<p data-end="309" data-start="290"><strong data-end="309" data-start="290">Article summary</strong></p>

<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" />
<p data-end="896" data-section-id="ojaazg" data-start="792">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.</p>

<p data-end="1358" data-start="1137">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.</p>

<p data-end="1358" data-start="1137">[smartcode_project:default project_id=90059 project_image_fid=374075]</p>

<p data-end="1577" data-start="1360">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.</p>

<p data-end="1781" data-start="1579">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.</p>

<p data-end="1977" data-start="1783">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.</p>

<p data-end="1977" data-start="1783">[smartcode_project:default project_id=90059 project_image_fid=374059]</p>

<p data-end="2314" data-start="1979">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.</p>

<p data-end="2423" data-start="2316">Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.</p>

<p data-end="2519" data-start="2425">"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.</p>

<p data-end="2688" data-start="2521">"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."</p>

<p data-end="2688" data-start="2521">[smartcode_project:default project_id=90059 project_image_fid=374060]</p>

<p data-end="2840" data-start="2690">Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.</p>

<p data-end="2900" data-start="2842">"Materiality tells the story of a place," Williamson said.</p>

<p data-end="3105" data-start="2902">"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."</p>

<p data-end="3300" data-start="3107">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.</p>

<p data-end="3300" data-start="3107">[smartcode_project_cta:default project_id=90059]</p>


Joel Robinson

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

<p data-end="288" data-start="269"><strong data-end="288" data-start="269">Article summary</strong></p>

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289"><strong data-end="374" data-start="291">DVB Projects is preparing to launch its second Gold Coast apartment development</strong>, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443"><strong data-end="513" data-start="445">The 34-level tower will comprise just 49 ultra-luxury residences</strong>, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574"><strong data-end="646" data-start="576">The launch follows strong demand at DVB's nearby Sea Glass project</strong>, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718"><strong data-end="787" data-start="720">The development adds to the transformation of Old Burleigh Road</strong>, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<p data-end="1011" data-start="790"><a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.</p>

<p data-end="1296" data-start="1013">The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion</p>

<p data-end="1296" data-start="1013"><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" /></p>

<p>The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.</p>

<p>“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;</p>

<p>“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."</p>

<p>Brown says the site itself is "exceptional."</p>

<p>"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." /></p>

<p>The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.</p>

<p>A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.</p>

<p>Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" /></p>

<p>Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.</p>

<p>“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.</p>

<p>“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.</p>

<p>“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" /></p>

<p>Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.</p>

<p>With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.</p>

<p>[smartcode_project_cta:default project_id=145141]</p>


DVB Projects to launch second Broadbeach apartment tower as demolition commences

<p>A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.</p>

<p>Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.</p>

<p>While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.</p>

<p><img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" /></p>

<p>Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.</p>

<p>Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.</p>

<p>The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.</p>

<p><img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" /></p>

<p>The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.</p>

<p>In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.</p>

<p>Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.</p>

<p>According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.</p>

<p>Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.</p>

<p>The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a></em></p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a></em></p>

<p>&nbsp;</p>


Alfred Street the latest North Sydney pocket to be transformed by residential development

<p>Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.</p>

<p>For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.</p>

<p>Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.</p>

<p>"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."</p>

<p>[smartcode_project:default project_id=7354 project_image_fid=374893]</p>

<p>Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.</p>

<p>The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;</p>

<p>Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.</p>

<p>Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.</p>

<p>[smartcode_project:default project_id=7354 project_image_fid=269527]</p>

<p>Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.</p>

<p>"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."</p>

<p>The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.</p>

<p>"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."</p>

<p>[smartcode_project:default project_id=7354 project_image_fid=374892]</p>

<p>Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.</p>

<p>Construction is underway with completion expected in mid-2027.</p>

<p>[smartcode_project_cta:default project_id=7354]</p>


Boutique Gordon townhomes now come with a BMW iX3 50

<p>Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.</p>

<p>The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.</p>

<p>The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.</p>

<p><a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.</p>

<p>The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.</p>

<p>[smartcode_project:default project_id=145590 project_image_fid=359521]</p>

<p>The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.</p>

<p>[smartcode_project:default project_id=145590 project_image_fid=359527]</p>

<p><a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.</p>

<p>"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.</p>

<p>"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.</p>

<p>"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.</p>

<p>"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=145590 project_image_fid=359523]</p>

<p>The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.</p>

<p>Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.</p>

<p>EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.</p>

<p>WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.</p>

<p>"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.</p>

<p>"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."</p>

<p>Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>[smartcode_project_cta:default project_id=145590]</p>


Vitale breaks Byron Bay records with EADE sales flurry 

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>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.</p>

<p>Even in the low seasons of May and June, occupancy levels reach around 40 per cent.</p>

<p><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" /></p>

<p>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</p>

<p>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.</p>

<p><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" /></p>

<p>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.<span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><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" /></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span><span><span><span><span><span>​</span></span></span></span></span></span></p>

<p>The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;</p>

<p>Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.</p>

<p>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;</p>

<p>Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.</p>


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

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<div>In Britain the topical political and media talk is of whether an "Australian-style" points based immigration system should be introduced, without any real clarity about what that would mean in practice.</div>
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<div>Back Down Under it's often said that Australia's population growth must slow if the economy isn't creating enough jobs. This is essentially true for 457 visas, but does overlook the potential underlying demand for other visa classes.</div>
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<div>I previously looked at the newly relaxed international student visa rules which were made effective from 1 July, easing the rules for parents and guardians of primary school age students in Australia.<br><br>The recent election campaign also led to some potentially interesting shifts via proposed policies for...</div>
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<div><strong><span style="text-decoration: underline;"><span>Parent visa rules</span></span></strong></div>
<p><span>In 2016, the percentage of Australians born overseas hit its highest level in 120 years at a massive 28 per cent. </span></p>
<div>
<span>Immigration policies understandably prefer immigrants to be of the young, working (or creating jobs through business), and tax-paying demographic.</span><br><span><br></span><span>Thus over the</span><span> 2015/16 Migration Programme year, parent visa places were capped as follows:</span>
</div>
<ul>
<li><span><strong>1,500 places allocated to Parent (non-contributory) visas </strong></span></li>
<li>
<span><strong>7,175 places allocated to Contributory Parent visas</strong></span> </li>
</ul>
<div><span>This means that your best chance of getting a parent visa in the last financial year was likely <a href="https://www.border.gov.au/Trav/Visa/Fees" target="_blank">to pay</a> the prohibitive A$47,000 for a contributory visa - about A$100,000 for a couple! - while successful sponsorship for standard parent visas was extremely hard to come by. </span></div>
<div><span> </span></div>
<div><span>The unattractive alternative for parents wanting to join their families in Australia was to come in on a one year visitor visa, then leave the country for six months on each occasion. It would be a sore test of anyone's resolve to repeat this process over any meaningful period of time! </span></div>
<div><span> </span></div>
<div>
<span>With some 6.8 million Australians having been born overseas the potential demand for parent visas is massive and growing, particularly from China and India. </span><br><br><span>I wouldn't believe anything a politician told me these days, but Google trends activity shows that </span><span>there has been an explosion of interest in parent visas since the last full Census in 2011.</span>
</div>
<div> </div>
<div>
<a href="/images/2016/09/06/PArents.jpg" target="_blank">Click to enlarge</a><br><br><div class="separator">
<img src="/images/2016/09/06/PArents.jpg" alt=""> </div>
<div class="separator"> </div>
</div>
<div>
<span>It's worth noting that previous rules weren't favourable to Chinese families, due to China's one child policy meaning that most parents naturally had only one child in Australia, which was an obvious mathematical hindrance in proving that the balance of your family lived here. </span><br><span><br></span><span>As at 30 June 2016 due to the caps there were 38,770 persons in the queue for standard parent visas (up 59 percent from last year), and another 5,160 persons for aged parent visas (up 28 percent). </span>
</div>
<div><span> </span></div>
<div><a href="/images/2016/09/06/Parent.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2016/09/06/Parent.jpg" alt=""></span></div>
<p> </p>
<div>With standard parent visas presently capped at 1,500 per year, a queue of this size at 30 June equated to a ridiculous 25.8 year average wait time for an application to be processed. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Election pledges</span></strong></div>
<div> </div>
<div>During a keenly contested election campaign the Australian Labor Party (ALP) announced plans to extend visitor visas to parents out to a far more palatable three years - with parents only being required to leave the country for four weeks at the end of each visa term and paying a $5,000 bond to ensure cover for medical and social services.<br><br>Surely a potential vote-winner for the ALP in the rapidly growing migrant communities, particularly in an era where so many young families also strive to be dual-income households. </div>
<div> </div>
<div>As tends to be the way of these things, the Coalition's knee-jerk response was to announce a new parent visa plan itself, especially aimed at Chinese and Indian visitors (provided that new arrivals pay for health insurance and don't rely on the welfare state for health care, shamelessly piggybacking from the ALP proposals!) and allowing for continuous <strong>five year</strong> visitor visas. </div>
<div> </div>
<div>Given that the number of overseas born Aussies is soon to pass 7 million, such a policy could potentially lead to hundreds of thousands of applicants for visitor visas from parents sponsored by Australian citizens, largely from ageing, non-English speakers hailing from Asia (which is not really the ideal target demographic for policy makers).<br><br>For this reason the Coalition's proposed policy denotes that parents of Australian citizens and permanent residents who have lodged a permanent parental visa application "may" be issued a five year visa "on a case-by-case basis". </div>
<div> </div>
<div>In other words, this is an 'out'. Minister Dutton has the discretion to limit the number of visas issued and retains the right for policy to change course henceforth. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>At this juncture there appears to be very little clarity surrounding what will happen with respect to parent visas.</div>
<div> </div>
<div>The Coalition probably doesn't know the answer itself, election pledges doubtless being dreamed up on the hoof in response to the ALP's evidently popular proposal. </div>
<div> </div>
<div>A point here relevant to the property markets is that if Australia does end up with an oversupply of thousands of apartments as many have forecast, there are levers that can be pulled to loosen immigration policies.</div>
<div> </div>
<div>After all, a sceptic would say that if there's a policy that's always guaranteed to garner support from governing parties of either persuasion, it's one aimed at propping up ailing capital city housing markets. </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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pwargent-M4siyDbqQY

Immigration levers and the apartment oversupply scenario: Pete Wargent

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<p>In my blogroll I link to some useful sources for the diminishing number of fans of Australian share markets, including Motley Fool (stock picking) and Montgomery (value fund).</p>
<p>Both have put out pieces recently talking about the property market peaking.</p>
<p>Demonstrating excellent efficiency Motley Fool simply released a near carbon copy of last year's note, while by my last count Montgomery has run no fewer than seven articles in a dozen days (could be eight, I've lost count). An impressive hit rate indeed!</p>
<p>Of course, as a property market advisor, I'm duty-bound to say that just as there is no one 'share market', so do homebuyers buy one house, and not the entire real estate market with all of its gleaming dog-boxes in the sky.  </p>
<p>In any case, share market promoters predict property market downturns every year; it's all part of the sales pitch. </p>
<p><strong><span style="text-decoration: underline;">Why property?</span></strong></p>
<p>I do a good deal of my work with hedge funds, and one of the points which often requires explanation to curious visitors from overseas is why everyday Australians even invest in property at all.</p>
<p>Good question. It's partly because Aussies are encouraged or incentivised to do so, since the government invests as close to zero as makes no difference in the provision of rental housing.  </p>
<p>It's also because because Australia is one of the most urbanised nations on earth, with a population broadly set to double by mid-century, and with more than four fifths of that population growth expected to be in just a handful of capital cities. </p>
<p>Investors fancy that by owning property in middle ring capital city suburbs, land prices will rise over time, and over any meaningful period of time they've consistently been very handsomely rewarded for taking that view.</p>
<p><a href="/images/2016/11/11/LAND.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/11/LAND.jpg" alt=""></p>
<div id="post-body-2271360423463001001" class="post-body entry-content">
<div class="separator"> </div>
<div class="separator">Perhaps even more important than all of the above, it's because with our compulsory superannuation contributions tens of thousands of Mum-and-Dad investors saw their retirement plans cruelly FUBAR by the last share market crash (it's a family blog, so you'll have to look up a few of today's acronyms). </div>
<div class="separator"> </div>
<div class="separator">Small wonder that people look at bricks at mortar as an investment option with mortgage rates close to record lows. </div>
<div class="separator"><strong><span style="text-decoration: underline;"> </span></strong></div>
<div class="separator"><strong><span style="text-decoration: underline;">Elephant in the room</span></strong></div>
<div class="separator"> </div>
<div class="separator">Since we're on the subject of asset classes that are set to underwhelm, let's talk about Aussie shares!</div>
<div class="separator"> </div>
<div class="separator">The towering elephant in the room is that Australia's share market has been performing atrociously, with the ASX 200 some 24 per cent below where it was nearly a decade ago, despite yesterday's bounce and in spite of the lowest interest rates on record ("time in the market....lol).</div>
<div class="separator"> </div>
<div class="separator"><a href="/images/2016/11/11/4%20XJO.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="/images/2016/11/11/4%20XJO.jpg" alt=""></div>
<div class="separator"> </div>
<div class="separator"> </div>
<div class="separator">Since December 2012 while record low rates have pushed the S&amp;P 500 around 50 per cent higher, Australia's ASX 200 is struggling to record any gains at all (not that this is a new phenomenon - hardly! - Aussie stocks have chronically underperformed the S&amp;P 500 for well over two decades). </div>
<div class="separator"> </div>
<div class="separator">And what's more, since we have an index that has a fair weighting towards resources stocks, the market is not even heading back to 6000 any time soon, at least not sustainably, however much the vested interests may try to talk it up. </div>
<div class="separator"> </div>
<div class="separator"><span>Thanks to collapsing resources earnings, the market is actually offering less value than all those years ago, not more, as measured by forward PE ratios.</span></div>
<div class="separator"><span> </span></div>
<div class="separator"><span>What's that you say? Ah, you don't invest in the market, you invest in individual securities? Ha, t<span>ouché!</span></span></div>
<div class="separator"><span><span> </span></span></div>
<div class="separator">Yes, I know, I know, it's all about the dividends (assuming that those don't get slashed as well). </div>
<div class="separator"><span><span> </span></span></div>
<div class="separator"><span><span><strong><span style="text-decoration: underline;">Market is not returning to 2007 peak</span></strong></span></span></div>
<div class="separator"> </div>
<div class="separator">In my opinion, the share market is more likely to fall than rise, just as soon as the latest ridiculous spike in commodity prices inevitably reverses, and as APRA taps on the credit brakes again.</div>
<div class="separator"> </div>
<div class="separator">When I wrote my first book in 2011, I set out some introductory guidelines for how investors should assess 'value' in the share markets.</div>
<div class="separator"> </div>
<div class="separator">I noted in that book that healthcare was definitely a sector worthy of attention, not only because I'd previously worked in the listed healthcare sector as a Group FC - spending endless hours and weekends fine-tuning my beloved Annual Reports and ASX releases - but because of our ageing population.</div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">Volatility</span></strong></div>
<div class="separator"> </div>
<div class="separator">Share market investors could be forgiven for being confused, as there is a lot of conflicting advice around. Some like to invest actively or trade, others like to invest passively with low fees, others still take a more focused or value approach.</div>
<div class="separator"> </div>
<div class="separator">As a value investor, Montgomery has previously noted that technical analysis is "nonsense", which may well be so, but TA does at least present market participants with some guidance for when to sell. </div>
<div class="separator"> </div>
<div class="separator">Value investors need to be rigorous, and to employ a considered judgement call for when a stock is no longer offering value, all the while benchmarking a portfolio against new opportunities as they arise. </div>
<div class="separator"> </div>
<div class="separator">One of the challenges for value investors is that the most mouthwatering opportunities inevitably lie outside the largest listed companies, in smaller and more dynamic businesses with far greater potential for growth.</div>
<div class="separator"> </div>
<div class="separator">These mid-cap companies have potential for greater returns, and can be more volatile (higher beta, if CAPM is your thing), which means that you might sometimes need to be able to cope with large drawdowns. </div>
<div class="separator"> </div>
<div class="separator">Here's value stock favourite Vita Group (VTG), for example, which recently crashed spectacularly. </div>
<div class="separator"> </div>
<div class="separator"><a href="/images/2016/11/11/2%20VTG.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="/images/2016/11/11/2%20VTG.jpg" alt=""></div>
<br><div>And in the healthcare sector, which has performed tremendously well in recent years, here's another favourite value stock Healthscope (HSO), which has also recently crashed.</div>
<div> </div>
<div><a href="/images/2016/11/11/3%20HSO.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div class="separator"><img src="/images/2016/11/11/3%20HSO.jpg" alt=""></div>
<br><div>It's also been quite a rollercoaster ride for value investors' favourite Sirtex Medical (SRX) over the past year, which rose quite impressively before crashing.</div>
<div> </div>
<div>
<a href="/images/2016/11/11/SRX.jpg" target="_blank">Click to enlarge</a><br><br><div class="separator"><img src="/images/2016/11/11/SRX.jpg" alt=""></div>
<br>A value investor's motto is that you should buy shares like you buy groceries (i.e. BTFD...more acronyms sorry) and therefore theoretically these crashes in the share price can represent buying opportunities.<br><br>Assuming that you still see the intrinsic value stacking up, and assuming that you are right and the market is wrong, that is.<br><br><strong><span style="text-decoration: underline;">Buyer beware</span></strong> </div>
<div>
<br>Like you and me, all businesses have a life cycle. They are born, they grow, and one day, they wither and die (or merge, or get bought out, or taken over).<br><br>For that reason a value investor must know when to sell as well as when to buy.<br><br>
</div>
<div>Forge Group (FGE) was one of Montgomery's "A1" services businesses of yesteryear, while Decmil (DCG) was another favourite, both of which ran into trouble after the resources capex cycle peaked in 2012.<br><br>Fortunately Montgomery is a market pro, and being in the market full time he has the ability to manage risk, so in turn he was able to see the writing on the wall for the mining service sector and sold out in 2012 before the SHTF.<br><br>The way in which this is possible is to forecast the economy and its unpredictable cycles, and to recalculate the intrinsic value of a security on an ongoing basis.<br><br>In my experience, too many amateur investors fall in love with their analysis, and while they enjoy the process of buying stocks they find that breaking up is harder to do (too often they think the market is wrong, when perhaps it is the outlook for the company or sector that has changed).<br><br>Here's what happened to Decmil (DCG), which struggled to stay profitable after the resources investment boom peaked in 2012:<br><br><div class="separator"><a href="/images/2016/11/11/DCG.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="/images/2016/11/11/DCG.jpg" alt=""></div>
<br>Forge Group (FGE) went to the wall almost overnight in 2013 after massive power station losses were unexpectedly revealed to the market, with Forge's Managing Director David Craig (not the singer) noting that the this was "extremely disappointing".<br><br>David Craig (not the singer) proved to a master of understatement as he noted that unexpected writedowns on two power stations for the 2013/14 financial year totalling $127 million were "not acceptable to the board". Probably not that acceptable to shareholders either, tbh.</div>
<div> </div>
<div><a href="/images/2016/11/11/1%20Forge.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><img src="/images/2016/11/11/1%20Forge.jpg" alt=""></div>
<br><div>Even in September 2013, just before the company went into administration, the intrinsic value of FGE was said to be above $13 (when the real value was closing in on $nil, had the full story been disclosed to the market). </div>
<div>
<br>Herein can lie some of the many challenges with value investing in individual stocks - companies can report half-truths, or mask enormous losses, or trade while insolvent, or sometimes even worse. </div>
<br><div>In case you think you won't ever pick a dud stock, recall that Warren Buffett recently took an enormous bath on his huge investment in Tesco, when a corporate fraud was uncovered in the guise of aggressive accounting and overstated profits.<br><br>
</div>
<strong><span style="text-decoration: underline;">ASX to fall</span></strong><br><div> </div>
<div>Don't be duped into believing that the Australian share market offers better value just because the index is still much lower than it was in 2007. It doesn't.<br><br>In fact, in my opinion the index is probably heading lower when the prices of coal and iron ore crash again, and, as always, it's only a matter of time before the next 30 to 50 percent drawdown. So you'd better be prepared. </div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Why Australians invest in property

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<div>Property transaction volumes are reportedly declining in Sydney, and nationally.<br><br>There are about 9.75 million residential dwellings in Australia, but despite a record construction boom stock turnover has fallen to well below 3 per cent, and way below the historical averages.<br><br>There could be any number of reasons for this.<br><br>Like a property market Jim Bergerac, I took a look through this month's housing finance data angling for clues.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Reason 1 - Staying put!</span></strong></div>
<div> </div>
<div>We know that the ridiculous cost of stamp duty (and selling fees) is a discouraging factor for people wanting to move house in Sydney, the only real question is how much of a factor it actually is.<br><br>Sure, stamp has been around forever, but the bands were designed with old dwelling prices in mind, and only recently have duties become farcically high.</div>
<div> </div>
<div>Stamp duty receipts in New South Wales have more than doubled since June 2013 to $8.63 billion. </div>
<div> </div>
<div>In June 2013 the buyer of a median priced house in Sydney paid about $27,000 in stamp duty, mortgage fees, and transfer duties. Today, they'll pay nearly $45,000.</div>
<div> </div>
<div>That's a lot of capital growth required to justify the costs of moving house, so we'll arguably see a shift towards renovating and staying put (or buying cheap and renovating) just as we did at Sydney's previous cyclical peak in early 2004.</div>
<div> </div>
<div>In fact, that's already happened to some extent in Sydney, while renovations activity is rising steadily in Melbourne and Brisbane.</div>
<p><a href="/images/2016/11/14/b1.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/14/b1.jpg" alt=""></p>
<p> </p>
<div>People will campaign for higher or different types of property taxes, but it's hard to see it happening in NSW while this unprecedented windfall is enriching the state government.<br><br>The state's finances are in enormous nick - debt free and racking up big surpluses!</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Reason 2 - The trusty buy &amp; hold strategy</span></strong></div>
<div> </div>
<div>A structural change over the medium term has been the "asset lock in" associated with property investors, with the prevailing tax legislation more or less compelling investors to use interest only loans and play a longer term capital growth strategy.</div>
<div> </div>
<div><a href="/images/2016/11/14/B4.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2016/11/14/B4.jpg" alt=""></div>
<div> </div>
<div>Again, investors have been around forever, of course, but since the latest round of monetary easing from 2012 this cohort has become a more substantial force in the larger capitals. </div>
<div> </div>
<div>The recent reclassifications of the stock of outstanding credit from investors to owner-occupiers are all too convenient to be taken seriously.<br><br>In any case, there has still been a 300 per cent increase in outstanding investor credit since 2003. Buy, hold, and compound the capital gains.</div>
<p><strong><span style="text-decoration: underline;"><br></span></strong><strong><span style="text-decoration: underline;">Reason 3 - Offshore investors</span></strong></p>
<div> </div>
<div>What of the residential construction boom?<br><br>In Australia non-residents are generally restricted to the purchase of new dwellings, thereby encouraging new construction, and this is clearly working now interest rates have been dropped.</div>
<div> </div>
<div>The housing finance figures show that domestic owner-occupiers accounted for only 31,500 or so financed purchases of new dwellings over the year to September 2016. </div>
<p><a href="/images/2016/11/14/B2.jpg" target="_blank"> Click to enlarge</a></p>
<div class="separator"><img src="/images/2016/11/14/B2.jpg" alt=""></div>
<div class="separator"> </div>
<div>The numbers are up in the most of the larger capital cities, but not that much in the context of a record residential construction boom.</div>
<p> <a href="/images/2016/11/14/B3.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><img src="/images/2016/11/14/B3.jpg" alt=""></div>
<div> </div>
<div>So, who is buying the new stock? Downsizing cash buyers would account for a proportion of new dwelling sales, super funds, and investors sold new stock by 'white knight' middlemen or advisors some more. </div>
<div> </div>
<div>But a huge share would be non-resident buyers, particularly now from China.<br><br>This is also a new trend - FIRB approvals have tripled in only two years!</div>
<div> </div>
<div>The Chinese phenomenon in Australian property in particular is a relatively recent one, so nobody can say for certain what trends will play out, but intuitively it wouldn't be a surprise if most non-resident buyers are in for the long haul.</div>
<div> </div>
<div>Arguably a fair proportion of dwellings bought by non-residents don't even make it to the rental market, let alone become resales. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>Unfortunately - unlike in <em>Bergerac</em> where the culprit was invariably either one of lovable rogue Charlie Hungerford's mates or someone related to the glamorous jewel thief - there is no singular  explanation for why transaction levels are down.</div>
<div> </div>
<div>High transaction costs represent one valid argument. </div>
<div> </div>
<div>Perhaps most people wanting to move house in this cycle have already done so, and the line of willing sellers is becoming exhausted. </div>
<div> </div>
<div>Other prospective vendors may fear that if they sell they might never get into the market as prices levitate away from them, for despite a thousand warnings prices are again forecast to rise strongly in Sydney, Melbourne, and Brisbane in 2017 (and with listings down, there are fewer homes to pick from). </div>
<div> </div>
<div>Certainly with so much hype around, lots of vendors may just decide that the easiest option is to do nothing.</div>
<div> </div>
<div>And finally, arguably a higher proportion of owners and investors are simply using real estate as a long term inflation hedge, due to rising land prices. </div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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3 reasons why property sales volumes are declining: Pete Wargent

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<p> Get the good oil from SQM Research's annual Boom &amp; Bust report.</p>
<p>"As the table below reveals, SQM Research forecasts an acceleration of dwelling price, with Sydney dwelling prices forecast to rise 11 percent to 16 percent for the 2017 calendar year," the report states.</p>
<p>"The capital city average forecast is for dwelling prices to rise 6 percent to 10 percent."</p>
<p> Click to enlarge</p>
<p><img src="/images/2016/11/17/unnamed.png" alt=""></p>
<div id="post-body-5805612569881147300" class="post-body entry-content">
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<div><span style="text-decoration: underline;"><em>Source: SQM Research</em></span></div>
<div> </div>
<div>SQM has an impressive track record being more right than the rest, even when going against consensus.</div>
<div> </div>
<div>Purchase your copy of the detailed Boom &amp; Bust report <a href="https://www.sqmresearch.com.au/boombustreport.php" target="_blank">here</a>.</div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Where to for property prices in 2017?

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<p>Many of the Sydney residential markets are showing resilience – refusing to lie down – but the overwhelming weight of evidence is that the big price boom has run its course.</p>
<p>You will note my reluctance to speak about “the Sydney property market” as a single entity. The tendency by media (and many of the attention-seekers, like economists and publicity-obsessed research companies, who feed journalists misinformation) to distil market dynamics for a major city to a single growth figure is really unhelpful and often misleading. </p>
<p>The Sydney metro area, with over 700 suburbs, has many different markets. They’re not all moving as one. To describe Sydney house price movements as a single figure might satisfy a simplistic media but it tells no one anything useful. </p>
<p>My latest analysis of sales data reveals there are still a small number of Sydney suburbs with growth markets, a much larger number which I classify as “plateau” markets (have levelled off a little below the peak), a few that show notable consistency of sales over time, and a small but growing number that I categorise as “danger” markets.</p>
<p>That amounts to lots of different scenarios within the boundaries of the Greater Sydney Area. </p>
<p>If there is any commonality to be found, it’s that the volume of sales overall has dropped in 2016 and that most research sources are publishing data which confirms that the overall rate of price growth has dissipated considerably.</p>
<p>The other common feature is that many Sydney areas are hanging tough. Some of the key factors that drove the boom – the strength of the Sydney/NSW economy and the high level of spending on infrastructure – are still in place.</p>
<p>But some of the other influences – the absence of major growth in the decade pre-2013 and the relative affordability it created – has passed into history. There’s no way that strong level of price growth could continue beyond three years, because price becomes an issue for more and more people.</p>
<p>But a lot of Sydney markets are showing resilience – still making good sales and maintaining strong prices, just without the double-digit annual growth of the recent past. This is one of the reasons I’m not expecting any significant decline in Sydney markets in the near future.</p>
<p>But there are exceptions. There are now eight suburbs which I classify as danger markets. They’re all locations dominated by apartments and they’re places where sales rates have dropped markedly at a time when developers are still bringing lots of new supply to the market.</p>
<p>In some of those standout locations, like Parramatta, the rate of sale is a third of the levels of three years ago. Practitioners who claim Sydney can build unlimited numbers of new apartments because the city has a dwelling shortage are deluding themselves and others. There are specific markets in Sydney heading for major oversupply, regardless of the overall supply-demand situation for the metro area as a whole.</p>
<p>The areas showing the most solidity in the face of the overall decline in the market heat are headed by the City of Penrith. There’s still plenty of life in markets out in the far west – and this is typical of the Sydney places investors should consider to achieve growth in coming years.</p>
<p>Sydney’s property boom was caused by a number of core factors, including the overall strength of the NSW economy and the lengthy period without strong growth pre-2013.</p>
<p>But the biggest single factor for me is the high level of spending on infrastructure. Tens of billions of dollars are being invested and that’s generated economic activity and jobs, while improving the amenity and/or accessibility of locations. Transport and medical-educational facilities are the big ticket items.</p>
<p>So the way forward for investors in Sydney is to follow the infrastructure trail – and, in general terms, that means looking west where the second airport is being built, as well as new motorways and rail links.</p>
<p>Municipalities like Penrith, as well as Blacktown and Liverpool, are the most likely beneficiaries.</p>
<p>Buying property that lies in the path of progress has always been a core method of making money in real estate – and that’s one of the keys for investors contemplating the inevitable wind-down in markets in Sydney.</p>
<p class="Body"><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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terryryder-YECXbqmri2

Parramatta on list of eight danger property market suburbs: Terry Ryder

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<p>Huh, so much for the predicted 'disorderly rush for the exits'.</p>
<p>4.5 years of rising property prices later listing volumes and turnover rates have sunk to their lowest levels on record, as a percentage of total property stock. </p>
<p>Having executed its IPO, McGrath (ASX:MEA) provided the below chart as part of its Presentation to the 2016 Annual General Meeting.</p>
<div id="post-body-3609892557233707334" class="post-body entry-content">
<a href="/images/2016/11/25/MEA.jpg" target="_blank">Click to enlarge</a><br><div class="separator"><img src="/images/2016/11/25/MEA.jpg" alt=""></div>
<div class="separator"> </div>
<div class="separator"><span style="text-decoration: underline;"><em>Source: ASX: MEA</em></span></div>
<div class="separator"> </div>
<div class="separator">McGrath's diagnosis left little doubt as to the reason for this, being excessively high stamp duty costs.</div>
<div class="separator"> </div>
<div class="separator">It's a point I've visited here often before. </div>
<div class="separator"> </div>
<div class="separator">Stamp duty bands were designed with far, far lower dwelling prices in mind.</div>
<div class="separator"> </div>
<div class="separator">By consistently refusing to raise stamp duty and land transfer brackets authorities are effectively loading more and more up front tax on to property purchases (in addition to other taxes, such as rates and land taxes).</div>
<div class="separator"> </div>
<div class="separator">By effectively raising the stamp duty from a bit over 1 percent of the purchase price three decades ago to around 4 percent, the tax has gone from being a consequence or by-product of the transaction to an actual barrier. </div>
<div class="separator"> </div>
<div class="separator">No doubt the stamp duty windfall has been great for state governments and their overflowing coffers, particularly in New South Wales which has raised $8.6 billion in the last year alone and where we have net debt of less than zero for the first time ever. </div>
<div class="separator"> </div>
<div class="separator">Unfortunately, the high transactional cost of moving is predictably leading to 'asset lock in' and indirectly impacting labour force mobility.</div>
<div class="separator"> </div>
<div class="separator">Meanwhile investors remain wedded to their buy-and-hold strategies since if they choose to sell they get hit with capital gains tax (not that this stops unthinking 'think tanks' from campaigning for higher CGT). </div>
<div class="separator"> </div>
<div class="separator">As for non-residents, presumably some of them must sell but I've rarely come across it, probably because they purchase expensive new property and it can take years to break even on that type of stock with its inherent price premium (particularly now with the new levies on foreign buyers loaded on top of stamp duties, plus land taxes). </div>
<div class="separator"><strong><span style="text-decoration: underline;"> </span></strong></div>
<div class="separator"><strong><span style="text-decoration: underline;">Asset lock in</span></strong></div>
<div class="separator"> </div>
<div>Unsurprisingly capital city owners of houses now hold on to their houses for 10.7 years on average, way up from 6.7 years in 2005.</div>
<div> </div>
<div>Owners of apartments now hold for 9 years, well up from 5.9 years in 2005.</div>
<div> </div>
<div>The negative feedback look has become self-fulfilling, with so little stock available prospective capital city vendors are hesitant to list for fear of becoming locked out of rising markets. </div>
<div> </div>
<div>Due to low listing volumes, McGrath implied that we can expect to see low transaction volumes in FY17. </div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</div>
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Listings lowest on record says McGrath: Pete Wargent

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<p>It may be the biggest mistake property investors make: once they have bought something, they stop researching.</p>
<p>There’s a common mentality among real estate consumers that the need to stay informed disappears once you’ve fulfilled your buying criteria.</p>
<p>Prior to purchase, some (not all) will spend some time and/or money on research and advice. But they won’t make the same effort, or any effort, to stay informed beyond acquisition. </p>
<p>I recently hosted a webinar in which Melbourne buyers’ agent and author Miriam Sandkuhler was the guest presenter. One of the key points she impressed upon her audience was the importance of a regular review of your property portfolio and your overall goals and strategies.</p>
<p>Most Australians don’t do that. Set and forget seems to be the overriding philosophy. And many with that approach get caught in bad situations.</p>
<p>Hotspotting receives a lot of distress calls from investors who bought in locations where property values have fallen subsequently.</p>
<p>Sometimes they’ve bought in locations that were never going to perform. But often they’ve bought in an area that delivers growth initially, until something fundamental changes. That causes a downturn in the market – but investor owners often find out too late.</p>
<p>Queensland boom-bust industrial city Gladstone provides a case study. Five or six years ago, this looked like a good place to invest, with three gas projects worth a combined $60 billion (bringing tens of thousands of jobs) poised to start construction. And, for a couple of years, that promise was borne out by results. Rents and prices rose strongly.</p>
<p>But then big changes occurred in that market. One was that developers had flocked in large numbers to that market and too much new product was being built. The problem was exacerbated by the second fundamental shift, which was the decision by the resources companies to use primarily FIFO workforces with personnel staying in temporary accommodation camps, rather than buying or renting local dwellings.</p>
<p>We wrote extensively about the shift in that market and the likely consequences. The message was: stay out of that market – or, if you already own there, now might be a good time to sell before the market drops.</p>
<p>But many of those who had already bought in Gladstone had tuned out. They no longer had their finger on the pulse. By the time many owners realised the tide had turned against them, it was too late to sell without taking a loss.</p>
<p>Anyone who bought in coal-mining town Moranbah in the early part of the century would have enjoyed a decade of the most spectacular capital growth in Australian history. If they’d sold at any point before 2013, they would have made lots of money.</p>
<p>Then the market turned for reasons that are similar to those for Gladstone, with the added element of the big downturn in coal prices. What followed by the polar opposite of the previous spectacular growth. </p>
<p>Similar, though less dramatic, scenarios are being played out regularly in markets around Australia. Two or three years ago the middle-market suburbs on Brisbane’s northside were market leaders for sales activity and price growth. Small to medium sized developers saw an opportunity and suddenly these areas are awash with development of new units and townhouses. Vacancies have risen to unacceptable levels in some suburbs. </p>
<p>If you bought something in that precinct two years ago and then focused on other things, you’re probably not aware of the change in the market.</p>
<p>The message again and again is: you can’t stop the research process just because you’ve filled your current buying criteria. You need to stay up to date. And you need to conduct that regular review of your investment situation suggested by Miriam Sandkuhler.</p>
<p><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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Property price slides in mining towns Gladstone, Moranbah playing out around Australia

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<p>If online listings are any guide, the rental market in Sydney has been tightening lately, with fewer rentals being advertised across a high number of suburbs.</p>
<p>According to the REINSW inner Sydney vacancy rates were unchanged in August at 1.9 per cent, but middle ring Sydney tightened by 0.3 per cent to 1.6 percent, while outer Sydney's vacancy rate of 1.7 per cent was the lowest since November 2015.</p>
<p><a href="/images/2016/09/23/B1-1.jpg" target="_blank">Click to enlarge</a></p>
<div id="x_post-body-4479739622962738159" class="x_post-body x_entry-content">
<div class="x_separator"><img src="/images/2016/09/23/B1-1.jpg" alt=""></div>
<br><div>Smoothing the figures on a 4mMA basis to nip out a bit of the noise shows that Sydney vacancy rates have been fairly flat over the past year in the middle and outer ring, but are some way tighter in the inner suburbs.</div>
<div> </div>
<div><a href="/images/2016/09/23/B2-1.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="x_separator"><img src="/images/2016/09/23/B2-1.jpg" alt=""></div>
<div> </div>
<div>The vacancy rate in Newcastle has sneaked back up to 3 percent.</div>
<div> </div>
<div>The Tenants' Union (TU) Rent Tracker found that Sydney unit rents moved 5 percent higher over the past year, while house rents were 3 percent higher. </div>
<div> </div>
<div><a href="/images/2016/09/23/Rents1.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="x_separator"><img src="/images/2016/09/23/Rents1.jpg" alt=""></div>
<br><div>Rents have moved sharply higher in Randwick and Woollahra over the past year according to the TU, but regional areas have been found to be "much more stable".</div>
<div> </div>
<div>The TU believes that the CPI measures understate Sydney's rental price growth. Their long run data also shows Sydney rents rising much faster than inflation.</div>
<br><div class="x_separator"><a href="/images/2016/09/23/A4.jpg" target="_blank">Click to enlarge</a></div>
<div class="x_separator"><img src="/images/2016/09/23/A4.jpg" alt=""></div>
<div class="x_separator"> </div>
<div class="x_separator"><span>According to the TU over the last 20 years new rents have generally increased at an average of around 8 per cent across Sydney and 5 per cent across the rest of New South Wales.</span></div>
<div class="x_separator"><span> </span></div>
<div class="x_separator">
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Sydney vacancy rates tighten again

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<p>Adelaide now has the No.1 growth market among the eight state and territory capital cities.</p>
<p>While the former boom markets in Sydney and Melbourne have faded dramatically in 2016 (notwithstanding the dodgy data on auction clearance rates, which flatter to deceive), and Brisbane has lost some of its momentum, Adelaide has maintained its very steady performance.</p>
<p>My latest survey of sales activity for The Price Predictor Index shows that Adelaide leads the capital cities on the number of growth markets for the second consecutive survey. It has more suburbs with rising sales activity than all other cities, ahead of Melbourne and Brisbane. Adelaide is attracting growing attention from investors for its affordability and the value for money it offers compared to the bigger cities. </p>
<p>Using sales volumes as the yardstick, there are now very few growth markets left in Sydney. And my latest survey adds another element to the downturn story: there are now suburbs I have identified as “danger markets”, because of the pattern of sharp decline in the number of sales. These are primarily apartment markets, where sales levels are dropping at a time of increasing supply. This represents an obvious danger for buyers.</p>
<p>Brisbane has had elevated sales activity for the past 2-3 years, without delivering the level of overall price growth seen in Sydney and Melbourne. But now, like the two biggest cities, Brisbane markets are running out of steam. In the past three quarterly surveys, the number of suburbs with growing sales activity has decreased markedly. This replicates the pattern seen earlier in Sydney.</p>
<p>At the same time, some of the inner-city apartment suburbs are now classified as “danger markets” – sales rates are dropping at a time of increasing new supply. Investors need to be careful also about Brisbane Northside suburban markets, as vacancies are high in some suburbs.</p>
<p>But Adelaide continues to thrive. It started 2016 in solid fashion and has kept going.</p>
<p>Unlike the patterns we have seen recently in Sydney, Melbourne and Brisbane, where individual precincts have stood out as the market leaders, Adelaide has a broad geographical spread of LGAs with good numbers of growth markets. There are five municipalities which each have between four and six suburbs with rising sales trajectories likely to lead to price growth.</p>
<p>The No.1 municipality is the Port Adelaide Enfield LGA. This is one of the largest municipalities in Adelaide, covering the inner north and north-west of the city. Six suburbs in this LGA have rising markets, mostly suburbs with median house prices in the range from $390,000 to $520,000, which in Adelaide tends towards “middle market”. They include Broadview, Northgate, Clearview and Hillcrest.</p>
<p>Close behind is the downmarket Salisbury LGA in the far north of metropolitan Adelaide – it has five rising suburbs and seven with steady consistent sales rates. The suburb of Parafield Gardens has lifted sales from 53 to 63 to 75 in the past three quarters.</p>
<p>The City of Charles Sturt remains one of Adelaide’s solid middle-market areas with plenty of sales activity. The Charles Sturt LGA includes bayside suburbs west of the Adelaide CBD and has rising markets such as Flinders Park (median house price $530,000), Grange ($680,000), Henley Beach South ($735,000) and Seaton ($470,000).</p>
<p>The Marion and Onkaparinga municipalities both have four suburbs with rising sales activity. The Onkaparinga LGA in the far south of the Greater Adelaide area has been prominent in most of our quarterly surveys over the past two years and is one of South Australia’s leading precincts for population growth.</p>
<p>I’ve always regarded the Adelaide Hills as one of Australia’s most appealing Hill Change lifestyle areas. But while the Adelaide market generally has been rising for the past two years, the Hills haven’t stood out in terms of sales activity until 2016.</p>
<p>It’s taken time for the growth to ripple out to the metropolitan fringes. But now a number of the suburbs in the Mount Barker and Adelaide Hills LGAs are featuring with strong sales momentum, headed by the suburb of Mount Barker where sales rates have risen from around 70 per quarter to above 100.</p>
<p>Adelaide has always suffered from a lingering reputation as a place that lacks serious population growth or economic oomph. But it has more going for it than people realise – including a good level of spending on infrastructure – and above all else offers great value-for-money in its real estate, relative to the bigger cities.</p>
<p class="Body"><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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Adelaide claims top residential growth market

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<p>Looking at median selling prices over the past decade, the national median house price ten years ago was recorded at $330,000, while the median unit price was $310,000.</p>
<p>Ten years on, and the median selling prices are now $499,000 and $445,000 respectively.</p>
<p>What we’re seeing here is a selling price increase of 51 percent for houses over the decade and by 44 percent for units. Clearly, based on broad averages, in most areas of the country median prices have not doubled over the past decade.</p>
<p>Across individual capital cities the results diverge significantly, however none of the capital cities have seen the city-wide median house or unit prices double over the past decade. Prices have gone closest to doubling over the decade in Sydney, Melbourne and Darwin while in Perth and Hobart the total change for houses and units has been well below 50 percent.</p>
<p><a href="/images/2016/10/11/Screen%20Shot%202016-10-11%20at%208.27.01%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/11/Screen%20Shot%202016-10-11%20at%208.27.01%20AM.png" alt=""></p>
<p>A granular look at the housing market reveals 4,048 individual suburbs that had at least 10 house sales over the 12 months to both June 2006 and June 2016 and 1,665 suburbs that had at least 10 sales over both periods for units. Of the 4,048 suburbs nationally for houses, only 573 suburbs or 14% have seen the median selling price of a house double over the past decade. For units, only 159 of the 1,665 suburbs nationally, or 10 percent, have seen median prices of units double over the past decade.</p>
<p>A split of suburbs that have, and have not, seen median selling prices double over the past decade across each state and territory includes:</p>
<p>• Houses: NSW, Vic and NT are the only states and territories in which more than 10 percent of suburbs have seen prices double over the past 10 years.;</p>
<p>• Units: again only NSW, Vic and NT saw more than 10 percent of suburbs recording prices as doubling;</p>
<p>• Not one suburb in Tasmania has seen a doubling in median price over the past decade.</p>
<p><a href="/images/2016/10/06/Number%20of%20suburbs%201.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/06/Number%20of%20suburbs%201.jpg" alt=""></p>
<p>An overview of the capital growth performance for capital city suburbs over the past decade shows:</p>
<p>• For houses: Melbourne is the only city where half of the individual suburbs saw median selling prices double over the past decade while Sydney has also seen more than 40 percent of suburbs doubling in price. Darwin is the only other capital city where more than 10 percent of suburbs have seen selling prices of houses at least double over the past 10 years.</p>
<p>• For units: once again Sydney, Melbourne and Darwin are the only capital cities in which selling prices have more than doubled in at least 10 percent of suburbs.</p>
<p><a href="/images/2016/10/06/Number%20of%20suburbs%202.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/06/Number%20of%20suburbs%202.jpg" alt=""></p>
<p>A comparison of the two adjacent tables highlights just how much stronger price growth has been in the capital cities than across regional markets.</p>
<p>It also highlights just how much the strong growth over the decade has been tilted towards Sydney, Melbourne and Darwin. Of course, values are already declining in Darwin while they continue to rise in Sydney and Melbourne.</p>
<p>The next time you hear of property prices doubling every seven to ten years, although it can happen in certain areas, there are no guarantees.</p>
<p>The CoreLogic analysis highlights the importance of buying strategically; on average most properties have fallen well short of doubling their value over a decade. Using today’s data as an example, it highlights that far fewer owners have seen their real estate asset double in price over the past decade than those who have.</p>
<p>For those who have seen their property price double over the decade, they are most likely to be situated in Sydney, Melbourne or Darwin while in other capital cities and regional areas of the country the prospects of prices having doubled over this period are much lower.</p>
<p><em>Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.</em></p>
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