High-profile apartment defect cases have changed the way many NSW buyers approach purchasing, putting greater scrutiny on building quality, strata records and the parties behind a development before a contract is signed.

The industry buyers are assessing today, however, is also different from the one in which cases such as Opal Tower and Mascot Towers emerged.

NSW has introduced a series of regulatory measures aimed at strengthening oversight of apartment construction, including Building Commission NSW, the Residential Apartment Buildings Act 2020 and the Strata Building Bond and Inspections Scheme. Under the latter, developers are required to lodge a bond, with independent inspections forming part of the process for identifying defects in new strata developments.

Those changes provide another layer of protection, but they haven't removed the importance of buyer due diligence.

[smartcode_project:default project_id=5743 project_image_fid=372394]

For purchasers considering an apartment, that means looking beyond the residence itself. Building and strata history, strata reports, the track record of the builder and developer, the condition of common property and any known or planned expenditure by the owners corporation can all form part of assessing a building before purchase.

Whether the development is already complete can also materially change what can be assessed.

An off-the-plan purchaser is necessarily buying before the finished product exists. A completed apartment, by comparison, can be walked through before contracts are signed, allowing the purchaser to see the finishes, common areas and broader building as they have actually been delivered rather than relying solely on plans and renders.

It also removes exposure to some of the uncertainties that exist between an off-the-plan purchase and completion, including construction delays, cost pressures and builder insolvency during the delivery period.

[smartcode_project:default project_id=5743 project_image_fid=927]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a> National Sales Director Ben Hamblett said that greater focus on tangible evidence is increasingly evident among apartment purchasers.

“The biggest shift we're seeing is buyers wanting proof, not promises,” Hamblett said.

“That's exactly why we deal in completed stock - you can inspect the building before you commit - and why we've backed every purchase with a cash bond against special levies.”

At <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> in Parramatta, that emphasis on a completed, inspectable product is already in place.

The 413-apartment, 46-level tower at 12 Phillip Street is being marketed by Projects by Equitifund, allowing prospective purchasers to inspect the residences, common areas and resident facilities before committing.

[smartcode_project:default project_id=5743 project_image_fid=375255]

The Lennox also introduces another layer to the due-diligence conversation through Strata Surety.

The vendor-funded arrangement provides purchasers with a cash-backed bond held in their own solicitor's trust account from settlement. According to Equitifund, the bond covers any special levy raised during the applicable cover period and is provided at no cost to the purchaser.

Special levies can create an unexpected cost for apartment owners where an owners corporation needs funding beyond its existing strata contributions. Under NSW strata law, a special levy requires approval by owners at a general meeting.

Equitifund Executive Chairman Greg Huxley said Strata Surety was designed to provide something more concrete than reassurance about that potential exposure.

“Buyers have every right to ask hard questions about strata risk - the industry has given them plenty of reasons to,” Huxley said.

“Our answer isn't a reassurance, it's a bond. Strata Surety puts real money behind that confidence, held by the buyer's own solicitor, not by us.”

[smartcode_project:default project_id=5743 project_image_fid=375281]

For The Lennox, its completed status also means purchasers can assess not only the apartment itself, but a building that has already been occupied and operating for several years.

Completed in 2021, the $300 million development, designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, comprises one, two, three and four-bedroom apartments, with open-plan living areas extending to private balconies. Interiors incorporate engineered timber flooring, stone benchtops and integrated appliances, while many upper-level residences have views across the river and surrounding district.

Its established amenity can similarly be inspected in operation. Resident facilities include the Watermark precinct with a 20-metre pool, outdoor terrace, barbecue areas, gym, fitness studio and conference room, while ground-floor retail addresses the river walk and surrounding public space.

The Lennox is also home to the Southern Hemisphere's first fully robotic residential car park, which has now operated for several years. Its nine-level basement combines three conventional parking levels with six automated levels, accommodating 327 vehicles using technology from German firm Lödige Industries.

[smartcode_project:default project_id=5743 project_image_fid=925]

The riverfront address puts The Lennox close to much of central <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a>'s existing infrastructure, including Parramatta Station, Westfield Parramatta, Parramatta Park, and the Church Street dining precinct.

The remaining apartments form part of a limited release secured by Equitifund, following the sale of the majority of residences before and shortly after completion.

The regulatory environment around NSW apartment construction has changed considerably since the defect cases that reshaped public discussion around the sector. For purchasers, however, regulation is only one part of the equation. The ability to investigate a building's history, review its strata position and, where possible, inspect what has actually been delivered remains central to making an informed apartment purchase.

At The Lennox, its completed status provides that opportunity before contracts are signed, while Strata Surety adds a financial backstop against special levies beyond the protections already provided under NSW strata law.

[smartcode_project_cta:default project_id=5743]

Joel Robinson

Buying with confidence: What NSW apartment buyers should check beyond the defect headlines

Too often, heritage buildings become the podium for a contemporary tower. At <a href="https://www.apartments.com.au/new-apartments/623-collins-607-623-collins-street-melbourne-vic-3000">623 Collins</a>, <a>Sterling Global</a> challenged its design team to reverse that process.

The brief to <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> was deliberately simple: "Don't design around the heritage. Design from it." It became the philosophy behind a project that draws inspiration not only from two landmark heritage buildings, but from Collins Street itself, a street layered with architectural history and civic significance.

That philosophy has shaped one of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a> CBD's most considered residential projects, where the 1924 State Savings Bank and neighbouring Batman's Hill Hotel have become the architectural foundation for 623 Collins rather than remnants preserved beneath a new development.

[smartcode_project:default project_id=145324 project_image_fid=372749]

Rather than approaching the site as a blank canvas, <a href="https://www.apartments.com.au/developers/sterling-global">Sterling Global</a> saw the existing buildings as the beginning of the story.

"Sites like this rarely become available," the developer said.

"623 Collins wasn't simply an opportunity to develop a prominent CBD site. It was an opportunity to restore and reimagine one of Melbourne's important heritage landmarks while contributing to the continued evolution of Collins Street. For us, the existing buildings weren't constraints. They were the beginning of the story."

Instead of mimicking the ornate heritage architecture, Plus Studio studied the proportions, rhythm and craftsmanship of the original buildings before translating those characteristics into a contemporary 42-storey tower.

[smartcode_project:default project_id=145324 project_image_fid=372748]

"The brief challenged us to create a contemporary landmark that respected Melbourne's architectural history without becoming nostalgic," Plus Studio said.

"Rather than mimicking heritage, we sought to understand its proportions, rhythm and material language before translating those qualities into a distinctly contemporary architectural expression."

The practice says the State Savings Bank and Batman's Hill Hotel became the project's primary source of inspiration, allowing the heritage buildings and contemporary architecture to exist "in conversation rather than contrast." Generous planted terraces further soften the transition between old and new, creating elevated green spaces while reinforcing the dialogue between the restored podium and the contemporary tower.

That dialogue continues throughout the interiors, where Melbourne designer Fiona Lynch developed a material palette inspired by the idea of alchemy, balancing contrasting materials that reference both the Neo-Grec detailing of the original bank and contemporary urban living. The result is a series of spaces that feel timeless rather than trend-driven.

[smartcode_project:default project_id=145324 project_image_fid=354343]

The project will deliver 316 residences across four collections, Heirloom, Signature, Reserve and the Penthouse Collection, with each responding differently to its position within the building, from the restored heritage podium through to the upper levels of the tower. The Heirloom Residences retain defining heritage elements including original heritage windows, generous proportions and high ceilings, while the tower introduces contemporary homes with expansive layouts and elevated views.

Amenities have likewise been designed to support long-term city living rather than short-stay convenience. Residents will have access to concierge services, wellness facilities including a pool, cold plunge, sauna, steam room and gym, alongside private lounges, entertaining spaces and dedicated resident clubs.

Sterling Global says that approach is resonating with buyers seeking permanence rather than novelty.

[smartcode_project:default project_id=145324 project_image_fid=354347]

According to the sales team, purchasers are looking for enduring architecture, generous floorplans, heritage character and long-term value, with many commenting that 623 Collins "doesn't feel like another apartment development" because of the way the architecture has been curated around the site's history.

Situated on the prominent corner of Collins and Spencer streets, the project occupies one of Melbourne's most recognisable gateway sites, marking the western entrance to the city's best-known street. For Sterling Global, it also reflects a broader shift in city-making.

"Rather than maximising development yield, the project embraces adaptive reuse as a design philosophy, allowing heritage to inform architecture, interiors and the overall resident experience," the developer said.

"The result is a building that feels uniquely connected to Melbourne."

[smartcode_project_cta:default project_id=145324]

How Sterling Global designed 623 Collins from Melbourne's history

Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
Recent information is consistent with global growth running a bit below average this year, with reasonable prospects of a pick-up next year. Commodity prices have declined from their peaks, but generally remain at high levels by historical standards. Inflation in most countries remains well contained.
Overall, global financial conditions remain very accommodative, though the recent reassessment by markets of the outlook for US monetary policy has seen a noticeable rise in sovereign bond yields, from exceptionally low levels. Volatility in financial markets has increased and has affected a number of emerging market economies in particular. Notwithstanding the higher volatility, Australian institutions have ample access to funding markets.
In Australia, the economy has been growing a bit below trend over the past year. This is expected to continue in the near term as the economy adjusts to lower levels of mining investment. The unemployment rate has edged higher. Inflation has been consistent with the medium-term target. With growth in labour costs moderating, this is expected to remain the case over the next one to two years, even with the effects of the recent depreciation of the exchange rate.
The easing in monetary policy since late 2011 has supported interest-sensitive spending and asset values, and further effects can be expected over time, including from the declines in rates seen over recent months. The pace of borrowing has remained relatively subdued, though recently there are signs of increased demand for finance by households.
The Australian dollar has depreciated by around 15 per cent since early April, although it remains at a high level. It is possible that the exchange rate will depreciate further over time, which would help to foster a rebalancing of growth in the economy.
At today's meeting, the Board judged that the setting of monetary policy remained appropriate. The Board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target.
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po-LsXgBTHBmX

RBA Governor Glenn Stevens' September statement

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Coalition leader Tony Abbott has pledged to resurrect the Australian Building and Construction Commission within 100 days of winning government, but experts say the move is a step backwards.
The ABCC was absorbed into the Fair Work system in 2012, but a report prepared by Coalition MPs reportedly states the commission could be up and running shortly after the election, according to Fairfax.
But returning to the ABCC, industrial relations experts say, would be a backwards step.
“It’s not as though the ABCC was abolished and no one picked up its functions,” TressCox Lawyers partner Rachel Drew said this morning.
The Coalition has met with members of the Construction, Forestry, Mining and Energy Union, although Australian Council of Trade Unions assistant secretary Tim Lyons told Fairfax the meetings weren’t necessarily productive: “It’s fairly clear that they have got a fixed view about what they are going to do”.
While the Coalition has said for months it plans to reinstate the ABCC, this is the first indication it could do so extremely quickly.
Coalition MP Paul Fletcher, in charge of the report, was contacted but no response was available prior to publication.
The report comes a week after the Master Builders Association released a new Econtech report arguing reinstating the ABCC <a href="https://www.smartcompany.com.au/politics/057229-the-shaky-foundations-of-the-coalition-abcc-promise">would deliver $7 billion in benefits to consumers</a>.
The ABCC attracted controversy during its time for extreme investigatory powers. Disbanded in 2012, the ABCC’s responsibilities have been handed to the Fair Work Building and Construction inspectorate, albeit with less wide-ranging powers.
Drew says there were good reasons why the ABCC was abolished, as there were “issues of whether or not it was acting impartially”.
“I could understand if they want to change the role of the current commission, or to make some changes,” she says.
“The building and construction industry is a big enough industry that it needs its own commission. But to return to the ABCC itself just seems like a backwards step.”
Reinstating the ABCC is just one part of the Coalition’s industrial relations policy, which includes changing bargaining rules, allowing more changes to individual flexibility agreements, creating an appeal division of Fair Work and ordering a Productivity Commission review of Fair Work laws.

<hr>
This article was originally published on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
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pmcstafford-pr9eMARWoN

Experts not to keen on the Coalition's plan to resurrect Building and Construction Commission

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It would be fair to say that the vast majority are well and truly over all the policies on the run that our politicians keep throwing at us on a daily basis.
Nearly all will never see the light of day (well not in our lifetimes anyway) which would explain why the general public are over the electioneering over promising and generally taking electorates for fools.
Unemployment is an obvious concern with the three M’s struggling – manufacturing, mining and motor vehicles all facing challenges in the short–term. Of great concern, and this in my opinion should be priority number one although it barely rates a mention out on the hustings, is that <a title="The wheels have fallen off the construction industry." href="https://www.propertyobserver.com.au/economy/the-wheels-have-fallen-off-the-construction-industry-michael-matusik/2013082864637" target="_blank">the wheels have fallen off the construction industry.</a>
“Here is a good question for you. Which industry is Australia’s largest? One might think it would be mining, given the amount of airplay it gets. But with about 8,500 business operations you would be way, way off. Have another go. Public administration? Wrong. Professional services? Incorrect. Retail? No."
“The answer is construction, with just over 350,000 businesses operating across the country. One in every sixth business in Australia builds something. Sadly, however, the building game must be on the nose because 5,575 construction – related businesses stopped trading over the last twelve months,” said Michael Matuisk.
You never heard it mentioned in the debates that Australia’s construction industry finds itself at record lows.
On the flip side it is reassuring to see that NSW has turned the corner thanks to a state government focussed on infrastructure. Premier Barry O’Farrell announced that the number of properties being constructed in Sydney has reached a 10–year high.
The majority of these works are happening exactly where they should be – Parramatta, Camden, Liverpool and the Hills District – the flow-on affect following the North West and South West Rail Links, WestConnex and M5 widening.
The Australian Bureau of Statistics (ABS) latest data identified the value of construction in the June quarter of 2013, registered a seasonally adjusted – 0.3% fall and 0.9% over the year. Analysts had predicted a 1.0% increase over the quarter.
One of the reasons why construction is suffering, along with manufacturing, mining and motor vehicles is blatantly obvious in the graph below.
<a href="https://www.rwm.com.au/files/2013/08/20-08-2013-3-48-58-PM.jpg" style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; font-style: inherit; font-family: inherit; vertical-align: baseline; color: #be002d; text-decoration: none;"><img class="aligncenter size-full wp-image-8167" alt="20-08-2013 3-48-58 PM" src="https://www.rwm.com.au/files/2013/08/20-08-2013-3-48-58-PM.jpg" width="470" height="352" style="margin: 0px auto; padding: 0px; outline-width: 0px; font-style: inherit; font-family: inherit; display: block; max-width: 100%;"></a>
One part of the electioneering I have found interesting is discussions about technology and how our economy will now be described as the digital economy according to Malcolm Turnbull.
Delloitte recently released an intriguing report <a title="Connected Small Business - how Australian small businesses are growing in the digital economy" href="https://www.deloitte.com/view/en_AU/au/insights/browse-by-content-type/media-releases/353dcb8dd760e310VgnVCM1000003256f70aRCRD.htm" target="_blank">Connected Small Business – how Australian small businesses are growing in the digital economy</a>. It is well acknowledged that Australia faces enormous challenges in the foreseeable future competing with overseas products – and that's why all businesses need to adhere to a strict online platform if they are to succeed; “The online world opens up huge opportunities for small business across the country and holds the potential for a broader economy – wide transformation."
More particularly “Australia’s substantial small and medium–size business sector… contributed $530 billion to the economy in 2010–11, over half of private sector economic activity, and employed over seven million people, generating more than two thirds of private sector employment.
“A national survey of 500 small businesses measured their level of digital engagement, such as having a website with business information or the use of digital marketing to attract customers.”
“Small businesses making full use of the internet with high digital engagement enjoy better business outcomes, with a $350,000 or 20% increase in annual revenue. “
Digital engagement of Australian small business:
<ul>
<li>
16% – SMB’s making the most of the web with high digital engagement. (I would place our business in this category.)
</li>
<li>
25% – SMB’s that have medium digital engagement.
</li>
<li>
24% – SMB’s have low digital engagement
</li>
<li>
35% – SMB’s that have very low digital engagement and do not use the internet at all
</li>
</ul>
I would suggest that if you fall into the bottom two categories your business will be closed within three years’ time. I think the digital economy is one of the most important and exciting transformations that the world has ever seen. I remember reading about a decade ago “Get e–based or e–rased.”
 
<hr class="system-pagebreak">
Over to the Mosman, Cremorne and Neutral Bay property markets which again remain in a holding pattern albeit interesting to note that when you look at <a title="this week’s sales " href="https://www.rwm.com.au/news/" target="_blank">this week’s sales </a>it is quite apparent that vendors and purchasers are engaging based on sales evidence, thus far. 
<a title="What will happen to housing prices in the wake of a federal election?" href="/news" target="_blank">What will happen to housing prices in the wake of a federal election?</a> Anecdotal evidence clearly points to our housing markets performing much better under a Coalition government where we expect the market to be robust, more so after Saturday week.
<p style="margin-top: 0.825em; margin-bottom: 0.5em; border: 0px; outline-width: 0px; font-weight: normal; font-size: 1.25em; font-family: DINMediumRegular; vertical-align: baseline; color: #666666; line-height: 18px;">MOSMAN – 2088
• Number of houses on the market this time 2012 – 104
• Number of houses on the market last week – 84
.Number of houses on the market this week – 83
• Number of apartments on the market this time 2012 – 92
• Number of apartments on the market last week – 63
Number of apartments on the market this week – 58
<p style="margin-top: 0.825em; margin-bottom: 0.5em; border: 0px; outline-width: 0px; font-weight: normal; font-size: 1.25em; font-family: DINMediumRegular; vertical-align: baseline; color: #666666; line-height: 18px;">CREMORNE – 2090
• Number of houses on the market this time 2012 – 22
• Number of houses on the market last week – 7
.Number of houses on the market this week – 8
• Number of apartments on the market this time 2012 – 19
• Number of apartments on the market last week – 13
.Number of apartments on the market this week – 19
<p style="margin-top: 0.825em; margin-bottom: 0.5em; border: 0px; outline-width: 0px; font-weight: normal; font-size: 1.25em; font-family: DINMediumRegular; vertical-align: baseline; color: #666666; line-height: 18px;">NEUTRAL BAY – 2089
• Number of houses on the market this time 2012 – 17
• Number of houses on the market last week – 13
.Number of houses on the market this week – 12
• Number of apartments on the market this time 2012 – 45
• Number of apartments on the market last week – 36
• Number of apartments on the market this week – 36
Source: Australian Property Monitors
It has been widely acknowledged that small business is the engine room of our economy, so why has the ALP government treated this portfolio as a half – way house? Since the 2007 election the ALP has now appointed five small business ministers, which in all probability explains why small business has turned on the government.
Next week’s federal election will be the fifth covered by Virtual Realty News and I must say that yesterday’s announcement by “Sportsbet has declared the federal election as a one – horse race and we’re paying out all bets on the Coalition nine days before Australia goes to the polls.” Currently they have the Coalition at $1.03 and the ALP at $11.00 which is the highest price since betting markets opened.
Sportsbet have the Coalition favourites in 90 electorates and the ALP favourites in 56 electorates. So how good is their form guide? In the 2010 federal election 147 Sportsbet favourites out of 150 seats went on to win the seat.
On that basis Kevin Rudd is gonski.
 
<hr>
 Robert Simeon is a director of <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.rwm.com.au/" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
 
 
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robertsimeon-hRNTwJyXkQ

Real estate vendors need to embrace the digital age: Robert Simeon

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John Singleton's Australian Pub Fund recently bought its 11th pub for around $34 million.
<a target="_blank" href="https://www.propertyobserver.com.au/queensland/singo-s-australian-pub-fund-buy-brisbanes-the-exchange-hotel-for-%2435m-%2440m/2013082864647">The purchase</a> brings the company closer to its goal of having a listed pub empire. 
In 2011 Singleton and his friends, Mark Carnegie and Geoff Dixon, established the fund to start buying distressed pubs around Australia and turn them into cash-cows with food, drinks and poker machines contributing one third of revenue in each.
Eventually<a href="https://www.propertyobserver.com.au/commercial/no-last-calls-for-john-singleton-and-co-s-burgeoning-pub-empire/2013090264724" target="_blank"> they will publicly list the company.</a>
Property Observer has compiled a list of the pubs bought by the fund so far with their reported sale price at the time as well as RP Data's price for some of the properties. RP Data's prices likely only include the value of the property and not the business value.
The fund is reportedly worth around $180 million now though the purchase prices add up to $140 million.
The Exchange Hotel, 131 Edward Street Brisbane, August 2013, around $34 million
Elephant Arms Hotel (formerly Elephant &amp; Wheelbarrow Hotel), 230 Wickham St?reet Fortitude Valley, April 2013, $27 million though RP Data indicates a land price of $11.6 million.
Bristol Arms, 81 Sussex Street Sydney, April 2013, $7.7 million
RP DATA $7.7 million
Kinselas, 383 Bourke Street Darlinghurst, March 2010, $12 million
Peakhurst Inn, 705 Forest Road Peakhurst, 2010, $10.6 million
RP DATA $7.75 million
Como Hotel, 35 Cremona Road Como, March 2013, $4.6 million
Unity Hall Hotel, 292 Darling Street Balmain, June 2011, $10 million
RP DATA $10 million
Toxteth Hotel, 345 Glebe Point Road Glebe, April 2011, close to $10 million
RP DATA $10 million
Marlborough Hotel, 145 King Street Newtown, September 2012, $12.175 million
RP DATA: $7,675,000
Victoria Hotel, 2 Addison Road Enmore, June 2012, $6.9 million
RP DATA: $4,329,220
Bellevue Hotel, 159 Hargrave Street Woollahra, November 2010, $4.2 million
 
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John Singleton's burgeoning pub empire

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The number of days property is lingering on the market before sale is increasing in most capital cities around the nation, according to Australian Property Monitors.
Over the month of August, Brisbane increased the most, spending an average of 122 days on the market, the highest month since January at 128 days.
In July, Brisbane property was spending an average of 104 days on the market.
Perth property stayed on the market longer throughout August, increasing from an average of 77 days in July to an average of 90 days in August.
Melbourne property sold faster in the month of August than it did earlier this year, peaking in the month of January at an average of 112 days on the market.
Melbourne propertys average time on the market stayed relatively stable in August at 95 days, a slight increase from July at 93 days.
Sydney has remained the snappiest city for the second month in a row, with an average of 73 days on the market.
Sydney also peaked in January this year at an average of 93 days.
<img height="707" width="470" src="/images/stories/2013/08/heat-chart-aug-28-one.jpg" alt="heat-chart-aug-28-one">
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ntrotman-Et3xWpamVh

Winter months see property linger on the market for longer: APM

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Hi Margaret,
 I have my rental unit for sale and the real estate agent says a buyer is requesting a copy of my depreciation schedule. Should I supply this as it contains the purchase price?
Regards, 
David
<hr>
Hi David, 
There is no reason to provide this depreciation schedule at all, since a depreciation schedule is prepared for a person, not for a rental property per se. 
The new buyer will not be able to use this schedule for their own claims and must have one of their own prepared. This is because their acquisition date is different than yours and the plant and equipment will be dealt with differently for them than it was for you. 
Essentially, the plant and equipment will get a ‘new effective life’ in consideration for the fact that it was not new when they bought the property from you.

Having said that, you can provide, for their information only, the amounts which have been listed therein, as this does not give away your original purchase price at all. 
Depreciation is divided into two main parts – that for the building and that for the plant and equipment.  Neither relate to what you paid for that property.  It’s possible that this information might provide a good guide to the buyer as to what they can expect, but it should be provided with a disclaimer that this is not provided as part of any tax advice, or even an expectation of what the new owner can achieve.
You should also advise them they must have their own report prepared. 
I’d put this in writing if you do decide to go ahead and provide this information, as you would not want the buyer to come back at you later claiming they only bought it on the basis of your advice about how much tax they could claim.   
Regards,
Margaret
<hr>
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. She is the founder of <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" target="_blank" rel="nofollow">Destiny</a>.
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
  
 

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mlomas-KC9MUPZ6Ca

Should I supply a buyer with my depreciation schedule? Ask Margaret

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It might have been the most expensive pub ever bought in Brisbane, but it doesn’t look like millionaires John Singleton, Mark Carnegie and Geoff Dixon plan on slowing down the growth of their burgeoning pub empire anytime soon.
Earlier this week, the three bought Brisbane’s Exchange Hotel. The price wasn’t disclosed, but <a rel="nofollow" href="https://www.afr.com/p/business/property/singo_splurge_on_queensland_pub_oD2H90AS74fFKBcZ2PmzGM" target="_blank">newspaper reports</a> peg it at having sold for between $35 million and $40 million. If this is on the mark, it would be the most expensive pub ever purchased in Brisbane.
It’s been <a href="https://www.smartcompany.com.au/finance/047062-20111128-john-singleton-and-geoff-dixon-to-establish-200-million-pub-fund-2" target="_blank">less than two years</a> since Rich Lister and ad man Singleton, investment banker Carnegie and Tourism Australia chief Dixon established the Australian Pub Fund, but it’s already bought 11 pubs.
These include the landmark Marlborough Hotel in Sydney (<a href="https://www.smartcompany.com.au/property/051647-john-singleton-s-pub-group-buys-iconic-sydney-hotel-2" target="_blank">bought for $12 million at auction</a>), the Elephant Arms Hotel in Brisbane and Sydney’s Bristol Arms Hotel.
It might seem like a passion business for the three millionaires, but no doubt they would describe it more as a savvy business investment.
In the years leading up to 2008, pub values soared. Owners took on heavy debt to finance new renovations and pub purchases, but then the market crashed, and prices kept falling. By late 2011,<a href="https://www.smartcompany.com.au/finance/047062-20111128-john-singleton-and-geoff-dixon-to-establish-200-million-pub-fund-2" target="_blank">values were at rock bottom</a>. And so, Singleton and his mates went on a pub crawl.
There was, quite literally, a pub crawl, but given the <a rel="nofollow" href="https://www.dailytelegraph.com.au/singos-15-hour-pub-crawl-that-clinched/story-e6freuy9-1225886895424" target="_blank">15 hours of business meetings the trio took</a>, I’m sure they weren’t too sloshed.
Singleton booked in 15 hours of meetings with pub owners all across Sydney. And he liked what he saw.
The strategy, going by Singleton’s public statements, was simple but ambitious.
He, Carnegie and Dixon would tip in $100 million of their own money, along with some bank debt and other funding, and use it to buy distressed pubs, whose owners were keen to get out.
They would then turn these pubs into balanced cash cows, with food, drinks and poker machines contributing roughly one third of revenue each.
Once the pubs are fully up and running the way they should, the plan is to eventually list the pub fund on the stock market, hopefully netting the three founders of the Australian Pub Fund a handy profit for their trouble.
When news of the pub fund first broke, Singleton said it could buy “three or 33” pubs, depending on whether or not the opportunities were there.
Two years later, it seems there’s been plenty of undervalued real estate on the market. The fund has flagged its intentions to buy more pubs in Brisbane, and it’d be unwise to dismiss further purchases in the founders’ home city of Sydney.
Neither Singleton, Carnegie nor Dixon made their fortunes in hotels or property. But, when you’ve got the money, I guess the opportunity is there for the taking. Cheers to that.
<hr>
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
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mrobin-TVRYiru7si

No last calls for John Singleton and co's burgeoning pub empire

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Perth’s median price is slipping, but it seems it might just be a sign of first time buyer activity driving sales in more affordable areas, according to the Real Estate Institute of Western Australia (REIWA).
Pointing to a slip in Perth’s median house price by 1.4% to $515,000 over the three months to August, compared to the three months to May, REIWA president David Airey said that the cause is quite likely to be first time buyers.
“This appears to be due to the large turnover of more affordable homes skewing the median downwards,” Airey said.
This also appears to correlate to those suburbs currently recording a higher level of stock turnover, which tend to sit at a median price lower than that of Perth overall. For instance, REIWA recorded that the north west and southern parts of the City of Wanneroo had the strongest jump in turnover of between 31% and 36%, with median prices sitting around the $350,000 mark (RP Data).  
Destiny’s Margaret Lomas agreed with Airey’s view that new buyers are behind the overall median price drop.  
“It’s definitely first time buyers as locally, the residents of investors in Perth aren’t quite ready to accept that Wanneroo area may provide some good investing opportunities," Lomas told Property Observer.
“I’d expect to see this change in the coming year or two and those first home buyers will start to see increasing competition from property investors," she said, suggesting a future pick up in these LGAs may be likely.
Further to this, the more affordable areas of Kwinana and Rockingham also saw increased turnover while in the City of Joondalup sales slumped by up to 20% across the LGA. The median house price for the suburb of Joondalup is recorded at $870,000 (RP Data), further suggesting first time buyers are the active segment in the market.
Overall, REIWA recorded a 14% decrease in properties sold when comparing August to May, despite being up by 4% from July.
Perth was one of just two capitals nationally to see a drop over the last quarter, RP Data <a target="_blank" href="https://www.propertyobserver.com.au/news/brisbane-leads-august-recovery-as-melbourne-and-perth-record-weakest-mainland-monthly-change-in-dwelling-values/2013090164715?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">recently recorded</a>.
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jduke-EHk3XBmHkn

Cheaper Perth suburbs to see an uptick

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Average Australian households have seen their incomes rise by at least $5000 more than their expenses every year since 1988, according to a report released on Saturday.
Combined, this means disposable incomes for the average household have increased a whopping 65% since 1988. More than 15% of this growth has come since the global financial crisis.
This picture of a nation in rude financial health comes from a <a target="_blank" rel="nofollow" href="https://www.natsem.canberra.edu.au/storage/NATSEM-Household-Budget-Report.pdf">report</a> by the National Centre for Social and Economic Modelling at the University of Canberra.
The inaugural report found that though incomes hadn’t risen as fast since 2008 as they had in the earlier part of that decade, cost of living pressures had slowed, meaning households saw their incomes rise while their expenses stayed about the same.
While expenses like utilities, health and education rose strongly over the period, lower interest rates meant mortgage pressure decreased markedly, as did many other aspects of household expenditure.
This is a surprising outcome, given cost of living has been much discussed in this election campaign. Policies like the carbon tax, which contributed to former Prime Minister Julia Gillard losing the support of her party room, were feared to have a detrimental effect on what were perceived to be already high cost-of-living pressures.
In fact, the amount of disposal income left over to households after subtracting the cost of living increases grew at 2.6% a year since 2007, which is the exact amount it had grown under the Howard government. Between 2007 and 2010, household expenses grew by 3.3% a year while incomes rose close to 6% a year, while from 2010 to June 2013, cost of living rose 1.6% a year while incomes rose 4.2%.
Increases in the cost of living have been “benign”, according to the report, but they have disproportionately hit renters and those on low incomes. Those on high incomes have generally seen their costs of living stay the same.
The report’s author, Ben Phillips, said cost of living has been an election issue for decades, and the influence of the narrative often has little to do with reality.
“Politicians have been talking about it for a long time. I suppose it really hits the buttons of voters.
“But the problem is that the discussion usually complete ignores the prices of things outside electricity, petrol and food, and completely ignores things like rising incomes.
“We all notice when prices go up. It annoys people. Income growth, however, isn’t as visible.”
It’s the first time the National Centre for Social and Economic Modelling has released what is to be a quarterly report. Phillips says that it follows on from similar research the centre did in May 2012.
“We had an unprecedented level of interest in that data,” he says. “I had government departments and journalists calling me almost on a daily basis asking about it. Many wanted updated figures, so it became pretty clear there was a need for this sort of thing to be done regularly.”
The Household Budget Report combines Australian Bureau of Statistics data on household expenditure for different types of households with separate ABS data on income growth across different categories. It uses these two data sets to see how different types of households have seen their income grow relative to their expenditure.
The ABS currently has a similar, but far more limited measure intended to help governments assess income support measures. The National Centre for Social and Economic Modelling’s report differs in that it applies the same methodology to all types of households, and not just those on government assistance.
 
<hr>
 This article was originally published on <a href="https://www.smartcompany.com.au" target="_blank">SmartCompany</a>.
 
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What cost of living crisis? Australian households have more money to spare than ever

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More chirping over at Property Observer last week.
<a target="_parent" href="https://www.propertyobserver.com.au/residential/in-the-current-market-young-buyers-should-save-and-rent-don-t-buy-now-david-collyer/2013082864634?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=ourobservers:adviceandanalysisforreaders">David Collyer wrote an article</a> advising youngsters to shun buying property and instead direct money into a savings account.
Fair enough, there's little value in continuing with the argument.
There's nothing wrong with issuing financial advice based on a robust forecasting model or a proven track record, but advice shouldn't be issued based on what was basically just a guess of prices falling by 20%. A "courageous" call is one way to describe it; "completely wrong" would be another.
Adjusting prices for inflation is also nonsense, for properties aren't bought with inflation-adjusted dollars, and thus property owners are significantly better off than they were a year ago and have made headway in paying down their mortgages over the past few years, while rents will continue to rise.
Suffice to say that I remain convinced that you can get better returns on your capital than in a savings account with the official cash rate at just 2.50% and likely heading to 2.25% before Christmas, whether via property or from a well-diversified portfolio of profit-making and dividend-paying shares.
As for the "inevitable" housing correction, David is, of course, absolutely right - property prices will always move in cycles and a downturn will definitely come. This is always and everywhere the case.
The timing of the next correction, however, is far from certain. It could yet be two to three years away by which time the market may have moved on significantly.
In my opinion, Sydney's property prices, which are already up by well over 10% since the early part of 2012 with gains now accelerating over the last 8 weeks according to RP Data, will probably continue to add strong gains over the coming months and in all likelihood well beyond.
I'm not in the business of weather forecasting, but it would be no surprise at all to me to see this cycle recording price gains in Sydney of in excess of 20%.
Don't forget that the Reserve Bank is actually looking for property market prices to go up; heck, the Board is barely even pretending otherwise.
In any case, there is certainly no evidence at all of any home buyers' strike in the harbour city, with auction clearance rates hitting the astonishing level of 84% on Saturday, the highest recorded this year, completing a record month of August for the city.
Last weekend's 79% clearance rate was the only weekend in the last eight where less than a "boomtime level" of 80% of auctioned properties were sold.
The Sydney property boom has some way to run yet.
According to the REIV, Melbourne's auction clearance rates remained strong at 74% as compared to a very high 79% last week.
Melbourne continues to surprise me - I had previously felt fairly sure that prices would recede somewhat after the phenomenal price boom, but instead the market has been remarkably resilient and prices remain close to all-time highs.
It all just goes to show how hard timing the market is - which is precisely why I'm not a strong advocate.
I heard a lot of talk of inevitable mean reversion and unsustainable prices in London back in the 1990s, yet the best part of two decades later there has been no correction worthy of the name and prices are higher than they have ever been, while those of use with mortgage debt from that time are grateful to have extinguished most of it over that time horizon.
In Australia, to a large extent it's a question of location. Some cities and regional areas continue to look weak despite record low interest rates. If you're waiting for prices to become cheap in Sydney's popular suburbs, however, you may as well be waiting for Godot.
<hr>
Pete Wargent is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
 His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' was released on 1 September 2013.
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