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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Monaco experienced a surge in residential market activity in 2014 with transaction volumes exceeding their 2007 peak for the first time, says international real estate advisor Savills.
They counted 555 re-sale properties sold in 2014, putting the number of sales 21% above their 2007 activity.
The very upper tiers of the market have been the most liquid, pushing re-sale volumes in euro terms to new highs with around €2bn of re-sale property traded in 2014. 
The new development market is tiny and exclusive and since the global economic downturn, developers in the Principality have shifted their focus to the global ultra-prime segment, developing larger units at higher price points. This has pushed new build sales volumes to €345million, 2.5 times the volume recorded in 2013 and 13 times that of 2008.
 <img src="/images/2015/05/22/Screen%20Shot%202015-05-22%20at%209.03.38%20AM.png" alt="">
But average prices have remained static, Paul Tostevin, associate director, Savills World Research, said.
“Price are at, or near, a high plateau and will be for some time to come.
“The unique offering of Monaco’s global appeal and its extremely limited land supply will all combine to keep its real estate prices high with few or no mechanisms for them to fall. 
"A weak euro has meant that Monaco has dropped down the global league table and is now second to Hong Kong in US dollar terms, purely on currency movements," Paul Tostevin added. 
<img src="/images/2015/05/22/Screen%20Shot%202015-05-22%20at%209.02.20%20AM.png" alt="">
<a name="graphic04" href=""></a>
Savills expect prices to remain stable. 
"Homes in Monaco are most commonly paired with London, followed by New York and Moscow. 
"Monaco remains a premier destination for motor sport, yachting, gambling and recreation. 
"This combination, right on Europe’s doorstep, sets it apart from almost any other city or state. 
"Only Macau is beginning to come close but the attractions of the South China Sea are not the same as the Mediterranean. 
"In the longer term, Gibraltar has the potential perhaps to be a rival but it will need investment and infrastructure if it is to challenge Monaco." 
<a href="/images/2015/05/22/Monaco_map.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/05/22/Monaco_map.jpg" alt=""> 
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jchancellor-FAypfDUnLy

Monaco's tiny prestige residential market on a high plateau: Savills International

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When Australia’s head cashier Joe Hockey proudly announced that he had nailed an illegal foreign purchase with the $39.000 million sale of Villa del Mare or Villa del Nightmare as I prefer to call it he would not have realised he had opened the largest can of worms in Australian property history. Mark my words this is a now a major election issue that must be intelligently resolved given what is actually happening now is unprecedented and will cost a party an election if it continues to go unchecked and ignored.
I have said for many years now that the Foreign Investment Review Board (FIRB) is right up there in terms of the most hopeless departments in Canberra. As was the case with Villa del Mare you don’t need to contact FIRB all you need to do is just buy it and if investigated once the divestment order is issued just phone a friend (as was the case with Villa del Mare) and transfer the property into an Australian residents name – which is totally legal and requires no further questions. 
This now opens the flood gates for all illegal purchases to follow suit as this is the legal precedent thanks to this approved divestment order. We can also expect criminals from all over the world will be eyeing Australian real estate as a wonderful vehicle to wash the proceeds of crime. What we have now is a person on unemployment benefits can appear as the owner on say a twenty plus million dollar home due entirely to the many legal loopholes. 
When we look back on federal governments in action we note that they only act quickly on three things – terrorism, natural disasters and wars. When you look at what’s happening to Australian property you could say that today it has a bit of all three in its DNA. 
The burning question is how do you fix this to ensure that the loopholes are closed once and for all? Well that’s easy as I have always been mystified as to why federal governments are so backwards and lazy in keeping records on Australian property. 
All that needs to be done is when a property exchanges the lawyer or conveyancer immediately after exchange logs onto the Australian Taxation Office (ATO) website under Australian Property Register (password protected of course) and provides the name(s) of the purchaser, their address, who acted for them, the address of the property and wait for it – their tax file number. Then the ATO can wash this data as well as providing the information to the FIRB for review. 
If you have a divestment order and the owner phones a friend to transfer the property into their name in order to hold onto the property. Then Joe Hockey should immediately get rid of his stupid $5,000 fee on a foreign purchase and replace it with an annual Federal Property Holding Tax at 1.75% of the calculated land value. In the case of Villa del Mare that would be a $525,000 annual tax – so get the foreign buyers to assist Australia in getting its budget back to surplus faster.
But sadly it’s just not that simple given from July 1 the Abbott government is set to release its Premium Invest Visa (PIV), which is for sale at $15 million. Once an applicant has completed their PIV and handed over the required $15.000 you are rewarded with permanent residency in less than twelve months. The PIV replaces the SIV (Significant Investor Visa) which required $5.000 million investment over a four year term to then get permanent residency. You could be excused for asking oneself just who exactly does the SIV and PIV benefit? But I’m sure you already know the answer to that. 
In the meantime the House of Representatives Economics Committee has announced a “new” inquiry into home ownership. I find that simply fascinating given none of them would actually know what exactly they are looking for. The Chair of the Committee, John “Love ‘n Deuce” Alexander, said that ‘home ownership is an issue that lies at the core of the Australian dream and represents the largest investment that most taxpayers will make during their lifetime.
The importance of this issue throughout our nation makes it worthy of a detailed inquiry.’ Well isn’t that riveting? Submissions to the inquiry are requested by 26 June 2015, and the proposed reporting date is 03 December 2015. 
Oh I get it the Abbott government will release its action plan just before the next election. See I told you foreign ownership is an election issue. 
I wonder what will happen when I email them this blog titled ‘My Submission’.
MOSMAN – 2088
• Number of houses on the market this time last year – 102
• Number of houses on the market last week – 57
• Number of houses on the market this week – 57
• Number of apartments on the market this time last year – 72
• Number of apartments on the market last week – 50
• Number of apartments on the market this week – 49
CREMORNE – 2090
• Number of houses on the market this time last year – 7
• Number of houses on the market last week – 3
• Number of houses on the market this week – 4
• Number of apartments on the market this time last year – 27
• Number of apartments on the market last week – 13
• Number of apartments on the market this week – 10
NEUTRAL BAY – 2089
• Number of houses on the market this time last year – 7
• Number of houses on the market last week – 3
• Number of houses on the market this week – 3
• Number of apartments on the market this time last year– 48
• Number of apartments on the market last week – 31
• Number of apartments on the market this week – 27
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robertsimeon-hRNTwJyXkQ

Feds should hang up on the ‘phone a friend’ loophole: Robert Simeon

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Paddington's Grand National Hotel sold this morning.
Bidding started at $6 million when auctioneer Damien Cooley took bids from what appeared to be the five interested parties.
It was knocked down at $7.25 million through <a href="https://www.colliers.com.au/14889#.VV06uutMIzU" target="_blank" style="line-height: 1.3em;">Colliers International agent Miron Solomon</a> who had the offering in conjunction with CBRE Hotels agent Daniel Dragicevich.
The prominent corner freehold has recently undergone a complete refurbishment over the entire ground floor by new tenants, LJB Hotels, who have a long term lease.
It was sold with a 20 year lease (10+5+5) over ground floor to established tenants, who commenced in 2014, with current net income of $250,000 pa.
The holding was a 437 square metre footprint with upstairs NLA of approximately 600sqm and current inventory of up to 24 pub­-style accommodation rooms.
It was offered with future development of first and second floors to suit a range of types and uses ranging from accommodation, hospitality, residential or commercial office. 
“The buyer was ultimately a private investor looking to unlock the cash flow potential from the top two floors," Colliers International’s Miron Solomons said.
 
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Grand National Hotel Paddington sold

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It was inevitable that Sydney would run out of puff eventually and the most likely time for it to happen was in the third year of price growth – which means some time this year. It’s rare for major markets to sustain a boom for any longer than that.
I’ve just finished the research for the latest edition of The Price Predictor Index, examining market activity in suburbs and towns across the nation, and it indicates Sydney has begun a gradual fade. 
The number of suburbs with rising sales activity has dropped and the number of what we call “consistency markets” has risen. This is because suburbs that previously had growing sales volumes have now tapered off at those higher levels or have dropped a little below the peak.
It provides quite a stark contrast with Melbourne. It’s clear from the research that Melbourne is out-pointing Sydney on sales activity, if not on price growth. 
Melbourne now has almost double the number of growth suburbs as Sydney. Melbourne has 134 suburbs classified as rising markets, compared to 72 in Sydney.
As further evidence of the Sydney fade, regional New South Wales now has (slightly) more growth suburbs than does Sydney.
Melbourne continues to produce upwardly-mobile markets across the metro area. According to our ranking system, it has seven Rising Fast, 127 Rising Steadily and 100 Consistency markets, which is an improvement on the results three months ago and represents a general strengthening of the Melbourne residential sector.
Two things stand out in the latest analysis: “middle Melbourne” is still strong and new areas are emerging with strong markets, especially locations on the outskirts of the metropolitan area.
The Whitehorse LGA, east of the Melbourne CBD, remains the No.1 precinct. It has more suburbs with forward momentum than any other precinct in the city. Whitehorse includes Nunawading (median price $700,000), Burwood East ($800,000) and Blackburn South ($800,000). 
Other middle market area of prominence include Monash City, where Mt Waverley ($960,000), the Oakleigh suburbs (around $750,000) and Chadstone ($805,000) are doing well, and the Kingston LGA, which includes Cheltenham ($695,000) and Parkdale ($750,000).
But increasingly, strong markets are popping up on the periphery of Greater Melbourne. The charge is being led by the Frankston and Mornington Peninsula LGAs in the far south: Frankston has eight ranked suburbs and the Mornington Peninsula has 13. Rosebud sales have risen from 117 to 134 to 175 per quarter, while Rye has improved from 91 to 120 to 155.
The Casey LGA in the south-east has two Rising Fast suburbs, five that are Rising Steadily and seven that are ranked as Consistency markets. 
Whittlesea in the north remains a serious contender: it has two Rising Fast suburbs and four Rising Steadily markets. Epping sales have been 77, 113, 107 and 130 in the past four quarters. Also in the affordable north, the Hume LGA is a new challenger, with six Rising Steadily markets, including Roxburgh Park ($400,000) and Westmeadows ($415,000). 
The Brimbank LGA in the western suburbs is a regular standout. It has now has nine Rising Steadily suburbs and six Consistency markets, a marked improvement on three months ago. Wyndham City in the far south-west is another of the big improvers. And Yarra Ranges in the far eastern suburbs, which has not featured previously, now has eight ranked suburbs.
Upmarket areas such as the Boroondara LGA (including Balwyn and Kew and the Glen Eira LGA )  (including Caulfield North and Bentleigh East) feature, each with six or seven growth markets, but most of the standouts are middle market and bottom end suburbs.
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>
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Inevitable Sydney would run out of puff: Terry Ryder

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The number of residential vacancies climbed across the nation in April 2015, according to figures released by SQM Research.
SQM recorded a vacancy rate of 2.3% posted based on 69,295 vacancies, up from 2.1% in February when vacancies were 63,906. 
Rises were recorded in all capital cities, excluding Hobart where the vacancy rate remained unchanged.
The biggest rise was recorded in Canberra with a monthly change of 0.4 percentage points from March, although over the year, vacancy rates in Canberra have remained tight with a small 0.1% jump from this time last year. 
Modest climbs were also posted in Sydney and Adelaide.
<img src="/images/2015/05/21/SQMvacancy1.jpg" alt="" width="856" height="255" style="line-height: 1.3em;">
<a href="/images/2015/05/21/700_sqm.jpg" target="_blank">Click to enlarge</a>
Year-on-year, vacancy rates continue to rise in Darwin and Perth.
Darwin has posted the biggest yearly rise in its vacancy rate to 3.5% from 2.1%, reflecting the continued impact of the commodities downturn weighing down on employment and property markets in that city. 
Perth has also recorded ongoing yearly rises with vacancy rates leaping from 2.4% to 3 percentage points in April 2015. "Notably, SQM Research data records falling asking rents in Perth, Canberra and, in particular Darwin, which has recorded a fall in asking rents of 14.5% for houses and 6.3% for units for the past 12 months," SQM's Louis Christopher said.
"In contrast, Sydney has recorded a rise of 3.6% for houses and 1.1% for units. 
"Asking rents in Adelaide and Hobart also recorded modest rises for the same period."
"The rental market remains in its slow down phase and I believe the rental market overall is going to remain soft for some time to come. 
"Some regions may beat this outlook such as South East Queensland, parts of Melbourne and Hobart where tenancy demand is accelerating. 
"Darwin and Perth will continue to display weakness as the mining downturn continues to bite hard." <img src="/images/2015/05/21/sqm2rents.jpg" alt=""> 
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Vacancy rates tracking higher in softening major capitals: SQM

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Hong Kong documentary maker Melissa Gecolea visited Australia recently to film Chinese buyer activity in the property market. Her report, titled Mainland Invasion on The Pearl Report went viral in China.
She concluded they were active in three markets: property for students, investment properties, and high-end homes.
"We're finding that in certain cases, property prices are being driven up, but it depends on what kinds of properties you're talking about," Ms Gecolea says.
"Some of them come here for a few days, with the intention of buying a place, and that's exactly what they do."
Still she says, what she found,wasn't as extensive as she first thought.
"It's not this 'property invasion' that had been presented to us…," said Ms Gecolea who has been the principal producer for <a href="https://programme.tvb.com/news/pearlreport/episode/20150511/" target="_blank">The Pearl Report</a>, TVB Pearl HK; and previously former co-host, writer for ABSCBN News Channel, On the Money.
"If you're talking about the luxury properties in Hong Kong, compared to the luxury properties here, I think the prices here are still good."
Melissa Gecolea says many buyers at auctions are third or fourth generation Australian-Chinese, rather than investors from China.
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Chinese buyers in Australia - a mix of fly-ins and fourth generation: Melissa Gecolea

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Property fund manager, Vantage Property Investments, has raised $17.6 million on an overall passing yield of 7.4% for three Victorian industrial assets in separate deals negotiated by Savills Australia in conjunction with CBRE.
The properties at Epping, Keysborough and Notting Hill, comprising four buildings – office/warehouses and showrooms - totalling 10,421 square metres on 23,475 square metres of land, were sold subject to five to ten year leases with an average WALE of 5.4 years and a combined rental income of $1.318 million.
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Vantage raises $17.6m with industrial portfolio sale

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The Ulladulla Shopping Centre on the NSW South Coast has been sold for $6.975 million.
Reflecting a yield of 8%, the property at 116-118 Princes Highway, Ulladulla was sold by Steven Lerche of Savills and Michael Gilbert of Burgess Rawson to a private investor on behalf of Errol Diamond of Diamond Property Group.
With 2,148 square metres, the centre is anchored by IGA which comprises 62% of the centre’s total income and is secured on a long-term lease until 2021.
The property was sold post auction which saw three interested parties.
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Ulladulla Shopping Centre sells at $6,975,000

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Chinese UHNWIs are exploring Australian investment opportunities and their investment strategies are far ranging. 
According to the latest Knight Frank report, Australia has recorded exponential growth in investment over the past few years, culminating in just over $4 billion invested into the country by Chinese investors in 2014, across both commercial and development sites.  
Knight Frank’s Group Director of Research &amp; Consulting, Matt Whitby, one of the most powerful drivers “pushing” capital out of China, has been the continued consolidation of China’s residential real estate market.
“In March 2015, all of the 70 major Chinese cities recorded annual house price falls, compared to March 2014 when only one city recorded an annual decline.
“Recent cuts to China’s lending rates and the Reserve Requirement Ratio (RRR), may help boost confidence in the property market. 
"However, we expect property prices to remain under further pressure in 2015, as prices are unlikely to rebound while developers continue to clear inventory and pull back on new projects. 
"While this remains the case, we believe this will continue to make offshore expansion a viable option over at least the short to medium term.
"It is clear that the Australian cities are attracting significant investment, relative to the size of their economies. The economies of London and New York are much larger than the combined economies of Sydney and Melbourne, however they were outpaced in 2014 as a place to invest for the Chinese,” said Matt Whitby.
<img src="/images/2015/05/20/700_knight_map.jpg" alt="">
According to Matt Whitby, the Australian currency has also led to increased investment. 
“The Australian Dollar has depreciated by around 33% against the Chinese Renminbi since the last peak in April 2011, and 19% since mid-2014, which has largely strengthened the purchasing power of Chinese investors. 
"Overseas investment has become relatively cheaper. 
"Many Chinese and Hong Kong investors see this as a good opportunity to acquire foreign assets.”
 
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Chinese investors liking Sydney, Knight Frank

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The purpose-built headquarters of GM Holden in Port Melbourne has been sold by Mirvac Group to Altis Property Partners for more than $85 million.
The three-level office building, at 191-197 Salmon Street, was last valued at $77.5 million.
The property’s net passing income is close to $9 million.
Colliers International and CBRE secured the sale.
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