<html><body>
Let me confess upfront… I don’t know much about farming.  I don’t know the details, but I feel comfortable with the general concept.  And, that should get me through this discussion.  But, you be the judge.

I do know a bit about <a href="/guides/how-to-invest-in-property-in-2020-the-ultimate-guide">property investing</a>.  Not that I’m an expert.  But, I’ve been doing it since 1984 when I bought my first property, a vacant block of land in Florida.

So, if you do something – anything – long enough, you get to know it.  Consequently, I’ve gotten pretty familiar with property investing over the years.

Now that I’ve confessed my knowledge limitations, let’s talk about how property investing is like farming?

Seeds first, then crop

If a farmer wants to harvest a crop, what must he/she do first?

That’s right, plant seeds!

Now, a farmer would look pretty silly standing around waiting for a crop if he didn’t plant any seeds.  Can you imagine a more ridiculous scenario than this one between Farmer Smith and Jones?

“What are you doing?” asked Farmer Smith.

“I’m waiting for the crop to come up so I can harvest it,” replied Farmer Jones.

“I didn’t see you out planting this year.  Did you plant any seeds this past spring?” questioned Farmer Smith.

“Dog gone-it!” exclaimed Farmer Jones as he threw his hands up in the air, “I knew I forgot something.  You know you’re right, I forgot to plant the seeds! That’s the second year in a row I’ve done that!  Can you remind me next spring to plant the seeds?”

Ridiculous?  Yes.

Bottom line… no seeds, no crop.

No planting season, no harvest season.

Pretty basic stuff.  Easy to understand.  Not complicated.

Farmers are risk-takers

Now, just because a farmer plants seeds doesn’t mean there will be a harvest.  It just means there’s potential for a harvest.

Have you ever heard of farmers doing it tough because the crop failed?

That’s the risk of planting.  There’s no guarantee of a harvest.

That’s the realities of farming or any business venture for that matter.

The farmer takes risks and is therefore entitled to the harvest bounty – if there is one.

Property investing like farming?

So, how is property investing like farming?

Well, the property investor must also plant seeds in order to expect a harvest.  And, just like the farmer, the property investor takes risks.  There’s no guarantee of a harvest.  The same rules apply.

Begin with the end in mind

There are so many books out there to tell you how to be a successful property investor.  So, instead of trying to rehash it all, I’ll just talk about the end result.  Give a scenario that motivates you to “get planting”; get your property garden started, a garden which can grow into a full-blown orchard or farm.

The scenarios involve two people, Mr Smith and Mr Jones.  Both are retired.  Both had the same jobs and the same incomes.

Mr Smith:  How did you amass such a huge property portfolio?

Mr Jones:  I just bought an <a href="/developments">investment property</a> every other year for about 15 years.  I’ve only got eight properties, nothing to call “huge.”

Mr Smith:  Yeah, but how much money is that?  How much income do you get from them?

Mr Jones:  Well, it’s easy to figure.  Let’s see, eight properties by about $300 a week, so that’s an extra $2,400 a week, minus expenses of course.

Mr Smith:  How much do you keep?

Mr Jones:  Most of the loans are paid off so I keep about half.  So, it means an extra $1,200 a week in my pocket.  It’s more than my retirement check so that’s nice.

Mr Smith:  Yeah, I know.  You were lucky; I didn’t have the money to invest in property.

Mr Jones:  Why?

Mr Smith:  Because I had too many bills.  I couldn’t afford to invest in property; I didn’t have any extra money.

Mr Jones:  Are you sure?

Mr Smith:  Of course I’m sure!

Mr Jones:  Didn’t you and the family go on holiday every year?  Didn’t you get a new car every two years or so?  Weren’t you going out to dinner a lot?  Didn’t you always buy everything brand new instead of looking for second-hand bargains?

Mr Smith:  Of course.  We wanted to enjoy life.  We never knew what tomorrow would bring so we lived it up a bit.  When I was working we had the money.  So, why not spend it?  Enjoy it.

And so on and so forth … the same old worn out battle cry - ‘shoulda, coulda, woulda!’

You see, Mr Smith never <a href="/guides/how-much-do-you-really-need-to-spend-on-an-apartment">planted any seeds</a>.  And, just like the farmer who doesn’t plant, he could not expect a harvest.  No chance.  Not going to happen, results in nothing, nada, ziltch.  No risk, but no reward either.

And that’s how property investing is like farming.  Simply put, if you don’t plant any seeds how can you expect a harvest?

You can’t.
</body></html>

vivian_48447

How is Property Investing like Farming?

<html><body>
Paying off your mortgage faster can help you to achieve financial security years ahead of time. Here are three simple strategies you can use to pay off your home sooner and become debt-free.

1. Halve your monthly repayments and make them fortnightly instead

If you are currently making monthly repayments on your home loan, switching to fortnightly can help you to afford to make an extra repayment each year. This is best demonstrated by using an example.

Example 1

According to the latest figures from the <a href="https://www.abs.gov.au/ausstats/abs@.nsf/0e5fa1cc95cd093c4a2568110007852b/d672cf4ebe195f15ca256e910077d9c2!OpenDocument">Australian Bureau of Statistics</a>, the average Australian mortgage is $384,700. If you were paying off that amount over a standard 25-year home loan term at an interest rate of 3%, your <a href="https://moneysmart.gov.au/home-loans/mortgage-calculator">monthly repayments would be $1,824</a>. You would hence make 12 monthly repayments each year (a total of $21,888).

However, if you divided your monthly repayment by two and paid $912 per fortnight instead, you would pay 26 fortnightly repayments per year which is a total of $23,712 per year. This equates to an extra monthly repayment of $1,814 per year (i.e. $23,712 less $21,288). 

The reason to explain the extra amount is that there are 26 fortnights per year compared to 12 months. There are also slightly more than 2 fortnights in every month of the year except February. Thus, over the course of the year, paying fortnightly adds up to an extra month’s worth of repayments. 

If these $912 fortnightly repayments were made on the $384,700 mortgage instead of monthly repayments of $1824, the loan would be paid off in 22 years and 3 months instead of 25. In other words, you would pay off your home 2 years and 9 months earlier. You would also save $22,845 in interest.  

2. Take out a mortgage offset facility 

A <a href="/news/the-difference-between-offset-and-redraw-mortgage-loans-that-are-right-for-you">mortgage offset facility</a> allows you to offset any interest you earn on another account from your home loan. 

Example 2

If you owe $300,000 on your home loan and you have $20,000 in an offset account for emergencies or other expenses, you will only be charged home loan interest on $280,000 (i.e. $300,000 less $20,000), rather than the full $300,000 that you owe on your home loan.

3. Refinance to a loan with a lower interest rate

It’s important to understand that even a small difference in home loan interest rates can make a big difference to how long it will take to repay your home loan. Again, this concept is best explained using an example.

Example 3

Let’s assume that you owe the average Australian mortgage amount of $384,700 and that your home loan provider is charging you an interest rate of 4% instead of the 3% that was charged in Example 1 earlier in this article.

If you were being charged 4%, your fortnightly home loan repayments over 25 years would be $1,015.50. 

However, if you refinanced to a home loan at a 3% interest rate and continued to pay the same $1,015.50 fortnightly amount, you would pay off your home in 19 years and 3 months instead. In other words, you would pay off your home 5 years and 9 months sooner simply by refinancing. You wouldn’t need to make any extra repayments to pay off your home loan faster.

It’s important to understand that there is usually a cost to refinancing. However, if the benefits outweigh the costs, then refinancing is a worthwhile financial decision. You should consider refinancing your home loan whenever your individual financial circumstances or market conditions change. Interest rates in Australia are currently at <a href="https://www.businessinsider.com.au/interest-rates-finances-2020-5">record lows</a> and it may be an ideal time to <a href="/expert-insights/buying/resetting-your-finances-during-covid-19-a-financial-coachs-guide">re-evaluate your finances</a> if your employment has been affected by the COVID-19 pandemic. 

The bottom line 
Paying off your home faster helps you to set up your <a href="/expert-insights/buying/resetting-your-finances-during-covid-19-a-financial-coachs-guide">financial future </a>and freedom. Although these are just three simple ways you can pay off your home sooner, you can find other ideas <a href="/guides/how-to-secure-a-mortgage-free-lifestyle-sooner">here</a>.
</body></html>

How to Pay Off Your Mortgage Faster

<html><body>
Amongst the many outdated property investment notions is that rent money is supposedly dead money.

However, there is a caveat to that concept.

That’s because life-long renters will likely always struggle financially later in life.

By the time they reach their twilight years, they generally won’t have the property assets to create a comfortable retirement. 

However, some long-term renters will have quietly been <a href="/guides/looking-to-buy-an-investment-property-top-3-things-you-must-do-online-first">growing property portfolios</a> while living in someone else’s property for years. 

By the time they are considering retirement, they may have not even lived in any of the properties that they owned during their working lives. Rather, they rented elsewhere while their investment properties grew in value over the medium to long-term duration. Then, at retirement, they can choose to sell some of their holdings to pay down the mortgage on the home they intend to live in as well as to<a href="/news/lifestyle-choice-or-property-investment-not-an-either-or-equation"> finance their lifestyle</a>. 

According to the latest <a href="https://www.pipa.asn.au/">Property Investment Professionals of Australia</a> (PIPA) Investor Sentiment Survey, the majority (63%) of investors said they would consider rentvesting – which is renting in one location and investing in another as a property investment strategy. Whereas, over one-third of first-time investors in the survey have identified themselves as ‘rentvestors’ – where they’ve bought an investment property while renting elsewhere.

There is no doubt that this way of living and investing is on the rise.

I am one of the many people rentvesting in Australia. 

Today, I live in a $1.2 million home that I rent with my wife, but that money doesn’t come out of our back pockets. Over the past 9 years, we built a $4 million portfolio around Australia, which creates $75,000 in passive income that now pays for our rent, so we get to live rent-free!

However, like any investment strategy, there are pros and cons that need to be considered before deciding whether rentvesting is for you:

Pros: 

<ul>
<li>By adopting a borderless investment mindset, you can buy in growth markets across Australia, which is probably not where you currently live. This allows you to make the most of other markets while remaining in your location of choice. </li>
	<li>It can often be cheaper to rent a property in a desirable location than to buy, depending on where you live.</li>
	<li>Over time, you will see passive income from <a href="/guides/how-to-ensure-financial-return-on-your-property-investment-in-15-simple-steps">investments</a> rather than living in your own home that doesn’t produce income.</li>
	<li>If you run a business and have a home office, you can claim part of the rent/electricity as a tax deduction. You can’t do this in your own home because of future Capital Gains Tax implications. </li>
	<li>When renting, you don’t need to pay for maintenance on the property you live in. You just pay your rent and utility bills, and if there are repairs that need to be completed you simply contact your property manager.</li>
</ul>
Cons: 

<ul>
<li>Smart investors understand that they have to hold their investment properties for the long-term to make the most of <a href="/expert-insights/buying/the-holy-grail-of-property-investment-capital-growth-and-high-yield">capital growth.</a> However, your landlord may decide to sell the property you’re renting for a variety of reasons while you’re living there. This means there is less stability and you might have to move around more than you’d like to do. </li>
	<li>When you live in a property that you own, you can paint the walls or renovate the bathroom as you see fit. In a rental property, on the other hand, you can’t update it, so you can be <a href="/guides/what-to-do-if-your-apartment-building-isnt-being-maintained-to-an-ideal-standard">stuck with issues</a>, such as bad water pressure or no air conditioning, while you live there. </li>
	<li>To make the most of rentvesting, you need to be prepared to be a renter for medium- to long-term as if you build a property portfolio. You then need to wait for your investments to perform before you can make the most of the capital growth and income. </li>
</ul>
Utilising <a href="/guides/renting-vs-buying-a-house-what-s-right-for-you">renting</a> as part of an effective overall investment strategy is a great way to build your property portfolio while living the lifestyle you want. However, with this list of pros and cons, you must consider your own financial circumstances before choosing whether rentvesting is for you. 
</body></html>

The Pros and Cons of Rentvesting 

<html><body>
Buying a property can be a daunting, long and <a href="/guides/top-10-hidden-costs-of-buying-a-house-or-apartment-in-2021">complicated process,</a> even for seasoned buyers. It's helpful to know upfront what to expect, what needs to take place and when, to make sure your purchase is as seamless as possible. 

Here is a complete checklist of everything a buyer needs to tick off their list as part of a <a href="/expert-insights/buying/how-will-the-coronavirus-impact-australia-s-property-market">property purchase</a>. 

1. Do your research

Research the <a href="/developments">market and areas </a>in which to purchase. Consider what you’re looking for in a home or investment. What are the deal breakers? Review recent sales in areas you’re interested in.

If you’re a first home buyer, you may be eligible for the <a href="/guides/how-to-navigate-australias-first-home-buyer-grants">First Home Owner Grant </a>scheme (“FHOG scheme”). Look into any other grants or benefits you may be entitled to. 

2. Find out how much you can borrow

Speak to a mortgage broker or your bank to find out how much you can borrow. This will help narrow your search. Don’t forget to also factor in other costs like stamp duty, conveyancing fees, lenders mortgage insurance if applicable as well as moving costs. 

Getting pre-approval will usually help shorten the process once it comes time to secure finance for settlement. 

3. Inspect properties 

This is the point in time when you may find yourself at open houses every Saturday. This can be tedious, but necessary. Create a shortlist of properties online and visit those of interest. Make sure to ask agents questions about any properties you’re interested in. Inspect any properties you’re very interested in more than once if possible and necessary. 

4. Review the contract of sale

For those properties you’re interested in you should request the contract of sale from the agent. Once you have the contract of sale, it is time to engage your conveyancer. The seller's real estate agent or conveyancer generally prepares the contract of sale. The buyer’s conveyancer reviews the contract and negotiates any changes before the parties’ sign.

5. Conduct building and pest inspections

Most contracts are contingent on the satisfaction of certain conditions concerning <a href="/guides/home-inspection-checklist-step-by-step">building and pest inspections </a>as well as financing and a variety of property searches. The purchaser often orders and reviews the inspections whereas the buyer’s conveyancer typically orders and reviews the property searches. The buyer’s obligation is not fixed until all contract conditions are satisfied. 

6. Make an offer or bid at auction 

If the property is going to auction you can consider making an offer ahead of the auction if the seller is interested in offers. Speak to the agent for advice. 

If you want to be in the running at an auction, you must be ready to exchange contracts and complete the sale. That means you need to have all of your ducks in a row from <a href="/expert-insights/buying/assess-your-credit-files-long-before-applying-for-finance-for-your-dream-home">organising finance</a> to securing a conveyancer. To be able to <a href="/guides/tips-for-bidding-at-an-online-auction">bid at an auction</a> you will need to register as a bidder. The highest bidder will be the buyer, so long as the bid exceeds the reserve price. Contracts will be exchanged immediately. 

Alternatively, for a private sale, you can make an offer. If the offer is accepted, you will proceed to the exchange of contracts. 

7. Exchange of contracts

Once both parties have reviewed, signed and exchanged two copies of the contract, the buyer will pay a deposit. The buyer will usually have a “cooling off” period of five days following exchange, but this can be negotiated or waived. In this time the buyer may withdraw from the agreement, forfeiting the deposit but incurring no legal penalty. There is no cooling-off period when purchasing at auction.

Once contracts are exchanged the property will enter the settlement process which is usually about six weeks. The property will be yours once settlement is completed. 

8. Secure financing 

Now is the time to speak to your bank or mortgage broker about finalising your finance. Ensuring your finance is secured in time for settlement will ensure you avoid paying penalties. 

9. Visit the property one last time

Buyers should undertake a final inspection of the property in the presence of the seller’s agent as close to settlement as possible. The buyer should raise any issues as quickly as possible. 

10. Review the title one last time

Your conveyancer will review the title prior to settlement to make sure there are no new ownership interests or <a href="/guides">caveats</a> which will need to be lifted so that a change of ownership may occur. 

11. Sort out insurance 

Home insurance will cover the cost of repairs or damage to your property. Look into the rules in your state to understand at what point damage to the property becomes your responsibility. In some cases, this will be before settlement, so securing insurance in advance of settlement may make sense, especially if you have negotiated to occupy the home ahead of settlement. 

12. Settlement 

This is the big day. Buyer, seller and lender exchange legal documents and the remaining purchase price is paid. There may be final adjustments for taxes, rental fees and the release of existing mortgages. 

Your lender will notify relevant authorities of the change in ownership and lodge transfer documents with the Land Titles Office.

13. Get the keys!

The property is now yours! Given you most likely won’t attend settlement, you will need to organise to get the keys. Make sure you also have the codes for any security devices. 

The <a href="/guides/how-to-navigate-buying-property-during-the-covid-19-crisis">process of buying a property</a> is rarely completely smooth. Whether it be issues with finance or contract concerns, it is common for unexpected surprises to pop up. This is why it's critical to establish a great team around you including your conveyancer and mortgage broker to handle any issues and ensure settlement occurs by the deadline.
</body></html>

A new (step by step) home buyer checklist for 2020 [Post-COVID 19]

<html><body>
With the <a href="/news/everything-you-need-to-know-about-australias-25-000-homebuilder-grant-how-much-off-the-plan-homebuyers-could-save">HomeBuilder grant</a> offering eligible Australians $25,000 towards building or renovating their home, many Australians will be engaging with builders - some for the very first time. 

To ensure your project goes as planned, it is critical you work with a <a href="/builders">trustworthy and reputable builder</a>. However, many Australians struggle to know how to separate the good from the bad. 

A history of unscrupulous behaviour 

We’ve all heard of someone who has had a bad experience with a builder or perhaps even had a bad experience with a builder ourselves. The prevalence of dodgy projects and dodgy behaviour by builders is obvious when you examine the statistics. Over the last ten years, new homeowners across the nation have encountered a $10.5 billion bill to fix defects such as leaks, cracks, issues with plumbing, guttering problems and more.

Another serious issue in the building sector is "phoenixing" where a new company is created to continue the operations of a former company which was liquidated to avoid paying debts. In 2017-2018 in NSW, 561 construction businesses were found to have been involved in phoenixing behaviour. Unfortunately, not all phoenixing activity is illegal and until this is stamped out it will continue to leave consumers vulnerable. 

Why the HomeBuilder scheme could make dodgy behaviour worse

The danger is that schemes like HomeBuilder which promise quick cash may incentivise those builders with a history of wrongdoing to continue to perpetuate the same behaviour. Although builders on HomeBuilder projects are required to be licensed or registered prior to the announcement of the scheme this will not fully protect new homeowners against <a href="/news/how-a-proposed-ratings-system-for-builders-could-protect-investors-from-dodgy-developments">dishonest behaviour</a>. 

Another major issue is the length of the scheme. Between the 4th of June and 31st of December 2020, the scheme covers any building contracts entered during that time frame, with construction required to begin within 3 months of the initial contract date. The issue with this is that builders will be incentivised to enter into as many contracts as possible, with chances of taking on an unachievable workload and cutting corners to finish projects. Unfortunately, there are many builders with a great reputation and who consistently deliver high quality builds who will end up being crowded out by those unscrupulous builders. 

How to select a reputable and quality builder 

The good news is that there are countless builders doing the right thing, delivering high-quality projects to budget and to time. Instead of feeling the need and pressure to choose a builder quickly to meet the limited timeframes of the HomeBuilder initiative, consumers should attempt to take the time to do their due diligence to secure a great and trustworthy builder. 

Here are some ways to vet potential builders for your project: 

<ol>
<li>Check the builder is licensed</li>
</ol>
First things first, you should always check that the builder is licensed. In NSW, this is a simple search on the <a href="https://www.service.nsw.gov.au/">Service NSW website</a>. This will weed out any unscrupulous and unlicensed operators. 

Licensed builders are also covered by insurance. In NSW, licensed builders are required to have home building compensation cover for each project over $20,000. This is to protect consumers in the case that the builder can’t finish building work or to fix defects that may arise.

<ol>
<li value="2">Seek out testimonials</li>
</ol>
Ask the builder for testimonials from former clients. If possible, see if you can speak with former clients to get a true picture of what the experience with the builder was like. 

<ol>
<li value="3">Review past projects</li>
</ol>
Have a look at other projects they have completed. Are they high quality? Have there been any defect issues? 

<ol>
<li value="4">Check credit reports and ASIC listings</li>
</ol>
By checking credit reports and <a href="https://asic.gov.au/">ASIC</a> listings, you will be alerted to any debt issues and will uncover any phoenixing behaviour. 

<ol>
<li value="5">Work with a building broker</li>
</ol>
A building broker will undergo a more extensive due diligence process to help you select the right builder. They will have a panel of vetted and accredited builders to choose from and can match you with the right builder for your project. They can also help you avoid any hidden fees or costs and ensure the contract is sound. The service is free for the consumer. 

The last thing consumers need is <a href="/guides/how-to-buy-a-house-in-2021-a-guide-for-first-time-home-buyers">selecting</a> the wrong builder and seeing money and time go down the drain. This can potentially cancel out the financial value of the HomeBuilder grant completely. By doing your due diligence you can make sure you have a trustworthy and quality builder working on your HomeBuilder project and achieve a much better outcome for your building project.
</body></html>

How to Select a Quality Builder for Your HomeBuilder Project

Open homes are an integral tool for <a href="/guides/how-much-does-it-cost-to-sell-a-house-or-apartment">selling</a> a property. They allow the potential client to personally experience the property which may become their new home or investment property.

There are definite benefits of <a href="/guides/home-inspection-checklist-step-by-step">opening a home</a> for inspection. These include:

<ul>
	<li>Allowing serious buyers to have a second and more informal look at the property</li>
	<li>Facilitating buyers to compare and contrast to other properties in the area</li>
	<li>Choosing the perfect time for your home to be viewed.&nbsp;</li>
</ul>

While open homes can help you get the best price for your client, they can also be disastrous if proper legal considerations, particularly <a href="https://www.finder.com.au/home-insurance/best-home-insurance">insurance</a> are not considered.&nbsp;

Insurance

The single, most important aspect to consider when you are <a href="/guides/home-inspection-checklist-step-by-step">opening a home</a> for inspection is insurance.&nbsp;

<ul>
	<li>Would you ever leave your clients' property unlocked to allow a stranger to pass through and look around?&nbsp;</li>
	<li>Would you allow random people to open your client’s cupboards and drawers?&nbsp;</li>
</ul>

Well, with open home, you are not only leaving the door unlocked, but you are also permitting strangers to peruse the drawers and cupboards. Without the proper and essential insurance, you have not protected yourself or the property from loss and harm.&nbsp;

In some cases, the open home takes place after the seller has vacated the property. Once the seller has vacated, it is probable that they have canceled their home and contents insurance. This means that if someone steals something valuable from the home, the seller’s insurance will not cover them for the loss.&nbsp;

It is also important for you to consider whether to have <a href="https://www.finder.com.au/business-insurance/public-liability">public liability</a> insurance in case an accident occurs in the duration of the open home.&nbsp;

The danger of opening a home

<a href="/guides/home-inspection-checklist-step-by-step">Opening a home</a> for public viewing can be dangerous and cause an agent or seller to gain liability in 3 key ways.&nbsp;

Firstly, something may break or someone steals an item from the open house. Secondly, someone may fall over and hurt themselves. Finally, thieves may use the open home as an opportunity to scope out the property for theft at a later time.&nbsp;

While the last possibility seems far-fetched, it has happened before and unfortunately, if a home is opened for public inspection, it is exceedingly difficult to predict and prevent these issues. In the following two sections, we will consider the first two issues: how these can be prevented and who will be liable if they eventuate.&nbsp;

Theft or breakage during open homes

Most home and contents insurance policies cover the insurance holder for loss and damage caused by theft. However, one of the conditions which exist on almost all of these policies is that of leaving windows or doors unlocked, hence allowing thieves unforced entry.&nbsp; This clause will either completely cancel out your claim or will decrease the payout by the insurer.&nbsp;

It is highly likely that allowing guests at the open home, who later turn out to be thieves, will void the insurance policy that the seller holds.&nbsp;

Real-life example

An owner, who we call Susan* was showing an open home. It was the early 1990’s, so at the time, ducted air conditioning units were very new and expensive. During the open home, one of the viewers stole the unit. In this case, luckily, the seller’s home and contents insurance was still valid and covered most of the cost of purchasing a new unit. It did take some negotiation with the insurance company as they claimed that the house was left open and hence, they should not be responsible. However, the seller and their insurance company settled on an amount that covered most of the cost of the new unit.&nbsp;

Slip and fall accidents

‘Slip and fall’ accidents are a term used to describe the kinds of accidents where someone slips or falls on someone else’s premises. An open home is full of potential occupational health and safety hazards that could cause a slip or fall.&nbsp;

The first step is to identify the hazards and the next step is to fix them before the open home. It is better to avoid an accident then deal with the result of an accident.&nbsp; Potential hazards include ripped carpet, changes in floor level, poor lighting, cracked concrete, wet floors and narrow stairs. If there is a hazard that cannot be fixed prior to the open home, then agents can place signs to warn visitors of dangers. For example, if there is a small step between the carpeted bedroom and the tiled ensuite, you could place a “Watch your step” to warn visitors.&nbsp;

There is only so much that can be done to prevent these types of accidents during an open home, so who will be liable if an accident does occur?&nbsp; The answer to this is that the seller or the real estate agent may be liable depending on how the slip or fall unfolded.&nbsp;

In ascertaining liability for slip and fall claims, the following will need to be proven:

<ol>
	<li>The person or company at fault owed a duty of care, and</li>
	<li>The person or company failed to take this case, and</li>
	<li>The injured person was hurt or suffered a loss.</li>
</ol>

The person or company who is found to have owed a duty of care can be found liable for slip and fall accidents.&nbsp;

Key Tips when considering Open Homes

Understand the risks associated with an Open Home and act accordingly.&nbsp; Check with your <a href="/industry-news/how-are-real-estate-agents-assisting-during-the-covid-19-crisis">Real Estate Agent </a>on how they manage the risks outlined in this article.&nbsp; Check your contract with the Agent to ensure who is liable if an issue arises.&nbsp;&nbsp;

Prepare your home and remove any potential hazards that you are aware of prior to the event.&nbsp; Let your insurer know that you are having an Open Home and ask them for advice to prepare your home.&nbsp;&nbsp;

One piece of advice, while it is enticing it is not advisable to be at your open home as you will not be able to prevent yourself from scrutinising the potential buyers.&nbsp; In addition, those pesky neighbours come by and of course, they will bust your cover.&nbsp;

*Susan is not her real name.

Legal considerations during open homes to keep in mind

<html><body>
<a href="/guides/2019/06/17/urbans-first-home-buyer-guide">First home buyers</a> often consider <a href="/developments/sydney-nsw">Sydney</a> as overpriced and not an affordable location to purchase property. However, in the current market, this is not entirely true. If you are eligible for the <a href="/news/everything-you-need-to-know-about-australias-25-000-homebuilder-grant-how-much-off-the-plan-homebuyers-could-save">State and Federal Government Grants </a>now available, you can save up to $57,432*!  Hence, it is now the time to strike while the iron is hot by focusing, reviewing and taking advantage of the outstanding grants and <a href="/expert-insights/buying/why-axing-stamp-duty-will-help-everyone">stamp duty</a> concessions accessible to first homeowners.

The First Home Owner Grant of $10,000 has been available since the 1st of January 2016 and is ongoing, however, the $25,000 <a href="/expert-insights/buying/home-building-grant-to-benefit-affordable-areas-and-first-timers">Home Builder</a> boost is set to expire on the 31st of December 2020.

In relation to Stamp Duty savings and concessions for first homeowners, they are state-based and thus, vary. In the example below we will review New South Wales (NSW) specifically:

<ul>
<li>$350,000 maximum purchase price land only -$350,001 - $450,000 concessional discount</li>
</ul>
<ul>
<li>$650,000 maximum purchase one contract - $650,001 - $800,000 concessional discount</li>
</ul>
NSW First Home Owner Grant 

The First Home Owner Grant for <a href="/new-apartments/nsw">new homes</a> has been established for any purchase on or after the 1st of January 2020. If you are buying or building a new home, you may possibly qualify for the $10,000 grant. It is offered for the following purchases; however, you must meet the <a href="https://www.revenue.nsw.gov.au/grants-schemes/previous-schemes/first-home-owner-grant">other eligibility criteria</a>:

<ul>
<li>Newly constructed home or a substantially renovated home with a total value less than $600,000</li>
	<li>Land for building and house packages you intend to build has a combined value of less than $750,000.</li>
</ul>
What do you need to do?

The first step on your homeownership journey is to speak with a finance broker and find out your maximum borrowing capacity. If you have been overspending on credit or debit cards, now would be a good time to stop as lenders will review the last 3 months' statements on all cards. They will base your <a href="/guides/how-much-can-i-borrow-for-a-new-home">borrowing capacity</a> on the following factors and may even request further information:

<ul>
<li>Employment length with your employer</li>
	<li>Gross Income excluding super</li>
	<li>Savings/cash or shares</li>
	<li>Assets</li>
	<li>Liabilities such as:
	<ul>
<li>Personal loans</li>
		<li>Car loans</li>
		<li>Leases</li>
		<li>Streaming subscriptions (Netflix, Stan etc.)</li>
		<li>Gym membership</li>
		<li>Food</li>
		<li>Utilities </li>
		<li>Medical Insurance</li>
		<li>Entertainment</li>
		<li><a href="/expert-insights/buying/how-your-uber-eats-and-afterpay-habits-could-derail-your-home-loan-application">Food delivery services (Uber Eats etc.)</a></li>
	</ul>
</li>
</ul>
What would the grants and concession mean for you?

If you purchase the right type of property you could save tens of thousands of dollars in cash grants and stamp duty concessions. Based on a $600,000 purchase in NSW, the stamp duty saving alone would be $22,432. If you could access the $25,000 Home Builder boost and the $10,000 First Home Owners Grant, combined that would save you $57,432*.  The question is, how long would it take you to save that amount of money?

For example, if you saved $200 per week it would take you about 287 weeks to save that amount or just over 5 ½ years!

Although your first home may not be your dream home, think of it as a stepping stone for your future. Think of the benefits of receiving these grants and consider the questions below as you plan your future:

<ul>
<li>Where can I purchase my own home?</li>
	<li>Can I afford to do this?</li>
	<li>Am I eligible for the grant, rebates, and concessions?</li>
	<li>How much can I borrow?</li>
	<li>How much savings do I require?</li>
	<li>What time frame do I have?</li>
</ul>
With that being said, the window of opportunity is very narrow, so it is time to take advantage of these grants and become a property owner.
</body></html>

The Time has Come for First Home Owners to Join the Property Ladder

<html><body>
The summer of 2019-20 was the second hottest on record in Australia, with temperatures 1.88C above average, just below the previous year’s which was 2.14C above average, according to the Bureau of Meteorology.  The intensely hot summer alongside the unprecedented <a href="/news/how-to-protect-yourself-against-bushfire-smoke">bushfire</a> disaster which devastated many communities and wildlife across the nation Regional settingswas part of a long-term warming trend since 1910. 

The majority of Australians are very much aware and concerned about how <a href="/news/a-greener-future-green-building-council-australia-discuss-climate-change">climate change</a> is affecting their lives, and for those looking to purchase property, this concern is being translated into the sustainability features and attributes buyers are seeking today.

In a competitive market, buyers are spoilt for choice in the types of properties available such as detached homes, townhouses, apartments, villa units, house-and-land packages etc. Considering property is a major financial commitment, buyers are seeking investment for the long-term and sustainability is becoming <a href="/news/hip-v-hype-director-of-projects-katya-crema-discusses-sustainable-property-development">‘the new luxury’</a>.  Hence, in the already-choppy economic waters of 2020, this aspect is increasingly setting some property developments above their competition.

On a global scale, sustainable property investments have developed from a niche concern to a mainstream product for new real estate developments over the past decade. Green buildings represent a significant share of global development projects and are expected to further grow.

How is Sustainability Measured?

Energy ratings are the best way for consumers to understand a building’s energy efficiency performance. The Nationwide House Energy Rating Scheme (NatHERS) is the official national rating system in Australia that provide the star rating for all new buildings and used for regulatory purposes through the National Construction Code (NCC). Ratings are conducted by an accredited assessor and issued in the form of a NatHERS certificate with a star rating of between 1 and 10. 

What is Assessed for a 6 Star Energy Rating?

The star rating is determined by the amount of energy required by the building to heat and cool year-round. Thus, the higher the rating, the more efficient the building is. Since 2010, a 6-star minimum efficiency rating has been the standard across most states in Australia. In order to achieve the 6-star energy rating and all other forms of assessments, the following key elements are considered in assessing a building’s thermal performance:

<ul>
<li>Location</li>
	<li>Orientation</li>
	<li>Building resources and materials</li>
	<li>Window specifications and glazing</li>
	<li>Insulation</li>
	<li>Roof and wall colours</li>
	<li>Ventilation</li>
	<li>Ceiling fans</li>
	<li>Lighting</li>
	<li>Floor coverings</li>
</ul>
Buyer Awareness of Sustainability Features

As a property and wealth creation professional, I find my clients are now <a href="/guides/20-things-you-should-look-out-for-before-you-buy-property">proactively asking</a> about the materials used and the energy rating of properties being considered. Property is a major purchase decision regardless of income level, and buyers understand that running costs over the property’s life cycle are a factor that needs consideration before purchasing. If planning to live in the home, these costs translate to a significant direct saving on utility bills every year or if an investment purchase, reduced electricity/gas/water bills are a strong incentive to entice tenants.

The properties I seek out are often NatHERS 7.5 star rated and offer that desirable edge of sustainable luxury. This means they have additional features over and above the most common, such as:

<ul>
<li>Energy Recovery ventilation (EVR) to maintain superior air quality</li>
	<li>5 Star water efficiency in all appliances</li>
	<li>Solar electricity systems which can generate the property’s entire electricity needs </li>
	<li>Specialised gas storage systems to minimise the use of gas</li>
	<li>Battery charging stations for electric vehicles</li>
	<li>Motion sensors to reduce unnecessary lighting cost</li>
	<li>Biophilic design such as green living walls, blended indoor and outdoor spaces, greater use of natural materials </li>
</ul>
One upcoming project by Barwon Water is Salt Torquay which is the first estate located in regional Australia to be recognised as a One Planet Community, a <a href="https://www.bioregional.com/one-planet-living">globally recognised leadership program</a> based on 10 simple principles that enable organisations to plan for, deliver and communicate sustainability.

‘Brown Discounts’ may be coming

Consumers increasingly understand that there are existing properties without any star rating which mean colder winters, hotter summers, more expensive utility bills and less comfort all-round. The average home built in the 1990s had an equivalent energy rating of 0 due to homes not having any ceiling insulation or many other of today's’ standard features.

I think it is likely that some of these properties will not be considered ‘future-proof’ and will successively fall behind when competing for buyers and investors in the mid to long-term future. 

What I expect for those properties is that savvy buyers will demand a discount for the lack of sustainability features and/or compliance with current energy requirements. This is sometimes referred in the as a ‘brown discount,’ a great contrast to a ‘green premium.’

Short-Term Pain for Long-Term Gain

From the perspective of owners and investors, sustainability costs are not immediately equal with resulting energy savings. In other words, energy-saving measures require significant one-off capital expenditures which must be borne by developers in building costs initially, then owners and investors prepared to pay a premium for quality, but the resulting reduction of operating costs will certainly pay off over time.

Following this summer’s global warming wakeup call with increased temperatures resulting in unprecedented bushfires, coupled with escalating utility costs, the choice of ‘sustainable luxury’ is one I expect more buyers to be making. 
</body></html>

Sustainability: The New Luxury for Property Buyers in 2020

<html><body>
Sitting in a classroom as a 16 year old, unaware that nearly 2 decades later I’d be running a substantial architecture and design studio, I came to understand that in mathematics there is a solution to every problem. 

I was told that if we continue to work at the problem, we will eventually arrive at the equation that leads to the solution. So I did, I maintained a focus on the solution and eventually excelled in maths as I began to understand the logical approaches to each problem. With practice, the logic became simpler and the solutions more readily apparent. 

This initial exposure to problems and solutions was a firm foundation for my approach to architecture and design. Every project presented its problems and our job was to find a fitting solution for each one. In a sense, as designers, we thrived on understanding and working with the problems presented. A blank canvas led to a design process that was unconstrained and frustratingly difficult. 

2020 has been a year of challenges. From the national bushfires that devastated many communities to the global <a href="/expert-insights/buying/covid-19-and-the-pathway-forward-for-property">COVID-19 pandemic,</a> we found ourselves immersed in a sea of problems. The outlook seemed grim and it was easy for us to be drawn to focus on those problems and subsequently end up in stress, worry and anxiety. 

In the property sector, we saw cities changing overnight, with <a href="/guides/covid-19-is-it-possible-to-practise-social-distancing-at-home-absolutely">physical distancing</a> measures and a pervasive fear amongst the community. Stadiums and arenas were left desolate, retail stores closed, airports bare, restaurants shut and offices emptied. All these occurrences had resounding effects on our <a href="/expert-insights/buying/how-will-the-coronavirus-impact-australia-s-property-market">property</a> ecosystem. Landlords and asset owners faced the chopping block as the operating climate shifted radically right in front of their eyes.

Acting on instinct most of us sought to subscribe to security in order to prolong survival. Landlords extended leases with favourable terms, only to create long-term pressure on <a href="/guides/how-to-ensure-financial-return-on-your-property-investment-in-15-simple-steps">investment returns</a>. Businesses cut staff to reduce costs and extend their lifespan. Individuals took pay cuts only to consign their hopes and dreams to oblivion. All these adjustments sustained the possibility (but no guarantee) of survival but left most in far worse circumstances than before. We found ourselves in bloodbaths of undercutting and devaluation for the vague promise of survival, a spiraling race to the bottom.

As a business leader, I entered this strange period with panic. We looked at ways to cut costs and ways to retain our pipeline. March 2020 was an exhausting month of anxiety-fuelled struggle to survive. Things seemed to be slipping out of our control as situations worsened. We started counting down our days. 

Melbourne CBD empty, but that's starting to Change..

However, during this period of enforced ‘time-out’ I came to the realisation that maybe, if business was like a game of cards, even though the cards I held were the same, the game had changed. But the value of each card in my hand was now different, as the rules of the game flipped mid-stream. 

So, I started to re-evaluate those cards against the new game rules and realised that, just like a math equation, we could solve the problem in many ways as long as we focused on the solution.

As we navigate the unpredictable times ahead, I look back at the challenges mankind has faced over time and to the resilience of humanity. I remember and understand how we surmounted multiple <a href="/news/covid-19-how-the-world-previously-recovered-from-sars-and-whether-or-not-we-can-do-the-same-this-time-round">crises</a> and downturns, and how, amid a myriad of problems and challenges, agile minds among us always came up with solutions to help us edge ahead. 

The questions we face are vast and mostly impossible to answer. But we can move ahead irrespective of circumstances, and continue to grow, if not vertically then sideways. We can continuously shift, adapt, and evolve. And in doing so, we can inject meaning along the way, help communities endure through the challenges, and lead through <a href="/expert-insights/buying/covid-19-a-little-bit-of-positivity-goes-a-long-way">positive</a> influence.
</body></html>

Solutions for our Post-Pandemic Lives

<html><body>
The new Federal Government <a href="/news/everything-you-need-to-know-about-australias-25-000-homebuilder-grant-how-much-off-the-plan-homebuyers-could-save">HomeBuilder grant </a>is set to ignite affordable locations and further help first-timers across the nation. The program will be of huge assistance to the construction sector over the next six months, which is good news for everyone given the industry’s importance to the overall health of our economy. The eligibility criteria of the scheme, including maximum income and purchase price limits, means that it will likely benefit <a href="/guides/2019/06/17/urbans-first-home-buyer-guide">first home buyers</a> as well as buyers in more affordable areas the most.

<h2><a href="http://www.firsthome.gov.au/">First Home Buyer Incentive</a></h2>

The HomeBuilder grant program will provide $25,000 for the construction of a new property, which for first home buyers will be additional grant funds to what is already available. 
In most states, there are First Home Owner Grants for the construction of new homes already in place. 
In NSW, it is up to $10,000, in Victoria, the grant is up to $20,000 (depending on the location) and in Queensland, it is $15,000.

So, a quick calculation shows that first home buyers could receive up to about $35,000 to $45,000 between the two grants depending on which state they live in and where they buy. On top of that, most states have stamp duty concessions for first home buyers, which sees them paying no, or a greatly reduced transfer fee. 
Plus, there is the existing <a href="https://www.nhfic.gov.au/what-we-do/fhlds/">First Home Loan Deposit scheme </a>that provides deposit guarantees for first home buyers who have a deposit size as low as 5% of the purchase price. This scheme means that first-time buyers don’t need to pay the Lenders Mortgage Insurance which is another significant saving for them. 
So, with all of these schemes and incentives bundled together, it’s fair to say now is the best time to be a first-time buyer in a very long time! However, like any significant financial decision, it is imperative that they access expert advice before proceeding with a property purchase. That’s because it is a long-term financial commitment that could have negative implications if they select the wrong location or construct an inferior dwelling type.

<h2>Affordable Areas Set to Shine</h2>

All the various grants outlined above, including the HomeBuilder program, have one thing in common: you and the maximum purchase price, which is $750,000. 
In some cities, like Sydney and Melbourne, that won’t buy you much real estate anywhere close to the city, but in others, such as Brisbane, it will. However, in the outer-ring and regional areas where property prices are more affordable the numbers change and with it so do the opportunities. With the maximum price point for the HomeBuilder program set at $750,000, I believe it will be the more affordable areas that will benefit the most. 
My picks in Sydney would be the west and south-west, as well as the Hunter region. 
In Victoria, areas such as Geelong, Ballarat, as well as Melbourne’s western and south-eastern suburbs, are set to strengthen from this new activity and demand. 
In Queensland, where affordable property is almost its middle name, the outer-ring suburbs of Brisbane such as the Logan, Moreton Bay and Ipswich regions are on track for good times.

But so is the Sunshine Coast, where there is a huge number of major infrastructure projects underway already. 
At the end of the day, the HomeBuilder program is designed to stimulate a major part of our economy but the by-products of it will be that more people will become property owners as well as improved market conditions in myriad affordable locations. 
</body></html>

Home Building Grant to Benefit Affordable Areas and First-timers

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more internation and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

Vivian Nguyen

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News