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

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First-home buyer interest in house-and-land packages has grown significantly over the past few months, Stockland CEO Matthew Quinn has told investors.
Quinn says the first-home buyer segment has been the biggest beneficiary of the November interest rate cut.
“For those looking to borrow for the first time, every dollar counts. The idea of buying your first house gets more compelling with each rate reduction,” Quinn says.
For other segments of the market though such as investors and upgraders, Quinn says while the rate cut was great news, it’s too early to determine the benefits.
“It’s not a top of mind issue for buyers. They are not saying ‘hallelujah, rates have fallen’. It’s not a game changer.”
What will have an impact on sentiment, Quinn says, is if a pattern of rate reductions develops, as many are predicting.
Both Quinn and Stockland residential CEO Mark Hunter stressed on numerous occasions during the presentation that affordability and pricing are key to attracting first-home buyers.
 <img src="/images/stories/stocklandnov232.jpg">
“An affordable product is in high demand from first-home buyers,” Quinn says.
Stockland is targeting a price range of $290,000 to $350,000 for first-home buyers.
For this price, buyers get a three-bedroom, two-bathroom, one-garage houses measuring about 143 square metres built on lot sizes of 212 square metres.
Stockland is targeting first-home buyers to make up 20% to 30% of its sales composition.
For advice on buying your first investment property, download our free e-book.
 
</body></html>

lschlesinger-FZcF9M3vE6

First-home buyer interest in house-and-land packages rising: Stockland

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To stimulate the development of much-needed new housing, developers and state governments are offering prospective buyers a range of incentives such as grants, no-deposit home loans and free luxury extras.
For those buyers considering a house-and-land package, these are 10 dates to keep in mind:
November 30, 2011
The last date to take advantage of <a target="_blank" href="https://www.metricon.com.au/melbourne/buying-guide/designer-promotion/35th-birthday?gclid=CJeIsfjbyawCFURV4godb0rsqQ">Metricon’s 35th Birthday sale</a>. The sale includes free extras for its house-and-land packages in metro regions. Extras include luxury carpets, solar heating systems and remote-control garage doors.
December 11, 2011 Up until this date, <a target="_blank" href="https://www.clarendon.com.au/">home builder Clarendon Homes</a> is offering savings of up to $14,000 on a number of its Victorian home designs. It is also offering extras of up to $21,000 on NSW homes as part of its Lifestyle Plus Summer Sale with no set deadline.
December 24, 2011
Christmas Eve is the last day to take advantage of an <a target="_blank" href="https://www.summitnewhomes.com.au/pages/4022/introduction">upgrade offer from WA builder Summit Homes</a>. The builder is offering high ceilings, Essa Stone kitchen benchtops and ducted air-conditioning for an additional $750.
January 1, 2012
Urbanedge Homes is offering a 60 day/60 home “price breaking” special ending on New Year’s Day, in which it has <a target="_blank" href="https://www.urbanedgehomes.com.au/pdf/2011_60daysale.pdf">discounted the price on lots for sale at a number</a> of its Melbourne locations.
January 31, 2012
The last day to take advantage of the Queensland government’s <a target="_blank" href="https://boost.treasury.qld.gov.au/">$10,000 Building Boost Grant</a> applicable to all buyers (including investors) who enter into a contract to build a new house, townhouse or unit.
January 31, 2012
In southeast Queensland, developer Devine is offering <a target="_blank" href="https://www.propertyobserver.com.au/developments/developer-lures-new-home-buyers-with-no-deposit-loans/2011090951488">buyers no-deposit loans for their house-and-land deals up until this date</a>. The offer is aimed at buyers who are eligible for up to $17,000 in government grants including the $7,000 first-home owner grant and the short-term $10,000 building boost grant
May 31, 2012
The deadline for <a target="_blank" href="https://boost.treasury.qld.gov.au/buying-or-building/faqs.php">lodgement of all applications for the Queensland government’s Building Boost Grant</a> with the Queensland Office of State Revenue. However, if your transaction is not completed by that date, you must lodge a notice of intention to apply (preliminary notice) by this date to ensure your later application may be considered.
June 30, 2012
This is last date to take advantage of the Victorian government’s Regional Bonus, which offers $6,500 to first-home buyers who enters into a contract to purchase or build a new home in a regional municipality in Victoria. This is addition to the $13,000 First Home Bonus.  <a target="_blank" href="https://www.sro.vic.gov.au/sro/SROnav.nsf/LinkView/DBFEE9B4136A31E1CA2575CB00012C3265A02CC2EEDDD527CA2575A1004420E8">A list of eligible regional muncipilaties is provided here</a>.
July 1, 2012 
From this date the <a target="_blank" href="https://www.revenuesa.sa.gov.au/fhog/index">South Australian First Home Bonus Grant</a> of up to $8,000 will be halved as part of phasing out of the grant. The grant applies to first home buyers who enter into a contract to purchase or build a new home or commenced construction as owner builders.
July 1, 2013 
From this date the South Australian First Home Bonus Grant (FHBG) will end in its entirety.
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Buying a house-and-land package: 10 key dates to keep in mind

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The Block 2012 filming is well underway on Dorcas Street, South Melbourne, but its key point of difference has yet to get through Port Phillip Council.
<img src="/images/stories/blocksouthmelb.jpg">
The Channel 9 reality television shows – which will headline the 2012 programing launch by the network after its stellar 2011 season – features the formulaic four adjoining properties.
It is Victorian terraces this time – unlike the Richmond cottages last year.
But plans to demolish an adjoining cottage on Montague Street to make way for rear four-car garaging with loft rooms has yet to get through the council.
<img src="/images/stories/da.jpg">
There are three objections to the plans, which are being considered by council staff. It is usually council policy that matters with fewer than 15 complaints are dealt with by delegated authority by council officers and needn't go before a council meeting for final approval.
<img src="/images/stories/blocksouthmelb3.jpg">
Filming began late last month, with the show expected to air in February, with Scott Cam back as the affable host.
Nine has been keeping details of the fifth series a big secret, having not provided any information yet on the contestants.
<img src="/images/stories/blocksouthmelb2.jpg">
But some details of the series are expected to be unveiled at today’s programming and sales launch.
The series – which aired in an expanded format last year – rated more than 1 million viewers daily, with the series finale in August pulling in 3.2 million viewers nationally. 
The production company <a href="https://www.propertyobserver.com.au/news/the-block-sticks-with-made-in-melbourne-formula/2011071150759" target="_blank">spent some some $3.8 million on four unrenovated terraces in Dorcas Street</a>.
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jchancellor-FAypfDUnLy

Sneak peek of The Block 2012 as small stumbling block delays South Melbourne reno

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The rules surrounding what self-managed super funds can do using borrowed funds for are strict. There are limits and the Tax Office, as the regulator of these funds, takes a tough approach.
The reason this issue has come to attention is the recent release by the ATO of a major draft ruling on the circumstances where money borrowed by a self-managed super fund can be applied in maintaining or repairing a single acquirable asset, for example, a property.
With the rapid growth in SMSFs, this ruling when finalised has the potential to affect many people and the way in which they invest their superannuation. Presumably, some might suggest the in-the-doldrums property market could benefit from this ruling. Time will tell!
The draft is quite technical and explains the Tax Commissioner's views on what are known as the limited recourse borrowing arrangement (LRBA) provisions in sections 67A and 67B of the Superannuation Industry (Supervision) Act 1993 (SIS Act).
Broadly, an SMSF is permitted to borrow money (and maintain a borrowing) provided the borrowing is made pursuant to an LRBA. An LRBA entered into from July 7, 2010 (ie. the date the current sections 67A and 67B came into effect) can only be referrable to a single "acquirable asset" held in a holding trust, which the SMSF is not otherwise prohibited from acquiring directly. In addition, a borrowing applied to the original acquirable asset can only be replaced with a "replacement asset" according to the circumstances in s 67B.
The draft ruling outlines where money borrowed under an LRBA can be applied in maintaining or repairing (but not improving) a single acquirable asset.
While borrowings under an LRBA cannot be used to improve an acquirable asset, the Tax Office says money from other sources could be used to improve (or repair or maintain) that asset. However, any improvements must not result in the acquirable asset becoming a different asset.
Acquirable asset
The draft ruling notes that an "acquirable asset" is any form of property (other than money) that the fund trustee is not otherwise prohibited from acquiring under superannuation law. Although "property" can include proprietary rights or the physical objects of proprietary rights (eg. land), the Tax Office says it is necessary to consider the meaning of property in both senses to determine whether money borrowed under an LRBA has been applied for the acquisition of a single acquirable asset.
Single acquirable asset
While money borrowed under an LRBA can only be applied for the acquisition of a single acquirable asset (or a collection of identical assets with the same market value), the Commissioner considers that a single object of property may be acquired notwithstanding that it is comprised of two or more proprietary rights. However, this will only be so where it is reasonable to conclude that the object of the separate proprietary rights is distinctly identifiable as a single asset.
Borrowings applied for repairs (but not improvements)
To determine if an asset has been repaired or maintained (or whether it has been improved), the Tax Office says reference is made to the asset's qualities and characteristics at the time when the asset is acquired under the LRBA. To this end, the Tax Office says an asset is improved if the functional efficiency of the asset (or value) is substantially increased.
If an asset is already owned by an SMSF, and thus not subject to an LRBA, the Commissioner says a borrowing to fund repairs or maintenance for that asset would not satisfy the LRBA provisions.
Repairing the asset
According to the draft ruling, "repairing" means remedying or making good defects in, damage to, or deterioration of, an asset and contemplates the continued existence of the asset.
The Tax Office says a repair restores the functional efficiency of the asset without changing its character and may include restoration to its former appearance, form, state or condition. That is, a repair merely replaces a part of something or corrects something that is already there and has become worn out or dilapidated through ordinary wear and tear, or is damaged whether accidentally or deliberately.
Acquiring asset in need of repair
The draft ruling notes that an asset may be bought in a state in which a part of the asset is defective, damaged or suffering some deterioration of what would be considered to be its normal level of functional efficiency. Accordingly, the Tax Office says a restoration of that part of the asset to its functional efficiency would be a repair (and not an improvement) for LRBA purposes.
However, funds thinking of acquiring a "renovator's delight" need to beware. The Tax Office warns that a substantial renovation of a rundown house would improve the functional efficiency of the asset as well as substantially improve its value and thus would amount to an improvement for which borrowings under the LRBA could not be used.
Improving the asset
In contrast to a repair, the Tax Office considers that an asset is improved if the functional efficiency of the asset (or value) is substantially increased through the addition of new and substantial features or rights or bringing a thing or structure into a more valuable or desirable form, state or condition than a mere repair.
The Tax Office says this is a question of fact and degree to be determined against the state of the asset at the time when the LRBA was entered into. Minor or trifling increases in functional efficiency or value will not amount to an improvement.
Improvements using money not borrowed
While borrowings under an LRBA cannot be used to improve a single acquirable asset that is the subject of the LRBA, the Tax Office says money from other sources could be used to improve (or repair or maintain) that asset. However, any improvements must not result in the acquirable asset becoming a different asset.
A borrowing applied to the original acquirable asset can only be replaced with a "replacement asset" according to the circumstances in s 67B. If the acquirable asset is changed (including by way of improvements) to such an extent that it fundamentally changes the character of the asset such that it becomes a different asset, the exception in s 67A will cease to apply.
However, the Commissioner says that restoring a house destroyed by fire, flood or cyclone by reconstructing a similar house would result in the restoration of the original acquirable asset rather than its replacement.
The draft ruling sets out the following examples to illustrate when a change to a single acquirable asset results in a different asset:
Vacant block on single title: a subsequent subdivision will result in multiple titles. One asset has been replaced by several different assets as a result of the subdivision.
Vacant block on single title: a residential house built on vacant block of land (still single title) will fundamentally change the character of the asset from vacant land to residential premises. This is a different asset.
House and land: house is demolished and replaced by three strata titled units. The character of the asset has fundamentally changed along with the underlying proprietary rights. This has created three different assets.
House and land: land is re-zoned and house is renovated to become commercial premises. The character of the asset has fundamentally changed from residential premises to commercial premises. This is a different asset.
House and land: four-bedroom house destroyed by fire and a four bedroom house is constructed using insurance proceeds. Rebuilding a four bedroom house does not fundamentally change the character of the asset held under the LRBA. Rebuilding the house restores the asset to a house and land.
Date of effect
When finalised, the ruling is proposed to apply to arrangements entered into on or after July 7, 2010 (including an arrangement that is a refinancing of a borrowing of money under an arrangement entered into before, on or after July 7, 2010).
The final ruling may (or may not) be changed from this draft, so those potentially affected should keep an eye out for the final ruling – it is not known when that will be released.
Terry Hayes is the senior tax writer at Thomson Reuters, a leading Australian provider of tax, accounting and legal information solutions.
Terry Hayes is the senior tax writer at <a href="https://www.thomsonreuters.com.au/">Thomson Reuters</a>, a leading Australian provider of tax, accounting and legal information solutions.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/superannuation/20110922-borrowing-smsf-cash-for-property-repairs-the-do-s-and-don-ts">SmartCompany</a>.
 
 
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cknowlton-QnEa6ntUYP

Dos and don'ts of borrowing SMSF cash for property repairs

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Can I do the renovations myself?
You may decide you will be the one to complete or oversee the renovation. Doing the renovations yourself means you have complete control over timing, costs and scheduling as well as saving on labour costs along the way. It can be a great way to go if you have plenty of time, knowledge and skill.
However, if you haven’t renovated before there’s a good chance that you might underbudget the true costs and go well over time. Trying to learn on the job can be pretty tough and even though you can temporarily stop the job when you run out of money, it’s very hard to profit from renting or selling a half-finished property. It might even be worth less than what you bought it for.
My tip is to double your expected cost and double the time frame, and then work out if you’re still going to make a profit. Most of the time, it works out more efficient from a time, cost and stress perspective to outsource the renovation to the experts.
I once had a client who wanted me to buy him a property to renovate as a retirement project. When the time came to renovate, my client asked me to outsource big jobs like the kitchen and bathroom, as they’re best done by specialists who would do it in a fraction of the time.
We then agreed that tiled flooring was best left to an expert and built-in wardrobes left to a different specialist. Five minutes later, the only non-specialist job that he had a hope of completing himself was the painting.
What if I don’t want to do it myself?
If you’ve decided to put your renovation into the hands of the experts, finding a good team of tradespeople and other professionals can be the most challenging part of the job. They often have a different mentality and style of working to other relationships you have in your work roles, so it’s important to build a bond.
A great place to find good tradespeople and other professionals is through recommendations. Ask family, friends, real estate agents, mortgage brokers and buyers’ agents for referrals.
Recommendations from property investors who have completed a number of successful projects are especially valuable.
When dealing with any tradesperson, it’s important that you always ask for details of the insurances they hold and names and numbers of previous customers they’ve worked with. Make sure you actually check these referees to see if the work was carried out to their satisfaction. I often go and see projects that are midway through renovation, as well as ones that have been finished.
There’s also nothing to stop you asking for a guarantee: what penalty will they impose on themselves if they do not complete within a certain timeframe?
When you’ve found your team, the more you use them, the better they’ll work together, as you’ll build trust and learn to iron out little issues. If you’re doing a one-off project as an individual, finding a good team and building an instant relationship can be difficult, and in this instance it could pay to use a project manager.
What is the benefit of using a project manager to handle my renovations?
You may want to consider hiring a project manager to oversee your renovation project.
A good project manager can deal with everything from drawing plans, negotiating them through council and managing the renovation, through to ensuring the final finishes are complete. They can also take responsibility for the costings and timings, and hustle your contractors and tradespeople into gear if they appear to be lagging.
Hiring a project manager can prevent the arguments that tend to arise when you have a number of different parties all doing different pieces of the same job, by clarifying each person’s responsibility and when things need to be done.
The project manager can be anyone from a builder, interior designer or architect to a professional property investor/renovator. Ultimately, it needs to be someone who is experienced, trustworthy and has a team of reliable tradespeople.
Won’t a project manager be expensive?
A good project manager will charge 10% to 20% of the overall renovation cost, which is around $5,000 to $15,000 on a $50,000 to $75,000 project.
I’ve heard of many nightmare scenarios from clients who have struggled before coming to Empire, so I believe that hiring a project manager is well worth the investment.
Here are just a couple of the nightmare stories I’ve heard:
• “The builder didn’t turn up on the first day of the job. On the second day he reversed into the side of the building and put a hole into it. The strata managers and other owners weren’t impressed.”
• “I managed separate tradespeople to renovate the kitchen, bathroom, carpets, blinds, doors, painting, electrical and plumbing. There were so many people to manage and so many unforeseen glitches, and I learned one part of a job needed to be completed before another could start, so the project became a major headache. One person would blame another, no-one would take responsibility, and everyone took advantage of my inexperience. And the longer it took the more money it cost in mortgage payments and loss of rent. Never again!”
You might think you can save a fortune by managing the project yourself, but there are risks in managing a renovation alone.
Tradespeople will know if you’re not a renovating expert, and they may use your lack of experience to their advantage – in terms of costs, timelines and attention to detail.
A tiler might see you in your suit, for instance, and know instantly that you’re not used to dealing with tradespeople, and increase his price. And did you know that jobs can beq uoted at different prices in different suburbs?
You may also fall prey to unscrupulous tradespeople trying to secure a job and increase their prices. The tradesperson might tell you they’re ready to start on the bathroom even while they have a number of other jobs on the go. He might try to juggle all the jobs at once, starting a job on your property, leaving his tools and not coming back for four weeks until he’s ready to begin in earnest. Because your tradesperson has started, no one else will take on the job and you’re stuck waiting.
Unless you’re prepared to be on site every day to manage what’s going on, I recommend leaving project management to an expert. Weigh up the cost of your time away from work, the chances of being charged higher prices and the likelihood of the project taking twice as long.
A project manager who does renovations frequently can negotiate with tradespeople better than you, and has better buying power for trades. They should also be good at negotiating on costs, timelines and maintaining the quality of the work on your behalf.
How long should my renovations take?
A pre-planned kitchen and bathroom renovation should take four to six weeks. Many property investors who manage the projects themselves find this impossible because they fall into one of the most common traps: choosing tradespeople based on price alone.
I don’t often use the cheapest tradesperson. I choose those that can do the best job in the shortest amount of time. The cheapest will often do the job in their own time, but the faster the tradesperson, the quicker you will place tenants in the property.
You could pay $1,000 to get some students to paint your property, you could pay $2,000 to get a painter or you could pay $4,000 to get a master painter. There will be a guaranteed difference in the quality of the finish. Which one is right for you to use will depend on the type and quality of the property you’re renovating, your budget, and the potential benefits you’ll receive when a potential renter or buyer falls in love with your property.
What are the types of profits I can generate with a quality renovation?
The results can be seen in cold hard cash. On a typical project we might buy a two-bedroom unit for $600,000, invest around $75,000 into a four to six week renovation, and then get a valuation of around $700,000 to $720,000, generating a healthy $25,000 to $50,000 profit.
On a block of units we bought for $1.9 million, we renovated for $600,000 and four months later, the bank refinanced at $3.5 million – giving us a whopping $1 million profit in under four months.
On another job, we applied to council to add two penthouses to a block of units and the architect has managed to squeeze a second block of units in the back garden, and that’s in a prime position almost opposite the beach. At times, we’ve been overseeing a dozen renovations at one time and had teams of tradespeople working with a smile on their face, even through Christmas and New Year’s.
Delegating or outsourcing your work is a key ingredient to successful property investing. It took me my first few projects to build relationships, negotiate fair prices and balance our communication styles, but now a system has been built. I now receive a daily call from my project manager with an overview of what’s going on, any issues or decisions to be made and when they are due to be completed. I have so much confidence in my team that I only need to turn up on site when the job is completed.
My clients don’t receive any calls from tradespeople as everything is managed on their behalf. Instead, they prefer to receive a financial report before and after the renovation. This tells them how much money they’ve made. After all, it’s a financial decision, not an emotional one.
Top tips
There are a few quick and easy changes you can make to boost the price of your property with a low-fuss renovation:
• Clean – it’s amazing how a thorough clean increases the appeal of a home.
• Paint inside and out.
• Re-carpet or polish the floorboards.
• Tidy or landscape the garden.
• Change the light fittings, switches and sockets.
• Instead of a new kitchen, simply change the kitchen cupboard doors.
These further renovations are more expensive, but can increase the value of your home significantly:
• Replace the kitchen and bathroom – this is usually the best way of increasing a property’s value.
• Extend out the back or into the roof space.
• Convert the garage into a living space or bedroom.
• Build a carport.
• If you can, subdivide and add another residence or put a granny flat in the back garden – two incomes are always better than one.
Resources
For a handy renovations checklist, helpful information and other tips to keep your
project moving forward, visit “What’s the best way to renovate?” at yourempire.com.
au/in-the-media-journal.
Check with your local Fair Trading Office to see what licenses your tradespeople need,
and check that their license is still valid. You can find more details on the website for
your state office of fair trading:
• <a target="_blank" href="https://www.fairtrading.nsw.gov.au/default">fairtrading.nsw.gov.au</a>
• <a target="_blank" href="https://www.consumer.vic.gov.au/CA256EB5000644CE/HomePage?ReadForm&amp;1=Home~&amp;2=~&amp;3=~">consumer.vic.gov.au</a>
• <a target="_blank" href="https://www.fairtrading.qld.gov.au/">fairtrading.qld.gov.au</a>
• <a target="_blank" href="https://www.consumer.tas.gov.au/">consumer.tas.gov.au</a>
• <a target="_blank" href="https://ocba.sa.gov.au/">ocba.sa.gov.au</a>
• <a target="_blank" href="https://ors.act.gov.au/">ors.act.gov.au</a>
• <a target="_blank" href="https://commerce.wa.gov.au/index.htm">commerce.wa.gov.au/index.htm</a>
<a target="_blank" href="https://www.nt.gov.au/justice/consaffairs/index.shtml">nt.gov.au/justice/consaffairs/index.shtml</a>
Chris Gray is CEO of <a href="https://www.yourempire.com.au/" target="_blank">E</a><a href="https://www.yourempire.com.au/" title="Empire Property Portfolios" target="_blank">mpire Property Portfolios</a> and appeared on Channel Ten show The Renovators.
This is an excerpt from<a target="_blank" href="https://www.themessengergroup.com.au/shop/realestate/property-investing-the-australian-way-3/"> </a><a target="_blank" href="https://www.themessengergroup.com.au/shop/realestate/property-investing-the-australian-way-3/">Property Investing The Australian Way</a>, published by The Messenger Group.
For expert commentary and analysis on lessons to be learnt from property reality TV, <a href="https://register.propertyobserver.com.au/lights-camera-auction/" target="_blank">download our e-book Lights, Camera, Auction! </a>
 
 
 
 
 
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chrisgray-pn7di3ceFk

When you should turn your DIY reno project over to the professionals: Chris Gray

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New house and land activity in Sydney is expected to double over the next two years, according to property market analysts BIS Shrapnel.
Sydney lot production is expected to rise from the current estimated 3,000 lots per annum to a peak of 6,100 lots per annum by 2013-14 as outer Sydney accommodates much of the upturn in new house activity, according to BIS Shrapnel’s Outlook for Residential Land, 2011 to 2016.
This is still below the 7,600 lots per annum average over the five years to 2001 and reflects the still-high cost of land, which will maintain the shift to less expensive medium- and high-density dwellings and infill and knockdown development in established areas.
Further strengthening of economic conditions and income growth will improve the relative affordability of new housing in Sydney, the report says.
Melbourne has been the hotspot for new housing development in Australia over the past five years, with more than 16,000 lots produced annually from 2006 to 2011. However, this is forecast to decline to an annual average of 15,000 over the next five years.
 
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" rowspan="2" width="130">
City/Region
</td>
<td valign="top" colspan="4" width="270">
Average Annual Lot Production 
</td>
</tr>
<tr>
<td valign="top" colspan="2" width="135">
<table cellpadding="0" cellspacing="0" border="1"><tbody><tr>
<td valign="top" width="64">
2006-2011 
</td>
</tr></tbody></table>
</td>
<td valign="top" colspan="2" width="135">
2011-2016 Forecast
</td>
</tr>
<tr>
<td valign="top" colspan="2" width="133">
Sydney
</td>
<td valign="top" colspan="2" width="133">
2,368
</td>
<td valign="top" width="133">
5,660
</td>
</tr>
<tr>
<td valign="top" colspan="2" width="133">
Perth
</td>
<td valign="top" colspan="2" width="133">
7,719
</td>
<td valign="top" width="133">
10,160
</td>
</tr>
<tr>
<td valign="top" colspan="2" width="133">
Birsbane
</td>
<td valign="top" colspan="2" width="133">
5,760
</td>
<td valign="top" width="133">
6,520
</td>
</tr>
<tr>
<td valign="top" colspan="2" width="133">
Gold Coast
</td>
<td valign="top" colspan="2" width="133">
1,817
</td>
<td valign="top" width="133">
1,760
</td>
</tr>
<tr>
<td valign="top" colspan="2" width="133">
Sunshine Coast
</td>
<td valign="top" colspan="2" width="133">
1,932
</td>
<td valign="top" width="133">
1,940
</td>
</tr>
<tr>
<td valign="top" colspan="2" width="133">
Melbourne
</td>
<td valign="top" colspan="2" width="133">
16,232
</td>
<td valign="top" width="133">
15,000
</td>
</tr>
<tr>
<td valign="top" colspan="2" width="133">
Adelaide
</td>
<td valign="top" colspan="2" width="133">
3,150
</td>
<td valign="top" width="133">
2,700
</td>
</tr>
</tbody></table>
 
New house and land activity softened or fell in all major markets in 2010/11, due to the expiry of the First Home Owner’s Grant Boost Scheme, the sharp interest rate rises in 2009-10 (and further rise in November 2010), and slowing economic growth through the year, according to the report.
The fall in lot production was most profound in the southeast Queensland markets of Brisbane, the Gold Coast and Sunshine Coast, which collapsed to long-term lows, reflecting the underlying oversupply of dwellings across the region.
All other capital cities with the exception of Sydney and Perth also experienced a fall in lot production in 2010/11
After record lot production in Melbourne and new record levels in Adelaide in 2009-10, any pent-up demand pressures have now well and truly eased, and activity is slowing, the report says.
According to senior project manager and report series author Angie Zigomanis, in addition to the rising deficiency developing in a number of markets and the benign interest rate outlook driving a return of purchaser confidence, first-home buyer demand also appears to have bottomed out, “with the ‘pull forward’ effect created by the First Home Owner’s Grant Boost Scheme having been largely worked through”.
“We expect a slow recovery in first-home buyer demand through 2012, which will help to underpin upgrader demand for new houses and land.”
As a result BIS Shrapnel forecasts the residential land market to pick up nationally over 2011-12, and accelerate over 2012-13 as economic growth also strengthens.
Over 2013-14 the environment will begin to deteriorate again as interest rate rises eventually have an impact across all markets. The gains in employment and income growth up until then will overcome some of the initial rises and will continue to support activity.
But as inflationary pressures become more acute as the resource investment boom peaks and creates skills shortages and wages pressure, a sharp tightening in interest rates is expected, taking the standard variable rate to a forecast peak of 8.75% in the first half of 2014. This will have a negative impact not only on residential demand, but the economy as well, with residential activity forecast to enter a downturn over 2014-15, BIS Shrapnel says.
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Sydney house and land development to double in next two years: BIS Shrapnel

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It took just 29 seconds for Stockland to sell 40 lots in its Brooks Reach community at Horsley in the Illawarra in an online sale. 
The lots sold online ranged in size from 550 square metres to 700 square metres priced around the early to mid $200,000 range. They were sold online to avoid potential buyers camping out to secure a lot.
The lots were part of a batch of 70 sold in the first week of trading in the newly opened community. 
Brooks Reach is the first masterplanned community to be launched in the area in the past decade. 
It will include about 600 new homes at completion and is the first land to come on line as part of the 4,700-hectare West Dapto Land Release Area announced by the New South Wales government last year.
The community will also be the location of a 34-home display village to be completed by March 2012 and anticipated to be the largest for the Illawarra.
The current average price for a home in the area is $430,000, while the average house-and-land package at Brooks Reach will be around $410,000. 
According to Stockland residential communities CEO Mark Hunter the result continued the recent general improvement in customer sentiment and buying activity in New South Wales. 
“The majority of buyers come from within a 10-kilometre radius of Horsley, demonstrating that there is demand for good affordable product in the fast-growing Illawarra region,” Hunter says. 
To further boost affordability, Stockland will also be releasing smaller lots from 300 square metres to 450 square metres in the next quarter. 
Stockland estimates that more than 3,000 construction-related jobs will be generated for the Illawarra community over the life of the project. 
Stockland’s investment in the Illawarra also includes the $330 million redevelopment of its Stockland Shellharbour shopping centre, only a 15-minute drive from Brooks Reach.
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Stockland takes 29 seconds to sell 40 Illawarra lots in online blitz

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It’s easy enough to paint some bedrooms, sand the floorboards and call yourself a renovator. Anyone can slap paint on a wall, but knowing exactly what you need to do to improve a space and increase a property’s overall value requires expert knowledge, which many people do not have.
How do you know if the tiler you’ve chosen has quoted the right price? Will your bathroom and kitchen really take two weeks as promised – or will it drag out to two months? And should you always go with the cheapest quote?
As with all aspects of property buying and investing, renovations require careful planning and execution. Investors must bear in mind that the purpose of renovations is to maximise the property’s equity, so the profit is often in the decision-making, not necessarily in picking up the tools.
Why should I renovate?
Renovating your investment property can give you capital growth, even in a flat market. The instant profits that come from a renovation can be used to help fund any negative cash flow. At the same time, undertaking careful upgrades will prevent maintenance for years to come, giving you a hassle-free, passive investment. So far, so good – but very few property owners know how to get these results without any stress.
If the renovations are carried out correctly and with the right advice, you can make tens of thousands of dollars in equity in the first year alone. It can be as simple as new paint and new carpet, or it can be as complex as a complete gut and refurbishment.
How much should I spend?
There’s no hard and fast rule on this but it’s always a good idea to engage an independent and impartial property valuer before commencing your renovation. You can easily become emotional when buying and renovating property, but when you become too emotionally involved, it usually leads you to overcapitalise because you get carried away and believe that the more you spend on the project, the higher its final value. On the other hand, if you undercapitalise, potential tenants or prospective buyers are likely to obtain a discount on the property as it hasn’t been renovated to its true potential.
Many amateurs make renovation plans, believing that a $30,000 kitchen renovation will add $50,000 to the property’s value. A good valuer will know that homes in the street won’t sell above a certain value – even with a new kitchen – and the renovator would be lucky to add $30,000 value.
In this scenario, a valuer may suggest spending just $10,000 on simple improvements such as new cupboard doors, benchtops and flooring, which could add $20,000 to $30,000 to the equity, which is double or triple the investment.
Property valuers are best found through recommendations, internet searches or asking their industry body, the Australian Valuers Institute. I recommend you find a local valuer as they’ll know the prices in your area well, along with the type of demographics that would appeal to your particular property.
What can I do myself to keep costs down?
On much larger jobs you could pull in a quantity surveyor who can provide you with a list of what labour and materials cost on certain jobs. This will ensure you’re not overcharged. The quantity surveyor can also provide a depreciation report on the additions you have made to highlight all the deductions you can claim on your tax return.
You should also always go to tender and get a number of quotes, using the first quote to ensure that everyone is quoting “like for like” on a line-by-line basis. This is where many people get caught out.
Let’s say you’ve asked for three quotes to paint the front mailbox of your duplex. One quote includes priming, painting and weatherproofing. The next quote includes painting the letterbox and repair of the broken latch. The third quote includes painting and weatherproofing, with free paint touch ups to any scratches over the next 12 months.
Can you see how difficult it is to compare these three quotes, when they each outline different work? You need to compare apples with apples, so make sure you detail the specifics of the job, and ask each supplier to supply (in writing) the guarantees they offer, such as a fixed price, penalties should the job go overtime, warranties on workmanship and so on.
Another approach is to look at a “fixed fee” versus “cost plus”. A fixed fee will cap what you pay, but may include a fat contingency for the builder for unforeseen problems. “Cost plus” can work out cheaper if all goes to plan. If you do lots of jobs or you are completing a big project, you could always see if a builder will do a joint venture instead and work for a percentage of a profit after sale or revaluation.
Where do I start?
Start by choosing the right property, making sure it is an unemotional investment, as opposed to an emotional home purchase.
Are you looking to buy, renovate and sell, or buy, renovate and hold? If you’re selling it’s imperative that there is an immediate and almost guaranteed profit in the deal. If you’re looking to hold, you need to buy the right property that will continue to grow strongly forever. The renovation profit in a hold strategy is more about icing on the cake, maximising your rental return and ensuring you have minimal maintenance to do in the future.
Next, work out a rough time and cost budget. If you want to renovate for profit, every extra dollar you spend has to give you at least one to two dollars in added value. Be mindful of how long your renovation will take as every day costs you another 24 hours’ worth of repayment on the mortgage, with no rent coming in.
Consider adding a 20% to 25% contingency for unforeseen expenses that always seem to crop up once you strip off the tiles or wallpaper. It’s all about being prepared for the worst, so check your finances to see what funds you have available, if the renovation takes a turn for the worse.
Chris Gray is CEO of <a target="_blank" href="https://www.yourempire.com.au/">E</a><a target="_blank" title="Empire Property Portfolios" href="https://www.yourempire.com.au/">mpire Property Portfolios</a> and appeared on Channel Ten show The Renovators.
This is an excerpt from<a href="https://www.themessengergroup.com.au/shop/realestate/property-investing-the-australian-way-3/" target="_blank"> </a><a href="https://www.themessengergroup.com.au/shop/realestate/property-investing-the-australian-way-3/" target="_blank">Property Investing The Australian Way</a>, published by The Messenger Group.
For expert commentary and analysis on lessons to be learnt from property reality TV, <a target="_blank" href="https://register.propertyobserver.com.au/lights-camera-auction/">download our e-book Lights, Camera, Auction!</a>
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A DIY guide to renovating for profit: Where to start with property renovations: Chris Gray

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A South Sydney residential development site has been sold for a bullish $7,188,000.
The 4,843-square-metre site  at 78-82 Bay Street, Botany was offered with a two-year leaseback to the University of NSW. The university bought it in two purchases, paying $1,225,000 in 1992 for a 3,439-square-metre portion and then the remainder from Botany Glass for $1.25 million in 1997.
“This was an ideal South Sydney development site positioned in a quiet residential location close to all necessary amenities,” its Colliers International Sydney selling agent Guillaume Volz suggests.
“With a continued shortage of sites available this was an ideal opportunity to secure a quality property with time to add value and profit,” conjunctional Colliers International South Sydney agent Michael Crombie adds.
It came with a proposed zoning R3 medium-density residential with a proposed 22-metre height limit and a proposed floor space ratio up to 1.5:1.
Auctioneer Damien Cooley from Cooley Auctions opened the bidding at $4.1 million.
 
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UNSW pockets $7 million for South Sydney apartment development site

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Sydney architect Domenic Alvaro’s strikingly small Surry Hills house, which looks like a slimline prefab concrete umbrella stand, has been awarded the World House of the Year at the prestigious 2011 World Architectural Festival award ceremony in Barcelona.
The house – known as Small House – was credited not only for its exceptional architectural and interiors features, but also for presenting a solution to the long-standing issue of urban sprawl.
<img src="/images/stories/smallhouse1.jpg">
It was conceived after buying three car spaces on a corner in Surry Hills and building a five-storey house above it. It comes with a floor space of 220 square metres on its tiny 42-square-metre plot.
Inspired by architects in Tokyo who work with incredible small spaces, the house is built from prefabricated concrete that can be moulded offsite and assembled onsite in four days.
The block had cost $230,000 in 2008.
The award-winning property, owned by architect Domenic Alvaro and his partner, Sue Bassett, was featured in the first series of Grand Designs Australia after its 2010 completion by the builder Nicholas Bettar, from Baseline Constructions.
<img src="/images/stories/smallhouse2.jpg">
“I am incredibly thrilled to have been presented with this prestigious award,” Alvaro, the principal at Woods Bagot Sydney studio, says. Woods Bagot’s commercial projects have included the Qantas Club Lounge in Sydney.
“Sydney’s urban landscape needs an injection of innovation as the city looks to more efficient use of urban areas to accommodate population growth.
“Small House was designed not only to be my own home, but also to test a development model for downtown urban living as an alternative to the ubiquitous luxury apartment,” Alvaro notes.
“Small House investigates a new typology in the current urban living space, whilst still reflecting a contemporary lifestyle full of diversity and creativity.”
<img src="/images/stories/smallhouse3.jpg">
Wedged between an old terrace and an industrial building, the house was built upwards rather than outwards, given the site was so small it can fit into the double garage of a typical sprawling suburban home.
“The philosophy of small house proposes to build upwards rather than outwards, by assigning multiple uses to single spaces, with flexibility for change in the future,” Alvaro adds.
Like many traditional homes, the kitchen is the social hub of the house, central to the other living zones.
With entries from internationally renowned practices to small local architects across the globe, Alvaro’s entry competed against 18 short-listed projects, WAF program director Paul Finch noted.
<img src="/images/stories/smallhouse4.jpg">
Woods Bagot is a global studio with more than 800 staff working across North America, Europe, Asia, Australia and the Middle East.
Small House is a multi-award winning project, having won Residential Architecture (Houses) and Small Project Architecture at the NSW Australian Institute of Architects Awards; and New House under 200 square metres and the Outdoor category (in collaboration with 360°Landscape Architects) at the annual HOUSES Awards.
<img src="/images/stories/smallhouse5.jpg">
Despite the tiny size of the parcel of land, the house has three bedrooms, two bathrooms, living, kitchen and dining areas.
Costing about $650,000, the house is zoned vertically:
Ground floor: utility/ store/bicycle/parking
First floor: sleeping/bathing, storage
Second floor: living (with optional additional zone)
Third floor: food prep/eating/entertainment, topped by a working roof garden terrace, all connected via a series of stairs.
Roof: a “working” roof garden terrace (the circulation space enables a small study on the roof space, and the panel sliding doors open to enable the roof to become the fifth room of the house – albeit an outdoor room – and herb and flower garden with over-scaled fig tree, thus creating a canopy effect.
Photographs (except first photograph) by Trevor Mein
 
 
 
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