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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The No Land Tax Party candidate Peter Jones has missed out on his seat in the NSW Legislative Council.
The party was thought likely to win the 21st and last position up for grabs in the NS Upper House, but lost out to the Animal Justice Party.
The ABC election analyst Antony Green told 2GB's Ray Hadley that Green preferences swung the final result.
Animal Justice Party parliamentarian Mark Pearson said he was thrilled that the voice of animals would be heard in a house of parliament for the first time.
Mark Pearson is executive director of Animal Liberation in Australia.
Photo courtesy of J Bar/<a class="mw-mmv-license" href="https://creativecommons.org/licenses/by-sa/3.0/" target="_blank">CC BY-SA 3.0</a>.
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jchancellor-FAypfDUnLy

No Land Tax party misses out on NSW Upper House seat

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While his Treasurer is overseas, Prime Minister Tony Abbott has quashed speculation over the future of negative gearing by promising there will be no changes.
"Yes," was his answer when asked on Thursday whether he could rule out changes to negative gearing
There has been speculation that the government, through its taxation white paper process, might bow to pressure over claims negative gearing was benefiting the landlord class.
Abbott said he wanted to have a conversation about reducing taxes and curbing spending.
"Now, I don't absolutely rule out closing loopholes and ending anomalies and trying to make sure that existing tax rules are fairly and squarely applied, but the government I lead wants taxes to be lower, simpler, fairer," he said.
"We'll continue tax reform in the upcoming budget with a small business tax cut. I would say to the people who are running around looking to increase taxes on people, what we really need to do is to get our spending under control.
"Australia does not have a problem with taxes being too low; Australia has a problem with spending being too high because of the excesses of the former government."
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No negative gearing changes: PM Tony Abbott

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GUEST OBSERVATION
Those who have read my book or heard one of my presentations, are often struck by the juxtaposition on some of my investing suggestions. It usually goes something like this:
a) You’re a conservative investor but you recommend spending more money on property at times like this.
b) You say Sydney is the best and most robust market in Australia but when I heard you speak you are saying that Sydney is “terrible” investing right now.
c) You say you’re not a speculator, but you actually have the gall to recommend the Gold Coast market now? Are you mad?
Well. I can answer them all with yes, yes, yes and yes (the last one being for ‘yes’, I am mad!).
So let me try and explain.
Is Mr/s Average Wealthy?
I have made almost all of my wealth from investing by putting my money down when it seemed like absolutely the craziest thing to do. Think about this for a second.
The average price for a 2/1/1 unit is say Coogee/Bondi is now approaching $850,000 to $900,000. Clients of ours were buying these same units for as little as $530,000 as recently as 2012. Some of these same clients are now selling. Most are not. All of them are ecstatic with the performance of their investment(s). The prevailing rent at the time was approximately $630 to $650 per week. $530,000 for $650 per week is an excellent deal, especially in premium Sydney.
Now, saturation of the rental market has meant that these rents should arrive at between $580 per week and $590 per week within 18 months. Remember, this is an investor lead property recovery. More rental stock will mean higher vacancy rates going forward.
It is the average property investor that has driven the prices up to almost $900,000. Do you think they would be happy with their results when they wake up to realise their investment is now yielding sub 3%? I suspect not. More likely, I’d even say with certainty that the likely result is a small but immediate retreat in prices to reflect the newfound ‘wisdom’ of investors.
Keep in mind that I don’t see a larger correction (yet) while interest rates oscillate around these levels, so I’m not here to spook anyone. But investing is more about psychology than one would think.
Perception Bias
The problem of the ‘average’ investor in this scenario is that they have perception bias.  World class resource investor Rick Rule cites that “expectations of the future are usually set by their experiences in the immediate past”. The punter saw $600,000 become $700,000. They saw $700,000 become $800,000. They saw a slight arm wrestle with the market in winter/spring of 2014 which might have changed their mind. But alas, the bulls won that round with the noise of interest rates pursuing their downward trend. Then the last move from $800,000 to $900,000 has sealed the deal. The averages are piling in. Remember, ’average’ doesn’t become wealthy.
Now their expectations are set. $900,000 will now become $1 million. $1 million will become $1.1 million. Rinse, repeat.
No. It. Will. Not.
This is not just illogical, wishful thinking and void of wisdom, but it also ignores a common tenant of investing in assets. A Golden Rule I have always followed as a professional investor, that being: ‘an assets value cannot be outstripped by people’s ability to afford that asset’. With Sydney-siders bordering on 55% of their household income being spent on property, (this has (historically) always been our limits...since our economy went global in 1988. If I am to be wrong, please tell me which part of the family budget will be stripped. Is it food? Education? Is it healthcare? Try telling your child they’re not getting the next iPhone?
If you are betting on this happening... you are betting against history. And if I am wrong by a decimal point, it doesn’t make me wrong to warn off investing in Sydney (or Melbourne for that matter) now. If we decide to break a record and spend 56% of our household income on property, this discrepancy wouldn’t even cover the cost of ¼ of your stamp duty.
No, my friends. Mr and Mrs Average are about to lose their shirt. I just hope it isn’t you; dear reader.
Over Committed? Is there a way out?
But now for the good news. The above scenario, while inevitable...is not ‘imminent.’ I have been forced to take a more ‘hawkish’ view of the prevailing sentiment over the past 18 months, and of course the fundamentals. Interest rates will be lower for longer. One more rate move down seems likely, but it matters not. One rate decrease equals $40 per month more affordability. If you think this changes anything try the Woolworths test. Go in and spend $40 and see how long it takes you to do it. You’ll be at the register in four minutes flat...no need for the trolley with $40 worth of goods!
For those that are over committed, there is time to get out of this mess. For those that bought a lemon, time to rethink. For those that are going to sell anyway, in say the next 4 years - maybe now is a good time to consider it. Mr and Mr Average certainly aren’t thinking too hard. They are getting pretty drunk on their own kool aid... so while they are still inebriated, perhaps sell them yours before they sober up. They’re going to buy anyway, why not make sure it’s yours?
Is there any opportunity in the market left?
I was gratified last weekend to finally see some of the major financial newspapers acknowledge that opportunity is abound in South East Queensland, something our office has been screaming from the rooftops for almost 30 months!
“The next cycle could prove to be a super cycle driven by Chinese investment and rapidly growing tourism,”CEO of Fat Prophets Angus Geddes says. Not one to mince words, Mr Geddes also agreed with my sentiment. “I would not be touching them [Sydney, Melbourne, London, Auckland] at current elevated levels with a barge pole.” Along with Andrew Wilson, property economist from ‘Domain’ is similarly upbeat about the Gold Coast.
But of course 9 million people (Sydney and Melbourne) deserve a lot of attention, and for the past two years they have spoken. But ponder this.
For every $600,000 I’ve seen make $850,000 in Sydney, I’ll show a better deal with even more upside in Brisbane or the Gold Coast. Acknowledging that the next two years are expected to be bullish for these cities, this has not precluded great profits over the past two year either. A client of ours bought a unit 15 months ago in Kent St New Farm (Brisbane), for $343,500 (2/1/1) in a small block of six. Another apartment in the same small building (of comparable merit and amenity) just sold for $450,000, an almost 25% gain in equity for our client. Given the small entry costs, higher rental yield and continual expected growth going forward... I know what I’d prefer. To eke out the same gains in Sydney, an investment of double that size is necessary (notwithstanding that I think the average priced investment gains are over anyway!)
Similarly, a Gold Coast property boom, for all its volatility... is a truly remarkable thing to participate in for three years out of 10. Now is the season where larger developers move into the Coast and pick up the last big land holdings while they’re still cheap. In the past six weeks, six clients of ours have experienced gains in excess of 100% for their venture into the Gold Coast less than two years ago...when there was blood on the floor. To cite the most profitable deal - a client of ours paid $165,000 some 24 months ago sold for $500,000 to a developer into the well publicised Banyan Tree Resort consolidation of some $50 million. Our buyers agents located four clients in this block, and by all indicators at the time I’d like to think it was an obvious position we took in identifying this site as a likely future development site. But it does make you then wonder what could have induced the seller to sell two years ago; with a rental return of $250 per week and a low body corporate fees in such a site rife with potential.
Clearly, the factor here wasn't a fundamental one...but a psychological one.
Predictions
As the property market recovery turns now to the smaller cities, I expect to see larger profits on smaller outlays on the Gold Coast and Brisbane. Some time ahead should see the regionals follow suit, albeit with a much higher risk proposition.
While now being very bearish on Greater Sydney and Melbourne average priced properties, I expect the premium markets to thrive. It’s universally understood and historically shown that this is the way markets mature within each cycle. Markets recover in a financial sense from the “bottom up”. That is, everything that’s cheap... flies first. And in a geographical sense, the market moves from ‘in and out’. That is, from an ‘epicentre’ (high density urban) out into the out suburbs, and finally to the fringes. Also known as... ”the ripple effect.”
Stop thinking about where the money was made. Start wondering where the money will be made next.
I’ll expand on the ‘ripple effect’ in the next article and show the average investor how to truly beat the market to the next property profits. I’ll also briefly touch on the much revered “Chinese investor” and the oft-misinterpreted truth about why Chinese investment is healthy, but why it isn’t going to change your property price over the long term by any more than $1,000!
Gavin McPherson is the chief executive of <a href="https://www.oasisproperty.com.au/" target="_blank">Oasis Property Group</a>. 
His book, 'Value Investing in Property - What would Warren Buffet do if he was buying property in Australia?', takes aim at the get rich quick property experts and explains instead the sturdy path to wealth through value investing in property. 
As a buyer’s agent, Gavin and his offices have assisted over 2,000 plus property transactions valued at well over $2 billion.
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Average investors get average results: Gavin McPherson

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GUEST OBSERVATION
New Sydney flats will have to be bigger, <a href="https://www.afr.com/real-estate/residential/ruling-could-make-sydney-apartments-bigger-and-more-expensive-20150414-1mjpmk" target="_blank">the NSW Land and Environment Court ruled last week,</a> overturning long accepted common practice allowing minimum one-bedroom unit sizes at 50 square metres.
Dual-aspect flats must be a minimum 58 square metres and more common single-aspect flats 73.4 square metres.
Property observers have been watching the steady shrinking of highrise flats with some alarm. This isn’t about dizzy planners imposing costs on struggling home buyers, this is about permanent additions to our housing stock and how useful they are.
Highrise reinforced concrete buildings are <a href="https://www.theage.com.au/victoria/melbournes-new-wave-of-skyscrapers-could-survive-100-years-20150318-1m1dmx" target="_blank">very hard if not impossible to change</a>.
The one bedroom flats are mostly being sold to investors who have no intention of living in them. They are the developers’ customers, not the occupants.
In theory, two cramped flats could be amalgamated to make a single spacious one. Sadly the numbers go against this. Putting two $350,000 flats into one worth $600,000 makes no financial sense. The next buyer will simply reverse this and pocket the sacrifice. This is why minimum standards are so important.
Meanwhile, the average size of a <a href="https://www.oliverhume.com.au/news/melbourne-new-apartment-sizes-shrinking-again" target="_blank">new one bedroom flat in Melbourne</a> has fallen to 44 square metres and two bedders to 59 square metre. Smaller flats aren’t cheaper – the savings are simply capitalised into higher land prices on all future developments.
There were moves last year to establish minimum standards in Melbourne, with former Coalition Planning Minister, now Opposition Leader, <a href="https://www.theage.com.au/victoria/strict-new-rules-for-highrise-apartments-on-table-20140723-zw4qk">Matthew Guy making encouraging noises</a>, however implausably, but vanished with the election of the Andrews ALP government.
There is a democracy lesson in all this. If the bureaucracy can’t act and the parliament won’t, the judiciary must – which is why the NSW Land and Environment Court ruled on minimum flat sizes.
David Collyer is policy director of <a href="https://www.prosper.org.au/" target="_blank">Prosper Australia</a>.
David ran as a Senate candidate for the Australian Democrats in the 2013 federal election.
This article first appeared on Prosper's website.
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Sydney apartment size ruling a lesson in democracy: David Collyer

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A group of seven petrol stations were on offer at today's Burgess Rawson investment portfolio auction.
Crown Casino's River Room filled with investors keen to snap up a petrol station or one of the 13 other commercial properties on offer.
The first petrol station to go under the hammer with auctioneer David Scholes was a Woolworths Caltex in the Western Australian town of Katanning.
A rather optimistic first bid was put in at $400,000, which was quite firmly rejected by Scholes.
"You have to start somewhere," mumbled the embarrassed under bidder.
The more realistic starting bid was placed at $900,000, and a group of competing bidders from Melbourne, Sydney and Western Australia brought the price to $1.03 million, often at a pace of $5,000 per bid.
The Katanning petrol station at <a href="https://www.realcommercial.com.au/property-offices-wa-katanning-501493547" target="_blank">137-139 Clive Street</a> (pictured above), which brings in $56,818 per annum, was sold on a 5.52% yield. Woolworths have recently signed a 15 year lease.
The next petrol station up for auction was also leased by Woolworths Caltex. Located at<a href="https://www.commercialview.com.au/565-581-sydney-road-coburg-vic/commercial-for-sale-details-8514182" target="_blank"> 565-581 Sydney Road in Victoria's Coburg</a>, the site brings in $253,758 per year, with Scholes noting that more than 32,000 vehicles pass by the service station daily.
Woolworths signed a 15 year lease for the site in 2012. The 1,858 square metre property, Scholes noted, is nearly opposite the former Pentridge Prison, where an apartment development is being planned.
Bidding officially began at $3.8 million after a rejected $2.75 million starting bid, before stalling at $4.15 million. After some consultation, a vendor bid was placed at $4.5 million, which was matched by a bidder. The Coburg petrol station was secured at a 5.64% yield.
Next on the auction block was a Coles Express petrol station in Queensland's Ayr. Located about 85 kilometres south of Townsville, the Coles Express at <a href="https://www.burgessrawson.com.au/3P0992#.VS3sfIWM54s" target="_blank">140-132 Edwards Street</a> (Bruce Highway) on a corner site, the 2,015 square metre property came with development approval for a fast food outlet.
Coles Express pay $288,400 net per annum in rent, with fixed 3% annual rental increases.
Scholes suggested that bidders from Brisbane, Sydney and Melbourne begin at $4 million, and a small group of bidders slowly pushed the price upwards past $5 million. After a tight bidding volley between a Sydney and Melbourne bidder, the winning $5.1 million bid from a Sydney investor saw the Melbourne hopeful walk out of the room.
The Coles Express sold at a 5.65% yield.
The vendors of the next Queensland petrol station to be auctioned weren't quite so lucky.
The Shell SPAR Express in Bundaberg, at <a href="https://www.burgessrawson.com.au/4P0146#.VS3uPIWM54s" target="_blank">15 Scotland Street</a>, was passed in after subdued interest from the crowd.
The corner petrol station site, which includes a 378 square metre SPAR convenience supermarket, brings in $337,459 per annum in rent. The tenant has signed a 20 year lease to 2032, with a fixed rental increase of 4% per year.
While Scholes attempted to entice bidders to enter the race at $4.5 million, the first bid was placed at $4 million. After just a handful of bids, the bidding stalled around $4.5 million. It was passed in at $4,525,000.
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Mixed result for petrol station sales at portfolio auction

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A private Melbourne investor has purchased the Williams Landing Masters store for $36 million.
It was bought from listed property company Cedar Woods through CBRE agents Mark Wizel and Justin Dowers. 
The Masters home improvement store was sold with a 20-year net lease, 100% guaranteed by Woolworths and returning a net income of over $2 million.
Click to open in new window:
<a href="/images/2015/04/15/cbre-apirl1-5b-re.jpg" target="_blank"><img src="/images/2015/04/15/cbre-apirl1-5b-re.jpg" alt=""></a>
Reflecting a yield of 6%, the sale of the not yet two year old store represented the strongest yield ever achieved for a hardware store in Australia.
“We were really taken back at both the depth of offers and aggressive nature of bidders for this asset,” Wizel said. He noting other recent Masters store sales included Dandenong, Western Australia and Penrith all achieved yields of between 6.75% and 7%.
“The latest sale at 6% shows the significant increased confidence that buyers have in the Masters covenant and the longer term outlook from investors in relation to the Masters platform as a business,” Wizel commented.
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CBRE nail strongest yield yet for Masters Hardware offering

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A sports medicine centre on Bay Street in Brighton sold to an investor for $3.37 million today.
A packed room at Burgess Rawson's investment portfolio auction at Crown Casino watched a handful of bidders take <a href="https://www.burgessrawson.com.au/3P0991#.VS3i0YWM54s" target="_blank">441 Bay Street, Brighton</a>'s price from $2.8 million to $3.37 million.
"Don't think of the yields, think of the position," auctioneer David Scholes urged a handful of potential buyers as bidding slowed to $5,000 increments.
The 1,030 square metre site has been leased to Brighton Spinal Group for more than 16 years. Currently, it attracts $143,402 net income per annum, with annual fixed increases of 3%.
The building comprises a Victorian at the front with a two level contemporary extension at the rear. It includes 11 consulting rooms and a large gym.
Scholes noted the large site's potential for further development, subject to council approval. The medical centre, marketed by Jamie Perlinger and Ben Appell of Burgess Rawson, sold at a 4.26% yield.
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Brighton medical centre sells for $3.37 million on 4.3% yield

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Raine &amp; Horne Commercial WA secured $4 million worth of land sales at the Northlink Industrial Park last week.
It has now sold 83 lots over three stages at Northlink, marketed as the last significant industrial land opportunity located within the inner suburbs of Perth’s rapidly growing north western corridor.
The Raine &amp; Horne selling agent, Anthony Vulinovich said the industrial estate, situated in Wangara and Gnangara, was a premium industrial location with strong amenity for businesses and their employees.
<img src="/images/2015/04/15/Northlink%20001.jpg" alt="">
Due to the strong demand and the limited number of remaining lots in Stage 3, the developer, Linc Property, has brought forward the release of Stage 4. 
The flexible lot sizes range from 1,100 square metres to three hectares, with prices between $300 and $390 per square metre.
The release of the final stage will be split into two phases, with Stage 4A now selling on the open market.
Civil works are well underway with titles expected as early as April 2015, according to Vulinovich.
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WA's Northlink industrial estate secures 83rd lot sale

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UBS analysts suggest an internal candidate is likely to replace outgoing GPT chief executive Michael Cameron.
They have been pinpointed its chief investment officer Carmel Hourigan, chief financial officer Mark Fookes and head of funds management Nicholas Harris as likely candidates.
An internal succession plan underway for some time needs to be possibly activated given Michael Cameron's exit to Suncorp.
As rumours rise and get shot down, the DEXUS chief executive Darren Steinberg says his group had no interest in merging with GPT.
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Internal succession likely following Michael Cameron's GPT departure

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Sydney's Burgess Rawson portfolio auction secured $43 million worth of property sales yesterday with yields as low as 4.5%.
Of the 19 NSW properties, auctioneer David Scholes knocked down 11.
<a href="https://www.burgessrawson.com.au/2P0932#.VS3Zy3pMLu0" target="_blank">The Double Bay offering</a> sold to an offshore Chinese buyer for $13.1 million reflecting a yield of 4.8%. There are long standing anchor tenant, ANZ – with options to 2033 on one of the largest blocks of land on 7-9 Knox Street.
The 478 square metre property, still known as Kennedy House, given the retail outlet of the luxury jewellery retailers the Kennedy family.
It has a 778 square metre net lettable area with a value add FSR 2.5:1 potential.
Most of the tenants were on annual 4% rent increases with a current net income of $628,576 per annum plus GST.
Burgess Rawson agent Michael Gilbert marketed the property in conjunction with Allan Levy of Metro Commercial.
Gilbert told the Australian Financial Review a third of contract requests had come from Chinese buyers. 
The ANZ Banking Group initially leased a 372 square metre space from the then landlords Louis Kennedy and Andrew Curtis at $420,000 a year in rent in the late 1980s, in a deal that equated to about $1,130 a square metre.
Mark Foys was previously paying $132,000 a year for the building which had been bought by the Kennedy family in the late 1970s when the rent was $87,000.
Louis Kennedy, the man who brought glomesh handbags to Australia, died in 2008 aged 83.
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