Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Australia Post is one of the country’s most trusted institutions, powering one of the largest delivery networks in Australia. As online shopping continues to scale, Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online.

That scale of eCommerce activity has fundamentally changed expectations around how and when parcels arrive, and what happens when someone isn't home.

<h3>Problem solved with Parcel Lockers</h3>

The traditional alternatives to home delivery are far from ideal. Buildings can rely on reception teams to manage deliveries, which introduces ongoing staffing costs and liability concerns. Parcels can be left in common areas, which creates security and aesthetic issues. Or residents are redirected to nearby Post Offices for collection, which shifts the inconvenience rather than solving it.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/dVG5ChLHf7E?si=D9hQRGCBuzlSQBqK" title="YouTube video player" width="560"></iframe>

The data behind that frustration is significant. Nationally, around 9 per cent of deliveries are carded, meaning the recipient was not home and must collect the parcel from a Post Office. That figure reflects the national average reported between November 2025 and January 2026. In Melbourne, that figure rises to 20 per cent. In high-density living, it climbs again to 28 per cent. In other words, more than one in four deliveries in Melbourne apartment buildings results in a failed first attempt.

<h3>How Parcel Lockers work</h3>

The mechanics are simple. When a parcel arrives, the resident receives a notification either through the Australia Post app or via SMS. They scan a QR code, use their one-time PIN and the compartment opens. The parcel is secure, accessible and removed from the lobby floor.

Located in thoughtfully chosen, easily accessible areas, including external building interfaces, mixed-use precincts or shared communal zones, Parcel Lockers enhance convenience without requiring internal building access or additional operational oversight.

<h3>The scale of the network</h3>

This expansion represents Australia Post's largest investment in parcel infrastructure to date, building on momentum that began in 2011 when the first 24 Parcel Locker sites were introduced.

Today the Australia Post Parcel Locker network spans over 1,400 locations and more than 105,000 individual compartments, with major investment already underway to significantly expand the network further.

<h3>What it means for developers and building operators</h3>

A Parcel Locker bank is free to install and free for residents to use. That removes one of the primary barriers to adoption and shifts the conversation from cost to integration.

Australia Post's preference is to engage with developers during the design phase. That allows Parcel Lockers to be located in a considered, publicly accessible space that works for residents and the broader community. Retrofit is possible, and existing buildings can be assessed, but the strongest results occur when Parcel Lockers are treated as part of the core services plan rather than a bolt-on solution.

While the iconic Australia Post red is widely recognised, Parcel Lockers can also be delivered in more muted palettes such as beige or green to align with architectural intent.

For developers, they offer a tech-forward amenity that meets modern expectations, a reduction in courier congestion and building-management load supporting lower emissions and better ESG outcomes, and a meaningful marketability advantage in high-density, eCommerce-active areas, all at no cost for installation and maintenance, with Australia Post funding the program aside from power access.

<h3>Who's using them</h3>

Generational shopping behaviours show strong, sustained growth across all cohorts. Millennials (27–43) led online spend in 2024, contributing nearly $25 billion. Baby Boomers (60–78) increased their online spend by 17.6 per cent, becoming the fastest-growing adopters. Gen Z (13–26) and Gen X (44–59) continue to lean on delivery services as part of their everyday shopping habits.

Internationally, uptake is even more pronounced. Overseas markets are seeing rapid adoption by both developers and consumers, positioning Parcel Lockers as standard infrastructure in many new residential projects. For Melbourne's development community, this signals a shift in baseline expectations. Just as secure bike storage and dedicated parcel rooms have become more common, integrated Parcel Locker networks may soon be viewed as part of the essential service mix.

<h3>The bigger picture</h3>

Parcel Lockers aren't just a logistics fix. Developers invest heavily in lobby design, materials, lighting and landscaping to shape first impressions. Yet a stack of unattended parcels can undo that effort in an instant. Embedding parcel infrastructure early allows projects to respond to how people actually live today, supporting resident satisfaction, reducing operational strain and aligning with broader community and ESG outcomes.

As Belinda Quinn, Senior Transaction Manager – Retail &amp; Out of Home at Australia Post, puts it, residents increasingly expect delivery solutions that align with real life, are flexible, secure and available whenever they need them.

How Australia Post is solving the parcel problem for apartment living

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The rules have been becoming more flexible in Perth regarding secondary dwellings and the strategy has been popular in Sydney for some time, but is it a strategy that you as an investor would undertake?
Recently, a property industry expert has come out against them saying that they are <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/granny-flats-worse-investments-than-vending-machines-gavin-mcpherson/2013090264738">worse investments than vending machines</a>,  however we have also been told that they are a great <a target="_blank" href="/news">value adding technique</a>.
"A property which recently added a granny-flat in addition to the house was able to achieve a consolidated income of $900 per week," said founder of Australian Mortgage Options, <a target="_blank" href="https://www.propertyobserver.com.au/renovating/don-t-overlook-the-potential-of-a-granny-flat-robert-projeski-renovating/2013052061444">Robert Projeski</a>.
 
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Would you build a granny-flat on your investment property?

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Fire pits have become a new selling point for homes entertaining areas and backyards, from in ground to free standing they are a new must have for renovations and new homes.
The international trend was picked up in Channel Seven’s recent series of <a target="_blank" href="https://au.tv.yahoo.com/house-rules/houses/">House Rules which incorporated fire pits into three of the six home renovations</a>.
Stylish and practical, fire pits can be elaborate or functional and built using different types of materials from timber to wrought iron, bricks, sand stone, slate and rock.
The designs are endless and can be built to suite all types of homes from big modern houses to small country cottages or terrace homes, the limitless shapes and designs can work in any type of back yard and don’t have to feature as the focal point.
Fire pits can come in small portable styles that can be moved around an entertaining area, in these cases more than one can be used.
<img alt="poll-results-sept-3" height="122" width="470" src="/images/stories/2013/09/03/poll-results-sept-3.jpg">
 
Property Observer has noticed more and more fire pits advertised in real estate agents spiels. Here are some examples.
A three bedroom, two bathroom weatherboard home in Sydney’s north recently sold with Matt Brady of Belle Property for $1,055,100 it featured an alfresco deck, with an in ground fire pit and encompassing seating amongst its leafy green garden at <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-seaforth-109398741">9 Prince Edward Road Seaforth</a> (pictured below).
<img height="353" width="470" src="/images/stories/2013/08/seaford_aug_29_one.jpg" alt="seaford_aug_29_one">
This glamorous harbour side home with views of the Sydney Harbour bridge and Opera House at <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-mcmahons+point-112741739">37 East Crescent Street McMahons Point,</a> recently sold with Tim Foote at Belle Property for $$$. It also includes a bowl fire pit in a large entertaining courtyard (pictured below) with surrounding timber panel seating and stools. 
<img height="353" width="470" src="/images/stories/2013/08/mcmahon_point_aug_29.jpg" alt="mcmahon_point_aug_29">
Another home currently on the market featuring a free standing fire pits is <a target="_blank" href="https://www.realestate.com.au/property-house-sa-port+lincoln-112155563">20 Power Terrace Port Lincoln SA </a>  (pictured below).
<img height="353" width="470" src="/images/stories/2013/08/lincoln_aug_29.jpg" alt="lincoln_aug_29">
Those with in ground often use a sandy coloured gravel ground or grass and decorate with pebbles or rocks around the fire pit inlcuding the recenrly sold <a target="_blank" href="https://swanhill.ljhooker.com.au/6YKFCF">3 Emma Court, Swan Hill VIC</a> and <a target="_blank" href="https://www.realestate.com.au/property-house-qld-ningi-112645995">33 Cavanagh Place Ningi</a> (pictured below).
<img height="353" width="470" src="/images/stories/2013/08/nighi_aug_29.jpg" alt="nighi_aug_29">
They tend to landscape around the area to compliment the fire pit, with stone or brick retaining walls and timber panelling. The 2011 Block contestants <a target="_blank" href="/news">Shannon and Aaron from Perth have done up a home in Palmyra </a>Western Australia which recently sold for $670,000 through Wendy Maben of RE/MAX. The <a target="_blank" href="https://www.realestate.com.au/property-house-wa-palmyra-113470003">101 Adrian Street Palmyra</a> property is a good examples of using the lanscape to compliment the fire pit (pictured below). 
<img height="353" width="470" src="/images/stories/2013/08/palmyra_aug_29.jpg" alt="palmyra_aug_29">
Other examples can be found here:
508 Wendouree Parade, Ballarat VIC: <a href="https://shop.domain.com.au/Property/For-Sale/House/VIC/Ballarat/?adid=2009576159">https://shop.domain.com.au/Property/For-Sale/House/VIC/Ballarat/?adid=2009576159</a>
62 South Beach Road Somers VIC: <a href="https://www.realestate.com.au/property-house-vic-somers-114150103">https://www.realestate.com.au/property-house-vic-somers-114150103</a>
31 Peppermint Grove Engadine NSW : <a href="https://www.realestate.com.au/property-house-nsw-engadine-113332551">https://www.realestate.com.au/property-house-nsw-engadine-113332551</a>
40 Geographe Bay Road Dunsborough WA: <a href="https://www.realestate.com.au/property-house-wa-dunsborough-113144047">https://www.realestate.com.au/property-house-wa-dunsborough-113144047</a>
23 Newell Place Dawesville WA: <a href="https://www.realestate.com.au/property-house-wa-dawesville-111622399">https://www.realestate.com.au/property-house-wa-dawesville-111622399</a>
66 Dinsdale Road Gidgegannup WA: <a href="https://www.realestate.com.au/property-house-wa-gidgegannup-107930946">https://www.realestate.com.au/property-house-wa-gidgegannup-107930946</a>
Design Ideas: <a href="https://www.houzz.com/photos/firepits">https://www.houzz.com/photos/firepits</a>
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Will the winter firepits fad extend into spring?

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A rash of developer incentive programs continues to confuse the residential property market and there is a genuine need for transparency.
First-home buyers and uneducated buyers are unfortunately often those targeted by such schemes.
The following is a photo taken this week, illustrates the kind of incentives in the market place.
<img height="355" width="470" src="/images/stories/2013/08/sugars-aug-29-one.jpg" alt="sugars-aug-29-one">
So who pays for the new Ford Fiesta (currently valued at $15,000)? You would think the answer is obvious- “the purchaser”.
In this instance the land being marketed is being sold for an asking price of between
$156,500 and $165,000. Therefore the incentive is representative of almost 10% of the asking price.
So is a block of land or unit worth more due to the incentive? Maybe to the potential buyer.
But in a resale situation where no incentive is available, the market would adjust appropriately.
When a potential mortgage lender gets a professional valuation done, the price will be adjusted by the valuer to reflect the pre incentive price. This means the buyer will have to come up with the additional money that would in most cases simply reflect the value of the incentive.
Other incentives common in the market place include furniture vouchers, electronic equipment, landscaping packages, shopping vouchers and offers to pay the first $10,000 to $25,000 of the future builders contract.
In numerous instances the incentives are not as obvious as those depicted in the photo illustrated above. Most often they are hidden at the rear of a 100-200 page contract, or in some instances provided only on a second contract which is not disclosed to the lender or the valuer in the first instance.
Perhaps the developers would be better off pricing their stock at market levels, forget the incentives, be more transparent and build trust within the relevant market place.
Our experience suggests that the incentives at settlement time only provide frustration for the purchaser, mortgage broker, lender and valuer. It is a no win situation for all involved and often results in delays and disappointment.


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Greg Sugars is chief executive officer at the property valuation and advisory firm <a target="_blank" href="https://prp.com.au/">Preston Rowe Paterson</a>.
 
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Greater need for transparency in developer incentives: Greg Sugars

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Granny-flats have renewed interest given recent law changes in WA, but are they really a good idea for investors?
Here are the top four reasons for and against granny-flats:
For
Increase your property’s rental – adding a granny-flat can add a significant amount of rental income onto an investment property. It means you’ll get two income streams from a single lot.
Turn a negatively geared property into a positively geared property – This extra income can turn a negatively geared property into a positively geared one. It may mean you can stop claiming deductions but at least you’re earning some cash.
Many tenants prefer them to apartments – granny-flats allow tenants access to a back-yard, which means they’re often pet friendly and utilities are often included in the rent due to the complications of separate metering.
Always have an income from the property – If one tenant vacates then you’ll always have the other to see you through the vacant period. It’s not a lot of money but it keeps the cashflow going.
 
Against
Reduced rent on the main house – Tenants will demand a lower rent on the main house if they are forced to live with other tenants in their back yard.
Longer vacancy periods – Even with a reduced rent there is often a longer wait on finding tenants on a house with a granny-flat. Many people simple won’t do it due to concerns about neighbour disputes and loss of privacy.
It may not add value to the house – granny-flats can cost a lot to build – maybe in the vicinity of $100,000 but they don’t add that much to the house, if at all. Land and houses increase in value, but granny-flats don’t. And they’re not even that special any more in some suburbs, especially across Sydney that have had a surge in granny-flat activity. When it comes to resales granny-flats might reduce your buying interest to investors, with own occupiers taking their interest elsewhere.
They’re ugly – They’re not very pretty things to look at. There’s no getting round the fact that granny-flats detract from the outlook of the property, which could diminish it’s value.
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The four pros and four cons of building a granny-flat

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As property developers, Property Bloom has a range of development strategies most commonly involving building new dwellings and land subdivision.
But, we also offer two house renovation strategies. One is to maximise rent and depreciation benefits, which is our most common strategy and recently we’ve decided to offer a service to renovate houses to sell them.
There are certain times in the property cycle that the renovate-to-sell strategy offers opportunity. You need to use this strategy when the sales market is rising, so timing is crucial.  If you buy, renovate and sell in a stagnant or downward trending market, even though you are adding value to the house, you are likely to lose money.
Outside of the renovation costs, you must consider costs such as stamp duty, legal fees for the purchase and sale, holding costs during the renovation and sales process and selling costs.
You may also need to include capital gains and land tax, so it’s important to seek good accounting advice and make sure you’ve included all costs in your feasibility analysis.
So you need the help of an upward moving market to supplement the renovation and selling costs. Bearing all this in mind, we think perhaps the time is approaching for a buy-renovate-sell strategy.
Property Bloom’s original renovation strategy to add value to increase rent is all about maximising the yield.  We are currently renovating a house for this purpose where we are also building a granny-flat so our client will have two rental incomes from the one property.
With this house renovation, we are bringing the house up to good rental standards, we are very conscious of all costs and continually ask the question of any changes – will they add rental value?  If not, we don’t do them.  So street appeal takes a step back and safety takes a step forward.
Creating a third bedroom or second living area is high on our list. No bells and whistles are needed, just a safe, clean and functional dwelling that meets tenant demand in this location.
It’s a different kettle of fish with our strategy to renovate to sell. The sole purpose of this renovation strategy is to create as much profit as possible for our client.
For this strategy, our has shifted from properties that have larger land and development potential, to property very well located and close to CBD and facilities. These properties are more likely to have a smaller land component, which won’t matter as long as there is some low maintenance and well presented private outdoor living areas.
The potential owner occupier buyers don’t want a granny-flat in their back yard and would prefer a home with a garden they can tend, a double garage or garden shed for storage, some good quality features to the home like stone benches, ducted A/C, good natural light, a quiet location and a pleasant neighbourhood.
Property Bloom looks for different features in a property to renovate and sell to what we may look for in a property to renovate and rent.
Tired property in need of help with good bones is what we need. Large homes – four bedrooms is a bonus - with some nice, original features that we can enhance and restore. The location is of high importance.
All of a sudden the house, not the land, is our focus.
Funny after all these years of looking at a house as a development site, now we are looking at a house for all the features of a warm, attractive home.
<hr>
Jo Chivers is director of <a title="Property Bloom" href="https://www.propertybloom.com.au/" rel="nofollow" target="_blank" style="font-size: 14px;">Property Bloom</a>, which manages property development.
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Choosing your renovation strategy; rent or sell?  Jo Chivers 

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The auction of 11 vacant blocks by Wesley College in Rose Street, Glen Waverley, last Saturday achieved an ‘’unprecedented result’’ for Barry Plant Glen Waverley.
The blocks of between 700 and 750 square metres on a two hectare site sold for an average $1.2 million each. The land had never been used for school purposes and was originally an orchard.
The sale – possibly the suburb’s largest land release - came five months after the college dumped plans for an 84-apartment complex abutting its Glen Waverley campus.
Most of the buyers were families and international buyers. However, agent Adrian Santini said one or two were bought by developers to build display homes. A further 11 blocks was sold to home builder Metricon prior to Saturday’s auction.
Rose Avenue is 500 metres from Centro The Glen, Glen Waverley station and Glen Waverley Secondary College.
“It was unprecedented,’’ Santini said. ‘’We had more than 600 people crammed into a massive marquee which we had set up for the occasion with 15 staff members lined up to handle questions and the paperwork.
‘’The blocks all sold within about 40 minutes, all achieving prices more than 25% above the average for a similar property in the area.
“They even sold for more than established homes on larger blocks.” The suburb’s median house price is $727,000, with the agent theorising that, as the original 22 blocks was reduced to only 11 after the Metricon sale, the supply/demand equation pushed prices up further.
“The majority of buyers were definitely families wanting to build in the area which is so close to excellent local schools and all amenities,” Santini says.
Barry Plant Group founder and market commentator, Barry Plant, said the whole of the property market had their eyes on the sale. “Glen Waverley has evolved to become one of Melbourne’s most sought after suburbs, and the results of the auction shows this is where the real action is in the property market.” 
 
Melbourne’s house clearance rate on the weekend was 77%, with a median price of $771,000 and the total value of properties sold at $239,320,050.
Two hundred and two flats/apartments achieved a clearance rate of 73%, with a median of $522,750 and a total value sold at $82,354,670.
The sale of 17 blocks of land achieved a clearance rate of 76%, with a median price of $1,180,000 and the total value sold at $14,103,500.
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Snapped up - 11 vacant blocks sold by Wesley College in Rose Street, Glen Waverley

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During the week I sent out a little survey question to some of the real estate agents Property Bloom uses in the Hunter Region of NSW. I wanted to pick their brains on a decision we had to make.
We were in the process of designing a three villa project for our wonderful client, Tim, and my brief to the builder and architect was to try and include double lock-up garages (DLUGs), not just a single garage (SLUG), for each three bedroom villa if possible.
When the concept plan came back it did indeed have DLUGs but the villas did not have ensuites off the master bedrooms. 
However, they did have a separate ‘powder room’.
A powder room is a small bathroom that contains only a wash sink/vanity and a toilet. Sometimes, it's referred to as a guest bathroom or half bathroom, and it is usually located in a place where guests can use the facilities without having to go into the main bathroom.
Our optimum villa design includes three bedrooms, two bathrooms and a DLUG.  But the land size for this project meant we couldn’t have it all and we didn’t want to sacrifice the size of the double living areas of the villas.
I had recently seen a villa for sale (not one of ours) that had to be reduced in price dramatically as the living space was just too small. It had been sacrificed so that there were two bathrooms and a DLUG.
My question to the agents was “What is more valuable: an ensuite or a double garage? (In lieu of a single garage)”
It was interesting to see two differing opinions. One agent thought the ensuite or second bathroom was more important than the extra space a DLUG would provide.
But more agents came back with recommendations to keep the DLUGs over the second bathrooms.
The reasons were interesting; it was mentioned several times by the agents that both owner occupiers and tenants love storage space. 
Sometimes, their most valuable asset is their car and they want a garage for the car plus space to store their things.
Internal access from the garage to the house was also important particularly for downsizers or young families.  There is nothing worse than lugging bags of groceries further than you have to on a wet day.
Security was also mentioned, so remote access to the garage was important.
These villas would be kept and used as investment properties but our client  was also mindful of the end value and demand when he does decide to sell.
I had just read a really good article written by fellow observer Mark Armstrong: <a href="https://www.propertyobserver.com.au/residential/how-the-single-storey-villa-unit-ugly-duckling-became-a-highly-prized-investment-mark-armstrong/2013081364170?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=upperright" target="_blank">"How the single story villa became a highly prized investment."</a>  
Mark talks of a 1970s villa selling above reserve in Hawthorn, Victoria. 
He described three target markets for this little two bedroom, one bathroom, single garage villa:
-          Downsizers
-          Investors
-          Home owner investors – looking for a stepping stone property
This was exactly the same as our target market up in the Hunter Region. 
I clicked through to view the villa Mark was talking about and was interested to see the size and the amount it had sold for.  It actually didn’t have either an ensuite or DLUG but it was beautifully renovated.
What I also needed to take into consideration was a recent experience where a valuer had valued two villas that were part of a dual occupancy project.
They were very similar but one had a SLUG and one had a DLUG. The difference in the valuation was $30,000. 
The main reason was that in that particular market, the sales references for three bed, two bath single garage villas were all mostly attached and formed part of a duplex. The valuer didn’t seem to add back the value of freestanding villas.
So for this three villa project, I have looked closely at what had sold in this estate and what was in demand from tenants. 
In this area, there were more sales references for villas with DLUGs than for SLUGs and bearing in mind our client’s first intention was to maximise rental returns, we have chosen the DLUG over the ensuite.
But we do still have the powder room which I think is a great compromise.
Jo Chivers is director of <a style="font-size: 14px;" target="_blank" rel="nofollow" href="https://www.propertybloom.com.au/" title="Property Bloom">Property Bloom</a>, which manages property development.
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What's worth more to your home: an ensuite or a double garage? Jo Chivers

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A first round new home building recovery looks set to be stopped in its tracks without increased policy focus on housing reform at a state and federal government level.
That’s the view of chief economist Harley Dale speaking at the launch of the HIA’s winter 2013 edition of its National Outlook.
Putting forward its ‘’comprehensive national report card’’ Dale predicts the new home building recovery is ‘’at risk of running out of steam’’ and that there will be a gradual improvement in renovations investment from a 10 year low.
“A strengthening in the new home building markets of NSW and Western Australia has driven a promising first round recovery in national housing starts,” he says.
“Ensuring the recovery is sustainable is the key, but that looks unlikely based on current policy settings.”
Dale says a policy focus on housing reform at state and federal levels was crucial for a first round new home building recovery. “Such an outcome would be detrimental to an improvement in housing affordability, a faster pace of economic growth, and a lift in the nation’s productivity performance.”
HIA estimates housing starts rose 8.3% last financial year to 157,108 following two consecutive years of decline. A fall of 4.2% is forecast for 2013/14 as growth in NSW and WA temporarily runs out of steam ‘’before a geographically broader-based recovery takes sufficient hold’’.
HIA estimates that total investment in renovations fell by 6.6% in 2012/13 to reach a decade low. Growth of 3.5% is forecast for this financial year, which would take investment up to $28.9 billion. This would be $1.8 billion short of the 2010/11 record.
In May this year HIA launched its Federal Election 2013 policy platform - Housing Australians - outlining 50 policy actions for a future federal government. These aim to address the growing housing affordability challenge facing Australians and to ensure a sustainable residential construction recovery to suit the economy and growing population.
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New home building recovery at risk of running out of steam: HIA

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The Stockland managing director Mark Steinert has described the past year as a "trough" year for Stockland as it reported its results for the year ended 30 June 2013 with its underlying $494.8 million profit, down 27% on the previous corresponding period.
It reflected soft conditions in the new housing market, the impact of asset sales, and the previously reported change in approach to capitalised interest.
"This has been a challenging year and we have responded with a number of important strategic decisions that position our business for stronger future returns," Mr Steinert said.
"Although global economic conditions have improved over the last six months, there is still considerable uncertainty and volatility.
"In Australia business confidence remains low and consumer spending is relatively soft as households continue to deleverage.
"We expect consumer sentiment will remain relatively subdued, however we do anticipate continued moderate economic growth. While the housing market is showing clear signs of improvement, the recovery is likely to be modest and uneven."
Mr Steinert said he expected steady improvement in Stockland’s earnings from FY14 largely from its new retail, residential and retirement living projects beginning to contribute, along with recent industrial letting, rental growth and as benefits of cost reduction initiatives come through.
However, improvement in residential earnings "will likely be constrained as Stockland continues to work through a number of impaired and low margin projects.
"It will also take some time to see the full benefits of the Group’s new strategic priorities, particularly in Industrial and medium density housing development.
"Our decision to hold our distribution at 24 cents per share, despite being outside our target payout ratio, demonstrates our confidence that earnings should continue to improve from FY14," Mr Steinert said.
"We significantly restructured the business to reduce costs and improve core processes and skill sharing.
"We reviewed our residential landbank to create a clear classification of core and workout projects, and also maintained our strong balance sheet and A-/stable credit rating."
As previously flagged, the performance of its residential business was significantly impacted by "market softness" which affected both volume and prices.
Its profit also reflected the shift in sales mix with a lower proportion coming from higher margin projects in Victoria, and the previously reported change in our approach to interest capitalisation.
The residential division group executive Andrew Whitson said Stockland had reduced "finished goods by 50%, ensuring a good mix of affordable products and accelerating the sale of impaired lots to release capital for reinvestment."
While looking to accelerate the work out of impaired projects, Stockland are now  focused on bringing new higher margin projects to market such as East Leppington (Willowdale) in NSW and Banjup in WA.
It has also identified projects in its portfolio where it can increase revenue and broaden its market reach by expanding our medium density offering.
"Importantly we have outlined a clear strategy to optimise securityholder returns within an acceptable level of risk through the cycle," Mr Steinert said.
"This includes setting target asset weighting ranges that reflect our strengths and which will deliver the right balance of income and growth.
"We have a refreshed senior management team in place and are determined to execute our strategy with a disciplined focus that will deliver reliable profit and EPS growth over time."
Its statutory profit was $104.6 million, down 79%, largely due to a previously disclosed $355 million impairment in the value of the residential book.
Its underlying EPS was 22.4 cents, down 24% from FY12.
Stockland’s full year distribution was 24 cents per security.
Stockland announced it will sell its 14.9% stake in its retirement rival, FKP Property, a strategic holding which dates back to 2008.
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Trough year for Stockland who are now focused on higher margin residential projects

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As outlined in <a target="_blank" href="https://www.propertyobserver.com.au/auctions/estimating-construction-costs-on-residential-projects-michael-matusik/2013080763671">my recent post,</a> it is interesting to ponder why ‘construction costs’ is so high on the Missive search button list.  
We know that much more of the ‘new’ housing dollar is being spent on renovations. 
Some estimate that just over half of the money spent on residential construction is now spent renovating rather than on new builds. 
Others estimate that the Australian renovation market has more than doubled in size (dollars spent) since the early 2000s.  
I think there is much more at play here than just economics.  
It’s true that the increase in taxes and charges on new property (GST, infrastructure charges, stamp duties etc.) has had a negative impact on new housing demand. 
This goes some way to explain why new house building is at record lows (in per capita terms), but it doesn’t fully explain the rapid rise in renovations.  
Several things come to mind:  
Increasingly, we feel we have less control over our lives: post 9/11- threat of terrorism;  lack of political leadership;  the internet;  media sensationalism;  our general lack of fortitude – we scare so easily theset days;  no nation building projects.
This list could go on and on.
And so undertaking a renovation is one way of controlling our environment. 
We aren’t confident enough to make a big move and buy something new.  
What defines a home isn’t the property itself, but more often than not, it is defined by the spaces around it.
Housing or the idea of a home, is bound up with a vivid sense of place.  
This seems lost on many of today’s planners, even architects and especially developers. 
If you listen to buyers (including investors), they will describe what surrounds the property and how the building itself interacts with this space, rather than the dwelling itself.  
It’s not just about what the project looks like but how it fits into its immediate surrounds. 
It is much more than just a property’s location or in which suburb it sits.  
There is pride at stake. 
Too few new residential developments evoke a sense of pride.  An owner must be able to say, with a degree of self-importance, that I live here (or own one of these).  
I cannot help but think that too many new developments look pretty crappy and also lack this vital connection between the property itself and the surrounding space.  
Too many lack a sense of place.  
Taking this line of thought further, we all seem to want our own place.  This want for my place is one reason why renovations are replacing new development. <ol></ol>
Renovations can allow us to make space more suited to me.  Whilst renovating often means adding space – a home within a home so to speak – renovations also aim to improve space and this is the point when it comes to new development.  
Potential buyers tell us that it is the carbon copy nature of new development (rather than the amount of it), their lack of input in the final product and the strict rules of its use that stop them from buying something new.  
It seems to me that new development these days plans out all of the non-profitable components.  For example, the best medium-density housing developments incorporate plenty of built-in space where incidental contacts occur naturally.  
Why can’t off-plan buyers – who financially qualify – make changes to certain things like kitchen and bathroom layouts? 
Many more would buy if they could do so.  
Why can’t new projects design in some flexibility, suchas  internal walls that moveor multi-functional spaces?  
We want bespoke, even if is just a tiny bit.  
And whilst a cost burden, many accept body corporate fees, but the rules associated with living under such a system seem antiquated to say the least.  
Yes there are plenty of economic reasons why what I have outlined is difficult to implement,  but these are some of the reasons why new dwelling sales remain low and renovation activity is on the rise.  
The want for my space helps explain why, in many Western societies, houses are expanding while households are generally shrinking.  Children used to share bedrooms a generation ago. 
My grandparents never said I need some space,  but my kids, our parents and my wife and I do.  
Michael Matusik is the founder of <a style="font-size: 14px;" href="https://www.matusik.com.au/" rel="nofollow" target="_blank">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a style="font-size: 14px;" href="https://www.matusikmissive.com.au/" rel="nofollow" target="_blank">Michael’s Blog</a> or follow him on <a style="font-size: 14px;" href="https://www.facebook.com/ThinkMatusik?fref=ts" rel="nofollow" target="_blank">Facebook</a> and <a style="font-size: 14px;" href="https://www.twitter.com/michaelmatusik" rel="nofollow" target="_blank">Twitter</a>  or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
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