about money, and money makes the world go round.
Tim Mansfield is a 30-year global veteran in the real estate industry and founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank" rel="nofollow">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#%21/tim_mansfield" rel="nofollow">here</a>.
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The art of bargaining in real estate

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The property market in New South Wales is overcrowded with real estate agents struggling to get a piece of the pie, and they are squeezing each other out of business.
Figures from the Department of Fair Trading (Real Estate Section) in Sydney for the end of May 2012 show there are 17,364 current licensed real estate agents in NSW.
When the property market is practically stagnant as it is at the moment and real estate agents are suffering you have to ask the question “How on earth do they survive?”
Perhaps more to the point “How do they survive in the downturns?” and live to see another day?
In 2012 so far the evidence of trials and tribulations for real estate agents is there to see all over Sydney with mounting mergers and acquisitions to share debt or overheads in businesses’ valiant efforts to avoid going under. This is particularly true of Sydney’s eastern suburbs, where agents have always enjoyed astronomical commissions on residential sales in wealthy suburbs like Darling Point, Point Piper and Vaucluse.
Of course you could argue that recent sales of multi-squillion-dollar waterfront homes have fallen back from $50 million plus to $30 million because of the GFC, the strong Aussie dollar, the European economic crisis and the simple fact that everyone is scared to death about what will happen in future.
So where does all this leave NSW real estate agents? Their best efforts to make even a reasonable living are mostly stranded now like whales on a sad beach. Their songs of past success floundered by an apathetic property market where people don’t know whether to buy or to sell.
When whales are stranded on that lonely beach there is a way for them to survive through help from others.
Here is that help if you want it and are prepared to listen:
<ul>
<li>Stand out in the crowd. Don’t sit back and wait for business to come to you. You have to draw attention to your company, your brand or yourself as an individual.</li>
<li>Do anything you can that differentiates you from your competitors. It doesn’t matter what it is; the point is to do it. It may be red balloons outside your agency window, a snake-charmer in the front yard of your open inspections; or just give a red rose to every lady you meet during your business day (this works wonders).</li>
</ul>
I can’t quote names or places, but I am going to tell you how I once did it with the help of others.
Some years ago I met a senior property executive for a coffee to have a talk about the real estate industry, which was in bad straights at the time but moving up from 8am on the property clock heat meter.
We discussed how to differentiate a new brand. By our second cappuccino we had agreed on how to make the new business really stand out in the market, but there were huge risks involved.
This is what we did:
<ul>
<li>We agreed to concentrate on a single niche market (do what you know best and don’t offer a wide range of options). </li>
<li>We decided to specialise in the sale of prime waterfront homes in Sydney’s eastern suburbs (you can’t be any expert on everything).</li>
</ul>
How did we do it?
<ul>
<li>A lot of courage, and financially a big risk.</li>
<li>The first thing we did was to re-name a 10-metre cabin cruiser that already belonged to the company, and we called it “Waterfront”.  It was berthed nearby our new office and hosted up to 12 guests. </li>
</ul>
Then we invited prospective waterfront property buyers to see their dream properties from the water on Sydney’s glittering harbour and disembark for guided inspections of the homes we were selling. I should not say this, but “Boomerang” comes to mind.
<ul>
<li>We convinced the local municipal council at the time to put all their property records for the area into a digitised format that we could use for direct marketing campaigns to waterfront owners. It was the first time ever in Australia that this was done, from old ledgers to the new digital era. Then we transferred this data onto a PC and used the information.</li>
<li>We engaged a well-known aerial photographer who was a specialist in waterfront homes in Sydney’s eastern suburbs, and together we published a high quality book showing these properties from the air. This had never been done before.</li>
<li>We distributed the hard-cover book personally by hand to every single waterfront home that was included in it for free. Of course we had branded it with our business name, but it was not directly about us. In fact we didn’t even include a contact telephone number in it, just our logo.</li>
</ul>
Publishing the book alone cost about $30,000 in those days. We recovered the investment in six months and established our brand forever in premium residential property. This brand is now one of the best-known in the world today.
The glossy book that we gave away (which was my baby and for which I nearly lost my job then because of the cost) has been much loved by thousands of people over the years.
We didn’t need to knock on the doors of some of the greatest homes in Australia to list them for sale. We were already inside sitting proudly on their coffee table, and we are still there today. 
Summary:
<ul>
<li>Concentrate on just one speciality.</li>
<li>Think outside the box.</li>
<li>Don’t do what everyone else does. </li>
</ul>
“The one who follows the crowd will usually never get any further than the crowd.”
~ Albert Einstein
Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
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How real estate agents can survive downturns and stagnant property markets

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The Greeks have narrowly voted in a pro-bailout party that wants to stay with Europe by accepting the harshest possible economic conditions for years to come, rather than getting out and starting again on their own.
The European debt crisis over the past few months reminds me of the story of the Dutch boy who put his finger in a hole to stop a leak in a dyke. He was lucky because eventually some passers-by helped him and fixed the leak. If they hadn’t found him the dyke would have burst.
And the situation reminds me too of events leading up to the Wall Street crash that lead to the Great Depression. Financiers managed to reverse the downward plunge by buying as many shares of stock as they could, but the house of cards came crashing down as people panicked in October 1929.
In this case the European solution has been cash bailouts and buying government bonds. But buying bonds is just the same things as increasing debt. Someone eventually has to pay it back.
Where has it all gone wrong, we ask ourselves. In Ireland, Portugal, Spain and now Greece the same thing has happened. Countries are like dominoes collapsing one by one.
Do we blame the banks for their profit-taking over the years, or their customers who took advantage of easy loans to live lives they couldn’t afford?
Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
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Greece has voted to stay in Europe, but domino effect still threatens Europe: Tim Mansfield

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I first worked in the property business selling villa plots on the island of Menorca in the Spanish Balearic Islands. I was 18 years old then and full of teenage enthusiasm. It didn’t work out.  The company went bust, and I lost my job. I was devastated. I had worked so hard.
Not long after I met the owner of a big real estate agency in England and he said, “Come and join us.” He gave me a one-way airline ticket from Menorca to London to start my new employment. They collapsed within a year, and I lost my job again.
When I was 20 years old I got another job with a company in London named Marcus Leaver, which wanted to start a business in Spain. It was very cold winter that year in England and I spoke Spanish, so I grabbed it.
The year was 1974 and General Franco was still the dictator in those days. The Australian Embassy in Madrid at the time needed a new office and engaged me to find one. I never did, but became great friends with the ambassador at the time.
Marcus Leaver went bust in Spain; so I joined the British Army for a while, did my bit and left for the lucky country in 1982.
In the late 1980s I was sales manager at Andrew Gibbons Real Estate in Sydney’s Double Bay. Our crowning glory in those days was the sale of the famous Point Piper waterfront home Paradis Sur Mer (also known as Toison d’Or) for $19.2 million. I later worked for Colliers International and set up their Prestige Homes &amp; Holdings Division. Here is a quote from an article written then: "Tim Mansfield, of Colliers, is confident that come September, when the spring flowers bloom, people will put their property on the market again. Trouble is they have to buy somewhere else."
Years later I worked in Dubai as sales director of a well-known property development company. What happened? It went bust after the bubble burst there in late 2008. 
I have failed many times in my life, but I am not a failure. We all fail at one time or another along our path in life. We all make mistakes, and that is part of being human.
My own failures are where I went wrong in life,  like stepping stones along the way. You can fail on your own, or you can fail with the help of others when you go through life.
If you are blessed by having a family – a partner and children you love and they love you – hold onto them forever.
You can go bankrupt; you can nearly starve to death and live on cold and windy streets under lamplights. Even then you can retain your dignity.
Life is not all about money. It is about your kindness to others without judgement. It is about words of encouragement to keep them going. It is about holding another person’s hand in yours, and a hug or a kiss that makes you feel that special bond that holds us all together.
At the end of the day who can judge better if I failed or not? Those that helped or those that put me down along the way?
It is only me who can be the final judge. I am the one who knows the real things that I did to help others in life and never said.
There are three things you can do. Nothing else really matters:
<ol>
<li>Help others</li>
<li>Never give up on your dreams</li>
<li>Don’t let people put you down</li>
</ol>
 Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
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Booms and busts are a natural part of real estate – and life: Tim Mansfield

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The age-old real estate adage of “You make your money when you buy, not when you sell” is as true today as it ever was.
As human beings we often ignore this tip and fall into the trap of buying without doing our homework first. The problem with this is that you may do exactly what the seller is hoping you will do – pay a price above the market value of the property.
The economy, market forces and other factors make it difficult to calculate the time it will take to recoup the cost of a premium you have paid, but even if you paid 10% over market value it could take two or more years.
Astute home buyers and investors do extensive research before they make a decision to buy. They will have established a market value in their heads, carefully balanced out the pros and cons, put their emotions to one side and made an informed decision on the maximum amount they are willing to pay.
There is an important element called “potential” involved in property purchases.
It is not just what you see physically when you inspect a property but also what you believe can be done in future to improve it. This forms part of what adds value for you as a buyer and is particularly important when you decide to sell.
There are three key questions that buyers always need to ask:
<ol start="1">
<li>What is the seller’s motivation? The answer to this question helps to understand the urgency of the sale (or not) and impacts on the price the seller is willing to accept at any given time.</li>
<li>How long has the property been on the market? This one helps to understand the reasons the property had not sold. Is it overpriced? Does it have major defects? Or has it just gone stale and the seller is now open to any reasonable offer as other buyers have shied away?</li>
<li>What is the market value of the property? Doing your own research helps establish a value in your own mind based on recent comparable sales and current listings in the same area.</li>
</ol>
Of course the decision to purchase a property needs to be finely balanced between the buyer’s needs and wants. We would all love to own a home with a swimming pool, but do we really need one?
If you are a property buyer and have ticked all the above boxes before you purchase you will have the satisfaction of knowing that you are ahead of the game for years to come.
If you are time-poor or feel you don’t have the experience to buy a home or investment property yourself, engage a buyers’ agent. They have many years of know-how in successful property transactions and will take the stress and strain away from you. Their job is to act independently for you in your best interest and get you the best possible purchase price.
In New South Wales buyers’ agent fees vary from agency to agency but generally they charge an amount ranging between 1% and 3% of the purchase price. Every case is different and depends on a number of factors including the scope of the buyer’s brief (wish list), the resources involved, the geographic location, market conditions, etc.
The fee paid for a successful purchase should be regarded as an investment and it is always money well spent.
A final thought: "As the vendor will engage an agent to negotiate the highest possible price, why shouldn't the buyer engage one to negotiate the lowest?"
Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a target="_blank" href="https://www.primepropertybuyer.com">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
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Research your property purchases thoroughly, as a mistake will cost you for years

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Whether you are buying or selling real estate the importance of property inspections is paramount in a smooth transaction.
Not being prepared can lead to last-minute disruptions in a sale or purchase and cause major headaches to all parties involved.
For a buyer, a pre-purchase building inspection report (whether it is for a house, a strata unit or a company title unit) is used to ensure that the property is in good condition and does not have any major defects that may affect the property’s value or cost money to rectify in the future.
For a seller, providing a pre-sale building report (including a pest report if necessary) is always a good idea. It demonstrates transparency and honesty on the seller’s behalf and means that prospective buyers don’t have to order and pay for one separately, often at the last minute. Some buyers may still wish to request an independent report, but that is their decision.
There have been cases where the seller has provided the report in the contract of sale as an annexure and included a condition that the cost of the report should be reimbursed by the purchaser. This seems a bit miserly to me. What the seller should do is concentrate on achieving a good sale price through a smooth exchange of contracts and write off the relatively low cost of a building report. The benefits of providing the report in advance far outweigh the outlay involved, so it should be included at no charge.
For buyers it is critically important that they request an inspection report (if one is not already available) as soon as possible once they are interested in a particular property. The process can take two to four days, during which a physical inspection or inspection of strata or company title records is finalised.
I have seen many cases where the successful purchasers of a hot property among several interested buyers were the ones who first obtained their inspection report. Once they were satisfied that the property had no major defects they took the plunge and exchanged contracts.  It often comes down to a race between who gets the report first and is willing to go ahead, not who will pay the highest price.
Legislation in NSW provides a five-business-day cooling-off period from the time of exchange of contracts until the exchange becomes unconditional at 5pm on the fifth day. This short period can be used to obtain a building inspection report, but it is cutting it very short.
In the case of auction properties it is particularly important for buyers to have already ordered a building report they are happy with before they bid successfully on the day (or exchange contracts on the same day after it is passed in).
In summary:
<ol start="1">
<li>Sellers should attach a current inspection report to the contract of sale (and provide it free of charge).</li>
<li>Buyers should be aware of the importance and urgency of obtaining or viewing an existing inspection report before purchasing a property by private treaty or at auction. </li>
</ol>
Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
 
 
 
 
 
<ol start="1"></ol>
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The importance of building inspections in property transactions

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 What is the formula for success? It is quite simple. Keep on making mistakes.
You may think that failure is the enemy of success, but it is not true. You can be discouraged by failure or you can learn from your mistakes. So go ahead and make as many as you can. Just try to ensure they don’t hurt anyone along the way.
J.K Rowling, the author of Harry Potter once said “You might never fail on the scale that I did. But it is impossible to live without failing at something, unless you live so cautiously that you might as well not have lived at all - in which case, you fail by default.”
Your success in life as well as in work is actually built on your failures. They are the mechanism by which we learn, and they are the stepping stones that will get you to the place you want to be in the future. If you don't make mistakes (and learn by them) you will find it hard to succeed. To fail is to be human.
Achieving success is not something that happens overnight. You have to work hard at it; you have to have failed many times first, and you have to feel hungry and go through the bad times before it happens.
In Australia TPS (or Tall Poppy Syndrome) is a social phenomenon in which people of genuine merit are criticised because their achievements apparently elevate them above their peers. Sadly, in this lucky country cutting tall poppies it is almost a national sport.
It is too easy to give up on your dreams when you have failed many times. These failures might include a regrettable comment you made in the office, the day you forgot your wedding anniversary, or the black day that your business collapsed.
So what? Life goes on and you control your own destiny. No one else can do it for you.
People will criticise you along the way, and they will do their best to put you down. Some see failure as a weakness, when in fact it is strength. Ignore them and concentrate on your own dreams and not theirs.
“It is not the critic who counts; nor the man who points out how the strong man stumbles, or where the doer of deeds could have done them better.” – Theodore Roosevelt.
And one final quote . . .
“You are the author of your own life. It's up to you to dream it, imagine it, sketch it, shape it, build it, go after it and make it happen. Then colour it in with bright, shining shades of joy and efforts that are yours and yours alone. No one else can know the dreams you dream or the strengths you have within you that will help you make those dreams come true. They are yours alone. And so is today."  –Author unknown
Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
 
 
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The formula to success is to keep making mistakes

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Last week the former Commonwealth Bank CEO Ralph Norris went out on an apparently shaky limb with his brave statement that a budget surplus is "an almost mindless commitment". But he should be applauded for his strong belief. It is that same strength of conviction that will hold a branch firmly to a tree of thought and ensure that millions of Australians can safely join him on it. 
The analogy that comes to mind in relation to the federal government is that of the captain of the ill-fated Titanic who ignored all warnings of the danger of hidden icebergs along the route and even put on speed, until the ship inevitably hit one and disappeared below the icy water. 
There is a fundamental flaw in the government’s plan to achieve a budget surplus. It is simply that while on the journey toward that final destination, it runs the risk of demoralising the entire population through spending cuts. 
The policy of “give with one hand and take away with the other” is a recipe for disaster, and the inevitable nemesis will be a crushing defeat at the next general election. 
When people lose hope in the future they lose their spirit and their drive to move forward. They languish and procrastinate while hoping to hear any good news at all that will signal them to optimism. The Aussie spirit has always been based on hard work, enthusiasm and a determination to succeed. The final objective of all of us is to own our own home, but the current property market has almost stalled. 
In a worthy attempt to “to ease the pain of the market” Tim McKibbin, CEO of the Real Estate Institute of New South Wales (REINSW),<a href="https://www.propertyobserver.com.au/tax/pay-as-you-go-stamp-duty-scheme-needed-for-first-home-buyers-reinsw/2012041654290" target="_blank"> has proposed pay-as-you-go stamp duty for first-home buyers</a>. This idea and a suggestion of cutting red tape and loosening planning controls are both positive, but it remains to be seen if the NSW government will actually introduce them. 
Let’s face it, we cannot point the finger solely at the GFC or Europe and America’s economic woes. The federal government has to accept a large portion of the blame for our own financial malaise, and they need to do something about it in positive terms that the nation can take as a series of immediate initiatives to stimulate the economy. 
The truth is that the current feeling of pessimism has little to do with unemployment or the closure of factories. Interest rates are lower than they have been for decades. So why is there a feeling of doom and gloom? 
It is about the perception that people have of the economy and the future ahead. We are actually saving more money than we have for years, for the simple reason that we are too scared to spend it. Each of us of course has a different perception of the value of money, so one dollar to me may be worth two to someone else, or vice versa. 
In 1947, Abba Lerner wrote an article entitled “Money as a Creature of the State”, in which he commented that economists had largely abandoned the idea that the value of money was closely linked to gold. He argued that responsibility for avoiding inflation and economic depression lay with the state because of its ability to create or tax money. 
No truer word said.
In last week’s news I was delighted to read a comment by the straight-talking John Symond of Aussie Home Loans who coincidentally supported the suggestion I made in a recent column entitled With pessimism lingering in the property market, the RBA must cut rates in May that the RBA cut the cash rate by 50 basis points next month. He also called for “an injection of good news and an injection of confidence”. 
What the central bank does later on in the year will again depend on inflation figures. The point is that it needs to take bold action now to stimulate the economy and restore vital confidence. 
The following quote reminds me of the onerous responsibility held by the Reserve Bank of Australia and the duty of fair play by the banks to avoid profiteering: 
“A prince, who should enact that a certain proportion of his taxes should be paid in a paper money of a certain kind, might thereby give a certain value to this paper money; even though the term of its final discharge and redemption should depend altogether on the will of the prince.” Adam Smith, Scottish pioneer of political economy (1723-1790) in An Inquiry into the Nature and Causes of the Wealth of Nations.
Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
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Federal government is largely responsible for current financial malaise

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It is a sad state of affairs that the current mood of the nation is one of pessimism about the future.
The recent hold on cash interest rates by the Reserve Bank of Australia and a rise in unemployment have no doubt contributed. The European financial crisis has softened somewhat after the Greece bail-out, but there is still a cold wind blowing for the fate of other countries, including Spain, where unemployment is now at 23% and growing.
Down Under, continuing bad news in retail sales, increasing fuel prices and an uncertain property market are not helping either. The hopes are that things will pick up after Easter but even then there is a contagious malaise that seems to have gripped us all.
Under these circumstances it is hard not to feel somewhat pessimistic. And some say we should feel honoured and grateful to live in the “lucky country”. But I pose the question, “are we really that lucky anymore?” or is it just that “everyone is lucky but some are just not as lucky as others”?
<div>
The RBA’s decision to keep current cash rates on hold at 4.25% is the same thing as throwing a wet fish at the vast majority of home loaners in Australia. The word “disappointing” hardly describes the suffering of many families who are already struggling to reach the end of the month. Under these circumstances it is not surprising that the retail industry is in chaos. People are too afraid to spend their hard-earned cash. 
Of course for some sectors of the finance industry this is an opportunity to capture more business (and that is fair enough). 
But I don’t wear the mortgage lenders’ argument that the Reserve Bank of Australia is waiting for the latest domestic data before doing the right thing. On top of that I don’t think for one moment that home loaners are complacent about their mortgages. A much better phrase would be “scared to death.” 
I quote from a speech Angel Gurría, OECD Secretary-General, delivered at the INET Annual Plenary Conference – “PANEL: The Challenge of Deleveraging and Overhangs of Debt – Inflation and Austerity” on 13 April 2012 in Berlin, Germany where he said: 
“Herd behaviour is a case in point. A loss of confidence in the ability of policymakers to deal with current challenges affects the decisions of households to consume, of businesses to invest, and of financial markets to intermediate transactions. 
“A lack of trust in the ability of agents to honour their debts can generate herd behaviour of the same sort: without a clear and consistent strategy for deleveraging rampant indebtedness can seriously undermine confidence. The rollover of public debt becomes impossible if markets perceive a high risk of default. And because financial markets are interconnected, there is contagion across countries.” 
He concluded his speech with the observation “Let’s not forget that the ultimate goal of economic policy is to ensure broad and stable human prosperity.” 
The RBA’s recent statements and lack of direction have left us all worrying about the future. 
It must send out strong signals for optimism and cut rates by 50 basis points in May to stimulate the economy and restore confidence. 
The Chinese use two brush strokes to write the word crisis. 
One brush stroke stands for danger; the other for opportunity.
Tim Mansfield is a 30-year global  veteran in the real estate industry and Founder and CEO of Sydney-based buyers’ agents <a href="https://www.primepropertybuyer.com" target="_blank">PrimePropertyBuyer</a>. You can follow Tim on Twitter by clicking <a href="https://twitter.com/#!/tim_mansfield">here</a>.
 
 
 
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With pessimism lingering in the property market, the RBA must cut rates in May

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One of my favourite proverbs is never judge by appearances, and it is often trailed by the quote “for things are seldom what they seem”.
William Shakespeare spawned the proverb in The Merchant of Venice from his famous soliloquy “All that glitters is not gold.”
Four hundred years later our lives are a constant race against time to acquire possessions, and we often disregard the old Bard’s advice.
Appearances can be deceptive and are sometimes designed to be just that. Or is it that we don’t see the woods for the trees, or forget that beauty is skin deep?
There is a certain element of arrogance in making quick decisions by judging by appearances. It is an error that can cost us dearly; whether it is a decision to impulsively buy a home simply because it offered a new kitchen or a car because it had a leatherette steering wheel.
Perhaps the real truth is that over the generations mankind did learn from the Bard. But did we only learn to present ourselves and our possessions with a false external covering and to hide the truth? And did we learn too that first impressions are what really count?
Making decisions about anything is based on evaluation of evidence. You need to look at all the angles and not just the superficial ones. And the same is true too for snap decisions about people you meet simply because of the clothes they wear. Remember Mahatma Gandhi?
There is an interesting methodology for reaching decisions called “triangulation”.
It is all about using multiple sources of information including the facts, your own perception, and getting advice from others who can add to the weight of argument before you make a final decision.
In real estate transactions whether you are buying or selling you need to keep your wits about you and remember William Shakespeare. Trust your instinct by all means, but don’t rush into a decision that could cost you a lot of money.
And lastly, engage a buyers’ agent or vendor advocate to advise you independently in your best interest. They will give you unbiased advice that will help you make a rational and well founded decision.
Tim Mansfield is founder and principal of Sydney-based buyers' agency <a href="https://www.primepropertybuyer.com/" target="_blank">Prime Property Buyer</a>.
 
 
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Appearances can be deceiving, so don't make a costly error when buying a house

The final apartments in the most recently completed new development in Balwyn present some of the largest and most exclusive ever delivered in one of Melbourne’s most established and character-rich neighbourhoods.

Boutique developer&nbsp;<a href="https://www.apartments.com.au/developers/wulff-projects">Wulff Projects</a>,&nbsp;alongside partner <a href="https://www.apartments.com.au/developers/pga-group">PGA Group</a>, has just finished <a href="https://www.apartments.com.au/buildings/threadneedle-balwyn-1-5-threadneedle-street-balwyn-vic-3103">Threadneedle</a>, 17 home-sized residences designed completely for the owner-occupier.

Named after its location on Threadneedle Street, the new project has been shaped by the heritage fabric of Balwyn. It offers two low-rise buildings of eight and nine apartments respectively, designed to emulate traditional standalone homes.&nbsp;

[smartcode_project:default project_id=27816 project_image_fid=355582]

John Scaramuzzino, Director at <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, explains the design intention.

“Given the quiet residential character of the street with many homes dating back to the 1930s and 1940s, we approached Threadneedle wanting to appear less as a collection of apartments and more as a traditional residence. This led to creating not one but two buildings that could “breathe” with larger garden-based apartments functioning more like small homes.”

[smartcode_project:default project_id=27816 project_image_fid=355605]

The north-facing residences are nestled among extensive landscaped gardens by Ben Scott Garden Design, with over one-third of the site dedicated to greenery. The resulting setting is one of calm seclusion, where architecture and landscape work in tandem to offer immediate liveability.

With construction now complete, the final apartments include a top-floor, single-level penthouse residence priced from $2.8 million. This home offers three bedrooms, a dedicated study, two bathrooms plus powder room, and three car spaces with an oversized storage room.&nbsp;

Interiors prioritise spatial comfort and natural light, with three-metre-high ceilings, oversized internal doors and a full-width terrace oriented to the north, east and west.&nbsp;

[smartcode_project:default project_id=27816 project_image_fid=355604]

Floor-to-ceiling double-glazed windows ensure thermal performance across seasons, supported by automated external blinds, zoned heating and cooling, and a fireplace for added ambiance.

Each apartment has been individually designed to maximise privacy and garden outlooks. Kitchens combine refined finishes with practical considerations: stone benchtops, butler’s pantry, full-height joinery and concealed rangehoods.&nbsp;

The inclusion of dedicated home offices responds to contemporary living patterns, while bathrooms feature sculptural bathtubs and brushed nickel fixtures.&nbsp;

[smartcode_project:default project_id=27816 project_image_fid=355590]

Threadneedle also integrates best-practice sustainability measures, achieving a 7 Star average NatHERS rating. Initiatives include solar PV systems, rainwater harvesting for toilet flushing and irrigation, and high-performing building insulation. These elements enhance daily comfort while reducing ongoing maintenance and energy demand.

"We believe Threadneedle sets a new standard of design excellence and building quality for Balwyn,"&nbsp;Scaramuzzino added.

"It’s an architectural response we’re particularly proud of, and one we’re sure residents will be equally proud to call home."

[smartcode_project_cta:default project_id=27816]

Staff Writer

Final homes remaining as Threadneedle, Balwyn completes construction

Joel Robinson

Sydney's top 15 new apartments developments set to launch in 2026

Developer-builder <a href="https://www.apartments.com.au/developers/dasco-australia">DASCO</a> has pushed beyond the now-standard inclusions of rooftop pools and landscaped podiums at its recently launched new Epping project, Senso.

It has laid out over 4,000 sqm of resident-only amenity in a move designed to compete directly with low-density housing on livability, not just density. The result is a development that supports genuine daily use through purposeful spaces distributed across its five-building, 479-apartment precinct.

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Two rooftop pools form the anchor of Senso. One is a 27-metre lap pool adjoining a heated spa, designed for everyday fitness rather than just summer leisure. The second sits on a lower podium, allowing different buildings to share in vertical access and reducing crowding during peak times.

It is the secondary spaces that start to distinguish Senso from other large-scale suburban projects. A rooftop cinema is integrated into a landscaped terrace, offering open-air screenings with natural ventilation and passive cooling.&nbsp;

The inclusion of a “sensory walk”, an elevated boardwalk that threads through the site, suggests a rare investment in non-commercial, non-essential amenity: space for quiet movement that doesn’t double as access or traffic circulation.

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The gym and wellness centre, often relegated to a small ground-floor room in many builds, takes on more substance here. Residents have access to a fully equipped gym, as well as outdoor yoga areas and meditative zones that integrate greenery and natural light.&nbsp;

The Club Lounge is similarly designed to support multiple use cases, with a private dining terrace, kitchenette, workspace, and lockable wine storage. These aren’t superficial additions; their scale and spatial allocation indicate serious intent for frequent resident use.

[smartcode_project:default project_id=134954 project_image_fid=4391]

Importantly, Senso’s amenities are embedded within a site that spans more than 10,000 sqm, allowing for better separation between spaces and reduced noise spillover, a critical but often overlooked factor in high-density developments. This spatial generosity also enables multiple alfresco kitchens and communal terraces without compromising individual privacy or usable space.

While many developments make claims about lifestyle, few back it with this level of built infrastructure. Senso’s mix of dedicated fitness, wellness, social and passive green spaces suggests a conscious response to the post-pandemic shift in housing expectations, especially among owner-occupiers.&nbsp;

DASCO is one of several leading developers who have taken out Resilience Insurance's Latent Defects Insurance policy, providing buyers with a 10-year structural and waterproofing warranty, and giving them the ultimate peace of mind.

Senso is scheduled for completion in late 2028.

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The outdoor amenities elevating life at Senso, Epping

Following the proposal by the Minns Labor Government to rezone Parramatta Road to create up to 8,000 new homes, prominent developer Ceerose has gone to the NSW Gov to increase the density of its new mixed-use residential building in Leichhardt.

<a href="https://www.apartments.com.au/builders/ceerose">Ceerose</a>, founded by Edward Doueihi nearly three decades ago, has filed plans for 154 apartments above ground-floor retail at 307-315 Parramatta Road, a key corner site near Norton Street, the main high street strip in Leichhardt.

It's an upsize from the previously approved scheme of 63 apartments across a seven-storey building.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="ba1ae75b-5f08-43fb-b8d5-3de6d9f6ef71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.39%E2%80%AFAM.png?VersionId=yA3hBBLPH4ev7MsAE0_hieXeqiFqBUb7" />

The project is being advanced through the State Significant Development (SSD) pathway, with concurrent rezoning sought to facilitate the proposal. The 10-storey development would rise over a four-level basement and deliver two retail tenancies, one a larger-format offering and the other a smaller “hole in the wall” space, addressing the Parramatta Road frontage. 21 of the apartments are dedicated as affordable housing.

According to the Urban Design Report by Architecture AND, the scheme includes a podium and tower configuration, with a fine-grain, two-storey parapet street wall that references the traditional shopfront rhythm along the corridor. “An elegant tower form is proposed, combined with a characterful two storey frontage... articulating it as two related buildings, providing consistency with the rhythm and grain of Parramatta Road,” the report notes.

The residential component is split across two slender towers set back from the street edge, a design move aimed at preserving solar access and reducing perceived bulk. This massing strategy also seeks to improve residential amenity by focusing scale toward the quieter northern interface, away from Parramatta Road’s noise and pollution.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="347f2f8f-5d36-4388-b40a-2e77380b9c19" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.02%E2%80%AFAM.png?VersionId=xvyUE2ujT1lzivXTo.mHBJFF4SmfgLtz" />

Architecture AND has worked with Ceerose on previous Inner West projects, and cites a deep familiarity with the local character. Their design draws heavily on context, heritage, and sunlight access considerations, and engages with the Inner West Council’s “Our Fairer Future” strategic planning framework.

The site spans 2,712 sqm and is located near key intersections with Catherine Street, Hay Street, and Redmond Street. It adjoins a public carpark to the north and is within walking distance of Stanmore and Petersham stations. It is also flagged in state and local planning strategies, including the Parramatta Road Corridor Urban Transformation Strategy, as a suitable candidate for increased density.

Ceerose recently completed The Alex Collective on McEvoy Street in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay.

The Parramatta Road corridor is coming to life with the proposed rezoning which is serviced by a significant number of bus, light rail and train routes.

Deicorp is progressing with its $1.8 billion <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> precinct on Parramatta Road in Five Dock, as is <a href="https://www.apartments.com.au/news/nsw/toga-to-push-on-with-five-dock-mixed-use-masterplan">TOGA further down the street</a>. Those two projects alone will bring nearly 2,000 new homes to Parramatta Road.

First look: Ceerose plots mixed-use Leichhardt development on Parramatta Road

North Sydney's landmark 'SBS Building' on Alfred Street is set to be demolished to make way for a new mixed-use residential tower in the booming North Sydney.

Commercial property group FiveX is behind the plans for a <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">39-storey tower</a>, the latest project to advance under the NSW Government’s Housing Delivery Authority pathway.

They are proposing 184 apartments above retail spaces, which will replace the existing 20-storey commercial building. FiveX was set up more than five decades ago by Joshua and Marko Berger. It is currently led by Joshua's son Lesli.&nbsp;

<img alt="First look: Fivex plans 39-storey residential tower at 275 Alfred Street, North Sydney" data-entity-type="file" data-entity-uuid="2efa0980-53fa-4cca-9f9e-9c3c845d4746" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29%20%281%29_0.png?VersionId=y_YyPMq3NQLfYRs84pP4os9UgWiMLp75" />

According to the Architectural Design Report by <a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>, the slender tower form has been deliberately designed to respect the site's transitional setting at the southern gateway to the North Sydney CBD, where high-rise towers give way to lower-scale residential precincts.

"The slender tower form and articulated podium establish a respectful relationship with nearby heritage and low rise buildings, including the Whaling Road Heritage Conservation Area,” the architecture firm noted, adding that the tower “completes a missing link in the urban fabric” while enhancing the Alfred Street streetscape.

The proposed building will include a mix of one-, two- and three-bedroom apartments, with 15 percent of the gross residential floor area allocated as affordable housing. There is an agreement already in place that those apartments will be managed by Evolve Housing.

The project aligns with broader state housing objectives, including the National Housing Accord target of delivering 1.2 million new homes by 2029. The Scoping Report filed with the State Significant Development Application (SSDA) suggests the site "presents no impediments to rapid delivery,” with construction able to commence within 12 months of receiving consent.

North Sydney has been one of the most popular suburbs in Sydney for new and off the plan apartment development, but hasn't had the supply to keep up with demand, until recently.

AURA by Aqualand was, for a long time, the only off the plan apartment building on the market. That completed last year, and has sold the majority of its 386 luxury apartments. Recently ALAND launched <a href="https://www.apartments.com.au/new-apartments/the-walden-173-179-walker-street-north-sydney-nsw-2060">The Walden</a> on the same street, selling over $100 million within just a few hours of its launch, while developer CASA also launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-mclaren-north-sydney-45-mclaren-street-north-sydney-nsw-2060">The McLaren</a>&nbsp;in the same precinct.

Tim Mansfield

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