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“Minister Chanthivong and his team have shown real leadership in replacing an outdated two-year bond with cover that matches the lifespan of the buildings people are buying into.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

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Sydney's prime office capital values market has moved from about seven o'clock to about eight o'clock on the property clock between the first and second quarters of 2012, according to Jones Lang LaSalle.
The real estate services firm puts Sydney's prime office capital values market in the "capital value growth accelerating" quadrant of its property clock, alongside the prime office capital values markets of Los Angeles, Frankfurt and Atlanta. 
Click to enlarge
<a href="/images/stories/2012/08/jllaug131.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/jllaug131thumb.gif"></a>
Sydney's prime office rental market also progressed from about seven to about eight o'clock on the property clock, according to Jones Lang LaSalle.
Click to enlarge
<a href="/images/stories/2012/08/jllaug132.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2012/08/jllaug132thumb.gif"></a>
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cknowlton-QnEa6ntUYP

Sydney prime office values and rents rising as it moves forward on the property clock: Jones Lang LaSalle

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Pacific Brands has sold its Bonds factory in Wentworthville for $27 million. The factory has been in operation since 1923. The historically important site in Dunmore Street contains working examples of 1920s factory construction, mainly the cutting room.
<img src="/images/stories/2012/08/pacificbrands4.jpg">
It will generate a one-off sale profit in 2013-14 of about $11 million for the company.
<img src="/images/stories/2012/08/pacificbrands1.jpg">
The sale completes a transformation program to manufacture offshore started in 2009 when it was announced the factory would close. Some 223 people would lose their jobs after Pacific Brands, the company that makes the brand of Bonds and Berlei, announced it would axe 1,850 jobs across the group.
<img src="/images/stories/2012/08/pacificbrands2.jpg">
The property is on the <a target="_blank" href="https://www.holroyd.nsw.gov.au/building__and__development/heritage/heritage_items/heritage_items/190-220_dunmore_street,_wentworthville">Holroyd City Council heritage list</a>.
<img src="/images/stories/2012/08/pacificbrands3.jpg">
The suburbs last big sale was when Metroland Australia sold Wentworthville Mall to a local investor for $18.3 million. The mall spans a lettable area of 5,403 square metres and had annual net income of $1.73 million. 
Photographs courtesy of <a href="https://www.holroyd.nsw.gov.au/building__and__development/heritage/heritage_items/heritage_items/190-220_dunmore_street,_wentworthville" target="_blank">Holroyd City Council</a>
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jchancellor-FAypfDUnLy

Pacific Brands sells its Bonds factory in Wentworthville 

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We might like to think that life is certain, but it is not. Neither is the market. History shows us that the market is on the precipice of uncertainty pretty much all the time. That’s because the market is actually a composite of people’s opinions. And opinions can change on a five-cent piece.
Buyers and sellers act out of need, out of want and out of instinct. Their many actions culminate in exchanges of ownership. These exchanges are what society focuses on and records in an attempt to give a sense of certainty to the market.
The opinion-recording mechanism that society uses to try to create an element of certainty is price. Price is a very imperfect unit of measurement when it comes to describing the emotional certainty of a transaction. But it’s the most practical and the only uniformly acceptable measurement we have.
In Melbourne in 2012 there is currently a malaise of uncertainty on price that is besetting many an inexperienced buyer and seller out there. This uncertainty is creating a wide range of emotions for many buyers, even if they don’t realise it.
How do you as a buyer live, deal and feel comfortable with your emotions in a world that is currently headlining uncertainty over certainty right now? How do you as a buyer function within the Melbourne property market without going a little crazy when you use price as a measurement to give you certainty?
To get some comfort when you are uncertain there are two magic pills. They are very different, and either can work for surviving this current market.
One magic pill is ignorance. The other is being properly informed.
Ignorance can work well when buying homes in a booming market like that of the early 2000s. But in the current uncertain market, using ignorance is a bit of a crapshoot. While sometimes it can work, we’ve also seen it hurt a lot more people than it has helped – particularly in the outer areas, in overpriced apartments and in poorly located, poorly laid-out or over-priced inner-Melbourne family homes.
The other magic pill for managing your emotions in the property market is information. Being properly informed can allow you to traverse the current market of uncertainty in a manner involving less pain, both now and in the future.
So back to price, which is where all the pain is right now – how do we lessen the pain of price uncertainty? How do you get comfort in your price selections right now?
Simple: you have to understand what price is and how it works.
In our current market you can only look at price with certainty if you look at it as a mechanism that allows a transaction and almost nothing else.
You need to understand that price characteristics change in a falling market. And those changes bring in a whole new genre of commentary called risk analysis. Risk analysis is about examining your chances of achieving your goals. Risk management is about minimising the possibility of missing out on what you want.
At the moment, if you are feeling uncomfortable about price it is probably because you are uncomfortable with what price actually is and does, and with the associated risks.
But how can you get comfortable with price in this market? Understand what it is and what it isn’t.
 
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Is there such a thing as the right price in 2012?
Here is a practical example: A client comes to us and asks, “Is this a good price for this home?” We respond, “On any specific number we honestly don’t know. We can show you how to try and achieve this price or that price within a range, but whether it is a good price is hard to say right now.”
Let’s say that one weekend there are two bidders on a home. The vendor is feeling bullish. Bidder One is prepared to pay $2.1 million and Bidder Two is prepared to pay $2.05 million . The vendor passes the property in at $2.05 million and says he wants $2.15 million. In the end he gets $2.1 million from Bidder One, who is nervous about Bidder Two.
But the situation could have turned out completely differently if on that weekend Bidder Two had already bought a home and so the property was passed into the sole Bidder One, at $1.8 million. Say the vendor had also been told during the week by his spouse that he must buy another home they had seen two days earlier or she’d file for divorce. Our vendor is now a “motivated’ vendor and has moved from bullish to nervous – so he takes the $1.81 million offered post auction from Bidder One who, seeing no other bidders, is prepared to stick to her guns on that lower price.
Which of these prices was a good price? Well, one price was lower than the other, but that was as a result of a convergence of circumstances and opinions. The lower price in the second situation was simply because Bidder Two was no longer in the game, and the vendor was very motivated to sell. But for Bidder One in the first situation, the higher price was also a good price – because she managed to beat off Bidder Two and come to a deal with a vendor who had high expectations.
Is $2.1 million a bad price – is $1.81 million a good price? Well, we don’t know all the circumstances. Was the home the right home for both parties? What if the $1.8 million buyer has to sell in six months because it’s not right for her and prices had dropped by 15%? What if the $2.1 million buyer is very happy bringing up her family in the house and the street and holds on to it for the next 20 years? Which price then was the right price?
The nature of a weak market like the one we’re in now is that we’re relying on a smaller pool of opinions. There may be two bidders, or just one. There’s no certainty. There are just large variances – that is why a $300,000 variance is a very real possibility.
(In a strong market you’re less likely to see these sorts of variances at a public auction, because with three or more bidders, even if one drops out there is still competition to support the price.)
The point is that at the moment prices can vary big time, and for those looking for comfort we recommend you look to your decision-making processes rather than just price.
The good decisions you can make, as a buyer, are to decide whether the house is the one you want, whether you’re prepared to pay what it takes to buy it, what your alternatives are if you don’t buy, what are reasonable price ranges (even if they are wide), what are your strategies to get the lowest price and what are the risks involved in your actions.
If you are to act, then this process will give you some comfort in the uncertainty of price in this market.
Mal James is principal of<a title="James Buyer Advocates" href="https://www.jamesbuyeradvocates.com.au/" target="_blank"> James Buyer Advocates</a>, which advocates on behalf of buyers of property over $1 million. Mal writes weekly auction reports, advice and in-depth market analysis on James' website.</body></html>

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How to have confidence in your property buying decisions, even though the market is always on the precipice of uncertainty

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Over the past two decades there has been explosive growth in the supply of new apartments. Every capital city and many major regional centres have now experienced the spread and popularity of apartments, in particular projects in or close to the CBD.
Major apartment developments are now a central element of urban growth and planning. The Gold Coast is now home to one of the world’s tallest residential buildings. Q1 is an impressive 322.5 metres tall, but other cities, including Melbourne, Chicago and Dubai, also have impressive residential towers.
There are an estimated 100-plus very tall residential buildings across the globe, thus clearly establishing the trend of mega residential towers on our skylines. And while these are impressive projects with extensive marketing campaigns, there is another side of the market – the smaller, more boutique style of development that increasingly peppers our suburbs. In particular these are popular in our popular and more expensive inner suburbs, where there are many projects on the go.
It’s a trend that is evident in particular across many older established suburbs, but this is not a new fashion, as areas like Sydney’s inner east and Melbourne’s St Kilda have long been home to many apartment buildings. Located on what would have been seen as the fringes of the CBD, Sydney’s 13-level Astor (built in 1927, architect Donald Esplin) is a great example of how smaller projects stand the test of time.
These inner-city apartments used to offer a very wide spectrum of prices, from the modest and affordable to the opulent and very expensive, but the reality now days is that to be financially viable, smaller buildings, in particular new developments as opposed to refurbishment projects, need to attract high prices.
However these projects can still cover a generally wide cross section of developments that can range between six and 20-plus apartments, and they are almost always in very desirable and well-established locations.
There tends to be very expensive apartments in these smaller buildings, in highly sought-after locations with AAA finishes, close to the best of established amenities and accordingly with multimillion-dollar price tags – but this does not always have to be the case.
Where do the residents come from for these apartments? Experience shows that many of these projects have become attractive to older buyers trading down from large family homes, either in the immediate area or from other wealthy suburbs.
However, when it comes to marketing these and other smaller projects there is never a simple answer, as the buyers are a diverse group. Smaller developments still attract a wide cross section of people, and while there may be fewer first-time buyers with young families, the market will still represent a mixed community.
Experience also shows that while the market has depth and diversity, the buyers can be harder to find and engage. This partly reflects the limited nature of supply and frequently there is less urgency.
Because of the size of each project the number of apartments for sale will be limited in any one location, but there may be several small projects spread across the area and there is always the private treaty market to consider.
Unlike a large project that can accommodate varied needs and product with much more flexibility appealing to many different buyers, smaller buildings tend to have a more specific target demographic and so the marketing plan, budget and mix of activity is very different.
Commercially it is also necessary to accept that a larger development with wider appeal could have more avenues for success, as the market is bigger. However the development costs will be much higher. This risk is harder to package and requires years of experience by the project team to get it right.
However, in setting the marketing outcomes for any development it is always necessary to take into account the impact of how the mix of apartments and the size of the project will be received by the market.
In some locations, like those mentioned above, generally much higher prices will be required to justify the risk. The amount of capital involved is higher, including the reality that land costs per apartment will be more, alongside demolition and possibly extended holding charges.
In such a case the mix of apartments, their size and standard of finish will be central options to consider if the desired net return is to be achieved. Here again the marketing will be critical so that time on the market is limited, and this would include targeting early off-the-plan sales successfully.
Given the impact of the development costs involved and the resulting asking prices for the project the target demographic that have to be reached should be locked in well before any marketing is undertaken.
The apartments that are created will have to appeal to a very select market in order to be commercially viable. This may appear obvious, but highly focused and accountable marketing will be required to ensure the target is engaged. Be they owner-occupiers or investors, the high prices involved only further emphasise this reality.
Mistakes will be harder to undo. If the target is not engaged, prices will suffer and it will take more time to sell all apartments. Also if the target is engaged and sells fast then prices can be adjusted.
Smaller developments in prime locations simply have to deliver appropriate, quality apartments for sale to justify the development risk with products to precisely match market expectations.
The marketing message needs to be structured for maximum impact to the particular target market. It will also be important in a smaller development to maintain consistent brand values, as a mixed message will only create confusion in the eyes of a very observant buyer.
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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To market smaller developments you must fully understand your target market

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<img src="/images/stories/2012/08/360to380.gif">
The estimated net rent per square metre per year that two tenants will pay for more than 2,000 square metres of office space at the Riverside Quay precinct on Melbourne’s Southbank. The two leases were negotiated by Ben Christie, Colliers International director of office leasing, in Buildings 1 and 2 at Riverside Quay. The whole of level four, Building 2 at Riverside Quay has been leased to global property and project consulting firm WT Partnership Australia. The lessor was Mirvac Asset Management. WT Partnership Australia will occupy 1,360 square metres on a six-year lease. Japara Holdings has signed a six-and-a-half year deal to sub-lease level four (1,026 square metres) in Building 1 at, Riverside Quay. Japara took on the sub-lease opportunity offered by Adecco Australia.
<img src="/images/stories/2012/08/330k.gif">
The net rent per annum that Rip Curl Group parent company RC Waves Pty Ltd is believed to be paying on a new six-year lease over an office and warehouse facility at Keysborough in Melbourne’s south-east in a deal negotiated by Savills Australia. The 134-148 Atlantic Drive property comprises a 3,855-square-metre building including a 479-square-metre office component over two levels, a 100-square-metre mezzanine space, and a 3,276-square-metre warehouse on a 6,750-square-metre site. The deal was brokered by Savills Australia divisional director of industrial Joseph Catanese. The lessor was a private investor.
<img src="/images/stories/2012/08/100kplus.gif">
The estimated gross annual rent that Indian restaurant operator Masala Art will pay to lease new premises in Toowoomba. Masala Art has leased the site of the former Weis Backdoor café in the Clifford Gardens Shopping Centre in a deal negotiated by Ray White Commercial Toowoomba’s Mark Wynhoven and John Smith. Masala Art has subleased the site, taking up the remaining four years of the Weis lease. The shop measures 120 square metres.
<img src="/images/stories/2012/08/110.gif">
The estimated annual rent that church group the Harvest Centre will pay to lease a Burleigh Heads industrial property on the Gold Coast. The property at 1/62 Township Drive has existing approval to be used as a church and was recently vacated by a church group.  The new lease deal was negotiated by Craig George of Colliers International.  The Harvest Centre has taken on a three-year lease with renewal options. It will occupy the 343-square-metre building, which consists of a 280-square-metre fully carpeted warehouse and 63 square metres of mezzanine office. The property is owned by Dawnlite Nominees at Township Drive and is one of two units in the complex and is situated alongside the M1.
<img src="/images/stories/2012/08/295650.gif">
The gross face rent per annum that Precision Mail will pay to lease 5,913 square metres of industrial space at 223-225 Barry Road, Campbellfield, in Melbourne’s outer north. The five-year lease was negotiated by Tim Homes and Marco Sandrin from Colliers International. The property is part of the investment portfolio of 360 Capital Property Group. The office-warehouse property is located just off the Hume Highway within close proximity to the Metropolitan and Western Ring Roads.
<img src="/images/stories/2012/08/75k.gif">
Roughly how much truck repair firm Bronco Truck Repairs will pay to lease an office/warehouse facility at Laverton North in Melbourne’s western industrial precinct in a deal  negotiated by Savills Australia. The property at 41B Little Boundary Rd comprises a 400-square-metre office/warehouse facility on a 2,600-square-metre site. The three-year deal was negotiated by Savills industrial executive Luke Jesson. The property is situated on the corner of Leslie Road, offering immediate access to the Western Ring Road and West Gate Freeway.
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Commercial leasing: Indian restaurant operator Masala Art leasing premises in Toowoomba

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Self-managed super funds and smaller commercial investors punting on a recovery in the Noosa property market could have an opportunity, with a number of shops on the Noosa retail strip listed for sale around the $2 million mark and under in a market that has been dormant for the past two years.
Currently tenanted, the retail properties are offering yields of around 7% and 8% with the potential for capital gains should the market start improving.
The heavily tourism-dependent Sunshine Coast and Gold Coast markets have struggled in the last few years, having not received the flow-on benefits of the mining boom and have been hurt by the high Australian dollar.
However, Paul Butler, director of Ray White Commercial Noosa, says he is seeing an increase in confidence from buyers for properties with good lease covenants.
“Super funds are becoming particularly active as buyers look for stable returns outside of the stock market,” Butler tells Property Observer.
“Retail leasing is gaining some momentum again after a prolonged period of limited activity,” he adds.
Butler says food outlets and coffee shops have been the strong achievers in the current market.
Last month, Colliers International agents Nick Dowling and Brad Moore marketed 27/40 Hastings Street, with 65 square metres of retail space with an additional exclusive-use outdoor area of 51 square metres, currently occupied by fashion store Venetian Laundry. RP Data records show it sold for $1.57 million.
Dowling says that while there are a number of assets on the market in Hastings Street at present, retail sales activity on the strip had been non-existent for at least the past two years.
“Hastings Street is the epicentre of the world renowned Noosa Heads and comprises a mix-use environment primarily made up of three-storey resorts with ground floor retail tenancies,” he says.
Other recent sales on Hastings Street include a mixed-use development at 11 Hastings Street measuring 949 square metres, incorporating La Vida restaurant on the ground floor and guest accommodation and office spaces on the second floor, which sold for $10.8 million in July. Office space from 66 square metres to 167 square metres is available for lease at 11 Hastings Street at $450 per square metre.
Further down Hastings Street at number 18, a medical suite measuring 58 square metres changed hands for $370,000. It las sold for $561,000 in January 2005.
 
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In April last year a 50-square-metre shop at 14 Sunshine Beach Road at Noosa Heads sold for $270,000 on a yield of around 8%.
On the high-end shopping strip of Hastings Street at Noosa Heads shop five in the French Quarter mixed-used precinct at 62 Hastings Street (pictured below) is up for sale by private treaty with an asking price of $1.65 million.
<img src="/images/stories/2012/08/hastingsshop.jpg">
The shop generates rental income of around $115,900 per annum – a yield of around 7%.
It is currently tenanted by retailer Poeta – incorporating the businesses of Gordon Herford master jeweller and the artistic works of Belinda Herford – on a new five-year lease until 2016.
Other retailers in the “The French Quarter” include Quicksilver Surfwear and Tom Offermann Real Estate.
The property is being sold by Tracey Ryan and Paul Forrest from Ray White Commercial Noosa.
A cheaper investment with exposure to Noosa shoppers is three-level strata building on Thomas Street in Noosaville (pictured below), including the premises of take-away joint Burger Bar, which is listed for sale with a price tag of $775,000.
<img src="/images/stories/2012/08/hastingsshop2.jpg">
The two-storey unit is situated within the “The Islander Resort” a low-rise holiday unit complex comprising 51 residential apartments and 15 retail shops with two street frontages to Gympie Terrace and Thomas Street at Noosaville.
According to the investor memorandum, Thomas Street is regarded as one of the prime “eat streets” locations in Noosaville and services the surrounding residential and tourist resorts.
The shop measures 39 square metres, with the property currently bringing in gross income of around $55,000, translating into a yield of around 7%.
Above the shop is a two-level, two-bedroom apartment.
The owner has the opportunity to receive dual incomes form both the residential and commercial aspects of the property.
The shop is up for sale by private treaty and is being sold by David Brinkley, a commercial property consultant  from Ray White Commercial Noosa.
Also in Noosaville, Paul Butler and Paul Forrest from Ray Commercial Noosa are selling a 340-square-metre first-floor medical/ professional suite with lift access on Gibson Road by private treaty (pictured below).
<img src="/images/stories/2012/08/hastingsshop3.jpg">
The property adjoins 24-hour gym Jetts Fitness and has an asking price of $1.16 million.
It is currently tenanted until April 2013 with a five-year renewal option returning rent of $93,500 per annum and representing a net yield of around 8%.
According to the investment report, the strata office is in an area that “has in the past experienced strong capital growth”.
The strata office is opposite the Noosa Village Shopping Centre and within the Gibson Road retail precinct, which is home to Harvey Norman and various homeware and electrical retailers.
Other retail assets for sale nearby include a bar/bistro and three shops on one title include this property on Duke Street, with strong leasing already in place.
<img src="/images/stories/2012/08/noosashop.jpg" width="470">
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Opportunities for smaller investors with Noosa shops and suites from $800,000 to $2 million

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Was it the Greek tragedian Sophocles who said “no enemy is worse than bad advice”? If he’d lived in the 21st century, he’d no doubt be aiming his words at media reports from the property or finance industries. He may have followed his words with “no bad advice is worse than ‘expensive’ bad advice”. Because in both these industries, the consequence of bad advice costs exactly that – a good deal of expense.
It has the power to make or break an individual - the latter it will do quickly, the former it will do slowly – but undoubtedly, a bad mistake made on bad financial or property advice alone is not easily, or painlessly, undone.
Both industries are hard to control and even if the current level of regulation increased, it would be difficult to restrict what can and can’t be published in the media altogether. The best option seems to be by way of education – teaching readers to “read between the lines”.
It starts with a broader understanding of the base motivation lying behind the authorship – although in the age of digital media, ideally it should start in school.  This aside – the reader should question everything, because currently the landscape of hype is littered with misinformation.
Like other professionals in the industry, I’m contacted weekly regarding submissions to various property magazines and websites.  Sometimes I’m given the freedom to write on a subject of choice, other times I’m asked to comment on current newsworthy items.  However, I made a personal commitment some time ago to remove the “party line” from my articles and write from an independent viewpoint – a viewpoint not always shared, or welcomed, by those I work with.
This past week, a request came from what many would assume to be a respected property investment magazine wanting to beef up the content on its website. As with many property outlets, the publication sent out a mass e-mail requesting material from “area specialists” in return for some free promotion.  Obviously the idea is not just to attract readers but more importantly advertisers – the more content, the greater the number of hits.
In this instance, the publication wanted information on “hotspots” – where the market’s heading, which areas would outperform, and so forth. Obviously if you ask selling agents to identify a hotspot for the sake of free promotion, they’re going to spruik the suburb they specialise in. The advice is not independent or unbiased, and the word “expert” should come with a large disclaimer attached. If they sell in Doreen, Victoria for example, they’re hardly going to advise a purchase in East St Kilda! However, it’s fair to suggest a broad spectrum of readers will be influenced by the data.
The information carried in local and national newspapers holds the potential to portray a more balanced viewpoint.  However, unless the reader has foundation of understanding about the subject, misconceptions can easily occur.
This leads me to a brief mention of a report a few days ago in the <a target="_blank" href="https://www.news.com.au/realestate/news/property-values-double-in-10-years/story-fndba8uq-1226441495370">Herald Sun</a> claiming “house prices” had risen some 125% in Melbourne over the past 10 years. Before vendors dance around in glee, it’s important to draw a distinction between the terms “house prices” and “median values”.
The term “house prices” suggests every property and every vendor has experienced the windfall, however we know this isn’t the case.  Common sense alone dictates that areas close to city centres and major transport hubs, where the available residential land has been used and the population continues to increase, has inevitably underpinned established property prices over the last decade. Therefore, the vendors who purchased carefully a decade ago would no doubt have attracted healthy growth – growth that could be in excess of 125% in some cases.
However, there are plenty of vendors who wouldn’t have benefitted from a 125% windfall. They may have purchased the first roll out of apartments in Melbourne’s Docklands for example, or in outer suburbs. They may not have taken due care with the type of property, price paid, or buyer demographic in the near vicinity when choosing.
Property prices rise and fall, as they do with any other asset.
Another report, <a target="_blank" href="https://au.news.yahoo.com/thewest/a/-/wa/14456028/property-experts-blame-the-gfc-for-dud-forecasts/">“Property experts blame the GFC for dud forecasts”</a>, demonstrates the foolhardy nature of trusting respected analysts without a good deal of due diligence or risk management. In this instance, the article points out how previous rather bullish forecasts regarding the outlook for Perth’s growing prospects pre GFC were a little more than off the mark.
It’s true, few could have predicted the “X factor” event – but it also highlights how a complex the arena has become and importantly, how wary any investor should be prior to accepting predictive report (especially considering eruptions from the international landscape play an increasing role in consumer sentiment).
However, it’s not just pre-GFC reports that get it wrong – a post-GFC “off the mark” example can be viewed <a target="_blank" href="https://www.realestnews.com/html/ep130_6">here</a> – BIS Shrapnel predicted in a report in 2009 that house prices in Melbourne, Sydney and Adelaide would increase up to 22% over the following three years. Or read <a target="_blank" href="https://www.news.com.au/money/property/sydney-property-prices-set-to-double/story-e6frfmd0-1225843302974">here</a> – data providers in 2009 predicting 7.6% growth per annum in Sydney over the next decade.
Granted, we still have a while to go before we can calculate the accuracy contained in some of the above information, however all are based on median house prices, which as previously mentioned have little relevance for individual property prices.
With overall sales turnover still lagging behind that of previous years, any rise in median value is only representative of the particular composition of “good” properties selling.  Buy well and you may sell well and get an average 7.5% per growth per annum.  One the other hand, purchase into one of the high-rise blocks currently under construction and based on the level of supply alone, you’ll probably get the opposite.
This aside, reading reports on future hotspots is all well and good.  However, they tend to feed the concept that money can be made from property short term.  It’s important to balance the message with an understanding of the motivation – good or bad – lurking behind the words. This aside – boom markets (hotspots) have a habit of “correcting” rather sharply.  The risks are always greater if due diligence isn’t taken initially. Be warned!
I don’t expect anyone to think politicians can be trusted on the face of the information they provide.  Even the most innocent of minds will be educated in this regard. 
<a target="_blank" href="https://www.geelongadvertiser.com.au/article/2012/08/03/341851_news">The market in Geelong, Victoria, was expected to remain flat with minimal growth over the past 12 months</a>. But it turns out, when it comes to council rates, property prices are soaring!
According to the latest rate assessments, values in Geelong have increased 10.2% over a two-year period.
<a target="_blank" href="https://www.news.com.au/realestate/investing/geelong-houses-jump-10-per-cent-in-two-years/story-fndbarft-1226444485811">“The property value increase, a jump of 10.2% over two years, follows an 11.2% increase in values during 2008-10.”</a>
The lessons gleaned from all of the above should ring clear – it’s only through careful researching and an element of self-education that you can really buffer against a risky environment. Don’t blindly accept the advice of a “property expert” or journalist, any more than you’d trust that of a politician without investigating the reliability of the data they provide or motivation behind the sales pitch.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
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Read between the lines to get the most out of property investment advice

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Conveyancers are absolutely integral to facilitating any type of property transaction, yet most people are somewhat in the dark about their role.
Conveyancers are very much the quiet achievers in the property industry but are absolutely integral to facilitating every type of property transaction.
Many people, including some in the property industry, don’t necessarily understand the full extent of what we do. For example, many buyers and sellers aren’t aware that they can choose their own conveyancer in a property transaction.
A good conveyancer can hold a property transaction together – they are an important resource for the buyers and sellers, but also for real estate agents and mortgage brokers.
The role of a conveyancer
Conveyancers are responsible for the legal and statutory processes involved with the transfer of ownership of real estate from one person or entity to another. The preparation, execution, verification and lodgement of numerous legal documents are important elements of conveyancing.
Your conveyancer is very much a key part of your advisory team, in addition to your real estate agent and mortgage broker, and should be involved with the purchase or sale of your property from the outset.
A good conveyancer will assist you in many ways whether selling or buying – this includes reviewing the contract and offering independent advice, advising on the information provided in statutory disclosure statements, searching within government departments and local authorities for matters affecting the property, and preparing the legal documentation.
Some of their duties include responsibility for attending to payment of stamp duty on the transfer of the property on behalf of the client, coordinating and attending settlement with the client's financial institution, advising a client when settlement is completed and notifying the state’s water utility, the  local council and any affected strata or community managers of change of ownership.
A good conveyancer can also assist you with various other transactions such as leases, sales of business and land divisions, to name a few.
Your right to choose
As a key member of your selling or buying advisory team, it’s important to know that you have the right to choose your own conveyancer to help facilitate this process, in the same way as it’s your decision which real estate agent or mortgage broker you use.
As a result, it’s important that you make a well researched and informed decision. While there’s merit in considering the recommendations of others, don’t feel pressured to use them, but do your own research and make your own choice. Remember, it is your choice.
Chances are you’re going to be involved in a property transaction more than once in your life, so look to work with a conveyancer who you feel comfortable with and who you would happily use again in the future.
It’s also very important that you do not choose the conveyancer that the other party to the transaction is using. While some might suggest that it saves time, effort and money for the same conveyancer to act for both, it has the potential to create issues should a conflict of interest arise in your transaction.
Your conveyancer is ‘in your corner’ to help advocate for and protect your interests. If they are also acting for the other party there is the very real potential for them to be compromised if there is a problem with the transaction.
What to look for
When looking for a conveyancer to assist in you there’s merit in talking with two or three in the first instance to help you make your decision.
Look for a conveyancer who is a member of the Australian Institute of Conveyancers and is a certified practising conveyancer, this means he or she maintains a certain level of ongoing professional development and has a certain level of qualifications and experience. It means the conveyancer is up-to-date with changing legislative requirements and industry standards.
A conveyancer who has a certain level of longevity working in the local real estate market and knowledge of and experience in a broad range of property transactions is also a good candidate for your business.
Ask about the likely fees and charges (although don’t choose a conveyancer that is simply the cheapest), how long settlement is likely to take and how the conveyancer will communicate with you throughout the process.
It’s important that you brief your chosen conveyancer on anything that may impact on the transaction or delay settlement, such as financial issues or a short timeframe, so he or she can factor this into process. 
Most importantly, remember it is always best to speak to your conveyancer from the outset of any property transaction. The earlier your conveyancer is involved, they more likely he or she is to be able to identify any problems or issues and address these. 
Penny Erskine is a qualified conveyancer and marketing manager at Adelaide conveyancing firm <a href="https://www.conveyancingmatters.com.au/index.php">Conveyancing Matters</a>.
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A good conveyancer can hold a property transaction together: Penny Erskine

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Auctioneer Damien Cooley had a busy and very successful weekend.
He achieved a 100% clearance rate on 10 auctions on Saturday.
<a href="https://twitter.com/damiencooley" target="_blank"><img src="/images/stories/2012/08/cooleytweets.jpg"></a>
On Sunday, he completed the Sydney City to Surf  in just over an hour
Cooley’s next big challenge will be the <a href="https://www.propertyobserver.com.au/auctions/southern-highlands-burrawang-cafe-reverse-auction-not-the-first-but-still-stirring-up-debate/2012072055673" target="_parent">reverse auction of the historic Burrawang Cafe and Bower Cottage in the Southern Highlands on August 26</a>.
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Tweet of the weekend: Sydney auctioneer Damien Cooley has a run of good fortune

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The decision by the RBA to start reducing interest rates in November last year has added “ballast” to a housing market that was “starting to list quite badly”, according to Westpac senior economist Matthew Hassan.
Writing in Westpac’s August Market Insights report, Hassan points to a number of signs that “after a shaky start, Australia’s housing markets are now showing more convincing signs of stabilising”.
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He says the 125-basis-point cut from the cash rate since November last year has eased the pressure on those servicing existing mortgages, while affordability is near decade-best levels for prospective buyers.
“With rates now on the ‘easy’ side of neutral, the pressure is easing on the mortgage belt – mortgage arrears appear to have peaked and, on the basis of interest rates and incomes at least, should start to track lower from here.
“Housing affordability is also greatly improved with would-be buyers enjoying the most conducive mix of prices, interest rates and incomes since 2003 (excluding the ‘ultra-low’ rate settings in 2009),” says Hassan.
Consumer attitudes are also changing, with Hassan pointing to the results of the Westpac-Melbourne Institute Consumer Sentiment survey “showing consumers starting to warm to real estate again”, setting the scene for a housing market recovery.
“Views on whether now is a good time to buy a dwelling (a sub-index of the Westpac-Melbourne Institute Consumer Sentiment survey) are now at relatively upbeat levels that have led upturns in the past.
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“Fears of house price declines are also subsiding with a notable uptick in the proportion nominating ‘real estate’ as the wisest place for savings, a tentative sign of renewed investor interest," he says.
“Sentiment is an important catalyst for generating a sustained upturn.”
However, Hassan warns of “significant headwinds to a housing recovery in Australia”.
He says the most powerful headwind to a housing recovery is household deleveraging.
“Despite five years of restraint, household debt levels remain near historic highs. Housing upturns usually go hand in hand with rising household leverage.
“This does not preclude a recovery – the rebound in 2009-10 showed housing can still have an up-cycle – but it does mean any recovery that does eventuate will be harder to sustain.
Hassan expects that when the market recovers, "trend price growth" will be below 5% per annum.
He also warns that while sentiment is positive on housing, “sentiment remains much weaker on other aspects crucial to the home buying decision: job loss fears remain very high and consumers’ financial attitudes are still firmly fixed on conservative/defensive risk-averse and debt-averse behaviour”.
“With labour markets and the global financial system likely to remain unsettled in 2012, these factors will continue to deter many potential buyers – both owner-occupiers and investors,” he adds.
As a result, Hassan expects the current housing cycle to show a “much bumpier, more gradual transition from stabilisation to a recovery that is likely to be relatively lacklustre by historical standards”.
But the overall picture is of markets “clearly stabilising” with all price measures recording a moderation in declines with most up slightly for the year to date, says Hassan.
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Other positive indicators, he says are:
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<li> “Annual price inflation across ‘all dwelling’ measures ranges from –2.7% to –1.1% with annualised six month growth rates of between –1.2% and +1.9%. </li>
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<li>“Auction markets are telling a similar story with clearance rates up about 7 percentage points from their February lows. </li>
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<li>“Housing loan approvals have also moved off recent lows for both owner-occupiers and investors and dwelling approvals have snapped out of what was looking like a disturbing drop-off between August and April.</li>
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Hassan notes that some of these readings may be being skewed by state government policy changes.
“The NSW, Victoria, Queensland and South Australia state governments all made significant changes to bonus and concession schemes for first home buyers and/or those building new dwellings.
“Several of these were introduced around June/July and would have encouraged buyers and builders to bring forward activity into the first half of the year.
“As such recent finance and dwelling approvals may be overstating strength a little and price measures may also have been impacted (skewed lower during ‘pull forward’ periods with a statistical ‘bounce’ as this effect drops out)."
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