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

<html><body>
GUEST OBSERVATION
Since the start of quantitative easing in the US and UK in the aftermath of the global financial crisis, yields on fixed interest investments have fallen significantly.
This has encouraged investors to seek investments with higher yields. One of the attractive asset classes has been real estate investment trusts (AREITs). AREITs provide both attractive yields and prospective capital growth.
What Attractions?
AREITs have a history of providing investors with strong and growing distribution income through growth in rental income. Investors have been embracing REITs in recent years for their attractive income yields.
Table 1 compares the income return of AREITs and the 10 year Australian government bond yield for 15 years to 31 December 2014. The average income yield of AREITs over 15 years to 31 December 2014 is 1.6% higher than that of the average10 year government bond yield.
Table 1- AREITs Income Yield vs Government Bond Yield – 15 Years
<table style="width: 455px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="285">
 
</td>
<td valign="bottom" nowrap width="170">
Average Yield (%)
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="285">
AREITs
</td>
<td valign="bottom" nowrap width="170">
6.8
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="285">
10 Year Government Bond
</td>
<td valign="bottom" nowrap width="170">
5.2
</td>
</tr>
</tbody></table>
In the current environment, AREITs provides attractive absolute earnings yields of 6.0% and a margin of 3.0% over the 10 year government bond yield. Chart 1 compares the AREITs earnings yield and 10 year government bond yield. AREITs have been providing significantly higher earnings yields than that of the 10 year government bond since March 2011.
Chart 1 – Australian Listed Property Earnings Yield vs Government Bond Yield
<img src="/images/2015/03/04/nui%20mar%204%20one.png" alt="">
Source: RBA, IRESS
In addition to yield, investors have benefited from capital gains. Large numbers of investors who have found the yields from AREITs attractive have invested in listed property trusts, pushing up AREITs prices. Over the one year period to 31 January 2015, the AREITs price has risen by 29.1%.
When Interest Rates Rise?
Investors will be concerned that AREITs will become less attractive when interest rates rise. While we acknowledge that this is a valid concern, there are some offsetting factors.
Firstly, although higher interest rates will cause higher costs of borrowing, the rise of interest rates is also a signal of a strengthening economy. Higher growth in the economy will increase the demand for commercial real estate, improve occupancy rates and rental income. Hence, any increase in cost of borrowing may be offset by the landlord’s ability to raise rental rates, which will flow through to higher distributions to investors.
Secondly, the AREITs sector today does not show the same risky characteristics as it did during the GFC. Table 2 below shows that AREITs, on average, have reduced their gearing levels, as measured by debt/asset ratios, since the GFC. The highly geared trusts, which are more likely to suffer from negative cash flow impacts when interest rates rise, are less exposed than in 2009. It is believed that the burden of rising interest rates on AREITs will be much less.
Table 2- AREITs - Average Gearing Levels
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="171">
 
</td>
<td valign="bottom" nowrap width="132">
GFC 
(Dec-09)
</td>
<td valign="bottom" nowrap width="113">
Current 
(Dec-14)
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="171">
Average Gearing (%)
</td>
<td valign="bottom" nowrap width="132">
34.0%
</td>
<td valign="bottom" nowrap width="113">
30.0 %
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="171">
Gearing Range (%)
</td>
<td valign="bottom" nowrap width="132">
24.0% - 61.0%
</td>
<td valign="bottom" nowrap width="113">
0%-40.9 %
</td>
</tr>
</tbody></table>
Source: UBS, ASX
Moreover, the spread between AREITs earnings yields and 10-year government bond yields remains wide. This point is demonstrated in Chart 2 by comparing the margin of the current earnings yield of AREITs with 10 year government bond yield and the long-term average. The current margin of 3.0% is above the long term average of 2.2%, which provides a buffer when interest rates rise.
Chart 2 –Property Earnings Yield vs Bond Yield - Margin
<img src="/images/2015/03/04/nui%20mar%204%20twol.png" alt="">
Source: UBS, IRESS
Interest rates have remained low for a long time. AREITs provide stable income and prospective capital growth. When interest rates rise, investors still have some support from rising rents, the wide yield spread and the lower gearing levels. Prices may fall but only marginally.
Ming Niu is an analyst at <a href="https://atchison.com.au/" target="_blank">Atchison Consultants</a>.
This article has been updated since initial publication.
</body></html>

mniu-gkBe4pvnDQ

Will AREITs remain attractive once interest rates start to rise? Ming Niu

<html><body>
After several decades working in this industry, I often get asked for advice.
I am referring to the casual questions that family, friends and associates ask me, such as: ‘I am looking to buy an apartment, where should I buy and what should I pay?’ or ‘I have been watching prices increase, do you think they’re getting out of control and may soon fall?’ and another common question – ‘Should I buy off the plan or an established apartment?’
Now in today’s fast moving market, these sorts of simple questions are loaded with so many options, because circumstances will be very different for each person. But if I stop and think about these questions, which I do, then I think that we tend to pay a lot of attention, possibly too much so to the big picture issues.
Like reflecting on interest rates, which has now turned into an almost never-ending narrative, or if there is an oversupply or too little supply and the constant reporting of auction results. I think that we forget about the basics. Buyers start to concentrate on the big picture instead of simply concentrating on their own plans and needs, the whole buying process becomes hard work, and it needn’t be.
For almost anyone looking to buy, even in the current market I would always suggest starting with the basics. Not being driven by constant media headlines, but concentrate more on what you as a potential buyer want, what are you looking for in your purchase, what are your immediate needs and plans for the future?
I think the same rules and basic ideas apply if you’re a first time buyer, a second or third time buyer or seasoned investor.
Just what are the basics? Nothing surprising really, but I would suggest: finance (your budget), location, timing and a hard-nosed view on the ‘must-haves’ in your property search. I think in that exact and, I suggest, somewhat logical order. This short list will I think serve any buyer well no matter their individual circumstances, so let’s look at each individually.
<ul>
<li>Finance</li>
</ul>
This is a subject that none of us, except possibly a very lucky Lotto winner can ever escape, the available finance or budget for any purchase is the essential starting point. It’s a topic that any buyer very likely thinks about the most, but I feel it’s important to appreciate that there’s lots of help and options available. Plan your finances and always think well beyond today, take into account the ups and downs, which might happen, in your personal affairs.
But above all, get as much information as you can. From the feedback I get, this is something that every buyer does appear to do these days. Lenders are keener than ever for your business, and help to find the best loan is free.
Right now we have the lowest interest rates since 1959. So plan your finances to take the maximum advantage of competitive rates, but keep in mind that rates will almost certainly go up sometime in the future. So make the best of the prevailing conditions.
If you lock in a three year or five year term, make sure that you still have the ability to make additional repayments, now while rates are low, and always keep in mind add-on costs like stamp duty, legal fees, moving costs, the possible need for temporary accommodation and be aware of any fees that attach to your home loan. Look beyond the headline details and understand the fine detail of your finances, that’s my basic point here, don’t only concentrate on the interest rate.
<ul>
<li>Location</li>
</ul>
When it comes to location, above all I think it pays to be flexible because it can be easy to become fixated about a particular location, and if this happens early in your search, the location can become an unnecessary roadblock. Again, take time to explore options because the ideal option might just be in an area or suburb you have previously overlooked.
The key points of any location often revolve around access to transport and facilities, but there could well be options if you take a flexible approach. As different governments start to roll out new infrastructure many areas will change over the next few years. If for example you want to live close to rail connections, an option might be the drive and park facilities.
Schools and shopping can also be important, the right school can be a tough one, but with many larger shops in particular supermarkets virtually now open 24/7, can you be more flexible? And it pays to be aware of what future developments might be coming to an area that may well add future value.
For apartment buyers open space is also a key point of location. Today many new developments are very well planned and designed with very attractive indoor and outdoor spaces, so when considering location take a close look at what’s on offer with individual projects.
<ul>
<li>Timing</li>
</ul>
Now I think that timing might just be one of those areas that you end up with possibly having the least amount of control over. In the housing market the most common reason to move house is usually associated with family formation. Marriage, living together, having kids, a divorce or retirement, in reality a variety of circumstances will bring buyers into the market.
Sometimes these things might sneak up on some of us, but generally timing of a move should not be allowed to become that critical that it forces you to buy or sell with little time to plan. If you’re in a buyers market, there’s possibly less pressure but even if the market is a sellers market plan your move to suit your own timeline and avoid over commitment of your finances in order to try and beat the market, that might just create more problems in the future.
<ul>
<li>Must Haves</li>
</ul>
This area involves possibly the most heart-burn, the most emotion, where dreams and reality may at times hit a bump. Responding to a marketing headline of ‘Inspired Design’ might be great for us in the business, but for buyers it pays to make sure again that you do not limit your choices.
Any new apartment needs to fit your lifestyle, your aspirations, I understand that, but always aim to sign-off on the basics first, like the number of bedrooms, do you need parking, or is a secure storeroom more important. A good outdoor area, a balcony, terrace or courtyard will always be high on the list of must haves for many buyers. Driven in part out of the reality that in some markets apartments are more compact but I think are generally well-designed.
However today the open plan approach to apartment design really does work to accommodate the living arrangement of most buyers, this creates flexibility. And if you’re buying off the plan there’s often a choice of interiors, finishes and colour schemes.
Kitchens and bathrooms are now attractive spaces, kitchens are evolving into almost bespoke pieces of furniture in their own right – but if everything is not perfect, think about the options you might change. Balance a good location against possible interior changes or furniture options that you can make.
Also keep in mind things like privacy and natural light, and aspect and sunshine because in the rush for the designer-finish these simple things can be overlooked and they can make a great deal of difference to the appeal of an apartment in the long run.
<ul>
<li>It’s Your Home</li>
</ul>
When looking to buy I think it’s important to work to your own timetable, explore all of the options of finance and location and take charge of what should be an exciting time.
Try not to be distracted too much by the big-picture because the market is still full of different options. Your final choice might end up being different from what you had first thought of as your ideal home, it might just be better! My suggestion is concentrate on the basics.
</body></html>

pchittenden-eLqUUC8TWW

The five basics of the property search: Peter Chittenden

<html><body>
As Australia faces the reality of life after its mining boom, now more than ever it’s vital that we embark on a path of prosperity and sound government – just don’t hold your breath (just yet).
First and foremost it’s imperative that NSW embarks on the greatest infrastructure expenditure in the state’s history – at the end of the day the upcoming election is all about economic reform. 
Based on the recent election results in Victoria and Queensland the word ‘privatisation’ has indeed become a dirty word. In the case of the Baird government strategy the proceeds from the sale of state ownership of the electricity network would be directed to the generation of pivotal capital works projects and not state debt reduction.
A 2013 report on the Electricity Network Regulation the Productivity Commission announced that electricity prices had risen 70% in real terms over the previous five years with structural problems most apparent in NSW. The Productivity Commission went on to say: “There are strong arguments for privatisation of those businesses. There is no evidence that the productivity, reliability, quality or cost performance of private – sector electricity network businesses is worse than their public sector equivalents. To the contrary, the evidence in Australia and internationally suggests that such private sector enterprises are more efficient.”
NSW Labor proposes to tax business more then cut and defer major projects whilst doing next to nothing to fix congestion in Sydney. Congestion is exactly what determines property prices in Sydney, which is why I have said if you own real estate within a 10 kilometre radius of the Sydney CBD you have nothing to worry about.
A recent report commissioned by the Property Council of NSW has found that Sydney is facing a housing crisis with an additional 190,000 homes needed to be constructed over the next 10 years. The report identified that since 2005 an average of just 17,002 homes had been approved by Sydney’s 43 councils each year. From a business perspective you’re not going to attract new housing projects unless you are rolling out massive new infrastructure community platforms.
<a href="https://www.rwm.com.au/files/2015/02/23-02-2015-9-11-41-AM.jpg"><img class="aligncenter size-full wp-image-389483" src="https://www.rwm.com.au/files/2015/02/23-02-2015-9-11-41-AM.jpg" alt="23-02-2015 9-11-41 AM" width="463" height="477"></a>
The above graph clearly identifies what happens to property prices when you’re closer to the CBD and highlights what happens when governments drop crucial infrastructure spending – <a href="https://www.businessspectator.com.au/article/2015/2/23/infrastructure/australias-train-nowhere" target="_blank" title="Australia’s train to nowhere. ">Australia’s train to nowhere. </a>More than anything we see glaring highlights as to what happens when governments fail to invest in crucial areas such as public transport. As a result house prices to those areas located within that crucial 10 kilometre radius of the CBD skyrocket.
NSW faces an additional 1.600 million people requiring housing over the next two decades – which in itself explains why now more than ever before infrastructure has to be the key ingredient into guaranteeing NSW’s prosperity into the future. Privatisation should not be a dirty word rather the dirty word clearly is lack of infrastructure spending by past NSW governments.
Sydney must absorb Newcastle, Wollongong and western Sydney into its business model by creating a world class metropolis. Given what’s been achieved in other countries there is no excuse why Sydney does not have a very fast train that connects all the cities.
Given that investors today are getting next to no return given the record low cash rate – investors can purchase syndicates that would allow them to invest in infrastructure projects <a href="https://www.businessspectator.com.au/article/2015/2/25/infrastructure/neat-fix-politics-infrastructure-funding" target="_blank" title="a neat fix to the politics of infrastructure funding.">a neat fix to the politics of infrastructure funding.</a>
Given that the self-managed superannuation funds are driving investment property in NSW due to a lack of choice such a proposal to attract these funds with infrastructure investment is a brilliant and a long overdue alternative. Naturally the big superannuation funds want as much of this pie as they can get so the state governments must offer allocations to ensure that everyone has equal investment opportunities.
From an investment perspective NSW can easily offer thousands and thousands of critical infrastructure investment funds for investors to diversify as against relying solely on the real estate markets.
Of course nothing can happen if we have a change in government given the alternative is simply too scary to contemplate. If NSW had previously had a strong infrastructure platform property prices would be nowhere near as high as they are today.
If the Baird government is successful at next month’s election and they stick to their infrastructure platforms there is a strong possibility they could become the most successful government in NSW history.
</body></html>

robertsimeon-hRNTwJyXkQ

Next month’s NSW election is the most important ever: Robert Simeon

<html><body>
GUEST OBSERVATION
Australia is in the midst of a structural economic change with the mining boom coming to an end as <a href="https://www.macrobusiness.com.au/2015/02/australian-investment-pipeline-falls/" target="_blank">investment in the sector falls</a>. Tourism has been <a href="https://www.budget.gov.au/2011-12/content/bp1/html/bp1_bst4-03.htm" target="_blank">promoted by government</a> as a key source of future economic growth, with some <a href="https://www.professionalplanner.com.au/featured-posts/2015/02/08/winners-and-losers-as-economy-changes-gears-34162/" target="_blank">media reports</a> already stating that tourism has started to recover. But will it really be that easy to shift back from a resource-dependent to a tourism-led economy?
Tourism and the resources sector have cyclically been key exports and drivers of economic growth in Australia. However, the last decade’s mining boom has <a href="https://www.tra.gov.au/documents/Economic-Industry/Economic_Impact_of_the_Current_Mining_Boom_on_the_Australian_Tourism_Industry_FINAL.pdf">negatively impacted</a> on the sector by inflating the exchange rate, increasing competition for labour and delivering a <a href="https://www.sciencedirect.com/science/article/pii/S016073831300159X" target="_blank">‘two-speed’ economy</a>.
During this boom, Australia’s resources sector has encroached on protected areas with iconic tourism attractions and protected areas, such as the <a href="/news">Great Barrier Reef</a>, increasing the risk of the region losing key assets that attract visitation. Importantly, the mining boom has heralded significant structural change in Australia’s economy, with little to no long-term planning for growth once it comes to an end.
A report by the <a href="/news">Griffith Institute for Tourism</a> has found that the transition back to tourism - particularly in regions that have become resource dependent - may be very difficult. Investigating two resource dependent regions in Queensland (Gladstone and Roma), the research found that the regions have become dependent on the resources sector and this has impacted tourism in many ways.
The key impacts of the boom in these regions include: reducing the tourism industry’s ability to attract and retain staff; increasing costs of accommodation, food and fuel for visitors and tourism employees; influencing tourism businesses to adapt to cater for the more lucrative resources sector workers (that is, installing dongas (portable buildings), building up-market motels, offering fine dining); reducing traditional tourism businesses profitability leading to their closure; and straining local infrastructure and support services upon which tourism depends.
The regions have reportedly suffered a decline in their aesthetics, reducing their appeal as tourism destinations. Combined with the busyness and limited amount of affordable accommodation, the traditional leisure markets now avoid or pass through the towns. In Gladstone the resources sector activity has also restricted visitor access to certain areas of the region and impacted on key natural assets that attract tourists, including the harbour and the Great Barrier Reef.
But probably the most concerning impact occurred in Roma, where there was a change in the strategic direction of the local council following the regional council amalgamations in 2008. Prior to the amalgamation, Roma was an example of regional tourism best practice, with a local tourism development officer working with the industry to develop products and market the region. Following the amalgamation, the council decided to grow the resources sector, which strengthened the sector’s capacity to do business in the region.
At the same time, the council struggled to understand and quantify the benefits of tourism, resulting in the revenue generated by tourism being viewed as inferior to the resources sector. The council’s shift in focus away from tourism led to a loss of tourism skills, advocacy and policy from the region. Since then, been very few new tourism developments and the existing tourism products have declined, deteriorated or adapted to service the resources sector.
Fortunately, the Council in Roma is now anticipating the end of the mining boom and have commenced efforts to rejuvenate tourism. However, this rejuvenation process might not be so simple or easy. <a href="https://www.propertyobserver.com.au/https://www.sciencedirect.com/science/article/pii/0261517794900892" target="_blank">Prior research </a> considering the rejuvenation of tourism following an oil and gas boom indicates that it can take a decade of significant product development and extensive marketing to attract the leisure tourist back to a region.
Another issue is that previously resource-dependent regions commonly attempt to attract high-yield tourists and <a href="https://www.propertyobserver.com.au/https://www.sciencedirect.com/science/article/pii/0160738395000615" target="_blank">re-image the region</a> by marketing the destination as dynamic and multi-cultural. This can reduce differentiation between destinations and undermine competitiveness.
This regional picture gives a glimpse to the challenges facing tourism nationally. Shifting the economy back towards tourism may be more difficult than expected. It’s not enough to just market Australia – significant reimaging will need to occur to change the perceptions tourists now have of Australia and its resource-dependent regions.
In addition, without good products and services, which have declined during the mining boom, the tourism industry will not be able to adequately service growing demand and there will be low levels of satisfaction.
Perhaps the most effective policy for ensuring tourism rejuvenation would have been to take a long-term perspective to development that recognised the value of tourism and developed strategies at the start of the mining boom to avoid the loss of valuable products, policy, expertise and skills. As it is, Australian tourism now faces an uphill battle.
Char-lee McLennan is research fellow, sustainable tourism at Griffith University.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
</body></html>

Char-leeMcLennan-qzrkbjqmWu

Moving from resources to tourism is a bigger leap than we think: Char-lee McLennan

<html><body>
GUEST OBSERVATION
Sydney is a city grinding to a halt, with the worst traffic congestion anywhere in Australia.
Our new analysis reveals that over the decade to 2012, the proportion of full-time employees in Sydney who commute for more than 10 hours a week rose from 22% to 29%. Those workers are spending almost three full weeks a year just to get to and from work.
That is one of the new findings in our book, <a href="https://www.propertyobserver.com.au/https://www.mup.com.au/items/154135">City Limits: why Australia’s cities are broken and how we can fix them</a>, published today. It also shows that residents of large areas of outer Sydney have little choice about long commutes - and congested roads and crowded trains and buses are only symptoms of a much deeper problem facing Australia’s most populated city.
Broken cities
While some people are able to commute to their local area, a lack of local jobs means many have to travel further afield. In some suburbs, only <a href="https://grattan.edu.au/wp-content/uploads/2014/04/188_productive_cities.pdf">14% of the jobs</a> available in Sydney can be accessed in a 45-minute car trip. The situation is even worse if you’re reliant on public transport: many outer suburbs of Sydney offer access to <a href="https://grattan.edu.au/wp-content/uploads/2014/04/188_productive_cities.pdf">fewer than one in 10</a> of the city’s jobs within an hour on public transport.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73371/area14mp/image-20150301-16172-11rezwo.JPG"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73371/width668/image-20150301-16172-11rezwo.JPG" alt=""></a>
There is a visible different in labour force participation in Sydney, depending on where you live. Grattan Institute, Who lives where: Sydney Productive Cities: Supplementary Maps, May 2013, <a class="license" href="https://creativecommons.org/licenses/by/4.0/">CC BY</a>
Commuting can be stressful and unpleasant. Long drives caused by limited access to jobs and transport <a href="https://transportreform.org/file.php?fileID=143">add thousands of dollars a year</a> to household bills, and makes those households especially vulnerable to <a href="/news">petrol price rises</a>.
Poor access to jobs especially restricts the choices available to women. Because women still do most of the work looking after children or frail older people in Australian households, they are more likely than men to be constrained in how long they can commute for.
These pressures are opening up a big divide between women in the inner suburbs and those on the fringe.
Our research has shown that men and women in the eastern suburbs and inner west participate in the workforce at relatively similar levels. But in parts of Sydney’s outer west and south-west, women’s workforce participation falls to <a href="https://grattan.edu.au/wp-content/uploads/2014/04/189_who_lives_where_sydney.pdf">more than 20% below that of men</a>.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73370/area14mp/image-20150301-16182-1vmviyf.JPG"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73370/width668/image-20150301-16182-1vmviyf.JPG" alt=""></a>
 The gap between how many men are in paid work versus women in much greater in some parts of Sydney, especially in the west. Grattan Institute, Who lives where: Sydney Productive Cities: Supplementary Maps, May 2013, <a class="license" href="https://creativecommons.org/licenses/by/4.0/">CC BY</a>
Taking the heat out of Sydney’s housing market
Along with traffic, housing is a hot topic of conversation almost anywhere you go in Sydney.
High prices mean many younger people are locked out of home ownership that their parents took for granted.
One in four Australian households now rent their home, and many face punishing rents and some of the <a href="https://grattan.edu.au/wp-content/uploads/2014/03/800_Renovating_Housing.pdf">worst security of tenure in the developed world</a>.
<a href="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73374/area14mp/image-20150301-16188-x3qrul.JPG"><img src="https://62e528761d0685343e1c-f3d1b99a743ffa4142d9d7f1978d9686.ssl.cf2.rackcdn.com/files/73374/width668/image-20150301-16188-x3qrul.JPG" alt=""></a>
Australian renters typically have fewer rights and less security of tenure than in comparable nations. Grattan Institute, <a class="license" href="https://creativecommons.org/licenses/by/4.0/">CC BY</a>
For years, even decades, politicians have surrendered responsibility for addressing the rising pressures on city life. Yet they have a vital role to play. Most importantly, the state government can make it easier to build new homes in all parts of Sydney, especially established areas that have good access to jobs.
Making it much easier to build new homes would help improve access to jobs, and give people more meaningful choices about where they live and the kind of home they live in. Less convoluted planning and zoning rules and decision-making processes are essential.
But it’s also vital to have transparent standards for appropriate development, so that residents and communities know what is planned for their community and can have their say about it.
Politicians need to ensure their commitments have effective implementation mechanisms and are followed through.
Over the years, state governments from both sides of the political divide have made and broken too many promises to tackle housing affordability.
Similarly, Sydneysiders have lost count of how many promises to tackle traffic congestion, improve access to public transport or build new transport infrastructure have then not been delivered. Failing to deliver on commitments is a guaranteed way to let Sydney’s problems get worse.
Thinking beyond our own backyards
One reason that promises have fallen by the wayside is because delivering them has required trade-offs between different members of the community. Such trade-offs are inevitable anywhere there is a finite amount of land, and finite amounts of money to spend on transport.
One such trade-off is between local residents of inner and middle suburbs close to employment centres, who may prefer fewer new homes being added in their area, versus residents further out who face longer commutes, along with more traffic on the roads that everyone uses.
Trade-offs are required because the city can’t simply build its way out of this problem. Improving public transport and roads can make a big difference to many people’s lives. But there are limits to what the transport system can do, and new roads and train lines are very expensive.
There’s no perfect way to balance the kinds of difficult trade-offs involved in improving Sydney’s complex traffic, housing and other urban planning challenges.
But it is possible to do better. As overseas experience in cities such as Seattle, Vancouver and Portland shows, genuinely involving residents in making the trade-offs facing cities is essential to making improvements endure, and see <a href="https://grattan.edu.au/wp-content/uploads/2014/04/052_cities_who_decides.pdf">promises get delivered</a>.
State and local governments have a critical role in involving all residents in shaping their city’s future. So it’s incumbent on whoever wins this state election to involve the community more in making the hard decisions that are inevitable in tackling the challenges Sydney faces.
But Sydney’s problems are not just for politicians to solve.
Often people know that the status quo isn’t working, but resist the kinds of change in their local area that could turn things around. Sometimes that’s because residents feel it is being imposed on them, without having a say, and the only response is to resist, or pretend it can be avoided.
Yet resisting all change, such as opposing new apartment blocks in well-established suburbs blocks (regardless of their quality), risks backfiring on residents in the long-term. People are now seeing their own children and grandchildren forced to live far from where they grow up – and in a city as congested as Sydney, that means seeing family less often.
* City Limits: why Australia’s cities are broken and how we can fix them is <a href="https://www.propertyobserver.com.au/https://www.mup.com.au/items/154135" target="_blank">published today</a> by Melbourne University Press. <a href="https://grattan.edu.au/events/city-limits-book-launch-melbourne-and-sydney-events/" target="_blank">Register here</a> to attend a free launch event in Sydney on Thursday March 5.
Paul Donegan is a fellow at Grattan Institute.
Jane-Frances Kelly is program director, cities at Grattan Institute.
This article was originally published on <a href="https://theconversation.com">The Conversation</a>.
</body></html>

po-LsXgBTHBmX

Sydney’s stuck in traffic, putting the brakes on women and the west

<html><body>
The Koonawarra estate, some 24 acres of private established gardens in the Blue Mountains, has been listed as a rental estate.
It's located at Mount Wilson, a popular weekend destination for more than a century. A little corner of rural England in the middle of an ancient rainforest with special homes including Farcry, Sefton Hall, Donna Buang, Sefton Cottage, Dennarque, Campanella, Woodstock, Lindfield Park, Merrygarth, Yengo, Eastcote, Shasta Lodge, and Wynstay.
<img src="/images/2015/03/02/5.jpg" alt="">
<div title="Page 156">
<div>
<div>
The original Koonawarra gardens were designed during the 1880s by Charles Moore, who also designed the Sydney Botanic Gardens. 
The Scottish botanist Charles Moore, who trained at Kew and Regent's Park, arrived in Sydney in the Medway in 1848. He was in charge of the gardens until 1896.
</div>
</div>
</div>
The minimum lease term is six months at $1,800 a week through <a href="https://www.propertyobserver.com.au/https://www.lamingproperty.com.au/property/rental/6" target="_blank">Potts Point agent Lynette Laming</a>, so which two seasons?
<a href="https://www.reviewproperty.com.au/property/for-rent/house/nsw/mount-wilson/?adid=8000329&amp;sp=3" target="_blank">"Make memories at Koonawarra,"</a> she said.
As ever, our property contrarians Margie Blok and Jonathan Chancellor can't quite decide when best to go to take in the surrounds of English and European-style gardens, rainforest and mountain views. But they agree there will be plenty of mountain walks and long leisurely, sociable dinners.
HE SAID:<img src="/images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" width="130" height="195" style="float: right;">
It would make a wonderful winter retreat just two hours from Sydney, then staying on for spring.
I am happy to take Cherry Cottage, the one loft bedroom cottage for guests. It was all originally part of Dennarque.
Charles Moore, the first director of the Botanical Gardens, also designed nearby Yengo that features an exquisite walled garden, embellished with 16th-century Catalan wrought-iron work.
I'd really like to see snow too, and stay for spring to do all the walks - Waterfall Reserve, the rainforest pocket in Davies Lane, the Cathderal of Ferns, Pheasants Cave, Chinamans Hat and perhaps even the track to the Wollangambe River.
<img src="/images/2015/03/02/2.jpg" alt="">
<img src="/images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" width="130" height="195" style="float: left;">SHE SAID:
Koonawarra Cottage is the charming single storey three bedroom cottage with a large front verandah which looks out over the expansive parklike gardens.
Every window has garden views, as you'd expect. 
I have always throught Mount Wilson was best placed for autumn viewing. Especially this year to escape the prevailing humidity of Sydney.
This property also has a tennis court so imagine the sunny exercise you'd get before the chill sets in, and the days are spent in front of the fireplace.
I seem to recall it was formerly the home of Mr. and Mrs. J. R. Armitage in the 1960s, but I could chase all that up with a bit more study on the chilly nights.
I once read that the walk from one end of Mount Wilson to the other along avenues of beeches, plane trees, oaks, liquidambers and cherry trees can move even strong men to poetry.
Let's see.
<img src="/images/2015/03/02/3.jpg" alt="">
</body></html>

jchancellor-FAypfDUnLy

Which season for Koonawarra, Mount Wilson rental estate?

<html><body>
Billionaire investor Warren Buffett published his eagerly anticipated annual letter to shareholders of his company Berkshire Hathaway this weekend.
The letter is a <a href="https://www.smartcompany.com.au/finance/investment/41783-five-gems-from-warren-buffett-s-annual-shareholders-meeting">flagship event in the business calendar</a> as the investment guru updates shareholders on the company’s progress while dropping plenty of investment wisdom on the way.
The letter is published ahead of Berkshire Hathaway’s annual meeting, which Buffett refers to as “Woodstock for capitalists”.
Here are six pearls of wisdom from this year’s edition:
1. Beware of investment bankers
Buffett takes aim at investment bankers on Wall Street in his annual letter.
“The Street’s denizens are always ready to suspend disbelief when dubious manoeuvres are used to manufacture rising per-share earnings, particularly if these acrobatics produce mergers that generate huge fees for investment bankers.”
2. Don’t dawdle
Buffett acknowledged he stuffed up by being slow to sell shares of the British supermarket chain Tesco, which wound up costing Berkshire Hathaway $US 444 million.
“An attentive investor, I’m embarrassed to report, would have sold Tesco shares earlier,” he says. “I made a big mistake with this investment by dawdling. Charlie calls this sort of behavior ‘thumb-sucking.’ (Considering what my delay cost us, he is being kind.)”
Buffett noted the loss amounted to only 0.2% of Berkshire’s net worth.
3. The need for post mortems
The investment guru concedes that he has made mistakes along the way, particularly the use of Berkshire shares to purchase businesses with “limp” earnings.
“Mistakes of that kind are deadly. Trading shares of a wonderful business – which Berkshire most certainly is – for ownership of a so-so business irreparably destroys value,” he says. 
Buffett advocates post mortems of all acquisitions in order to determine “an elementary reality” whether the intrinsic value of the shares you give in an acquisition is less than the intrinsic value of the business you receive.
“I’ve yet to see an investment banker quantify this all-important math when he is presenting a stock-for-stock deal to the board of a potential acquirer,” he says.
“Post mortems of acquisitions, in which reality is honestly compared to the original projections, are rare in American boardrooms,” he says.
“They should instead be standard practice.”
4. Forget about the too-good-to-be-true bargain
Buffett recommends focusing on paying a fair price for top businesses rather than a bargain price for a mediocre business.
“Forget what you know about buying fair businesses at wonderful prices; instead, buy wonderful businesses at fair prices,” he says.  
5. Always have cash flow
Buffett revealed Berkshire Hathaway maintains $US20 billion in cash reserves at all time.
While that’s a little unrealistic for most small businesses, Buffett says cash reserves are key.
“At a healthy business, cash is sometimes thought of as something to be minimized – as an unproductive asset that acts as a drag on such markers as return on equity,” he says.
“Cash, though, is to a business as oxygen is to an individual: never thought about when it is present, the only thing in mind when it is absent.”
Buffett says that in 2008 when other businesses went under Berkshire was uninterrupted.
“When bills come due, only cash is legal tender. Don’t leave home without it.”
6. Work out your succession
While not naming names Buffett has assured shareholders he has the succession question well in hand at Berkshire Hathaway.
The investment guru says he and the board of directors “believe we now have the right person to succeed me as CEO,” and who in some respects “will do a better job than I am doing.”
Buffett also left open the prospect of a female chief executive saying, “Gender should never decide who becomes CEO.”
You can read Buffett’s <a href="https://www.berkshirehathaway.com/letters/2014ltr.pdf">letter to shareholders in full here</a>.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
</body></html>

cwaters-YrtBR88nBe

Six pearls of wisdom from Warren Buffett’s 2015 letter to shareholders

<html><body>
GUEST OBSERVATION
The Abbott government’s lurch at a foreign investment fee to fund the Foreign Investment Review Board (FIRB) will be a minor inconvenience. 
“There is significant global evidence from recent times including Canada, Singapore and Hong Kong where these types of taxes on foreign investment have been totally counterproductive, caused significant corrections within the markets and harmed the construction industry” CBRE residential projects chairman Justin Brown was quoeted as saying in the <a href="https://www.afr.com/p/national/politics/foreign_property_buyers_to_pay_approval_TnnDgOvoNycdqw7V5urAAN" target="_blank">AFR</a>.
The response from the real estate sector has been typical. 
Whilst we are supportive of some traction towards the taxation of excessive real estate profits, the 1% charge will mean little in comparison to last year's capital gains.
As outlined in <a href="https://www.prosper.org.au/2015/02/24/the-foreign-investment-future/" target="_blank">the foreign investment future</a>, the average $3,375,000 FIRB approved investments last year would pay a foreign investment fee of $33,750. The capital gains were running at $229,500. Such a fee will not break the bank.
In that same post I mentioned how effective Singapore’s foreign investment fee of 18% was in maintaining the public interest – low land prices. The property lobby have convinced the news cycle that rising property prices are a good thing. They are if you are a property seller or a bank. For the public this means rising debts and thus interest payments.
We do however see merit in the commentary of Ray White chairman Brian White in comparing such a charge as a stamp-duty like charge. Such a foreign investment fee will curb some demand, impeding turnover.
However, it is likely to be minor as the above capital gains to foreign investment fee comparison demonstrates. Treasurer Hockey was adamant the fee was purely an administrative one so that the FIRB could do its job.
Only $200 million is needed yearly to fund an expanded FIRB. <a href="https://www.firb.gov.au/content/default.asp" target="_blank">Will we get a new website for that?</a> The relative size of such fundraising is again minor to the <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6416.0" target="_blank">$418 billion in land price increases in the 13-14 year.</a>
After a minor skirmish, we expect this will have little imposition on the global land bubble. The fact it is set at a much lower rate than Hong Kong and Singapore ensures global investors will still be set upon buying up locations of inspiring natural beauty.
If the government knew what they were doing, a Federal Land Value Tax would be reimposed nearly <a href="https://en.wikipedia.org/wiki/Australian_Taxation_Office#History" target="_blank">100 years since our first federal tax was announced</a>. Accompanying this would be a significant 5-10% income tax deduction and a doubling of the pension. The LVT would curb speculative foreign investment, reigniting the Australian creative spirit alongside lower land prices and a lower tax burden for all.
Karl Fiztgerald is project director of <a href="https://www.prosper.org.au/" target="_blank">Prosper Australia</a>.
This article first appeared on Prosper's website.
</body></html>

KarlFitzgerald-5HzVbxHhJb

Foreign investment fee will only be a minor inconvenience: Karl Fitzgerald

<html><body>
Australian restaurant Granger &amp; Co has secured its third London site.
It is in King's Cross, a 2,500 square foot restaurant site in restored industrial dwellings known as the Stanley Building, at 7 St Pancras Square.
The new site adds to their existing London sites in Clerkenwell and Notting Hill. The third outlet, not far from Google, will be opening in late spring. The 86-cover restaurant will offer all-day dining and take-out coffee.
Bill Granger also operates restaurants worldwide in Tokyo, Honolulu and Seoul.
Bill Granger, the Darlinghurst chef, restaurateur and food writer, and his wife Natalie Elliott recently sold their Bronte house.
Bills Bondi at 79 Hall Street, Bondi was the recent new addition to his stable of restaurants around the world.
Bill Granger got his training at the iconic La Passion du Fruit on Paddington's Oxford Street after hailing from Melbourne. 
The La Passion proprietors Chrissie Juillet and Jean-Claude Wane had that communal sense of a family kitchen table interaction at the cafe, which Granger replicated when he opened the original Bills in the Sydney suburb of Darlinghurst in 1993, when he was 22.
His Queens Court, Woollahra restaurant recently closed, replaced by the vibrant Luxe.
Photograph courtesy of kingscross.co.uk. 
</body></html>

Bill Granger secures third London restaurant premises

<html><body>
The Killarney Vale couple Kara and Kyal Demmrich – contestants on Channel Nine's The Block Albert Park series – have bought again on the NSW Central Coast.
Their new home is a cottage at Bateau Bay in the Wyong municipality that cost $580,000, with the prize money they earnt coming in handy. 
<div id="description" class="stackItem">
It is an original cottage,<a href="https://www.realestate.com.au/property-house-nsw-bateau+bay-117226003" target="_blank"> </a>with a north facing front yard on a level 639 square metre block, within easy walk to Shelly and Blue Lagoon Beaches.  
</div>
They sold this week for $735,000 at Killarney Vale, which is five ams away from their next project.
They bought, then renovated their first home in 2008 having paid $285,000, after getting married in February 2007.
Agent Chantel Laing-Chadwick at George Brand Real Estate Avoca Beach/Copacabana described their recently sold house as an "architectural masterpiece".
Last year the couple appeared in The Block: Fans v Faves as the so-called Super Ks.
Around the time of the April Albert Park auction, the couple indicated they were planning to launch a boutique renovations company called Diverse Design and Construct.
The couple also suggested they were considering a move from their home in the Tuggerah Lakes precinct.
“We haven’t thought about it too seriously, but our long-term goal is to get ourselves as close to the coast as possible. So we’re thinking about selling, maybe in the next 12 months," Kyal told Property Observer.
The Super Ks were given the highest reserve of any apartment – $1.9 million – after a stellar number of winning challenges and room reveals.
But they finished third behind Steve and Chantelle and Alisa and Lysandra on auction day.
They indicated they could pay off the mortgage with their $567,250 in prize money.
Bateau Bay's médian house price sits at <a href="/news">$500,000</a>, record levels, while Killarney Vale's median house price likewise tav record levels, but <a href="/news">$375,000</a>, according to CoreLogic RP Data.
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News