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

Joel Robinson

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

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

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

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

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

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

<html><body>
Quarterly net absorption across CBD office markets has hit the highest level since Q4 2007, according to recent findings from JLL Research.
JLL Research's Q3 2018 statistics on national office markets showed positive net absorption of 151,200 square metre over the quarter and 258,600 square metres over the 12 months to September 2018.
The national CBD office market vacancy rate compressed 9.1% in Q3 2018 a reduction of 1.8 percentage points over the year to September 2018.
“Labour force surveys show that corporate Australia is increasing headcount which has translated into positive leasing enquiry and activity,” stated JLL Head of Research, Australia, Andrew Ballantyne. 
"While Melbourne continues to be the standout performer, the leasing market upturn is more diverse with above trend net absorption in Canberra, Adelaide, Brisbane and Perth.”
<img src="https://www.urban.com.au/images/2018/10/11/JLL%20Graph%201.JPG" alt="">
The Melbourne CBD recorded 79,900 square metres of net absorption in Q3 2018 and 187,800 square metres over the 12 months to September 2018.
The Melbourne CBD vacancy rate tightened from 4.6% in Q2 2018 to 4.0% in Q3 2018 – the lowest level since Q2 2008.
Melbourne CBD prime gross effective rents increased by 1.1% over Q3 2018 and by 8.7% over the 12 months to September 2018.
“The Melbourne CBD office leasing market juggernaut continues to roll on. Melbourne is one of the world’s strongest performing cities and we continue to see a diverse range of industry sectors expanding their occupational footprint in the Melbourne CBD," JLL Head of Office Leasing, Australia, Tim O’Connor said.
“The Melbourne result was even more impressive as it included the relocation of the Victorian WorkCover Authority to a new premise in Geelong.
“The Melbourne CBD development pipeline will deliver new product over the next two years with 2020 expected to be the largest year for completions since 1991. However, the strength of the demand-side of the equation has led to a downward revision in the vacancy rate. We project 2020 vacancy will be in the 6% territory – well below equilibrium of 7% to 9% for the Melbourne CBD."
<img src="https://www.urban.com.au/images/2018/10/11/JLL%20Graph%202.JPG" alt="">
JLL Research found that the Sydney CBD recorded 8,800 square metres of net absorption over the 12 months to September 2018 and vacancy was 4.7%. Low vacancy continues to exert upward pressure on Sydney CBD rents. Prime gross effective rents increased by 0.8% over the quarter and by 10.1% over the 12 months to September 2018.
“Co-working operators are really ramping up their presence in the Sydney CBD. Two more WeWork facilities opened in Q3 and we are speaking with a number ofpotential new co-working operators. One of the challenges for new entrants is the lack of contiguous space in the Sydney CBD,” O’Connor said. 
The Brisbane CBD recorded 15,400 square metres of net absorption in Q3 2018 and vacancy tightened to 13.9%. Over the past 12 months, net absorption in the Brisbane CBD has totaled 39,600 square metres – 29% above the 40-year average of 30,600 square metres.
“The Brisbane CBD leasing market recovery is starting to gather momentum with prime grade vacancy (8.2%) tightening to the lowest level since Q412. The next phase of the Brisbane recovery will see a reduction in leasing incentives and an improvement in prime effective rents,” Ballantyne said.
The Perth CBD recorded net absorption of 17,600 square metres in Q3 2018 and 34,000 square metres over the 12 months to September 2018. Vacancy remains elevated (22.0%), but the spread between prime (18.0%) and secondary (28.1%) grade vacancy remains wide.
The Adelaide CBD recorded positive net absorption of 14,700 square metres in Q3 2018 and 23,200 square metres over the 12 months to September 2018. The quarterly net absorption in Adelaide was the strongest since Q408. Vacancy tightened to 13.7% with prime grade vacancy moving back into single digit territory (8.3%) in Q3 2018.
Ballantyne said defence, resources and professional services are growth sectors of the Adelaide CBD office market. The expansion of the defence sector and competition for skilled labour has led to organisations shifting operations into the CBD. BAE Systems moved into the CBD from Edinburgh Parks in Q3.
Canberra recorded net absorption of 35,700 square metres in Q3 and vacancy tightened to 11.6%. Low vacancy in the prime grade sector (6.2%) has resulted in rental growth with prime gross effective rents increasing by 3.7% over the 12 months to September 2018.
Ballantyne concluded by noting Brisbane, Perth and Adelaide will be the office markets to watch closely in 2019. Leasing enquiry and activity is positive, prime grade vacancy has tightened in Brisbane and Adelaide and we expect owners will start winding back incentives to a level more associated with current vacancy rates.
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Net absorption across CBD office markets reach their highest levels since 2007: JLL

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Creative agency Space Between has agreed to lease the two upper floors of the privately-owned classic style building in Fitzroy.
Space Between is jointly owned by former AFL and West Coast premiership player Tyson Stenglein and Dave Clarke.
Their business has agreed to lease the vacant two upper floors of 188-196 Gertrude Street in total of 432 sqm under a five year plus five year, plus five year option lease.
The deal negotiated by Gray Johnson agent Rory White will see the business pay a starting annual rental of $140,000 with fixed four percent annual increases.
The owner of the building will renovate and refresh the vacant office space to a high standard in conjunction with their tenant before they move in in January.
Website development business Love &amp; Money took a $132,500 per annum lease in the building last year, again through Gray Johnson, which at the time was considered to be a record rate for retail/commercial space in the street.
Rory White says that the 1880 period building retains many of its original features including timber floors, vaulted timber lined ceilings and exposed trusses.
“Over recent times Gertrude Street has become a hotspot for creative and high-tech businesses as well as being a key lifestyle precinct with numerous cafes, highly regarded restaurants like Ladro, Madam Cheong and Cutler &amp; Co as well as the Builders Arms Hotel being established in the street," White said.
"In particular it is a well-located building that provides the type of environment and location that is being increasingly sought by the new industries of today."
 
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Former AFL footballers' creative agency take Fitzroy lease

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Financial adviser Noel Whittaker says headlines about property booms can lure inexperienced buyers into traps.
He also wrote recently that headlines with doom and gloom scenarios can scare people from making a good decision to buy.
"So, if you are serious about investing in property, stop reading the headlines and set yourself a specific plan," advised Noel Whittaker, the author of Making Money Made Simple and numerous other books on personal finance.
"One day we are told that real estate is booming, the next day people like Steve Keen and Harry Dent are predicting falls of up to 40%.
"When a boom is on we are even subjected to articles telling us how much our home is increasing each day, often accompanied by comments that it’s a tax-free gain and worth more than we are earning.
"Of course, it’s all nonsense – capital gain is not something that is happening, it is something that has happened.
"And the sad reality is that a big capital gain last year is a red flag that next year may be very different."
Whittaker noted the principal is called regression to the mean.
"I am not at all troubled by the usual negative comments about property that are circulating at the moment. 
"Australia’s population is on track to reach 40 million within 35 years – this has to be positive for anybody who buys well-located, quality real estate today and hangs on to it for the long term."
He advised there is no such a thing as a single property market – not for Australia, not even for a single capital city – there are myriad property markets all doing their own thing.
"How can you compare a townhouse in Cairns with a mansion in Point Piper?
"All over Australia some markets may be rising, other markets may be falling, and some may be flat."
He also noted real estate figures are notoriously unreliable because they take no account of improvements by owners,
Whittaker advised the first task for prospective investors was to find out exactly what they could afford, which means talking to a lender or mortgage broker, and laying all your cards on the table.
"Then, having worked out your price bracket, you need to research areas where you can buy a property you like for the price you’re able to pay.
"Once you have established that you are in the running, take the time to research the market thoroughly so that you become an expert on the area.
"You do this by going to open houses, befriending local real estate agents, and reading everything you can about your preferred location.
"Then when you come across a genuine bargain you will know that you have struck a winner.
"Always keep in mind that the secret of success in real estate is to buy well, and then add value." 
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Noel Whittaker says if you want to invest in property, stop reading the news

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The Bellevue Hotel in Paddington has been bought by Royal Hotels, which is owned and operated by the highly regarded Malouf family.
Vendors for the sale of the Bellevue Hotel, WDS Hotels, had conducted an extensive renovation shortly following its acquisition of the popular hotel in 2014.
“We’ve enjoyed a successful four years of ownership at this great hotel, and following complete renovation and repositioning, formed a decision to focus on our existing portfolio which includes the Fortune of War Hotel, and in doing so to recycle the capital into another opportunity we’re considering,” commented WDS director Steven Speed to The Hotel Conversation.
Paddington, as a hospitality precinct, has proven popular with investors.
Andrew Jolliffe of HTL Property would not confirm the sale price paid.
The Pubtic website suggested around $6.5 million.
Built 1880, the elegant two-storey Bellevue sits on the corner of Hargrave Street and Windsor Lane.
It has gone through a succession of name owners, including John Singleton and Geoff Dixon’s Australian Pub Fund, with operations by Riversdale.
They subsequently sold it to Speed, and partner Peter Walker, in early 2014.
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Bellevue Hotel in Paddington sold off-market

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Melbourne’s Mornington Peninsula is emerging as a popular market for CBD investors, with the $5,435,000 sale of a retail property.
CBRE’s Melbourne Strip Retail Investments team, comprising Rorey James, Josh Rutman and Sandro Peluso, negotiated the sale process of 9-13a Main Street via an onsite auction, which attracted a crowd of more than 120.
The property was eventually sold to a Melbourne-based buyer, after attracting over 100 enquiries and offshore team engaging more than 60 foreign investors to the asset, James said.
The property, which comprises a 453 square metre building on a 936 square metre site, was offered at an initial bid of $4.1 million, where it rose quickly to above $5 million before being knocked down to a Melbourne investor for $5,435,000.
The sale result translating to a yield of just 3.5% and a building rate of approximately $12,000 per square metre.
The property comprises two separate titles and is occupied by five separate tenants, including three offices and two local restaurants, Afghan Marco Polo and the Brass Razu wine bar.
The sale of 9-13a Main Street marks CBRE’s sixth transaction on the Morning Peninsula this year, following the sale of two properties along Ocean Beach Road in Sorrento – a waterfront shop in Rye and a hobby farm in Red Hill.
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CBD investors seeking Mornington Peninsula retail property

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<div>EXPERT OBSERVER </div>
<div> </div>
<div>The latest available ABS figures show Australian capital city house and apartment prices 1.4 per cent below their December 2017 peak, albeit they've actually increased in Brisbane, Canberra, Adelaide, and Hobart. </div>
<div> </div>
<div class="separator"><img src="https://3.bp.blogspot.com/-Ya6Qb4aMVDo/W7zbQNm3zeI/AAAAAAAAsTE/y8JxatkGg3w13NZvQs7m5BCv0gMbGAgKQCLcBGAs/s640/A3.jpg" width="640" height="366" data-original-height="801" data-original-width="1394"></div>
 
<div>One market - Sydney - did experience a wild buying frenzy in the first quarter of 2017, forcing some (required) action from the regulator, since which time house prices have declined by 4 per cent and apartment prices 3 per cent on the ABS index, with further declines set to follow in H2 2018.</div>
<div> </div>
<div>I was an agog observer at some of those Q1 2017 Sydney auctions, and concluded at the time that the successful frenzied bidders could only be cash buyers or downsizers, as there's no way the bank vals could've passed otherwise. </div>
 
<div class="separator"><img src="https://1.bp.blogspot.com/-2ntZXNGLaWs/W7zbQJSQIGI/AAAAAAAAsTI/BZ1aa3jjXJMq3wxKbudU9W-oJmswhO2vwCLcBGAs/s640/A4.jpg" width="640" height="350" data-original-height="798" data-original-width="1459"></div>
 
<div>Very few leveraged buyers would've bought in that narrow window before the froth was blown off, then, but if there's a cohort that will feel the pain of the market responding the tighter lending standards signal it's off-the-plan buyers of new CBD apartments. </div>
<div>
 Although not overly familiar with Western Sydney I also witnessed some wild prices being paid for weatherboard renovators and fibro shacks, although all that seems to have calmed down now. </div>
<div> </div>
<div>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</div>
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Australian housing off the peaks: Pete Wargent

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Cecille Weldon believes that —within not too many years— you could well be trading on energy markets, the way people today trade shares, using dedicated apps to get higher prices for the energy you capture and store through your home’s solar and batteries. 
More importantly, she says there is a quiet revolution building in real estate that is starting to impact property value. When you’re ready to sell or rent a home, a new property appraisal will allow you to showcase how many “Liveability Features” the home has to make it more marketable. 
I worked with Weldon while I was CEO at LJ Hooker. In fact, I put her on that company’s Executive Leadership Team. Today, I talk to her about how the power of Liveability is changing the way we Australians live in our homes – and how much we pay to do so.
Challenged to think differently by a Famous Father
Weldon isn’t just any random visionary. She has vision in her genes.  
Cecille is daughter of famous Australian publisher and entrepreneur Kevin Weldon, whose publishing empire came to rank alongside big mining and manufacturing companies as one of the country’s 200 largest exporters. Kevin Weldon also helped found the International Lifesaving Federation and Earthwatch Australia. His latest venture “The Ripper Group” is behind the world’s first drone surf rescue. He received the Order of Australia from a grateful nation in 1994.
With this kind of father, it’s no surprise that Cecille Weldon started her first business while still in high school – manufacturing silkscreened shoulder bags for the travel industry. 
“I didn’t realize 16-year-olds weren’t supposed to call up marketing managers and ask for a meeting,” she told me. “Business was part of everyday conversation with Dad, and you felt compelled to act on your ideas, not just talk about them”
Changing the Way We Value Our Homes
By the time she joined LJ Hooker, Weldon was already a recognized brand expert and an innovative thinker. The company hired her to identify and qualify future brand opportunities and give its agents an advantage. But her work is now recognized on a national level. It stands to benefits every property owner, buyer and renter in Australia.
Back in 2010, Weldon identified the first signs of what is now recognized as a key factor in a new value proposition, enabling home owners and investors to unlock the hidden value in their homes and connect to an exciting new market in residential real estate. Fundamental to its success was specialist training for real estate professionals. She developed the 17 key features that have been proven to make a home more comfortable and affordable to live in. 
Under her guidance, agents trained in her new Liveability Real Estate Framework began helping vendors and investors highlight these 17 features in their property marketing. In many cases, this was delivering a new perceptions of value, creating the opportunity to achieve a higher price in a shorter time frame. That made everyone happy.
The <a href="https://liveability.com.au/">Centre for Liveability Real Estate</a> was established as it become clear that what Weldon had created at LJ Hooker was too big and important for just one agency. When CSIRO acquired it, Weldon joined with them to turn the framework into a nationally consistent independent platform empowering both consumers and the property industry to deliver better more trusted information about home’s Liveability Features at point of sale or rent.
Innovation Is More Powerful Than the Word Sustainability 
The 17 Liveability features that Weldon identified are:
1. Climate Zone of your city
2. Living Locally 
3. Orientation 
4. Cross-ventilation 
5. Zoning 
6. Insulation 
7. Density of Building Materials 
8. Windows 
9. Shading or Sun Control 
10. Efficient Heating and Cooling Devices 
11. Energy Efficient Lighting 
12. Efficient Hot Water System 
13. Solar Photovoltaic (PV) System 
14. Low Water Garden 
15. Water Efficiency Devices 
16. Rainwater Tanks 
17. Home Energy Rating
Many of these features are often associated with the idea of sustainability, but don’t tell that to Weldon.
“The word “sustainability” is paradoxically a barrier in this situation,” she said. “Liveability Features deliver a better home in every measure of the word – one that is healthy, efficient, comfortable, and affordable to run. And also one that has less of an impact on the environment. The word ‘sustainability’ limits our understanding of ALL the benefits available from these features, which are really just an aspect of good building design.”
Weldon points out that housing affordability and energy prices are two of Australia’s major preoccupations, but they are seldom looked at together. 
“They are actually two sides of the same affordability debate: afford to buy and afford to run,” Weldon says. “We all know you can have a cheap house that is really expensive to run. The costs of paying for your home and of paying to operate your home should be considered as the one measure of affordability in the value chain. That’s the only way you can accurately decide how much you can afford to pay for a property.”
At any open for inspection, Weldon says research shows that nine out of 10 people are wondering in the back of their minds how much the property is going to cost to run. 
“We’ve been tracking how many people ask to see a power bill when looking at a house. That’s a way of saying, ‘I want to know the running costs.’ The real estate industry with the right tools and training, can now be a catalyst to deliver better, more trusted information on a property’s true Liveability features.”
Advice to Vendors and Landlords
Weldon’s advice for vendors and landlords who want to get the most when they sell or rent their property is to make sure their agent has upskilled with this award winning Liveability Real Estate Specialist Training, so they can showcase your home’s verified Liveability Features in their marketing campaign. 
“You don’t want to feel like. ‘Why has my agent ignored all these other features I have invested in? I could have gotten a higher price,’” she says.
In any property that you own, Weldon says, over time you should focus your renovations on reducing running costs and increasing comfort and convenience. This is the new value opportunity for Australian property. It means that the renovation will deliver a more comfortable, healthy home that’s cheaper to run. This benefits you when you’re in the home and now you’ll be rewarded when you’re ready to sell the home.
You may even be able to get a government incentive to do so. Weldon says many state governments are working on the idea of tax relief to encourage investors to upgrade with some of these Liveability Features because many rental properties are too expensive to run. 
“If landlords don’t start upgrading things like the hot water system and heating and cooling devices, then their properties will struggle to maintain their rental value.
“Rising running costs are responsible for a significant share of rent defaults, higher vacancy rates, and shorter tenancies,” said Weldon. “On 7:30 Report a few months ago, a tenant said the bills were so high they had no alternative but to leave.”
Believe it or not, the two most cost-effective improvements you can make are not solar panels or rainwater tanks, even though they are the poster children for sustainability. 
“The features that give you the biggest bang for your buck and are easiest to do,” she told me, “are ceiling insulation and shading. The shading stops that sun from hitting the window in the first place. For most of Australia (except the Top End) the shading that matters is on the north and the east/west sides.
A Bright Future
 In our conversation, Weldon ticked off some of the changes she thinks are coming to the way we Australians live and invest in our homes.
There’s a new breed of real estate agent coming down the line with better, more relevant, and future focused property knowledge about what really matters.
Renovators are going to start to look “beyond the bling” when they’re creating their property wish list … bringing in these new Liveability Features to deliver health, comfort, and lifestyle with the assurance of ongoing affordability.
If you are an investor, Weldon says there some exciting opportunities for both you and your renter to benefit. Initiatives like <a href="https://www.suntenants.com/howitworks/">SunTenants</a> can help you purchase solar panels and how much you can increase your rent to help pay for the investment. This is matched by a 100% guarantee to the renter that the saving on their energy bill will always be more than the rent increase. 
“The running costs are absolutely going to impact property value,” said Weldon. “It won’t be long before your solar panels, battery, and electric car will all work together to keep your costs as low as possible. More and more homes will be energy positive – meaning they produce more energy than they consume. This will open a whole new opportunity to gain value from our homes.”
That will be good for you, your budget, and for Australia’s environment.
GEORG CHMIEL, the chairman of Juwai, a Chinese website for buyers of overseas property, was speaking to Cecille Weldon in his regular column giving insight into the leading minds of Australian property experts.
He has spoken with LJ Hooker agent Bill Malouf about the ins and out of the Sydney market, REINSW president Leanne Pilkington about women in real estate, developer Larry Kestelman about developing your first property, Harcourts boss Mike Green on real estate investment secrets and Ironfish chief Joseph Chou on investing in today's market. 
 
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Georg Chmiel talks with liveability guru Cecille Weldon about unlocking a home's hidden value 

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The retail market on the Sunshine Coast has generally reflected the overall retail markets of south-east Queensland over the past three year period, according to the latest Herron Todd White (HTW) commercial report.
The valuation firm took a look at the changing faces in the retail sector across the nation. 
"We have seen very strong yield compression for national tenant type holdings appealing to a larger regional style market," the report noted.
"We have also seen some investors begin to change their overall offer for stand alone holdings where appropriate and there’s been a re-positioning of some centres, primarily with a new focus towards food and entertainment offerings."
Several small neighbourhood centres in secondary overall locations have placed café-style tenants as primary tenants and have used these as the main draw to fill surrounding tenancies if the café tenant gets a strong following.
There has been a mix of hits and misses with this approach to date, which mainly fluctuates on the quality of the food tenant.
A former bulky goods type retail centre in Maroochydore opposite the southern entrance to Sunshine Plaza has also begun to reposition along the same lines, it noted.
"Recent placement of a health food supermarket, gym and two café-style operators has begun to change the dynamic of the centre, which had significant vacancies over the past three year period."
HTW noted the Ocean Street precinct had remained strong over the past two years, which is another area that has centred on a food and entertainment offering.
The Sunshine Plaza extension is also continuing which will add a David Jones and Big W to the overall offer.
The expansion will see the centre increase to 107,000 square metres with a further 100 specialties as well as a renovation of the existing facility and addition of 1,500 car parks.
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Café-style tenants becoming major drawcards for Sunshine Coast retail cenres: HTW

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FOREIGN BUYERS
The boom in Australian real estate sales to foreign investors has run its course, according to the NAB survey of property industry participants.
These results highlight a continuing decline in foreign buying activity resulting from policy changes in China on foreign investment outflows and tighter restrictions on foreign property buyers in Australia.
In Q3, there were fewer foreign buyers in the market for Australian property, with their market share falling to a seven-year low of 8.1% in new housing markets and a survey low 4.1% in established housing markets.
<img src="https://www.urban.com.au/images/2018/10/10/Foreign%20Buyers%203.JPG" alt="">
The share of sales to foreign buyers fell in all states except VIC where their share rose to 13.0% (11.7% in Q2), but still well below the record highs approaching 33% in late-2014.
The share of foreign buyers in NSW was unchanged at 7.5% but also well down from a high of 21.0% in Q1 2015.
The share of foreign buyers in QLD also fell to 6.2%, down from 22.8% in Q2, to its lowest level since mid-2014.
<img src="https://www.urban.com.au/images/2018/10/10/Foreign%20Buyers%201.JPG" alt="">
A similar trend is evident in established markets with the shares of sales to foreign buyers falling in all states.
Property professionals in VIC reported the highest share of buyers in established housing markets at 5.5%, followed by NSW (4.5%), WA (3.7% and QLD (3.7%).
Moreover, the share of foreign buyers has well fallen below survey average levels in all states.
<img src="https://www.urban.com.au/images/2018/10/10/Foreign%20Buyers%202.JPG" alt="">
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The boom in foreign property purchasers in Australia is over: NAB

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Woolworths Group Limited has sold its Woolworths Aveley shopping centre located in Western Australia for $26,925,000 to a private investor.
The sale of Woolworths Aveley represents the sharpest initial yield ever recorded for a neighbourhood shopping centre in Western Australia over $20 million, at 5.81%, claimed selling agents Cushman &amp; Wakefield.
Completed in 2016, Woolworths Aveley is a 4,919-square-metre centre with a near 100% occupancy rate, anchored by a full-line Woolworths supermarket with a 12 year lease term, BWS on a long-term lease, plus eight specialty stores, two kiosks, one ATM and a pad site medical centre.
The asset attracted strong levels of interest due to its location within an award-winning masterplanned residential community known as Vale Aveley, developed by Stockland.
The campaign attracted over 100 enquiries from local and off-shore investors with several offers received at the close of campaign. The terms of sale included an unconditional exchange with seven days due diligence period.
Neighbourhood shopping centres remain one of the most liquid asset classes, with 16 transactions completed during Q2 and Q3 2018 totalling more than $505 million.
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