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If you have been <a href="/guides/renting-vs-buying-a-house-what-s-right-for-you">renting for a while and have now decided it's time to buy a property</a>, understanding the cycles that the property market moves in can be extremely beneficial to picking when is the right time to purchase.

The property cycle is based around rises due to market growth, then plateaus and declines during certain phases. As someone looking to buy a home or become an investor, knowing where the market is and understanding the property cycle when buying will help you to secure the best price.

Based on the Australian property cycle history, the three stages of the cycle, increase, steady, and decrease, tend to confirm that property will always increase over time. <a href="/">Apartments.com.au</a> have put together this guide that you can refer to, to understand where we are in the property cycle and ensure that you are picking the most optimal time to buy.

<h2>The phases of the property cycle</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/thephasesofthepropertycycle.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="355" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/thephasesofthepropertycycle.png?itok=kuNyi9dW" width="580"></a></figure>There are four main phases of the housing cycle that will determine boom times and slumps. You may be <a href="/guides/how-much-should-you-spend-on-your-first-house-in-2020">determining how much to spend on your first house</a>, and knowing these phases can help you get more value for your money. 

The four phases are:

1. The boom phase

The shortest of the cycle, the boom phase usually sees property prices increase quickly despite its slow start. As investors begin to notice a rise in property and rental rates, they begin to buy pushing the price of property up, often selling for more than the asking price. Everybody starts jumping on the bandwagon at this point, flooding the market and moving us all into the next phase.

2. The slump phase

The oversupply of property in the boom phase brings on the slump. The market is loaded with investment properties meaning vacancy rates increase the returns on rentals decrease. The previous rise in property prices come to a halt and sometimes even decline as new home buyers land in hot water, struggling with their repayments. Buyers often over-commit by purchasing properties they can't really afford in the boom phase, and a simple interest rate rise pushes them to the limit, forcing them to sell the property at a lower price.

3. The stabilisation phase

The phases as mentioned above, do not happen quickly or directly after one another, there is usually a period of stablisation in the market where things level out, prices simmer, and people regain their footing.

4. The upturn phase

Vacancy rates begin to fall and rent rise, and property values start to increase, giving a bit more swell to potential investment opportunities. The inner suburbs start to rise first, then those on the coast before the middle ring and outer suburbs follow suit. Property is most affordable in the middle of this phase, and those who have invested in property start to see favourable returns. This brings everything full circle as property values slowly increase as we head back to the boom phase.

<h2>Tips to navigate the property market life cycle</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tipstonavigatetheproperty.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="374" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/tipstonavigatetheproperty.png?itok=M4RH8BED" width="580"></a></figure>Successful property investment is reliant on good timing, amongst other things. Great timing and a long-term property strategy will lead to excellent outcomes from your investments. The following tips should be considered when looking at where we are in the property cycle, deciphering and then profiting from it.

<ul>
<li>
	Always consider the Australian property cycle history
	</li>
</ul>
Based on the Australian market history, a cycle usually lasts for about seven years. There are around three years for the slowdown and approximately four years of rising prices. This does not, however, account for the dynamics of each individual market, which will determine the rise, peak, and severity of the cycle.

<ul>
<li>
	Understanding triggers
	</li>
</ul>
Interest rates are one of the biggest triggers for movement in the cycle. Low-interest rates indicate opportune times to buy, and as they start to rise, the next phase is imminent. Another trigger can be migration and economic data. If the growth and economic indicators are moving up, then you should be ready for a growth phase. Good investing means looking outside of your area and paying attention to emerging hotspots that exhibit high capital growth and sound rental returns.

<ul>
<li>
	Be a crystal ball
	</li>
</ul>
If Australia is experiencing strong economic stability and low unemployment along with low-interest rates (the end of the property slowdown), then the upswing could be near with an interest rate increase on the horizon. Recognising these things is almost like seeing the future, a skill that you need to acquire to invest well. The future growth of the specific market you are looking at can <a href="/developments">be seen with proposed infrastructure projects</a> and areas in a significant growth stage are well-positioned for investment.

<ul>
<li>
	Keep asset selection in mind
	</li>
</ul>
Understanding the cycle works in tandem with the right asset selection. Knowing the right time to buy in the property cycle is pointless if you buy the wrong house or apartment. Good property is a long-term asset; it should increase in value, which requires a robust market in strong demand.

<h2>What influences the property cycle?</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/whatinfluencesthepropertycycle.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="378" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/whatinfluencesthepropertycycle.png?itok=JzCwIG8t" width="580"></a></figure>Along with interest rates, there are other factors that influence the property cycle, and it is in your best interests to <a href="http://optimalprop.com/a-guide-to-finding-australias-best-suburbs-to-invest-in/">track and analyse</a> them to understand where the cycle is likely to move. Some of the other key factors include:

<ul>
<li>
	Population growth
	</li>
</ul>
Supply and demand dictates the property cycle. Population growth rises prices as demand pushing us into a stable phase. Keeping an eye on the developing population growth is a crucial part of your research process.

<ul>
<li>
	Exchange rates
	</li>
</ul>
Foreign investors who are looking to purchase property in Australia will be keeping an eye on when the AUD is lower as property prices become comparatively cheaper, bringing more overseas buyers into the market.

<ul>
<li>
	Unemployment
	</li>
</ul>
As mentioned above, low unemployment designates an excess of jobs, which is more attractive for investors, and high unemployment rates mean less value growth creating a more risky investment.

<ul>
<li>
	Banks
	</li>
</ul>
Lenders who are seriously looking to write new loans affect the property cycle. Lending criteria is often tightened during the drop phase.

<h2>Different phases at different times</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/differentphasesatdifferenttime.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="372" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/differentphasesatdifferenttime.png?itok=oP2t_atI" width="580"></a></figure>It is vital that you understand that the property cycle isn't a blanket rule for the whole country. The whole of Australia will not experience the same phase at the same time. There are many cycles in their own phases of growth and decline happening all at once throughout the Australian property market.

The factors that influence the cycle remain the same, but various cities and suburbs will experience them at different times. This is one of the main reasons why serious investors have a diverse portfolio of properties that exist in different property cycles.

<h2>Using the property cycle to your advantage when buying</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/usingthepropertycycletoyouradvantage.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="445" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/usingthepropertycycletoyouradvantage.png?itok=QlN4-H3J" width="580"></a></figure>Understanding the property cycle, it's influential factors and momentum will hopefully be a little easier for you know after reading all of the information above. This should also help you with knowing when is the right time to buy. Invest when the market has been stable for awhile, or in the growth stage before the peaks.

Try to navigate the dynamics of each micro-cycle and understand the various markets with research, what has happened in previous cycles, and the triggers that indicate movement. A safe bet is knowing that when interest rates are low, it is an excellent time to buy before the cycle moves to the next phase. If rates and prices are beginning to creep up, you may have missed the boat and will do well to wait a little while for a more efficient investment.

All of this also applies to those looking to purchase their first property as well. <a href="/guides">We have a range of blogs</a> that can give you tips on how best to build your property portfolio while ensuring that you stay out of the red and on an upward swing.
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urban.com.au

Understanding the Property Cycle When Buying

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If you own a property, the difference in the amount you own on that property and its market value is known as equity. When people mention equity, you may be asking some questions like how does equity work in property? The main benefit is your ability to access this equity to secure further finance for things like maintenance and renovations or a deposit for your next home <a href="/guides/2019/06/24/own-rental-property-here-are-14-things-to-check-to-avoid-major-problems-in-future">or investment property</a>.

You may also use this equity to fund other wealth-building opportunities like a managed fund or shares.

Regardless of what you intend to use it for, your equity can be a valuable asset, and <a href="/">Apartments.com.au</a> have put together this guide to discuss precisely what is equity in property investment and the advantages and disadvantages of equity in property investment.

<h2>What is equity in property investment?</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/whatisequityinpropertyinvestment.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="385" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/whatisequityinpropertyinvestment.png?itok=acROPYBy" width="580"></a></figure>To understand how much equity you have in your property, your financial institution will require you to get a professional <a href="https://www.commbank.com.au/guidance/property/understanding-property-valuations-201701">property valuation</a>. You can estimate how much your property may be worth, but in regards to securing finance, you'll need to arrange an expert to give a definitive figure.

There are a number of factors that will determine if you can borrow additional funds to access your equity, including:

<ul>
<li>
	Income
	</li>
	<li>
	Living expenses
	</li>
	<li>
	The remaining amount owing
	</li>
	<li>
	Lenders' Mortgage Insurance (LMI)
	</li>
	<li>
	The property valuation
	</li>
</ul>
There may be other circumstances concerning your loan that may apply, and in some cases, you may only be able to access a certain percentage of your equity. It is vitally important to discuss all of this with a lender before making the decision to go ahead with accessing your equity to confirm that you are not overcommitting and risking financial hardship.

<h2>Building equity in your home</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/buildingequityinyourhome.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="381" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/buildingequityinyourhome.png?itok=zb3Fgj5w" width="580"></a></figure>Based on the information above, it is clear that more equity is a good thing. It is a substantial factor that can significantly <a href="/guides/how-much-can-i-borrow-for-a-new-home">increase how much you can borrow for new property</a>. You can build equity in your home to improve your financial position via a number of methods, including:

<ul>
<li>
	Renovating your home to increase its value
	</li>
	<li>
	Making more repayments to reduce your loan balance
	</li>
	<li>
	Some financial institutions will offer a line of credit allowing you to access a pre-approved amount of your
	</li>
	<li>
	Using a mortgage offset account in which your savings offset your loan balance, reducing the interest charged on your loan
	</li>
	<li>
	Tax deductions via increased interest charged (when using the equity for an investment property)
	</li>
</ul>
It is important, however, to remember that using any equity you may have in your property may increase the amount you owe, resulting in higher repayments. Some loans also have restrictions which prevent you from accessing equity and making additional repayments.

<h2>Advantages and disadvantages of equity in property investment</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/advantagesanddisadvantagesofequity.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="360" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/advantagesanddisadvantagesofequity.png?itok=e4do_xB_" width="580"></a></figure>While the accessing of equity is something that many investors and homeowners do due to its advantages, there are also some risks involved that you will want to be aware of.

If you are looking to expand your property portfolio <a href="/guides/does-landscaping-increase-property-value">or even just renovate a current property</a>, equity could help you to do it. This is where the ability to boost the equity in your property, as mentioned above, will offer you more options financially. 

The advantages of using equity

<ul>
<li>
	Lower interest rates
	</li>
</ul>
Accessing equity without having to sell the property means that the extra money you borrow sits at the low-interest rate of your mortgage, which is likely a lot less than getting a personal loan or credit.

<ul>
<li>
	Extra funds
	</li>
</ul>
Equity boosts up your savings to help fund another property, shares and managed funds, or a renovation.

<ul>
<li>
	Can raise the value of your home
	</li>
</ul>
If you are putting these new funds back into your home via a renovation, you can boost your property's value. Just ensure that the amount you are investing in improvements actually increases the property's value by the same amount, if not more. 

The disadvantages of using equity

<ul>
<li>
	Larger repayments
	</li>
</ul>
Using your equity will increase how much you owe and the interest charged. Ensure that you will still be able to afford your new repayments after accessing the equity as you don't want to put yourself into financial hardship. Your lender will be able to inform you of your new repayment amount. If you are using these funds for something like an investment property, they may generate income which will help offset the higher repayments. In this situation, you will need to account for potential interest rate rises as you may be able to afford an increase in repayments now, but many people find themselves in financial stress if they are overburdened by a rate rise.

<ul>
<li>
	More risk
	</li>
</ul>
Borrowing more to invest magnifies your risk. You are essentially investing money that you don't have meaning it’s crucial for the investment to make a return. A loss is further compounded by the interest you are paying on the funds. Before making any moves like this, it is best to speak to a qualified accountant or financial planner to fully understand your risk profile.

<ul>
<li>
	Excessive interest 
	</li>
</ul>
The interest rate may be relatively low, however over a 25 or 30-year loan term you are paying thousands of dollars in interest. Accessing your equity will absolutely cost you far more in the long run if you leave the loan for its full term.

<h2>Things to be aware of</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/thingstobeawareof.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="382" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/thingstobeawareof.png?itok=f1pm5AKP" width="580"></a></figure>If you are considering a home equity loan or line of credit, you'll need to keep a few extra things in mind, on top of all of the above information, before making your final decision.

1. There must be enough equity in your home 

You still need to have enough equity in your property to satisfy the bank. If your property is worth $400,000 and you borrow $400,000, selling the house for enough to pay the loan, <a href="/guides/how-much-does-it-cost-to-sell-a-house-or-apartment">inclusive of the extra costs involved in this process</a>, may be difficult. The financial institution will look at your combined loan-to-value ratio, which is the amount of your original loan added to the new loan, divided by the total value of your home. If it doesn't sit around 80% or less, your proposal may be knocked back.

2. Interest is tax-deductible 

A benefit in most cases is the tax-deductibility of loan interest, which may save you thousands of dollars.

3. You may be charged a higher rate of interest on a home equity loan

In some cases, you may be charged a higher rate of interest than that of your standard loan; however, this will still likely be a lower interest rate than a personal loan or credit card.

4. It may be considered as a second mortgage

In the unfortunate event that your home is foreclosed and sold for less than owed on the two mortgages, the first mortgage would be paid in full, possibly leaving you with an amount due on the second. Tapping into your equity sometimes comes with a higher interest rate, and as mentioned earlier, higher risk.

<h2>The decision to use your equity</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/thedecisiontouseyourequity.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="382" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/thedecisiontouseyourequity.png?itok=3x_tZMk6" width="580"></a></figure>The use of equity as part of a financial strategy to increase investments is not a new idea, and many investors do this regularly without any issues. However, it is essential to accurately assess your financial situation before making the decision to do this, as your risk levels will increase. There <a href="/guides/top-10-hidden-costs-of-buying-a-house-or-apartment-in-2021">are many hidden costs associated with buying property</a>, so you will need to ensure that all figures are accounted for when running your numbers.

Borrowing against your home may seem like a great way to knock off that credit card debt and lower your interest rate but taking too much equity out of your home and owing more than the property is worth, especially in the unfortunate event that your home loses value, can be a big problem. To avoid this, be sure that you can make the payments for the life of the loan and ensure that whatever it is you are borrowing for is worth it.
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How Does Equity Work in Property

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Believe it or not, you can actually invest in property with little to no money if you're sensible and have done thorough research. 

We should mention that these scenarios are very case-specific and will not apply to everyone, but if you happen to mirror some of the situations that we are about to explain, you will be well on your way to property investment <a href="/guides/looking-for-a-home-on-a-budget-here-are-10-melbourne-apartments-under-385-000">on a budget</a>. We’ll also look at what is required for those on a low-income to secure a property loan.

<a href="/">Apartments.com.au</a> has updated this guide for 2020.

<h2>Existing equity</h2>

[smartcode_project:default project_id=26574]

If you are in a situation where you already own a home or investment property, you can use the existing equity to borrow against, using those funds to finance a new deposit. This is perfect for homeowners who are thinking of branching out to <a href="/guides/how-to-invest-in-property-in-2020-the-ultimate-guide">build their portfolio and include a rental</a>.

Accessing equity works in place of you needing to have the actual savings, and as a bonus, the equity will grow faster with more properties, which mean more capital growth. This turns into somewhat of a snowball as the more equity you can access, the easier it is to build your property portfolio.

It is, however, important to note that this common strategy also creates a higher level of risk. While property investors grow their portfolios using equity, so they don't have to cough up any savings, they are at a higher risk of default. Many people also feel that this strategy keeps house prices high as people borrow on top of wealth made during a boom.

<h2>Use a guarantor</h2>

[smartcode_project:default project_id=29921]

The first point is all well and good if you already have a foot in the property door, but what if you don't? 

Another method for how to invest in property with low income is a guarantor loan which helps <a href="/guides/how-much-can-i-borrow-for-a-new-home">increase how much you can borrow</a>. Some financial institutions will offer guarantor loans in cases where a friend or a family member will guarantee a percentage of the mortgage on your behalf. They don't even need to guarantee the full loan, which is less risk for them.

Most banks and other lenders will allow the guarantor to cover a certain percentage of the loan. In an ideal situation, the 80% LVR (Loan to Valuation Ratio) sits with you, and the remaining 20% is secured in cash or through the guarantor loan. This means that in some instances approved by the bank, you can use a guarantor to cover the bits you don't have.

You can also remove the guarantor once you have enough of your own funds or equity to cover the debt, meaning your friend or family member only has to be involved for a shorter period.

<h2>Seller finance</h2>

[smartcode_project:default project_id=29389]

Before getting too excited about this option, be wary that it is legal in Australia but uncommon. <a href="https://www.yourmortgage.com.au/mortgage-news/understanding-seller-financing-in-home-loans/222126/">Seller finance is an agreement</a> between the seller of the property and you, where you take a loan with the owner rather than a bank.

Why do this? It saves you needing a deposit. Basically, you agree to pay full price for the property with interest on an ongoing basis and negate the need to have the funds upfront for a deposit.

This is obviously something that benefits the buyer and the seller as they are receiving full price for their property plus interest and you are negating the need for savings upfront. Keep in mind that sellers may charge steep interest rates and there is no cap or authority governing the loan. Seller is high risk but it offers a chance to get in on a property with a deposit, or when the bank will not approve a loan. If you are able to find yourself where this is on the table, it could work to your favour. 

<h2>Property options</h2>

[smartcode_project:default project_id=7742]

Even rarer than the last point if the process of property options. The idea here is approaching the owner of a property with an amount that you are willing to pay for the option to purchase the property.

Why? The agreement allows you to purchase the property at a lower price if it goes up in value, making a loan for the purchase amount more attainable due to a higher property valuation. As this is more complicated than a standard purchase, you will need to work with a lender who understands these agreements and is willing to base the loan on the valuation, not the purchase price. 

<h2>Partnership agreements</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/partnershipagreements_0.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="375" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/partnershipagreements_0.png?itok=g7A9_FpG" width="580"></a></figure>Much like getting a financier for a business idea, you could organise a partnership who has the deposit and is willing to foot the bill in exchange for you doing the legwork. This may only provide you will a smaller ownership percentage of the property, but it's a start and a good way to become an owner without the need for the cash.

This works well for those who are money-rich and time-poor that want to invest in property and essentially pay someone else with a share of the property to run the process for them. Property purchase, <a href="/developments">along with research into new developments</a> to find the right investment, takes a significant amount of time. You may even negotiate them paying the deposit in return for your work organising the purchase, help finance the property with your wage giving you a 50% stake.

You will need to consider the <a href="https://www.lawdepot.com/au/partnership-agreement/#.XjpKjxMzY_U">legal requirements</a> involved in this, preferably seeking the help of a professional legal advisor, so it is very clear how profits and losses will be split.

<h2>Qualifying for a mortgage on low-income</h2>

[smartcode_project:default project_id=25891]

There isn't a specific amount you need to earn to qualify for a mortgage as the lending criteria and serviceability models vary with every institution. There <a href="https://www.commbank.com.au/digital/home-buying/calculator/how-much-can-i-borrow">are a range of calculators online</a> that will help give you a guide to how much you may be able to afford to borrow.

Your income is one of the most crucial factors in this process as it determines your capacity to make the necessary payments, with loans, expenses, and debts taking into account along with your saving patterns.

Your income sources will include not only your primary wage, but also rental income from an investment property, government benefits, or dividends from other sources. With all of this, the financial institution will estimate an amount for your income in conjunction with your loan repayments and other expenses to determine the amount of money they are willing to lend.

Taking all of this into account, the following criteria is vital for low-income earners who are looking to buy property:

1. Evidence of "genuine savings" 

2. A deposit of 10-20%

3. A proposed investment purchase of a viable investment (preferably in a location with predicted capital growth, demand, and high rental yield)

This last point is vital as your potential property needs to be marketable in case it needs to be repossessed and sold. <a href="/guides/how-to-invest-in-property-in-2020-the-ultimate-guide">If you are looking at purchasing for an investment</a>, provide the lender with an investment strategy after you have spoken with an accountant and a financial planner to ensure you are making a sound investment. A benefit for you here is that estimated rental income is taken into account when calculating your borrowing capacity. Properties with a high yield help your ability to service the loan.

<h2>Figuring out how to invest in property with little money</h2>

[smartcode_project:default project_id=29913]

If you are looking at taking your first dive into the property market, <a href="/guides/how-much-should-you-spend-on-your-first-house-in-2020">it can be challenging to know how much you should spend on your first property</a>. This can be even harder if you have low income or limited savings, and hopefully, some of the information above will help you make some headway into what could be a fruitful investment plan for your future. Keep in mind the level of risk in each strategy and ensure that it is worth it.

The main thing to keep in mind is not to overcommit financially purely for the sake of owning property. In some cases it may be better to wait until you have a little more collateral to ensure that you don't end up in a dangerous situation which can put you in a financial hole, creating a situation that is the opposite of what you were hoping to achieve. Be smart, consult some professionals in regards to your finances, and make sure that the steps you take into the world of property will benefit your situation.
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How to Invest in Property with No Money

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Understanding the value of a house, be it one you own or one you are looking at purchasing, is vitally important. You will want to know how to value a house for insurance, <a href="/guides/how-to-negotiate-when-buying-a-house">understand where you sit in the negotiation process</a>, how much equity you have, or how well your investment is doing. Knowing how to value a house helps you to gain this information.

Urban.com.au have compiled these seven tips on how to determine the market value of property. Once you understand how to calculate property value, you will be best positioned to determine how to value a house for sale.

<h2>Tip 1: Have an appraisal done by a professional</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tip1haveanappraisaldone.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="382" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/tip1haveanappraisaldone.png?itok=l9oGEXq9" width="580"></a></figure>We'll get the obvious one out of the way first. The surefire way to calculate property value is by hiring a professional to evaluate your home. We'll go into some more cost-efficient ways to determine the market value of property in the following points, but as with everything, you'll get the best answer if you are willing to pay for it.

You will notice that an appraisal is a required step in the mortgage application process <a href="/guides/how-much-can-i-borrow-for-a-new-home">to help determine how much you can borrow</a>, but you can hire an appraiser at any point to get you this information.

A professional appraiser can even give you a value for a date in the past if required as you may need that information for tax purposes or you can determine the current market value which is a more common request.

Appraisers will give you a property value estimate based on:

<ul>
<li>
	The market in the location of the property
	</li>
	<li>
	The current state of the house and land including any improvements 
	</li>
	<li>
	A comparison in sales, cost, depreciation and other relevant elements in the market for similar properties
	</li>
</ul>
<h2>Tip 2: Try online valuation tools</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tip2tryonlinevaluationtools.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="381" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/tip2tryonlinevaluationtools.png?itok=llymjc5c" width="580"></a></figure>A simple search online for a 'how much is my house worth calculator' is a much more cost-efficient way for how to value a house for sale, however a little less exact than point one. Still, it's a great place to start and <a href="/guides/20-things-you-should-look-out-for-before-you-buy-property">a handy thing to do if you are considering buying a particular property</a> as well.

Many financial institutions offer <a href="https://www.hometrack.com.au/products/risk-management-solutions/automated-valuation-model/">automated valuation models</a> which take into account property transfers, tax assessments, and deeds of ownership, plus the current state of the market, recent sales and listing prices, to predict the value of a property in a particular location. 

Keep in mind that businesses or financial institutions have created these tools marketing and lead generation purposes and are using limited data to provide answers which is why the accuracy isn't as good as a professional report, but you get what you pay for.

<h2>Tip 3: Research similar properties</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tip3researchsimilarproperties.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="304" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/tip3researchsimilarproperties.png?itok=hNJDrFM9" width="580"></a></figure>A great way to get a very realistic figure is to perform your own research on similar properties in the area and see what they have sold for, or what their asking price is, recently. The sale value of comparable properties is something the online tools use as well, and it is a simple way to get some good quality data.

One thing to be aware of when determining market value via this method is that the property next door may not be comparable based purely on location. You need to take into account size, condition, and any upgrades as well. For this reason, you may want to look for similar style homes or apartments in a wider radius rather than just sticking to your street or block.

The best steps to handle this yourself are:

1. Find recent sale prices of comparable houses nearby

2. Make a note of listing prices, but keep in mind these are not as realistic as sale prices

3. Three comparisons are the minimum number you'll need for an accurate picture

4. Adjust for any significant differences between the properties; you may need to account for more bedrooms or an older interior

5. Look at the highest and lowest figures and place your property somewhere in the middle

It is important to note that all of this will only give you a ballpark figure, but it is a great place to start to get an idea on what your property is worth or to ensure that you are <a href="/guides/buying-right-investment-wise">buying right when it comes to investments</a>.

<h2>Tip 4: Use a comparative market analysis</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tip4useacomparativemarketanalysis.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="415" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/tip4useacomparativemarketanalysis.png?itok=0qj8wGXx" width="580"></a></figure>To save you some time on the last point, you can speak to local real estate agents about a comparative market analysis (CMA). Once again, these will not be as detailed as a professional appraisal, but it will give you a small headstart on getting a lot of the required information yourself.

This information is handy for your selling preparation or <a href="/guides/5-tips-every-first-home-buyer-needs-to-know">figuring out your ballpark buying figure</a>. The analysis is usually based on the agent’s evaluation of the market for listing purposes. You may be able to get one of these given to you for free, but once again it is important to note it will likely be a marketing tool, and the agents are looking to impress you with how much they will be able to sell your home for, so the accuracy of these figures should not be taken as gospel.

<h2>Tip 5: Avoid these mistakes</h2>

There are some common mistakes that can be made by people who are trying to calculate property value without professional help, which should be avoided at all costs.

Keep the following points in mind during your process:

<ul>
<li>
	If comparing properties that are currently on the market, remember that they have not had an agreed price so are really only listed as what the seller is wanting, and this may be an unrealistic expectation. Only compare your property to properties that have sold
	</li>
	<li>
	Any advice from an agent may be based on other offers on the property or a particular price that they want the property sold for
	</li>
	<li>
	Emotional attachment often makes people believe their home is worth more than it actually is, the same can happen with buyers who fall in love with a property, offering more than it is worth. It's always best to leave emotion entirely to the side
	</li>
	<li>
	Market research should also involve going to open homes and auctions 
	</li>
	<li>
	Brand new properties come with a higher price, so compare with older more established locations as opposed to <a href="/guides">off-the-plan developments</a>
	</li>
	<li>
	Always ignore the media when the claim prices are going to plummet or skyrocket, this is not a trustworthy source of information
	</li>
</ul>
<h2>Tip 6: Take note of this useful data</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tip6takenoteofthisusefuldata.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="390" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/tip6takenoteofthisusefuldata.png?itok=0D7-f6eA" width="580"></a></figure>There are plenty of ways to figure out how to value a house for sale with a range of useful information about the property market. 

The following are the key pieces you'll want to gather to ensure you have everything you need:

<ul>
<li>
	<a href="https://www.realestate.com.au/advice/median-house-price-what-does-it-mean/">Median house prices for your particular area</a>
	</li>
	<li>
	Information about any new developments in the area
	</li>
	<li>
	The auction clearance rate which is the percentage of auctions resulting in a successful sale (including before or just after the auction)
	</li>
	<li>
	Discounting percentage which is the average discount below the listing price 
	</li>
	<li>
	How many days property spends on the market
	</li>
</ul>
<h2>Tip 7: Do what you can to ensure a good valuation</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/tip7dowhatyoucantoensure.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="326" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/tip7dowhatyoucantoensure.png?itok=UCwUavmM" width="580"></a></figure>While this final tip isn't necessarily about how to value a house, it is an important one for getting the best result out of a valuation.

A low-ball valuation can your chances of refinancing, and there are a few things you can influence to add a few more dollars onto your figure, including:

<ul>
<li>
	Ensure the home looks fantastic, spruce up the garden, repair anything that is broken, give the place a good clean and even a new paint job if you have time
	</li>
	<li>
	Make a note of any unseen improvements like new wiring and underfloor heating while also pointing out improvements in your area like a new playground on your street etc.
	</li>
	<li>
	Let the valuer know about similar sales nearby, they should, of course, know this but it doesn't hurt to remind them, especially if they have been for high amounts
	</li>
	<li>
	Prepare any recent council rates notices or land tax valuations
	</li>
	<li>
	Let the valuer know if you are planning renovations and provide architectural or building plans
	</li>
</ul>
<h2>Understanding the value of your house</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/understandingthevalueofyourhouse_0.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="384" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/understandingthevalueofyourhouse_0.png?itok=iUPuyFGT" width="580"></a></figure>The above points will allow you to obtain the all-important information on how much your home is worth. The reason why you are gathering this information will dictate the level to which you will go to get it.

For example, if you are looking at selling or refinancing, then a professional valuation will likely be required. If however you are just curious or projecting some future plans, then the free DIY ways will suffice.

Either way, understanding the value of one of your most significant assets, is always a good thing, <a href="/guides/2019/06/24/own-rental-property-here-are-14-things-to-check-to-avoid-major-problems-in-future">especially if you wish to use the property as a rental</a>, to know how your investment is tracking.
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Top 7 Tips on How to Value a House

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Rent money is dead money, but so is loan interest? Buying a house vs. renting is an age-old conundrum, and considering the rising costs of living and owning property, one that people are faced with now more than ever.

So buying vs. renting a house, which is best for you? Apartments.com.au know a fair bit about property, <a href="/guides/top-10-hidden-costs-of-buying-a-house-or-apartment-in-2021">the hidden costs associated with buying it</a>, and all of the other things you need to consider. For this reason, we've gathered the pros and cons of buying a house vs. renting here for you to help with your decision.

<h2>The positives of renting</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/thepositivesofrenting.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="325" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/thepositivesofrenting.png?itok=agvJvkx6" width="580"></a></figure>If you have spent time building up your savings renting saves it from going onto a deposit and the other costs associated with home ownership. <a href="/guides/young-home-renters-as-%E2%80%98permanent-renters%E2%80%99">Many people opt to become permanent renters</a> so they can use their hard-earned savings elsewhere or on different types of investments to generate growth. The property market is a little less of a safe bet these days, so if you are a good investor, and you may see a higher return on that money with a different strategy to property.

It also depends on your life goals and stage, perhaps travel or study is a little more important to you at the moment than laying down some roots? Renting gives you more flexibility to relocate, travel for extended periods, and change location without the hassle and cost of buying and selling. 

When all of your savings go towards the one asset, you are tied up in a single investment. Renting allows you to diversify across a range of investments, spreading out any potential risk. In some cases your utilities may also be paid for as part of the rent and if any major issues occur with the property, it will be fixed by the landlord with little to no organisation and expense on your part.

Another advantage to renting is the flexibility about where you live and the kind of home you have. Often something or somewhere unattainable by purchase like inner-city or CBD locations. You are also able to move house whenever you want based on a career change, or simply for an adventure. You may decide that a particular area isn't for you or want to see what a different one is like and you have that option by not being tied down to a purchased property. Many people move frequently while renting to help decide which area they would like to buy in.

This is also quite handy as your family composition changes. That one-bedroom apartment you bought in your twenties may not be suitable as you move into the stage where you may start a family. The ideal house layout changes as your family grows and renting allows you to tweak this home setup as you need it. Changing homes when renting is more cost-effective than buying a new house or renovating.

<h2>The downside of renting</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/thedownsideofrenting.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="381" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/thedownsideofrenting.png?itok=gW_2jKNp" width="580"></a></figure>The cost of renting will likely increase over time due to inflation and rising property prices, especially in desirable areas. When owning, your mortgage repayments will probably go down as the interest charged on the loan reduces.

The mortgage payments will often end after a maximum of 30 years; however, a life of tenancy means that rental payments will forever be a part of your expenses. You will need to consider this as you approach retirement, and your income reduces. You will also need to take into account the bon, which is quite a significant sum of money that is due initially, and when moving there may be times where the ending and starting period of a new lease crosses over, meaning you will need to pay one bond before receiving (hopefully) the previous one back.

The other downside of renting is the effect it can have on your savings, which you aren't technically forced to make like you are with a mortgage. The mortgage payments you make every month goes towards an asset that may increase over time, rent money however, is gone.

You also have less control over any modifications to your home, you'll need approval for significant changes and are at the mercy of the homeowner who may ask you to move out at any point, a reason why more people are attempting to <a href="/guides/negotiate-for-a-long-term-rental-lease">negotiate long-term rental leases</a>.

<h2>The upside of buying a house</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/theupsideofbuyingahouse.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="377" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/theupsideofbuyingahouse.png?itok=6-JISUI3" width="580"></a></figure>Unlike our last point, buying a home means you don't have to deal with a landlord, and you have no risk of being evicted. You have stability and create a home that you may live in for a significant period of time. You have the freedom to renovate or decorate in any way you please.

Property is an asset that will likely increase in value over time, and while it is a long term investment strategy, it is a tried and tested safe bet in most cases. You will be able to use the equity in your home as you pay off your loan to fund another investment, be it more property or shares.

If you are <a href="/guides/2019/06/24/own-rental-property-here-are-14-things-to-check-to-avoid-major-problems-in-future">purchasing property to act as a rental investment</a>, this will provide you with a steady stream of income into your retirement years as well. While interest rates will fluctuate, you still have a level of certainty when it comes to how much you will be spending on your mortgage. This makes it easier to budget for repayments, and you will even have a level of control by choosing a fixed rate, split, or variable rate loan. Rental costs can fluctuate more dramatically based on supply and demand, and rent increases are sometimes non-negotiable when renewing a lease forcing you to pay more or move out.

<a href="/guides/victorian-first-home-buyers-save-over-a-billion-dollars-in-two-years">First home buyers can also receive assistance</a> and stamp duty concessions in certain states to assist in their first purchase.

<h2>The downside of buying a house</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/thedownsideofbuyingahouse.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="372" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/thedownsideofbuyingahouse.png?itok=f_9Kr00c" width="580"></a></figure>There are many hidden costs when purchasing a home that makes it an expensive endeavor. There is a significant amount of interest and fees that you will be paying over the life of a loan, and interest rates will fluctuate if you have a variable interest rate. This can sometimes work in your favour, but you also need to be prepared for when it doesn't.

Homeownership is also a commitment that may limit you in life as your money is tied up in the property. This may hinder things like travel, study, and entertainment as you are committed to your repayments and the added costs of owning property. You may also decide from an investment point of view that the return on property is not as significant as the stock market.

The cost of ownership goes far beyond the deposit and loan repayments, <a href="/guides/top-10-hidden-costs-of-buying-a-house-or-apartment-in-2021">even selling the home can be expensive</a>, just as buying it can be. The Reserve Bank of Australia states the sale of a house will cost 4% of the sale price on agents fees and advertising and buying a home is around 6% of the purchase cost on stamp duty, government and loan establishment fees, and conveyancing costs. 

There is also ongoing running costs, including: 

<ul>
<li>
	Council rates
	</li>
	<li>
	Repairs
	</li>
	<li>
	Depreciation
	</li>
	<li>
	Body corporate fees
	</li>
	<li>
	Utilities 
	</li>
	<li>
	Insurance 
	</li>
	<li>
	Property manager fees (if used as an investment)
	</li>
</ul>
<h2>Which option should you choose?</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/whichoptionshouldyouchoose.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="518" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/whichoptionshouldyouchoose.png?itok=D7iM4sz9" width="580"></a></figure>There are obviously many choices, and the answer to buying a house vs. renting an apartment isn't glaringly apparent as it is somewhat subjective. You need to consider your financial situation, which stage in life you are as well as your wants and goals. Is travel more vital to you than an investment at this point, or are you looking for a way to ensure a comfortable retirement period?

Once you have decided, you will want to do some additional research, or even speak to an accountant or financial planner to ensure you are considering a path that is right for you. There <a href="https://www.yourmortgage.com.au/calculators/rent-vs-buy/">are rent vs. buy calculators available online</a>, which can help you decide if you can afford a home loan and you may need to consider sacrificing the location of your dreams to enter the property market initially. 

No matter what you decide, financial security should be at the forefront of your mind, and you should never commit to a situation that may jeopardise that. Be conservative about your financial choices and remember that you may have to sacrifice an ideal home now, for the perfect home later.
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Renting Vs. Buying a House: What’s Right for You?

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People often do not realise the many benefits of indoor plants at home and how they go past simply bringing a colourful visual into a room. There are several health and wellbeing benefits that filling your home, or even specific rooms, with plants can bring. 

There are many reasons why indoor plants are good apart from the aesthetic appeal and <a href="/">Apartments.com.au</a> has collated the 10 benefits of having plants in the house in case you were on the fence about adding some greenery to your abode. We’re confident you will see that bringing the outside in is something that may call for more of your time and effort.

<h2>1. Health benefits of houseplants</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/1healthbenefitsofhouseplants.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="383" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/1healthbenefitsofhouseplants.png?itok=GkEDoYfH" width="580"></a></figure>As you may know, we rely heavily on oxygen, which we convert into carbon-dioxide. Plants do the opposite by converting carbon-dioxide into oxygen. This handy little agreement that we have with plants means that having indoor plants can improve the oxygen levels and help you breathe better quality air. These facts basically make indoor plants <a href="/expert-insights/buying/essential-household-items-for-your-new-apartment">an essential addition to your home or apartment</a>.

At night, photosynthesis rate is low, so plants need to borrow a little oxygen as well. Orchids and succulents, however, produce oxygen at night, so there are extra benefits of having plants in your bedroom that fall into these categories to help obtain higher quality sleep.

<h2>2. Air purification</h2>

[smartcode_project:default project_id=22584]

Plants <a href="https://en.wikipedia.org/wiki/NASA_Clean_Air_Study">act as natural air purifiers</a>, so the more you have in your house, the cleaner the air you breathe will be. This is one of the best indoor plants benefits as some indoor plants can even remove harmful toxins from the air.

The best plants to achieve this are the spider plant, bamboo palm, gerbera daisy, and dwarf date palm, all of which are also non-toxic to pets. The snake plant, however, is toxic for pets, but also a great air purifier, so best to only opt for this one if you don't have any furry friends running around.

<h2>3. Natural humidifiers</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/3naturalhumidifiers.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="510" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/3naturalhumidifiers.png?itok=y_gVMsjC" width="580"></a></figure>Around 95-97% of the water consumed by indoor plants is released into the atmosphere making the plants natural humidifiers. This is a process known as transpiration which occurs when sunlight comes in contact with the leaves, pulling water from them into the air. Harsh dry winters and summers will benefit from healthy indoor plants, especially if you are running the air-conditioning a lot as it causes low humidity. People see the benefits of indoor plants for health reasons to help prevent dry skin, throat, and eyes. An increase in absolute humidity can also help to kill flu viruses.

Cacti and succulents tend to release a lower amount of water, making them ideal for spots that are already quite humid.

<h2>4. Health and recovery</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/4healthandrecovery.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="425" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/4healthandrecovery.png?itok=5x_6mjYy" width="580"></a></figure>Better air quality lessens the chance of common health issues. There is a reduction in colds, coughs, and even anxiety. If the humidity in a room is above 40 percent, the virulence and infectivity of the flu virus and other airborne viruses is significantly reduced. As we mentioned in the previous point, plants can increase humidity levels through transpiration.

Keep in mind that the bigger the plant, the more transpiration occurs, so if you really want to raise the humidity in your home, opt for the larger plants.

It has even been shown that plants assist the <a href="https://www.uts.edu.au/about/faculty-science/news-and-event-archive/news/sick-building-syndrome-how-indoor-plants-can-help">healing process thanks to positive physiological responses</a>. Patients in hospitals with plants and flowers were found to have lower ratings of pain and fatigue than those is stark, empty rooms.

<h2>5. Ready to use ingredients</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/5readytouseingredients.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="380" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/5readytouseingredients.png?itok=AN-kB-EU" width="580"></a></figure>There are some indoor plants for health and some that are simply delicious, meaning you can have ready-to-go herbs or medicine in your home. This <a href="/expert-insights/buying/11-small-apartment-ideas-create-more-space-following-these-simple-steps">expands the area of your home</a> to include a mini-supermarket to spice up your meals (literally if you plant herbs and spices).

The aloe vera plant is an excellent example of this as it produces a gel that will help the skin to heal if you suffer a cut or burn. It also makes for a good moisturiser and aftershave.

For the kitchen, Thyme or Curry Leaves are easy to grow indoors and perfect for cooking. They also provide medicinal benefits with Thyme doubling as a great way to heal a sore throat, and Curry Leaves being good for your heart.

<h2>6. Fragrance</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/6fragrance.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="506" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/6fragrance.png?itok=y21yV3fO" width="580"></a></figure>Synthetic room fresheners are sometimes very harsh or overpowering, a more natural way to fragrance your home is, you guessed it, with indoor plants.

The best options here are plants like Jasmine, Lavender, or the Peace Lilly, all of which release a gentle and beautiful fragrance into the air. This is a great way to have a room freshener that doesn't require any chemicals. These natural smells can help you <a href="/guides/14-steps-to-making-your-brand-new-apartment-feel-like-home">feel more comfortable and at home</a> in your space.

<h2>7. Good looks</h2>

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No <a href="https://www.opencolleges.edu.au/careers/blog/reasons-interior-decorate-with-plants">matter what interior design trend is in</a>, indoor plants are always a feature and a great way to add colour or a classy look to any room. Something about bringing an element of the outdoors inside helps you feel more comfortable and better connected to nature.

The best thing about plants is the variety of colours and sizes to choose from, meaning that no matter what type of home you have, or which style you prefer, there will be a plant to suit. You can also get a little creative with the vases or pots which hold the plants along with where they sit. Either mounted on the wall, or in the center of a table, the design options are endless.

<h2>8. Improved concentration</h2>

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Plants have been shown to help with focus, and people are more productive in greener spaces.

<a href="http://plantsolutions.com/documents/PlantsForLifeReport.pdf">A study performed by The Royal College of Agriculture in Cirencester, England</a> showed that lecture theatres with indoor plants receive better attentiveness from attendees. Further to this, <a href="https://www.fastcompany.com/3021742/want-to-be-more-productive-buy-some-desk-plants">a number of studies in Norway</a> tested the effect of desk plants on productivity and found overwhelming figures to suggest that workers that were surrounded by plants did much better than those who were not.

Office plants are known as a simple, cost-effective way to improve morale. The reason why the plants helped comes down to “attention restoration,” which is the relief of mental fatigue by breaking direct attention. The proximity of nature provides a simple form of engagement, which has a micro-restorative impact on people in the workplace.

<h2>9. Better quality sleep</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/9abetterqualitysleep.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="374" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/9abetterqualitysleep.png?itok=gLEaDKQG" width="580"></a></figure>There are specific benefits of having plants in your bedroom, especially if you experience restlessness when trying to sleep.

A Lavender or a Jasmine plant helps people to have a deeper sleep as they have a calming effect which reduces stress or anxiety. A Valerian plant is another great option to help you sleep, and it will look great while doing it. The Valerian has small pink and white flowers that emit a sweet scent from the plant that has been used to help cure insomnia. 

Inhaling the scent can induce and improve the quality of sleep with many people adding the petals of the plant to a bath. Keep in mind however, the Valerian requires a fair bit of sunlight, so it's best if you keep it by a window.

<h2>Indoor plants good for health</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/9bindoorplantsgoodforhealth.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="321" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/9bindoorplantsgoodforhealth.png?itok=ieSRfF3j" width="580"></a></figure>As you can see, it's all pros when it comes to filling your house or apartment with indoor plants. With <a href="/expert-insights/buying/decluttering-experts-share-effective-downsizing-advice-for-apartment-living">more people downsizing to smaller homes</a>, indoor plants are a great way to provide comfort and style while also helping you feel connected to the outside. 

The visual, mental, and physical health benefits that indoor plants can provide make them a valuable asset to any home. The only thing you need to worry about and the part that people have the most trouble with is keeping the plants alive and healthy. Manage to master this, however, and the plants will keep you healthy in return. 

<h2>10. Lessens background noise</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/10lessensbackgroundnoise.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="383" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/10lessensbackgroundnoise.png?itok=4ulZ6VRn" width="580"></a></figure>If you live in the city, the background noise can sometimes reach significant volume levels. Apartment buildings, in particular, are louder as the sound waves refract off the hard surfaces and indoor plants can help to absorb these, reducing the noise levels.

Indoor plants with broad leaves or shrubs should be considered <a href="/developments">if you are looking at some of the many new apartment developments</a> popping up at the moment. If you are looking to make one your own, the inclusion of some indoor plants will help make things a little bit quieter and more comfortable.
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10 Benefits of Having Plants in the House

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We all know that spring-cleaning is necessary, but it can be easy to procrastinate when you don't really know how to spring clean your home? Regardless, this is a necessary task to enjoy that things stay hygenic and comfortable for you, your family and your guests.

So you've put aside a day and are ready to give it some elbow grease and are prepared to tick the big task of spring cleaning off your list. To help, Apartments.com.au have prepared a guide of the best spring cleaning tips in 2019 for how to spring clean your house in a day.

Use this as an opportunity to freshen up your place, <a href="/expert-insights/buying/decluttering-experts-share-effective-downsizing-advice-for-apartment-living">declutter a little bit</a> and look forward to relaxing in a clean space once the job has been done.

<h2>First, make a plan</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/firstmakeaplan.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="382" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/firstmakeaplan.png?itok=qm1it46j" width="580"></a></figure>You'll be surprised how much more efficiently you will use your time if you put together a small plan first. Decide on some goals, what you would like to achieve or at least how much cleaning you can handle. Depending on the size of your place, a single day may be fine, or it may require a multi-day project. Is this purely a cleaning endeavor, or are you looking at reorganising as well? This may be an <a href="/expert-insights/buying/11-small-apartment-ideas-create-more-space-following-these-simple-steps">excellent opportunity to create some more space in your apartment</a>.

Make a list of all the tasks you plan to tackle. This will not only help you determine your schedule, ensuring you don't forget anything but also what supplies you may need. You can use all of the spring cleaning tips and tricks in the book, but without a level of planning and organisation, you'll likely leave something out.

To help ensure that you don't go insane, it's also a good idea to decide on time intervals for breaks. Set a timer every 45 minutes so you can focus on cleaning for that time, then give yourself a physical and mental rest to look forward to. You'll be surprised how much quicker this makes a long day seem.

<h2>The spring cleaning checklist</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/thespringcleaningchecklist.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="431" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/thespringcleaningchecklist.png?itok=UAcpwJTE" width="580"></a></figure>You may be wondering how to spring clean your room, or the whole house? This can take some time <a href="/guides/why-micro-houses-why-not">unless you are living in a micro-house</a>, so the following checklist will help you to ensure nothing is missed while also offering a few spring cleaning hacks to help along the way.

1. Start with wardrobe

Now is a great time to donate any clothing, shoes, or accessories that you haven't pulled out of the closet in a few seasons. Keep in mind that the chances are if you haven't worn something for a whole season, it's unlikely that you will during the next one.

2. Next, the home office

If you have a home office, you will know that it is one space that can get very cluttered. File or shred any unnecessary paperwork and organise the remaining stuff into a neat pile. You may even want to do some digital cleaning on your computer to free up some disk space or clear out all of those icons on the home screen. 

3. The first big one, the kitchen

The kitchen is always another clutter-heavy area. Now is the time to donate any glasses that don't match, whittle down all of the mugs, and get rid of pots and pans that are in a miserable condition. Just like you did with the wardrobe, get rid of the items you don't use. Then tackle the food in the refrigerator and pantry.

4. Living rooms and bedrooms

The first thing you should do is move the furniture out of the room so you can properly clean the floors. Vacuum or mopping around the edges does not qualify as a proper spring clean. Get everything out of the way to make your task easier and far more thorough.

<h2>Spring cleaning tips and tricks</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/springcleaningtipsandtricks.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="323" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/springcleaningtipsandtricks.png?itok=HBS0AOYo" width="580"></a></figure>Once you have decided when to start spring cleaning, there are tricks you can use to ensure you get a high-quality clean, making all of your effort worthwhile. These include:

<ul>
<li>
	Avoiding dust bunnies
	</li>
</ul>
When cleaning, start from the top of the room, and clean down. Wipe the ceiling, fans, and light fixtures before the walls and furniture in the room, so you are moving with the falling dust. Move all appliances to ensure thorough dusting.

<ul>
<li>
	Avoid using paper towels
	</li>
</ul>
Not only is this a less-than-reliable implement for cleaning, but using paper towels isn't great for the environment. Use a washable cloth and save what will likely be around four or five rolls of paper towels for a house clean. <a href="https://www.carbibles.com/best-microfiber-towel-review/">Reusable microfiber cloths</a> are perfect for everything, including mirrors and appliances, and you just chuck them in the washing machine to use another day. This is also a more cost-efficient option, as well.

<ul>
<li>
	Cleaning stainless steel
	</li>
</ul>
The best way to clean any stainless steel is with a small amount of specified stainless steel cleaner that you rub with the grain. After this, use a different microfiber cloth and a few drops of baby oil, once again rubbed with the grain.

<ul>
<li>
	Check smoke detectors
	</li>
</ul>
Spring cleaning is also a great time to check your smoke detectors to ensure that they are in working order and that the batteries don't require a change.

<ul>
<li>
	Washing fabric
	</li>
</ul>
The fabric in your home collects dust and bacteria, so the spring clean is a great time to wash curtains, bedding, and rugs. The same applies to the carpets; you can hire a carpet cleaning machine and buy some shampoo to really give them a deep clean. Finish off by vacuuming the furniture and flipping your mattresses (which should be done every six months).

<ul>
<li>
	Window washing
	</li>
</ul>
Glass cleaner and a squeegee is the best way to rid your windows of any grime. You'll likely notice a lot more natural light filtering into the house after this has been completed as well. The best way to clean the window tracks and sliding doors are with some cotton wool tips that have been dunked in white vinegar.

<ul>
<li>
	Don't forget about grout
	</li>
</ul>
Spring cleaning in the bathroom means paying attention to the grout. It can be tedious, but using a grout stain or bleach will restore the colour bringing new life into the room. Be aware that you may need to re-caulk and bathroom areas that are discoloured.

<h2>More than just cleaning</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/morethanjustcleaning.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="384" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/morethanjustcleaning.png?itok=CWahCFFr" width="580"></a></figure>Despite the name, spring cleaning doesn't just have to be about cleaning work. You can do something a little more fun to really drill that new refreshed feel in with something like a decor update. 

Mount the TV, organise the closet, buy some new bedding or add some more potted plants Spring is a great time to grow some indoor greenery and flowers and plants are a great way to add colour and life to your space. Top it off with a scented candle, and kick back and enjoy your refreshed home. We should also mention that while all of this applies to homeowners, <a href="/guides/young-home-renters-as-%E2%80%98permanent-renters%E2%80%99">it is also necessary for renters</a>, it is after all your space and the better it feels, the better you will.

<h2>How to enjoy spring cleaning</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/howtoenjoyspringcleaning.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="323" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/howtoenjoyspringcleaning.png?itok=BSjagFf3" width="580"></a></figure>We know, spring cleaning can be a big job and life would be better if we didn't have to do it at all. Hiring a professional cleaner is the only way to make this a reality. This isn't the worst idea as a professional will save you a lot of time, and you can be sure that the job is done to a high standard; however an in-depth clean like the one described above will not be cheap.

If you decide to stick with the DIY route, it's best to keep the end goal in mind, the satisfaction and comfort you will get out of a truly clean home. This is a lot easier if you own your home or <a href="/new-apartments">have just bought a new apartment</a> as this kind of upkeep is a way of protecting your investment and ensuring it stays in excellent condition if the time comes that you decide to sell it.

Be thorough and treat this task as a great way to refresh your home, keep everything inside of it, including yourself, healthy and lower the stress levels by ticking a big job off the list. <a href="https://www.psychologytoday.com/au/blog/the-truisms-wellness/201607/the-powerful-psychology-behind-cleanliness">Some people even find the act of cleaning therapeutic</a>, lean into that idea, and you'll be enjoying a sparkling new home in no time.
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How to Spring Clean Your Home

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Many people ask the question, does landscaping increase property value? The answer is a profound yes. Landscaping is one of the best things a homeowner can do outside of a house to increase its value. Landscaping can enhance the look of a property while adding value, creating a better financial standing when refinancing or selling.

The return on investment is not necessarily only financial; you can increase the enjoyment and comfort of your home for your day to day with various landscaping features as well. So, does a nice garden add value to your home? It adds financial value, along with the value of how you enjoy your surroundings.

<a href="/">Apartments.com.au has prepared this guide</a>, which delves into the effect of landscaping on property value and why a professionally designed, developed, installed, and maintained landscape could be a worthwhile property investment.

<h2>The benefits of landscaping</h2>

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If you are wondering how much value does a garden add to a property? <a href="http://www.actrees.org/files/Research/landscaping_house_prices.pdf">Clemson University Professor Mark S. Henry released a research paper</a> that claimed even a small increase in the quality of your home's landscaping could increase the resale value of a property by around seven percent, and that is without much financial outlay. The more you invest in your landscaping, the greater the return.

The garden area of a home is directly related to the overall appeal and can significantly influence a buyer's perception of a property. It can also help you to create a more functional space for entertaining to <a href="/guides/how-to-settle-into-your-new-neighbourhood">have your neighbours around to help settle into your community</a>.

There are many environmental benefits as plants improve the quality of our air, and inner-city neighborhoods with beautiful, usable outdoor areas see increased social interaction between residents. While it is not always appropriate to spend time in the garden all-year round, the visuals of your garden a ever-present. 

<h2>The best landscaping to add value</h2>

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While there is more value in a landscaped home, you'll need to consider both the front yard, which creates curb appeal, and the backyard, which is often more used and where the money needs to be spent.

Keep in mind some of the following do's and don'ts:

<ul>
<li>
	Less lawn means less maintenance, people may be put off by having to add the mowing of lawns to their to-do list
	</li>
	<li>
	A landscaped patio can raise the value of a home as it melds the idea of outdoors with the indoor 
	</li>
	<li>
	Water (not a pool) is an appealing feature to create a calming atmosphere, consider a fountain or small pond 
	</li>
	<li>
	Outdoor lighting with solar-powered lights creates security and a stylish aesthetic
	</li>
	<li>
	Swimming pools do not increase the property value as they create an additional cost
	</li>
	<li>
	The same applies to tennis or basketball courts, increased enjoyment? Yes- increased value? No. You will be limiting your sales options to those with a similar interest
	</li>
	<li>
	Choose a wooden deck over a concrete patio as it is easier to maintain and will offer more longevity 
	</li>
	<li>
	There are benefits to installing a sprinkler system including less water usage and less maintenance
	</li>
	<li>
	Avoid fake turf as it doesn’t age well
	</li>
</ul>
As people begin to focus more on sustainable, green living, the garden areas are receiving more attention. <a href="/news/5-new-sustainable-apartment-developments-in-australia-2019">Even apartment living is heading down the sustainable route</a>. 

<h2>Plants that increase property value</h2>

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The plant options available to you when landscaping is often entirely dependent on the region you are in as well as how big your garden is. For example, capital pear trees are popular in Melbourne, and bamboo is a common choice for multi-storey houses.

The native <a href="https://www.screenhedgeplants.com.au/articles/how-to-select-a-lilly-pilly-hedge/">lilly pilly hedge</a> is a great way to add a sense of privacy to a home or yard area, which can often make things look more appealing. The best fast-growing trees are often eucalypts which offer plenty of varieties, but a reliable rule of thumb is that any native species will grow a lot quicker than imports. Bamboo, once again, is a fast grower and a popular trend currently is adding creepers to walls to help create a greener aesthetic, especially when you are dealing with an apartment complex.

<h2>Landscaping tips to increase home value</h2>

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If you are landscaping to sell a house or even just to improve your property, here are some landscaping tips to consider:

1. Focus on your lawn edges

Edging your lawn is a big way to make your garden look neat. It also creates a tamed feel, which makes it look like it requires less maintenance, which is a great selling point. Edging is easy and can be done by yourself, or you can hire a professional to really ensure it looks great.

2. Add a lot of plants

The effect of a visual barrier from plants cannot be understated. It can also help to reduce street noise while creating shade in the summer months. It would be best if you kept a limited number of plant species as it is easier to maintain while creating a uniform look. Biodiversity is an excellent way to reduce pest impact and create colour; you just don't want to go over the top.

3. Mulching

Mulching (and weeding) also helps to create the visual effect that your garden is low-maintenance, and it simply makes everything much neater.  Utility mulch is your best bet, e.g., pine bark or forest fines, as they look neater.

4. Install new lawn

If selling, a lush lawn will really make an impact, and the most cost-effective option is Kikuyu lawn instead of buffalo grass. Patchy or browned lawns will benefit from lawn seed blend which will thicken and green the lawn.

5. Don't be afraid of some colour

Colourful flowers in planters and a range of pots with perennials will really create a comfortable aesthetic. Plus you can take them with you once you have sold the home.

6. Be a conservative pruner

Pruning is a great way to create a well-maintained look; however, you don't want to go overboard or hack away at things too much. Bare is bad, so just take a little off the top.

<h2>The advantages of hiring a professional landscaper</h2>

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If you are wanting to avoid the DIY route and guarantee high-quality gardening services, a professional is the way to go. They will come equipped with specialised equipment and materials, such as more precise mowing equipment and varieties of fertiliser. It may cost a little more, but <a href="/guides/how-much-does-it-cost-to-sell-a-house-or-apartment">there are many costs involved with selling a home</a>, few of which can help raise the price. Landscaping, is an investment, and the best way to get the most out of it, is to ensure the work is handled in a professional manner.

When using a professional, you receive their knowledge and skill. The training and experience offered will likely outweigh the capabilities of a DIY method, and they can provide a maintenance plan to ensure your garden continues to flourish and you are getting the most out of your investment.

It is also vital to preserve your landscape, which means not overwatering, or as we discussed above, over-pruning. Small mistakes can have a significant impact on the final look and health of your garden, so a professional will give you peace of mind that the job is being handled correctly. Above all, the time and energy you save when you work with a professional can be very valuable, on top of knowing you are getting the best result possible.

<h2>The real effect of landscaping on property value</h2>

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The value of your property is dependent on the location and style of your home, but it also comes down to the presentation and care taken when looking after it. For this reason, a beautiful and functional garden or outdoor area is a very important element of ensuring your home looks its very best.

Any home improvements will assist in the value of your property. The visual element of a garden, however, which is the display of your property to the rest of the world, is one of the most important. First impressions last and you want potential buyers to understand that you have looked after your home. Convince them that this property is a low-maintenance task that is neat and tidy, and that they will be able to feel comfortable and enjoy the outdoor areas. <a href="/new-townhouses">There is a lot of competition in the sales market</a>, so you want your place to stand out. All of this increases the value of your home and has you best-positioned for a good sale.
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Does Landscaping Increase Property Value?

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2021 UPDATE: It is important to know that the way banks and financial organisations assess their loan criteria has significantly changed in recent years. <a href="https://www.theguardian.com/australia-news/2020/feb/01/banking-royal-commission-one-year-on-optimism-over-changes-but-banks-fight-back">Banks are fighting back against the Royal Banking Commission</a> who cracked down on lending criteria. This means that the terms of acquiring a loan are more stringent than they were a few years ago.

There is a simple rule that people can often forget; just because you can spend it, doesn't mean that you should. This is particularly pertinent when it comes to how much should you spend on your first house. The loan amount you are approved for doesn't always align with a realistic financial responsibility, which is why you need to determine how much you can afford for yourself first.

Figuring out how much you can afford to pay each month goes much further than just the sale price, as there are <a href="/guides/top-10-hidden-costs-of-buying-a-house-or-apartment-in-2021">many hidden costs associated with buying a home</a>. Your lender may surprise you with an approval of more than you were expecting, and while this makes it tempting to upgrade, it may not exactly fit your budget.

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To help, <a href="/">Apartments.com.au</a> has put together this guide to help determine how much should you spend on your first house vs. income so that you can be well-prepared to live a comfortable life in your new home. The answer is different for everyone as situations vary, the key is to leave yourself a decent buffer so you don’t end up in hot water.

<h2>Responsible lending</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/responsiblelending.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="381" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/responsiblelending.png" width="580"></a></figure>It is important to know that the way banks and financial organisations assess their loan criteria has changed significantly <a href="https://www.theguardian.com/australia-news/2019/feb/04/key-points-and-recommendations-of-the-banking-royal-commission-report">since the Royal Banking Commission</a>, which has cracked down on lending practices. This means that the terms of acquiring a loan are a little more stringent than they were a few years ago as financial institutions need to be more stringent to ensure responsible lending.

Make no mistake about it, predatory lending and loose underwriting standards for residential loans are a bad thing. Sure, more people are approved for mortgages, but they are mostly unrealistic when it comes to monthly payments which cause a lot more damage for the individuals and the property market as a whole in the long run. When it comes to buying your first home, and if you are looking at adding to your portfolio, defaulting on a mortgage is the worst case scenario, and it is solely up to you to ensure that doesn’t happen.

[smartcode_project:default project_id=8082]

People have in their lenders, surely if the bank said it was ok for them to have an amount they can afford it, right? Wrong. This exemplifies the importance of running your own budget and knowing what you can afford. Mortgage lenders are not always offering sound financial advice. It is a bank's business to create and sell loans. Some lenders may even have incentives to sell loans meaning your best interests are not the primary goal. 

<h2>Understanding the whole picture</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/understandingthewholepicture.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="369" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/understandingthewholepicture.png" width="580"></a></figure>The key to understanding how much you should spend on your first house is not just about deciding what you can afford now. It would be best if you also projected what you could afford in the future, aiming for the next five to 1ten years. While it can be hard to do this, as life can be unpredictable, your best-guess predictions will have to do and serve you far better than only looking at your current state.

Lenders are often calculating your affordability based on the information you provide, which is often lacking the intricacies of your true financial picture, or how it may change. You may experience changes to job roles and income, have children, or a range of other situations that will require you to have some sort of financial buffer. Keep in mind that bailing out and selling your home isn't always a failsafe plan if things get complicated. The property market is very unpredictable at the moment, and <a href="/guides/how-much-does-it-cost-to-sell-a-house-or-apartment">there are costs associated with selling your home</a>.

[smartcode_project:default project_id=29947]

Keep in mind that lenders look at your situation with a forecast that everything will travel smoothly with little fluctuation, it is on you to be realistic and skeptical, planning for the unexpected and keeping a level of financial security at all times. If you plan for the worst, you will experience positive little bonuses along the way if it doesn’t happen.

<h2>Income doesn't always go up</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/incomedoesntalwaysgoup.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="456" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/incomedoesntalwaysgoup.png" width="580"></a></figure>One thing that banks and lenders assume is that your income will grow as time passes. While everyone hopes they will be making more money in the future, it simply is not always the case.

The rule of spending 30% of your income on your home expenses is now often defined as a <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/life/how-much-to-borrow-for-home-to-avoid-mortgage-stress/11817848">‘mortgage stress’</a>, for those that are new to the workforce. The current cost of living, <a href="/guides/2019/06/17/urbans-first-home-buyer-guide">especially for those who may be first home buyers</a> new to the market, means that 30% probably won't actually cover all home expenses.

For this reason, banks lend more than the 30 per cent benchmark based on the assumption that the earning power will go up in the future. But what if it doesn't? Homeowners may need to redefine their approach to homebuying. It's widely noted that rising house prices are spreading <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-02-03/house-price-rise-spreads-beyond-sydney-melbourne/11923136">beyond Sydney and Melbourne</a> as house prices spread beyond, even despite the decline of pace in development growth.

[smartcode_project:default project_id=27675]

The only rule left to stick to is to purchase a home that you can afford and buy realistically from the jump. Your property may not go up in value, and your income may plateau or drop.

<h2>Focus on the repayments</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/focusontherepayments.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="508" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/focusontherepayments.png" width="580"></a></figure>Loan terms can be tweaked so that lower payments are required at the beginning of a loan to make the amount more manageable. This is another reason why you need to plan for the long term. Low-interest rate short-term mortgages with variable rates seem like a great deal with a manageable financial outlay to start with, but you are committing to a 30-year debt. Even a fixed-rate mortgage, which will give you a more accurate picture, can only be locked in for around five to ten years.

You may be flush with funds as you have your deposit saved up, <a href="/guides/how-to-navigate-australias-first-home-buyer-grants">plus the first home buyer grant</a> is making things seem even better, but thirty years is a long time, and things will change.

A large percentage of your income will go towards your new home, and other areas of your life will need to become more cost-effective as a result. This may even affect your retirement and quality of life. Financial stress can also put a strain on relationships and mental health. Only you can determine an affordable mortgage that is conducive to a lifestyle that will make you happy.

To achieve this, understand your monthly budget, the interest rate, and taxes. You will likely benefit from speaking to a financial planner to really understand how much you should spend on your first home, as they will look at your whole financial situation. Research the true cost of living in the area you plan to buy. 

<h2>Deciding what you should spend on your first house</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/decidingwhatyoushouldspendonyourfirsthouse.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="400" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/styles/article_full_width_580px/public/pictures/article-images/decidingwhatyoushouldspendonyourfirsthouse.png" width="580"></a></figure>If you are at the point <a href="/new-townhouses">where you are ready to start looking for your first home</a>, work out a budget before you start shopping. Budget for:

<ul>
<li>
	Home insurance
	</li>
	<li>
	Taxes
	</li>
	<li>
	Housing repairs
	</li>
	<li>
	Stamp Duty
	</li>
	<li>
	Utilities
	</li>
	<li>
	Council Rates
	</li>
	<li>
	Lenders fees
	</li>
</ul>
You do not want things to be tight when it comes to your house payment. Your budget will need to cover living costs as well, so sometimes it's a good idea to practice living on your new budget before you buy your home to see if it is realistic. The money you would be spending on the "mortgage element" during this trial can be put into a savings account for your new home. 

If you find yourself in the position where the style of home you wanted doesn't align with what you can really afford, you may need to wait a little longer to increase your deposit. You'll have to decide if putting off buying a home for a few years is worth it for the home of your dreams, or if you can sacrifice size and location to get into the property market sooner? Being financially ready to purchase a home is the most important thing. 

If possible, have your loan pre-approved before you begin shopping for a home. It would also be best to have a buffer or emergency fund in place in case the worst happens, and you lose your income source. Keep in mind, the requirement of a loan payment doesn't stop because your situation changes. As long as you are realistic and err on the side of caution, things should be just fine, and you can start your property ownership journey with peace of mind.
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How much should you spend on your first house in 2020?

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There is no shortage of apartment or townhouse living all over Australia <a href="/developments">with plenty more developments on their way as well</a>. While the <a href="https://www.becomingminimalist.com/10-reasons-why-minimalism-is-growing-a-k-a-10-reasons-you-should-adopt-the-lifestyle/">idea of minimalist living also grows</a>, the need for small kitchen design ideas is vital to ensure that you not only get the most out of your limited space but also enjoy how everything looks.

While the idea of downsizing your lifestyle to something like an apartment may be attractive, many people, especially those who love to cook, are put off by the idea of a cramped kitchen area. However, this doesn’t have to be the case. Apartments.com.au have compiled these clever kitchen design ideas for small kitchens to help create a practical and stylish space for food preparation and entertaining.

<h2>Storage</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/storage.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="301" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/storage.png?itok=kQotuws2" width="580"></a></figure>With any kitchen, not just the small ones, storage is one of the most critical elements. With small kitchens in particular, however, you need to make use of every spare inch. Small kitchens need to ensure that all areas are working as hard as they can. This doesn't mean over-cluttering, just being smart with the use of space.

It is a little easier to plan your area in a new development. Existing homes <a href="/guides">or off-the-plan apartments</a> may be a little more set in their layout, so it will take some work to understand which small kitchen design ideas work for your area. Think about how you use your kitchen as this will give an idea of the most optimal positions for where things need to be and what sort of storage you will require. 

Store your kitchen items by how often they're used, especially when deciding on their shelf location, with everyday objects in the lower spots.

Compact containers can be a great way to store things while also providing a nice visual element. You can use baskets for storage of condiments and keep fresh herbs in pots which not only provides storage but an easy way to take them over to the dining table.

If you notice any wasted space, stack containers there or add a utensil rail or magnetic knife board (as pictured above). You can hang hooks on the side of cupboards or create extra shelves in corners. Storage helpers are the best way to use all of your cupboard space. There is a range of internal storage solutions available for slim cupboards, or you can get a mobile solution in the form of trolley or butcher's block that can be moved out of the way when necessary.

<h2>Opt for a large sink</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/optforalargesink.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="561" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/optforalargesink.png?itok=N7fopzRz" width="580"></a></figure>It is unlikely that a dishwasher will be a feature of a small kitchen, so to make up for it, install a double sink if possible. This allows you to use a bowl for washing and another to hold dirty dishes or for drip drying. 

This <a href="/expert-insights/buying/decluttering-experts-share-effective-downsizing-advice-for-apartment-living">will help to declutter the workspace</a> while cooking and give ample room to ensure that clean-up is easy.

<h2>Layout design</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/layoutdesign.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="363" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/layoutdesign.png?itok=1cQlklcJ" width="580"></a></figure>If you are in the planning stage of a new apartment, <a href="/expert-insights/buying/11-small-apartment-ideas-create-more-space-following-these-simple-steps">you may be looking for ways to create more space in a limited area</a>. The design layout of your kitchen needs to be functional while also looking good.

The key to the right layout is the moulding of the kitchen design into the space, which often means less is more. Attempt to incorporate everyday appliances into the space via purpose-built appliance cabinetry and stack appliances where possible.

Some points to remember when designing your layout include:

<ul>
<li>
	Avoid using cabinets that have a lot of empty space, opt for drawers where possible
	</li>
	<li>
	Don't place your cooktop and sink too close together and ensure enough room for saucepan handles 
	</li>
	<li>
	Use open shelves to maximise wall space
	</li>
	<li>
	If you do have a dishwasher or oven, ensure there is room for the doors to be fully opened
	</li>
</ul>
<h2>One-wall kitchens</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/onewallkitchens.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="285" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/onewallkitchens.png?itok=kAoy6EMK" width="580"></a></figure>One-wall kitchens, which surprisingly are confined to just one wall, are common in open-plan areas and studio apartments. They are great because everything is very easily accessible while cooking; however, they do lack counter space.

For this reason, it would be best to bring in something that can serve as a preparation area, be this via a table or portable kitchen island. The table can double as a spot to actually eat whatever you cook on, <a href="/guides/14-steps-to-making-your-brand-new-apartment-feel-like-home">which is one way to help make your apartment feel more like a home</a>. Alternatively, you can bring in some sort of narrow console as a place for tools and ingredients while cooking.

One-walled kitchens often have a habit of being the focal point of the space when in studio apartments, which is why it is best to reduce the open areas with folding doors or panels which can help to hide clutter and make the wall less busy to the eye.

The alternative to the one-wall kitchen in small apartments is the galley kitchen which features two parallel walls in a hallway style setup. These layouts can often create a cavelike feel, which is why it is best to avoid upper cabinetry, instead opting for shelving to open up the space. You will likely need tall storage for the pantry area, try to keep this as the only tall storage in the galley kitchen.

<h2>Knowing your small kitchen</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/knowingyoursmallkitchen.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="402" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/knowingyoursmallkitchen.png?itok=Qroi3F6q" width="580"></a></figure>While a lot of the <a href="/guides/looking-for-something-special-in-qld-here-are-6-of-brisbanes-unique-apartments">new apartments that are popping up can be quite unique</a>, the kitchens tend to stick to certain designs. The following are some of the different shapes of small kitchens:

<ul>
<li>
	The Horseshoe or U-shaped kitchen which has loads of counter space and under-counter storage
	</li>
	<li>
	The Peninsula or G-shaped kitchen which features an extra counter on top of what would otherwise be considered a U-shaped kitchen
	</li>
	<li>
	The L-shaped kitchen which features counters along two perpendicular walls with a single corner and open space
	</li>
</ul>
There are various elements you can include into the above layouts to make the most of the space while also creating a desirable aesthetic. This can include:

<ul>
<li>
	Seating
	</li>
</ul>
If you have a design that includes extra counter areas, add stools or seating options for breakfast time or casual dinners. This is also great for entertaining as it creates a central point for snack and people to crowd around as well as creating an extra dining spot.

<ul>
<li>
	Pendant Lights
	</li>
</ul>
Make your surface area well lit for food prep with a row of pendant lights that not only look stylish but offer directional light for your tasks while brightening up the entire kitchen.

<ul>
<li>
	Floating Tables
	</li>
</ul>
Specifically for use in an L-shaped kitchen that faces a blank wall, a floating table will create extra counter or dining space. If you have a narrow area, you can find fold-down tables that close into the wall when not in use. The other layouts listed above can benefit from a slim, rolling island, which can be moved around or out of the way when necessary.

<ul>
<li>
	Cohesive Materials 
	</li>
</ul>
Your small space will look sleek if you use panel-ready appliances that match your cabinetry. This is a key aspect of the minimalist look.

<ul>
<li>
	Light cabinets
	</li>
</ul>
Ensure that your cabinetry isn't too dark to avoid making an already small kitchen feel cramped. Exposed shelving can also help to prevent this.

<ul>
<li>
	A Kitchen Island
	</li>
</ul>
For layouts with a lot of space, a kitchen island creates a central element for extra space and storage. Since it can be a centerpiece, give the base a bold colour that works with all of the other cabinetry.

<ul>
<li>
	A Pot Rack
	</li>
</ul>
Pots and pans can be bulky and take up a lot of storage space. Hanging them from a rack frees up some room and can make it easier to access these necessities. 

<h2>Making the most out of your small kitchen</h2>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/makingthemostoutofyoursmallkitchen.png" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="380" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/makingthemostoutofyoursmallkitchen.png?itok=WTKuD5zV" width="580"></a></figure>Don't let the idea of having a small kitchen turn you off of <a href="/new-apartments">finding a new apartment that offers luxury, comfort, and convenience</a>. It is easy to make a small kitchen functional and a stand-out feature of your home.

Ensuring that you make use of all the available space and positioning the elements of your kitchen in such a way that things are not cluttered can make small areas feel far more spacious and comfortable.

Small apartments and homes are charming and cozy as long as you understand the do's and don't of your particular layout. The kitchen is an essential part of every home and downsizing your living space, and therefore your kitchen doesn't mean you need to say goodbye to the efficiency, style, and organisation of a bigger one.
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Small Kitchen Design Ideas

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

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