Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.

The proposal will now proceed to a full council vote on June 2.

The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;

The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" />

The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" />

“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.

“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.

“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”

<img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.

The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.

In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.

<img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" />

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.

DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.

“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.

The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.

At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

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 onetime bearish strategist at Morgan Stanley, Gerard Minack, has addressed his housing market concerns in his first expansive interview since he went solo 18 months ago.
"When we get across-the-board unemployment then we’ll get an across-the-board downturn in house prices; it’s just a matter of time," Morgan Stanley’s former head of global developed markets and now publisher of Downunder Daily advised when asked by the Australian Financial Review on how vulnerable the housing market is.
"I don’t think there’s anything exceptional about our housing market, except that we’ve gone 23 years without a downturn," he added.
"Far better to take some excess out of the market now."
On monetary policy he suggested "you either get nothing or more than two [cuts]".
"If the leading indicators of employment roll over, then for me recession is the most likely outcome," Minack said.
"We have national domestic demand growth of 1%. Here in NSW it’s 4.5% while in the rest of the country it’s falling.
"We know this year that residential investment will contribute less to growth, we know car workers will start to get fired.
"We know mining capex starts to accelerate to the downside.
"The one thing that looks half-good are leading indicators of employment.
"The ANZ and ABS jobs ads, and the components of the monthly purchasing managers index, look OK.
"But if they roll over we’ve got a problem, and already we’ve seen them wobble, which is partly due to politics.
"One of the few areas of bipartisanship we’ve had over the past dozen years is both parties have agreed to be short term and second rate!"
When asked by the AFR's Patrick Commins what are the big global risks, Minack pointed to central bank credibility.
"If (European Central Bank president Mario) Draghi was a stock he’d be on a P/E of 200! (US Fed chair Janet) Yellen’s on 100.
"When that bubble pops, all hell will break loose again, and there you really just want to be in cash."
In October, Minack said while many people have been wrong calling a collapse in the Australian property market, he still saw the sector, along with investing in the major banks, as great risks to the economy in the year ahead.
“Australia has not had a housing bubble blow-up or a recession but let’s not forget at other times [market bears] have made money from it, so they are willing to give it another go.
"My advice is . . . I think it is a little too early. I think down the track this will be a problem.
"I’m not so sure you look for this to be a problem in Australia on a six-month view,” said Minack.
Minack's comments came just ahead of ANZ announcing its latest survey showed job advertisements rose a further 1.8% m/m in December to record their seventh consecutive monthly rise (in seasonally adjusted terms). 
Job ads have now trended higher for 14 months and are up 11.4% over the year to December.
The ANZ chief economist Warren Hogan said the data was an encouraging sign that labour demand was firming. 
"Annual growth in job advertisements is now at 11.4%, a moderate rate by historical standards but the fastest rate in over 3½ years. 
"The improving trend in job ads appears to be at odds with the official employment data which continues to depict a rising unemployment rate. 
"In all likelihood, this divergence can be explained by a higher than usual rate of job losses in the economy. 
"The good news is that the economy continues to produce new employment opportunities.
"The bad news is that this has not been quite enough to counteract the flow of new workers into the economy plus the on-going loss of jobs in certain sectors.”
“As a result labour market conditions can be described as soft which will continue to cap wage increases.
"Together with the recent decline in oil prices, this will feed through to relatively subdued inflation outcomes through 2015.
"For monetary policy, the most likely course remains for the RBA to keep rates in a holding pattern for most of 2015.
"However a softer inflation outlook suggests the RBA could have a little more wriggle room than previously anticipated to support business and consumer confidence.
"Right now we think the best course of action is for the RBA to maintain a steady hand on interest rates. 
"But with global energy costs falling substantially, and inflation likely to be lower than previously thought, there is increasing scope for Australian interest rates to fall a little over the first half of 2015,” Warren Hogan said.
 
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jchancellor-FAypfDUnLy

Unemployment the key in 2015 house price direction: Gerard Minack

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GUEST OBSERVATION
Australia’s private debt dynamics have been thoroughly <a href="https://www.macrobusiness.com.au/2014/10/australias-addiction-to-private-debt/">explored elsewhere</a>, but less well understood is the country’s position relative to the <a href="https://en.wikipedia.org/wiki/Organisation_for_Economic_Co-operation_and_Development" target="_blank">OECD</a> and <a href="https://en.wikipedia.org/wiki/BRIC" target="_blank">BRIC</a> nations.
Thankfully, the Bank for International Settlements (<a href="https://www.bis.org/" target="_blank">BIS</a>) provides a useful database of unconsolidated household, non-financial business and total sector debts to enable a meaningful comparison.
The difference between consolidated and unconsolidated debts is an important consideration. The former constitutes debt that is netted out within the sector, and only records debts owed to other sectors, while the latter is the actual debt a sector owes, irrespective of to whom. Unconsolidated debts are typically larger than consolidated debts.
Caution must be taken when using measures of consolidated debts as it assumes intra-sector solvency; an assumption the global financial crisis (GFC) revealed to be precarious. Consolidated debts disguise the risk of intra-sector debts that can metastasise and threaten financial stability.
In retrospect, Ireland, Spain and the US are three countries that clearly experienced debt-financed housing bubbles, thus providing a useful benchmark for comparison. Australia’s household debt to GDP ratio is clearly higher than both Spain and the US at their peaks, and remains only slightly below Ireland’s peak. <img src="https://www.macrobusiness.com.au/wp-content/uploads/2015/01/Egan_Soos_01.png" alt="">
In the BIS dataset comprising 34 nations, Australia has the unenviable status of ranking fourth-highest, only below that of Denmark, Switzerland and the Netherlands. Ironically, the pathology of financial capitalism drove the world’s leading social democratic state into accumulating the largest household debt ratio, peaking at close to 140% in Q2 2009.
A range of factors may have boosted the income flows of Danish households and enabled such accumulation: a low unemployment rate relative to the Eurozone nations, very low income inequality, the world’s highest minimum wage, and a generous social welfare system.
As of Q2 2014 (the latest available BIS data), the Netherlands is just 0.3% higher than Australia. As the former deleverages, Australia should rank third-highest by the next quarter. The ratios have remained stubbornly high in both Denmark and the Netherlands despite deleveraging, as their weak economies have resulted in falling nominal GDP (the denominator).
<img src="https://www.macrobusiness.com.au/wp-content/uploads/2015/01/Egan_Soos_02.png" alt="">
Australia’s total debt to GDP ratio peaked at 190% in Q2 2009, before falling slightly as the non-financial business debt ratio fell. As of Q2 2014, the total debt ratio was 189%, and is expected to set a new peak in the next quarter or so.
<img src="https://www.macrobusiness.com.au/wp-content/uploads/2015/01/Egan_Soos_03.png" alt="">
The following table lists the debt ratios for the OECD and BRIC nations. For some nations, household and non-financial business sector debts are not available, but total debt data are available for all. The non-financial business sector debt ratios are on the high end for Ireland, Luxembourg and the Netherlands, likely reflecting their generous international business taxation policies.
<img src="https://www.macrobusiness.com.au/wp-content/uploads/2015/01/Egan_Soos_04.png" alt="">
The BIS has done a commendable job in gathering long-term unconsolidated data from the OECD and BRIC nations and making it publicly available. It would be helpful if the data was further classified into categories of personal, mortgage and non-banking financial sector debt, as the latter is important when analysing banking and financial cycles.
As household debt has boomed exponentially over the last two decades, the savings of the household sector has plunged. According to the official household savings ratio provided by the ABS, it briefly became negative during the early 2000s, and then rebounded as the GFC shocked households into saving more. <img src="https://www.macrobusiness.com.au/wp-content/uploads/2015/01/EganSoos5.png" alt="">
In 2013, <a href="https://www.macrobusiness.com.au/2013/11/is-australias-high-household-savings-rate-an-illusion/" target="_blank">analysis</a> by Credit Suisse revealed that the official ratio included superannuation contributions and extra principal repayments, which arguably should not be counted as disposable savings. After controlling for these two artefacts, the ratio falls significantly, exhibiting a persistently negative trend since 1997.
The household sector’s savings situation is dire, as reported by <a href="https://www.mebank.com.au/media/1518946/213737-HFCR_FINAL-iPAD.pdf" target="_blank">ME Bank</a> in a 2014 report:
<ul>
<li>Only 46% of households reported the ability to save each month;</li>
<li>Only 32% would easily be able to raise $3,000 in an emergency;</li>
<li>50% aren’t confident they have enough savings to last if unemployed for three months;</li>
<li>35% reported having less than $1,000 cash on hand;</li>
<li>17% have less than $100 in savings;</li>
<li>60% have less than $10,000 in savings; and</li>
<li>In 2009, Australians were saving a median $300 per year (<a href="https://www.melbourneinstitute.com/downloads/hilda/Bibliography/Other_Publications/pre2010/AMP.NATSEM_Saving_Tomorrow_Report.pdf" target="_blank">AMP/NATSEM</a>).</li>
</ul>
Australia’s private sector is grossly over-indebted, especially the household sector. The hysteria surrounding Australia’s non-existent public budget ‘emergency’ is a smokescreen cloaking the critical household budget crisis. The fictional narrative concerning public debt arises from an unshakeable adherence to <a href="https://www.propertyobserver.com.au/https://www.amazon.com/Debunking-Economics-Revised-Expanded-Dethroned/dp/1848139926" target="_blank">pseudo-scientific economic theory</a> and class war, such as ‘justified’ public austerity policies which target the poor and marginalised.
Meanwhile, the public is distracted from the true threat: the unrestrained private spending spree that further enhance the power, profit and authority of the horde of private monopolists, usurers, speculators, rent seekers, free riders, financial robber barons, control frauds and indolent rich.
The current dynamics of the political and economic system means private debts will continue to spiral out of control, until the catastrophically-inefficient FIRE sector inevitably implodes. Nevertheless, the current housing booms in Melbourne and Sydney show no sign of abating in the short-term, with 2012 an opportune time to purchase according to the ‘<a href="https://www.macrobusiness.com.au/2014/12/property-speculation-to-boom-in-2015/" target="_blank">Speculative Index</a>’, which measures the irrational exuberance embedded in prices.
If the real estate fever gripping the nation does not break soon, Australia may well secure the top OECD ranking for the most over-indebted household sector. A financial crisis beckons, for history documents that extraordinary over-lending routinely precipitates chaos; falsifying expert claims that ‘this time is different’.
Paul D. Egan was previously employed as a supervisor and policy officer at the state government level. He holds a BSc Hons (Class I) and co-authored, with Philip Soos, Bubble Economics: Australian Land Speculation 1830 – 2013. He may be contacted at <a href="https://www.macrobusiness.com.au/2014/11/victorian-politicians-136-million-property-holdings/paul.egan@openmailbox.org" target="_blank">paul.egan@openmailbox.org</a>
Philip Soos is a postgraduate candidate at Deakin University, and holds IT and MBA degrees from Swinburne and RMIT Universities. His website is<a href="https://www.macrobusiness.com.au/2014/11/victorian-politicians-136-million-property-holdings/www.philipsoos.com" target="_blank"> https://www.philipsoos.com/</a> and can be contacted at <a href="https://www.macrobusiness.com.au/2014/11/victorian-politicians-136-million-property-holdings/psoos@deakin.edu.au" target="_blank">psoos@deakin.edu.au</a>
This article first appeared on <a href="https://www.macrobusiness.com.au/" target="_blank">MacroBusiness</a>.
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po-LsXgBTHBmX

Australian private debt points to a potential financial crisis

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The two Sydney municipal districts experiencing the highest annual increases in median residential land values were Willoughby (up 37% to $1.08 million) and Bankstown (29.4% up to $519,000).
Their increases were more than double the overall 13 percent statewide residential increase, thereby possibly tipping further investors into the land tax web which applies to investment property with a value above the revised $432,000 threshold.
The NSW State Government threshold applies to the combined investment property portfolio of individual investors, businesses and SMSFs, excluding principal place of residence. 
Highlighting the Sydney property price momentum, Hornsby (up 25.3% to $554,000), The Hills Shire (24.4% to $504,000), Canterbury (21.4% to $438,000), Marrickville (19.9%), Warringah (19%) and Manly (18.6%), the electorate of the State Premier, Mike Baird, also had above average increases. Leichhardt was up 17.4 per cent.
Overall residential land values for NSW increased by 13 per cent in the 12 months to 1 July 2014, compared to a 3.2 per cent increase for the year to 1 July 2013.
The escalation follows several years of relatively flat valuations.
The valuation surge has pushed a further four Sydney local government areas (LGAs) into the $1 million plus category for median residential land value.
Waverley, Hunters Hill, Willoughby and Manly have joined Mosman and Woollahra.
The pricey eastern suburbs regained the crown from the lower north shore as Woollahra overtook Mosman, becoming the LGA with the highest median residential land value of $1.4 million (a 13.8% increase from 2013). 
With the slowest growth among Sydney metropolitan LGAs of 6.9 per cent, Mosman median land value stands at $1.39 million, but still someway ahead of Waverley ($1.12m), Hunters Hill ($1.09m), Willoughby ($1.08m) and Manly ($1.05). North Sydney and Lane Cove just fall short of the million dollar median value.
North Sydney and Ryde were the only other LGAs that recorded growth of less than 10 per cent (9.6% and 9.2% respectively). 
No metropolitan LGAs recorded negative growth. 
The biggest overall market trend has seen increases for land values predominantly occur in the Sydney basin. 
The major non-metropolitan centres showing the highest residential median land values were Newcastle ($255,000) and Wollongong ($248,000).
Newcastle recorded the greatest growth in median residential land values over the 12 month period at 10.4 per cent, followed by Wyong with growth of 9.1 per cent. 
A number of regional LGAs performed strongly including Gilgandra (an increase of 30%), Coonamble (20%), Oberon (20%), Dubbo (19.4%), Newcastle (10.4%), Bathurst Regional (9.6%), Wyong (9.6%) and Kiama (9.5%).
LGAs close to Canberra had the highest median land values of inland centres, with Queanbeyan ($266,000) the highest followed by Yass Valley ($172,000). 
A total of 22 LGAs in the state experienced a decrease in median residential land values for the 12-month period, with the largest decrease experienced in Cobar ($23,200) with the median residential land value dropping by 10 per cent. Five other inland LGAs experienced negative growth of five per cent or more in median residential land values, Broken Hill ($17,600), Tumut ($66,500), Guyra ($53,400), Moree Plains ($36,900) and Griffith ($79,500).
There was no change at other lgas including the Eurobodalla median land value of $155,000 and Shoalhaven’s $158,000.
The value of all land in NSW has increased by more than 11 per cent, exceeding $1.12 trillion, in the 12 months to 1 July 2014, according to new figures released by NSW Valuer General, Simon Gilkes, who replaced Philip Western, who endeavoured to make a start at ridding the system of its many flaws during his 11 year term. Simon Gilkes, the deputy General Manager and Director, Valuation Services, Land and Property Information, is the acting Valuer General. 
As part of the 1 July 2014 valuation program, the LPI Department assessed almost 2.5 million residential, rural, business and industrial land values for properties in NSW across the 152 lgas.
Valuers analysed over 43,000 property sales across NSW to determine the 1 July 2014 land values; with specific property sales the most important factor considered when determining fresh land values.
Every year approximately one third of Local Government Areas (LGA) receive new valuations to assist with setting rates. Ku-ring-gai, the Hills and Leichhardt will use the updated data when setting rates in 2015.
Some 882,000 Notices of Valuations are being sent to landholders in 45 LGAs this month, showing the value of properties based on market conditions as at July 1, 2014.
The 45 councils will review their rates model for this year based on the new land values.
Land values are one of the factors councils will use set each landholder’s rates.
“Increases or decreases in land values do not necessarily lead to similar increases or decreases in rates.” Mr Gilkes said.
The land values were prepared by valuers contracted from 17 firms across the state. 
“The values are then subject to rigorous quality assurance including statistical testing by the University of Western Sydney,” he said. 
“For 1 July 2014 residential land values in more than 94 per cent of LGAs met or exceeded internationally recognised measures of consistency and accuracy. 
“We are also improving our information to the community and making it easier for landholders to raise concerns and understand how their issues are being addressed.” 
Landholders concerned about their Notice of Valuation can have it independently reviewed by lodging an objection.
About 0.1 per cent of Notices of Valuation required amendment following the 2013 valuations. 
However the NSW Parliament's last two inquiries into the valuation system found the existing processes associated with land valuation objections, valuations for just terms purposes and related objection processes remained "unfair and inadequate." 
Landholders have 60 days to request a review of any land value on the Land Tax Assessment from the date it was issued. Land tax clients cannot object to their average land value.
Objections must be based on individual land values that appear on the land tax assessment. Land tax clients may object to all three years' land values, upon the receipt of their land tax assessment.
Land value is the value of the land only, and does not include improvements such as the houuse or other structures. But it thereby nabs investors with houses on land more so than investors with units in apartment blocks. For strata units, the land value for each individual strata lot is calculated on a proportional basis using the unit entitlement for each lot and the aggregate for the strata scheme. 
<a href="https://www.apps08.osr.nsw.gov.au/erevenue/calculators/landtax.php#anc_calc" target="_blank">Land tax is $100 plus 1.6 per cent of the land value of investment properties above the $432,000 threshold</a>, which jumped from $412,000 in the past year.
Land tax is applied to the value of any property owned or jointly owned that is above the land tax threshold as at midnight on December 31. A landholder with one or more parcels of taxable land (such as investment properties, holiday houses or commercial premises), may be liable for land tax if the total value of land exceeds the land tax threshold.
Values are determined as at 1 July, preceding each land tax year. 
The latest 2014 valuations are being posted online over the next month, with the Valuer General allowing NSW property owners to conduct five <a href="https://www.valuergeneral.nsw.gov.au/your_land_value/land_value_search" target="_blank">free online valuation searches</a> following <a href="https://shop.lpi.nsw.gov.au/wps/portal/lpma/lpi-shop/land-values/register/!ut/p/b1/04_SjzQyMDAwNDI2NzDWj9CPykssy0xPLMnMz0vMAfGjzOKDnZxCTR0NzQwNzJ1dDDwNzfxMnEMNvVw9zfWDU_P0c6McFQF2_pit/" target="_blank">registration</a>.
Hardly sufficient as since 2007 and subsequent tax years, the value used to determine land tax liability is the average of the land value for the current tax year and the land values for the previous two years, each of which is available one at a time.
News Ltd papers estimated the average land tax bill in the City of Sydney will increase from $2212 in 2014 to $3,300 this year.
It estimates the land tax bill for the investor owner of an average plot of land in Willoughby will rise from about $6000 in 2014 to around $10,000 this year. 
 
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Willoughby, Bankstown and Hornsby property investors face higher land tax bills

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One of Australia's most well-known franchisors says he also offered to buy pie franchise Pie Face while it was in administration but administrators Jirsch Sutherland failed to follow up on his bid.
Tom Potter is best known as the founder of pizza chain Eagle Boys but he has a wealth of other franchising experience under his belt.
Potter has served on the board of several retail companies, including bakery franchise Brumby's. More recently he has built the Crusty Devil Bakehouse franchise, while also serving as chairman of burger chain Burger Urge.
Speaking to SmartCompany this week, Potter says he contacted Jirsch Sutherland on multiple occasions to attempt to speak to the administrators about his interest in purchasing the franchise.
Potter's revelation comes after Franchised Food Company chief executive Stan Gordon told SmartCompany he also had difficulty reaching the administrators to discuss buying the company, which entered voluntary administration in late November.
This week Gordon labelled the administration process as "disgraceful", after Pie Face creditors voted to support a Deed of Company Arrangement (DOCA) to save the company from liquidation in late December.
But Jirsch Sutherland managing partner Sule Arnautovic told SmartCompany Jirsch Sutherland only received one offer for part of the Pie Face group, but the offer was not "remotely close" to the proposed returns to creditors under the DOCA.
In emails seen by SmartCompany, Potter clearly stated to Jirsch Sutherland that he was an "interested buyer".
Potter also expressed an interest in acting as an adviser or management consultant to the administrators "on various areas of the business including franchising, production, overall profit and future options evaluation, marketing".
"I wanted to advise you over the last few years other than being partially retired I have built the Crusty Devil Bakehouse model from scratch ... and have intimate knowledge of the pie, café, bakery business," Potter wrote in one email.
Potter sent emails to Jirsch Sutherland on December 9, 10, 11, 15 and 23. On one occasion he received a response to say his details had been passed on the administrators managing Pie Face but says it wasn't until Christmas Eve that he received a phone call to inform him that a sale process would not proceed.
Potter told SmartCompany he was serious about his offer and he wouldn't have contacted Jirsch Sutherland if he wasn't.
"I made multiple approaches to buy Pie Face but I was ignored three times," Potter says.
"I received one email saying 'I'll pass on the information to the person handling the administration' but I didn't hear a word until Christmas Eve."
Potter says he was unable to specify an amount he was willing to pay for Pie Face as he did not receive an information memorandum.
Jirsch Sutherland managing partner Sule Arnautovic confirmed this to SmartCompany, saying Potter never made a formal offer for the business.
"They never signed a non-disclosure agreement, they never even got to the first formal stage of the acquisition process," Arnautovic says.
"They never paid the $40 fee to receive the summary information memorandum, they never made any offer, they never did any detailed due diligence via us or the Pie Face management team."
"Mr Potter offered his services as a consultant to Pie Face and any interest he had in acquiring the business appeared to be secondary to his desire to provide services to the Pie Face Group."
While Potter says it is "hard to know" what improvements are needed to the Pie Face business, he says he would have "looked at it as a turnaround".
"I would have worked at turning around the business quickly and then decide what to do. It would not have been a long-term interest."
And like Franchise Advisory Centre executive director Jason Gehrke, Potter also questioned the benefit to Pie Face creditors of the DOCA that was accepted at the end of December.
"The big question is why the creditors would accept a deal that would pay them 14 cents in the dollar in two years' time," he says.
This article was originally published on Smart Company.
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Eagle Boys founder also offered to buy Pie Face amid administration woes

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Landlords, do you think that dog owners are better tenants?
RE/MAX WA managing director Geoff Baldwin believes that opting for tenants with dogs and pets may actually be a better option.
“The general feeling is that a dog may in some way damage the property however as an experienced manager of large rent rolls I have found this to be far from the truth and in many ways quite the opposite applies,” said Baldwin.
“Considering, or even welcoming applications from dog owners has two major advantages for the landlord in that these tenants will usually pay a premium rent and they are much less likely to move because it’s harder for them to find another pet friendly property owner,” he said.
He says that while it “may sound brutal” often more damage can be done by young children than by a dog, yet no one considers banning families with children from applying.
“Of course it is important to take into account the size of the dog, whether or not it is a breed that sheds fur, its age, whether it’s an inside or outside dog and any other information that can be gleaned before making a final decision,” he said.
He also suggests seeking feedback from previous landlords. In Western Australia, the property owner does have the ability to legally ask for an additional ‘pet bond’ – a luxury not necessarily available in the other states and territories.
“In a more competitive rental market as is predicted for 2015, owners should be looking at ways to make their property more attractive and actually inviting tenants with dogs to apply is a huge point of difference,” he said. 
{mijopolls 72}
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Poll: Are dog owners better tenants?

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The latest ABS housing approval statistics indicated a record high, but the results have been varied from state to state.
New South Wales approvals actually dropped over the November period, explains Urban Taskforce chief executive Chris Johnson.
“The big drop is in apartment approvals which only reached 1,968 approvals in November 2014 compared to 2,668 approvals in November 2013,” he said. The month recorded a 1.4% drop for New South Wales, largely due to a 3.0% drop in approvals for detached houses. Multi-unit approvals were actually up by 0.1%.
“Victoria is leading the country with 5,009 home approvals in November compared to 3,958 for NSW which is a significantly larger state,” he explained.
Meanwhile, the Housing Industry Association NSW’s executive director David Bare said that despite the modest decline, the overall activity remains healthy and does point to a strong industry.
“Late in 2014 we saw fewer approvals of multi-unit dwellings compared with the record highs achieved in 2013. However there is a strong pipeline and monthly figures can be quite volatile,” said Bare.
“It is also pleasing to see the recovery in detached housing that took place throughout 2012 and 2013 has been maintained right throughout 2014,” he said.
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How did New South Wales building approvals fare?

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The latest Australian Bureau of Statistics residential building approval figures present a positive outlook, with Master Builders translating them into a strong forecast for the rest of 2015.
Master Builders Australia’s chief economist Peter Jones pointed to the strong increase in the statistics, which actually brings November 2014 to a record high.
“The 7.5% seasonally adjusted increase in total building approvals for November 2014 reflects confidence in the market with the strength of the result slightly above industry expectations reflecting positive momentum,” said Jones.
“The November result was built on strong approvals growth in higher density dwellings in the major cities. The 17.2% seasonally adjusted rise for other dwellings (units and apartments) confirms the changing face of dwelling demand as higher density living becomes increasingly accepted,” he said.
He said that the results point to a sustained pipeline of work over the next 18 months. Effectively, this translates into an increased number of jobs in the residential home building sector. Private sector apartments rose 16.7% and private sector houses dipped 0.3%.
Meanwhile, chief economist for CommSec, Craig James, noted that the year has started with “plenty of promise”, particularly with the Aussie dollar falling, a drop in the petrol prices and a record number of council approvals to build new homes.
“Clearly there is no need for official interest rates to be cut. But with inflation low and numerous uncertainties across the global economy, there is also no need for higher interest rates,” his analysis of the data explained.
“The strength of new building will boost housing supply over 2015 and, in turn, lead to softer growth of home prices. The more balanced housing conditions will remove another problem for Reserve Bank policymakers,” he said.
They expect no interest rate change this year, which will assist the construction industry.
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Record high building approvals promising a strong 2015

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Crown Group’s 10 storey Viking by Crown development in Waterloo will see six premium commercial suites delivered next month.
The six suites will be designed by architect Kocihi Takada and will range in size from 63 to 95 square metres. They will include porcelain floor tiles, fully-equipped kitchenettes and life access to the first floor suites.
Underground parking is available with access from level one.
They will be part of a collection of commercial and retail suites across Crown’s sites, including a number of ground level retail shops in Parramatta’s V by Crown, and a number of retail suites in North Sydney’s Skye by Crown.
Koichi Takada was also involved in Sydney by Crown, at 161 Clarence Street, which include nine ground floor retail spaces set to be available in 2017.
Crown Group’s project sales and commercial manager, Anthony Falas, explained that Viking by Crown commercial suites would be sought after due to the tightly held local market.
“We are confident the premises will attract quality tenants seeking a modern space in Sydney’s revitalised Waterloo and Green Square areas,” Falas said.
“An influx of new residents at Viking by Crown and the Waterloo area will provide a good client base for tenants,” he said.
The office space is currently available for sale.
Sold out, Viking by Crown features 110 residential apartments and is part of the revitalisation of Green Square.
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Six Koichi Takada-designed commercial suites announced for Viking by Crown

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The extent of the continued Sydney house price surge is well illustrated in the latest RBA chart pack.
<a href="https://www.rba.gov.au/chart-pack/household-sector" target="_blank">The housing prices chart</a> (pictured below) shows not only the growing gap after Sydney's price escalation between traditional rival Melbourne, but also the price proximity that has been surrendered since the previous 2010 peak.
<img src="/images/2015/01/09/6bl-houspri%203.gif" alt="">
CoreLogic RP Data also shows much the same pattern in the relationship between Melbourne and Perth prices. 
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Sydney's 2014 house price surge: RBA chart pack

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 Don’t let January slow you down, say our back on deck property commentators Jonathan Chancellor and Margie Blok.
While the real estate market eases off towards the end of the year holiday, especially after an action packed, hectic year for buyers, sellers and agents, sales do continue right up until Christmas Eve, and now throughout January.
So here are some tips on how to make the most of the new year.
Buyers:
<ul>
<li>Follow up on those properties that failed to sell at auction during November and December 2014. The owners of these properties might just be getting a little anxious, especially if they have already bought another property. With their properties languishing on the market for weeks, these vendors could be more willing to now accept a reasonable offer. </li>
<li>Auction clearance rates trended down a tad through Spring, so keep an eye out for those passed in prospects and, where appropriate, put in a tough offer because you never know what sort of pressure a vendor will be under.</li>
<li>Use this time to research sale prices of end-of-year listings – the late Spring/early Summer auction market was quite frenetic, so take the time to assess where values now sit, and then you can be knowledgeable about pricing the offers you make.</li>
<li>Hot summer weather, and families away on holidays, usually means a decrease in the number of attendees at inspections – so this could work to your advantage because competition for properties in popular price brackets may not be so strong. </li>
<li>Be ready for the next opportunity by creating daily or weekly alerts for new listings on real estate websites.</li>
</ul>
Sellers:
<ul>
<li>Choose an experienced local agent, who isn’t on their annual ski holiday - along with their hyper executive assistant who isn’t spending all their time on Julian Tobias’s The Island. Hopefully, the agent already knows the likely buyer from their database of unsuccessful bidders at their recent auctions. </li>
<li> Make the most of your time off in the New Year period to tidy up your property and get it ready for a marketing campaign commencing late January. Spruce up the inside of your home, as well as outside for it’s a lovely time of year to be in the garden. </li>
<li>Take down the Christmas tree, and ensure there is no sign of Christmas decorations in any of the marketing.  </li>
<li>If your property failed to sell at auction in the run up to Christmas, instruct your agent to indicate your willingness for extended settlement terms in the  internet advertising of your property, for this could be very attractive for buyers.</li>
<li> Remember the old saying “the early bird catches the worm” – rather than wait until the February auction season, tell your agent to immediately advertise your property as a "forthcoming auction" on the internet because buyers will be on the prowl for the latest offering.</li>
<li> Be mindful, especially with the dollar hovering around the low 80 cent mark: cashed up expats, who are home for holidays, could be house-hunting. </li>
</ul>
Agents:
<ul>
<li> Although agents may have had an exhausting year, they should be keen for new or repeat business. The local papers are devoid of property advertising, but the internet operates 24/7, and you never know who is around and what they might want to buy or sell.</li>
<li>Securing transactions without interfering with your family holiday plans is achievable, especially as most agents now have executive assistants who can do some of the legwork.</li>
<li>It can also be a good time to take advantage of social and networking opportunities, so that as the sales year heads towards the early April 2015 Easter break, you’re armed with fresh prospects. Keep networking, but in a relaxed fashion – schedule lunches, drinks or coffee with friends, past clients and vendors.</li>
<li>Get back to the office during early January and use the time to stay in touch with your clients by phoning to wish them a Happy New Year. Even if you make just 10 calls each day from Mondays to Fridays, this will add up to a large number of people over four weeks.</li>
<li>When you get back to office, update your databases and declutter your computer files, as well as other unnecessary paraphernalia lying around the office. Use this time to organize yourself in readiness for the year ahead. Evaluate your office systems and if these are not supremely efficient, then update software and set up new systems.</li>
</ul>
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