<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]

Joel Robinson

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

Lender, fund manager and apartment developer Princeton has completed <a href="https://www.apartments.com.au/buildings/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, the first new apartment development in South Sydney to provide its owners with a 10-year Latent Defects Insurance policy, the most comprehensive insurance available for a new apartment building.

The policy has been a key consideration for prospective purchasers of the 58 one-, two-, and three-bedroom apartments, strategically located between&nbsp;Rockdale Plaza and Rockdale Station.&nbsp;

Buyers have also been drawn to the fact that it is one of few new apartment developments delivered in the suburb in the last 10 years, and the only one located on Princes Highway to be set well back from the street to reduce noise. There's also a communal rooftop, a rarity in the suburb, complete barbecue facilities, landscaped seating areas, a children's play zone and herb gardens.

[smartcode_project:default project_id=136442 project_image_fid=374084]

Ray White Projects’ Matt Otway said buyer enquiry reflected the increasingly diverse and cosmopolitan population that has made Rockdale home.

“We’re seeing strong interest from a broad mix of buyers, including young professionals and people who have rented in Rockdale and the surrounding suburbs and now see Marque as an opportunity to buy a brand-new apartment in an area they already know,” Otway said.

“Proximity to the CBD and Sydney Airport is another key advantage particularly for buyers working in these locations who want the added convenience of living close by.”

Investors have also been attracted to the project, with rental yields of more than five per cent, which is considered a strong result for the Sydney market.

[smartcode_project:default project_id=136442 project_image_fid=374090]

Adding another layer to the buyer proposition is Marque's 10-year Latent Defects Insurance policy from Resilience Insurance, making it the only new apartment development in Rockdale to offer the cover.

The policy protects apartment owners against major structural and waterproofing defects for 10 years following completion, giving Marque purchasers cover until early 2036 at no additional cost.

The likelihood of defects emerging has also been mitigated through the Technical Inspection Service (TIS), which saw independent experts inspect the building at various stages throughout construction to identify potential issues during the build, rather than after the fact.

SDSS, which provided the TIS, consistently ranked the construction quality at Marque, undertaken by iCIRT-rated builder Coplex, among the best across its extensive portfolio of projects.

[smartcode_project:default project_id=136442 project_image_fid=374088]

Otway said the LDI had become a major drawcard for buyers, particularly given Rockdale has seen relatively little new apartment development over the past decade.

"Rockdale hasn't had a lot of new apartment buildings in the last decade, and has never had a project with 10-year defect insurance," Otway said.

"Marque presents a truly rare opportunity at an affordable price point, so well connected to the Sydney CBD."

One-bedroom apartments at Marque start from $735,000.

[smartcode_project_cta:default project_id=136442]

Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

Sydney developer <a href="https://www.apartments.com.au/developers/odus">ODUS Property Group</a> is continuing to expand its local Gold Coast development pipeline, filing plans for a new 40-storey tower in the Southport CBD.

Odus, which bought two luxury Main Beach projects, now La Mer and Le Reve, to make its move into the booming Gold Coast apartment market, has secured its third site. But it is tweaking the plans for a previously proposed 50-storey skyscraper, now seeking to deliver 40 storeys.

The project, dubbed <a href="https://www.apartments.com.au/new-apartments/80-marine-parade-74-80-marine-parade-southport-qld-4215">80 Marine Parade</a>, sits on a prime&nbsp;2,032 sqm amalgamated corner site at 74–80 Marine Parade and 4 Welch Street, across the road from the Gold Coast Aquatic Centre. It will have unobstructed, never-to-be-built-out views to the east given its position opposite the Broadbwater Parklands.&nbsp;

The plans are for 316 apartments, ground-floor retail, and resort-style resident amenities. The project sits within Precinct 1 (Central Business District) of the Southport Priority Development Area, where high-density residential and commercial development is actively encouraged.

BGD, ran by Bayden Goddard and the architecture firm behind Le Reve, has revised the original concept plans, substantially reworking the built form. Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0f13d065-2cf5-45ec-aa17-1a03754d93d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%202.png?VersionId=.9QS2n7kBc_U3PyaI247uOyNSXIqnXSE" />

The tower rises above the eight-storey landscaped podium with a distinctive architectural language defined by sweeping arches, integrated greenery, bronze-toned glazing, and a sculptural rooftop crown.

The development will comprise 104 one-bedroom apartments, 208 two-bedroom apartments, and four four-bedroom penthouses across levels 9 to 36. Apartments are designed to accommodate both permanent residents and short-term accommodation within the same building.

A double-height lobby and reception will anchor the ground floor alongside a 23 sqm food and drink outlet, activating the Marine Parade frontage.

Parking will be accommodated within the podium, providing 288 vehicle spaces and 74 bicycle spaces, accessed from Welch Street.

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="d7528b91-2c47-4094-98b3-5eecbacc0041" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%20podium.png?VersionId=efF5oWs4T9PDvxJwJEDHu5kSQ5eE3IBy" />

Residents will have access to an extensive suite of amenities spread across multiple levels. A podium recreation deck will include a swimming pool, spas, sauna, steam room, cinema, residents' lounge and children's games room, while a second wellness level near the top of the building will feature a gym, co-working spaces, reading room, dining areas and communal kitchen. Extensive podium landscaping wraps the building to soften the built form and strengthen its interface with the surrounding streetscape.

The planning report notes the project responds directly to Southport's ongoing urban transformation.

"Consistent with much of Southport, the surrounding area is undergoing significant transition, with many older low-rise developments progressively being redeveloped for higher-intensity urban outcomes, as envisaged within Precinct 1."

It also states that the proposal "will contribute to a defined and legible eastern gateway to the Southport CBD, reinforcing the area's high-density urban character while maintaining a strong visual connection to the adjoining public open space network."

<img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0b9fdebd-4b35-400b-a287-6bd1cdbcdb1b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da.png?VersionId=4LG35XR5mfir7jvG2TShtQx.utMLYBxu" />

Located opposite the Broadwater Parklands, the site enjoys immediate access to the Gold Coast Aquatic Centre, Australia Fair Shopping Centre, TAFE Queensland Southport campus, the G:link light rail corridor and Southport's established commercial precinct. The location places future residents within one of the Gold Coast's fastest-evolving mixed-use centres, where numerous high-rise residential projects are reshaping the CBD skyline.

Odus is headed by development professionals Byron Sakha, Jarrod Younan and Sebastian Younan. The Younans also head family-owned builder Nazero Constructions, established in the 1960s.

They are currently delivering La Mer, 24 luxury apartments on Main Beach Parade, and Le&nbsp;Rêve, on the same street but on the prized beachfront side of the sought-after strip.

ODUS plans landmark 40-storey tower for Southport's Broadwater gateway

A boutique collection of just 10 residences could become the catalyst for the next phase of renewal along the southern end of Surfers Paradise Boulevard, with new plans laid for a mixed-use tower designed to transform a long-vacant site.

The proposal for <a href="https://www.apartments.com.au/new-apartments/3098-surfers-paradise-boulevard-surfers-paradise-qld-4217">3098 Surfers Paradise Boulevard</a> has been conceived as more than a standalone residential project. Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the development aims to spark the revitalisation of what the design team describes as the "South Boulevard" precinct, creating an active streetscape with retail uses at ground level beneath a collection of full-floor luxury residences.

The application, by PR Property Holdings, an entity directed by the Brisbane-based Ryan and Petrovic families, seeks approval for a 17-storey, 62.2-metre mixed-use development on a compact 427 sqm site between Surfers Paradise Boulevard and Appel Street.

The project will comprise just 10 apartments, including eight full-floor residences and two duplex apartments, positioned above a two-level retail podium. Three podium parking levels will accommodate 26 vehicle spaces, while a recreation deck is proposed on Level 4.

<img alt="First look: PR Property Holdings plans boutique apartment tower to kickstart Surfers Paradise's 'South Boulevard' revival" data-entity-type="file" data-entity-uuid="46cfa37d-5051-4449-8d8e-6724f8ca0d59" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_8.png?VersionId=e7UkeV1eTZAC2lXhdq72E3jpUbwiFD2t" />

Rather than pursuing apartment volume, the proposal focuses on large-format homes with a slender tower form intended to maximise outlooks while limiting visual bulk.

BDA Architecture said the proposal has been designed to become an urban renewal catalyst for the precinct.

"The ambition of 3098 Surfer's Paradise is that it provides the catalyst for incremental infill redevelopment and upgrade of what is coined the 'South Boulevarde' of Surfers Paradise which connects to the beating heart of Cavill Avenue."

The architects added: "An incremental approach to development that provides quality ground plane interface, human scale design, integrated subtropical landscape and semipublic permeable frontage can over time entirely upgrade a precinct."

The architecture adopts soft curves, articulated balconies and a slender tower profile rising from a human-scaled podium. The design report describes the project as delivering "bespoke residences of enduring distinction, sculpted with precision and quiet sophistication," with a focus on timeless coastal architecture.

The application also includes retail tenancies addressing Surfers Paradise Boulevard, reinforcing the site's role as an active mixed-use destination rather than a purely residential address. The planning report states the combination of the podium, landscaping and active frontage is intended to strengthen the pedestrian experience while contributing to the evolving character of the boulevard.

The site occupies a prominent position in the southern section of Surfers Paradise, directly opposite the G:link light rail corridor and within walking distance of Surfers Paradise Beach, Cavill Avenue, the Nerang River and Bruce Bishop Car Park. It is currently vacant, having previously accommodated a single-storey commercial building that was demolished in 2022. The planning report notes the surrounding area is characterised by a mix of commercial buildings and residential towers, with unlimited building height provisions applying under the Centre Zone.

The proposal also replaces an earlier 2022 approval for a restaurant and bar on the site, instead introducing a permanent mixed-use development that combines retail activation with boutique residential living.

Boutique apartment tower to "kickstart" Surfers Paradise's 'South Boulevard' revival

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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Managing your own investment property has its advantages. You get to maintain control of the process and it can save on agent costs but there are traps that investors need to watch out for.
Property Observer talked to NSW Department of Fair Trading senior customer service officer Hollie McPherson about the common mistakes that self-managing landlords make.
<ol>
<li>
Access One of the most common complaints the NSW Department of Fair Trading receives about self-managing landlords relates to accessing the property without permission. “Because it’s a significant investment that people make when they buy and investment property, sometimes the landlord will not let go of the property and turn up without providing sufficient notice,” McPherson says. Retaining control over management does not mean you can ignore the rules about access. Landlords need to remember that tenants have rights and must obtain permission to access the property, except in some special cases. Landlords often face problems with tenants failing to grant access for the landlord or others to come to the property to carry out repairs, for example. If the tenant fails to provide access after the landlord has given the proper notice, the next step for the landlord would be to go to the dispute service offered by the Department of Fair Trading. 
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<li>
Bonds Another common mistake that self-managing landlords make is not lodging rental bonds with the Department of Fair Trading, McPherson says. Landlords in NSW must lodge bond money with Fair Trading. Some landlords keep rental bonds in their own personal bank accounts, which can make it difficult for tenants who are leaving a property to recoup their bond. That’s not allowed. Landlords sometimes request more than four weeks’ worth of rent to be held as a bond but that’s also against the rules. 
</li>
<li>
Documentation “Sometimes landlords forget [a rental property is] like a business,” McPherson says. “You do need to have things in writing. It’s a protection for the tenant and for the landlord.” There’s no requirement in NSW to have a written tenancy agreement in place when renting out a property. When there’s no rent agreement, the lease reverts to a six month agreement that applies to both landlord and tenant. The landlord can’t increase the rent during that period and the tenant can’t stop paying the rent. While it’s not a requirement to provide a written tenancy agreement, it’s a good idea to have one. It’s difficult to prove that someone is a tenant and not a guest if there’s no tenancy agreement in place, McPherson warns.  A tenancy agreement should show what’s included under the lease agreement. It should also include a condition report that documents any damage or flaws in the property when the tenant moves in and out. “It’s an investment property so you want to keep track of what condition the property was in at the start of the lease,” McPherson says. Take photos for evidence. When the tenant moves out agree a time to inspect the property. If there’s damage the landlord can get works done and show receipts to the tribunal to have the repairs paid for out of the bond money. “Without that it’s really hard for the landlord to prove who caused the damage,” McPherson says. With rental payments, McPherson says it’s wise to provide rent receipts to the tenant or keep a tenant ledger, although some landlords fail to do this. “Keeping a tenant ledger is good for the landlord because it shows if the tenant is up to date also it’s good for the tenant because they can use it for future rental applications,” McPherson says. As a landlord, you’ll probably need to keep track of rental payments for your own tax records anyway. 
</li>
<li>
Charging for utilities Landlords sometimes make the mistake of trying to charge for utilities when they are not allowed to. “There are clear rules for when you can and can’t charge for water usage,” McPherson says. If there’s only one water meter for multiple residences, such as in an apartment building, you can’t charge utility bills, for example. 
</li>
<li>
Staying in touch Another common mistake is that landlords will only provide a mobile number to their tenants which can make it difficult for the tenant to get in touch with them. “It’s important for the landlord to give [the tenant] their full name, address to write to, telephone number or email address,” McPherson says. If something goes wrong, it’s important to try to contact the tenant to try to have a discussion about the problem. Keep a written record of what was discussed, including a diary of conversations and communication with the tenant. Record details such as when repair works will be completed, or why modifications won’t be made if the landlord chooses not to do work that the tenant requests. “It doesn’t matter how good the relationship was at the start things can go sour,” McPherson says. 
</li>
<li>
Seeking help If landlords are not sure of what to do, they can contact the Department of Fair Trading for advice, McPherson says. There are also fact sheets on the website that can assist. Fair trading can negotiate with the tenant on the landlord’s behalf, free of charge. Mediation is mostly conducted by telephone but if required Fair Trading can facilitate to face-to-face meetings. “If [landlords] make an effort to resolve issues, keep records in writing, then the service we offer is quite effective in negotiating the outcome,” McPherson says. If the problem can’t be solved through mediation, the next step is to go to the NSW Civil and Administrative Tribunal for a binding decision. It costs $47 to lodge a case with the tribunal.
</li>
</ol>
Note that this story refers to processes and rules in NSW only. The details will be different in other states and territories but the basic principles are still the same.
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The six most common mistakes self-managing landlords make

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GUEST OBSERVATION
<ol>
<li>The agency which sold you the investment property is not necessarily the best to manage it – it is worth actively reviewing your choices in the local area, rather than just taking the most obvious option. </li>
<li>The person who signs you up at an agency may not manage your property. This means you have limited opportunity to assess the calibre of the people who will actually manage your hard-won asset. </li>
<li>Even if you go to a great deal of effort to select an individual property manager, it’s also vital to assess their agency as a whole. Many agencies have high rates of staff turnover but good business systems help ensure consistency regardless of which manager looks after you. </li>
<li>The best property managers do more than collect the rent and organise repairs. For example, they can alert you to the benefits offered by depreciation schedules, suggest high-return improvements and make sure you are aware of your options when it comes to insurance. </li>
<li>Property agencies should be judged on quality not just price. The advantage of a slightly lower management fee will quickly be eroded if there’s an unnecessary vacancy or a badly-prepared tribunal appearance. Don’t forget to ask how many properties each manager has to handle when comparing agencies, and whether they hold open for inspections on weekends. Examine all their ancillary fees as these can really add up. </li>
<li>While it’s important not just to focus on price when selecting an agency, it’s also worth remembering that you can negotiate – the higher end the property, the more room there usually is to manoeuvre. Those with a larger portfolio also have more power to strike a better deal. </li>
<li>Consider doing some mystery shopping before deciding on an agency. Inspect the quality of “for lease” ads and photography, checking how long it takes for calls to be returned and even turn up to an open for inspection. </li>
<li>While property managers are on “your side”, they also have a professional duty of care towards tenants and a responsibility to ensure relevant legal rules are followed. Property managers need to be able to negotiate in a firm but personable manner with tenants and landlords – so when they say you can’t make DIY electrical repairs, for example, don’t take it the wrong way! </li>
<li>Property management is not an easy job. Think twice before taking on the role yourself – poor quality tenants often target DIY landlords because they know a professional will screen them out. It’s no coincidence that the landlords in tears in current affairs television over their “trashed house” are almost always managing their property themselves. Even with professional managers, there are no guarantees but, if worst comes to worst, they are better equipped to deal with the eviction process. </li>
<li>Property managers usually have access to a network of quality, responsive tradesmen. These may not always be the cheapest in town, but have proven their ability to get the job done reliably. If the quote provided really is over the top, take the time to do some research on alternatives – and be polite in raising the matter. Set aside some of the rent you receive so that you can afford repairs. </li>
<li>Read your annual rental statements with an eye for what’s missing as well as what’s there – has money been taken out for pool maintenance, gutter clearing and the like? If not, ask why. </li>
<li>Property managers can make your investment journey easier and smoother, but the buck stops with you – it’s up to you to carefully select your property manager, respond to their queries, monitor their performance and proactively change managers if necessary.</li>
</ol>
Sharon Fox-Slater is the General Manager of EBM Insurance Brokers’ <a href="https://www.rentcover.com.au/" target="_blank">RentCover </a>landlord insurance division.
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sfoxslater-oVy9VUHSz9

The 12 must-know tips for dealing with property managers

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RP Data’s statistics revealed four suburbs across Australia where the median price was listed under $100,000. 
Property Observer couldn’t help but ask “Why are they so cheap?”
Digging a little deeper, we decided to discover just why these median recording prices were so suppressed.
Of course, small regional areas – as these tend to be – are usually more volatile in their medians due to the infrequency of transactions, particularly when looking at units. Some of these areas have very few apartment blocks. Investors are always urged to understand what the median price is, and how it is affected by the type of properties that transact over a period. Here are four things to know about the figure before relying on it.
Some areas will be cheap due to their location - far from any employment hubs - while others will have a different makeup that ensures their prices are recorded low. There's a reason that you're unlikely to have heard of some of these four areas - they're not all bustling hubs that property investors are used to looking at. However, this doesn't mean they don't have their opportunities - while re-sale may be a tricky situation and something to consider, the yield figures are strong on paper and at least one listing seems to suggest that rental returns may be attractive.
<ul>
<li><a href="/news">Gin Gin</a>, Queensland: $41,000</li>
</ul>
The tiny rural township Gin Gin, about 48 kilometres inland from Bundaberg, is the cheapest across the country when looking at the area’s median price for units, according to RP Data.
Houses in the area were recorded at $216,000.
Current listings suggest that it may have been a month of cheaper sales for Gin Gin, with apartments on the market for around the $200,000 mark. The cheapest offerings are blocks of land from $33,500 – including some in an eco-park.
According to the 2011 Census, the suburb of Gin Gin had just 157 people, while the state significant area had around 5,000.
It seems that infrequent sales are skewing the median - with just seven recorded by RP Data to calculate their most recent median.
<ul>
<li><a href="/news">Mission Beach</a>, Queensland: $69,000</li>
</ul>
Tourist township Mission beach in the Cassowary Coast Region is the lowest priced beachside apartment currently listed at $150,000.
The median house price is set at $342,000.
Property Observer did find a number of $60,000 sales on Sandy Close and Iluka Close for blocks of land that had been tagged as units over June and July that may have skewed the median. There was also a $50,000 sale on Sandpiper Close. These appear to be part of Oasis Mission Beach – Iluka Close was part of Stage Two.
Again, just five sales were recorded for Mission Beach units. It appears that this figure is highly unusual, and not indicative of what you'd be paying for a unit - with a gross rental yield statistic at 25.34% and rent at $335 per week (which aligns with what is currently seen in rental listings), it was a struggle to find a unit under $100,000 that would return this figure.
As a state suburb, the 2011 Census recorded just 765 people in residence
<ul>
<li><a href="/news">Risdon Park South</a>, South Australia: $84,000</li>
</ul>
It appears that sub-$100,000 options are certainly on the cards for those looking to buy in Risdon Park South’s surrounding suburbs in <a href="/news">Port Pirie</a>.
At present no listings for the immediate Risdon Park South area were found. Current listings include an $89,900 “maisonette home” or three-bedroom, one-bathroom unit in Port Pirie. However, it is under offer at the moment.
Meanwhile, also in Port Pirie, a one-bedroom, one-bathroom offering for $99,000, which markets itself to investors or retirees, is available.
Port Pirie is the larger township, and as of the 2011 Census Risdon Park South was home to 1,975 people.
It seems a number of duplexes, including one on Hutchinson Street for $75,000 and one on Plenty Street for $80,000, may be keeping the median price down. One property listed in the area, for $85,500, is a solid brick maisonette offering.
In total, 12 unit sales were noted by RP Data. They recorded the median house price at $275,000.
<ul>
<li><a href="/news">Hamilton</a>, Victoria: $85,000</li>
</ul>
Currently, in Hamilton, there is one listing under $100,000 – a one bedroom, one bathroom flat asking for $95,000 on Moore Street, currently rented at $120 per week. Two-bedroom units span from $122,000 upwards.
Hamilton’s median house price sits at $197,000.
Located 300 kilometres west of Melbourne, or a three to four hour drive, it’s best known as a sheep grazing and agricultural area, however as a state suburb is recorded as housing 10,104 people in the 2011 Census data.
Just 12 unit sales were recorded. Suggesting a 13.46% gross rental yield, on $220 weekly median advertised rent for units, it appears that while in reality the yield may still be strong - you'd be looking for closer to the $200,000 bracket in a purchase to achieve the $220 rent.
Keen for more data? You can peruse our free suburb data here.
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Why so cheap? The four suburbs with median unit prices sub $100,000

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CFS Retail Property Group has booked a $400 million net profit for fiscal 2014, up 35% on the prior year.
The retail property trust has $14.2 billion of assets under management, including $8.9 billion held on balance sheet.
It is cautious on retail sales in the short-term given the 2015 federal budget impact but expect specialty store sales to steadily improve, chief executive Angus McNaughton forecasted, as Emporium Melbourne comes on line.
It officially opened its $1.2 billion Emporium Melbourne<a href="/expert-insights/investing/the-emporium-melbourne-officially-opens-its-doors"> in Baz Luhrmann-produced extravaganza</a>.
The Emporium comprises 45,000 square metres of retail space.
It is forecast to deliver 5% yield on cost.
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jchancellor-FAypfDUnLy

Emporium Melbourne forecast to deliver 5% yield on cost for CFS Retail

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Tuesday night's episode of Location Location Location saw two buyers toss up between the two values every property player holds dear: property and location.
Bryce spent the episode helping out Laura and Marcus from Melbourne. The retro loving couple have been together for almost 11 years and have a three year old son, Archie. 
Formerly restless, with 10 moves in 10 years, the couple were keen to put some roots down - preferably in <a href="/news">Altona North</a>, where they were renting. They required a two to three bedroom house, with a big backyard for Archie. But most importantly, Marcus needed a sizable garage for his latest acquisition - a 1971 Valiant Regal, which he is in the process of restoring.
Unfortunately, after two years of looking, they'd had no luck. With both Laura and Marcus working for not-for-profit organisations, they were on a tight budget of $540,000. 
Bryce's first move is a trip to <a href="/news">Seabrook</a>, a new suburb 15 minutes further out from the CBD from Altona North, in Melbourne's west. Laura was skeptical of the area from the very start, despite a good school within walking distance. The new build house they visited had an asking price of $470,000, well within the couple's budget, and had a covered entertaining area with a small grassy backyard for Archie and garage space for the Valiant.
Although the house itself had plenty of pros, the distance from the city was a big con, especially for Laura - and so it became apparent that for this couple, it really was all about location, location, location.
Next stop was Altona, <a href="/expert-insights/investing/julia-gillard-set-to-move-back-to-adelaide-but-not-leave-altona-imminently">the one-time home of Julia Gillard</a>. Bryce had found a single storey three bedder with a large loungeroom, dining anrea and kitchen, with plenty of space for Archie. The house, which needed a little work, was also offered at $470,000 and was set to go to auction.
He also tracked down a house very close to home, in Altona North. The three bedroom house with separate dining and a garage preserved the home's original 60s features (a big plus for Laura and Marcus), but was in the shadow of a large refinery - no doubt a factor in the home's relatively modest $520,000 asking price. Though the couple were keen, they decided in the end that the backyard view of the refinery wasn't for them.
In the end, Bryce brought Laura and Marcus to another Altona North home - this time, far away from the refinery. With three good sized bedrooms, a garage and a substantial backyard, the single storey brick home on a 535 square metre block ticked all the boxes. The vendor was after no less than $510,000, but Bryce put in a strategic unconditional offer of $501,000, which did the trick, <a href="https://www.realestate.com.au/property-house-vic-altona+north-115977407">securing the home for Laura and Marcus</a> (pictured below).    
<img src="/images/2014/08/21/1.jpg" alt="">
Sydney sisters Jackie and Juliet found that house trumped location in their search for a home for Juliet. The sisters, originally from England, were hunting for a house for Juliet, with Veronica's help. Juliet has scoured the market for a house but is nervous about buying and hates auctions.
Five years on from the removal of a life-threatening brain tumour, she decided that it's finally time to settle down and get on with her life, and wanted to put down some roots. She was after a two bedroom home in an inner-western Sydney suburb with a village feel. She was keen on period homes, and dead set on a bath, with a $910,000 budget. 
Veronica first took the sisters to Luluville, a terrace cottage in <a href="/news">Rozelle</a> which dates back to the early 1900s. Outside, the home had a split level garden for entertaining, and was a snug fit. Jackie ruled that the home was too small, although it did fall within the budget, with a $800,000 price guide and a $850,000 plus estimate from Veronica. The sisters tossed up some renovation ideas, but couldn't figure out a price efficient way to make the house bigger.
Next they went to <a href="/news">Enmore</a>, where another terrace house offered a little more space. The solid double-brick home home made a good first impression for Juliet, and had original fireplaces. Currently occupied by tenants for another six months, the house had two bedrooms, a separate lounge and large eat in kitchen, with a $850,000 price tag. Unfortunately, with the auction only 48 hours after the sisters made the inspection, the home didn't make a strong enough impression to force them into action. 
The sisters also inspected a home in <a href="/news">Leichhardt</a>, another terrace. Unlike the other properties Juliet had walked through, this one had been renovated, with an extension upstairs. There was a "functional" backyard, a rather spartan, minimalist affair. Upstairs, the "spare room" was really a little mezzanine with a balcony, with no door but room for a single bed. According to Veronica, the questionable functionality of the upstairs spare room could just make the home's price attainable. It came with an $800,000 price guide.
Finally, the sisters travelled to <a href="/news">Erskineville</a>, only five kilometres from the city centre. The recently renovated home preserved some period features, with two upstairs bedrooms, and an open plan living and dining area downstairs, with a courtyard. However, the home had a small, galley style kitchen with limited storage - a major negative for Juliet. 
Vendors were accepting offers over $800,000 for the Erskineville home.
After some umming and ahhing, the sisters settled on Leichhardt, thanks to its good sized kitchen and small private balcony. Veronica put in a strong $850,000  bid after waiting til they arrived at the second week of the auction campaign, securing the home and saving Juliet from the dreaded auction process.
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jrichardson-uRX5hFdKfN

Location Location Location: The crucial compromise

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GUEST OBSERVATION
I never in my wildest dreams thought that I would be able to buy quality property in Sydney under $300,000…
But the GFC awarded me this moment in time that we absolutely took advantage of it. <a href="/news">Campbelltown </a>(Macarthur Shire) was the spot.
But why Campbelltown? It made for some great buying, simple!
The south-western Sydney location had all the ingredients of a great investing location with a fast growing population, great accessibility to employment in Sydney CBD or growing commercial and industrial sectors in Minto and Hoxton Park through either the M5 freeway or by train.
The last key ingredient was the GFC. This caused house prices to drop dramatically and consumer confidence to go out the window, allowing me to have no competition with other buyers and allow for some pretty low offers to secure some great deals.
This all happened for us in 2009. I was that confident in the area that I purchased eight properties there. Well, that’s all the past and now is what we want to all hear about, the results.
I am glad to say that we have had a few investors recently sell their properties in Campbelltown for what I would call “very impressive” results.
We were that confident, we even filmed the first property to be auctioned and it went better than expected!
The reason for some of our clients selling is to grab the profits they made from their investment property and pay down their home loan in a lump sum. Imagine having a home loan for $300,000, being able to drop $100,00 plus onto it in one go, making it $200,000.
Wouldn’t that increase your cash flow dramatically?
With a quick loan re-adjustment, it sure would!
But, you don’t stop there – now your cash flow has increased along with the available equity in your home, you go back out and buy two or three properties.
When two of those properties mature in value, you do the same and pay off your home loan in full!
Since this, we’ve had another great result with a client selling their house we purchased for $298,000 and sold for $412,000. 
Back to the story, I congratulate these investors doing what most wouldn’t – invest when everyone else ran away and they will reap the rewards for doing so.
TODD HUNTER is buyer’s agent, director and location researcher for Sydney-based <a href="https://www.wheregroup.com.au/" target="_blank">wHeregroup</a>.
He reached a personal investment portfolio of 50 properties in 2006 and has also started building an SMSF portfolio.
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thunter-umjjMzoT8b

The investors who bought when everyone else was running away are now reaping the rewards

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This week is full of announcements from some big Australian companies. Things are changing.
Two announcements come from BHP Billiton and AGL and both will have a big impact on the Hunter Region of NSW. Hopefully a positive change that will strengthen the local economies and translate to the housing market.
As you all know, property is my number one choice of investment strategy. In contrast, my share market investment experience is pretty limited. In fact, I can nail it down to two things; watching what my managed superannuation fund does and sitting around a table with a group of girlfriends drinking wine and having a little bit of input into the allocation of my investments in our Kash Kow funds.
The Kash Kows was formed about 10 years ago when a few women decided we should build our investments and have a bit of fun trying to figure out how the stock market works. We all throw in $25 per month then when there is enough money in the kitty, make some (usually) dodgy decisions on what we buy. We do try and get in 'guest speakers' ply them with alcohol and nibblies then hit them up for a tip. Other times we will actually do some real  research to work out what company to invest in. We started as 'share traders' which quickly turned to 'share investors' when none of us had time to watch the daily fluctuations of the share market and actually do the trades.
Luckily for us we had purchased BHP long ago at about $12 a share. While I can safely say we are nowhere near their major shareholders, I do take an active interest in what BHP do, particularly in the Hunter.
'BHP's demerger sees it keep it's Hunter Valley coal mines' read one headline that caught my eye this week.  With the big company deciding to split their interests and assets into two, I wondered what was their criteria in choosing which would stay with BHP and which would be 'spun out'.
Recently BHP was able to boost exports and cut costs sufficiently to overcome the slide in commodity prices. Its current share price is reflecting this. So are the vacancy rates in <a href="/news">Muswellbrook </a>and <a href="/news">Singleton</a>. Cutting costs meant letting go of contractors and downsizing some divisions.  However productivity so it seems, has never been so good.
I read it's the first time in three years that BHP has improved profits year-on-year. This has been achieved despite prices for some of BHP’s most important commodities – particularly iron ore and copper – trending lower during the 2014 financial year.  They seemed to have ramped up their volume in coal.
BHP has said it would include its Illawarra metallurgical coal business in NSW in the demerged group, but would be hanging on to its thermal coal assets in the state’s Hunter Valley. Metallurgical coal is less abundant than thermal coal and is primarily used in the production of coke, which is an important part of the integrated steel mill process. 
“In a single step, we will significantly increase BHP Billiton’s focus on the exceptionally large resource basins that underpin its competitive advantage. As we move towards a simpler portfolio, comprised of our pillars of Iron Ore, Copper, Coal, Petroleum and potentially Potash, we will become a higher-margin, higher-return business..." said BHP Billiton Chief Executive Officer Andrew Mackenzie.
My interpretation of this change is a sign of confidence from the company in the coal mines of the Hunter Valley.
The other big 'change' announcement this week was the AGL and Macquarie Generation (MacGen) owned by the NSW State Government acquisition. The deal covers the Bayswater and Liddell power stations near Muswellbrook, the Liddell solar farm, the Hunter Valley gas turbine near Liddell, the development site ‘‘Bayswater B’’ for a new base load power station four kilometres west of Bayswater, and the Tomago generation development.
From the proceeds, about $700 million is expected to go into the government infrastructure fund Restart NSW to fund high priority future infrastructure projects across NSW like schools, rail, roads and hospitals. The <a href="https://www.hunterinfrastructure.nsw.gov.au/About.aspx" target="_blank">Hunter Infrastructure &amp; Investment Fund</a> will benefit from this.
AGL says there are many strategic benefits to this purchase and plans to spend $405 million over four years on revised maintenance and upgrades at its Liddell and Bayswater plants.
Hopefully this change and investment will also trickle down into the local economies.
And so I ponder on these two large change projects and have to agree with George Bernard Shaw that "Progress is impossible without change".
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

Change is coming to the Hunter Valley

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It’s fair to say that the name Baz Luhrmann is not exactly synonymous with restraint.
The Australian director best known for pulling off meticulous and extravagant displays of debauchery in films such as The Great Gatsby, Moulin Rouge and Romeo + Juliet, brought his trademark touch to the grand opening of Melbourne’s Emporium shopping centre last night.
The $1.2 billion centre in the shell of the former Lonsdale Street Myer building was looking suitably glamourous for the event's 1,500 attendees.
The opening came at a great time for the centre’s owners, CFS Retail Property Group, who just announced a $400 million net profit for the 2014 financial year.
International retailers Top Shop and Uniqlo are among the tenants who have been welcoming customers for a few months preceding the launch. Though a few of centre's tenants are still waiting to open, the 225 retail spaces at Emporium are fully leased.
Luhrmann's vision for the opening was a "reimagined" Melbourne. While the opening event's giant tennis ball, beneath a cavorting acrobat, was a nod to the Australian Open, and a pink and purple horse sculpture a tip of the fascinator towards the spring racing carnival, other features of the launch had more tenuous links to the city.
<img src="/images/2014/08/21/26.jpeg" alt="">
Choreographed dancers wearing soldier and nurse costumes? A stretch.
<img src="/images/2014/08/21/3.jpeg" alt="">
A slick band seemingly swimming amongst a sea of gladioli? Not so sure…
<img src="/images/2014/08/21/2.jpeg" alt="">
Roller skating waiters eager to top up your glass of champers? I’ll roll with it.
The efforts certainly impressed attendees, including swimmer Michael Klim, singer Natalie Bassingthwaite and pyjama designer Peter Alexander. Property Observer also noted the attendance of The Block Glasshouse’s Darren and Dee.
However, Luhrmann was undoubtedly the star of the show. On a tour of the party, the director was mobbed by attendees, who had no doubt forgotten the nearly three hour ordeal that was Australia.
<img src="/images/2014/08/21/10625049_10152411629248640_3586282144434533793_n.jpg" alt="">
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Baz Luhrmann opens Melbourne's Emporium in a riotous glitzy affair

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Super Retail Group, owner of brands including Rebel Sport and Supercheap Auto, has reported a 5.6% jump in profits for 2014.
The retail group’s net profit after tax rose to $108.4 million, while revenue lifted by 4.6% to $2.11 billion.
Super Retail Group managing director and chief executive Peter Birtles said in a statement the result, while in-line with forecasts, reflected mixed performance across the group.
Birtles said the auto retailing division was an outstanding performer with around 10% growth, but the company’s leisure and sports retailing arms had lagged.
“In the leisure retailing division, the BCF business was impacted by a slowdown in sales in stores that had previously benefited from investment in the mining industry,” said Birtles.
“The sports retailing division had a solid start to the year but performance was impacted by inventory supply challenges resulting from the implementation of new merchandise and supply management systems in October and from a slowdown in customer demand following the federal budget and a warmer start to winter.”
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Super Retail Group reports 5.6% jump in profits

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Australia’s million dollar property club hit new heights this year in what can only be described as an explosion in the number of suburbs nationally with a median value in excess of $1 million over the past year.
Sales data to June 2014 confirmed that there are now 417 suburbs nationally which boast a median value of $1 million or more, up from a healthy 312 for this time in 2013.
While Sydney claimed majority market share to make it to the million dollar club with 22 suburbs ranked in the top performing list out of 25, while Perth had two suburbs and Melbourne had just one.
<img src="/images/2014/08/21/rp-data-aug-21-one.png" alt="">
RP Data’s July combined capital city home values index shows that values increased by 10.2% over the 12 months to July 2014. As a result of robust growth, the cost of housing has increased and subsequently, there was a significant increase in the number of suburbs with a median value of $1 million or more.
As at June 2014, there were 397 suburbs nationally with a median house value of $1 million or more and 20 suburbs for units. The 417 total suburbs with a median value of $1 million or more is the highest number over the past five years.  
The number of suburbs with a million dollar price tag for houses increased by 104 over the past year while for units; the number is up by five. New South Wales in particular recorded the most substantial increases in million dollar suburbs over the past year.  
The number of New South Wales suburbs with a median value of $1 million or more is up 42% over the year.  Across the other states, there’s been a 24% rise in Victoria, 25% rise in Queensland, 44% rise in South Australia, 22% rise in Western Australia, no change in the Northern Territory and a -11% fall in the Australian Capital Territory. Tasmania has zero suburbs with a median value of $1 million or more.  
The large rise in the number of suburbs with a median value of $1 million or more in New South Wales is reflective of the strong home value growth in the Sydney over the past year.  
Over the 12 months to July 2014, Sydney home values have increased by 14.8%. Proportionately, Sydney suburbs comprise 61% of all $million plus suburbs nationally followed by Melbourne at 14% and Perth at 12%.
Of most significance from today’s million dollar findings, is the rise in the number of suburbs with a median value of more than $2 million. Last year 37 suburbs had a median value of $2 million or more while in June of this year, the number of suburbs had increased to 42.
Clearly, low mortgage rates are creating a surge in market activity. This encourages people to look to upgrading to bigger homes and in more ideal locations. We’re seeing a large slice of this activity taking place within the higher-end of the housing market and as a result, propelling home values higher and into the million dollar realm.
Looking at the suburbs with the highest national median value, Sydney’s <a href="/news">Point Piper</a> remains as the nation’s most expensive housing market.  As at June 2014, houses in Point Piper had a median value of almost $5.7 million. <a href="/news">Woolwich </a>in Sydney was not far behind with a median value of $5.5 million.
Of the 25 suburbs with the highest median value, all suburbs listed were for houses rather than units.  Twenty two of the 25 suburbs listed were in Sydney with one in Melbourne and two in Perth.  
<img src="/images/2014/08/21/rp-data-aug-21-two.png" alt="">
The results show that higher values, particularly in Sydney is becoming more prevalent.  With mortgage rates low and tipped to remain low we would expect that in 12 months’ time we will have even more suburbs with a median value of $1 million or more.  Although we anticipate the rate of value growth is likely to slow over the coming year, we do expect further increases.
A rise in suburbs with a million dollar plus price tag is great for those who own a home in these areas. For those that don’t, it highlights that these buyers have fewer housing options and continue to be pushed further away from the city centre where most of these homes in excess of $1 million are located. 
Photo courtesy of Wikimedia Commons.
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