<p>An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.</p>

<p>The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.</p>

<p>The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.</p>

<p>Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" /></p>

<p>It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.</p>

<p>The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." /></p>

<p>Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.</p>

<p>&nbsp;</p>

<p>At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.</p>

<p><img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" /></p>

<p>The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.</p>

<p>The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.</p>

<p>Rebel had secured approval for the concept plans late last year.</p>


Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

<p>A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.</p>

<p>The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" /></p>

<p>Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.</p>

<p>At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" /></p>

<p>The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.</p>

<p>Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.</p>

<p>The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.</p>

<p><img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" /></p>

<p>The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.</p>

<p>Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.</p>

<p>Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.</p>


Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

<p>Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.</p>

<p>The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.</p>

<p>One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278194]</p>

<p><a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.</p>

<p>"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.</p>

<p>"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278196]</p>

<p>The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.</p>

<p>PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.</p>

<p>"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;</p>

<p>"Every apartment was to feel considered, timeless, and highly functional."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278195]</p>

<p>Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.</p>

<p>Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.</p>

<p>The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.</p>

<p>"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.</p>

<p>"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278204]</p>

<p>Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.</p>

<p>Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.</p>

<p>[smartcode_project_cta:default project_id=7395]</p>


Juliet to sit quietly amid Roseville apartment boom

<p>Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.</p>

<p><a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.</p>

<p>The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370959]</p>

<p>“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.</p>

<p>The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370964]</p>

<p>“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.</p>

<p>“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=371430]</p>

<p>Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.</p>

<p>Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.</p>

<p>The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.</p>

<p>LPS Group is expected to start construction later this year.</p>

<p>Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

<p>Are mortgage holders set to get a reprieve from the RBA in 2026?</p>

<p>Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.</p>

<p>NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.</p>

<p>“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.</p>

<p>"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.</p>

<p>Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.</p>

<p>“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”</p>

<p>Dr Auld said inflation risks and labour market outcomes would be important to watch.</p>

<p>“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”</p>

<p>She said tighter financial conditions are expected to weigh on housing and activity.</p>

<p>“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”</p>


Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

<p>Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.</p>

<p>From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;</p>

<h2>What is the Help to Buy Scheme?</h2>

<p>The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.</p>

<p>The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).</p>

<p>Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.</p>

<p>Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.</p>

<p>The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.</p>

<p>There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.</p>

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

<p>To qualify for the Help to Buy Scheme, applicants must meet the following conditions:</p>

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

<p>While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.</p>

<p>The scheme is expected to commence in NSW in late 2025, as part of a national rollout.</p>


Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

<p>The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.</p>

<p>While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.</p>

<p>It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.</p>

<p>Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.</p>

<h2>New South Wales First Home Owner Grant</h2>

<p><strong data-end="252" data-start="225">First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.</p>

<p><strong data-end="413" data-start="389">Stamp Duty Benefits:</strong> Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.</p>

<h2>Victoria South Wales First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.</p>

<p><strong>Stamp Duty Benefits</strong>: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.</p>

<h2>Queensland First Home Owner Grant</h2>

<p><strong data-end="920" data-start="893">First Home Owner Grant:</strong> Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.</p>

<p><strong data-end="1162" data-start="1135">Stamp Duty Concessions:</strong> Provides additional concessions for properties valued up to $800,000.</p>

<h2>Western Australia First Home Owner Grant</h2>

<p>&nbsp;</p>

<p><strong>First Home Owner Grant:</strong> Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.</p>

<p><strong>Stamp Duty Concessions:</strong> Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.</p>

<h2>Australian Capital Territory First Home Owner Grant</h2>

<p><strong data-end="1617" data-start="1590">First Home Owner Grant:</strong> Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.</p>

<h2>South Australia First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.</p>

<p><strong>Stamp Duty Relief:</strong> Available for new homes and vacant land purchases.</p>

<h2>Tasmania First Home Owner Grant</h2>

<p><strong>First Home Owner Grant</strong>: Offers a $10,000 grant for new homes and off the plan purchases.</p>

<p><strong>Stamp Duty Exemption</strong>: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.</p>

<h2>Northern Territory First Home Owner Grant</h2>

<p><strong>First Home Owner Grant:</strong> The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.</p>

<p><strong>Stamp Duty Exemption</strong>: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).</p>

<p><em>Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.</em></p>


Every First Home Owner Grant for new property by state

<p>In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.</p>

<p>Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.</p>

<p>Some systems assess individual building components, while others provide an overall rating for the entire structure.</p>

<p>A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.</p>

<p>NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.</p>

<p>As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.</p>

<h2>What is NatHERS?</h2>

<p>NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;</p>

<p>NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;</p>

<p>NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.</p>

<p>The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.</p>

<h2>How NatHERS Ratings Work</h2>

<p>NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.</p>

<p>The tools can model complex effects of building mass, insulation, window size, and other elements.</p>

<p>The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.</p>

<p>The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;</p>

<p>Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.</p>

<p>Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.</p>

<h2>Benefits of Higher NatHERS Ratings</h2>

<p><strong>Energy Efficiency:</strong> Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.</p>

<p><strong>Cost Savings:</strong> Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.</p>

<p><strong>Environmental Impact:</strong> Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.</p>

<p><strong>Improved Comfort: </strong>Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.</p>

<p><strong>Market Value and Desirability:</strong> Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.</p>

<p><strong>Compliance with Building Codes:</strong> NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.</p>


The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

<p>Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.</p>

<p>Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.</p>

<p>Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.</p>

<h3>Convenience and accessibility</h3>

<p>Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.</p>

<p>[smartcode_project:default project_id=114215 project_image_fid=204874]</p>

<p>The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.</p>

<h3>Vibrant lifestyle and community</h3>

<p>One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.</p>

<p>[smartcode_project:default project_id=107714 project_image_fid=214122]</p>

<p>The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.</p>

<h3>Potential for higher rental yields and property value appreciation</h3>

<p>Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=212887]</p>

<p>The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.</p>

<h3>Enhanced security and maintenance</h3>

<p>Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.</p>

<p>[smartcode_project:default project_id=108019 project_image_fid=212658]</p>

<p>Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.</p>

<h3>Live-work-play balance</h3>

<p>One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.</p>

<p>The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.</p>


alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

<p style="line-height: 1.38;">When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.</p>

<p style="line-height: 1.38;">Often the largest outlay, after the deposit which goes to the bank, is stamp duty.</p>

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

<p>Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.</p>

<p>It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.</p>

<p style="line-height: 1.38;"><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe></p>

<h2>Who pays Stamp Duty?</h2>

<p>In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.</p>

<h2>How much does Stamp Duty cost?</h2>

<p>Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.</p>

<p>You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!</p>

<p>Overall, the stamp duty you need to pay will depend on:</p>

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

<p style="line-height:1.38">Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.</p>


Ellen Walker

Off-the-plan property explained: What is stamp duty?

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<p>The Killarney Vale couple Kara and Kyal Demmrich – contestants on Channel Nine's <em>The Block</em> Albert Park series – have bought again on the NSW Central Coast.</p>
<p>Their new home is a cottage at Bateau Bay in the Wyong municipality that cost $580,000, with the prize money they earnt coming in handy. </p>
<div id="description" class="stackItem">
<p class="body">It is an original cottage,<a href="https://www.realestate.com.au/property-house-nsw-bateau+bay-117226003" target="_blank"> </a>with a north facing front yard on a level 639 square metre block, within easy walk to Shelly and Blue Lagoon Beaches. <span style="line-height: 1.3em;"> </span></p>
</div>
<p>They sold this week for $735,000 at Killarney Vale, which is five ams away from their next project.</p>
<p>They bought, then renovated their first home in 2008 having paid $285,000, after getting married in February 2007.</p>
<p><span style="line-height: 1.3em;">Agent Chantel Laing-Chadwick at George Brand Real Estate Avoca Beach/Copacabana described their recently sold house as an "architectural masterpiece".</span></p>
<p><span style="line-height: 1.3em;">Last year the couple appeared in</span><em style="line-height: 1.3em;"> The Block: Fans v Faves</em><span style="line-height: 1.3em;"> as the so-called Super Ks.</span></p>
<p>Around the time of the April Albert Park auction, the couple indicated they were planning to launch a boutique renovations company called Diverse Design and Construct.</p>
<p>The couple also suggested they were considering a move from their home in the Tuggerah Lakes precinct.</p>
<p>“We haven’t thought about it too seriously, but our long-term goal is to get ourselves as close to the coast as possible. So we’re thinking about selling, maybe in the next 12 months," Kyal told <em>Property Observer</em>.</p>
<p>The Super Ks were given the highest reserve of any apartment – $1.9 million – after a stellar number of winning challenges and room reveals.</p>
<p>But they finished third behind Steve and Chantelle and Alisa and Lysandra on auction day.</p>
<p>They indicated they could pay off the mortgage with their $567,250 in prize money.</p>
<p>Bateau Bay's médian house price sits at <a href="/news">$500,000</a>, record levels, while Killarney Vale's median house price likewise tav record levels, but <a href="/news">$375,000</a>, according to CoreLogic RP Data.</p>
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jchancellor-FAypfDUnLy

The Block's Kyal and Kara buy at Bateau Bay and sell first home

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<p><span>Talk in the industry is about whether or not house prices are in a bubble, if so have we been in one for some time and is it expensive bubble or a seriously expensive one?</span></p>
<p><span>One quote I read recently in relation to the current housing market was "One thing seems clear: If we’re having a discussion about whether or not house prices are in a bubble (as we have been for some time now), house prices do not represent good value at the current level. The debate is about whether they are expensive, or seriously expensive."</span></p>
<p><span style="line-height: 1.3em;">Now, of course we're all guilty of making sweeping comments - and myself more than most given my tendency towards a macro focus on this blog - but this snippet gives the full broom treatment to Australia's property markets.</span></p>
<p><span style="line-height: 1.3em;">The last time I checked in at the back end of 2014 there were 9,448,300 dwellings in Australia, a figure that will be approaching 9.5 million or so today. </span><span style="line-height: 1.3em; font-weight: bold;"> </span></p>
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<div><span style="line-height: 1.3em;">Are some of those dwellings expensive? Indeed, and some of them are extraordinarily so in the present and persistent low interest rate climate.</span></div>
<div>
<div> </div>
<div>But equally, aren't some house prices very cheap? Very much so - in outer suburban Adelaide and Hobart, for example, and in any number of regional centres - although of course, "cheap" does not been good value ("cheap today is cheap tomorrow" as the old real estate mantra goes).</div>
<div> </div>
<div>The same holds true of share prices and indices, for that matter.<br><br>Are some share indices and stocks trading at high valuations? Yes. In fact, globally some markets are romping ahead to dizzying heights as I looked at only earlier this week.</div>
<div> </div>
<div>That does not mean that some individual stocks don't offer great value, though, particularly for those investors with the requisite skills in fundamental analysis.<br><br>With the benefit of hindsight, although not my favourite sector due to being capital intensive and reliant on the sale of commodities, 1999 was a great time to buy resources stocks. 2009 was an amazing time to load up on bank shares.  Today, health care and materials companies are worthy of consideration.</div>
<div> </div>
<div><img src="/images/2015/05/22/wargent2.gif" alt=""></div>
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<div> </div>
<div>
<div>Of course, this doesn't mean all companies in a sector are worth buying, or even any of them. There is no "one size fits all."</div>
<div> </div>
<div><strong>Focus</strong></div>
<div> </div>
<div>This was one of a raft of pieces of late referencing popping property bubbles, property speculators, the end of the property boom, shares now being due to outperform property, and so on.</div>
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<div>All fair enough, although the truth is that ex-Sydney (and to a lesser extent Melbourne) there hasn't actually been a property boom to date in this cycle, rather a protracted period of relatively flat prices in real terms, and correspondingly there is no "Australian property bubble".<br><br>Resources influenced Perth and Darwin are seeing declining rents, the polar opposite of frothy conditions, while a number of mining towns have already capitulated. Canberra's property markets seem similarly uninspired.</div>
<div> </div>
<div>Why so much angst from equities-only investors then, one wonders, apart from the wider ramifications for the Australian economy and share markets of a genuine and material property correction?</div>
<br><div>An obvious point from a fundie perspective is that more funds under management equals more fees, so naturally enough does make sense to point out from time to time the benefits of a diversified share portfolio over the risks of holding a specific investment property or portfolio of properties.<br><br>I'm not sure whether it makes a great deal of difference, though. In my experience there exists a fair proportion of investors who are simply "shares people" or "real estate" people, and they won't ever be budged either way!<br><br><strong>Stock valuations decline</strong>
</div>
<div> </div>
<div>Perhaps another of the reasons for the angst is that the Australian share markets (generally!) have been on the receiving end of a bit of a shellacking over the past month, which naturally the financial media reports unfailingly on a daily basis.</div>
<br><div>Since threatening to crunch through 6,000 on March 18 the market has tanked, paring all the way back down to 5,600.<br><br>6,000 now seems like a distant dream once again, although the recent dovish Board Minutes from the Reserve Bank reinstated a moderate easing bias, which may help to fire markets up again.</div>
<div> </div>
<div>Now as intelligent people both you and I know that such short term movements don't mean a great deal for stock market investors with a long term mindset.<br><br>In fact, cheaper market prices equates to a greater array of buying opportunities for those with an appropriately disciplined investment approach.</div>
<div> </div>
<div>But it's funny what daily media headlines can do to folk, particularly when Sydney house prices are suddenly once again rising at an annualised pace of somewhere north of 15%. </div>
<div> </div>
<div>The XJO (ASX 200) chart shows that this index has pulled back to the same level as the beginning of March 2007, well over eight years ago.</div>
<div> </div>
<div><img src="/images/2015/05/22/ASX.jpg" alt=""></div>
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<div>While experienced investors are well aware that accumulated returns inclusive of dividends have been robust, a good proportion of Mum and Dad investors tend to like to see capital gains, preferably of the fast buck variety.<br><br><strong>Sydney property leads cycle</strong>
</div>
<div> </div>
<div>What seemed to be a highly unlikely outcome for much of the past decade is now once again becoming a reality - Sydney houses selling for double what they did during their last cyclical low around 2005.</div>
<div> </div>
<div>Granted I have only come across a few such examples to date, all of them houses rather than apartments, and usually in popular beachside suburbs such as Bondi, but I expect this will become an increasingly common occurrence over the year ahead.</div>
<div>
<br>Of course, the main advantage that property investors have over share market investors is the use of leverage which can magnify gains...and losses.</div>
<div> </div>
<div>An investment which doubles in value can see the dollars invested increased 10 or 20 fold before transaction and holding costs - for those who get it right and are prepared to hold through the lean periods of the cycle.</div>
<div>
<br>Dare we even mention it, some folk even used 100 per cent leverage in the period leading up the the financial crisis, making the returns on "investment" extraordinarily high.<br><br><strong>Risks to the downside</strong>
</div>
<div> </div>
<div>There is an old saying in investment that if something sounds too good to be true then it probably is.<br><br>So, what's the catch? </div>
<div> </div>
<div>One such catch is that most people just aren't very good at investing in property. The stats show that most don't achieve their goals, owning only one or two properties, with many selling within the first early years of ownership.</div>
<div> </div>
<div>It's not always entirely their fault, mind - property advisers have recommended some desperate choices over the last decade, including mining towns and any number of far-flung locations which haven't fared anything like as well as Sydney has. </div>
<div> </div>
<div>It was popular for a while to say that capital city investors were singing the same old tune from years ago and had failed to move with the times, though I haven't heard anyone saying that of late as the Sydney market continues to take off.<br><br>Inner ring Brisbane is now seeing prices rising again too, though not for all property types and suburbs it must be said, and I believe that generic apartments will struggle through this cycle.</div>
<div> </div>
<div><strong>Spruikfest</strong></div>
<br><div>You only had to set foot in the <em>Sydney Homebuyer Show</em> this year to see that the property forum was packed to the rafters with the flocking crowds far outweighing the numbers at the share trading and investing event.</div>
<div> </div>
<div>This is what always happens when house prices are rising, of course.</div>
<div> </div>
<div>Unfortunately so too were the self managed superannuation fund (SMSF) property spruikers out in force, barking orders about setting up trust structures to buy property to anyone who would listen - and anyone who wasn't listening as well, come to think of it.</div>
<div> </div>
<div>The thing to remember is that property and shares are not really directly comparable investments for any number of reasons which I don't have the space or inclination to repeat here.</div>
<div> </div>
<div>Equities are a far "cleaner" and more liquid asset class, very well suited to retirees of the right mindset contrary to popular opinion, particularly given the favourable tax treatment of franked dividend income in Australia.<br><br>No tenants or related headaches. No repairs and maintenance bills, Quick and easy to sell parcels of shares. </div>
<div> </div>
<div>Property investment suits many long term Mum and Dad investors, despite its illiquidity, and the leverage can see them magnify gains (or losses) at a greater rate, provided they invest well (or badly).</div>
<div> </div>
<div>For reasons I never really got my head around some property advisers have recommended investing in towns where there is acres of land around and thus no scarcity. </div>
<div> </div>
<div>The key to long term successful property investment is finding an asset which is in extremely high demand.<br><br>This generally means the larger capital cities, near jobs and where people want and need to live - and is scarce in supply, which ideally means a dwelling with a land value content, and in a land-locked suburban location.<br><br>The long run data shows that even most average capital city property has generally done well through the cycles, beating inflation over time.<br><br>It won't be long before the Sydney median house price has doubled again since 2003, soon thereafter to be threatening the $1 million level.</div>
<div> </div>
<div><img src="/images/2015/05/22/Property.jpg" alt=""></div>
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<div>
<p><em><span>PETE WARGENT </span>is the co-founder of <a href="https://allenwargent.com/" target="_blank">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em></p>
<p><em>His book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.</em></p>
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pwargent-M4siyDbqQY

Blowing bubbles (again): Pete Wargent

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<p><span>So why choose commercial property over residential?</span></p>
<p><span>Obviously this is the question every residential investor asks… whenever they are considering the transition across to commercial property.</span></p>
<p><span>However, you will quickly discover the reasons are rather compelling.</span></p>
<p><span>Reason #1: Your tenants stay for longer</span></p>
<p><span>For the most part, you find residential tenancies will be on a month-by-month basis… maybe 6 months, perhaps for a year if you’re lucky.</span></p>
<p><span>Whereas commercial leases will tend to range between 3 and 5 years - and it can often be for longer. That means you have fewer tenancy changes, and a far more predictable income stream.</span></p>
<p><span>Reason #2: You have greater control</span></p>
<p><span>When residential tenants wish to leave half-way through a lease, they simply need to find a suitable substitute tenant. And then, they will transfer the lease across to that person.</span></p>
<p><span>From there on, this new tenant becomes responsible for the rental, over the remainder of the lease term.</span></p>
<p><span>Whereas commercial tenants are running a business from your property. And whenever they sell their business, they also require your approval to “assign” the lease.</span></p>
<p><span>However, here’s the real difference: If the new commercial tenant defaults in paying the rental, you also have recourse to the previous tenant as well - because commercial leases are business contracts, enforceable by law.</span></p>
<p><span>Reason #3: You no longer need to pay the outgoings</span></p>
<p><span>Typically, residential properties will provide you with a 5% gross rental return.</span></p>
<p><span>From this, you need to pay the rates &amp; taxes, insurance, maintenance and so on — leaving you with about a 2.5% to 3% NET return, at the end of the year.</span></p>
<p><span>Depending upon what (and where) they are… commercial properties will generate a 5% to 9% NET rental return, each year.</span></p>
<p><span>And that’s because commercial tenants are also required to pay the various building outgoings <em>on top of their rental</em> - making this a true NET rental return for you.</span></p>
<p><span>Reason #4: Commercial tenants maintain your property</span></p>
<p><span>As you know, if the toilet stops working in an apartment … the tenant asks you to send around a plumber. Whereas commercial tenants quickly attend to (and pay to fix) the problem themselves - so as not to disrupt their business.</span><span style="line-height: 1.3em;"> </span></p>
<p><span>Furthermore, the overall appearance of the property becomes a reflection on them. As such, your property is maintained in top condition … at their expense.</span></p>
<p><span>Therefore, whether the lease requires it or not … most commercial tenants will regularly repair and repaint the property, in order to maintain a good corporate image.</span></p>
<p><span>Reason #5: Greater regularity with rental payments</span></p>
<p><span>Most residential properties are rented by individuals. Therefore, the rent is often paid in cash, by personal cheque or by direct transfer. And this can often vary in its timing.</span></p>
<p><span>Because they are running a business, commercial tenants consider rent as simply another regular expense each month.</span></p>
<p><span>And generally, this gets set up as an automatic Periodic payment - and can be specified as such, within the lease.</span></p>
<p><span>Bottom Line: In essence, you find yourself having to deal with the vagaries of individual people… as a residential investor.</span></p>
<p><span>However, when you become a commercial investor… you start to enjoy a more predictable long-term relationship with your tenants - based upon a proper business footing.</span></p>
<p><span>Doesn’t that sound like a far better arrangement - particularly when you can purchase a small office for the same price as a two-bedroom apartment?</span></p>
<p><strong><em>Chris Lang </em></strong><em>is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. You can contact Chris <a href="https://commercialpropertymadeeasy.com" target="_blank">here</a>.</em></p>
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chrislang-EQKojcgJPV

Why choose commercial property over residential? Chris Lang

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<p>If politicians wish to stall on a difficult issue, they hold an inquiry.</p>
<p>If the issue is really thorny and they’re reluctant to confront it, they’ll hold two inquiries, with the second to begin after the first has ended.</p>
<p>This is what federal politicians have done with housing issues. </p>
<p>All the core problems with housing could be solved if government stopped taxing it to within an inch of its life. Politicians won’t face that hard reality, because they’re addicted to the revenue they rip out of real estate. So they hold inquiries.</p>
<p>They spent all of last year and part of this one conducting an inquiry into housing affordability. Recently, having just handed down their findings from this long and expensive exercise, they announced another inquiry.</p>
<p>I have commented many times on the similarities between real-life government processes and the 1980s television series <em>Yes Minister</em>. Those who thought <em>Yes Minister</em> was a comedy were mistaken. It was a documentary.</p>
<p>According to the <em>Yes Minister</em> philosophy, the best way to do nothing on an issue, while giving the appearance of action, is to hold an inquiry. The longer it lasts and the less it achieves, the better.</p>
<p>This means you can hold press conferences, issue media releases, express lots of moral outrage, point the finger of blame in various random directions but ultimately change nothing. </p>
<p>The perfect outcome of a smokescreen inquiry is to identify an unpopular minority and make them the scapegoat for all the perceived problems. </p>
<p>If you think I’m being a tad cynical, consider this chain of events. On 12 December 2013, the Senate referred an inquiry into affordable housing to the Senate Economics References Committee and asked it to report by 26 June 2014. On 17 June 2014, the Senate granted an extension to the committee to report by 27 November 2014. On 2 October 2014, the committee was granted a further extension to report by the first sitting day in March 2015. On 2 March 2015, the committee was given yet another extension and was scheduled to report by 14 April 2015. On 13 April 2015, the committee presented an interim report, with the intention of tabling its final report in May 2015.</p>
<p>This long-winded and bumbling inquiry, which was almost a year late in delivering its findings, produced nothing of value. One example was its conclusions on negative gearing, one of the fundamental issues it sought to examine. The Senate Economics References Committee’s final report found that negative gearing “probably” had “a detrimental effect” on housing affordability, but they weren’t sure. The committee said that it was also unable to clearly determine what effect negative gearing had on rental affordability.</p>
<p>In a word, pathetic. They were given 11 extra months but they came up empty.</p>
<p>But the inquiry served its primary political purpose. It identified a scapegoat. Foreign investors, despite their small numbers and minimal impact on housing markets, were deemed the culprits for rising prices and poor affordability. </p>
<p>This allowed the Federal Government to look tough while threatening all kinds of consequences (including jail) if foreign investors broke the rules. This was justified, the Prime Minister said, because it would help first-home buyers. He was unable to explain how. And that was because it was bullshit.</p>
<p>Within days of the committee delivering its tardy report, federal politicians compounded their failure by announcing, don’t laugh, another inquiry.</p>
<p>The new inquiry, by the House of Representatives Standing Committee on Economics, will allegedly examine rates of home ownership, supply-demand drivers in the housing market, the proportion of investment housing relative to owner-occupied housing and the impact of current tax policy at all levels. </p>
<p>I almost fell off my chair when I read this, because the answers to all of those questions are well known. Anyone who doesn’t know the answers could discover them with 10 minutes on the Internet. Our 17-year-old could write a quick assignment on it because they’ve been studying real estate at school.</p>
<p>But of course the objective is not to find answers and make changes. The goal is to achieve further delays, distractions and diversions.</p>
<p>No one has the political will to take action on the fundamental problems, especially the taxation component in the cost of new dwellings. Lots of research has been done on this already. The facts are well known.</p>
<p>The committee chairman John Alexander set the tone for another drawn-out waste of money and lots of people’s time with a series of motherhood statements including this classic: “Home ownership is an issue that lies at the core of the Australian dream and represents the largest investment that most taxpayers will make during their lifetime.” </p>
<p>Stunning stuff. With any luck, Alexander and his mates should be able to drag the process out until at least 2017, before recommending a royal commission.</p>
<p><em>TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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terryryder-YECXbqmri2

Stall tactics and the great inquiry: Terry Ryder

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<div>The ABS released its Lending Finance data for May 2015 which showed that low interest rates are encouraging greater borrowing across the economy.</div>
<div> </div>
<div>While total lending was a little lower than in April on a seasonally adjusted basis, over the past year the data has strengthened considerably.</div>
<div> </div>
<div>Owner-occupied housing finance has increased to a record high level, while personal finance borrowing is also now tracking at its highest benchmark on record.</div>
<div> </div>
<div>Total lending finance for the month of $74 billion was an increase of 10% on the prior year figure, sending total finance commitments for the past 12 months surging 11% to $846 billion - the highest ever figure on this survey.</div>
<p><a href="https://1.bp.blogspot.com/-r7zMiNP0hrE/VaMqbW5y3nI/AAAAAAAAW2g/Hv0pU7OKztM/s640/LF3.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://1.bp.blogspot.com/-r7zMiNP0hrE/VaMqbW5y3nI/AAAAAAAAW2g/Hv0pU7OKztM/s640/LF3.jpg" width="640" height="282"><br><br><strong><span style="text-decoration: underline;">Sydney property investors running riot</span></strong><br><br></p>
<div>While property investor loans have evidently passed their peak for this cycle in Western Australia and the Northern Territory, elsewhere investor loans are trending upwards.</div>
<div> </div>
<div>Indeed in New South Wales investor lending is exploding off the top of the chart, with the May 2015 result of $6.07 billion again comfortably the greatest ever<em> </em>month of investment lending in any state or territory.</div>
<div> </div>
<div>Summarily, Sydney now has the highest ever level of investment lending in concert with the lowest stock on market levels we have seen. </div>
<div> </div>
<div>Egg on face for many of the property experts once again, though it should be noted here that the market regulator "should" now be targeting Sydney loans with a vengeance in order to dial back this exuberant level of demand.</div>
<p><a href="https://3.bp.blogspot.com/-y4pNm4gMQPI/VaMufvQ20hI/AAAAAAAAW3U/saA0sZZ_hR4/s640/LF1.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><img src="https://3.bp.blogspot.com/-y4pNm4gMQPI/VaMufvQ20hI/AAAAAAAAW3U/saA0sZZ_hR4/s640/LF1.jpg" width="640" height="280"></div>
<p> </p>
<div>Charted below is the raw data for New South Wales, which shows that investor lending has increased by an extraordinary 137% over the three years since May 2012.</div>
<div> </div>
<div>On a rolling annual basis, investor lending has increased by more than 30% over the past year - yet another monster increase.</div>
<p><a href="https://2.bp.blogspot.com/-rtCPwmPXV_w/VaMqbhX32AI/AAAAAAAAW24/QkPXvKGPAiE/s640/LF2.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><img src="https://2.bp.blogspot.com/-rtCPwmPXV_w/VaMqbhX32AI/AAAAAAAAW24/QkPXvKGPAiE/s640/LF2.jpg" width="640" height="272"></div>
<p> </p>
<div>Although not charted here mainly due to laziness, May was also by a whisker the strongest ever month for investment lending in Victoria at $3.27 billion, taking rolling annual lending to $34 billion, a 22 per cent year-on-year increase.</div>
<div> </div>
<div>May was another strong month for Queensland investor lending at $1.73 million. which takes the rolling annual figure 13.3 per cent higher than one year ago.</div>
<div> </div>
<div>It has been a long yet steady recovery for Queensland investors since the financing nadir related to the 2011 floods.</div>
<p><a href="https://1.bp.blogspot.com/-j1D_B7ZhPsI/VaMqcokjPwI/AAAAAAAAW2o/jADYFHRqXGY/s640/LF4.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><img src="https://1.bp.blogspot.com/-j1D_B7ZhPsI/VaMqcokjPwI/AAAAAAAAW2o/jADYFHRqXGY/s640/LF4.jpg" width="640" height="268"></div>
<div class="separator"> </div>
<div>Investor lending was lower in the month of May in South Australia, but nevertheless on a rolling annual basis has moved 11% higher over the past year.</div>
<p><a href="https://2.bp.blogspot.com/-U43UWz-Cr3s/VaMuJcbQtBI/AAAAAAAAW3I/YsmK5om-rqg/s640/SA.jpg" target="_blank">Click to enlarge </a></p>
<div class="separator"><img src="https://2.bp.blogspot.com/-U43UWz-Cr3s/VaMuJcbQtBI/AAAAAAAAW3I/YsmK5om-rqg/s640/SA.jpg" width="640" height="278"></div>
<p> </p>
<div>Investor lending is now declining in Western Australia, albeit fairly moderately, with low borrowing rates sustaining borrowing for property investment at a historically high level.</div>
<div> </div>
<div><a href="https://2.bp.blogspot.com/-z_r-c3Tek1w/VaMuJO7v2TI/AAAAAAAAW3E/AhROalONWVw/s640/Wa.jpg" target="_blank"><span style="line-height: 1.3em;">Click to enlarge</span></a></div>
<div><span style="line-height: 1.3em;"> </span></div>
<div class="separator"><img src="https://2.bp.blogspot.com/-z_r-c3Tek1w/VaMuJO7v2TI/AAAAAAAAW3E/AhROalONWVw/s640/Wa.jpg" width="640" height="278"></div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div class="separator"> </div>
<div class="separator">Overall, a strong result which suggests that total lending finance on an annualised basis may be heading towards $900 billion in due course, suggesting that easier monetary policy is taking effect.</div>
<div class="separator"> </div>
<div class="separator">Property investor lending continues to be exceptionally strong, particularly in Sydney and Melbourne.</div>
<div class="separator"> </div>
<div class="separator">And indeed the data suggests that this dynamic is now spreading to Hobart, Brisbane, and to a somewhat lesser extent, Adelaide.</div>
<div class="separator"> </div>
<div class="separator">
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
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Sydney property investors running riot: Pete Wargent

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<p>Historically Sydney embraced apartment living relatively early, in many inner suburbs there are examples of apartment buildings dating back to the 1930’s. Sydney’s appetite for apartment living has increased steadily ever since and this has resulted in a diverse stock of medium and high-density apartments to a greater extent than Melbourne.</p>
<p>Sydney has also alone successfully grown an urban landscape to become a ‘city of cities’ while the City of Sydney has long promoted the idea of a ‘city of villages’.</p>
<p>The evolution in high-density living and the continued growth of our varied urban centres has combined to help produced a rich and increasingly diverse apartment market. With each area offering interesting, diverse and appealing communities and neighbourhoods, as a result new apartment projects have also evolved in design and size to fit these different ‘cities’ and ‘villages’.</p>
<p>It’s a pattern of development that in Australia is unique to Sydney, much more so than Melbourne and with apartment living only going to increase, this extent of diversity appeals to many developers and buyers. It enables varied cultural outcomes to evolve and so makes each area more engaging and exciting.</p>
<p>One result is that we see architectural variety clearly responding to the different geographic and cultural markets that have developed. This also adds character to the city and creates different neighbourhoods that appeal to buyers.</p>
<p><strong>City of Cities</strong></p>
<p>Unlike Sydney, no other Australian city has developed the number of major high-density satellite centres such as Parramatta, Auburn, Bankstown, Bondi Junction, North Sydney and Chatswood.</p>
<p>This pattern of development is not surprising given the growing proportion of people living in high density housing. In 2001 one in seven (15.7%) of Sydney dwellings were classified as high density, by 2011 that had increased to 20.7%, today the figure is close to 30% and growing.</p>
<p>The highest proportions are located in the City of Sydney (70.2%) with the CBD (94.3%), and then followed by North Sydney (60.8%), Waverley (49%) and Woollahra (46.4%).</p>
<p>The appeal of these ‘satellite centres’ locations is somewhat surprising, as Parramatta, Bankstown and Auburn are all located some 20kms from the CBD, while Chatswood and Bondi Junction are within 10kms, which is often seen as the limits of the definition of inner-city.</p>
<p>However Parramatta is a great example so much so that recently a $2 billion proposal to rejuvenate its commercial hub was announced. And like Chatswood a strong high density residential market will be a key part of future plans.</p>
<p><strong>City of Villages</strong></p>
<p>In the 1950’s the idea of a CBD, as a district devoted to business did result in some areas becoming somewhat isolated from the wider community, and this historically residential development. Now that thinking has been reversed. Today the City of Sydney (along with most other cities) is one of the most dynamic high-density residential markets.</p>
<p>Taking on the idea of a series of villages, in part reflects international trends, but it’s a very positive way to help encourage and sustain residential areas and individual developments with wide appeal.</p>
<p>The City of Sydney has identified 10 villages, and these include the CBD and Harbour, Chinatown/CBD South, Green Square/City South, King &amp; Harris Streets, Oxford Street and Redfern Street.</p>
<p>With the village plan actively promoted, when we think of marketing and development goals we can see from various consultations how residents would like to see the area’s villages evolve.</p>
<p>What is interesting and perhaps not that surprising is that many of the key points residents look to encourage would be an exact check list for any successful development to address, including;</p>
<ul>
<li>developing a sense of community</li>
<li>improving public transport (plus encouraging bike riding and walking)</li>
<li>supporting local services and businesses</li>
<li>solving parking problems</li>
<li>‘greening’ streets and neighbourhoods</li>
<li>promoting safe and clean public places.</li>
</ul>
<p>For residents the idea of a City of Villages is appealing, however to meet the needs of a modern economy the long-term planning for any city needs to accommodate commercial growth and all of the associated services. Today we also see that a mix of development, including a range of residential projects clearly helps to enhance and create a more vibrant city.</p>
<p>As Sydney continues to grow as a ‘City of Cities’ we will continue to see further urban consolidation, much of which is based around transport connections. People and planners are attracted to existing suburbs and so the idea of a ‘City of Villages’ also makes sense, the idea allows for sensitive development while retaining local character.</p>
<p>Sydney’s supply of land, in particular land with reasonable access to services and employment is very limited and so both these trends are set to continue, and I think make a positive contribution to our urban environment.</p>
<p><em>Peter Chittenden is managing director for residential of Colliers International. He can be contacted <a href="https://www.projectagenda.com.au/" target="_blank">here</a>.</em></p>
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City of cities, city of villages: Peter Chittenden

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<div>NAB releases its June 2015 Business Survey which revealed some interesting results, with unemployment now expected to peak at 6.25% and other near term data strengthening.</div>
<div> </div>
<div>Business conditions trending higher moving up strongly from +5 to +11, the highest level since last October and well above the long run average.</div>
<div> </div>
<div><a href="/images/2015/07/15/Nab1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/07/15/Nab1.jpg" alt=""></div>
<div><span>Business confidence is also back up to its post election peak, moving up nicely from +8 to +10, with the highest recording now to be found in retail (the lowest confidence, of course, is in mining):</span></div>
<div><span> </span></div>
<div><a href="/images/2015/07/15/Nab2.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/07/15/Nab2.jpg" alt=""></span></div>
<div> </div>
<div><span> </span></div>
<div><span>And trading conditions booming:</span></div>
<div><span> </span></div>
<div><a href="/images/2015/07/15/Nab3.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/07/15/Nab3.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div>The forward orders index also rose from +2 to +5.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Buffers</span></strong></div>
<div> </div>
<div>On the other hand, consumer confidence has been ticked a little lower lately, which has led in turn to some remarkable loan "arrears" data.</div>
<div> </div>
<div>The average homeowner is now so far ahead on mortgage repayments that loans buffers are better measured in <em>years</em> than months. </div>
<div> </div>
<div>It's amazing how often this theme is recurrent with clients I speak to.</div>
<br><span>The full NAB survey can be found </span><a href="https://business.nab.com.au/wp-content/uploads/2015/07/NAB-Business-survey-June-15.pdf" target="_blank">here</a><span>.</span>
</div>
<div><span> </span></div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
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NAB business survey - an upside surprise: Pete Wargent

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<p><span style="line-height: 1.3em;">According to </span><span style="line-height: 1.3em;">Time Magazine</span><span style="line-height: 1.3em;">, second citizenships are very popular among the wealthy of the world.</span></p>
<p><span>But where do they choose to move to?</span></p>
<p><span><strong>Net inflow of millionaires 2000 to 2014</strong></span></p>
<p><span>UK - 125,000</span></p>
<p><span>US - 52,000</span></p>
<p><span>Singapore - 46,000</span></p>
<p><span>Australia - 35,000</span></p>
<p><span>Hong Kong - 29.000</span></p>
<p><span>UAE - 18,000</span></p>
<p><em>Source; Time Magazine</em></p>
<p><span>Some of these locations will remain popular due to their favourable tax legislation.</span></p>
<p><span>Others will become more sought after due to them being desirable places to live.</span></p>
<p><span>I expect to see Australia moving up this list, particularly becoming a country of choice for with the wealthy of Asia. </span></p>
<p><span>We even have a visa system which encourages this. </span></p>
<p><span>Where would you move to, if you could live anywhere?</span></p>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
<p><span> </span></p>
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The international flow of millioniares: Pete Wargent

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<p><span>Bubble Talk seems to have eased off (finally) as most headline avoiding commentators acknowledge we are not in a bubble, if a bubble is defined by illogical price increases and/or unsustainable longer term prices.</span></p>
<p><span>Yes we are in a run of price increases (beginning in the 1900’s – pushing along since the GFC 2009 recovery, accelerating further since October 2012 and the foot to the floor since Christmas); but the price increases have been largely due to deep overseas demand as the world says “Melbourne – you are an International Property Market we want to invest in”.</span></p>
<p><span>At some time the market will ease, it will have falls and that would more than likely be caused by changes in migration/population/overseas demand. That could be tomorrow and if it does, then prices will drop.</span></p>
<p><span>The government has begun to tinker around the edges trying to control this boom, by getting banks to alter interest rates for investors. As far as Inner Melbourne homes go, this should have minimal effect on the market, just as the stamp duty tinkerings of a few months ago, as predicted, have made zero difference to overseas investment.</span></p>
<p><span>We are not saying that trying to ease the boom is not a good a thing, its just the real driver of our current Inner Melbourne market boom is Asian investment combined with increasing wealthy migration / population, not local investor interest rates. All altering interest rates for locals will do, is make it easier for Asian investors to buy.</span></p>
<p><span>Understanding these concepts is critical for buyers – as acting or not acting based on fear, rather than reason usually means poorer decisions.</span></p>
<p><span>Example: For decades Western society as a whole has believed that fat is bad and fat makes you fat. Accordingly we have all made dietary decisions based on that assumption and as a society we have got fatter and fatter, despite not wanting to. “Bubble” headlines are very similar to “Fat” headlines if it means you as a buyer make poor decisions, based on false assumptions.</span></p>
<p><span>If/when a significant market change occurs, it will be due to a lessening of demand (it will be understandable); not due to a bursting of some artificial, unexplainable bubble. It is important to differentiate that there is no truth based on fact, that we are in an artificial or illogical price situation as far as Inner Melbourne houses go.</span></p>
<p><span>There are very real and logical reasons why prices are increasing and it’s called overseas demand and limited local supply.</span></p>
<p><span>Yes a boring headline, but a truthful one. It’s important for buyers to understand the current market, so as they can make informed decisions; not ones based on the more exciting, but less accurate headlines of Bubble, Bubble, Price Falls and Trouble.</span></p>
<p><span>Our advice to buyers is when the developing markets of India, China and others start to falter and the money flow to Australia changes and both Liberal and Labour espouse restrictive migration and population policies; then, as buyers we would be sitting up and taking notice re possible long term land value deflation; as we saw in Japan (no migration, no population increases). Until then, the more pressing problem is how are we going to secure our dream home in Inner Melbourne in the next year.</span></p>
<p><span>Word of warning: Please understand our comments are based on the Inner Melbourne Market, not the overall Melbourne market. Please do not assume prices will always increase and therefore stretch too far.</span></p>
<p><span>Yes treasury officials said there are risks right now, but there are risks in buying in any market. We feel you can best mitigate your homebuying risks by making well informed decisions, and that is true in any market. In our opinion a decision not to enter the market is not necessarily a well informed one if your longer term desired outcome is one of emotional and financial security through good home buying.</span></p>
<p><span>We feel the Inner Melbourne Market risks are not “bubble” related, they are demand and supply related. We cannot see any evidence that says the risk in buying a home now is more elevated than a year ago or anymore elevated than we perceive the risks might be in 2016. Please don’t think in the next six months that the market must fall or please don’t think the market cannot rise any further, because there are no facts to support either theory with certainty. </span></p>
<p><span>The only certain thing in 2015 is, we are in a market.</span></p>
<p><span>Markets at times are flat and at times rise and fall.</span></p>
<p><span>Every property decision should be an informed individual one, with a sharp eye on mortgage payments/interest rates, as at some stage interest rates will go up and/or prices will fall; but balanced with the fact that getting in now, as in almost all cases over the last 30 years, has proven to be a good home buying decision (if the home was a good buy, meeting the individual’s shorter and longer term desired outcomes – with good PPP’s).</span></p>
<p><span>Summary: There are risks in individuals buying homes in any Inner Melbourne market (interest rate/employment/health changes) – the risks in 2015 do not appear to be elevated as implied by some Treasury officials. Homebuying risks are not mitigated by inaction, they are mitigated by making informed action decisions. In our opinion, unless there is a change in migration, Asian money flow and/or population policies, the real elevated risk maybe in not at least considering getting into the current Inner Melbourne market (with the right PPP’s and FFF’s of course).</span></p>
<p><span><em>Mal writes weekly auction reports, advice and in-depth market analysis on <a href="https://www.jamesbuyeradvocates.com.au/" target="_blank">James' website</a></em><span>.</span></span></p>
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Buyer's agent Mal James on house price bubble risks 

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<p>Melbourne prestige buyers agent Mal James says it would be easy for buyers to throw in the towel, but urges they don't.</p>
<p><span style="line-height: 1.3em;">Advising buyers to not panicking and sticking to buying fundamentals, he says his</span><span style="line-height: 1.3em;"> client’s last 10 market dealings over a recent 10 days reflect the i</span><span style="line-height: 1.3em;">nner Melbourne market was strong.</span></p>
<p><span style="line-height: 1.3em;">"But it’s not impossible to navigate," he said noting s</span><span style="line-height: 1.3em;">ome cheers and some tears in their dealings which ranged between $2 million to $6 million.</span></p>
<p>However he notes several examples of sales at 20% above agent quotes, including to FIRB approved buyers at Studley Park. There was also a Malvern home sale at 33% above agent quote in Malvern.</p>
<p><span style="line-height: 1.3em;">"Overseas interest can add $100,000 for each $1,000,000 as a rule of thumb," he noted.</span></p>
<p><span style="line-height: 1.3em;">"The market is manageable.</span></p>
<p><span style="line-height: 1.3em;">"The market is hot and you need to be brave and bold. </span></p>
<p><span style="line-height: 1.3em;">"Not ridiculous, but brave and bold.  </span></p>
<p><span style="line-height: 1.3em;">"On one of the homes we bought, the underbidder paid $110,000 extra the next day to be an underbidder again on what appeared to us to be a similar offering.</span></p>
<p><span style="line-height: 1.3em;">"Better a missed opportunity than a mistake.</span></p>
<p><span style="line-height: 1.3em;">"You are not going to get smashed or surprised every time, if you do your homework on price. </span></p>
<p><span style="line-height: 1.3em;">"</span><span style="line-height: 1.3em;">Sometimes it is just too much and you have to move on. </span></p>
<p><span style="line-height: 1.3em;">"Move on but don’t give up or don’t overreact," he said.</span></p>
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