<p>A full-scale Sky Homes prototype apartment for <a href="https://www.apartments.com.au/new-apartments/zeste-at-the-orchards-norwest-104-fairway-drive-norwest-nsw-2153">Zeste</a> has been opened by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>, offering buyers a look at the final residential release within The Orchards masterplan in <a href="https://www.apartments.com.au/developments/norwest-nsw-2153">Norwest</a>.</p>

<p>The prototype launch coincides with buyer demand for larger apartment living continuing across Sydney’s Hills District.</p>

<p>David Lee, Sales Manager, Apartment &amp; Mixed-Use Developments at Sekisui House Australia said it was evident from the preceding four stages at The Orchards that a large number of buyers were local owner occupiers or downsizers specifically looking for oversized apartments with additional living spaces.</p>

<p>“The majority of buyers prefer to touch, feel and physically sight a full-scale completed apartment, rather than imagining the living spaces from floor plans," Lee says.</p>

<p>"The prototype apartment provides greater clarity and buyer confidence. We expect this will increase sales momentum for Zeste and the Sky Homes in particular.”</p>

<p>[smartcode_project:default project_id=150510 project_image_fid=351878]</p>

<p>Positioned within Stage 5’s Zeste project, the Sky Homes form part of the final opportunity to purchase within the award-winning master-planned community, which will ultimately deliver approximately 1,300 apartments.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, Zeste comprises two residential buildings, Essence and Eden, providing 209 apartments surrounded by extensive landscaping, resort-style amenities and community spaces.</p>

<p>Ben Pomroy, Principal at Rothelowman said Zeste explores a reinvention of the traditional house, in the orchard, synthesising the nostalgic story of the orchard homestead of yesteryear with a contemporary aesthetic inspired by the landscape.</p>

<p>“Natural light and ventilation are key to the design, contributing to a higher quality of life at the human scale. Across all Rothelowman projects, our ethos of ‘a generous eye for life’ drives our consideration of the human experience as the central point of focus of our design process.”</p>

<p>Pomroy says a&nbsp;notable design element is the cathedral glass light boxes incorporated in the joinery, inspired by the idea of wandering the orchard homestead with a lantern in hand, something familiar and nostalgic.</p>

<p>"We took this narrative and gave it a contemporary twist that is both beautiful and functional, creating unique features that unify the kitchen and bathrooms design.”</p>

<p>[smartcode_project:default project_id=150510 project_image_fid=351874]</p>

<p>In addition to the two residential buildings, Zeste comprises a single-story community amenity pavilion nestled in the landscape between Essence and Eden.</p>

<p>“The communal pavilion is a distinctive feature designed to foster a deep sense of community, with nature at its heart," Pomroy added.</p>

<p>"Whether it is watching the football grand final or hosting a family BBQ, the pavilion is designed as a place where residents can create memorable moments with friends, family and neighbours.</p>

<p>Since launching Essence, the first building within Zeste, buyer demand has remained strong with more than 30 per cent of residences already sold. Sky Homes have accounted for nearly 40 per cent of all sales achieved since launch.</p>

<p>“Purchasers are responding positively to the oversized layouts, diverse apartment configurations and the vast range of community facilities that will be available at completion,”David Lee noted.</p>

<p>Zeste Sky Homes represent approximately 35 per cent of the entire Stage 5 offering and are available across both Essence and the yet-to-launch Eden building. Prices for the Sky Homes range from $1,135,000 with one car space through to $1,500,000 for two car spaces.</p>

<p>Apartments across the broader Zeste release start from approximately $715,000, with generous floorplans ranging from 59 to 144sqm. Select residences also feature integrated ‘Max’ spaces, designed to function as flexible areas for home offices, children’s playrooms or additional storage.</p>

<p>Zeste also continues Sekisui House Australia’s sustainability partnership with Altogether Group, delivering integrated water, power and data services alongside passive design initiatives including cross-ventilation, landscaping and water features.</p>

<p>Early purchasers are currently able to access a selection of premium upgrade options, with VIP buyers receiving one complimentary upgrade package. A 2.5 per cent deposit is available for a short time.</p>

<p>Sekisui recently commenced its pre-construction phase. They are expecting an early 2028 completion of Zeste.</p>

<p>[smartcode_project_cta:default project_id=150510]</p>


Joel Robinson

Zeste Sky Homes prototype opens as buyer demand surges for oversized apartment living

<p>Having recently announced its entry into the booming Gold Coast new apartment market with <a href="https://www.apartments.com.au/new-apartments/aere-chevron-island-18-20-mawarra-street-surfers-paradise-qld-4217">Aere Chevron Island</a>, developer Martello™ is offering generous stamp duty savings for buyers before June 30.</p>

<p>Martello™ says the incentive creates a more accessible entry into premium apartment living.</p>

<p>"While incentives in property are nothing new, today’s stamp duty contributions arrive at a particularly important moment," the developer says.</p>

<p>"Buyers are not only seeking quality homes and strong locations; they are also looking for smarter financial entry points. Reducing or offsetting stamp duty can represent tens of thousands of dollars in savings - funds that can instead be directed toward furnishing a home, reducing mortgage pressure, or simply providing peace of mind during the transition into ownership."</p>

<p>[smartcode_project:default project_id=143932 project_image_fid=367517]</p>

<p>Aere is one of the more boutique new developments on Chevron Island, with just 33 apartments across 18 storeys on Mawarra Street</p>

<p data-end="695" data-start="463">The developer has placed a strong emphasis on wellness, briefing architecture firm Raunik Design to embed this philosophy into the project.</p>

<p data-end="1094" data-start="697"><a href="https://www.apartments.com.au/developers/martello">Martello™</a>&nbsp;has positioned Aere as a continuation of its human-centric development approach, with a focus extending beyond amenity to the fundamentals of layout, natural light, and spatial planning.</p>

<p data-end="1094" data-start="697">[smartcode_project:default project_id=143932 project_image_fid=368446]</p>

<p data-end="1094" data-start="697">To bring a heightened level of confidence to the project, <a href="https://www.apartments.com.au/developers/martello">Martello™</a>&nbsp;has already appointed Promax Construction to build the tower. They are expected to start construction in the coming months.</p>

<p>Martello™ says that in any market cycle, confidence matters.</p>

<p>"Buyers who may have been waiting on the sidelines are now reassessing their timing as developers and vendors introduce meaningful incentives designed to support decision-making. For owner-occupiers, it creates an opportunity to secure a premium residence with reduced upfront costs. For investors, it can improve the overall acquisition equation at a time when rental demand remains exceptionally strong across many key markets."</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=143932 project_image_fid=367507]</p>

<p>Aere offers a mix of two-, three-, and four-bedroom apartments, the latter of which occupy half a flor. These layouts prioritise separation between living and sleeping zones, along with increased privacy and storage, features more commonly associated with detached housing than traditional apartment product.</p>

<p data-end="2059" data-start="1790">Aere’s private resident amenity spaces centre on wellness. A rooftop level will incorporate a heated swimming pool, sauna and spa, alongside a residents’ lounge, dining areas and barbecue spaces, while additional shared facilities throughout the building include a gym and yoga area.</p>

<p>[smartcode_project:default project_id=143932 project_image_fid=367515]</p>

<p>&nbsp;</p>

<p>"What we are seeing now is a market that rewards readiness," Martello added.</p>

<p>"Buyers who are informed, financially prepared, and willing to act decisively are finding opportunities that may not exist once conditions shift again. Incentives such as stamp duty contributions are typically limited in duration and allocation, particularly within tightly held developments where demand remains high.</p>

<p>&nbsp;</p>

<p><em>Offer available on selected residences at Aere Chevron Island only. Stamp duty contribution provided by the developer at settlement and cannot be exchanged for cash or combined with any other offer unless approved by the developer. Offer valid for contracts signed on or before 30 June 2026. The developer reserves the right to amend or withdraw the offer at any time without notice. Terms and conditions apply.</em></p>

<p><em>[smartcode_project_cta:default project_id=143932]</em></p>


Martello™ offers limited time stamp duty concessions at Aere Chevron Island

<p data-end="200" data-start="0">New development specialists Lachlan Cottee and Ben Dalgleish have unveiled their new development firm, Dalcott, following several successful projects delivered under the Pyco banner across the region.</p>

<p data-end="376" data-start="202">Pyco is currently delivering Atelier in nearby West End, Nouveau in Albion, and Onde at Kirra, its debut Gold Coast apartment development in the booming Kirra Beach precinct.</p>

<p data-end="583" data-is-last-node="" data-is-only-node="" data-start="378">Its first plans under the new Dalcott banner are in South Brisbane, which has been Brisbane’s most enquired-on suburb so far in 2026, while neighbouring West End has also continued to record strong demand.</p>

<p data-end="1091" data-start="626">The developer already has approval for an 11-storey building with 65 apartments on Browning Street, however has recently acquired the adjoining 910 sqm site at the rear, creating a combined 2,746 sqm footprint that will now allow for two 11-storey buildings with 92 large-scale apartments, a configuration Cottee and Dalgleish have focused on across their local portfolio.</p>

<p data-end="1244" data-start="1093">The project, known as <a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a>, will comprise 84 three-bedroom apartments, 16 of which will include an additional multipurpose room, and just eight two-bedroom residences.</p>

<p data-end="1383" data-start="1246">DAH Architecture has led the design of Marrone, which will include more than 330 sqm of communal open space and rooftop recreation areas.</p>

<p data-end="1383" data-start="1246"><img alt="Marrone" data-entity-type="file" data-entity-uuid="7eeea1a0-be23-47c8-80fb-3409428241fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-21%20at%209.36.38%E2%80%AFAM.png?VersionId=pZW7o.tB7oJovYCRIFSxrZbMr6QdpHy." /></p>

<p data-end="1473" data-start="1385">Cottee told Apartments.com.au the project reflects a gap in Brisbane’s apartment market.</p>

<p data-end="1571" data-start="1475">"It is an area we know well with Atelier, another development which focuses on large apartments, less than 300 metres away," Cottee says.</p>

<p data-end="1824" data-start="1573">"There's limited supply of large-scale apartments of this size in a single building in Brisbane. The majority of apartments in this category are in considerably smaller buildings, on the water, and are only really accessible to the deepest of pockets.</p>

<p data-end="1953" data-start="1826">"Marrone will offer the same size and scale, but with greater amenity and at a much more realistic price point for the market."</p>

<p data-end="2256" data-start="1955">The architectural approach reflects the continued evolution of South Brisbane’s higher-density residential character. Renders show a heavily landscaped façade composition with curved balconies, textured brickwork, deep recesses, and integrated planting aimed at softening the scale of the twin towers.</p>

<p data-end="2486" data-start="2258">The revised proposal builds on the design narrative established in the original scheme. In the earlier submission, Gatehouse Architects described the project as a continuation of Browning Street’s long-term urban transformation.</p>

<p data-end="2691" data-start="2488">“The proposal echoes the spirit of early developments like Watson Terrace (built in 1888), by contributing to the growth and diversification of the local population,” the original design statement noted.</p>

<p data-end="2918" data-start="2693">“Just as Watson Terrace played a role in the area’s early gentrification, this development continues that trajectory, delivering contemporary housing that addresses the evolving needs of South Brisbane’s expanding community.”</p>

<p data-end="3297" data-start="3024">The updated proposal, designed by DAH Architecture, spans a 2,746 sqm corner site with frontages to Browning and O’Connell Streets. The development will comprise two 11-storey residential buildings delivering 92 apartments, replacing the previously proposed 65-unit scheme.</p>

<p data-end="3673" data-start="3299">The apartment mix has shifted further toward larger owner-occupier residences, continuing Dalcott’s established strategy across South East Queensland. The plans include 68 three-bedroom apartments, 16 three-bedroom apartments with multipurpose rooms, and eight two-bedroom residences. Two basement levels will provide 142 car spaces, alongside bicycle parking for 115 bikes.</p>

<p data-end="3950" data-start="3675">The larger Marrone proposal arrives amid sustained redevelopment momentum across South Brisbane and the wider Kurilpa precinct, where developers are increasingly targeting owner-occupiers seeking larger apartments close to the CBD, cultural precincts, and riverfront amenity.</p>

<p data-end="4211" data-start="3952">The site sits within walking distance of South Bank, the Queensland Performing Arts Centre, Brisbane State High School, and several major transport connections, while nearby Fish Lane and West End continue to drive demand for higher-end inner-city apartments.</p>

<p data-end="4458" data-is-last-node="" data-is-only-node="" data-start="4213">Cottee is expecting Marrone to launch around August with Realm Projects.</p>


Exclusive: Dalcott doubles down on South Brisbane with twin-tower Marrone plans

<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:9894702f-d5ab-4186-930d-8f794421c3c4-0" data-turn-id-container="request-WEB:9894702f-d5ab-4186-930d-8f794421c3c4-0" dir="auto">
<p data-end="437" data-start="182"><a href="https://www.apartments.com.au/developers/doma-group">DOMA Group</a> has unveiled plans for Newcastle Quay, a major waterfront precinct set to reshape Newcastle’s harbourfront and further cement the city’s evolution into one of Australia’s fastest-growing urban destinations.</p>

<p data-end="707" data-start="439">Positioned on a prominent site within the Honeysuckle Precinct, Newcastle Quay will span both sides of Honeysuckle Drive, connecting directly to the Foreshore Promenade and sitting within walking distance of Newcastle Interchange.</p>

<p data-end="1068" data-start="709">The mixed-use precinct is planned to include around 1,000 apartments, more than 28,000 sqm of commercial office space, 6,000 sqm of retail, and a 180-room hotel anchored by a 500-seat conference and exhibition centre, a move expected to significantly lift Newcastle’s ability to attract major business and tourism events.</p>
</section>

<p><img alt="DOMA Group unveil Newcastle’s future with transformative Newcastle Quay Precinct" data-entity-type="file" data-entity-uuid="0642ca09-67cc-4920-8a7e-d18df9729b4e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/%3D.png?VersionId=CnDmZxQnOV5LN0ePu7jaFBXC9tPGTrWm" /></p>

<p data-end="1381" data-start="1070">The proposal builds on DOMA’s growing Newcastle pipeline, where the developer has already delivered 866 apartments and more than 19,000 sqm of commercial and retail space since entering the market in 2013. A further $2 billion pipeline is also in the works across the city.</p>

<p data-end="1756" data-start="1383">The masterplan and executive architecture are led by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, with building concepts developed alongside Stewart Architecture, Architecture AND and Curious Practice, and landscape design by <a href="https://www.apartments.com.au/landscape-architect/turf-design">Turf Design Studio</a>. More than 11,000 sqm of open space is planned, including a new waterfront park known as Honeysuckle Green, upgrades to Tree of Knowledge Park, and new pedestrian and cycling links throughout the precinct.</p>

<p data-end="2022" data-start="1758">At the centre of the development will be the heritage-listed Wickham School of Arts, which DOMA plans to reposition as the civic and cultural heart of the precinct through restaurants, bars, events and public gathering spaces.</p>

<p data-end="2254" data-start="2024">The broader vision is to create a genuine day-to-night precinct, blending residential, hospitality, retail, commercial and cultural uses in a way Newcastle has yet to experience at this scale.</p>

<p data-end="2407" data-start="2256">DOMA Group Managing Director Jure Domazet said the aim was to create a precinct that becomes synonymous with Newcastle itself.</p>

<p data-end="2644" data-start="2409">“Our vision is to create a precinct that not only delivers high-quality commercial, residential, and cultural spaces, but also defines Newcastle’s waterfront for generations to come,” Domazet said.</p>

<p data-end="2752" data-start="2646">DOMA’s Chris Farrington said the project would fundamentally change how Newcastle is perceived nationally.</p>

<p data-end="2868" data-start="2754">“Newcastle Quay is more than a waterfront precinct, it is a national announcement for this city,” Farrington said.</p>

<p data-end="3111" data-start="2870">“A world-class Conference and Exhibition Centre will open Newcastle and the Hunter Region to a national and international audience for the first time, delivering something this city has long deserved.”</p>

<p data-end="3360" data-is-last-node="" data-is-only-node="" data-start="3113">The project is expected to generate more than 4,000 full-time equivalent jobs and act as a major economic driver for the Hunter region through tourism, business events, hospitality and commercial investment.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>Minister for Planning and Public Spaces Paul Scully said the final parcel of harbourfront land will be a "true mixed-use precinct destination that includes housing, hospitality and entertainment, commercial spaces, retail, economic and social outcomes."</p>


DOMA Group unveils 1,000-apartment Newcastle Quay precinct

<p data-end="262" data-start="143">ASX-listed developer Stockland is continuing to ramp up its return to the apartment market.</p>

<p data-end="451" data-start="264">In late 2024, <a href="https://www.apartments.com.au/developers/stockland">Stockland</a> announced it would resume apartment development after a 13-year absence, launching with Stanton Place in Rosebery, a 144-apartment project now under construction.</p>

<p data-end="560" data-start="453">Last week, the developer unveiled plans alongside the NSW Government for a <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-nsw-gov-unveils-plans-for-3-300-home-waterloo-south-renewal">3,300-home precinct in Waterloo</a>.</p>

<p data-end="797" data-is-last-node="" data-is-only-node="" data-start="562">Now, Stockland has shifted its focus in St Leonards, lodging a State Significant Development Application (SSDA) to replace an approved 42-storey office tower with a 52-storey residential development comprising more than 500 apartments.</p>

<p><img alt="Stockland" data-entity-type="file" data-entity-uuid="8979095e-9072-432b-a7da-58b180cf994d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.36%E2%80%AFPM.png?VersionId=_jbRXYOafCSHjwsz.yQCNIymMyCj8zkF" /></p>

<p>An existing 14-storey commercial office building would make way for a 264.5-metre tower designed by <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>. The project would deliver 538 apartments, including 30 affordable housing units, alongside retail and commercial uses at the podium and ground plane.</p>

<p>It will rise from&nbsp;<a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">601 Pacific Highway</a>, a prominent 2,844 sqm triangular site adjoining Mitchell Plaza and fronting Pacific Highway.</p>

<p>The development is being pursued under the Housing Delivery Authority pathway after Stockland’s proposal was declared State Significant Development earlier this year.</p>

<p><img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="67f40f35-0458-47ab-80c0-a4e98a31838a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%201.png?VersionId=rxXe3njr.auuGDuiR0k42uI8Zr4K.gZA" /></p>

<p>The apartment mix includes 217 one-bedroom apartments, 191 two-bedroom apartments, 122 three-bedroom apartments, and eight four-bedroom residences. Six basement levels would accommodate 300 car spaces, bicycle parking, loading areas, and building services.</p>

<p>Bates Smart said the project has been shaped around a series of urban design principles intended to improve the pedestrian experience and respond to the evolving character of St Leonards.</p>

<p>“With a boundary length of almost 75m along Pacific Highway and 70m along Atchison Street to the north, complying simply with the LEP envelope and required setbacks would result in a very wide tower form on the skyline,” the architects noted in the Design Report.</p>

<p>“We propose breaking the tower form into two defined volumes rather than a singular form.”</p>

<p>The podium has similarly been articulated into separate forms to reduce perceived bulk and create a finer-grain response to Mitchell Plaza and Atchison Street. Retail tenancies would activate the lower levels, while commercial space is proposed across the podium floors.</p>

<p><img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="90149990-0551-40d2-bd48-14b69a015d12" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%202.png?VersionId=MJC2KIIWFvU9FPGr3IVq09gkRN_gX3m8" /></p>

<p>The design also places a significant emphasis on communal amenity and environmental performance. Residents would have access to landscaped terraces, wellness areas, flexible workspaces, and rooftop communal facilities, while the all-electric building is targeting an average 7-star NatHERS rating. Bates Smart said the project incorporates passive design measures including natural ventilation, integrated shading, and lightweight façade systems.</p>

<p>Planning documents note the site is around 350 metres from St Leonards Station and 400 metres from the metro entrance, placing it within one of Sydney’s most connected emerging residential precincts.</p>

<p>The project arrives amid a wave of large-scale redevelopment proposals reshaping the St Leonards and Crows Nest skyline. Several nearby sites have recently been approved, lodged, or declared under the Housing Delivery Authority pathway as the precinct absorbs significant residential density uplift tied to transit-oriented development policies.</p>

<p><img alt="Stockland" data-entity-type="file" data-entity-uuid="7805bd7c-dfd7-4b35-8e15-ec4a8bf8e61b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.26%E2%80%AFPM.png?VersionId=iY12K2m2bQ6EeDnshqfZC9rbLx_oEugP" /></p>

<p>Bates Smart’s report describes St Leonards as transitioning away from its historical commercial identity toward a more mixed-use urban environment.</p>

<p>“In recent years, the character of St Leonards has started to evolve, driven by new development trends along the Pacific Highway corridor,” the report said.</p>

<p>“These projects have increasingly focused on residential accommodation, marking a shift from its purely commercial roots.”</p>

<p>Sekisui House Australia is currently selling Waterstone down near Newlands Park, in a pocket being branded "St Leonards South." Hyecorp recently completed Audrey in the same pocket.</p>


First look: Stockland plans 52-storey, 538-apartment St Leonards tower

<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>Although commentary often tends to focus on the dollar value of loans written in the housing market (which in the case of Sydney have been going through the roof) the actual number of home loans being written in Australia on a monthly basis is still some way below the levels seen across 2006-8. </div>
<div> </div>
<div>In Sydney home loan volumes have even been tracking well below where they were in 2003 when the headount of the harbour city was considerably smaller, though the past two months of figures have recorded a big surge which is not yet fully reflected in the trend data. </div>
<div> </div>
<div>Looking at the high level figures the trend in home loan volumes has generally been up for the three most populous states since 2012, but transaction volumes can hardly be said to be high compared to where they have been in the past. </div>
<div> </div>
<div>Volumes have been trending down in Western Australia since July 2014, while the trend in the Northern Territory for want of a better word has "crashed" by a third since September and is threatening to soon take out the lowest levels seen in more than a decade. </div>
<div> </div>
<div>Home loan activity levels in South Australia are...flatlining. </div>
<div> </div>
<div><a href="/images/2015/09/15/HF1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/15/HF1.jpg" alt=""></div>
<div> </div>
<div><span>A similar pattern is also evident when looking at the below chart of home loans by property type, with home loans to purchase established properties in a multi-year uptrend but still not even close to previous heights.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/09/15/hf5.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/09/15/hf5.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div><strong><span style="text-decoration: underline;">Stamp</span></strong></div>
<div> </div>
<div>There are a number of reasons for these muted home loans volumes, not least the more significant market share of investors seen through this cycle in Sydney and Melbourne in particular.</div>
<br><span>I'll offer another: stamp duty.</span><br><br><div>With rising property prices already pushing the boundaries of detached housing affordability in Sydney and Melbourne close to breaking point, stamp duty - a levy which is ratcheted up as the purchase price increases - acts as a further disincentive to trade.</div>
<div> </div>
<div>This has long been an issue in London at the premium end of the market, where plainly ridiculous<a href="https://www.gov.uk/stamp-duty-land-tax/residential-property-rates" target="_blank"> </a>rates of stamp duty above GBP 925,000 absolutely discourage buying and selling, and instead encourage owners to sit on prime location sites for as long as they feasibly can. </div>
<div> </div>
<div>I can't speak for others, but certainly whenever I've written a stamp duty cheque to the OSR the last thing I am thinking of is subsequently selling a property, and indeed neither my wife nor I have ever sold a property in 19 years, in part for that very reason.</div>
<div> </div>
<div>While stamp duty can serve one useful purpose in making the market more stable and less attractive to "flippers", it also discourages labour market mobility and creates a royal pain in the tail for homeowners who are required relocate for work. </div>
<div> </div>
<div>Arguably both homeowners and investors are becoming more inclined to such buy and hold strategies while accepting that there will be inevitable market downturns, in part because the transaction costs are so punitive: buy, hold, and hold some more. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">First homebuyers</span></strong></div>
<div> </div>
<div>On a related note, the share of first homebuyers loans in the market has trended down to 15.4 per cent, which is at least a couple of full percentage points below what was seemingly becoming the norm before the financial crisis struck (whereupon market incentives led to an enormous spike in first homebuyer market share). </div>
<div> </div>
<div>We know that the data may be incompete, but affordability - and specifically the deposit hurdle - is playing an obvious role here too, nudging a proportion of first time buyers towards buying an investment property as a first step onto the housing ladder instead of a place of residence. </div>
<div> </div>
<div><a href="/images/2015/09/15/HF3.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/15/HF3.jpg" alt=""></div>
<div> </div>
<div>
<div>Stamp duty is a key consideration for first homebuyers or new market entrants too.</div>
<div> </div>
<div>It is often said or implied that first homebuyers should start with an entry level property and then look to trade up later, but with the average first homebuyer <strong>loan</strong> <strong>size </strong>now passing $340,000, new entrants to to the market must be seriously considering how many times in their lives they want to be trading property. I know that I would be. </div>
<div> </div>
<div><a href="/images/2015/09/15/HF4.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/15/HF4.jpg" alt=""></div>
<div> </div>
<div>
<strong><span style="text-decoration: underline;">Dwelling starts to peak in 2015</span></strong><br><br><div>A number of forecasts and indicators have suggested that dwelling starts could peak in 2015, and the new dwellings data does not contradict them, although with so many new builds being sold offshore to Asia through this cycle arguably this data series is a less useful indicator than it once was. </div>
<div> </div>
<div><a href="/images/2015/09/15/HF2.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/15/HF2.jpg" alt=""></div>
<div> </div>
<div>
<span>Construction loans written to owner-occupiers have also been trending down in recent months.</span><br><br><div>On the other hand the rise in property prices and associated equity gains has for some time been predicted to cause a renovations boom. Certainly this is what we witnessed through 2003 as the preceding Sydney market boom approached its peak. </div>
<br><div>There has already been a decent uplift in renovations activity in Sydney, but the "alts &amp; adds" figures to date have barely even hinted at much going on elsewhere. </div>
<div> </div>
<div><a href="/images/2015/09/15/HF6.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/09/15/HF6.jpg" alt=""></div>
<div> </div>
<div><span>Driving around Brisbane it certainly "feels" as though there is more renovation work underway, but this may just be good old anecdotal evidence giving a bum steer. </span></div>
<div><span> </span></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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</div>
</div>
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Property hot, but volumes not: Pete Wargent

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<p>It’s danger time for investors tempted to buy high-rise apartments on the Gold Coast. </p>
<p>There are few entities more skilled in the art of seduction than the Gold Coast propaganda machine. </p>
<p>What makes it doubly dangerous is that the Gold Coast can spin a pretty plausible story right now, as long as it ignores its appalling record on capital growth.</p>
<p>There’s the high level of spending on infrastructure. There’s the billions that corporations, both Australian and foreign, want to throw at casinos, resort hotels, cruise ship terminals and mega high-rise apartment blocks. There’s the marketing appeal of the 2018 Commonwealth Games.</p>
<p>Marketers can pull together some credible-sounding data which suggests that the oversupply of the past has been soaked up and that markets are growing again.</p>
<p>The marketing machine will have little trouble mounting a case that the market is beyond recovery and is rising rapidly. And there is no shortage of gun-for-hire companies purporting to be independent and willing to make a statistics-based case for the viability of all those new mega towers.</p>
<p>Last week a report claiming the Gold Coast will need another 133 apartment towers just to cope with the impending population boom got widespread media coverage. It’s amazing how readily media will take a piece of crystal-ball-gazing and turn it into fact for consumption by a gullible public.<span style="line-height: 1.3em;"> </span></p>
<p>A bullish and self-serving forecast was converted into a statement that the population <span>will</span> jump 76% in the next 20 years. And “many of those people <span>will</span> need to be housed in high-rise apartments” and the population growth <span>will</span> “mean demand for 156,000 new dwellings to cope with the influx”.</p>
<p>I wonder how many investors will pause to consider the outcome if those predictions are wide of the mark. Population projections are never accurate. Even in the short periods between the official census counts, government and private sector population estimates are shown to be faulty, and sometimes wildly inaccurate.</p>
<p>Property investors are essentially herd animals and the impulse to follow the pack as it starts to stampede towards the latest Gold Coast mirage will be irresistible for many. The FOMO Syndrome will drive too many to pay too much for generic high-rise dwellings in an oversupplied market and spend the next five to ten years regretting it.</p>
<p>It’s all happened many times before on the Gold Coast. But investors seldom learn the lessons of history, in some cases because they are blissfully ignorant of it.</p>
<p>They need to know that the Gold Coast has not yet fully emerged from the most recent glut of high-rise apartments, one that has taken six years to absorb. In that time property values have gone backwards in all the major high-rise suburbs – and are still in reverse.</p>
<p>Two major research sources – Australian Property Monitors and the Real Estate Institute of Queensland – confirm that the median prices for apartments Surfers Paradise, Main Beach, Broadbeach and Southport remain significantly lower than they were five years ago.</p>
<p>And prices are still falling. In the past 12 months, prices have fallen further in Surfers Paradise (down 2.9%), Main Beach (down 4.1%) and Southport (down 4.3%). </p>
<p>In the cases of both Surfers Paradise and Broadbeach, apartments are worth less today than they were in 2005. For both Main Beach and Southport, prices are still at the same levels as 10 years ago. The investors who bought in these locations a decade ago have had no capital growth at all. How many markets can you say that about?</p>
<p>In Surfers Paradise, prices fell in the past three months, the past 12 months ago, the past three years, the past five years and the past 10 years. Not a single growth figure to be found. Of all the big-name markets around Australia, perhaps only Noosa on the Sunshine Coast is a bigger dud.<span style="line-height: 1.3em;"> </span></p>
<p>Those who bought in the Gold Coast high-rise markets five years ago have lost a lot of money. In Main Beach, the median unit price has dropped from $652,000 in 2010 to $561,000 today. The average punter is $91,000 worse off. There are similar results for Surfers Paradise, Broadbeach and Southport.</p>
<p>And it’s all about to happen all over again. Only this time, the outcomes will be worse, because the towers being built are larger and more numerous.</p>
<p>For investors who are susceptible to a strong marketing pitch, it’s time to be afraid, be very afraid.</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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Beware the Gold Coast propaganda machine: Terry Ryder

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<p>A private investor has paid $1.83 million at auction for a childcare centre in the Melbourne suburb of Thornbury.</p>
<p>The site, 200 Smith Street, was sold <span style="line-height: 1.3em;">fully-leased on a ten year term at a current annual rental of $71,461.</span></p>
<p><span style="line-height: 1.3em;">Savills’ Julian Heatheric </span><span style="line-height: 1.3em;">said the 1190 square metre landholding with CBD views has a prized inner-northern suburban location and also offered significant future development potential.</span></p>
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Thornbury childcare centre sells for $1.83 million

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<p>Some 27 retail strip properties have sold for a total value of $60.098 million in the last three months in Melbourne's inner-east region, driven from the sub $5 million commercial investment market.</p>
<p>Teska Carson executive, Matthew Feld said buyers had paid $300,000 to $500,000 over reserve for property within the area, with one buyer, an off-shore fund, paying $3.4 million - more than $600,000 over reserve - on a very skinny 2.9% yield for a fully leased retail property on Lonsdale Street.</p>
<p><span style="line-height: 1.3em;">"In the latest (unreported) auctions a Hong Kong based private investor has paid $4.8 million on a tight 4.35% yield for a retail and office investment at  669-671 Glenferrie Road, Hawthorn, while an owner-occupier paid $1.07 million to fight off investors for a stand-alone retail/commercial property at 335 Swan Street, Richmond," he said.</span></p>
<p><span style="line-height: 1.3em;">"There are a combination of factors at work here but the key drivers have been the increase in competition from the sheer rise in numbers of investors – including a significant uptick in numbers of overseas and SMSF investors over this time last year - and also the current lack of quality stock."</span></p>
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Sub $5 million commercial market strong in Melbourne

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<p><span>So far this week, 2,127 capital city auction results have been reported to CoreLogic RP Data, resulting in a preliminary auction clearance rate of 72.1% across the combined capital cities. </span></p>
<p><span>There were a total of 2,615 capital city auctions held this week. This week’s result indicates that clearance rates are no longer tracking higher than they were one year ago, when the final auction clearance rate over the week was 72.3% across 2,080 auctions. Over the previous week there were 2,297 auctions with a clearance rate of 73.2%.</span></p>
<p><a href="/images/2015/09/14/20150914-Capital-city.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Capital-city.jpg" alt="" width="840" height="635"></span></p>
<p> </p>
<p><span>In </span><strong>Melbourne</strong><span>, Australia’s largest auction market, a preliminary auction clearance rate of 73.7% was recorded across 1,181 auctions this week. Last week, Melbourne’s final clearance rate was recorded at 75.1% across 992 auctions, while this time last year, 1,018 properties were taken to auction across Melbourne and a clearance rate of 73.4% was recorded. The busiest Melbourne sub-regions this week were Melbourne’s Inner region and the Inner South region, where 248 and 210 auctions were held respectively. Across these two sub-regions, the preliminary clearance rates were 71.2% across the Inner region and 71.8 per cent across the Inner South.</span></p>
<p><a href="/images/2015/09/14/20150914-Melbourne.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Melbourne.jpg" alt="" width="817" height="545"></span></p>
<p> </p>
<p><strong>Sydney’s</strong><span> preliminary auction clearance rate was 75.1% this week, the 10th week in a row where Sydney has recorded a result below 80%. Last week, Sydney’s clearance rate was 76.9%, while one year ago, results show that 78.4% of Sydney homes taken to auction were successful. In terms of the number of auctions across the city, this week volumes were higher, up to 1,046 from 1,023 last week. One year ago just 743 Sydney homes were taken to auction over the week. The Northern Beaches sub-region of Sydney has shown the strongest performance so far this week, with 84.4% of the 45 reported results selling, with 18 remaining results yet to be collected.</span></p>
<p><a href="/images/2015/09/14/20150914-Sydney.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Sydney.jpg" alt="" width="828" height="561"></span></p>
<p> </p>
<p><strong>Brisbane’s</strong><span> preliminary clearance rate this week was 54.9%, up from 42.9 per cent last week. There were 178 Brisbane auctions this week, compared to 130 last week. The </span><strong>Gold</strong><span> </span><strong>Coast</strong><span> was host to 73 auctions this week. Based on the results reported to CoreLogic RP Data so far, 46.5% have been sold.</span></p>
<p><a href="/images/2015/09/14/20150914-Brisbane.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Brisbane.jpg" alt="" width="808" height="548"></span></p>
<p> </p>
<p><span>This week, </span><strong>Adelaide</strong><span> saw a preliminary clearance rate of 62.0%, with 71 reported results across a total of 88 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 69.5% and 64.3% one year ago.</span></p>
<p><a href="/images/2015/09/14/20150914-Adelaide.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Adelaide.jpg" alt="" width="799" height="536"></span></p>
<p> </p>
<p>There were 35 <strong>Perth</strong> auctions this week and so far 13 results have been reported, with 61.5% selling. Last week there was a 36%clearance rate for Perth.</p>
<p>Across <strong>Canberra</strong> a total of 79 auctions were held this week, compared to 52 last week and 51 at the same time last year. Canberra’s preliminary clearance rate of 63.6% is lower than it was the previous week (71.7%).</p>
<p>In <strong>Tasmania</strong>, 5 auctions were reported to CoreLogic RP Data with 4 sales. Last week, 5 auctions were reported with only 1 sale.</p>
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Auction volumes rise to 2,615 across capital cities: CoreLogic RP Data's Shana Miller

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<div>
<em>CoreLogic-RP Data</em> reported a preliminary auction clearance rate of 75.1% for Sydney on Saturday with more than 1,000 auctions held over the week.</div>
<div> </div>
<div>APRA's cooling measures will hit lower socio-demographic areas first as lower income earners struggle with the deposit hurdle.</div>
<div> </div>
<div>The first region to go in Sydney will be the south west, and to a lesser extent the west.</div>
<div> </div>
<div>On the other hand the traditionally wealthier suburbs of the lower north shore, the eastern suburbs, and the inner west are poised to hold up much better. </div>
<div> </div>
<div>Unsurprisingly further research from the Domain Group showed that auction clearance rates held up to track at exceptionally high levels in the inner west (82.8 per cent), the lower north shore (82.3%), the northern beaches (79.6%) and the city &amp; east region (77.9%).</div>
<div> </div>
<div>On the other hand over the past two weeks auction clearance rates have tanked in the west (from 76.9% to just 66.3%), and particularly in the south west (from 69.8% to just 54.9%.</div>
<div> </div>
<div><a href="/images/2015/09/14/Auctions.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/14/Auctions.jpg" alt=""></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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APRA measures to hit lower income suburbs: Pete Wargent

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<p>Some of you may remember a television advertisement that appeared many years ago that went like this – “So you think you’re a good driver? Try this quick quiz.”</p>
<p>In many ways this applies to the real estate industry and what some of us apply to working out just where our markets are headed. Just like a motor vehicle we constantly check the fuel gauge to see how much fuel is in the tank.</p>
<p>You can’t rely on many of the commentators given at best their analysis is weak and lacks clarity and confirmation, given a large proportion is at best guess work. So how do some real estate agents try to better understand how and where the market is headed? Simply we go straight to a major information data source that being the dominant home loan companies who finance the property markets.</p>
<p>This week, I spoke with Alex Nochar who is Managing Director of Shore Financial who are one of the biggest lenders in our market demographic. First question – how many millions of dollars of housing loans do you presently have on your books that are pre – approved and actively looking to buy? The answer just over $270 million. Second question – what is the pre – approved value for Mosman and the adjoining areas? That number is just over $80 million.</p>
<p>That does not include the many applications that are awaiting approval and being processed although what we do take from this is that this is just one individual lender and does not include the big banks and or private banks. We will be attempting in coming weeks to find out just how many millions of dollars there are in pre – approved loans for Mosman real estate.</p>
<p>This tells us that there is still plenty of growth in our markets although it is quite surprising that one never hears of this method of better understanding our property markets. Can you imagine what the figure would be for the total Sydney area and how interesting this would be if the total numbers for each real estate demographic market were published on a weekly basis?</p>
<p>There is no clear patterns emerging across Sydney given some are experiencing strong stock levels and many others weak stock levels. For example, over the last four years we are seeing housing stock numbers declining in Mosman. This week there are 56 houses on the market, this time last years there were 65 houses on the market, the same week in 2013 there were 77 houses on the market and the same week in 2012 there were 120 houses on the market. In 2012 Mosman recorded 33 weeks with more than one hundred houses on the market. In 2015 it is looking like we won’t crack one hundred houses on the market once – the highest number this year so far has been 84 back in March.</p>
<p>With interest we should be watching the stock market in China which has lost approximately 40 per cent in the last three months, where when we see stock market corrections money is then diverted into real estate. The latest Foreign Investment Review Board (FIRB) annual report showed that the total value of investment proposals in 2013/14 soared to $167.4 billion which is an increase of 23.4 per cent. No surprises to note that China is now the biggest player foreign based buyer of Australian real estate with foreign investment in commercial and residential real estate doubling from $37.5 billion to $74.6 billion.</p>
<p>Recently a research paper was released that Chinese purchases totaled just 2 per cent of all transactions in 2014 according to data from the FIRB. Well that’s interesting although the real story is what the Australian Taxation Office reveals once they have completed their forensic investigation into illegal overseas acquisitions. Those who acquired property illegally have until 1 November 2015 to come forward and avoid prosecution. It will be very interesting to see how many are prosecuted and the numbers of apartments and houses that come back onto the market. I’m predicting that this number will be significant and illegal purchases will be much higher than first envisaged. Watch this space!</p>
<p>I wouldn’t be overly concerned with the recent use of that ‘recession’ word given it’s hard to see this happening anytime soon. We know that to technically be in recession the next two quarters in real GDP will need to return two quarters of negative growth in GDP. The next quarter’s GDP results are out on December 2 and the next on March 2 – so let’s wait until then before we start using that “R” word.</p>
<h5>MOSMAN – 2088</h5>
<p>• Number of houses on the market this time last year – 65</p>
<p>• Number of houses on the market last week – 66</p>
<p>• Number of houses on the market this week – 56</p>
<p>• Number of apartments on the market this time last year – 47</p>
<p>• Number of apartments on the market last week – 47</p>
<p>• Number of apartments on the market this week – 49</p>
<h5>CREMORNE – 2090</h5>
<p>• Number of houses on the market this time last year –10</p>
<p>• Number of houses on the market last week – 4</p>
<p>• Number of houses on the market this week – 6</p>
<p>• Number of apartments on the market this time last year – 15</p>
<p>• Number of apartments on the market last week – 19</p>
<p>• Number of apartments on the market this week – 20</p>
<h5>NEUTRAL BAY – 2089</h5>
<p>• Number of houses on the market this time last year – 7</p>
<p>• Number of houses on the market last week – 5</p>
<p>•Number of houses on the market this week – 2</p>
<p>• Number of apartments on the market this time last year– 33</p>
<p>• Number of apartments on the market last week – 35</p>
<p>• Number of apartments on the market this week – 37</p>
<p> </p>
<p><em><span>ROBERT SIMEON</span> is a director of </em><em><a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> </em><em>and has been selling residential real estate in Sydney since 1985. <br>He has also been writing real estate blog </em><em><a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> </em><em>since 2000. </em></p>
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Property markets need more truth, less dare: Robert Simeon

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<p><span style="line-height: 1.3em;">With each property development we manage, we'll fine tune the process so that on the next one, we'll do something a little differently to improve the results. </span></p>
<p><span>After completing over 80 developments, our process has become pretty refined. But there is always something we can improve on. </span></p>
<p><span>Sometimes they are just small tweaks that can make a massive difference. This particular example I'll share with you shaved literally a month off the planning process.</span></p>
<p><span>At Property Bloom we work across a number of different councils and each council has their own way of looking at and processing a Development Application (DA). It can be easy to make assumptions based on past experience. </span></p>
<p><span>So when we started working in a new location that fell under a council we'd not yet worked with, we assumed they'd review our plans in the same fashion as the other councils. The first few DAs (all assigned to different town planners) were processed within about 7-8 weeks on average. This is a lot longer than we liked but still not as bad as another council's processing times. It fell somewhere in the middle of our best and worst processing times. </span></p>
<p><span>The time your DA is in council is dead time, there is not too much you can do whilst you wait for the consent in case changes need to be made. We tend to use this period to choose material and colours.</span></p>
<p><span>Even after working with some councils for ten years, it will come down to the individual town planner who is assessing your DA and what they like to see marked on your plans. If they request 'more Information' then your DA is put on hold until they receive a response.  </span></p>
<p><span>This particular DA was assigned to a planner we'd not yet worked with at this council. We received a letter requesting more information on off street parking locations. The plans detailed a single garage for each villa. The requirements are to provide two parking spaces. Obviously one is in the garage - but here's where our assumption kicked in -  we thought the planner could 'see' that the second space was on the driveway as a stacked or tandem parking space.  </span></p>
<p><span>We quickly marked this on the plan and immediately sent it to the planner, and within three days we had the DA Consent on our desk. This set a record of processing time with this council - four weeks, down from eight weeks. </span></p>
<p><span>It goes without saying that this was added to our list of what to include on the plans and we made a mental note never to assume. We are now a month ahead of schedule and our client is happy to save time and holding costs.</span></p>
<p><span><em>Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.</em></span></p>
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jochivers-wq5Bp59R5a

Drop assumptions and save time on your planning process: Jo Chivers

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<div>The ABS released its Labour Force data for August 2015, which came in somewhat better than had been expected. </div>
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<div>The market had feared material downward revisions to employment figures following amendments to population growth assumptions, but happily in the event the impact was fairly benign.</div>
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<div>It is nevertheless worth looking at the revised data in the long run employment chart below to show the new shape of the chart...which is to say, essentially very similar.</div>
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<div>Total employment was revised down, but over the year total employment still increased by +235,000 or +2.0% (up from +1.8% in the year to July), an impressive headline figure and the strongest annual increase in the seasonally adjusted data series since April 2011.</div>
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<div>Handily this rate of employment growth is now far ahead of the rate of population growth, which following the latest Arrivals &amp; Departures (see link for more) figures I now estimate to be tracking at only around +1.3%.</div>
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<div><a href="/images/2015/09/11/A1.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/09/11/A1.jpg" alt=""></div>
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<div><span>Employment rose by +17,400 in August following an upwardly revised gain in employment of +39,200 in August, which is a fine result in the circumstances and well ahead of market expectations of +5,000.</span></div>
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<div><a href="/images/2015/09/11/LF3.jpg" target="_blank"><span>Click to enlarge</span></a></div>
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<div><span><img src="/images/2015/09/11/LF3.jpg" alt=""></span></div>
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<div><span>Full time jobs accounted for most of the monthly gains, and over the past year there have been more full time jobs created (+130,700) than part time positions (+104,200) - although as you can see below part time employment is taking a more significant role in the labour force than it once did. </span></div>
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<div><a href="/images/2015/09/11/A4.jpg" target="_blank"><span>Click to enlarge</span></a></div>
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<div><span><img src="/images/2015/09/11/A4.jpg" alt=""></span></div>
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<div class="separator"><strong><span style="text-decoration: underline;">State versus state...&amp; the unemployment rate</span></strong></div>
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<div class="separator">The net employment gains in August were mainly accounted for by Queensland (+11,200) and New South Wales (+9,200), with the New South Wales economy adding a thunderous +118,800 jobs over the past year, more than half of the total for Australia, and overwhelmingly full time positions.</div>
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<div class="separator">Victoria (+63,000), Western Australia (+22,100) and Queensland (+20,700) also added net employment over the past year, but South Australia has gone backwards over the same time period. </div>
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<div class="separator"><a href="/images/2015/09/11/A5.jpg" target="_blank">Click to enlarge</a></div>
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<div class="separator"><img src="/images/2015/09/11/A5.jpg" alt=""></div>
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<span>I have been warning here for at least a couple of years now that the longer this ugly dynamic continues and without a kickstart for the local economy the greater the fallout could be in terms of South Australian unemployment. </span><br><span><br></span><span>Amazingly there were more full time employed persons in Q4 2007 in South Australia than there are today. </span><br><span><br></span><span>The below graphic shows that while the New South Wales economy has added a stonking +267,200 jobs over the past five years, the two southern states combined have added essentially none. </span>
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<div class="separator"><a href="/images/2015/09/11/A2.jpg" target="_blank"><span>Click to enlarge</span></a></div>
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<div class="separator"><span><img src="/images/2015/09/11/A2.jpg" alt=""></span></div>
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<div>That said, with the depreciating dollar the outlook for Tasmania has improved considerably over the past 18 months, and without sigificant population growth to be absorbed the trend unemployment rate in the Apple Isle has declined from a peak of 8.1 per cent in August 2013 to just 6.5 per cent today.<br><br>That's great to see.</div>
<div> </div>
<div>Unfortunately the same cannot be said for South Australia where the trend unemployment rate has spiked alarmingly from 6.6 per cent to 8.1 per cent and rising in less than a year. </div>
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<div>Concerningly it appears likely that there may yet be worse to come as the "Holden effect" takes its toll across the suburbs of Adelaide, with mining and manufacturing two of the worst hit sectors of the labour market.</div>
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<div>The unemployment rate in resources rich Western Australia has also continued to trend up to 6.1 per cent from just 3.7 per cent in June 2012. </div>
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<div><a href="/images/2015/09/11/a7.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/09/11/a7.jpg" alt=""></div>
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<div>
<div>New South Wales has been the clear standout despite soft regional employment growth, with low interest rates allowing the Sydney economy and housing market to fire on all cylinders. </div>
<div>
<br>At the national level despite some statistical noise along the way the trend unemployment rate has now been steady for the past 12 months at 6.2 per cent.</div>
<div> </div>
<div><a href="/images/2015/09/11/A6.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/09/11/A6.jpg" alt=""></div>
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<div>With the rate of employment growth comfortablt outpacing the rate of population growth, has the unemployment rate therefore peaked for this cycle? Perhaps, but the jury is still out on that one. </div>
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<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
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<div>This was a robust result with the economy adding a sprightly +235,000 jobs over the past year and with corresponding important implications for monetary policy settings. </div>
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<div>Had the unemployment rate jumped higher as had been anticipated by some analysts prior to this release then the Reserve Bank may well have been inclined to pull the trigger on further interest rate cuts.</div>
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<div>Fortunately in the event the labour force figures were considerably better than had been feared and markets now appear fairly certain that interest rates will stay on hold at 2 per cent through October. </div>
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<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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Unemployment falls back to 6.2%: Pete Wargent

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<p><span>Businesswoman Patricia Ilhan has sold her Melbourne CBD investment premises to a local investor for close to $9.5 million.</span></p>
<p><span>The historic four-level building at 362 Little Collins Street returns annual gross rent of around $400,000.</span></p>
<p><span>It was formerly part of a series of buildings occupied by the city's McEwan's hardware store.</span></p>
<p><span><a href="/expert-insights/investing/patricia-iihan-lists-362-little-collins-street">It was sold by Vinci Carbone Property</a></span><span>.</span></p>
<p><span>The campaign generated over 100 enquiries for her four-level Melbourne office building set adjacent to Brookfield Multiplex's new 39 level development.</span></p>
<p><span>Set between Queen and Elizabeth streets, the 312-square-metre block has airspace development potential.</span></p>
<p><span>It was expected to sell for more than $8 million having been bought for $4.4 million in 2009.</span></p>
<p><span>She is believed to be selling the prime CBD property to reinvest in another commercial property.</span></p>
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