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

Joel Robinson

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

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

PDG unveils plans to transform landmark Ivanhoe Water Tank Site

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

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

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

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

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

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

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

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

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The 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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