<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]

Joel Robinson

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

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Apartment buyers in New South Wales are set to gain a decade of insurance-backed protection against major building defects, after the NSW Parliament passed the Fair Trading and Building Legislation Amendment Bill 2026.&nbsp;

The Bill establishes decennial defect insurance, known in the market as Latent Defects Insurance (LDI), as an alternative to the existing two-year strata building bond. It cleared the Legislative Council with amendments on Tuesday evening (August 4, 2026), with the Legislative Assembly agreeing to those amendments shortly after.

Under the reform, eligible developers can satisfy their statutory bond obligation by taking out an approved decennial-style policy that gives owners 10 years of cover for major structural defects from completion, claimable directly, without first having to pursue developers or builders through costly legal action.&nbsp;

[smartcode_project:default project_id=111820 project_image_fid=344699]

The change forms the final tranche of amendments arising from the 2021 statutory review of the Strata Schemes Management Act 2015 and related legislation.

Resilience Insurance, which originated the cover in Australia and has delivered it in NSW since 2022, welcomed the passage and credited the NSW Government for delivering it.

“This is protection apartment buyers have needed for a long time, and the credit for delivering it belongs to the NSW Government,”&nbsp;said Corey Nugent, CEO of Resilience Insurance.

“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into. Reform like this is what good, evidence-based regulation looks like.”

Resilience has delivered LDI in NSW since 2022, protecting thousands of apartments, giving the State, and now the country, real-world evidence of how decade-long, no-fault protection works in practice.

[smartcode_project:default project_id=136442 project_image_fid=374084]

The reform also places NSW within a wider national shift.

NSW is the third jurisdiction to put decennial cover into law. The ACT legislated for it in 2024, with the scheme taking effect in late 2025, and Victoria passed its own framework on 17 June. Between them, the three cover the majority of Australia's apartment market.

The reform commences once the legislation is proclaimed, which is expected in the coming weeks. From that point, developers of Class 2 residential apartment buildings can meet their statutory obligation with an approved decennial policy in place of the bond.

Buyers who purchased into projects that took out the cover early are among the first in the country to take keys to apartments carrying decade-long structural protection.

“With the legislation passed, the focus now turns to making it work for buyers,”&nbsp;Nugent said.

“There are already thousands of apartments in NSW covered by this insurance, bought by developers who moved early. The question every buyer should be asking in a display suite is a simple one: does this building come with 10-year defect cover, and who stands behind it?&nbsp;

“We look forward to working with the Government and the Building Commission in coming weeks as the framework moves to implementation, and to sharing what we have learned over the past four years so the protection reaches owners as smoothly and quickly as possible.”

[smartcode_project:default project_id=134954 project_image_fid=4553]

Other states are working through their own reform programs. Western Australia has indicated that decennial cover is within consideration a later stage of its reform sequence, and Queensland has been examining the settings as it looks at the development pipeline ahead of the 2032 Olympics.

Resilience Insurance acknowledges the NSW Government’s continued focus on strengthening consumer protection while supporting housing delivery across the State.

Fast Facts: What the reform means

<ul>
	<li>Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li>10 years of cover:&nbsp;Protection for major structural defects runs for a decade from completion, claimable directly and with no legal action required.</li>
	<li>An alternative to the bond:&nbsp;Eligible developers can meet their statutory obligation with an approved decennial-style policy in place of the 2% strata building bond.</li>
	<li>Part of a national shift:&nbsp;The ACT has had decennial provisions in force since 2025 and Victoria passed its framework in June. NSW now joins them.</li>
	<li>No-fault, first resort:&nbsp;Owners corporations claim directly from the insurer without first having to establish who is liable for the defect.</li>
	<li>Cost-competitive:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the 2% bond while offering broader, longer protection.</li>
	<li>Market position:&nbsp;Resilience originated LDI in Australia and has delivered it in NSW since 2022.</li>
</ul>

Fast Facts: What is Resilience LDI?

<ul>
	<li>Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li>Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li>Cost advantage:&nbsp;At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.</li>
	<li>Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

NSW parliament passes 10-year defect insurance laws for new apartment buyers

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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As we start 2013 I want to briefly return to all of the various themes that I think will be key issues for project marketing professionals this year, starting with one key aspect of demographics. In particular how we will need to continue to take full account of Australia’s ageing population. 
I think we always need to keep the spotlight on this topic because from how projects are designed and then taken to market, demographics are central, and the impact of an older market is now a reality. One key issue is as baby boomers move into retirement how it’s going to directly shape many aspects of our work.
To start this topic I would firstly like to relay some published figures to help clarify why this aspect of demographics will be important.
Today (according to the ABS) there are some 7 million Australians over the age of 50, and while that is around 32% of the population they control 68% of the wealth. Clearly how this group spends money and invests is a core part of the economy and this includes the housing market at its heart.
However, there is already a robust discussion taking place about how baby boomers might plan their retirement, and possibly not surprising, after the GFC the number planning to work until they are 70 has greatly increased. This could make the employment outlook more complex.
One reason for this is understood to be the gap between retirement savings, including retirement savings, and the amount needed for a comfortable level of retirement income. For many people this reality may well involve a detailed consideration of if and when the family home might be sold, to help fund retirement plans and future health care. However there is some divergence here because there are many benefits now attributed to living at home including the wider use of home based health care.
As a group older Australians are enjoying better health and now as we live longer for a couple aged 60 today, there is (according to the ABS) every chance that one will live beyond 90.
In a report Surviving Longevity published by Rice Warner we can find a clue as to how housing options might change between the ages of 60 and 90 and hence how this group will be relevant to how some projects are planned and then sold.
The report suggests three stages of retirement, which is summarised as ‘active’ from 60-65 to 75, ‘passive’ from 65 to 85 and ‘frail’ from 75-85 and beyond. I think it is already established that during these stages how and where people choose to live will and does vary.
If, for example, in the first ‘active’ phase there is a desire to get out and about, with travel and hobbies more a priority, thus it may well be the ideal time to sell the family home and downsize. According to a report produced by the MLC 49% of people are looking forward to their retirement, and this already apparent trend may well start to escalate in 2013.
From only a brief look at this one topic there are many other aspects of the market that could be directly impacted, these would include investor demand, apartment design and amenities, changes to infrastructure and changes to tax policy, with the later already being a reality when it comes to superannuation.
As usual demographics are as always an interesting topic, and I will continue to look at other key factors for 2013 during January.
Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
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pchittenden-eLqUUC8TWW

How Australia's ageing population will affect residential development

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Speculation has been rising in the housing industry since the RBA made its last 0.25-percentage-point cut to the cash rate, bringing the official figure to the post-GFC 2009 "emergency" level of 3%.  Now with rumours the banks may move outside of the central bank’s cycle and make ‘self-initiated’ rate cuts of their own, industry professionals are declaring a better year ahead for property prices than experienced over the previous two – and thus we start the crystal ball gazing.
However, as has been broadly noted, the standard variable mortgage rate remains some 0.6 to 0.8 percentage points above that of 2009, when it was sitting at 5.55% and prices were rising sharply.  Additionally, the strong Aussie dollar is still affecting our terms of trade, and although unemployment data has improved of late (falling to 5.2% in November 2012 from 5.4% in October – although this week's figures may reverse the trend), Victoria’s results aren’t so positive.
In Victoria, a series of job cuts announced by building products maker Boral, which shed 90 positions in its plant near Geelong a number of weeks ago, most recently BlueScope Steel, which announced a further cut of  170 jobs from its Western Port facility in Hastings, and additionally from major companies such as Qantas, which announced the loss of 263 positions from its Avalon base late last year, increased Victoria’s jobless rate to 5.5% from a previous 5.4% – a figure that will go some way in restraining any potential house market gains in this region throughout 2013.
Additionally, Australia-wide economists are warning of ‘softer conditions’ for the rest of the year, which could potentially push the national unemployment rate to 5.7% by December 2013 with the most alarming reports showing <a href="https://www.theage.com.au/data-point/job-losses-retraining-snags-blamed-as-those-at-peak-claim-allowances-20130102-2c5nd" target="_blank">“those aged 25 to 34 and 35 to 44”</a> are the two biggest groups currently receiving Newstart payments – a point of serious concern.
Taking this into account, along with the consideration it’s an election year, which never inspires market gains, I suspect there’ll be little change to our current environment of ‘debt-adverse’ investor sentiment for much of the year – and along with that,  little change in house prices.
In fact, regardless of the constant spruik on the effect of low interest rates on house market prices that is broadly assumed by  many armchair commentators within the property industry, a look at the long-term data shows the connection is in fact pretty weak – a point that has been noted in several academic papers and can be clearly assessed from previous boom and bust cycles (something I may delve into further in a future column).
In other words, you would be hard pushed to find any long-term historical correlation between growth in ‘nominal’ house prices and the change in interest rates – and as for ‘real’ house prices (which accounts for inflation) movements tend to be in the ‘same’ direction rather than the opposing direction as some would expect – meaning as rates, rise so do prices.
Although it may seem logical to assume lending rates initiate price changes, other economic factors play a far greater influence, and unless the needed ingredients are combined, interest rates on their own can do little to change the housing market terrain by any significant degree.
When interest rates are low and more significantly falling, it stands to reason, expected growth in the economy is waning, which doesn’t inspire anyone to take a punt on growth assets considering the low inflationary environment.
Conversely, interest rates rise in response to a ‘flourishing’ economy during which a period of wage growth and healthy employment data underpins investor confidence (hence why periods of rate rises often accompany housing price rises.)
In such an atmosphere, it’s often the panic invested ‘rush to buy’ before prices escalate out of reach, that fuels a boom cycle outside of any change to the cash rate – thereby providing the bullish atmosphere many buyers unfortunately require in order make their move.
As a typical reaction, it takes a series of sharp upward movements in the cash rate in an attempt to defuse the bubble before it overheats – (as was witnessed in 2009-10) –  and even then, prices typically plateau for a period before other factors come into play and a notable ‘correction’ is observed.
 
<hr class="system-pagebreak">
 
Currently, regardless of falling rates, other economic data provides little promise of broad-based asset growth (setting aside the obvious disclaimer that certain micro markets are likely to buck the trend). Therefore, understandably, many investors are looking elsewhere for profit, and the competition needed to initiate property prices is simply not prevalent without further economic changes (which are not at this stage anywhere on the horizon.)
Furthermore – as was seen throughout the year, despite buyer activity remaining woefully low, home owners unwilling or unable to sell their properties tend to withdraw from the market rather than drop prices further, preferring to wait for better times ahead than respond to market demands.  This could be another reason the change in house prices this year has been lower than last leading many to assume we’ve reached six on the property clock – (a position I suspect we will retail for a while yet).
There are however always winners, and in the current atmosphere it’s obviously the mortgage holders.  In Victoria October was the fourth consecutive month and longest period to date during which more mortgages were discharged than lodged as vendors took advantage of competitive lending rates to reduce their debt.  This brings the annual decrease of mortgages to 1,998, which when compared to 2011, is an increase of 726 discharges.
The results are mirrored elsewhere, with national data showing the preference among consumers remains firmly in the ‘safety zone’ of paying down debt and saving – a seemingly sensible environment that has thus far upset the RBA, which is all but counting on property investment to take up any slack from a post-peak downturn in mining – not to mention the government, with a 2013 surplus well and truly off the agenda.
As Glenn Stevens noted in an interview published in a recent edition of the Australian Financial Review ,it’s “most surprising” that the property sector has thus far not reacted (to lower rates) as expected.
Is it really? Surely it should be clear as daylight considering the other market indicators shadowing Australia’s investors – and even with further cuts to interest rates broadly assumed by the majority of economists, the level of uncertainly regarding the performance of the housing market continues.
Forecasts for the year ranging from 3 to 5% by Australian Property Monitors,  4 to 5% by AMP Capital, a more bullish 6% and 8% for Sydney and Brisbane respectively from BIS Shrapnel (which emphasises the changes will “jump” following the federal election – as if property purchasers are all going to suddenly let their hair down in and end of year buying spree).
And a remarkably ‘bullish” prediction of 10% (!) from <a href="https://gulfnews.com/business/property/international/australia-home-prices-seen-rising-10-on-rate-cuts-1.1128423" target="_blank">Janu Chan</a>, a Sydney-based economist at St George Bank – who I suspect may have purchased his crystal ball at a discounted price – and most notably Stephen Koukoula,s who bases his assumption on an additional ingredient  “that house prices in the first 10 days of 2013 have already risen by 0.6%”.
(I argue against the foolishness of relying on a “daily house price index” to reliably predict ongoing trends here)
The weeks leading up to Christmas are generally the busiest of the year in the property market.  Yuletide provides a natural deadline for home buyers desperate to make their move prior to the January break (during which the real estate industry and various offshoots take their annual breather).
Post-Christmas, most are still recovering from too much food, drink and weighty credit card debt to pay the property market much attention – a figure usually reflected in the first quarterly results, which on the face of it typically show weakening conditions.
Speculation that growth in the economy will fall to 2.5% during the year ahead – well below the usual trend of 3-3.25% – is why many are ‘assuming’ a further 25- to 50-basis-point drop is needed if we’re to stimulate the ‘non-mining sectors’ of our economy into a positive environment.
Should this occur and the banks ‘pay it forward’, it will take lending rates low enough to provide a greater incentive for potential property investors to make their move (especially considering long-term deposit accounts will no longer  provide a viable alternative option.) I’d advise any property buyer to err on the side of caution and keep a long-sighted view on the term of any investment they venture into.
As has been noted, it’s an election year, and it can’t be denied that property and politics have close ties. Changes to policy such as inflationary grants and tax incentives, for example, are the best weapons against the housing market, do bear influence on market prices.
Of course, in any market there are always losers – and in this market, it’s without doubt the oft-ignored renters who face erosion to their savings, rising yields, and a market that isn’t providing enough suitable and affordable accommodation in which to secure long-term tenancy. This is an issue I’ll address in my next column.
For the time being I’d take any crystal ball prediction with a pinch of salt – there are quite simply far too many resounding uncertainties looming ahead to make any assumptions.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
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catherinecashmore-6LXia3pPQj

Interest rates do little to influence Australian property prices

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There was a marked decrease in the amount of time it took to sell property in Perth in December 2012 compared with December 2011, according to Australian Property Monitors.
Perth property took an average of 125 days to sell in December 2011, but in December 2012 that number had dropped to 104 days.
The APM report on the number of days on market indicator recorded an increase across 2012 in all other capitals except Canberra, where it remained steady at 78 days.
The biggest increase was in Brisbane, where the number of days on market increased 14%, from 120 days in December 2011 to 137 days in December 2012. 
In the December 2012 month Hobart's rate of sale quickened, but Brisbane fell back noticeably. In December 2012 Sydney's days on market stayed about the same, while in Melbourne it took an average of five days more to sell than in November 2012. 
The latest Darwin December 2012 figure dropped in an unusual way, suggesting it might not yet be considered a permanent realignment. 
 
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/01/apmjan141.gif" title="Click to enlarge"><img src="/images/stories/2013/01/apmjan141thumb.gif"></a>
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cknowlton-QnEa6ntUYP

Property selling faster in Perth in December 2012 than December 2011

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Those expecting a "get rich quick" list of tricks will be disappointed. If you are reading this and you have even a slight interest in using property as a vehicle to grow wealth and prosperity, you’ll know that most property investors employ a mid-long-term strategy instead of a ‘get rich quick’ one. If ultra-fast profits, aka ‘get rich quick’ schemes, is your ambition in the property investment sector, then my advice is to seek other types of investment! Instead, I’ll list tricks that are more about thinking outside the square, or perhaps processes that can be made more efficient to either save time or money, during your property investing career.
1. Be stamp duty conscious and don’t be afraid to take advantage of states where duty is less extreme.
One of the biggest hurdles in getting started in property investing is the stamp duty element. It sucks, but for a long time, it has been a necessary evil. Those buying their own homes may be able to avoid it, but investors must pay this upfront. The best thing you can do is keep yourself updated on state-by-state nuances when it comes to stamp duty.
There has been a lot of talk recently about it being scrapped in some states in order to help kick-start the housing industry in those states. My thoughts are that any scrapping in stamp duty purchase costs will come back as some form of tax or another. Perhaps higher land taxes or other state taxes would replace them. Still, assuming for now that stamp duty won’t be scrapped, you should investigate states where these costs are reduced.
When I refer to stamp duty, I refer to three charges actually, that must be paid for, per state, at purchase. These are the stamp duty itself (the biggest portion), the transfer fee (this can vary from as little as $100 up to thousands), and mortgage registration fees (a very minimal charge). For example, on the same $300,000 investment property price, you could be paying as little as $8,873 in the ACT, or up to $14,041 in VIC. The difference of $5,000 could be a make-or-break factor for first-time or new investors.
2. Pay down your bad debt while you are doing your due diligence. 
 This is a big one, and one of the easiest to do. Personal debt (which most, including myself, call 'bad debt' because it is debt that is not producing an income) can hurt your chances when working with a lender (or a broker who engages lenders on your behalf). I read somewhere that for every $1,000 of credit card debt, personal loan debt, or other debt that you can pay out, it can add around $5,000-$10,000 of loan capacity to your status. Not sure how true that is, but my trick is to use your due diligence time (say three to six months of intense research) to aim to pay off as much outstanding debt as possible. You'll be surprised at how much more a lender will loan you when you have little to no personal debt. The additional volume of loan you can then have may enable to you to invest in a more desirable investment property than you initially hoped for.
3. While on finance – get used to the word 'no' and use it to your advantage. 
 The trick here is all about lenders saying no. Those who employ the services of a mortgage broker are less likely to have an ‘absolute no’ (in other words, not one single lender willing to lend to you). But even then, never accept a ‘no’ from a lender as defeat. Banks and other lenders, while tightening their purse strings in the past year or two, are still willing to lend, you just have to find creative ways to agreeing on a product-type with them. 
 
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4. People watching!
No, not in a perverted neighbourhood peeping Tom kind of way, but more in a 'walking the streets, eating in the restaurants, and sitting in the local park on a Saturday' kind of way. Get to know your target suburb occupants firsthand by witnessing them in their daily lives. Why? This can help give clues as to the kind of property type to buy.
Census data and other data sources cannot always be trusted in capturing the snapshot of who really lives in a suburb, so you need to see this first hand. It'll help inform your decisions about dwelling type, bedroom volume, and demand for proximity to certain amenities. For example, if you see lots of very young families with babies – despite data telling you otherwise – those babies will likely need pre-school within a couple of years. It may be worth considering proximity to pre-schools as a factor in your property search.
5. Always keep your eye on the prize by having an exit strategy up front. 
 Too many new investors – including yours truly – tend to focus much of their energy on the acquisition stage. Some people are heavily focused on growth, so they set targets like 'I want to acquire one property a year for 10years, and then hold'. But then what? Selling up, or 'cashing out', as some call it, is a process that must be planned for, up front, by collaboration with an account, an advisor, and with your personal dreams, hopes, and aspirations. That last part is the most important bit, and should be the dictator of when it's time to cash out.
If you are like me, you'll want to be spending most of your 50s and beyond cruising down the Nile River for six months of the year, or trekking through Alaska or something. You need to figure out how you are going to dump as many of these properties as possible, at the right time to achieve your goals. If you have 10 properties you may want to offload over half of them, but beware: this process could take many years to do it in the most tax-effective way. Starting out, you must focus on the start, but so too should you map out when you want it all to end.
6. Build your industry relationships and foster them.
Build solid relationships with your ‘crew’ (as I like to call them: your mortgage broker, solicitor, planner, accountant, managing agents etc). I send them all a Christmas card every year. It sounds like a minor thing to do, but little touches like these, help keep the relationship strong. In effect, you are paying all of these people to do work for you, so really, you are their customer. If anything, they should be sending you a Christmas card! But being polite, while being assertive, helps to maintain a good relationship. I’ve known investors who treat their crew terribly, getting angry at them all the time over small things, being rude and demanding on calls with them. This attitude can come back to hurt you later on if you need to call upon them for a favour; the favour may be met with resistance or little interest.
7. Be more organised. 
 A pretty obvious one, but as you start to collect data, due diligence research and then move to a property purchase and ongoing management of it, you’ll collect lots of information. If your day job is in an office, you are probably pretty organised when it comes to paperwork, Microsoft Office files, and so forth. For those who do not work in such an environment, you need to become very savvy, very quickly, with data filing and admin. It sounds boring, but having everything organised and easily/quickly accessible is key. Some areas you can make more efficient are:
<ul>
<li>File naming conventions. Keep successive versions of your spread sheets, word documents, and pdfs logically named, and filed in the correct folders</li>
<li>Back everything up. Ideally you’ll have some kind of network-attached storage that can duplicate every ‘save now’ in a document, on a second drive or space, so that data loss is avoided</li>
<li>We still live in a print world, sadly. This means you’ll get lots of bills, notices, and contracts in print. Ensure you keep these filed in logical lever arch folders, or invest in a filing cabinet and employ a consistent filing convention to ensure nothing is misplaced.</li>
<li>Keep a log of all expenses close to where you keep the receipts for them.</li>
<li>Generally speaking, keep everything that any key party (lenders, solicitors, estate agents and so on) sends you, even if you don’t think you’ll need it later on.</li>
</ul>
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a target="_blank" href="https://propertyspectator.blogspot.com.au/">Property Spectator.</a>
 
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cmcevoy-Go82SmsJA9

Seven smart moves when buying your first investment property: Cameron McEvoy

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While credit rating agency Fitch is forecasting Australian property prices to <a target="_blank" href="https://www.propertyobserver.com.au/residential/stable-outlook-for-australian-housing-market-but-no-price-gains-in-2013-fitch/2013010958671?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">go nowhere in 2013 </a>as the market continues to stabilise, Australian commentators and analysts are more expectant of some gain over the next 12 months.
The strongest outlooks are for Perth and Darwin, both beneficiaries of the mining investment boom, while the prospects for Sydney and Brisbane are also sound.
As for the other capital cities, flat markets are in prospect with analysts particularly bearish about Melbourne and Hobart.
Fairfax-owned Australian Property Monitors (APM) is forecasting prices to rise a modest 3% to 5% over the course of the year, but with quite different outlooks for the major capital cities.
APM is most bullish about Perth, tipping property prices to rise by between 5% and 7% over the year, with a similar outlook for the smaller Darwin market.
There are modest property price gains tipped for Sydney, following a decade of near stagnation, with APM expecting rises of between 3% and 5% ,with similar expectations for Brisbane.
At best, Melbourne and Canberra will experience gains of 3%, says APM, while no change is expected in Adelaide and Hobart.
Both BIS Shrapnel and Hotspotting.com.au’s Terry Ryder are bullish about Perth and Darwin, with Ryder expecting double-digit growth in both these cities. Ryder also expects Sydney and Brisbane to perform strongly.
For both BIS Shrapnel and Ryder, Melbourne, Canberra and Hobart are the clear weak spots.
Property price forecasts for 2013
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
APM
</td>
<td width="154" valign="top">
BIS Shrapnel
</td>
<td width="154" valign="top">
Terry Ryder
</td>
</tr>
<tr>
<td width="154" valign="top">
Sydney
</td>
<td width="154" valign="top">
3% - 5%
</td>
<td width="154" valign="top">
2.7%
</td>
<td width="154" valign="top">
5% - 10%
</td>
</tr>
<tr>
<td width="154" valign="top">
Melbourne
</td>
<td width="154" valign="top">
0%  - 3%
</td>
<td width="154" valign="top">
0.9%
</td>
<td width="154" valign="top">
-5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Perth
</td>
<td width="154" valign="top">
5% - 7%
</td>
<td width="154" valign="top">
6.4%
</td>
<td width="154" valign="top">
10%+
</td>
</tr>
<tr>
<td width="154" valign="top">
Brisbane
</td>
<td width="154" valign="top">
3%  - 5%
</td>
<td width="154" valign="top">
3.9%
</td>
<td width="154" valign="top">
5% - 10%
</td>
</tr>
<tr>
<td width="154" valign="top">
Adelaide
</td>
<td width="154" valign="top">
0%
</td>
<td width="154" valign="top">
1.3%
</td>
<td width="154" valign="top">
0% - 5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Darwin
</td>
<td width="154" valign="top">
5% - 7%
</td>
<td width="154" valign="top">
5.3%
</td>
<td width="154" valign="top">
10%+
</td>
</tr>
<tr>
<td width="154" valign="top">
Hobart
</td>
<td width="154" valign="top">
0%
</td>
<td width="154" valign="top">
-1.1%
</td>
<td width="154" valign="top">
-5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Canberra
</td>
<td width="154" valign="top">
0 – 3%
</td>
<td width="154" valign="top">
-0.8%
</td>
<td width="154" valign="top">
0%
</td>
</tr>
</tbody></table>
APM bases its relatively positive outlook following interest rates being cut to near record lows last year, with chief economist Andrew Wilson expecting prices to build on the modest gains achieved in 2012.
He tips Perth to be the top performer based on record levels of immigration, housing shortages and soaring rents, as well as its exposure to the relative strength of mining sector.
While Ryder is tipping property price growth in excess of 10% for Perth and Darwin, he believes the best opportunities in 2013 will be in regional markets – to find out where, watch the Property Observer webinar: <a target="_blank" href="/news">Regions versus capital cities - where to invest in 2013?</a>


<hr class="system-pagebreak">
BIS Shrapnel as part of of forecasts prepared for QBE LMI's 2012 - 2015 Housing Outlook report says affordability in Perth and Brisbane improved substantially in 2011-12 with a "rapidly rising dwelling deficiency is developing".
"In Darwin, meanwhile, median house price growth of 10.7% was registered in 2011-12 – driven by substantial levels of investment in mining and resource capacity leading to significant income and migration growth.
"Falls in vacancy rates are also expected to continue across all three cities, placing upward pressure on both rents and dwelling prices, attracting demand from investors in particular," says BIS Shrapnel.
News Limited national economics editor Jessica Irvine warns those looking to dip into the property market in 2013 must be aware of spruikers claiming “the next boom in property prices is about to get underway”.
Irvine says while spruikers may talk up mortgage rates being low and that affordability has improved, a “more sober look at the Australian property market reveals prices have hit a wall, although remain historically expensive”.
This is the partly the <a target="_blank" href="https://www.propertyobserver.com.au/residential/australian-housing-still-least-affordable-in-the-world-despite-recent-improvements-fitch/2013010958698?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">argument made by Fitch</a>, in its forecast of <a target="_blank" href="https://www.propertyobserver.com.au/residential/stable-outlook-for-australian-housing-market-but-no-price-gains-in-2013-fitch/2013010958671?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">no movement</a> in Australian house prices in 2013.
Irvine points at that in the boom years from 2003-04 and 2009-10, property prices grew by 50% to 60% in Melbourne, Brisbane and Adelaide and by a “whopping” 10% in Perth.
But now the property boom is “well and truly at an end”.
“Over the past five years, home prices have clocked average annual growth of just 1.9%. You would have been better with your money in the bank,” she says.
Irvine alludes to the fact that the new generation of home buyers need their parents help to acquire their first property while those already on the property ladder are using lower interest rates to pay down debt.
“And so it's hard to see property prices rising much this year, unless something radically new happened to boost people's capacity to borrow,” she says. 
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lschlesinger-FZcF9M3vE6

Australian analysts tip modest property price gains in 2013 led by Perth, depending on who you ask 

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Demand is growing for more affordable small properties and tiny CBD studio apartments, but obtaining financing can be harder, according to Aussie Home Loans founder John Symond.
“For all the affordability that a small apartment provides, however, there is a catch,” says Symond in his latest Aussie blog.
“There are often strict lending rules around studios that prevent those without sizeable deposits from buying in.
“Buyers will typically require a deposit upwards of 20% to buy an apartment with less than 50 square metres in floor area, and lenders mortgage insurance (LMI) is often more expensive as well,” he says.
In August last year Property Observer provided readers with a <a target="_blank" href="https://www.propertyobserver.com.au/residential/top-10-cheapest-studios-apartments-in-the-melbourne-cbd-starting-frrom-%24145000/2012081255753">top 10 list of studio apartments</a> in the Melbourne CBD starting from a 17-square-metre apartment on Flinders Street, which sold to an investor for $145,000 last year.
Property Observer noted <a href="https://www.propertyobserver.com.au/new-south-wales/sydney-cbd-s-10-cheapest-studio-apartments-starting-from-%24255000/2012073155743" target="_blank">Sydney studio apartments were proving tempting to investors and home buyers  </a>given both buying classes were being affected by rising rents across the city. We listed 10 of the cheapest, starting with a studio on Dixon Street in Chinatown at $255,000, with eight of them now sold.
Also last year, we wrote about <a target="_blank" href="/news">pocket-sized inner Sydney listings</a>, including what is believed to be Sydney’s smallest home, a terraced house measuring just 27 square metres built in a former alleyway on Evans Street in Rozelle.
Symond mentions the tiny Bondi Beach flat dubbed the “bolt-house” measuring just 16 square metres, which <a href="https://www.propertyobserver.com.au/new-south-wales/old-fashioned-studio-fails-to-ride-the-bondi-beach-property-wave/2012091156502" target="_blank">Property Observer wrote about October</a>. The property failed to attract a single bid at auction, coming with $270,000 hopes, eventually selling privately for $245,000.
Symond says small properties and tiny studio apartments have become increasingly popular in the last few years “as home buyers seek affordability in cities with escalating property prices”.
“Typically a studio apartment – defined as ‘any unit that does not have a wall separating the bedroom from the living areas / kitchen’ – will require a floor area no less than 40 square metres and have a maximum loan to value ratio of 60%."
Of the 10 cheapest Melbourne CBD apartments, which we wrote about in August last year, two remain up for sale:
<a target="_blank" href="https://www.realestate.com.au/property-studio-vic-melbourne-105215032">210/600 Little Bourke Street</a>
$148,000
Unit 210 at 600 Little Bourke Street is a serviced apartment currently run by Hotel Ibis, which has the contract until 2018. The 25-square-metre apartment has a modest guaranteed income of $650 a month, and agent Lilian Yoon from OzAsia Real Estate is unsure of the outgoings for the property, although she says they would be minimal. The unit, which has no cooking facilities, has been on the market for years.
<a target="_blank" href="https://www.realestate.com.au/property-studio-vic-melbourne-110840411">417B/268 Flinders Street</a>
$165,000
This studio apartment is in the Home @ Flinders building opposite Flinders Street Station and rents for $310 a week. It’s 15 square metres and has outgoings of more than $4000 a year. It includes a kitchenette and a bathroom, and there’s room to walk.
We’ve also tracked down a few more tiny apartments currently up for sale:
<a href="https://www.realestate.com.au/property-studio-vic-melbourne-112356715">1306/268 Flinders Street</a>
<a href="https://www.realestate.com.au/property-studio-vic-melbourne-112356715"></a>$225,000
This studio apartment - in the same building as the previous apartment (417B)- is being sold by Robert Eggers of Dingle Partners - Melbourne. 
<a href="https://www.realestate.com.au/property-apartment-vic-melbourne-111726639" target="_blank">57/546 Flinders Street</a>
$150,000 – $170,000
This apartment is situated across the river from Crown casino, and close to Southern Cross train station. It is currently leased at $240 per week. It is being sold by Dien Tran of Ray White CBD.
Of the 10 Sydney studio apartments we wrote about in August last year, just two remain available for purchase. These are:
$265,000
<a rel="nofollow" href="https://www.realestate.com.au/property-serviced+apartment-nsw-sydney-106659143" target="_blank">318/8 Dixon Street</a>
It’s a 28 square metre studio on level three of the building. The property currently earns $14,502 per year in rent from Quest Apartments, which is set to increase to $15,082 next year. That works out to about $280 a week. Agent David Tsang from Friendly Properties says outgoings would total around $250 a quarter.
$275,000
<a rel="nofollow" href="https://www.realestate.com.au/property-studio-nsw-sydney-107037659" target="_blank">94/8 Dixon Street</a> <a rel="nofollow" target="_blank" href="https://www.realestate.com.au/property-studio-nsw-sydney-107037659"></a>
In the same building again here, but back down to 25 square metres. It’s a similar deal to the cheapest on the list but it earns slightly less rent at $400 a week. Total quarterly outgoings are $1,296. It’s being sold by Alan Cheung from LJ Hooker Chinatown who says the vendor for apartment 124 is just slightly more motivated.
For information on <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-investing-outside-the-square">out-of-the-box property investments, download our free eBook.</a>
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Demand rising for tiny studio apartments, but mortgage hurdles higher: Aussie John Symond

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Many people reading this column might be relaxing at a beachside getaway, a wine region, a great fishing spot or perhaps in a heritage town.
Over summer many people will be enjoying the state’s delightful holiday spots, particularly along the coast of Western Australia. Places like Dunsborough, Denmark, Dongara, Lancelin, Cervantes, Albany and beyond. Over the years many people have bought holiday homes in these places.
Today, holiday homes are being purchased as far apart as Exmouth and Esperance. It all depends on people’s budget, allowable travel time and their strategy behind the purchase.
The ideal holiday home for most people is one that is always available for short stays, but this is a costly option for people who need to take out a mortgage on a second home. They are not the inexpensive country option they once were, particularly on the coast.
However, these days an increasing number of buyers are choosing to combine the purchase of a holiday home with long-term investment plans. This is possible because many favoured holiday locations have developed viable rental markets with local tenants leasing properties for extended periods, often beyond the summer holiday.
Some of these places might include Albany, Harvey, Busselton, Margaret River, Gin Gin, York  and Cervantes in WA, for example.
Homes initially purchased as investments in these locations can later be used for holiday purposes.
In places where demand for rental accommodation is seasonal, such as fishing towns, windsurfing spots and agricultural areas, there is a greater likelihood of vacancies for rental properties outside the peak holiday or industry period. However, the rentals are normally much higher in properties leased for short periods, and this can partly offset the loss of rental income when the place is vacant.
The benefit of this strategy is that the owner can then take advantage of the seasonal rental market by using the property off season.
Another option for holiday home buyers is to purchase a unit in a resort development. Some resort operators will guarantee a rental income for a fixed period. In many cases the purchaser is acquiring a share of a managed investment scheme, which includes a stake in the total income and expenses incurred by the resort.
Either way, the most important consideration when buying a holiday home is, as far as possible, to set aside the emotional reactions and approach the purchase with a clear understanding of the real value of the property, its ongoing costs and the likely rental income.
If you are travelling around the state this holiday season and maybe thinking of a holiday home investment, why not drop into the nearest REIWA agency office and talk to the staff about opportunities?
David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" target="_blank">Real Estate Institute of Western Australia.</a> This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx">reiwa.com</a>.
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Where to invest in a holiday property in WA

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Are you ready to undertake a renovation, buy or sell in 2013? Are you looking for property inspiration? Here are some books to take with you to the beach or read on your balcony as summer evenings linger. 
<a target="_blank" href="https://www.propertyobserver.com.au/trends/summer-reading-from-property-investment-tips-to-managing-tenants/2012122358620">And don't miss part one of our summer reads list. </a>
<a href="https://au.wiley.com/WileyCDA/WileyTitle/productCd-1118319273" target="_blank"><img src="/images/stories/2013/01/janessbook1.jpg" style="margin: 5px; float: left;" width="100"></a>
Jane Slack-Smith reminds property investors <a target="_blank" href="https://www.propertyobserver.com.au/news/why-you-need-to-do-your-demograpahic-research-before-writing-that-buyer-s-cheque-jane-slack-smith/2012073055771">that they need to do their demographic research </a>before writing that buyer's cheque in her book <a href="https://yourpropertysuccess.com.au/">Your Property Success with Renovation</a> published by John Wiley &amp; Sons.
 
 
 
 
 
<img style="margin: 5px; float: left;" src="/images/stories/2012/12/buildingalways.jpg" alt="buildingalways" height="146" width="100"> 
 
Gerry Karidis <a href="https://www.propertyobserver.com.au/developments/why-developers-are-not-the-devil-in-property-disputes-gerry-karidis/2013011058604?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=developments" target="_blank">defends the property development profession</a> in his book <a href="https://www.wakefieldpress.com.au/product.php?productid=979" target="_blank">Building Always Building: The Life and Times of Gerry Karidis</a>
 
 
 
 
<img src="/images/stories/2013/01/journeysbook.jpg" style="margin: 5px; float: left;"> 
 
 Property investor Swarnie Condon talks <a href="https://www.propertyobserver.com.au/residential/our-first-resort-investment-was-not-all-smooth-sailing/2011062450600" target="_blank">about her first resort investment</a>, which was not all smooth sailing, in the book <a target="_blank" title="Journeys Along the Property Path" href="https://www.ipip.com.au">Journeys Along the Property Path: 12 real life stories of 12 property investors</a>, published by Inspirational People in Property. The book is aligned with Club Cares and is donating $10 from the sale of every book, hoping to sell 8,000 books and donate $80,000. So far $4,610 has been raised.
 
<img style="margin: 5px; float: left;" src="/images/stories/2013/01/lomasbook.jpg">
 
 
Margaret Lomas advises<a target="_blank" href="https://www.propertyobserver.com.au/residential/property-investment-is-not-a-get-rich-quick-scheme-margaret-lomas/2011083051342"> investors look at property as a long game</a>, rather than a get-rich-quick scheme, in her book <a target="_blank" href="https://www.propertybooks.com.au/investing_in_the_right_property_now!_by_margaret_lomas">Investing in the Right Property Now</a>
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From renovation to investment: Summer reading

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Retail sales rose only 0.1% in November, below expectations, but economists and retail property analysts are reasonably confident of a good year for retailers and retail property landlords in 2013.
Shopping centre owners and retail landlords with a high proportion of service-orientated tenants, such as cafes, restaurants and travel, and entertainment operators should be well placed, and there is also expected to be a continued expansion of overseas retailers into Australia.
In addition, the ABS figures suggest the larger chain stores and supermarkets are continuing to perform well, (though department stores are still struggling).
Michael Bate, Colliers International head of retail, is optimistic about 2013, after the sector underwent what he calls “significant structural change” in 2012 following two decades of outperforming the commercial property sector as a whole.
“While retailers will continue to review their store portfolios with a view to improving performance, most domestic retailers have now completed their network rationalisations and we anticipate some will look at expansion at 2013,” he says.
He says the retail sector will be influenced by the impact of interest rate cuts on household disposable income, the level and intensity of price discounting by retailers and the management of operating costs by both property owners and retailers.
While figures from the all-important Christmas retail period are not yet available, Bate says Colliers expects a modest improvement in retail spending in 2013, with “household incomes to be supported by rate cuts, cushioning the impact of slower wages growth and higher taxes”.
“Retail spending remains below long-term averages in Australia, but the volatility experienced over the past six months has now moderated,” he says.
Nora Farren, Colliers International research director and author of the latest Colliers International retail research and forecast report, says that from an investment perspective, retail assets remain appealing.
“High quality, dominant shopping centres are still performing well despite the slowdown in retail turnover growth.
“They continue to be viewed as a defensive investment class. Retail has also been the beneficiary of capital inflows from overseas investors. The high relative yield spread (due to low bond yields) combined with the global appetite for low-risk investments are supporting this demand. Foreign investors have been active in the retail property sector, with several major sales involving offshore institutional investors,” she says.
She says “experience with convenience” will keep consumers coming back to shopping centres.
“Consumers are spending more on experiences such as travel and at cafes and restaurants. As a result, we are seeing increased focus on entertainment, lifestyle and food precincts in shopping centres, as perceptions change as to what attracts consumers to a centre, and keeps them there for longer,” says Farren.
She also expects the influx of overseas retailers to Australia continue “apace next year”.
“This charge is being led by US brands, but retailers from Europe and increasingly Asia are looking to expand into Australia.
“While the entrance of offshore retailers has some domestic retailers shaking in their boots, the arrival and positive view of our market potential should be a comfort to our industry. Positives can be taken from the renewed interest in retail that these new brands generate.”
 
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However, it is likely to be a continued struggle for many smaller retailers, especially those selling discretionary items that can be bought more cheaply online.
Landlords with retail investment in the mining states appear well-placed, with WA annual retail growth to November standing at 8.6% and Queensland at 4.8% per annum, compared with NSW managing just 2.2% annual retail sales growth and Victoria. 1.2%.
At face value, the November ABS figures were a disappointment, with the market tipping a 0.3% rise in November and earlier rate cuts in May and June totalling 75 basis points appearing to have little impact on consumer spending.
With October's flat outcome left unrevised, the annual pace of retail sales growth moderated further to 2.9%.
Westpac economist Elliot Clarke points out that in trend terms, retail sales are now growing at “an insipid 0.05% per month – a 0.6% annualised rate”.
He also points out that all the growth in retail sales in November was solely due to a 1.2% increase in “takeaway activity” with cafe and restaurant activity falling 0.4%.
“Arguably, this is further evidence of consumers economising, favouring eating at home over eating out. Basic food retailing was flat, possibly due to falling fruit and vegetable prices,” says Clarke.
Department store sales fell for a third successive month by 0.4%, clothing &amp; footwear experienced its fifth consecutive decline (–0.6%)  and household goods retailing declined by a further 0.9%.
Clarke concludes that retail sales growth will again be weak in December and in 2013.
However,  CommSec economist Craig James notes that sales by “larger retailers” rose by 0.5% over November and “soared to record highs”, with larger retailers now accounting for a record 64.8% of all retail trade.
<img src="/images/stories/2013/01/absjan10.gif">
The large retailers segment refers to 500 of the biggest retailers in surveyed by the ABS each month, whose results are not weighted due to their size, unlike the 2,750 'smaller' retail businesses that are weighted.
The ABS does not provide details of which businesses are included in this category, but says the results indicate that some of the larger business chains such as supermarkets are doing well, while others (notably department stores) are struggling.
 
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According to James, this could indicate that larger retailers are continuing to take business from small business, but may also indicate the growing tendency to purchase goods online as the major online businesses are in the large retailer sector.
While the mystery remains as to what impact online sales is having on retailing figures, James says there is “good reason to suspect that retail spending is stronger than the top-level data suggests. In fact, much closer to ‘normal”.
“I think 2013 will be a better year for retailers,” James tells Property Observer.
While there will be further pressure on retailer margins, he says he is “reasonably positively” about 2013 provided there are no major overseas disasters.
Factors in favour of a better year for retailing include low unemployment, improved housing affordability and lower interest rates meaning consumers can be a little more confident, says James.
"Consumers will still continue to look for bargains and compare store prices with what is available online."
He says service-orientated retailers (cafes, restaurants, travel and entertainment providers) should continue to do well.
ANZ economists Riki Polygenis and Justin Fabo also note the better performance of larger retailers  "trending higher in contrast to the broadly flat profile for small retailers’ sales over the past 18 months"
They say that recent weakness in retail sales appears "heavily concentrated among smaller retailers, with sales well down from their peak in June".
"These retailers tend to have less flexibility to maintain sales via discounting, marketing and other strategies and a higher share of their sales are likely to be discretionary,says Polygenis and Fabo.
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Better year expected for retail property sector despite 'insipid' November ABS sales result

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Greater financial incentives are being offered to first-home buyers in Victoria following the raising of the stamp duty discount for homes priced under $600,000 from 20% to 30%.
The higher discount kicked in on January 1, 2013, and applies to both existing homes and new homes, delivering first-home buyers additional savings starting from $600 to a maximum of just over $3,000 on a house price at $600,000.
First-home buyers can work out their stamp duty savings using this table provided the <a href="https://www.sro.vic.gov.au/sro/sronav.nsf/LinkView/C88211C9E07486F0CA2578B70001025018E490D796850F8ECA2575C1008187C7" target="_blank">Victorian government’s State Revenue Office.</a>
Maximum stamp duty savings are now over $9,000. Combined with the existing first-home owners' grant of $7,000 there is nearly $16,000 in savings for those first-home buyers who are willing to venture into the property market in 2013.
The stamp duty discount will rise to 40% on January 1, 2014, and to 50% on September 1, 2014.
To qualify for the stamp duty discount, first-home buyers must also qualify for the $7,000 first-home owners’ grant.
All added up it means Victorian first-home buyers purchasing an existing home receive the highest amount of financial support from their state government.
South Australia, NSW and Queensland all offer higher total incentives and savings, but these are restricted to buying or building a new home.
This is what the other states are offering first-home buyers in 2013:
NSW
A first-home buyer who purchases a $550,000 new home will get $35,240 in assistance.
This includes a $15,000 grant for first-home owners who purchase or build a new home valued at up to $650,000. The grant is available until December 31, 2013, reducing to $10,000 from January 1, 2014.
Non-first-home buyers who buy a new home are eligible for $5,000 whether the new home is off the plan or newly built with a value up to $650,000, The $5,000 grant is also available to buyers of vacant land that is intended to be the site of a new home valued up to $450,000.
First-home owners are also eligible for a maximum stamp duty saving of $20,240 for homes up to a value of $550,000, with duty concessions for new homes valued between $550,000 and $650,000. The transfer duty exemption cap on vacant land is $350,000, with duty concessions for vacant land valued between $350,000 and $450,000.
Queensland
A $15,000 first-home owner construction grant (FHOCG) is available. The FHOCG applies to new property bought or built at a value under $750,000.
First-home buyers also pay no duty on purchases up to $500,000, with a phasing-out rebate applicable for values up to $600,000.
For non-first-home buyers, the Queensland government offers a concessional stamp duty rate of 1% up to a value of $350,000, with stamp duty charged at normal rates for the remaining value of the home purchase. The buyer must occupy the home for a period of 12 months – an applicant may lose the concession if he sells or leases part or all of the home before moving in or within a year of moving in.
 
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South Australia
South Australian first-home buyers have the chance to secure $23,500 from the state government, provided they build a new home.
The $23,500 handout comprises a doubled first-home owner grant of $15,000 for contracts entered into on or after October 15 and up to a value of $575,000, plus a further $8,500 housing construction grant (HCG). The housing construction grant replaces the $8,000 first-home bonus grant.
The HCG is available to all builders of new homes for properties valued up to $400,000, phasing out for properties valued up to $450,000 where contracts are entered into between October 15, 2012, and June 30, 2013, inclusive.
Concessions could rise to $39,830 if first-tome buyers buy an apartment off the plan in the Adelaide CBD under $400,000, where a stamp duty concession of $16,330 applies.
This part of a new stamp duty concession scheme available on the transfer of a new CBD apartment or a "substantially refurbished apartment" for a contract entered into from May 31, 2012, to June 30, 2014, capped at stamp duty payable on a $500,000 apartment of $21,330.
An example where a $39,830 saving would be available to a first-home buyer is <a target="_blank" href="https://www.realestate.com.au/project-aria+on+gouger-sa-adelaide-600000551">Aria on Gouger Street </a>being developed by Brock Urban Projects, where two-bedroom apartments are priced from $335,750.
Up until June 30 2014, South Australian first-home buyers of established homes are entitled to a $5,000 grant. From July 1, 2014, no first-home owner grant is available to purchasers of established homes.
 
WA
A $7,000 first-home owner grant remains in place for a newly constructed or established home. It does not apply to vacant land purchased to build a new home. The total value of the home must not exceed $750,000 if the property is located south of the 26th parallel of South Latitude, or $1 million if located north of the 26th parallel of South Latitude. First-home buyers eligible for the $7,000 grant pay no stamp duty on homes valued up to $500,000 and up to $300,000 for vacant land.
ACT
A $7,000 first-home owner grant remains in place for both existing and new homes where the price of the property or construction of the home does not exceed $750,000.
Tasmania
A $7,000 first-home owner grant remains in place for both existing and new homes, with no cap on the value.
Tasmanian first-home buyers buying or  building a new home (including off-the-plan) are eligible for an additional $8,000 under the First Home Builder Boost Scheme, which applies from January 1 2013 to June 30 2014 if the qualify for the first-home owner grant.
Northern Territory
A $7,000 first-home owner grant remains in place for both existing and new homes where the price of the property or construction of the home does not exceed $750,000.
The NT government also offers first-home owners stamp duty concession of up to $26,730 (the duty owed on the first $540,000 value of a property).
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