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]

Joel Robinson

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

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

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

<html><body>
More fun and games from the world of Aussie property with David Collyer of Prosper having a jolly old chirp at my expense over at the Don't Buy Now! campaign, predictably enough describing me as a "incoherent spruiker" and my output as "bilge" in an attempt to "shred my credibility", while also labelling me a "breathless auto-publicist" among other taunts.
Fair enough. In cricketing parlance I fully expected to be 'sledged' and never believed that everyone would agree with me that the share markets would be a great long-term bet and that property prices in Sydney would likely increase to record highs when my book was released on 31 May 2012 (although in truth I've never believed that certain Australian cities and regional property markets would be a particularly good bet).
Ever since the 1990s, I've always been of the view that property should be seen as a 25 year investment and that over that timeline, prices will likely increase in certain locations including Sydney (and certain areas in and around London) where the population is booming and there is little land available for release.
Average investors are notoriously desperately poor at timing markets so I place emphasis on long-term outcomes.
Stock markets have been on a bonanza run since May 2012 and delivered great capital growth and dividend streams.
If you've read my book, you'll know that I'm a strong advocate of heavily diversifying risk across a number of asset classes, but felt that some exposure to Sydney property would result in a good long-term outcome.
My own approach has been to spread risk widely by holding hundreds of (predominantly industrial and financial) stocks and investing in different property markets, with a bias towards growth asset classes.
As disclosed on my blog, I've owned a number of diversified (industrials-focussed) Australian LICs, the major Aussie bank stocks, a couple of major resources companies, a couple of UK index funds, a number of inner-Sydney residential properties, residential properties located close to London and a healthy cash buffer in a cash management account.
More than anything, my message was to do something by spending less than you earn and investing in a diversified portfolio of assets rather than to fail conventionally by doing nothing.
I also felt that Australia's property markets would likely steadily rebound from that time at May 2012 rather than crashing dramatically.
David Collyer took exactly the opposite view to me, specifically advising potential homebuyers and renters to steer clear of the property market at all costs for the past few years, as once again stressed in this February 2012 article which you can read <a target="_blank" href="https://www.prosper.org.au/2012/02/23/prosper-sees-property-price-falling-15-perhaps-20-in-2012/">here</a>:
“It is difficult to foresee anything that could derail the current downward trend – a trend we see accelerating strongly.
“The RBA is gradually, cautiously lowering interest rates. It is extremely sensitive to suggestions its activities may hasten or brake the deflating housing bubble. The other obvious tool available to government, a First Home Buyers Grant, has been utterly discredited,” Collyer said. 
 “We expect property prices to wilt under these combined pressures, with prices at end December 2012 between 15 and 20 per cent less than today. We renew and repeat our warning to potential home buyers to stay out of the property market. Falling prices erase equity while buyers’ mortgage liabilities remain payable in full."
“Don’t buy now,” Collyer concluded.
Since the property market troughs in mid-2012, unfortunately, prices have not fallen by 20%, or even 15%.
In fact, they have increased to new highs in Perth (+10.3%) and Sydney (+9.6%), are close to previous highs in Melbourne (+7.5%) and Canberra, and even Adelaide (+1.6%) and Brisbane (+2.1%) have seen prices rebounding.
 
<hr class="system-pagebreak">
Unlike David Collyer of Prosper, I don't view the property market as a homogenous commodity; I'm instead of the view that prices will perform strongly in some areas and badly in others.
As is obvious by the fact that I've owned Sydney properties, I've long felt that this represents the best long-term risk-adjusted bet, but I don't rate the prospects of certain other cities.
If you took Collyer's specific advice to sit back and wait for a 15-20% crash in Sydney, Melbourne or Perth, you've already cost yourself a year's salary as prices have rebounded materially, leaving yourself in an even more awkward position: whether to wait yet again risking further price gains, or buy now at a significantly higher price than you could have done in 2012.
Futures markets now see interest rates remaining at 2.50% or below right through until early 2015. With auction clearance rates repeatedly topping 80%, I expect to see prices increasing even further in Sydney, though I'm far less certain about the prospects for some other cities.
My problem with the Don't Buy Now campaign has not been that prices won't fall - of course they always might recede (or they might not).
My problem with it has been the seriously flawed underlying assumption that people can predict short-term market movements with unerring accuracy.
What if prices continue to increase as has been predicted by the mainstream forecasters including BIS Shrapnel, Australian Property Monitors, RP Data, SQM Research, McGrath and ANZ Bank, to name but a few?
<a target="_blank" href="https://www.hsbc.com.au/1/PA_ES_Content_Mgmt/content/australia/about/research/archive/2012/OZ120712a.pdf">HSBC has long been vociferous and specific</a> in why they believe that there is no bubble and that prices will likely increase.
Even the globally bearish Fitch included Australia in its three most favoured markets of 2013 expecting prices to turn a corner and head up a little.
SQM Research predicted in its base case scenario 2013 price gains in Darwin (+6% to +14%), Perth (+6 to +12%), Sydney (+5% to 9%), Adelaide (+2% to +5%), Melbourne (+2% to +4%), Canberra (+1% to +4%) and Hobart (+2% to +5%).
Australian Property Monitors predicted national price gains of +5 to +7% through 2014.
BIS Shrapnel forecast median house price gains of 19% in Sydney in the 3 years to June 2016, as well as gains of 17% in Brisbane, 15% in Perth and 10% in Darwin. BIS also forecasts lower gains over the same time period of 5% in Melbourne, 3% in Canberra, 6% in Adelaide and 4% in Hobart.
Personally, I've often found BIS forecasts to be overly optimistic and frequently on the bullish side.
But given that 2016 will be the sixth calendar year of the Don't Buy Now campaign, what if the mainstream market forecasters prove to be right?
What if prices continue to go up instead of the 15-20% crash which has continually been promised by David Collyer for the last 3 years?
How long will Prosper continue to issue the specific financial advice to potential homebuyers to sit out of the market if that base case scenario plays out?
I'm not saying that Collyer will definitely be proven wrong. My question has rather been: what happens if the market forecasters are right?
One other thing: if Australians are "disleveraging with surprising vigor" as Collyer claims, then why have prices jumped by 10% in Sydney, by 10% in Perth and by 7.5% in Melbourne?
Pete Wargent holds a range of finance and property qualifications and is the author of <a target="_blank" href="https://petewargent.blogspot.com.au/" rel="nofollow">Get a Financial Grip – a simple plan for financial fr</a><a target="_blank" href="https://petewargent.blogspot.com.au/" rel="nofollow">eedom.</a>
 
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Average investors are notoriously poor at timing property market cycles: Pete Wargent

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A website specialising in buying property in overseas countries says Australia is the most popular country in its books, driven by strong demand from British buyers and possibly a few voyuers.
Searches for property in Australia climbed even higher during June prompting TheMoveChannel.com to publish the top five most searched for Australian destinations.
Perth continues to be popular among our British friends. The city accounted for one-third of all searches in Australia on the website as British departees long for a sea-change.
It was followed by Sydney, accounting for 28% of the Australian searches.
Melbourne was next, taking in 20% of searches, followed by Adelaide and Brisbane.
Top five Australian hotspots for British wannabee buyers in Australia
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<td height="20" width="64">1</td>
<td width="76">Perth</td>
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<td height="20">2</td>
<td>Sydney</td>
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<td height="20">3</td>
<td>Melbourne</td>
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<td>Adelaide</td>
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<td height="20">5</td>
<td>Brisbane</td>
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The top five hotspots for British buyers and voyuers in Australia: The Move Channel

The landmark 1933 Villa d&#39;Este estate at Palm Beach has been sold for around $7.5 million by Terry Tobin, QC, and his wife, Bernadette, who have owned the property since 1983.

The 2,626 square metre property has been the family holiday home since&nbsp;bought for $700,000 from Guy Dawson.

It was <a href="https://palmbeach.ljhooker.com.au/2N9F6Z" target="_blank">listed for sale with $9 million price hopes through LJ Hooker Palm Beach agents David Edwards and Peter Robinson who have declined to reveal the selling price.</a>

Its set over two separate titles on Northview Road&nbsp;comprising&nbsp;a 1,426 square metre block with a Spanish Mission-style house and a 1,200 square metre vacant block.

It has&nbsp;views stretching across the length of Pittwater&nbsp;and especially north towards Lion Island and the Barrenjoey headland.

Built in 1933, the&nbsp;Mediterranean villa&nbsp;has an open loggia with barley-twist columns, arched windows and wrought-iron detailing.

The&nbsp;five-bedroom residence has a large living room and a billiard room.

Land title records show it changed hands in 1933 to Elizabeth Bay estate agent Morris Leventhal and his wife, Orissa when the 1927 mortgagee, the Bank of New Zealand secured a 310 pound sale. The departing mortgagor&nbsp;was Samuel Hood Hammond.&nbsp;&nbsp;

Tobin, admitted to the NSW Bar in 1973, was appointed a Queen&#39;s counsel in 1985.

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Barrister Terry Tobin sells Villa d'Este, the historic Palm Beach estate

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An active buyer and seller of US real estate, AMP Capital Global Direct Property Fund, has paid US$29.4 million (A$32.7 million) for a CBD office tower in Sacramento, California.
The purchase is a nice fit for the fund which is this year focusing on ‘’top tier secondary markets poised for growth that are only just beginning to attract significant capital flows’’.
The building (pictured below) is walking distance from the California State Capitol building at 770 L Street. The 13-level, Class A office building of more than 15,600 square metres has a strong government and lobbyist tenancy profile.
<img height="313" width="470" src="/images/stories/2013/08/Sacramento-aug-16-one.jpg" alt="Sacramento-aug-16-one">
It has excellent green credentials, being one of only six non-owner-user buildings awarded LEED Gold certification in the CBD.
AMP Capital Global Direct property fund manager Tim Fallet said the property was attractively priced with the opportunity to add value.
“The Sacramento office deal is a high-quality property acquired well below average comparable sales over the past 10 years with some of the best vacant space in the market.
‘’We plan to offer prospective tenants attractive lease rates, providing a competitive advantage over landlords with a higher cost basis.
“Secondary office markets like Sacramento are poised for growth, driven by strengthening economies.
‘’We want to position ourselves ahead of the capital flows, de-risk the asset by capturing a good share of leasing activity to achieve a stabilised 90-95% occupancy profile and resell into a rising market to an investor hungry for core investments.’’
Mr Fallet says Australian real estate is in high demand. ‘’There’s a lot of domestic and international capital chasing local property, but the Aussie market isn’t big enough to absorb these capital spikes.
‘’As a result, a number of local super funds are considering an offshore strategy again and we are well placed to assist.’’
Mr Fallet says that while the fund ‘’currently has a buy-side bias to the United States, we have a watching brief on further investment opportunities in Europe and Asia”.
The AMP Capital Global Direct Property Fund gives Australian superannuation funds access to core and core-plus direct property investment opportunities in large, liquid and transparent offshore markets.
The fund invests in a strategic mix of international direct property assets across all the property sectors.
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AMP wholesale fund buys Sacramento office building for $32.7 million

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The unemployment rate remained unchanged at 5.7% in July, the latest ABS figures show.
Market expectations were for the unemployment rate to rise to 5.8% over July.
The number of people employed decreased by 10,200 to 11,653,200 in July.
This was offset by the number of people unemployed decreasing by 5,700 people to 705,400 in July as well as the seasonally adjusted labour force participation rate decreasing 0.2 percentage points to 65.1% in July.
The decrease in employment was due to decreased full-time employment, down 6,700 people to 8,133,900, and part-time employment, down 3,500 to 3,519,300.
Full-time and part-time employment decreased for both females and males.
The highest unemployment rate is in Tasmania (down from 9% to 8.2%) and the lowest is in WA (unchanged at 4.6%).
The biggest unemployment rate rise was in South Australia - up from 6.1% in June to 7.1% in July.
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Unemployment rate remains unchanged at 5.7% in July

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A new investor asset class is emerging after one of Australia’s largest accounting and financial advisory firms bought a NSW Quest serviced apartment property on behalf of a syndicate of 60 investors.
Crowe Horwath Property senior manager, Julie Perry, says the firm paid $24.8 million for the 550 Kiewa Street property containing the 104-key Quest Albury as its first foray into the accommodation sector. It was developed in 2008. Other tenants are the Q Manhattans tapas bar and restaurant and the Endota day spa.
Perry says the investment ends a search for stable cash generating and capital growth property investment opportunities favoured by her company’s clients. 
“We have found that our clients are becoming more astute to the various opportunities in the market. When we provided them with an opportunity to invest in a strong performing, but diverse asset style, property the response was overwhelming,’’ she says. 
“The interest has reinforced the local community support for local investment.’’
Quest chairman Paul Constantinou says the transaction is part of a growing trend with investors seeking opportunities away from traditional commercial, industrial and retail sectors.
He says the serviced apartment sector is on a roll with Quest building its third property in the Albury Wodonga region. The expansion strategy follows regional and suburban growth corridors throughout Australia.
‘’Investing with Quest provides predictable returns, fixed rental income and the security of a long-term lease,’’ he says.
“During uncertain financial times, investors are turning away from traditional assets, preferring instead to safeguard their financial future by investing in assets they can see and understand.”
Quest provides short-term business traveller accommodation. Since launching 24 years ago, the group says it has become the largest and fastest growing serviced apartment operator in Australasia. There are about 150 Quest sites across Australia, New Zealand and Fiji.
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Investor syndicate buys Quest Albury serviced apartments for $24.8 million

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The sale at auction of three regional fast food outlets has demonstrated the strength of demand for commercial premises, according to commercial real estate agents Burgess Rawson.
They are among a<a target="_blank" href="https://www.propertyobserver.com.au/tax/burgers-fries-and-tax-depreciation-benefits-drive-sale-of-mcdonalds-premises-mcdonalds-washingtonbrown-tax-eofy-depreciation/2013060461524"> swag of recent sales to investors</a> taking advantage of low interest rates and the emergence of self-managed super funds acquiring commercial property. 
At its Melbourne portfolio auction yesterday the agent sold $13.81 million worth of property (nine out of 12) at an average premium above reserve of $145,000 - or 10%. This equates to a total premium above the combined vendors’ reserves of $1.31 million. 
The Toowoomba Red Rooster outlet was sold by a Melbourne-based vendor for $1.78 million at a yield of 7.23%. This was at a 19% premium above the reserve, according to Burgess Rawson agents Robert Stanley-Turner and Michael Collins, who fielded bids from Brisbane and Toowoomba. 
‘’Based on our records, the yield is the strongest for a Red Rooster since we sold the Colac freehold at 7.1% about 12 months ago,’’ Stanley-Turner says. 
The Ararat Domino’s Pizza outlet sold for $500,000 on a yield of 6.2%. At shops 3 &amp; 4, 1 Ingor Street, the new premises comes with a five year lease with multiple renewals. It’s one of more than 800 Domino’s stores in five countries. The double fronted shop on two titles was recently decorated in the latest corporate livery at a cost of $200,000. It comes with fixed 4% annual rent increases and a return of $31,000 per annum.
The Leongatha Subway store in South Gippsland was sold for $600,000 at a 5.4% yield. It was one of three premises owned by the same vendor. ‘’The sale price reflects a blended 19% premium above his combined pre-auction reserves,’’ says selling agent Raoul Holderhead. 
‘’The Subway and a Leongatha VicRoads office ($920,000) were bought by same local buyer and an IGA Liquor outlet was bought by a Melbourne based private investor.
‘’Based on our records, the 5.54% yield for VicRoads is unprecedented for Government leased investment property anywhere in Victoria.’’
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Investors upsize their appetites for high-yielding regional fast food outlets

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The vacancy rate for rental property in metropolitan Perth has lifted from a tight 1.9% towards the end of last year to around 3.2% currently.
There are now more than 4,000 rental properties on the market giving tenants a lot more choice with location and price. This is a big turn-around in the rental market in just six months.
The median rent is now around $480 per week, which typically means that houses are renting for around $480 and units, apartments and villas for around $455 per week.
However, with stock levels in Perth now above average many current tenants are looking to break their fixed-term leases and move to something else that might be more affordable or in a more suitable location.
Other tenants are keen to leave the rental system and buy their first home, especially now that prices have stabilised and interest rates are low.
Either way, it’s important that tenants understand the possible costs involved in a break-lease and to do their sums before making any quick decisions. For some tenants it might be better to serve out the existing lease and leave at the end of that.
It’s important for tenants to understand that a lease is essentially a contract between two parties and leaving the premises before the agreed termination date is a breach of that contract.
Under the Residential Tenancies Act, the owner is entitled to be ‘no worse off’ as a result of any breach by the tenant. As such, they can claim from the tenant any cost that might be incurred, such as rent until the premises are re-let, advertising for a new tenant and any unused portion of the letting fee.
These costs might add up to a few hundred or few thousand dollars depending on the circumstances.
Most property owners will try to be reasonable in these situations and some might agree to a no cost break-lease up to the point where new tenants move in. Even so, there may be some costs to you so check it out firstly.
If you are looking to buy your first home and do away with renting, it’s best to aim for the settlement date of your purchase to coincide with the end of your rental lease to save you money.
If you are thinking of breaking your lease, it’s highly advisable that you talk to the property manager about the potential cost of that so you can make a considered decision about the best time to move and how that might impact your budget.
There can be understandable reasons for breaking a lease but it’s not something that should be done without thinking it through.
David Airey is president of the <a rel="nofollow" target="_blank" href="https://reiwa.com.au/home/default.aspx">Real Estate Institute of Western Australia.</a>This article was originally published on <a target="_blank" rel="nofollow" href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
 
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Perth rental vacancy is giving tenants more options, but breaking a rental tenancy agreement can have serious consequences

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In my view, overall investment desirability in an area is heavily dependent on infrastructure.
So how would I rank the various infrastructure basics in order of importance?
I would argue there is not one checklist of infrastructure vitals you need to investigate when considering an investment property purchase, but two.
The first list I came up with are what I call ‘Area Vitals’ and this includes the core vitals pertaining to the basics of human life: safety, security, and employment.
But the second list, ‘Area Desirables’ are just that, the ‘nice-to-have’ factors that can – and do – persuade prospective tenants to choose one suburb over a similar suburb to live in. I would recommend considering each of these lists when you are deciding where to invest:
Infrastructure Checklist – Area Vitals:
-          Emergency services (local police, fire, ambulance)
-          Employment prospects (look for job creation in a variety, not just a handful, of industries or trades)
-          Proximity to transport nodes (rail, bus, tram; as well as domestic and international airports)
-          Shopping &amp; retail facilities (basic/core groceries)
-          Proximity to education facilities (pre-school through to tertiary)
-          Digital services (fast access internet, subscription television)
-          Provision of basic leisure facilities (parks, local sports grounds, town centres, restaurants/bars)
-          Well-maintained roads and intersecting/connecting motorways
Infrastructure Checklist – Area Desirables:
-          Prestigious education facilities (beyond basic, so esteemed schools/universities with a good reputation)
-          Nearby national parks &amp; hiking trails
-          Hospital facilities that provide sophisticated surgeries &amp; procedures
-          Bustling local entertainment venues (abundance of restaurant choices/cultures, popular nightspots)
-          Proximity to premium entertainment &amp; sports venues (for big concerts, major sporting calendar events)
-          Provision of adequate parking nearby to transport nodes
In an ideal suburb, you would hope to check off as many items on these lists as possible, but of equal importance is to consider areas where projects related to any of the above have commenced construction.
For example, if values in your chosen area have not shown much capital growth in the last five years or so, yet a new motorway that will make this area more connected to major employment centres has already begun construction, you ought to take these factors in to account.
 
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Recently, I returned from a trip to Singapore and Malaysia.
My time in Singapore was mostly for business, but my time in Malaysia was for a short break, not on the mainland but instead on a remote island. Apart from the climate, the two places I visited could not be more different.
Singapore is a tiny, bustling, and high-density city-state, brimming with business people from all around the world. There are over five million people crammed into an island about one third the geographical size of Sydney.
On the other hand, the small Malaysian island of Tioman on the east coast of Johor Bahru, has a population smaller than that of Darwin.
From a property perspective the two areas, though neighbours, could not be more different.
Spending a little bit of time on each island, I began to appreciate just how important the presence of good infrastructure is, in determining where you invest.
When comparing the infrastructure of these two places, again, they could not be more different.
Singapore is everything you would expect; practically anywhere one would choose to live on the island is in very close proximity to not only the fundamental/basic infrastructure of city living, but to more sophisticated infrastructure like major lifestyle venues (zoos, grand botanical gardens, major entertainment venues, sporting grounds, and so on).
The rent costs being commanded by landlords in most parts of Singapore are in line with such world-class lifestyle facilities. Yet demand for property of any kind in Singapore remains fiercely strong, and in many instances, highly competitive.
Conversely, the remote island of Tioman in Malaysia faces an entirely different problem.
Apart from a small volume to Tourism, the island has little to no infrastructure.
The only airport that services the island will cease all flights from September onwards, making all access to the mainland of Malaysia reliant on ferry services. Even these ferries are reliant on fluctuating tides and if the water tide is too shallow on any given day, the ferries simply do not run.
Infrastructure on the island is very weak indeed with no doctors, let alone a hospital, only a handful of police officers to service a population of over one hundred thousand and no sophisticated urban planning zoning or restrictions, making construction and importations of any kind challenging for the developer.
Employment prospects are poor and services to roads, communities, and technology are also very limited.
Most people would think of infrastructure as being separate to employment prospects, but the two are often related.
 
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A good example of this is Kempsey on the mid-coast of NSW.
I visited this area in April 2013 and was initially pleasantly surprised by the affordability of residential property in this mid-size town.
Houses in most suburbs are very affordable; according to RP data the current median price for a house in Kempsey is $165,000.
The town should have solid appeal as an area to live; it is a very short drive to beautiful coastal beaches, the weather is mild most of the year and sunny, and there are almost a dozen state and national parks surrounding the city in every direction.
The recently completed upgrade of the Pacific Highway included a bypass path that re-routed traffic around the city. This has stopped noise, pollution, and traffic running through the centre of town and once would think this would restore the town centre with a sleepier, pleasant vibe, akin to that of nearby Grafton.
Yet despite all of this, the longterm growth trend for house values remains muted.
After visiting and speaking to some locals there, as well as making some calls to local estate agents, I began to realise that economic growth for the city had stunted due to lack of infrastructure.
It turns out that Kempsey is about a 45 minute drive to much larger cities Port Macquarie and Coffs Harbour.
Residents of Kempsey would often commute to either of these places to seek work, due to a lack of infrastrucutre and services in Kempsey having resulted in little to no new job creation in Kempsey.
The town does have basic services – a small hospital, police station, fire station and so on. However, the council has not promoted industrial and agricultural infrastructure growth in the town and this has resulted in limited job growth prospects.
With retail being the only developed industry, employment prospects remain muted and this in turn reduces desirability and increases vacancy rates, resulting in capital growth remaining stunted.
Education is always a strong influence when it comes to infrastructure.
In the example of Kempsey, apart from a small TAFE with very limited course offerings, there are no universities in the area, meaning that residents wanting to study for a career beyond basic trades, have to leave the town to do so.
A lack of solid infrastructure can restrict growth in industry, leading to high unemployment rates that keeps a town or city with otherwise great appeal and desirability, deflated.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" rel="nofollow" target="_blank">Property Correspondent.</a>
 
 
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cmcevoy-Go82SmsJA9

The vital and desirable infrastructure checklist before you invest any suburb

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A Luigi Rosselli-designed waterfront home in Cottage Point - and former home of INXS band member Andrew Farriss – is on the market for.
Located on Cowan Drive on 1,486 square metres, the six-bedroom home was designed and built in 1991 for multi-instrumentalist <a href="https://inxs.com/the-band/band-members/andrew-farriss/" target="_blank">Andrew Farriss </a>and his then wife, Shelley.
The project drew inspiration from ship architecture and the home is designed around a central two-storey drum.
The property also includes a restored 1910 stone guest cottage on the waters edge with a private deck, slipway, boatshed and pontoon access.
Coined “the INXS house” by <a href="https://luigirosselli.com/news/" target="_blank">Luigi Rosselli</a>, the Farriss’ sold the property in 1996 for $1,715,000.
The current vendors, the Ell family then purchased it in 1999 for $2.3 million.
It has been scheduled for auction in 2010 with a $6.45 million plus price guide in what was an unsuccessful attempt to set a new record for the exclusive Cottage Point area.
The most expensive sale in the area was recorded in 2008 at $6.45 million.
By coincidence, Shelley Farriss has put her <a href="https://www.regencyrealestate.com.au/buying/NSW/Northern-Beaches/Bayview/House/1P0087" target="_blank">Bayview home</a> on the market for around $13 million.
Situated on 3,065 square metres, the five-bedroom home includes a wet bar, French doors, music room and a library.
<a href="https://www.propertyobserver.com.au/data-map?utm_source=Property+Observer+List&amp;utm_campaign=bed190e75c-June_17_1_29_2013&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-bed190e75c-" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/07/yieldsbanner.jpg" alt="yieldsbanner" width="470" height="127"></a>
The property also boasts a 24-metre frontage, an infinity pool and a rooftop entertaining area.
Shelley bought the property in 1999 for $4,375,000.
The Cottage Point property is listed through <a href="https://monavale.ljhooker.com.au/10QRF6K" target="_blank">Lachlan Elder of LJ Hooker Mona Vale.</a>
<a href="https://www.propertyobserver.com.au/residential/trophy-homes/" target="_self"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/05/trophyhomesstrapone.jpg" alt="trophyhomesstrapone" width="470" height="57"></a>
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