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

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Fund manager Moss Capital, run by former Macquarie Bank director Bill Moss, has acquired the Manning Mall in Taree from Mirvac for $32.6 million.
The sub-regional shopping centre (pictured below) in the Mid North Coast NSW town has 11,300 square metres of retail space and is anchored by Target and Coles.
<img alt="mosscapitaljune17one" height="294" width="470" src="/images/stories/2013/06/mosscapitaljune17one.jpg">
The funds management business plans to spend a further $150 million in retail assets, The Australian reported.
Mirvac acquired the Manning Mall for $32.5 million in November 2006 and spent a reported $15 million refurbishing it in 2009.
It was valued at $33 million as of June 2012 with turnover of $48 million per annum.
It is Moss Capital’s second regional NSW retail acquisition after it acquired the Griffin Plaza at 2 Yambil Street for $14.75 million in November last year.
The 7,225 square metre neighbourhood shopping centre was purchased from Millennium Asset Management on a yield of around 10.5%.
Bill Moss managed Macquarie Group’s global banking and real estate businesses as part of a 23 year career at the investment bank.
He founded, grew and led Macquarie real estate group to where it managed over $23 billion worth of investments around the world.
Commenting on the latest acquisition, Moss Capital’s head of real estate, Michael Baliva, said Manning Mall fitted its investment criteria "given its non-discretionary focus, robust cash flow, attractive acquisition yield of 10.4% and its strong growth in centre sales following the closure of a competing Coles supermarket in the immediate area".  
“The centre will deliver our investors high risk-adjusted returns with forecast income distributions in excess of 10 per cent per annum; significantly more attractive than from A-REITs investing in similar assets.”

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lschlesinger-FZcF9M3vE6

Moss Capital plans more shopping centre acquisitions after $32.6m Manning Mall, Taree purchase

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The NSW Treasurer Mike Baird has announced the $15,000 grant for new homes buyers will be extended until January 2016 in the upcoming state budget.
The first home owner grant was due to be reduced to $10,000 in six months time on 1 January, 2014. It now has another two years at $15,000 during which developers and home builders will pursue the recently hesitant first home buyer constituency.
"We're saying to every first home owner across the state, if you are thinking of buying - think new," Mr Baird said.
Mr Baird claim the incentive announced in last year's budget to take effect in October was "already seeing signs of life in the critical housing sector."
Critics have suggested the grant's new home limitation has meant there has been a luke warm take-up by first time buyers who have traditionally sought established homes. NSW office of state revenue data show Westmead headed the list of recipients in the year to April with 406. Parramatta had 205 and Liverpool 333 grant recipients.
The <a href="https://www.propertyobserver.com.au/tax/nsw-doubles-its-first-home-grant-for-new-homes/2012061255075" target="_blank">FHOG </a>was doubled in the expressed hope of "kick-starting" the state’s lacklustre home building industry, but first home buyer finance levels have remained low, according to the latest ABS data.
In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose slightly to 14.3% in April 2013 from 14.2% in March 2013.
But Westpac noted that first-home buyers remained the stand out weakspot in the approvals data.
"We estimate loans to this segment were up 0.7% (seasonally adjusted) in April but are still down 10.8% annually and at very low levels by historical standards, particularly in NSW and Queensland," says Westpac.
The number of home loans to NSW first-home buyer in the March quarter totalled 2,647 -<a href="/news"> 57% lower than a year ago </a>and a 40.6% fall in the March quarter alone, the latest Real Estate Institute of Australia (REIA) figures revealed.
The NSW stamp duty concessions for first homebuyers of new homes will remain, Mike Baird advised in the lead up to the 2013 State Budget.
<a href="https://www.osr.nsw.gov.au/benefits/first_home/general/fhogs/" target="_blank">The NSW $15,000 grant is for new houses and units costing up to $650,000</a>.
The NSW budget will be delivered on Tuesday.
Since last year's budget decision to cease the NSW $7,000 First Home Owner Grant most other states and territory's have implemented similiar limitations on the grant.
Property Observer's most recent update on the <a href="/news">state by state guide </a>was published after the decision by the ACT government to withdraw the $7,000 first-home owner grant as at August 31 and replace it with a $12,500 grant for new homes only from September 1.
It meant six states and territories have shifted their incentives in favour of what Ray White boss Brian White says is effectively a “builders’ grant”.
NSW, Victoria, Queensland, South Australia. Tasmania and the ACT have all withdrawn (or will withdraw in the coming months) their handouts for first-home buyers who buy an established home.
 
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jchancellor-FAypfDUnLy

NSW first home buyer grant to stay at $15,000 until 2016: NSW State Budget

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Wests Tigers champion Braith Anasta and his actor wife Jodi Gordon have officially lowered their price guidance on their recently listed four-bedroom, two-bathroom Clovelly home.
Initially <a href="https://www.propertyobserver.com.au/news/braith-anasta-and-jodi-gordon-list-clovelly-home-weststigers/2013060261856" target="_blank">more than $1.8 million </a>was being suggested for the two-storey semi, but now the agents are quoting $1.7 million plus.
Agents hope the lowering of the price guide might introduce stronger competition in the lead-up to next weekend's auction.
It was bought for $1,805,000 in 2011 by Anasta. It had sold previously at $1.76 million in 2009.
Its purchase by Anaasta was funded when the then Sydney Roosters captain sold a Malabar investment property for $1.32 million in early 2011.
It has been scheduled for June 25 auction through his estate agent brother Damon Anasta at McGrath Coogee inconjunction with his colleague, Mark McPherson.
Its initial price hopes were based on a Winchester Road semi that sold recently at $1.85 million.
RP Data gives Clovelly's median house price as $1.365 million, down 9.8% over the past year.
Its down 3.8% over the past five years, according to RP Data.
<a href="/news">The average discounting required of vendors is typically around 10% to secure a sale</a>. 
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Braith Anasta and Jodi Gordon lower their Clovelly auction price guidance

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Bank of New Zealand chief economist Tony Alexander has proposed eight ways the NZ government could act to cool down the overheating property market, though he expects there is little chance they will be implemented.
They include outlawing of sales of New Zealand residential property to offshore buyers and implementing a tax on New Zealanders who own property overseas.
In his latest weekly newsletter, Alexander warns of four housing problems facing New Zealand being: “affordability, bank exposures should prices fall, the New Zealand dollar’s surge as monetary policy fights housing sector inflation and physical accommodation availability”.
The latest data confirms that house prices have been rising strongly, most notably in Auckland, New Zealand's biggest property market.
In May Real Estate Institute of New Zealand (REINZ) figures showed the Auckland median house price increased to a new record high median price of NZ$565,000 (A$475,000) with median prices up 14.8% over the past 12 months.
But price rises have not been restricted to Auckland.
The National, Auckland, Christchurch and Other South Island Stratified Housing Price Indices all hit new record highs in May.
The Christchurch Index is up 13.1% and the Other South Island Index up 5.4%.
Alexander says the optimal solution to cool the market is a “quick jump in house supply combined with reductions in building materials costs”.
He proposes eight ways to achieve this:
<ul>
<li>First initiate a large builder training programme targeting not just youth but low skilled migrants. Yes, the  migrant gates would need to be opened. Just the signalling of strong intention to boost builder numbers  would make investors think twice about their capital gain assumptions.</li>
<li>Second, ban councils from imposing any development fees and allow developers to install their own infrastructure.</li>
<li>Third, create an SOE whose sole purpose is to undercut existing building materials suppliers through bulk purchases from offshore, nodal warehousing and distribution from just three or four locations in the country, with a separate agency responsible for monitoring the quality of materials sourced.</li>
<li>Fourth, initiate a new large state house building programme relying largely on the to be created new carpenters etc. Constrain new state houses to more efficient building systems including containerised modular housing (this doesn’t involve shipping containers), central and screwed in foundations, etc.</li>
<li>Fifth, ban house sales to non-residents (even new houses given the ease with which special developments could arise targeting solely folk offshore and soaking up construction sector resources).</li>
<li>Sixth, impose a tax on all houses owned by Kiwis offshore with the aim of encouraging them to sell them.</li>
<li>Seventh, put in place a capital gains tax on second properties and farmland and immediately payable stamp duty for all second house purchases.</li>
<li>Eighth, rezone all land within 10-20 kilometres of existing city boundaries as residential.
</li>
</ul>
However, Alexander says the chances of such radical policies (plus others) being imposed are “low, zero, zero, mild, mild, zero, low, zero".
Instead what he says will happen is that “some land will be freed up but it will little affect section prices, construction will soar and rising costs will force higher interest rates and a higher NZ dollar.
“The Reserve Bank will tighten high loan to value lending but the impact will be minimal and mainly encourage young buyers to raise more expensive  finance elsewhere (a big business opportunity looms there) or to leave the country to make a purchase overseas,” he says.
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Ban house sales to Aussies among BNZ economist Tony Alexander’s eight radical ways to cool down overheating New Zealand housing market

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Melanie Greensmith who runs the clothing label, Wheels and Dollbaby, with her partner Mark McEntee  have spent about $4.25 million on an apartment in the Spanish Mission style Del Rio apartment block in Elizabeth Bay.
Located on the Billyard Avenue dress circle harbourfront, it was the first time the home had been offered in 12 years.
Real estate agent Jaime Upton of Ballard Property Group says the ground floor apartment feels like a house due to its accessibility to the garden for the couple's dogs.
Its an apartment block often featured in prize <a target="_blank" href="https://www.artgallery.nsw.gov.au/collection/works/287.1984/">paintings</a> given its lovely setting between the iconic Elizabeth Bay House and the harbour.
Del Rio was designed by John Spencer-Stransfield in 1928, who is more famously known for designing the <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/1917-gilgunyah-bungalow-in-haberfield-secures-%2422-million-plus/2013051661190">federation suburb Haberfield</a>.
The 2009 Belle-featured apartment was purchased in October 2001 for $1.96 million and has undergone $1.5 million worth of improvements by designer Garth Barnett.
The property originally had a three-bedroom layout - with the third bedroom used as the maid’s quarter - however its been transformed into two large comfortable bedrooms.
The property features soaring ceilings, French parquetry and travertine floors and two marble-finished bathrooms.
Its vendor was Charles Wilkins, a leading Sydney caterer who bought it in 2001 from Stuart and Kerry Lodge through estate agent Shannan Whitney for $1.96 million.
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Divine Del Rio, Elizabeth Bay trophy garden apartment sells to fashionista Melanie Greensmith

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The spun-off Woolworths shopping centre portfolio, Shopping Centres Australasia (SCA Property Group) has acquired a portfolio of seven neighbourhood shopping centres in Victoria and Queensland from a  private investor, for $135.8 million.
The portfolio of seven neighbourhood shopping centres acquired comprises:
<ul>
<li>Alfred Square, VIC ($20 million on a 7.5% cap rate; 100% occupied; 8,964sqm GLA; 11.6 yr average age; anchor tenant 89% of gross income)</li>
<li>Burdekin Plaza, QLD ($18.7mn on a 8.0% cap rate; 96% occupied; 5,513sqm GLA; 26.6 yr average age; anchor tenant 84% of gross income)</li>
<li>Drouin Central, VIC ($12.3mn on a 8.0% cap rate; 99% occupied; 3,798sqm GLA; 4.6 yr average age; anchor tenant 79% of gross income)</li>
<li>Langwarrin Plaza, VIC ($17.2mn on a 7.8% cap rate; 98% occupied; 5,087sqm GLA; 8.5 yr average age;anchor tenant 54% of gross income)</li>
<li>Ocean Grove Marketplace, VIC ($29.9mn (incl. A$0.5mn of surplus land) on a 7.5% cap rate; 96% occupied; 6,910sqm GLA; 8.5 yr average age; anchor tenant 50% of gross income</li>
</ul>
The acquisition will be funded via a $90 million institutional placement and subsequent unit purchase plan (UPP), at $1.58 per share.
The A-REIT  was placed in a trading halt yesterday pending the announcement.
Goldman Sachs A-REIT analyst Andrew Macfarlane says the investment will increase Shopping Centres Australasia’s gearing 34.3% to 35.0% at the top end of management’s target range while net tangible assets will decrease from $1.58 to $1.56.
“While muted rent growth and the roll-off of Shopping Centres Australasia’s two-year rental guarantee provided by Woolworths arguably remain key issues for Shopping Centres Australasia, today’s acquisition goes a small way to diluting the potential shortfall in the 2014 financial year, Macfarlane says.
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Shopping Centres Australasia buys seven shopping centres for for $135.8 million

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Non-bank lender Liberty Financial has cut interest rates on its commercial lending products by up to 100 basis points.

The Melbourne-based lender is offering the lower rates for new customers with its flagship Enterprise full-doc commercial mortgage product starting at 6.8%, reports Australian Broker online.

The product is available for loan amounts from $150,000 to $10 million and aimed at owner-occupiers, small businesses or investors seeking to finance commercial property purchases.

It required a minimum 20% deposit with a 30 year loan term for owner-occupiers and 15 year loan term for investors.

A 6.8% starting rate also applies to its LeaseStream loan for commercial property investors also covering loans from $150,000 to $10 million with a maximum 15 year loan term.
GM of commercial finance, Suresh Pillai, said reductions of 100 basis points had also been made on its low-doc rates now start from 7.40% per annum.


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Liberty Financial cuts commercial loan rates by 100 basis points

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If you’ve been reading my property investment blogs, you’ll know that I feel confident in the long-term prospects of our property markets, which will be underpinned by the dual prongs of a growing population (which will require housing) and the fact that we are a wealthy nation (we can afford to pay for housing).
I know some commentators are concerned that our economy will slump as the resources boom slows down and some doomsayers are gloating that the property market has fallen for two consecutive months.
But I see it differently.
We are entering a new economic stage; a period of continued prosperity, albeit at a slower pace. This stage will be underpinned by a generally buoyant economy.
It’s much more than just resources
Sure, the construction phase of the resources boom is coming to an end and other sectors of the economy will have to step up.
And yes, our economic growth will slow down a little over the next few years, which will keep interest rates and inflation low.
But it’s not all doom and gloom.
Government analysis last year suggested that over the next five years we’ll need an extra 800,000 workers to ensure our continued economic growth as a surge in service industries eclipses the resources boom.
This means there is a looming structural shift in the jobs market as demand grows for professional skills, offsetting the expected loss in the manufacturing sector.
A regional shift is forecast as Queensland outstrips other parts of the country in job creation, adding 220,000 positions compared with about 190,000 in NSW, 180,000 in Victoria, 150,000 in Western Australia and 50,000 in South Australia.
Countering assumptions about our economy slumping as the resources boom slows down, the findings of the report show the service industries will need more workers than any other part of the economy.
While mine companies will need about 100,000 new workers over the next five years, healthcare and social assistance employers will need 240,000 staff and professional services companies will require 110,000.
Education, tourism, retail and financial services will also create new jobs as the manufacturing sector shrinks.
The forecasts come with danger signs, as 19 of the 20 strongest job categories require qualifications higher than secondary school.
"The structural change in the Australian labour market and the significant shift towards higher skills occupations will limit the opportunities available to job-seekers without appropriate levels of qualification, work experience and employability skills," the analysis says.
 
<hr class="system-pagebreak">
What about our ageing population?
At the same time that we need more workers, our population is ageing, and in many ways this could provide a greater challenge for us than population growth.  
Demographer Harry Dent caused a stir when he suggested that our ageing population and its lack of spending is going to cause the next depression. The fallout of a baby boom gone wrong has been witnessed in Japan, where the number of retirees escalated beyond the number of working age citizens and had a notable impact on their local economy.  
Dent suggested that Australia is facing its own demographic tsunami as more of our Baby Boomers hit retirement age.  
Again, I see it differently: we are going to have to populate or perish.  
Look at the facts. Today, 43% of our workforce is made up of Baby Boomers (people born between 1945 and 1964).  
The Baby Boomer crisis 
Think about it. Australia is on the crest of a demographic tsunami as Australia’s 5.3 million Boomers are going to reach retirement age over the next 15 years.
The country's money box faces a double whammy as these Baby Boomers leave the workforce and stop paying tax, yet at the same time many will go on the pension and use our public health care system.
The problem is that most Baby Boomers don’t have enough savings or superannuation to see them through retirement.  This means many will have to keep working longer than they had anticipated but eventually, when they do retire, they will place a massive burden on our financial system.
The government will have to find money for their pensions and health costs while at the same time making up for their lost taxation revenue by either:
<ul>
<li>
Increasing taxes on those in the workforce, which would be political suicide, or;
</li>
<li>
Increasing the size of the tax-paying workforce by importing younger workers. These young skilled adults that will migrate to Australia to fill our increasingly wide gap in skilled labour will be gainfully employed and, given their skills, will earn high incomes and pay their share of tax.
</li>
</ul>
Fact is Australia's population will keep getting bigger under every realistic scenario and no matter what politicians do, population growth is going to happen. This is a certainty.
What does this mean for Australia?
There is no doubt that our population growth will bring with it significant social, infrastructure and environmental impacts.
In Australia at present, 87% of us live in urban areas. There is an obvious emerging trend toward smaller dwellings and inner-city lifestyles, which means more of us are going to be concentrated around our major capital cities.
With more and more of us wanting to live in the same four big capital cities, and in fact in the same suburbs of those capital cities, our old friend the supply and demand ratio will keep pushing up the value of well located inner suburban properties.
Sure, these properties will be unaffordable for some of us who’ll remain tenants. But others will be able to afford these higher priced properties, as I don’t think that anyone would argue that as a nation Australia will become wealthier over the next few decades.
The good news is that by many accounts Australians are already the wealthiest nation in the world and if we play our cards right, this is likely to continue as Australia is well positioned to benefit from the growth of Asia, which represents 50% of the world’s population.
Yes, our economy is slowing down, and of course there will be speed bumps along the way, but our economy is still the envy of most developed nations.
It’s most likely we’ll have a change of government later this year but the new government will inherit a particularly good set of economic fundamentals. This means Joe Hockey will likely be able to deliver much the same in his first term in government.
If he can keep GDP growth near 3%, underlying inflation around 2.25% and the unemployment rate around 5.5% then we’re likely to remain in a low interest rate environment.
The bottom line is that our economy is going to soldier on, as are our property markets. I can’t see a bust ahead for either!
Michael Yardney is a director of <a rel="nofollow" href="https://www.metropole.com.au/">Metropole Property Strategists</a>, who create wealth for their clients through independent, unbiased property advice and advocacy. Subscribe to his <a rel="nofollow" href="https://propertyupdate.com.au/category/property-investment/">Property Update</a> blog.
 
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Despite gloom our economy and property markets will soldier on: Michael Yardney

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Here are three of the most common questions I get asked:  
<ol>
<li>
“When will the market recover and how can you tell?”
</li>
<li>
“What’s hot?” Which really translates to “What should I buy?”
</li>
<li>
“What makes a good investment?”
</li>
</ol>
The first two questions were answered <a href="https://matusikmissive.com.au/2013/03/19/why-does-property-cycle/" target="_blank">here</a> and <a href="https://matusikmissive.com.au/2013/05/14/what-should-i-buy/" target="_blank">here</a>.  Today we cover the third one - what makes a good investment?  
As many of you know, it is my opinion that property investors spend far too much time on ‘where’ they should buy and not enough on ‘what’ they should be buying.  And while part of my reply as to what makes a good investment has to do with ‘place’, most of it relates to the actual ‘product’.
When I cover this question in our “Market Outlook and What To Buy” <a href="https://matusik.com.au/projects/book-matusik-today/" target="_blank">presentations</a>,I usually raise my hand and say, “If the property passes my five finger test then, for mine, it is has a great chance to be good investment.”
My five finger test  
Market Depth. How deep is the market you are buying into?  In other words, how many sales take place in the area each year and in particular, how many sell within the price band in which you will be reselling your property?  Median prices provide little guidance to you here.  You need to know the actual sales volumes by price group.   
 
A short cut here is to buy in areas with economic diversity.  One or two horse towns are out – I don’t care how great the yields may be – unless there are many irons in a location’s fire, they usually aren’t good places in which to buy investment property.  Stick to the capitals and major centres.  Why?  Because there will be enough market in the future for you to actually sell to.  Rule 1 is market depth.  
Owner-resident resale appeal. Does what you are buying have owner-resident resale appeal?  Is the general area attracting more owner-residents over time?  Why this is important is that it doubles your resale audience, as there are twice as many owner-resident buyers across Australia than investors.  You should always buy a product that has the potential to resell to an owner-resident.  Small projects; well-sized and well-designed; good aspect; view if possible; and local gentrification are just some of the things to look out for.  
Potential upside. What is the location really like?  It needs to have high amenity – this helps with regard to owner-resident resale appeal plus better tenants – and use <a href="https://www.walkscore.com/" target="_blank">walk score</a> to make initial judgements about a location.  
Also, there must be employment generators in the area and employment numbers need to be growing.  Don’t worry too much about local unemployment; it the number of actual local workers that mean the most to you as an investor.   The ABS Census can help <a href="https://www.censusdata.abs.gov.au/census_services/getproduct/census/2011/communityprofile/3GBRI?opendocument&amp;navpos=230" target="_blank">here</a> and use the working community profiles.  
And thirdly, is there any new infrastructure proposed in the area?  Most councils have such information on their websites.  Pollies love to cut ribbons and open things, so government departments document such things in advance.  The best things that help drive up value include transport initiatives, especially public modes such as railway stations; new offices or retail expansion and major new developments like hospitals, schools and to some degree industrial estates.  
Rental appeal. I used to think this part was bloody obvious; and I am always amazed when I ask an investor (or developer for that matter) to describe who is actually going to rent the property, and all I get is a blank stare.  Sometimes they reply by saying, ‘renters’.  I kid you not.  
You need to understand who and why a certain type of rental demographic will rent your property.  You need to know how many of that rental demographic subset lives in the area.  Your property should appeal to two out of three of the largest rental demographic segments in the local area.  Again the <a href="https://www.censusdata.abs.gov.au/census_services/getproduct/census/2011/communityprofile/3GBRI?opendocument&amp;navpos=230" target="_blank">ABS Census</a> can help; this time look at the community profiles and you will have do to some basic maths.  
For example, does your one-bedroom apartment in New Farm appeal to a single female renter?  Does it also appeal to a young couple in their mid-20s to early 30s?  Does it also appeal to older single males?  Well, if single females rent in the same building then one could say yes…but you get my drift.  
Who will rent your property and why?  And does that rental market segment exist in the area?  These are three important questions.  Getting ticks in the right boxes here means a better investment.  
Finally, could you live in it?  If things went cactus, could you live in this property for a period of time?  This isn’t really a financial safety net; but it usually means that the property has ‘good bones’ and a half decent standard of finish.  This translates, in turn, to better tenants who stay longer.  
A good residential investment needs to pass a simple test.  When I work on a new residential project which is looking for Matusik endorsement, it must pass nine detailed <a href="https://matusik.com.au/projects/what-is-property-picks/" target="_blank">variables</a>.  My five finger investment test is an abridged version of Matusik Property Picks.  It covers all the bases.   
Readers should seek their own professional advice on the subject being discussed.
Michael Matusik is the founder of <a href="https://www.matusik.com.au/" target="_blank">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.  Read <a href="https://www.matusikmissive.com.au/" target="_blank">Michael’s Blog</a> or follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik">LinkedIn</a>.
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Five tips for making a good property investment: Michael Matusik

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At $612,500, Darwin again trumped Sydney for the dearest weekly median house price, based on RP Data analysis in the week ending June 9.
Sydney's $510,000 unit median was the week's dearest capital for unit sales.
<img alt="rpdatacapitalcitymediansjune12one" src="/images/stories/2013/06/rpdatacapitalcitymediansjune12one.jpg" width="470" height="279">
<img alt="rpdatacapitalcitymediansjune12two" src="/images/stories/2013/06/rpdatacapitalcitymediansjune12two.jpg" width="470" height="206">
Private treaty sales represent around 85% of all dwelling sales across the country.
The statistics are calculated across houses and units sold over themost recent four week period.
Records without a valid sale price have been excluded from the analysis and median prices are withheld for cities wherefewer than ten sales have been recorded.
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