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.

<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/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

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

<html><body>
Lend Lease’s timber high-rise tower development Forté is just two floors shy of its final height in its 10th week of construction.
<img src="/images/stories/2012/08/forteaug172.jpg">
Although construction was on hold Friday with rainy Melbourne weather, the construction on the Docklands project is well and truly under way, with glimpses of work being started on the eighth floor.
<img src="/images/stories/2012/08/forteaug175.jpg">
 The rapid rise of this tower means it is now easily visible from Collins Street, with expected completion in October.
Australia’s first cross-laminated timber high-rise apartment block is set to be 10 storeys high, making it the tallest timber building in the world, overtaking the eight-storey apartment block Stadthaus, Murray Grove, in London.
<img src="/images/stories/2012/08/forteaug174.jpg">
 The $11 million timber tower will be comprised of approximately 760 panels, measuring up to 16.5 metres by three metres, shipped from Austria. The panels were specifically made for Australian conditions.
Daryl Patterson, head of operations at Lend Lease, says the quick construction of the tower is mainly due to its similarities to that of an Ikea flat-pack.
 The timber flooring of 145 millimetres and walls of 128 millimetres are stacked as a platform on top of each other and screwed together. This type of construction means the building can be erected 30% faster than more traditional building methods.
 
<img alt="fortesite3" src="/images/stories/2012/06/fortesite3.jpg" width="470" height="313">
Forté's progress as of June 8
 
<img alt="fortejune3" src="/images/stories/2012/06/fortejune3.jpg" width="470" height="313">
Forté's progress as of June 29
 
<img alt="_mg_5006" src="/images/stories/2012/07/july13forte/_mg_5006.jpg" width="470" height="313">
Forté's progress as of July 13
<img src="/images/stories/2012/08/forteaug173.jpg">
Forté's progress as of August 20 
{module Would you buy an apartment in a timber building?}
</body></html>

ntrotman-Et3xWpamVh

Docklands timber tower Forté two months and two floors short of completion

<html><body>
I had a call this week from a chap who was weighing up whether he should develop property or just go out and buy some new properties.  I explained that buying existing property is like buying at full retail prices or perhaps at sale prices if you are lucky. 
But by building your own properties, and I mean two or more, not just one, is more like buying at cost prices as you can manufacture equity through the development process. 
I thought I’d share what I believe to be the main benefits of developing property over buying an existing today and give you my three top tips to get started on your development journey.  This will run as a three-part series, beginning with part one today.
Property development can encompass many activities including renovating an existing dwelling or building, demolition of buildings and/or building new and subdividing or changing the use of land.
By developing property you are adding value and will be creating or manufacturing equity through the development process rather than waiting for capital growth, as you do when you purchase an existing dwelling.  Most the towns we develop in are growing at an annualised rate of over 10%.
If you plan well and time your development so that you are adding value and manufacturing equity while the market is in an upswing, then you could make some good money, as you’ll also benefit from the capital growth during the period you are developing
But if your timing and/or location is wrong and your plan is to sell on completion, then you may find it hard to sell or your margin has diminished if values are dropping.
Developing property can be risky and not for everyone. There are many things that can go wrong, so it is important to really do your due diligence and understand the many facets involved.
I’ve compiled what I think are the top three things to do first when embarking on a property development. 
Select the right location for your property development 
Which region and then which town are you going to develop in?
You'll need to do lots of research. Start with the local council's website, which will give you information on:
<ul>
<li>Community profiles – who lives in the area?</li>
<li>Population estimates – very important to see if the area is growing</li>
<li>Migration figures – where is the community coming from?</li>
<li>Working population breakdown – is it mainly a retiree area or does it have a large working community? You will obviously be looking for the latter for a strong rental market.</li>
<li>An overview on the economic development of its community – what is planned for the future?</li>
<li>Recent development approvals will be listed so you can see what type of developments are currently being approved.</li>
<li>Tourism – how much does the area rely on tourism as an industry?</li>
<li>Infrastructure investment/planning – very important, make sure there is considerable investment being made here</li>
<li>Development control plans (DCP) and local environment plan (LEP).  Find the one that gives guidelines on the type of development you are planning to do, for instance and there should be a separate DCP for dual occupancy development, which is building an additional dwelling on land that would normally house just one.</li>
<li>Long-term strategic plans – this is a really important document to read as it will show housing and employment needs for the future and pinpoint the areas earmarked for growth.</li>
</ul>
When talking to a council town planner and ask questions like: 
<ul>
<li>How long the average DA takes to process?</li>
<li>Is the council open to new development in the area? </li>
<li>What is the minimum lot size?</li>
<li>How many dwelling can you build on this particular lot; and</li>
<li>Can the planner see any issues that may impede developing this lot; for instance, is it in a flood zone? </li>
</ul>
The council website will usually include many valuable links to other websites in the area. 
Speak to local agents to understand the average lot size and use Google Earth, it’s a fantastic tool for armchair street inspections. 
Of course, you will need to visit the area and drive around, chat to the locals and take note of the type of housing currently available and what perhaps is missing. 
Look for an area that is currently undervalued and has huge potential to grow and whose population is actually growing and is supported by diversified industry. 
This means it will probably have a strong rental demand. You can find out the vacancy rates by asking all the local agents how many properties they manage and how many they have available to rent. Add them all up and divide the available for rent properties by the total under management and you’ll get the vacancy rate percentage.  Areas with a consistent vacancy rate around 1% have a strong rental market. 
For example:
Total number of properties available to rent in X town:  29
Total number of properties under management: 1,397
Vacancy rate:  2% 
You'll need an area that has affordable land with large lot sizes.  The more dwellings you can build on one block, the more equity you can create. 
Also consider how far you want to travel, in order to manage your development you’ll need to do regular site visits.
Jo Chivers is director of <a href="https://www.propertybloom.com.au/">Property Bloom</a>, which manages property development.
</body></html>

jochivers-wq5Bp59R5a

The first step when getting involved in property development: Choose the right location

<html><body>
Channel 7's new reality series, The Renovation Show, is currently casting for teams of two from all over Australia to compete in its home renovation television series. They want DIY stay-at-home renovators.
<img src="/images/stories/2012/08/casting.jpg">
To be eligible contestants must own their own home, and it must be their primary place of residence.
<a target="_blank" href="https://au.tv.yahoo.com/casting/">The application</a> can include a video to introduce themselves and a tour of their homes.
They must include before and after floor plans illustrating how they would like to see it laid out, preferably within the home’s existing footprint.
Successful applicants must be able to commit to a filming period of up to three to four months.
For real-life property lessons from reality TV shows, download our free eBook <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-lessons-from-the-block-and-other-property-reality-television-shows">Lights, Camera, Auction!</a>
<ul></ul>
</body></html>

jchancellor-FAypfDUnLy

Channel 7's new Renovation Show seeks teams of two from homes in the suburbs

<html><body>
The Reserve Bank has backed up its August 7 cash rate statement that the housing market is showing signs of firming with expectations that residential construction activity could pick up in the second half of the year.
“There are tentative signs that housing market conditions and residential building activity may be starting to improve,” says the RBA in its August statement on monetary policy.
“Dwelling prices have increased modestly in recent months in most capital cities, but remain down a little over the year.
“Demand for housing finance is broadly unchanged from a year ago.
“With building approvals rising from low levels in recent months, there are signs that residential activity may start to pick up some time in the second half of 2012; lower interest rates, rising rental yields and population growth are likely to provide support for new housing construction," says the RBA.
In the RBA’s August 7 monetary policy decision statement put out after it announced that the cash rate would remain unchanged at 3.5%, the central bank said that while it was too soon to see the full impact of interest rate changes, "dwelling prices have firmed a little over the past couple of months, and business credit has over the past six months recorded its strongest growth for several years.”
The RBA also provided an economic update in today's August monetary policy statement, saying the  outlook for the Australian economy is largely unchanged from the May statement, though it has boosted the outlook for GDP growth over 2012 to 3.5%.
"Real GDP growth is forecast to slow somewhat over the second half of 2012 as the strong growth of domestic demand in the first half of the year moderates. While the forecast for growth in the second half of 2012 is similar to that in the May Statement, the stronger than-expected growth in the first half of 2012 has boosted the forecast for GDP growth over 2012 to 3.5%.
"The economy is then expected to grow at around 3% over 2013 and 2014," says the RBA.
It added that while an "adverse shock to global demand would be expected to reduce commodity prices, and hence Australia’s terms of trade, by more than is currently forecast" the country remains "relatively well placed to respond to such shocks given the scope to adjust macroeconomic policies and a robust financial system; movements in the exchange rate would also be expected to play an important role in adjusting to such shocks".
</body></html>

lschlesinger-FZcF9M3vE6

New home building could pick up in second half of 2012: RBA 

<html><body>
It took Johnson Controls a year to remove, retrofit and replace each of the Empire State Building’s 6,514 double-hung, dual-pane windows – 26,056 panes of glass in total. It was all part of a three-year project that has made the 1930s-era skyscraper – arguably the most famous in the world – among the most energy efficient buildings in the world as well.
The revamp also cut the 102-storey building’s energy bill by around US$2.5 million a year, meaning the US$13 million retrofit will pay itself off in only three years.
But it was a major challenge, given the building’s age and heritage status for Johnson Controls, a huge US-multinational specialising in retrofiting commercial buildings.
Johnson Controls has a long history in Australia and has also been responsible for retrofitting major building spaces in Australia, including the Gateway Plaza and Tower overlooking the Sydney Opera House and Harbour Bridge.
Other Australian projects include retrofitting of 83,000 square metres of property owned by the Victorian Department of Treasury &amp; Finance to reduce energy use by 33%, water use by 8% and greenhouse gas emissions by 9,400 tons annually.
But the Manhattan landmark was arguable the company's greatest green challenge.
<img src="/images/stories/2012/08/empirestate3.jpg">
“The Empire State Building is a historical landmark so you can’t change the look,” Clay Nesler, vice president of global energy and sustainability for Johnson Controls, tells Property Observer.
This meant Johnson Controls had to use the existing unpainted red window frames, dating back to the Empire State's construction in 1931.
The windows were never meant to be red, but because the building was constructed at the height of The Great Depression they were never painted (to save costs) and the original primer colour remains today as a distinctive part of the look of the skyscraper.
To better insulate the building, contractors had to insert an extra spacer into each window and fill this with an inert gas.
“Every day 75 windows came down and 75 new ones went up – it took us a year just to the do the windows,” Nesler says
The process paid off, with the insulation provided by the new window design removing the need to undertake a costly retrofit of the 1931 air-conditioning “chiller” plant in the building.
Replacing the windows was one of eight energy-efficiency improvement measures implemented by Johnson Controls in a project that kicked off in 2008.
Johnson Controls also implemented a new tenant energy management system, which allows every tenant in the building to monitor (via an online system) the amount of energy they are using over any period of time and compare their energy use to other tenants.
“So accounting firms can compare themselves with other accounting firms in the building,” says Neslor.
The success of the Empire State Building project comes as Johnson Controls releases the results of its latest Efficiency Indicator (EEI) survey showing that plans for green building certification in Australia grew about 50% last year.
According to the 253 Australian facility managers, building executives and owners surveyed, more than a quarter (27%) plan to pursue green certification on new construction projects and 41% plan to certify existing buildings.
 
<hr class="system-pagebreak">
 
Nesler says the results show that energy management is growing in importance for Australian building executives with 79% describing energy management as very or extremely important to their organisations, up from 63% in 2011.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/es.gif"><img src="/images/stories/2012/08/esthumb.gif"></a>
Source: Johnson Controls
It also found that just over half (52%) of Australian respondents have invested in energy efficiency in the past year, and 35% have invested in renewable energy – both below the global averages (63% and 36% respectively).
Another interesting local result was that Australia, alongside the UK, was the only market in which respondents cited asset value as a top-three motivator for efficiency behind energy cost savings and government and utility incentives or rebates.
According to the survey, Australia’s top three energy efficiency measures adopted in the past 12 months included: lighting improvements (67%), water efficiency improvements (57%), and heating, ventilation, and air conditioning (HVAC) improvements (50%).
</body></html>

Retrofitting the Empire State Building provides profit lessons for going green in Australia

<html><body>
Stockland’s Highlands residential community in Craigieburn in Melbourne's outer north – its number-one selling residential project for the 2012 financial year – will become the “blueprint” for all future projects, says Stockland managing director Matthew Quinn.
Set against the backdrop of the surrounding Craigieburn hillside and with views of the CBD skyline, the $1.4 billion project achieved 550 sales over the year, well ahead of Stockland's next best performing community – North Lakes, 25 kilometres from Brisbane, which achieved sales of 360 lots over the year.
About 3,000 families are now living in the Highlands community, with 46% of the 7,058 lots sold as of June 30.
<img src="/images/stories/2012/08/stocklandaug6.gif">
In addition to the residential component, Highlands also features retirement living and schools, together with retail and commercial amenities.
Sales in this project as well as other Victorian projects were boosted and brought forward by government stimulus – the $13,000 first-home buyer boost ended on June 30, but Quinn highlighted a number of other factors in its success.
<img src="/images/stories/2012/08/stockland2.jpg">
“It’s a great community offering an affordable product, which now also has a retail centre in place," he says.
“It has all the amenities people are looking for and is the textbook project of how all communities should be developed.
“It will be the blueprint for future communities,” says Quinn.
<img src="/images/stories/2012/08/highlands3.jpg">
A four-bedroom house in Highlands is priced around $344,000, which is less than the median house price in the area and part of Stockland’s strategy of providing affordable housing targeted at families and first-home buyers.
 The community has an entry price of $311,000, compared with a local median price of $350,000.
Lots are priced from $130,000 to $262,000.
The community features a 7,100-square-metre Stockland Highlands Shopping Centre  with a Woolworth’s supermarket as the anchor tenant along with speciality stores and piazza-style town square.
A local Craigieburn bus service – route 533 – operates from 6.30am to 9.30am linking the shopping centre to the train station.
The bus services runs every 30 minutes and takes about 20 minutes.
<img src="/images/stories/2012/08/highlands4.jpg">
The community also features 150 hectares of planned open space, with a park within walking distance of every home, the Highlands lake, wetlands, walking trails and Waterside Café.
Highlands is also close to a number of primary and secondary schools, a childcare centre and the $16.7 million Hume Global Learning Centre.
Other nearby projects to open soon a $6.3 million Craigieburn Child &amp; Family Centre and the Highlands Hotel &amp; Entertainment Complex, due to open soon.
The Highlands display centre offers 47 different home types to choose from with builders Carlisle Homes, Burbank, Boutique, Homebuyer's Centre, Simonds, Urban Edge, Eight Homes, Orbit, Porter Davis, Henley, Metricon, Bentley, Dennis Famil, JG King, Allied and Zuccala.
Stockland’s next biggest Victorian residential community project, Mernda Villages, also in the outer North of Melbourne, notched up 280 lot sale over the year.
</body></html>

Stockland’s Highlands residential community in Craigieburn to be 'blueprint' for all future projects

<html><body>
Australia’s biggest residential developer, Stockland, has reported a 35% drop in statutory profit to $487 million for the 2012 financial year to June 30.
Despite achieving record number of residential lot settlements for the year Stockland, suggests cautious buyers have not responded as they have in previous rate-cutting cycles.
The developer’s residential development arm settled a record 5,388 lots but still reported a 15% drop in full-year profits of $198 million, compared with $233 million in 2011, principally due to a fall in profit margins.
Stockland reported that profit margins had come under pressure due to the changing project mix and lower superlot settlements.
Stockland managing director Matthew Quinn, presenting his last full-year results before retiring next February, said rate cuts were not encouraging borrowing or stimulating the housing market.
Quinn described the housing market as the toughest since the late 1980s, when he joined the group.
He called the full year performance a “reasonable result in what continues to be a very challenging operating environment”.
Quinn noted that pre-GFC, a 2% interest rate cut had resulted in a 10% increase in housing credit growth but that post-GFC, the same interest rate cut had resulted in only 3% housing credit growth.
Furthermore, he said that in previous cycles  dwelling approvals picked up within three months of rate cuts, but in this cycle dwelling approvals had declined.
However, he said the overall housing market fundamentals remained strong, with strong population growth and an undersupplied housing market.
He noted the growing number of 25- to 34-year-olds – the peak household formation age group – and a low unemployment rate low at 5.2%. He also noted housing supply had been lower than underlying demand for some time, with undersupply estimates ranging from 130,000 to 240,000 homes.
Mark Hunter, head of Stockland’s residential business, said the developer was targeting corridors that had outperformed the market – the strongest being NSW.
Hunter expects the 2013 financial year to also be challenging.
Stockland will begin the new financial year with 1,561 deposits, about 700 fewer than last year.
But Hunter says there are signs the market is near the bottom but recovery is likely to be slow as consumers remain very cautious and lack urgency.
“We expect decline in first-home buyers with re-emergence of upgraders.
“WA is showing signs of recovery, but Queensland and Victoria are weak, with NSW improving but with low margins."
</body></html>

Stockland profits slide 35%, with slower than normal response from cautious residential buyers to rate cuts

<html><body>
Readers of Property Observer may be well attuned to purchasing property.  I’m sure many have attended numerous free seminars and property shows, read industry websites, commented on property forums and so forth. However, think for a moment about the first-home buyer – the buyer with few assets aside from hard-earned deposit and (in the current atmosphere) work that may not be all that secure over the long term.
With little experience in the property industry, and from my own findings, woeful ignorance regarding the transaction process, they are the ones who need the most protection when purchasing.  A first property is unlikely to be a buyer’s last, therefore it’s essential to have investment as part of the criteria as well as consideration of lifestyle needs.
Governments have taken an active hand in pushing first-home buyers towards the purchase of new house-and-land sales by way of various incentives and handouts to aid increasing supply.
It’s not hard to see where the attraction lies – the advertisements look beautiful and tempting.  Developers also have their own gift spree to encourage sales – sometimes including plasma TVs or in other cases a <a target="_blank" href="https://m.theage.com.au/business/property/gifts-galore-boost-flagging-unit-sales-20120728-233eo">holiday or car</a>.
But when it comes to property – whether buying established or new – the approach to any advertisement should always be cautionary. They’re designed to show the best aspects of the home, but the information that’s really important is the information you can’t see – most of which is written in black and white on the contract of sale.
The risks are often not highlighted in detail and in many instances, the contract for house-and-land packages are often not available until some level of commitment (application fee) from the home buyer has been received.
Here’s a quick rundown:
<ul>
<li>Imagine a large block of land – perhaps once used as farmland – recently purchased by Mr Smith (owner of a development company). Mr Smith has decided he wants to divide it into lots and sell each as a house-and-land package to potential home buyers. However, he’s not sure if he’s going to have the money to complete the project and he wants to be sure potential home buyers would be prepared to buy into the development before he proceeds. 
</li>
<li>Mr Smith puts together an advertisement, showing the proposed lots, complete with artist’s impressions and floor plans of homes purchasers can choose from. Along come the home buyers, lured in by “generous stamp duty savings” (which are discounted prior to construction or before construction is completed). They’ve seen the artist’s drawings, which perhaps include “quality carpet, tiles, Blanco appliances, double-glazed windows, locks, flyscreens, recycled-water facilities” and so forth. 
</li>
<li>The costs seem low considering the inclusions, so they gingerly choose their design – which can require an application fee – (without yet seeing a contract) – mentally locking themselves into the purchase. Once the contract has been prepared with the desired prospective floor plans and so forth, they sign on the dotted line and look forward eagerly to the date they can move in. </li>
</ul>
<ul>
<li>Mr Smith now has the ability to get a loan to fund the development and can proceed with the project as planned. </li>
</ul>
It all sounds like a dream, until you consider the risks involve, because to this point they have purchased simply that – a “dream”. The developer may – or then again, may not – acquire approval for the subdivision and even if he does, once obtained, there’s no guarantee the house will represent the depicted drawing on the advertisement.   Should the council find fault with the developer’s plans, Mr Smith has every right to alter the specifications of the purchaser’s future home (with or without permission) and with a signed contract in place, there’s nothing concrete the purchaser can do to protest. Imagine for example, the council disagree with the placement of the north-facing window in the downstairs living zone or want to alter the boundaries of the land.  Unless Mr Smith can resolve the issue or draw a compromise with the town planner, the whole project is under threat of demise.  Considering the amount of investment Mr Smith has made in this project, he can’t risk a fussy purchaser withdrawing from a contract based on this alone.  Therefore the contract puts in place “special conditions” to protect the developer – conditions that can’t be altered by the purchaser and lock them in for the duration.   Most contracts will state a time during which the developer will apply for the “plan of subdivision”. However these periods are generally long (sometimes in excess of 18 months), and the developer has the entire period to resolve any disputes, during which the purchaser is tied in.  Should the plan of subdivision not arrive within the stated period, the contract will be rescinded and deposit monies refunded – however the purchaser needs to bear in mind the length of time this can take (sometimes in excess of 12 months) and make provision for the worst-case scenario. The contracts will sometimes specify “settlement dates”, however when it comes to development, nothing is set in stone.  Delays are typical, and the contract will make provision for this.  If the purchaser has made plans to vacate his or her existing dwelling, there can be significant expense and stress involved in finding temporary accommodation for what is often an unspecified period of time.  Once again, the contract makes no provision for withdrawal. In addition to this, the lot dimensions can change due to the council specifying the need for additional public space within the community.  Contracts for house-and-land package sales generally give the developer every right to make minor (which in some cases turn out to be major) alterations – not only to the land size, but also the interior fixtures and fittings.  (Note the meaning of “minor” is not specified!) Unlike with established sales, the purchaser cannot threaten to delay settlement – he or she is “locked in”. 
<hr class="system-pagebreak">
Any new home looks great at the start of its cycle, however 10 years down the line will reveal whether it was a quality product or equivalent of a factory mass-produced item.  Developers obviously build with a guaranteed seven-year period in mind – and unless you’re familiar with the builders’ work and long-term reputation, don’t expect the property to last without fault for 10 years or more. Furthermore, it’s not unusual for significant defects – sometimes established at construction – to go “unnoticed” until after the specified period expired and age begins to kick in. The time and expense involved in legal battles of this nature is often enough to deter complaint.
 When purchasing an established dwelling, it’s possible to make offers subject to a building inspection, however this option is not applicable to new home sales.  Furthermore, if there are any defects at the completion of construction, it’s not necessarily going to be an easy ride getting the issue resolved.  By the time defect has been discovered, the builder may be working on another development therefore typically hard to contact or worse still, he may have suffered bankruptcy in the interim.
Furthermore, it’s important to note that the bank cannot not provide a carte blanche guarantee they will lend against the home until construction has been completed.  Even with pre-approval the final box isn’t ticked until a valuer can inspect the finished product.  During the period of construction – which can easily take in excess of 12 months or more – the market may have fluctuated downwards and therefore there’s a significant risk the valuation could fall short of the contract price.  The purchaser may have to come up with an extra $10,000 or $20,000 to complete the contract of sale or risk losing their deposit all together. As I specified at the beginning, all house-and-land sales come with risks attached.  This doesn’t mean a purchaser need rule them out all together – however it’s essential to walk in with eyes wide open and minimise the liability involved. A good developer will generally aim to please and complete the contract as promised, however there are no guarantees and the purchaser must allow for this.
Before you buy into the government incentives read the tips below.  You may well decide to stick to the security of real estate you can touch before you buy.
<ul>
<li>If possible, check the builder's previous developments and get a feel for the quality and finish.</li>
</ul>
<ul>
<li>Allow for the worst-case scenario.  Should the master-planned community fall through or fail to settle within the specified period, make sure there’s a back-up plan that won’t leave you homeless while searching for a plan B.</li>
</ul>
<ul>
<li>Read the fine print – get the contract checked – and understand the worst of the risks involved before signing on the dotted line.</li>
</ul>
<ul>
<li>Try and negotiate a “deposit bond” rather than cash.  Should the developer become insolvent or disappear prior to construction, tracing a cash deposit may be difficult.</li>
</ul>
Ask lots of questions!  Can you visit the site prior to construction?  Will you be consulted if changes occur to the specified plans?  Where will the deposit be held? (Usually a deposit sits in the real estate agency’s trust account and doesn’t accrue interest; however this isn’t necessarily the case with off plan developments.) Can you exit the contract if the development fails to be completed on time?
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition. 
</body></html>

catherinecashmore-6LXia3pPQj

Be wary of uncertain house-and-land packages

<html><body>
The 10 million tourists expected to visit London for the 2012 Olympic Games will get to see the city’s latest super-high-rise development, The Shard. That’s because it’s 309.6 metres tall and is the tallest building in Europe. From the top it’s sometimes possible to see the English Channel, 80 kilometres away.
The 95-storey building topped out at the end of March and officially opened on July 5 with a massive laser show.
There are 44 lifts in the pyramid-shaped tower, including some double-decker lifts to carry the maximum number of tourists.
Though if tourists do want to try the lifts out, a family of four will have to shell out a cool £87 to reach the observation deck, 244 metres above the ground.
<img src="/images/stories/2012/08/shard2.jpg">
The tower was first envisioned by British developer Irvine Sellar and architect Renzo Piano, most famous for the Pompidou Gallery in Paris.
The project was then taken up by Sellar, the family trusts of Simon Halabi, a Syrian-born investor, and CLS, a British property business. The global financial crisis put the project in jeopardy but in 2008, a Qatari consortium bought Halabi and CLS out of the project and secured funding to ensure the future of the project.
The Qatari consortium included Qatar National Bank, QInvest, Qatari Islamic Bank and the Qatari developer Barwa Real Estate.
The consortium currently owns 95% of the project.
The construction was originally opposed by English Heritage but in 2003 then deputy prime minister John Prescott approved the project following a public inquiry.
<img src="/images/stories/2012/08/shardlondon.jpg">
It is reportedly the biggest mixed-use building in London, and the cladding is made of 11,000 panels angled to reflect the sky and change the appearance of the building with the weather.
It was built on the site of the Southwark Tower, a 24-storey office block tenanted by PricewaterhouseCoopers.
Sellar told Bloomberg he expects the building to be worth £2.5 billion once it’s fully leased, though to date it has only secured one tenant – Shangri-La will run the hotel on site.
The building will also have 53,350 square meters of office space, 10 luxury apartments and shops.
There will also be three floors of Michelin-star restaurants.
Sellar says no decision has been made on whether to lease or sell the apartments.
He said the total cost of the project was £1.5 billion.
The building won’t be open to the public until 2013.
London skyline photographs courtesy of <a target="_blank" href="https://www.flickr.com/">Flickr</a>.
</body></html>

awalsh-7Ub9EypybQ

London's visitors can't miss The Shard, new skyscraper of Olympic proportions 

<html><body>
Villa Amalfi in Paradise Point, Queensland is a riverfront home advertised as a work of art.
The 1,600 square metre six-bedroom house comes with a 12-metre pool, an 180-person formal dining room, an internal lift that can carry 13 people and a gourmet chef’s kitchen.
And of course, this 38-seat home cinema is the Mediterranean masterpiece.
The four-level residence was built with its 42 metre north easterly Broadwater frontage by Geart and Birthe Bjerring, who bought the Knightsbridge Parade East block for $3.2 million in 2008 before going on to build what is their fourth Sovereign Islands home.
It was on the market with $12 million price hopes in mid-2011 and <a href="https://realestate.brisbanetimes.com.au/overview/3942957/50-knightsbridge-parade-paradise-point-4216/">Coldwell Banker</a> is now seeking interest at $9.5 million in conjunction with <a href="https://www.realestate.com.au/property-house-qld-sovereign+islands-109089731">First National Paradise Point</a>.
<img width="470" src="/images/stories/2012/07/hometheatre1.jpg">
<img alt="2009741178_24_FS" height="353" width="470" src="/images/stories/2012/2009741178_24_FS.jpg">
</body></html>

Latest Building Insights

How Australia Post is solving the parcel problem for apartment living

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Building Insights

How Australia Post is solving the parcel problem for apartment living

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News