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;

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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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.

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.”

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 style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Proven at scale:&nbsp;Decennial cover has operated in NSW since 2022, protecting thousand of apartments.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">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 style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">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 style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">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 style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">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 style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">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 style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">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 style="color:#222222; font-family:Arial, Helvetica, sans-serif; font-size:small; font-style:normal; font-variant-ligatures:normal; font-weight:400; text-align:start; white-space:normal; background-color:#ffffff; text-decoration-thickness:initial; text-decoration-style:initial; text-decoration-color:initial">
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Resilience Latent Defects Insurance (LDI):&nbsp;Covers major structural defects for 10 years from completion.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Consumer-first:&nbsp;Direct claim access, no need for lengthy legal action.</li>
	<li style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">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 style="margin-left:15px; font-family:Aptos, Arial, Helvetica, sans-serif; font-size:12pt; color:#000000">Market leader:&nbsp;&nbsp;Resilience Insurance originated LDI in Australia and is the national market leader.</li>
</ul>

Joel Robinson

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

Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

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

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

<html><body>
<img src="/images/stories/2012/08/30842.gif">
The number of properties available for rent in Victoria for the week ended August 5, according to RP Data. Of these, 13,857 were listed in the last month. There were 24,462 listings during the same week last year.
 
<hr>
 
<img src="/images/stories/2012/08/24734.gif">
The number of properties available for rent in New South Wales for the week ended August 5, according to RP Data. Of these, 12,727 were listed in the last month. There were 21,948 listings during the same week last year.
 
<hr>
 
<img src="/images/stories/2012/08/21787.gif">
The number of properties available for rent in Queensland for the week ended August 5, according to RP Data. Of these, 11,032 were listed in the last month. There were 24,575 listings during the same week last year.
<hr>
 
 
<img src="/images/stories/2012/08/7144.gif">
The number of properties available for rent in Western Australia for the week ended August 5, according to RP Data. Of these, 3,870 were listed in the last month. There were 8,204 listings during the same week last year.
 
<hr>
<img src="/images/stories/2012/08/7057.gif">
 
The number of properties available for rent in South Australia for the week ended August 5, according to RP Data. Of these, 3,403 were listed in the last month. There were 5,732 listings during the same week last year.
 
<hr>
<img src="/images/stories/2012/08/2297.gif">
The number of properties available for rent in Tasmania for the week ended August 5, according to RP Data. Of these, 999 were listed in the last month. There were 1,591 listings during the same week last year.
 
<hr>
 
<img src="/images/stories/2012/08/896.gif">
The number of properties available for rent in ACT for the week ended August 5, according to RP Data. Of these, 439 were listed in the last month. There were 462 listings during the same week last year.
 
<hr>
 
<img src="/images/stories/2012/08/790.gif">
The number of properties available for rent in Northern Territory for the week ended August 5, according to RP Data. Of these, 499 were listed in the last month. There were 915 listings during the same week last year.
</body></html>

cknowlton-QnEa6ntUYP

Victoria's 30,842 homes for rent lead the nation: A state-by-state analysis: RP Data

<html><body>
The partial sale and lease back of David Jones’ flagship stores or developing the sites to include residential or commercial property would not add value for shareholders, according to UBS.
Investors and analysts have been analysising the options for David Jones’ three Melbourne and Sydney flagship stores given the recent takeover speculation.
David Jones has been mooted as a potential leveraged buyout candidate, with much of the value around its property portfolio.
The three flagship stores have a $462.5 million book value, but UBS says they could secure $666 million on-market.
UBS considered three options for the properties: develop the sites to add storeys above for residential use; a partial sale; and a partial lease.
The broker concluded that adding storeys above the Sydney store would only add $47 million value, or a mere 9¢ a share, the Australian Financial Review reported.
UBS said combining the two Sydney sites into the one store was unlikely to work, but could add up to 4.1% to David Jones’ earnings per share if it did.
The third option, to explore leasing unproductive space in the higher levels, was “unlikely to be economical given”, the broker said, due to required capital expenditure, low rental rates and potential for new tenants to cannibalise David Jones' retail operations.
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jchancellor-FAypfDUnLy

David Jones flagship stores have $666 million potential 

<html><body>
In spring we begin to see uplift in listings activity with more properties available for sale and subsequently an increase in auction activity. Spring also brings an improvement in the number of property sales, especially following winter, which is usually a slow period for the housing market.
Spring 2011 delivered a somewhat disappointing selling season, with sales volumes across the combined capital cities down by 3%; lower than they were in the spring of 2010 and with no noticeable improvement from volumes in autumn. The amount of stock available for sale during this period was continually increasing throughout the period to historic high levels, and home values were falling across each capital city market.
Although economic conditions are now not as strong as they were before the financial crisis, generally most indicators are stronger than compared with this time last year.
It is also important to analyse just how the economy is tracking compared with a longer-term average (10 years) so as to achieve a better understanding of the overall state of the economy compared with what may be considered “normal” based on the decade average.
While autumn represents the period when most property sales are made, spring is traditionally the season when more properties come on the market.
Overall, we’ve seen some positive movements for home values, with new stock being added to the market lower and each of the vendor metrics (selling time, vendor discounting and auction clearance rates) all showing an improvement.
Recent economic data also supports a period of stronger conditions with higher levels of consumer sentiment as well as an increase in housing finance commitments, lower standard-variable mortgage rates, and a greater rate of population growth and an improvement in retail trade.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/rpaug9.gif"><img src="/images/stories/2012/08/rpaug9thumb.gif"></a>
Further, given the poor performance of the housing market over the past year, any positive changes are generally moving from a very low base, albeit in the right direction.
Despite a more positive trend for many indicators compared with those of 2011, a comparison with the longer-term trend highlights that many of these indicators are moving off a low base. Additionally, significant challenges remain in the market including:
• The high stock levels;
• Transaction volumes which are below average;
• Lower growth in private sector housing credit;
• Lower levels of consumer sentiment;
• Lower numbers of owner occupier commitments for new loans;
• First-home buyer activity, which is well below average, and lower levels of full-time job creation.
These factors are likely to impact on the overall housing market performance coming in to this spring.
On the other hand, a number of measures are more positive than the 10-year average, and these are likely to be a positive for the housing market. These measures range from a lower number of new property listings entering the market and other measures such as inflation, which is well below average levels, below average standard variable mortgage rates, higher levels of annual population growth and a greater annual increase in retail trade.
Overall, the data indicates that generally the housing market is now in a stronger position than it was 12 months ago. Considering this, the spring selling season should be stronger this year than it was last year however, in comparison to recent years we would not expect the housing market to power along through spring in the manner that it has previously.
Cameron Kusher is senior research analyst at <a href="https://www,myrp.com.au" target="_blank">RP Data</a>.
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ckusher-ujnxiKuFQs

Spring selling season likely to be stronger this year than last, but don't expect it to power along: Cameron Kusher

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Owners of prime office space in the Sydney CBD should be in a better bargaining position from 2013, according to the latest global real estate report from Jones Lang LaSalle (JLL).
The prime Sydney CBD office market is forecast to transform from one favouring tenants in 2012 to a balanced market in 2013 and 2014, with both capital values and rents expected to rise by as much as 5% over the course of 2012.
This places Sydney in the middle range of performance forecasts for major CBD office markets – alongside London, Paris, Los Angeles, Mumbai and Frankfurt.
In the Asia-Pacific region, Beijing is set to be the strongest-performing prime office market over 2012, with a forecast 20%-plus rise in rental values and ma rise of between 10% and 20% capital growth.
Hong Kong and Singapore rental values are forecast to fall by as much as 20% over 2012.
In its Global Market Perspective Third Quarter 2012, JLL places Sydney in an upward cycle with both rents and capital values rising.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2012/08/jllaug15.gif"><img src="/images/stories/2012/08/jllaug15thumb.gif"></a>
The report makes passing reference to Perth, noting that the “commodities sectors continue to support robust rental growth in markets" such as San Francisco and the WA state capital.
Perth is also a market “showing healthy levels of corporate activity”, according to Jones Lang LaSalle.
The report says that economic uncertainty continues to affect investor sentiment across the globe, with deals taking longer to close.
It says the market remaining polarised with investors steering clear of risky assets, focusing instead on prime product in core markets like London, Paris and New York.
According to JLL, Sydney has performed modestly in relation to other prime capital city office markets, recording capital growth of 1.5% over the second quarter of 2012, matching the growth of regional competitors Tokyo and Shanghai, but well behind the top-performing CBD markets of Jakarta and Beijing, where capital values grew by between 9% and 11% over the quarter.
However, Sydney strongly outperformed CBD markets in Europe, which managed capital value growth of just 0.4% over the quarter, following the decline of 0.3% in the first quarter of the year.
Sydney is offering a prime yield of 6.9% and has a relatively high vacancy rate of 8.7%.
Comparative regional markets such as Singapore has a prime yield of 3.6% and a vacancy rate of 10.2%; Tokyo has a prime yield of 3.6% and a vacancy rate of 3.5% while Hong Kong has a prime yield of 3.1% and a vacancy rate of 3.4%.
The report notes that in contrast to many offshore markets, prime yields in Australia have not followed bond yields downwards.
“As a result the yield spread to bond rates is at record levels in most markets, providing a high measure of valuation support should bond yields revert to long term levels,” says Simon Storry, head of office investments Australia for JLL.
“With a global hunt for yield, Australian real estate assets are sharply differentiated on a valuation basis.  In addition, spreads between prime and secondary yields are generally wide, providing an incentive to owners and investors to refurbish and reposition assets,” he says.
Storry says that during the second quarter of 2012 a renewed cycle of financial market volatility saw leasing activity slow in Australia.
“Rents in many office, retail and industrial markets flatlined.
“In the Sydney CBD market, contraction by some financial market tenants was offset by migration into the CBD.
“Across office markets, as in the retail and industrial sectors, a slowdown in demand for space is largely offset by a limited construction pipeline. As a result, vacancy rates remain low and downside risk to rents is limited. In the longer term, continued growth will stimulate another construction cycle.”
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lschlesinger-FZcF9M3vE6

Sydney CBD office landlords to hold more power from 2013: Jones Lang LaSalle

<html><body>
In the past 12 months our property sector has been defined by the two-speed nature of the Australian economy, and this will continue to present challenges in the year ahead. 
The gap between the mining states of Queensland and Western Australia and the rest is not likely to shrink any time soon. Notwithstanding the disparity between the regions, the growth from the mining and resources sector will continue to stimulate the broader Australian economy, as evidenced by our national unemployment rate of 5.1%. 
Similarly, global economic conditions will continue to fluctuate. A spin-off from this international instability, however, is that Australia’s economic performance is comparatively strong, which should drive continued investment in our property market from overseas. 
Offshore investors have committed about $3.7 billion in Australian property markets in just the past six months, and local investors are also becoming more active, with pension funds looking to increase their allocations to commercial property. 
Investors will remain cautious, with forecasts suggesting the weight of capital chasing quality assets will lead to a further tightening of premium and A-grade yields by as much as 25 basis points in the next six months. The secondary-grade market is expected to continue to experience a softening of yields in the months ahead, as investors’ appetite for risk remains soft and owners place more assets on the market as funding pressures increase. 
Despite this, opportunistic buyers will continue to target underperforming assets in order to reposition and take advantage of the potential future upside. 
Foreign investment from sovereign wealth funds, pension funds and REITS, particularly from Asia, is forecast to remain high as investors chase secure yields of between 6.5% and 7.5% in Sydney, compared with 4% to 6% returns in Hong Kong, Singapore, London or New York. 
For the first half of the new financial year, we expect an increasing battle for core and core plus assets across all asset classes. 
Office markets across the board are performing relatively well, however the current weakness in the finance and insurance sector will continue to impact upon the performance of Sydney’s office leasing markets. As a result, below average absorption levels are expected to continue into the first half of 2013. 
A shot in the arm for the Sydney market is the recent pre-commitment of more than 120,000 square metres of space at the anticipated $6 billion Barangaroo redevelopment to anchor tenants Westpac, KPMG and Lend Lease, with Colliers International integral in these negotiations. This announcement will stimulate activity throughout the Sydney CBD and do wonders for the market. 
In the wider retail sphere, the going is tough. While household spending has been rising, expenditure in the traditional retail sector has been lagging other areas of consumption. 
With continued short-term pressure on the sustainability of occupancy costs, property owners will be focusing on tenancy mix and maintaining occupancy levels in their shopping centres, with growth in specialty rents limited. The stability of retail property, however, remains an attractive proposition for many investors as they look beyond the current challenges being experienced in the broader retail sector. 
The other well-documented concern for the retail sector is the rise of online shopping and, while this presents an ongoing challenge for the sector overall, it also has repercussions for other property sectors, particularly industrial. 
Global growth in container imports has driven logistics activities to the forefront of industrial real estate over the past decade and this will continue in the year ahead. 
In the next 12 months the Australian industrial market is likely to go through a phase of steady improvement, with signs of continuing strong leasing and investor demand for quality industrial space. A lack of available land and built products will continue to impact upon key industrial markets. 
Lending requirements for developers seeking to construct new residential projects will remain constrained, as they have since the global financial crisis, resulting in waning new supply levels declining since 2009. These factors have translated into tight vacancy rates, rising weekly rents for investment stock and stable median prices within Australia’s residential property market. 
However, the Australian residential market continues to perform strongly when compared to major global markets, and we believe persistent demand for residential dwellings will continue unabated due to positive net overseas migration levels and natural increase coupled with declining supply levels.
John Marasco is managing director of investment services at <a target="_blank" href="https://www.colliers.com.au/">Colliers International</a>
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jmarasco-X5TFWvtLxp

Australia's property markets to continue to attract overseas and local interest in 2012-13

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Tregear, in Sydney’s outer west, is the city’s suburb with the highest gross yield for houses at 7.1%.
Property Observer has listed the top 15 suburbs with the highest rental yields for houses in Sydney.
The list is dominated by western suburbs, and most have median prices in the $200,000s.
<a href="/news">Middleton Grange</a> had the highest median price at $407,400, with a rental yield of 6.3%.
With the highest yield, Tregear also had the lowest median price at $220,000.
<a href="/news">Blackett </a>had the second highest yields, followed by <a href="/news">Willmot </a>and <a href="/news">Lethbridge Park</a>.
According to the 2011 census, <a href="/news">Tregear </a>had a population of 3,916 and had 1,341 residences.
Managing director of Ben Price Estate Agents Ben Price says the area is made up of former housing commission properties.
“There were originally 12,000 Department of Housing homes in the area, clumped in one spot. Now more that 50% of those have been sold off. Existing tenants were offered the homes to buy and some have been sold on the private market,” Price says.
“That happened over the last couple of decades.”
RP Data lists the median price for the suburb at $220,000, but Price says that figure is probably a bit low.
“There’s not really much for $220,000. You might find something that needs a bit of work. Then you might have to spend $20,000 to get it up to a rentable condition. For that you’d get in the low $300s per week.”
Price recently sold a property on Aurora Drive to an investor for $285,000. The four-bedroom cladded home is leased at $350 a week.
He says it’s an attractive area for investors, with 50/50 divide between investors and home buyers.
“There’s not much development here. We run a vacancy rate of less than 1%. I think the returns will be there for a long time to come.”
<table width="299" cellspacing="0" cellpadding="0" border="0" align="left"><tbody>
<tr>
<td width="121" valign="bottom" nowrap>
Suburb
</td>
<td width="111" valign="bottom" nowrap>
Median Price ($)
</td>
<td width="67" valign="bottom" nowrap>
Yield (%)
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Tregear
</td>
<td width="111" valign="bottom" nowrap>
220,000
</td>
<td width="67" valign="bottom" nowrap>
7.1
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Blackett
</td>
<td width="111" valign="bottom" nowrap>
229,000
</td>
<td width="67" valign="bottom" nowrap>
7
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Willmot
</td>
<td width="111" valign="bottom" nowrap>
225,000
</td>
<td width="67" valign="bottom" nowrap>
6.9
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Lethbridge Park
</td>
<td width="111" valign="bottom" nowrap>
227,000
</td>
<td width="67" valign="bottom" nowrap>
6.9
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Whalan
</td>
<td width="111" valign="bottom" nowrap>
245,750
</td>
<td width="67" valign="bottom" nowrap>
6.8
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Emerton
</td>
<td width="111" valign="bottom" nowrap>
250,000
</td>
<td width="67" valign="bottom" nowrap>
6.7
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Shalvey
</td>
<td width="111" valign="bottom" nowrap>
260,000
</td>
<td width="67" valign="bottom" nowrap>
6.4
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Bidwill
</td>
<td width="111" valign="bottom" nowrap>
265,000
</td>
<td width="67" valign="bottom" nowrap>
6.3
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Middleton Grange
</td>
<td width="111" valign="bottom" nowrap>
407,400
</td>
<td width="67" valign="bottom" nowrap>
6.3
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Hebersham
</td>
<td width="111" valign="bottom" nowrap>
279,000
</td>
<td width="67" valign="bottom" nowrap>
6.2
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Dharruk
</td>
<td width="111" valign="bottom" nowrap>
285,000
</td>
<td width="67" valign="bottom" nowrap>
6.2
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Miller
</td>
<td width="111" valign="bottom" nowrap>
312,500
</td>
<td width="67" valign="bottom" nowrap>
6.2
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Spring Farm
</td>
<td width="111" valign="bottom" nowrap>
375,000
</td>
<td width="67" valign="bottom" nowrap>
6.2
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
North St Marys
</td>
<td width="111" valign="bottom" nowrap>
282,500
</td>
<td width="67" valign="bottom" nowrap>
6.1
</td>
</tr>
<tr>
<td width="121" valign="bottom" nowrap>
Cartwright
</td>
<td width="111" valign="bottom" nowrap>
305,000
</td>
<td width="67" valign="bottom" nowrap>
5.9
</td>
</tr>
</tbody></table>
</body></html>

awalsh-7Ub9EypybQ

Outer-western suburb of Tregear leads Sydney suburbs for house rental yields

<html><body>
The number of properties on the market in Western Australia has fallen over the June quarter, with could put price pressure on property there, according to the Real Estate Institute of Western Australia.
Sales numbers have increased, but new stock is not coming onto the market quickly.
“The volatility has gone, buyers are more confident and prices are stable. But if we don’t see the sold stock being replaced with new listings it may put price pressure on the limited stock that remains or increase demands on the building industry,” says REIWA’s David Airey.
Turnover for the months of April, May and June is up by 25% from the same period in 2011, with a projected 11,700 sales taking place in the quarter. In the March quarter it was at 11,600. The number of properties on the market dropped to 12,150 at the end of June and currently sits at around 11,000.
“This is well below the 14,300 properties we had on the market in March and sits below the equilibrium of around 12,000 listings, suggesting the market is swinging back to favour sellers,” Airey says.
The south-eastern Perth suburb of Canning Vale near Jandakot airport had the most sales for the quarter at 512. The median price increased 0.1% over the quarter to an annual median of $530,000.
He says the metropolitan Perth median house price is holding steady at $475,000. The figure is unchanged over the quarter and down 1% over the year. The median Perth unit price is at $324,500 down 3.1% from the March quarter and down 7.9% over the year.
House and unit sales in Perth are up around 5% for the quarter but Airey says this has been moderated by softer regional activity during this period, with house sales down an estimated 12% and the small multiresidential market down by 15%.
“In annual terms, house sales in Perth are up by 15% in 2011-12 when compared to 2010-11, but still remain some 15% below the 15 year average. Similarly, multi-residential sales are up 5% for the year but still 30% below the long term average due to weak investor activity.”
The number of sellers dropping their asking prices to get a sale has fallen by 13 percentage points on June last year, with 61% of sellers prepared to discount. The average reduction is 6.3%.
The time on market has also dropped by almost a week to an average of 73 days on market.
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="168" valign="top">
 
</td>
<td width="85" valign="top">
JUNE   Qtr 2012 (p)
</td>
<td width="85" valign="top">
MARCH Qtr 
2012
</td>
<td width="94" valign="top">
% Change
3 months
</td>
<td width="85" valign="top">
% Change
12 months
</td>
</tr>
<tr>
<td width="168" valign="top">
Perth Median House Price
</td>
<td width="85" valign="top">
$475,000
</td>
<td width="85" valign="top">
$475,000
</td>
<td width="94" valign="top">
n.c.
</td>
<td width="85" valign="top">
-1.0%
</td>
</tr>
<tr>
<td width="168" valign="top">
Regional WA Median House Price
</td>
<td width="85" valign="top">
$360,000
</td>
<td width="85" valign="top">
$375,000
</td>
<td width="94" valign="top">
-4.0%.
</td>
<td width="85" valign="top">
-4.0%
</td>
</tr>
<tr>
<td width="168" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="94" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
</tr>
<tr>
<td width="168" valign="top">
Perth Median Unit Price
</td>
<td width="85" valign="top">
$402,500
</td>
<td width="85" valign="top">
$407,250
</td>
<td width="94" valign="top">
-1.2%
</td>
<td width="85" valign="top">
-1.6%
</td>
</tr>
<tr>
<td width="168" valign="top">
Regional WA Median Unit Price
</td>
<td width="85" valign="top">
$324,500
</td>
<td width="85" valign="top">
$335,000
</td>
<td width="94" valign="top">
-3.1%
</td>
<td width="85" valign="top">
-7.9%
</td>
</tr>
<tr>
<td width="168" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="94" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
</tr>
<tr>
<td width="168" valign="top">
Perth Median Land Price ***
</td>
<td width="85" valign="top">
$250,000
</td>
<td width="85" valign="top">
$245,000
</td>
<td width="94" valign="top">
+2.0%
</td>
<td width="85" valign="top">
+6.4%
</td>
</tr>
<tr>
<td width="168" valign="top">
Regional WA Median Land Price
</td>
<td width="85" valign="top">
$168,000
</td>
<td width="85" valign="top">
$165,000
</td>
<td width="94" valign="top">
+1.8%
</td>
<td width="85" valign="top">
-4.0%
</td>
</tr>
<tr>
<td width="168" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="94" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
</tr>
<tr>
<td width="168" valign="top">
Total Dwelling Sales - WA
</td>
<td width="85" valign="top">
11,700
</td>
<td width="85" valign="top">
11,600
</td>
<td width="94" valign="top">
+1%
</td>
<td width="85" valign="top">
+25%
</td>
</tr>
<tr>
<td width="168" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="94" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
</tr>
<tr>
<td width="168" valign="top">
Stock of Listings - Perth
</td>
<td width="85" valign="top">
12,150
</td>
<td width="85" valign="top">
14,300
</td>
<td width="94" valign="top">
-15%
</td>
<td width="85" valign="top">
-30%
</td>
</tr>
<tr>
<td width="168" valign="top">
Average Selling Days – Perth
</td>
<td width="85" valign="top">
73 days
</td>
<td width="85" valign="top">
79 days
</td>
<td width="94" valign="top">
-6 days
</td>
<td width="85" valign="top">
-6 days
</td>
</tr>
<tr>
<td width="168" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="94" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
</tr>
<tr>
<td width="168" valign="top">
Perth Seller Sentiment 
</td>
<td width="85" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="94" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
</tr>
<tr>
<td width="168" valign="top">
Vendors Reducing Price
</td>
<td width="85" valign="top">
61%
</td>
<td width="85" valign="top">
65%
</td>
<td width="94" valign="top">
-4% pts
</td>
<td width="85" valign="top">
-13%pts
</td>
</tr>
<tr>
<td width="168" valign="top">
Listing &amp; Selling Price Variance
</td>
<td width="85" valign="top">
-6.3%
</td>
<td width="85" valign="top">
-6.4%
</td>
<td width="94" valign="top">
-0.1% pts
</td>
<td width="85" valign="top">
-1.2% pts
</td>
</tr>
<tr>
<td width="168" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
<td width="94" valign="top">
 
</td>
<td width="85" valign="top">
 
</td>
</tr>
<tr>
<td width="168" valign="top">
Perth Rental Vacancy Rate
</td>
<td width="85" valign="top">
1.9%
</td>
<td width="85" valign="top">
1.8%
</td>
<td width="94" valign="top">
+0.1% pts
</td>
<td width="85" valign="top">
-1.5% pts
</td>
</tr>
<tr>
<td width="168" valign="top">
Median Weekly Rent
</td>
<td width="85" valign="top">
$430
</td>
<td width="85" valign="top">
$420
</td>
<td width="94" valign="top">
2.4%
</td>
<td width="85" valign="top">
+13.2%.
</td>
</tr>
</tbody></table>
 
In the Perth rental market the vacancy rate is below average at 1.9%. The median rent has grown by a $10 to $430 per week, an increase of just over 13% from 12 months ago.
The median rent is $440 per week for houses and $410 per week for units and apartments.
Median land prices are up $5,000 for the quarter to $250,000.
“Our preliminary data is showing a 25% lift in land sales, suggesting that prospective home builders are getting ready for their new home,” Airey says.
“Suburbs such as Baldivis, Butler and Byford on the outer edges of the metropolitan area saw the greatest number of land sales in the year to June quarter.”
</body></html>

Falling residential stock on market could push up dwelling prices in Western Australia: REIWA

<html><body>
Should I launch my own department store?
<div>
Are department stores dying? I’m thinking of setting up one – on a more boutique, and smaller, scale than Myer or DJs, of course.
Department stores – a retail institution that dates at least as far back as the mid-1800s – have been trying to reinvent themselves for years, with mixed results.
They followed shoppers from the city to suburban shopping centres – upsizing and downsizing as they went.
They are facing considerable disadvantages. There is a fine line between offering a broad assortment of products and being cluttered.
I don't think department stores serve as a good showroom. There's so much stuff in there and not enough editing to make shopping simple.
Not only do department stores sell a lot of merchandise, but they often sell the same kinds of merchandise – which makes it hard to stand out.
For the past 20 years the department store has been shrinking as a percentage of retail sales. Maybe Asia holds the answer.
Many department stores in Asia are organised by brand, and include "mini-stores" within a larger space. In China, Korea and Japan, department stores lease out space to brands in the store and act more like landlords. The brands put the labour on the floor.
In the days before the internet, department stores used to be the primary discovery place for consumers on the hunt for a new appliance or a new wardrobe.
Today mobile is everything. The killer app is mobile. People used to go to stores for information and research. Today all the information is already in their hands.
I personally believe that the shopping centre is the new department store with the individual stores acting as departments.
There is a place for department stores but reinvention is a necessity: Utilising all the channels favoured by customers without forgetting the oh-so-wished-for well-trained staff – and enough of them!
Debra Templar is one of Australia’s leading retail enthusiasts, keynote speakers and business coaches. She is a regular contributor to StartUp Smart Daily and Greenworld.
This article originally appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartupSmart</a>.
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Should you launch a department store in this retail climate?

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British fashion giant Topshop is set for a new store at Highpoint Shopping Centre in early 2013. 
The Highpoint location is the second Melbourne store for the iconic British brand, with its other Melbourne outlet on the <a href="https://www.propertyobserver.com.au/victoria/jam-factory-set-for-%2416-million-makeover-as-topshop-moves-in/2011081851210" target="_blank">Chapel Street strip in South Yarra. </a>
GPT Group announced the leasing deal in its half-year results presentation yesterday. 
“Topshop’s ability to deliver new, designer-inspired look to shelves within weeks of making their catwalk debut is something that will certainly strike a chord with our customers,” Matthew Faddy, head of asset management at GPT, says. 
The Topshop/Topman co-location store in South Yarra opened in December last year, and the brand’s first Sydney store<a href="https://www.propertyobserver.com.au/news/fashion-retailer-topshop-topman-to-open-in-sydneys-historic-gowings-building/2012062655281" target="_blank"> is set to open in October in the iconic Gowings building in the CBD</a> after a $1.85 million fit-out. 
Topshop is wholly owned by Phillip Green from the Arcadia Group and first existed in the basement of a Peter Robinson department store in 1964. 
The first stand-alone Topshop opened in 1974, and the brand has now expanded to a whopping 750-plus stores across 32 countries. 
The flagship store located in Oxford Circus, London, attracts more than 200,000 shoppers a week. 
Topman was created as a spin-off to cater for male customers and is run as a separate chain, although some stores are co-located, including South Yarra’s Topshop/Topman. 
It is an exciting time for Melbourne and Sydney residents, who previously had to purchase collections and outfits online. 
The online store topshop.com began in 2000 updating the clothes straight off American and British catwalks that have not yet landed in Australian stores. 
Topshop is not the only offshore brand to make its mark in Australia, with international brand ZARA recently opening its second Melbourne store on Bourke Street (the brand had an outlet in Chadstone), along with its Pitt Street mall, Sydney, outlet. 
Fashion giants H&amp;M and Forever 21 are also rumoured to be scouting locations Down Under.
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Topshop set for second Melbourne store as fast fashion retailers expand Down Under

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There has been much debate recently about the health of the retail sector.
Needing to constantly have everything "on sale" has certainly shrunk everyone's margins. But overall, sales volumes have languished.
Yet, maybe there is some light at the end of the tunnel. The ABS just reported that retail sales increased by 1% during June, following a 0.8% rise in May.
And department store sales jumped by 3.4% during June — the largest increase in more than a year.
However, as you can see from the graph, the most recent surges in retail activity have also followed directly after generous government handouts.
<img src="/images/stories/2012/08/langaug141.jpg">
Source: <a target="_blank" href="https://www.afr.com/">Australian Financial Review</a>
The golden era
Clearly, retail's golden era is somewhere in the past. In fact, the BIS Shrapnel recently forecast retail sales growth of 2.9% per annum over the next five years. And you only need to compare that with around 5% per annum before the GFC.
Add this to the strong incursion being made by online retailing, and you start to realise the retail sector (as a whole) is looking somewhat fragile.
In fact, Moody's rating agency has recently indicated that the credit standing on major Australian shopping centre owners is a risk.
Moody's considers that low vacancy rates and fixed rental increases above the CPI are simply not sustainable given the sudden growth in online retailing.
Online influence
However, it's not just purchasing over the internet that is causing retailers a problem.
Have you noticed how customers conduct instant in-store price checks using their iPhones or iPads? Retailers are now often being forced to further shave already thin margins on the spot to make a sale.
That simply means retailers need to respond more vigourously to this online threat.
Some recent research by Deloitte confirms retailers must change — and quickly — to deliver a seamless online service for their customers.
Bottom line: Historically, retail landlords have been prepared to accept income yields as low as 4% to 5% because they were accompanied by 8% to 9% per annum capital growth. But this is no longer the case.
Leases with fixed rental increases have been growing faster than the CPI, which only creates illusory growth — because those rentals will simply fall back at the next market review.
Therefore, most commercial property owners are now viewing their retail investments as an "income play". And yields have been firming accordingly.
Chris Lang is an advisor to commercial property investors and gives keynote speeches and regular seminars on the best way to invest in commercial property. He maintains a blog, <a href="https://bitly.com/IFf40C">his-best.biz</a>, which he updates regularly about the best way to get the most out of your commercial property investment.
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