Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

Joel Robinson

The Maybelle brings 27-storey parkside tower to market near North Strathfield

Melbourne developer <a href="https://www.apartments.com.au/developers/pdg-corporation">PDG</a> has unveiled its vision for the former Water Tank Site in Ivanhoe, which would see it transformed into a thriving residential neighbourhood, complete with a 2000 sqm public park.&nbsp;

Delivered in partnership with <a href="https://www.apartments.com.au/developers/development-victoria">Development Victoria</a>, the proposal would transform the prominent corner of Bell Street and Upper Heidelberg Road into a connected community comprising two residential buildings, generous public open space and shared amenities.&nbsp;

The vision includes 287 one, two and three-bedroom apartments, with a minimum of 10 per cent allocated to affordable housing, alongside a 2,000-square-metre publicly accessible park featuring a children's playground, activity lawn, indigenous planting, timber climbing logs, seating areas and a rock gathering circle.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>, the proposal draws on the site's industrial heritage, using a robust architectural language that references the former water tank through expressive structural elements and durable, self-finished materials.&nbsp;

Extensive landscaping has been woven throughout the development, creating a living landscape that strengthens connections to nature while responding sensitively to the surrounding neighbourhood. Two residential buildings ranging from three to 12 storeys are linked by a landscaped forecourt, creating a welcoming arrival experience and improving pedestrian connections through the site.&nbsp;

Residents would also enjoy more than 1,000 square metres of communal open space, including barbecue and dining facilities, vegetable gardens, landscaped seating pavilions and a dedicated coworking space.&nbsp;

PDG Founder and Managing Director Vince Giuliano said the vision reflected an opportunity to transform one of Ivanhoe's most recognisable sites into a place that balanced housing, community and landscape.&nbsp;

"This is an opportunity to reimagine an important site and create a neighbourhood that delivers lasting benefits for Ivanhoe," Giuliano said.&nbsp;

"We're creating much more than new homes. The vision brings together affordable housing, quality architecture, meaningful public open space and shared places that encourage people to connect, while respecting the site's history and its place within the local community."&nbsp;

Development Victoria’s Executive General Manager Precincts, Niall Cunningham, said the application is an important step for the government-owned site.&nbsp;

“This is about delivering more homes in a well-connected location, along with public open space that the Ivanhoe community will benefit from for years to come,” Cunningham said.&nbsp;

PDG was selected as development partner in late 2025 following a competitive tender process.&nbsp;

A planning submission for the project is currently being progressed through the Victorian Government's Development Facilitation Program, with positive early engagement from both Banyule Council and the Department of Transport and Planning.

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

Shane Wilkinson's <a href="https://www.apartments.com.au/developers/pace-development-group">Pace Development Group</a> has lodged plans for a major residential precinct on the former Presentation College site in Windsor, with an eight-building masterplan ultimately rising to 10 storeys.

The proposal at <a href="https://www.apartments.com.au/new-apartments/167-dandenong-road-windsor-vic-3181">167–187 Dandenong Road</a> spans a substantial 19,027 sqm site and is being progressed across six stages, with the first residential stages comprising 170 homes across four buildings designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>.

Stage Two will deliver the bulk of the initial housing, with Building A comprising 81 apartments and Building B 49 apartments, both rising to six storeys.

Stage Three will deliver a further 40 homes. The heritage Nagel Building, identified as Building C, will be converted to 12 dwellings, while a new five-storey Building D will comprise 28 apartments at the Hornby Street and Dandenong Road corner.

The 170 homes across Stages Two and Three will include a mix of one, two and three-bedroom apartments, including townhouse-style dwellings.<img alt="First look: Pace plans landscaped housing precinct on former Windsor school site" data-entity-type="file" data-entity-uuid="83c56e3e-dfb9-4e12-b172-c3f18513ec32" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_9.png?VersionId=xRcRpSZsxX.UX_NDDGcRZktw7HVrzx7u" />

&nbsp;

The longer-term masterplan points to considerably greater density across the site.

Indicative plans show Building E accommodating around 80 dwellings across up to 10 storeys, while Building F is earmarked for around 120 dwellings and also up to 10 storeys. Building G is planned to range between four and 10 storeys, however its apartment yield is yet to be determined. That means the masterplan currently identifies at least 370 dwellings across Buildings A to F before any apartments within Building G are counted.

Across the 1.9-hectare site, that represents an indicative density of at least 194 dwellings per hectare, with the final figure to increase once the yield of Building G is established.

Pace is pursuing the project through the Victorian Government's Development Facilitation Program, with Urbis lodging a combined Section 96A planning scheme amendment and planning application on behalf of the developer, which secured the site earlier this year.

The application seeks detailed approval for Stages One, Two and Three, alongside approval of the broader masterplan framework that will guide the later residential stages. Stage One will see an existing heritage building adaptively reused for a wellness and fitness-related facility, while the broader precinct will retain several significant heritage buildings and established trees as part of the redevelopment.

A minimum 10 per cent affordable housing contribution is proposed across both the initial residential stages and the later masterplan stages, delivered through a discounted rental model.

The project comes immediately after a major change to the site's planning controls.

The site was rezoned to the Housing Choice and Transport Zone through Planning Scheme Amendment GC285, gazetted on July 22, 2026, and now sits within the inner catchment of the Windsor Station precinct under the State Government's Train and Tram Zone Activity Centres Program.

While the new controls identify large sites within the inner catchment for buildings of up to six storeys, Pace's masterplan pushes height to 10 storeys in parts of the site, with the taller buildings concentrated toward the centre and along the Sandringham railway corridor.

Lower-scale built form is proposed toward the site's more sensitive residential and heritage edges, with Buildings A and B generally stepping from three storeys at their interfaces to six storeys at upper levels.

Cera Stribley's masterplan breaks the development into a collection of separate buildings rather than a continuous built form, with landscaped spaces, new pedestrian links and a new publicly accessible road forming part of the precinct.

The planning report says the development will create new pedestrian connections to Elm Place and along the railway corridor, as well as a new publicly accessible road linking Elm Place with Dandenong Road. The proposed buildings will occupy around 54 per cent of the site, leaving a substantial portion available for landscaping, communal areas and permeable surfaces.

Urbis said the scale of the project reflected the site's strategic location close to Windsor Station, tram services and the Chapel Street Activity Centre, with the former school campus identified as a significant opportunity to increase housing supply on an underutilised inner-Melbourne site.

&nbsp;

First look: Pace plans landscaped housing precinct on former Windsor school site

<a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.

The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.

Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.

"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.

"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."

For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.

[smartcode_project:default project_id=7877 project_image_fid=355754]

As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.

Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.

Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.

<a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.

Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.

[smartcode_project:default project_id=7877 project_image_fid=355852]

The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.

"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."

Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.

Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.

[smartcode_project_cta:default project_id=7877]

Veil Brighton nears completion in one of the suburb's most walkable pockets

<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.

The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.

<a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.

[smartcode_project:default project_id=151614 project_image_fid=371872]

The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.

Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.

The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.

[smartcode_project:default project_id=151614 project_image_fid=372083]

"We aren't opportunistic," Monahan previously told Apartments.com.au.

"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."

Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.

Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.

[smartcode_project:default project_id=151614 project_image_fid=371890]

Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.

At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.

Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.

A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.

[smartcode_project:default project_id=151614 project_image_fid=371877]

The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.

It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.

In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.

Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.

[smartcode_project_cta:default project_id=151614]

Mosaic records more than $400m in two months at South Brisbane's The Riversdale

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

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

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A private investor has purchased a 10,384sqm Queanbeyan site for $22.3 million. 
Currently Kmart Queanbeyan take up 5,176sqm and holds a 20 year lease which will continue until 2032. 
The sale was negotiated by Ben Stewart, Daniel McGrath, Andrew Palmer of Knight Frank, on behalf of vendor LaSalle Funds Management Limited.
Ben Stewart said the property forms a central presence on the local precinct’s pedestrian circuit.
"The new Queanbeyan Hospital is located approximately two blocks to the North, with both low and medium density housing located approximately 100 metres away, forming the fringe of the town centre," Mr Stewart said.
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mick.cee-iDmgDDAmu8

Kmart's Queanbeyan site sold 

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Is it a case of banks don’t know what’s going on, or is it more a statement they don’t want to know? Pour yourself a fresh cup of coffee and read on. Don’t forget, your comments are welcomed and be sure to share them.
There are three main issues that banks appear to be very silent on and the question that is fitting in this property-climate is simply: “why are they so quiet?” A question which begs a straight answer; especially with the concerns surrounding foreign and local property investors buying newly built property and pricing local first-time-home-buyers out.
The three concerns and issues I refer to are:
·     Rental guarantees
·     Overly inflated commissions and
·     The scourge of the financial industry sector, selling property without a real estate industry license.
My immediate guess is, if you are riding the “Gravy Train” of “Overseas &amp; Local Investors” why should these seemingly illegal practices be of concern to banks? Again and for now, I’m just speculating that; it’s best to turn a blind eye than it is to confront what may well be considered unfair and unjust to local home buyers. After all, first-time-home-buyers aren’t the flavor of the month to all concerned, now are they?
It is my strong belief that the three topics noted, create an unfair advantage that has driven property values sky-high as developers reach for the skies.
Why is this unfair? I have previously discussed in other articles, “Rental-Guarantees” and “Overly-Inflated Commissions” are ultimately paid by the investor.
<a href="https://mail.privatemedia.com.au/owa/redir.aspx?SURL=buh8exBazU3bNSloPOr0rrJNNQesJNSotxGFO7YMkRixynWPdWzSCGgAdAB0AHAAOgAvAC8AdwB3AHcALgBsAGkAbgBrAGUAZABpAG4ALgBjAG8AbQAvAHAAdQBsAHMAZQAvAGkAbgB0AGUAcgBuAGEAdABpAG8AbgBhAGwALQBpAG4AdgBlAHMAdABvAHIAcwAtAGIAZQBpAG4AZwAtAGQAdQBwAGUAZAAtAHMAeQBkAG4AZQB5AC0AYQB1AHMAdAByAGEAbABpAGEALQBlAGQAdwBpAG4ALQBhAGwAbQBlAGkAZABhAA..&amp;URL=http%3a%2f%2fwww.linkedin.com%2fpulse%2finternational-investors-being-duped-sydney-australia-edwin-almeida"> </a>Ha! And you thought the developers were generous and paid for these right? Therefore, driving the values of the newly built properties upward.
Now allow me to break it down for you.
Rental guarantees:
What is common amidst most of the activity surrounding the sales of newly built property is the rental guarantees. Some rental guarantees are lasting for as long as 3 years.
It is my belief that any incentive made by the vendor or the agent to enhance the sale, the incentive has to be disclosed and must also form part of the contract of sale. The inducement being the rental guarantee but this is not limited to a rental guarantee.
In my time I have also seen cars and furniture packages form part of sales incentives, all in the aim to entice the investor to buy.
Inflated Commissions:
Yes, I know I speak out a lot about this very subject but when spruikers earn 5 times what the local agent earns in one sale, there has to be something wrong. If I don’t speak out, will the REI NSW step in or any of the REI’s for that matter?
I stopped holding that breath 4 years ago.
Nevertheless, the banking bodies should take note as their clients (the investors) are ultimately paying for this.
I also note that most of my endeared friends that have created this negative impact on the local home front, all sell newly built property. An arena where highly inflated commissions can and are paid out.
Selling without an industry license:
The temptation is just too great and the grass is greener on the other side. When so much money is at stake we have seen; brokers, accountants, financial planners and advisers jump the fence to moonlight as real estate agents as they lead their clients astray.
Again, this is an area where the banks should focus on, as local investors fall prey to the rogues within the financial sector.
A closer eye and perhaps a magnifying glass should be used to review contracts especially when the buyers are: Trustee Companies for Self-Managed-Super-Fund (SMSF) Trusts. More to the point when the property is new as this is the territory where these rogues, feast and boast about the high commissions earned.
Rental guarantees, overly inflated commissions and spruikers selling real estate without a license under the guise of calling themselves property-marketers: should send alarm bells ringing through the banking sector. But once more, why is there so much silence surrounding the very issues that have overly inflated the value of a new property in Sydney?
Getting to the nuts and bolts
Unethical real estate agents, spruikers, property marketing companies and the scourge of the financial sector; all have been ensnared by the prize of the high commissions and in turn lure investors by creating false perceptions of property: growth, demand, under-supply and high return on investment. How? By the simple use of instruments (such as rental guarantees) outside of the contract of sale and therefore, making the transaction questionable and unconscionable.
The falsely represented, high priced, new property sales ultimately filters down to established homes and we have what I refer to as “property-osmosis”. Property osmosis is an upward pull of established property's prices, caused by the exaggerated values of the surrounding new developments.
Most people are also under the impression that Overseas-Investors are paying for their properties with 100% cash. However, that it is not the case. Most investors buy property with a high deposit and borrow 50-60% through a loan vehicle.
In actual fact, Chinese citizens can only take up to $50,000 out of China through legal channels. However, there are means and ways to take $200K-$400K without much fuss.
Therefore, banks are more than happy to lend at 60% Loan to Value Ratios, as they are well secured even if the market dips by 20-30%. As you can see, there is very little risk for the banks.
Then there are our home grown Local-Investors that have been enticed to buy. Their property investment guides as previously mentioned are mainly, property spruikers and financial experts that assist in creating (SMSF) schemes to buy property. These vehicles also requiring low LVRs to purchase.
Typically, the SMSF schemes may borrow 70-80% to buy the investment property. Again the banking sector feeling secure on all counts.
What banks and Industry bodies need to do
The first and foremost prudent demand banks should place on the real estate industry is, for the “Sales Inspection Report and Agency Agreement” to be disclosed. Disclosure of what the “AGENCY” is being rewarded for the sale, will provide a twofold and strong indication to the valuer if there are any hidden agreements not being revealed.
·     Overinflated commissions
·     Payments made to agent/agency to cover rental guarantees and other incentives not disclosed in the Contract of Sale, which are passed on to the investor.
A copy of the agency/corporation license, should also accompany the contract of sale when providing the relevant documentation to the valuers. For the bank valuers to properly asses the true value of the property.
·     An agency or business name on the front page of the contract inserted after "Vendor's Agent" does not represent that the agent holds an industry license.
Perhaps at this very moment there is simply too much at stake to curve these questionable practices. The banks, financial institutions, real estate agents and we may also include the government, are all making too much money on this gravy train, to really care about our local first home buyers.
I am troubled nonetheless to think that all these practices that may be considered highly questionable if not illegal, have and continue to go on and right under the very noses of the banking institutions.
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
 
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ealmedia-arK4DBYLjS

Banks turning a blind eye: Edwin Almeida

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The Singaporean construction company Lian Beng has emerged as the buyer of Newspaper House, on Collins Street, Melbourne.
It sold recently for around $24.9 million. Established in 1973, Lian Beng Group is one of Singapore's major home-grown building construction groups with integrated civil engineering division. It is headed by Ong Pang Aik.
The historic Newspaper House, at 247 Collins Street, Melbourne comes with mosaic mural on its front facade designed by Napier Waller in 1932.
Mervyn Napier Waller's "I'll put a girdle about the earth" features heroic human figures appear among scenes of commerce, construction and communication.
There's lots of gold, an echo of the Byzantine era, in the 1933 commission by Sir Keith Murdoch from the Herald &amp; Weekly Times who needed more than their empire on Flinders Street.
<img class="img-responsive" src="/images/2015/05/08/700_mural.jpg" alt="Newspaper House, Collins Street under offer">
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It was the former WH Rocke Ltd building on a 478 square metre holding. The purchaser was considering both leasing and subdivision plans for the building.
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<div class="row article-content"> </div>
<div class="row article-content">The ground floor of 247 Collins Street had been previously leased to the House of Cashmere, and the upper levels to Sydney International College.  </div>
HIDDEN TREASURES OF NAPIER WALLER
1926-27 MURALS Melbourne Town Hall, Swanston Street.
1927 MURAL Menzies Hotel, cnr Bourke and William streets (building demolished in 1969, mural sold privately).
1928 MURAL Better Than to Squander Life's Gifts Is to Conserve Them and Ensure a Fearless Future T&amp;G Life Building entry foyer, cnr Collins and Russell streets.
1928 MURAL Peace After Victory State Library of Victoria, first-floor landing near La Trobe Reading Room, cnr, Swanston and La Trobe street.
1933 MOSAIC I'll Put a Girdle Round the Earth Newspaper House facade, 247 Collins Street.
1934 FLORENTINE MURALS Florentino Restaurant, now Grossi Florentino, first floor, 80 Bourke Street.
1935 STAINED GLASS WINDOW Wesley Church, Pioneers window, upper gallery, north wall, 148 Lonsdale Street.
1935 STAINED GLASS WINDOW Ian Potter Museum foyer, Swanston Street on university campus. (Designed for Wilson Hall, University of Melbourne, which was destroyed by fire in 1951. Window was retrieved from the ruins.)
1935 MUIRALS Myer Melbourne Mural Hall dining room, sixth floor, 314 Bourke Street.
1937 STAINED GLASS Orchid Window University of Melbourne Botany School.
1940 MURAL Australian Symbolic Figures University of Melbourne Achitecture, Building and Planning Library (Orginally on display at Royal Insurance Company, 414-418 Collins Street, but donated to university after building was demolished in 1969.)
1963 MOSAIC The Eight Aboriginal Tribal Headmen Temple Court foyer, 422 Collins Street.
1967 MOSAIC Prometheus Monash House foyer, 15 William Street.
List Source: Fairfax Media
 
 
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jchancellor-FAypfDUnLy

Lian Beng buys Newspaper House, Melbourne's iconic Collins Street retail holding

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Tony Abbott is absolutely right. There’s something I never imagined I would ever say, but the Prime Minister is spot on with his comments this week about house prices. He said on Monday he thought rising house prices were a good thing.
He sought to make his comments as a home-owner at Forestville in the northern beaches area of Sydney, as well as the nation’s Prime Minister.
The Federal Government has got a lot wrong on real estate, with its pointless inquiries and its equally pointless targeting of foreign investors in a sabre-rattling attempt to be seen to be taking strong action.
But Abbott was right on the mark about house prices. It’s long overdue for someone in authority to make the point that for people who own homes, which means the vast majority of Australian households, rising property values are a good thing. 
They’re also a good thing for the nation.
For way too long, mainstream media has characterised any rise in house prices as a national crisis. It’s been the dominant tone in newspapers since the start of the century, which began with a genuine national property boom from 2001 to 2003, and it’s reached the point of absurdity more recently with coverage of the Claytons boom centred on Sydney.
Media has also lost all sense of balance with its treatment of the affordability issue. They’ve turned first-home buyers into a kind of protected species, to be fussed over to the exclusion of everyone else, including the seven out of 10 households who own their homes and want their values to rise.
Here’s what the Prime Minister said on Monday: “This government is trying to make housing more available, we’ve tried to make housing more affordable, and the best way to make housing more affordable is to keep interest rates low and stable and that’s exactly what’s happening and trying to make sure the economy is strong.
“As someone who, along with a bank, owns a house in Sydney I do hope that our housing prices are increasing. I do want housing to be affordable, but nevertheless I also want house prices to be modestly increasing."
That’s probably the only time in his reign that Abbott has spoken on behalf of most Australians.
Notwithstanding the misinformation that often describes our housing as the most expensive in the world - and the fuzzy logic that has turned the current up-cycle in Sydney into a national bubble - Australia continues to have one of the world’s highest home ownership rates. Most home-owners with mortgages are ahead on their repayments, while mortgage delinquencies are at record lows. These facts suggest a market that’s healthy and sustainable. 
Most of us want property values to rise – and so does the nation. We’re all tasked with the challenge of providing for our retirement years amid a rapidly ageing population and a fragile Budget. 
That demands that we invest and grow our assets. For many, the cornerstone of the process is the family home and its value.
So the Prime Minister leads the nation in wanting prices to rise across Australia. The problem is, they’re not.
The latest research figures suggest house values are going backwards in Darwin and Hobart, stagnating in Perth and rising only marginally in Canberra, Brisbane and Adelaide. Sydney, up 16%, has the only boom housing market.
Apartments markets are falling in Perth, Hobart, Canberra and Darwin, and there’s no meaningful growth in Brisbane or Adelaide. Melbourne is up only 3%. Even Sydney’s rise of 8.8% is quite moderate.
There’s nothing in those figures to support the notion of a bubble, nor the bleating of those who claim an affordability crisis, in contradiction of the situation described by the affordability indexes.
It says something about the state of journalism in Australia when the Prime Minister can generate a media storm by commenting that rising property values are a good thing.
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>
Terry is presenting a free webinar with Property Observer editor at large Jonathan Chancellor on Tuesday June 16 at 12.30pm titled on why research is the key to successful property investing in 2015. Sign up here.
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terryryder-YECXbqmri2

Tony Abbott is absolutely right on house prices: Terry Ryder

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Origin Energy chief executive Grant King and his wife Jenny have a $1.7 million price on their redundant Pittwater retreat.
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<div class="articleBody">
The Neutral Bay couple now own a pricier Palm Beach beachfront. 
<a href="https://palmbeach.ljhooker.com.au/33MF6Z/11-coasters-retreat-coasters-retreat" target="_blank">The waterfront reserve Coasters Retreat cottage </a>was bought it in 1995 for $307,500 before its extensive renovation and extension. 
Accessed only by boat or a regular ferry service from Palm Beach, Noel Nicholson, of LJ Hooker Palm Beach, has the listing.
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Modernised Coasters Retreat cottage with $1.7 million asking price

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Kmart has committed to a new freestanding 6,200 square metre store at Oxenford, due for completion late 2015.
Savills has now sold this new development as an investment, with a 12-year lease to Kmart.
It sold to a Melbourne based private investor for just under $22.7 million, representing a record low yield of 5.95%. 
The sub-6% yield eclipses the recently set record of 6.04% achieved in the sale of the Masters Home Improvement store in Melbourne’s Williams Landing.
The Kmart store was offered in a marketing campaign conducted by Peter Tyson and Jon Tyson of Savills.
Peter Tyson said the strong sale result followed overwhelming investor interest in the asset, which saw more than 160 separate buyer enquiries throughout the short campaign.
He said enquiry was received predominately from private investors but also included syndicators, REITs and fund managers.
The sub-6% yield result is understood to represent the lowest yield in Queensland for a freestanding retail asset in this higher price range and one of the lowest results recorded nationally for a Discount Department Store asset.
The property comprised a new 6,200 square metre freestanding retail building wholly leased to Kmart Australia Ltd on a 12 year term with four six year options. The property features on grade parking for 184 vehicles and a site area of 13,550 square metres. 
The offering was expected to attract strong interest and pricing in excess of $20 million.
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Oxenford Kmart sold before opening on record low yield

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Kmart Australia has agreed terms on the single biggest industrial pre-lease in the Western Australian industrial market in nearly a decade. 
It has committed to a 41,700 square metre, circa $35 million, office and warehouse complex within the Jandakot City precinct at Jandakot Airport which will serve as the retailer’s major distribution centre for WA.
Kmart had taken a long term lease over the facility which includes one hectare of containerised hardstand, with a specially designed wind safety barrier, on the ten hectare site. 
The rental was not disclosed for the facility which will be developed by Jandakot City Holdings.
Construction has an expected completion date of mid next year.
The Kmart deal is the second major pre-lease deal at Jandakot City in recent times following Reece Plumbing’s 15 year pre-commitment to a 25,000 square metre office and warehouse complex in December. 
The Kmart and Reece deals, the largest in WA’s industrial property market in nearly ten years, reflected a welcome declaration of confidence in the WA economy, Savills Australia divisional directors, James Condon and Darren Curry said.
Kmart will relocate from its current facility at Canning Vale. 
The new facility further marks Kmart’s significant growth as it is now one of the most profitable retailers in Australia. 
Since engaging Savills in 2009, it has opened a 76,000 square metre distribution centre at Truganina in Melbourne, a 50,000 square metre facility at Eastern Creek in Sydney, and a 51,000 square metre facility in Brisbane.
 
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Kmart on the distribution centre expansionary path

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The business travel management solutions company, 1000 Mile Travel has agreed terms on a new lease in Richmond.
Set within the SJB architects’ designed Cirque apartment development at 2-6 Lord Street, the property comprises a 105 square metre retail ground floor space.
The deal was done by Savills Australia Victorian retail director, Michael Di Carlo with CBD Fringe leasing executive, Tim Sugar.
1000 Mile has taken a three year lease at $460 a square metre net, relocating from its current premises in Queens Road, Melbourne.
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1000 Mile Travel off to Richmond 

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Reserve Bank Governor Glenn Stevens has noted that low interest rates have assisted the commercial property market.
In delivering the RBA's Monetary Policy Decision Tuesday afternoon, Mr Stevens also described a 'large rise' in dwelling construction.
The latest quite brief comment follows RBA commentary in March on rising risky investment in the commercial property market could inflict pain for the broader economy.
It was in its semi-annual financial stability review.
The commercial property sector was especially under closer scrutiny now as the RBA identified a build up in risks in an area that has "posed a disproportionately large risk" to the financial system.
<div id="tt-wrapper8238f52" class="tt-wrapper inread ">The March comments, reiterating past warnings about the threat, noted competition among lenders remains vigorous in a number of domestic markets and lending margins have fallen.</div>
"Property-related lending has been a particular focus of the competition in the corporate lending market, said the RBA.
"Although the Australian banking system’s exposure to the commercial property sector declined following the global financial crisis, and the recent lending has not increased its share of banks’ domestic assets, risks in this area appear to be building.
"Investor demand for both new and existing commercial property developments has been strong, despite weakening leasing conditions in a number of market segments.
"Particular caution around collateral valuations is warranted in the current environment of declining property yields.
"Lenders should also be mindful of the collective effects of strong lending activity within particular market segments, even if individual borrowers appear to be of low risk.
For a full transcript of the March 2015 statement, <a href="/expert-insights/finance/strong-again-in-sydney-rba-governor-glenn-stevens-june-2015-meeting-statement">click here</a>.
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Low interest rates driving commercial market

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Skyscrapers have been mooted as the best method to alleviate economic and geographic pressure when building in cities, according to a new report.
<a href="https://www.knightfrank.com/resources/global-cities/global-cities-pdf/knight-frank-global-cities-skyscrapers-2015-report.pdf" target="_blank">The Global Cities: Skyscrapers 2015 Report</a>, released by Frank Knight, found the higher the building, the higher the rent tenants will pay.
Knight Frank’s Head of Office Agency for Australia, John Preece, said the development of 'premium towers' is also increasing.
“From a commercial perspective, landlords can charge higher rents for upper floors, which could support the commercial position for high-rise development," Mr Preece said. 
<a href="/images/2015/06/03/skyscraper.jpg" target="_blank"> Click to enlarge</a>
<img src="/images/2015/06/03/skyscraper.jpg" alt="">
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