High-profile apartment defect cases have changed the way many NSW buyers approach purchasing, putting greater scrutiny on building quality, strata records and the parties behind a development before a contract is signed.

The industry buyers are assessing today, however, is also different from the one in which cases such as Opal Tower and Mascot Towers emerged.

NSW has introduced a series of regulatory measures aimed at strengthening oversight of apartment construction, including Building Commission NSW, the Residential Apartment Buildings Act 2020 and the Strata Building Bond and Inspections Scheme. Under the latter, developers are required to lodge a bond, with independent inspections forming part of the process for identifying defects in new strata developments.

Those changes provide another layer of protection, but they haven't removed the importance of buyer due diligence.

[smartcode_project:default project_id=5743 project_image_fid=372394]

For purchasers considering an apartment, that means looking beyond the residence itself. Building and strata history, strata reports, the track record of the builder and developer, the condition of common property and any known or planned expenditure by the owners corporation can all form part of assessing a building before purchase.

Whether the development is already complete can also materially change what can be assessed.

An off-the-plan purchaser is necessarily buying before the finished product exists. A completed apartment, by comparison, can be walked through before contracts are signed, allowing the purchaser to see the finishes, common areas and broader building as they have actually been delivered rather than relying solely on plans and renders.

It also removes exposure to some of the uncertainties that exist between an off-the-plan purchase and completion, including construction delays, cost pressures and builder insolvency during the delivery period.

[smartcode_project:default project_id=5743 project_image_fid=927]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a> National Sales Director Ben Hamblett said that greater focus on tangible evidence is increasingly evident among apartment purchasers.

“The biggest shift we're seeing is buyers wanting proof, not promises,” Hamblett said.

“That's exactly why we deal in completed stock - you can inspect the building before you commit - and why we've backed every purchase with a cash bond against special levies.”

At <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> in Parramatta, that emphasis on a completed, inspectable product is already in place.

The 413-apartment, 46-level tower at 12 Phillip Street is being marketed by Projects by Equitifund, allowing prospective purchasers to inspect the residences, common areas and resident facilities before committing.

[smartcode_project:default project_id=5743 project_image_fid=375255]

The Lennox also introduces another layer to the due-diligence conversation through Strata Surety.

The vendor-funded arrangement provides purchasers with a cash-backed bond held in their own solicitor's trust account from settlement. According to Equitifund, the bond covers any special levy raised during the applicable cover period and is provided at no cost to the purchaser.

Special levies can create an unexpected cost for apartment owners where an owners corporation needs funding beyond its existing strata contributions. Under NSW strata law, a special levy requires approval by owners at a general meeting.

Equitifund Executive Chairman Greg Huxley said Strata Surety was designed to provide something more concrete than reassurance about that potential exposure.

“Buyers have every right to ask hard questions about strata risk - the industry has given them plenty of reasons to,” Huxley said.

“Our answer isn't a reassurance, it's a bond. Strata Surety puts real money behind that confidence, held by the buyer's own solicitor, not by us.”

[smartcode_project:default project_id=5743 project_image_fid=375281]

For The Lennox, its completed status also means purchasers can assess not only the apartment itself, but a building that has already been occupied and operating for several years.

Completed in 2021, the $300 million development, designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, comprises one, two, three and four-bedroom apartments, with open-plan living areas extending to private balconies. Interiors incorporate engineered timber flooring, stone benchtops and integrated appliances, while many upper-level residences have views across the river and surrounding district.

Its established amenity can similarly be inspected in operation. Resident facilities include the Watermark precinct with a 20-metre pool, outdoor terrace, barbecue areas, gym, fitness studio and conference room, while ground-floor retail addresses the river walk and surrounding public space.

The Lennox is also home to the Southern Hemisphere's first fully robotic residential car park, which has now operated for several years. Its nine-level basement combines three conventional parking levels with six automated levels, accommodating 327 vehicles using technology from German firm Lödige Industries.

[smartcode_project:default project_id=5743 project_image_fid=925]

The riverfront address puts The Lennox close to much of central <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a>'s existing infrastructure, including Parramatta Station, Westfield Parramatta, Parramatta Park, and the Church Street dining precinct.

The remaining apartments form part of a limited release secured by Equitifund, following the sale of the majority of residences before and shortly after completion.

The regulatory environment around NSW apartment construction has changed considerably since the defect cases that reshaped public discussion around the sector. For purchasers, however, regulation is only one part of the equation. The ability to investigate a building's history, review its strata position and, where possible, inspect what has actually been delivered remains central to making an informed apartment purchase.

At The Lennox, its completed status provides that opportunity before contracts are signed, while Strata Surety adds a financial backstop against special levies beyond the protections already provided under NSW strata law.

[smartcode_project_cta:default project_id=5743]

Joel Robinson

Buying with confidence: What NSW apartment buyers should check beyond the defect headlines

Too often, heritage buildings become the podium for a contemporary tower. At <a href="https://www.apartments.com.au/new-apartments/623-collins-607-623-collins-street-melbourne-vic-3000">623 Collins</a>, <a>Sterling Global</a> challenged its design team to reverse that process.

The brief to <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> was deliberately simple: "Don't design around the heritage. Design from it." It became the philosophy behind a project that draws inspiration not only from two landmark heritage buildings, but from Collins Street itself, a street layered with architectural history and civic significance.

That philosophy has shaped one of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a> CBD's most considered residential projects, where the 1924 State Savings Bank and neighbouring Batman's Hill Hotel have become the architectural foundation for 623 Collins rather than remnants preserved beneath a new development.

[smartcode_project:default project_id=145324 project_image_fid=372749]

Rather than approaching the site as a blank canvas, <a href="https://www.apartments.com.au/developers/sterling-global">Sterling Global</a> saw the existing buildings as the beginning of the story.

"Sites like this rarely become available," the developer said.

"623 Collins wasn't simply an opportunity to develop a prominent CBD site. It was an opportunity to restore and reimagine one of Melbourne's important heritage landmarks while contributing to the continued evolution of Collins Street. For us, the existing buildings weren't constraints. They were the beginning of the story."

Instead of mimicking the ornate heritage architecture, Plus Studio studied the proportions, rhythm and craftsmanship of the original buildings before translating those characteristics into a contemporary 42-storey tower.

[smartcode_project:default project_id=145324 project_image_fid=372748]

"The brief challenged us to create a contemporary landmark that respected Melbourne's architectural history without becoming nostalgic," Plus Studio said.

"Rather than mimicking heritage, we sought to understand its proportions, rhythm and material language before translating those qualities into a distinctly contemporary architectural expression."

The practice says the State Savings Bank and Batman's Hill Hotel became the project's primary source of inspiration, allowing the heritage buildings and contemporary architecture to exist "in conversation rather than contrast." Generous planted terraces further soften the transition between old and new, creating elevated green spaces while reinforcing the dialogue between the restored podium and the contemporary tower.

That dialogue continues throughout the interiors, where Melbourne designer Fiona Lynch developed a material palette inspired by the idea of alchemy, balancing contrasting materials that reference both the Neo-Grec detailing of the original bank and contemporary urban living. The result is a series of spaces that feel timeless rather than trend-driven.

[smartcode_project:default project_id=145324 project_image_fid=354343]

The project will deliver 316 residences across four collections, Heirloom, Signature, Reserve and the Penthouse Collection, with each responding differently to its position within the building, from the restored heritage podium through to the upper levels of the tower. The Heirloom Residences retain defining heritage elements including original heritage windows, generous proportions and high ceilings, while the tower introduces contemporary homes with expansive layouts and elevated views.

Amenities have likewise been designed to support long-term city living rather than short-stay convenience. Residents will have access to concierge services, wellness facilities including a pool, cold plunge, sauna, steam room and gym, alongside private lounges, entertaining spaces and dedicated resident clubs.

Sterling Global says that approach is resonating with buyers seeking permanence rather than novelty.

[smartcode_project:default project_id=145324 project_image_fid=354347]

According to the sales team, purchasers are looking for enduring architecture, generous floorplans, heritage character and long-term value, with many commenting that 623 Collins "doesn't feel like another apartment development" because of the way the architecture has been curated around the site's history.

Situated on the prominent corner of Collins and Spencer streets, the project occupies one of Melbourne's most recognisable gateway sites, marking the western entrance to the city's best-known street. For Sterling Global, it also reflects a broader shift in city-making.

"Rather than maximising development yield, the project embraces adaptive reuse as a design philosophy, allowing heritage to inform architecture, interiors and the overall resident experience," the developer said.

"The result is a building that feels uniquely connected to Melbourne."

[smartcode_project_cta:default project_id=145324]

How Sterling Global designed 623 Collins from Melbourne's history

Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

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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Long grass and leftover materials (including on vacant land)
Don’t leave your property unattended, and ensure your tenants know their responsibilities as well.
In many areas, particularly where bushfires may occur, long grass and strewn-about materials – even on your own land – can constitute a hazard.
In Victoria’s Manningham, for instance, a $2,000 fine can be incurred for allowing your property to “remain a fire hazard or unsightly”. If you don’t comply with the notice, they further inform you that they will clear the land and pass on the costs to you, in addition to the fines issued.
This is certainly not contained to Victoria, and warnings regularly make news.
Failing to empty water containers
If you fail to empty water containers in some areas, particularly in summer months, then you might face fines.
Cairns Regional Council, in February, issued warnings about fines up to $22,000 for those who have water build up. This is due to the substantial risk of encouraging the dengue mosquito to breed on your property. The Council noted that this is for situations where the ‘container’ isn’t necessarily aimed for – they point to the example of a tarp covering a caravan that was containing water, children’s sand pits, fallen palm fronds, wheelbarrows and old tyres.
The fine is usually $550 for individuals and up to $2,750 for corporations, but can span up to the higher amount if the matter is taken to court.
Overhanging plants
If any of your trees, plants, shrubs or other matter overhangs from your land onto council land, such as obstructing the footway, then you may face penalties.
Owning a dilapidated building
Fines for not keeping a building repaired, and leaving them to decay for years, can also be seen.
In Tasmania since December, for instance, new rules can see body corporate facing $50,000 fines and individual owners slugged $13,000 for not keeping their buildings up to scratch.
Leaving the bins on the kerb consistently
It’s all well and good to put your bin out a day or so early, but don’t leave it there or you may also face a fine.
In Brisbane, the council is pretty blatant about the aggravation this causes residents, noting “When bins are left out on some of Brisbane's narrower footpaths, they can force pedestrians onto the road.” Bins “continually left on the footpath or kerb” may be investigated and fines may be issued. Those who do not have a reasonable excuse for bringing their bin back in may face an “on the spot” fine.
It’s not clear whether the tenant or the property owner is slugged this fine, but it might be worth reminding your tenants of your council’s rules.
Not keeping up to date with swimming pool standards
Rules around pool fences and associated requirements change regularly and can differ from state to state. Property Observer knows of one property owner fined for not having a resuscitation poster on the wall in Sydney, while many others will face $220 in fines for not registering their pool on the New South Wales pool register.
In some areas, having tall pot plants or chairs around your pool fence – that a child could climb up using – could see you facing fines. In the Hills Shire Council in New South Wales, for instance, 900 millimetres is the suggested minimum distance for any objects around the fence. Specific heights, materials and other considerations are also required to avoid facing a fine for an unsafe swimming pool.
While ‘spa pools’ may not need to be surrounded by a fence, they do need a child-proof cover.
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jduke-EHk3XBmHkn

Six things you can be fined for as a property owner

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I had learnt a little about suburb lifecycles recently  - how a suburb can change over time.
Generally speaking new areas usually attract young couples and families, but also some mature aged people like grandparents wanting to be close to their grandkids and who can help support and care. So it's important that new areas do have a mix of housing available. 
I've recently been researching a new location after finding a good dual occupancy development site there. 
In the past, I have put this suburb aside as the land was expensive and generally lot sizes smaller, however a large enough site came up and as I ran the figures on it, my heart beat increased!
This suburb was experiencing fast growth due to new land estates opening  and there was a fair amount of land to be released in the location. Because of this, the government had allocated money for community services, facilities and infrastructure.
The suburb is also very well located being only 20 minute drive into Newcastle CBD.  In the new estates, it was predominately large four or five bedroom family homes being built and even though the land was expensive reflecting the facilities of the master planned estate, after some research I could see the opportunity for good demand for smaller dwellings.
The area was popular with families building new homes and wanting to be close to good quality schools - there is a well regarded primary and high school within walking distance. Parents could work in Newcastle and be home early for the family.
The estate offers a bushland location with beautiful views over wetlands, quality sporting fields, a community centre and a new shopping village had popped up within five minutes with a shiny new Coles open and Aldi store under construction.
The M1 freeway access to Sydney is just a few minutes drive away. This estate was well placed location wise and also for future growth.
For me, building three bedroom villas in a location that is dominated by four or five bedroom houses makes a lot of sense. There would be several markets for these villas on completion; young people who can't yet afford to build the larger homes, separated people looking for smaller dwellings, single parents and empty nesters looking to downsize. I think if the location and facilities are good, a lower entry point for rent and sale prices - can be a good differentiation for your development.
Also sales of the larger, more expensive dwellings could impact positively on the values of smaller dwellings if there are no direct comparable sales.  There could be good demand from renters wanting all the benefits of the estate for a smaller outlay.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

A good mix of dwelling size is important

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The federal budget certainly sent shock waves through the economy, but according to the ANZ-Roy Morgan consumer confidence index it appears to be recovering.
Consumer confidence has improved a further 2.4% over the past week, bringing the total improvement in confidence to 6% over the past month.
Also helping investors feel comfortable is the fact ME Bank are still offering a three year fixed rate at 4.69%, which gives investors more confidence about the future.
Property investors have already begun to re-enter the property market, but these two events are only going to add to the momentum. They will begin to change their thinking from ‘if’ they should buy property to ‘what’ they should buy and will be torn between the logic of two radically different investment strategies.
One says it’s always best to buy property that’s positively geared. This means that holding costs like council rates, insurance, maintenance and interest on the loan are less than the rental income received.
The second argument says it’s better to buy property that’s negatively geared, meaning that holding costs are greater than the rental income received. You fund the shortfall from your own pocket, giving you a ‘negative income’ which you then claim as a tax deduction.
In reality, these arguments are doomed to go around in circles. There’s no one right or wrong answer that applies to every investor. Each purchasing strategy has its upside and downside; both of which should be considered before making a decision.
Let’s start by looking at positively geared property. Generally speaking, the high-buy in price of most properties in capital cities means that to buy a positively geared asset, you must purchase in a regional or rural area where prices are lower. This may leave you with a relatively modest mortgage, making it easier to enter the property market, and easier to fund the holding costs from rental income alone.
The downside, however, is that positively geared property may have a lower capital growth rate. Every property’s value is determined by the ratio of two components: the land and the building. Land appreciates, or grows in value; whilst buildings depreciate or fall in value.
In regional and rural areas, land values per square metre tend to be low because there’s plenty of land available compared with the level of buyer demand. This means the building accounts for most of the asset’s value. The building may lose value faster than the land can gain value—hampering long-term capital growth.
Let’s compare this with buying negatively geared property. When the buy-in price is high, the land value probably is. This is the upside of negative gearing; you’re more likely to have purchased in an area with a limited supply of land relative to buyer demand. The land component makes up a higher proportion of the property’s overall value, giving the asset strong capital growth potential.
On the downside, buying a negatively geared asset means that whilst your long-term risk may be lower, your short-term risk may be higher because you have to find a way to fund the difference between holding costs and rental income from your own pocket. This can create cash flow pressure, particularly if you incur an unexpected expense such as an interest rate rise or urgent repair.
In short, it’s a case of short-term gain and possible long-term pain (positively geared property) versus short-term pain for possible long-term gain (negatively geared property). To decide which is right for you, it’s important to assess your financial circumstances.
First, consider your level of disposable income. If you have spare cash to cover the difference between your holding costs and rental income, buying a negatively geared property may be appropriate. On the other hand, if your budget is tight, negative gearing may be too hard an ask, and a positively geared property may be a better way to go. The capital growth won’t be as strong, but at least you’ll be in the market.
Second, consider how long you’ll be earning a good income. To ride out market fluctuations and recoup purchasing costs, property should be viewed as a long-term investment; at least seven to 10 years. If you’re close to retirement and a substantial drop in income isn’t far away, adopting a negatively geared strategy may not be viable. In this case, you should consider investment options that don’t require you to contribute funds from your own pocket. By contrast, if you’re many years away from retirement, you may have enough income over the long-term to fund the shortfall from your wage or salary. 
Whichever gearing strategy you choose, go into it with your eyes open.
Mark Armstrong is a director of <a href="https://ratemyagent.com.au/" target="_blank">ratemyagent.com.au</a>, Australia’s number one real estate agent rating website.
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Positively or negatively geared property: Which strategy will work best for you?

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A Melbourne-based CBD building has been on the market for just 12 hours before being purchased for $5.4 million, or 4.29% yield, by a China-based family. This equates to $18,500 per square metre.
The property, at 355 to 357 Exhibition Street, is a three-level 880 square metre building. It includes ground floor retail and four upper level apartments. The site itself is 291 square metres and is diagonally opposite Carlton Gardens.
The property was sold fully-leased to six tenants, and includes a mix of retail and residential renters. Most are on short-term leases, and it equates to $232,000 per annum.
Savills Australia head of city sales and investments, Clinton Baxter, and Nick Peden, negotiated the sale, and said that a number of highly motivated investors were rushing to make offers.
“This is yet another example of the rush to buy Melbourne property at the moment, rush being the definitive term. The phone literally ran hot resulting in numerous potential purchasers making inspections within hours of hitting the market,” said Baxter.
“This reflects the strong demand for well located smaller freehold properties within the CBD, properties which are increasingly shrinking in number as major development takes over the central city area,” he said.
The building is placed for future highrise development and would have desirable views.
The vendor had held the building for 33 years and was a local private investor.
It appears that the tenants include Tourism Malaysia and a Thailicious.
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Just hours on the market and… sold, to an offshore family for $5.4 million

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The recently floated Arena REIT sold 10 Victorian and NSW childcare centres at Burgess Rawson auction today for a combined $14.2 million reflecting an average 6.9% net yield.
Given 16% projected growth in number of children 0-4 years from 2013-2025, yields were as low as 5.4% at <a href="https://melbourne.burgessrawson.com.au/buying/VIC/East/Templestowe/Retail/3P0820" target="_blank" style="line-height: 1.3em;">Templestowe in Melbourne</a> (pictured above) with a $1.73 million sale. The lease was 15 years to Imagine Applied Education Services Inc with two further terms of five years, each with a five year notice period. There are annual CPI reviews with a 2.5% minimum increase, with the next market review date in 2019, when the rent cannot be reduced as a result of market review and is uncapped.
The tenant is responsible for rates, insurance and repairs and maintenance (including structural), management fees and land tax (where applicable). 
The income was $93,102 per annum.
A 9.2% Tamworth childcare centre on a short term lease sold for $620,000.
Six sales came with leases to Australia’s biggest childcare operator, Goodstart. Goodstart is owned by the charitable organisations The Benevolent Society, Mission Australia, the Brotherhood of St Laurence and Social Ventures Australia.
Arena reported earlier this year that it controlled a $325 million portfolio of childcare and healthcare properties with 177 childcare properties.
Morgan Stanley analysts recently advised there were strong fundamentals in the childcare and healthcare sectors, the Australian Financial Review noted.
The listed property trust sector (A-REITs) gained a new participant with Arena floating with a share price of $1.05 in June 2013, representing a premium to its then net tangible assets of $1 per share.
The joint managing directors of the Melbourne-based fund are James Goodwin and Bryce Mitchelson. It was established as an unlisted trust in 2003 investing into childcare centres. 
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Average 6.9% yields as Arena REIT childcare centres sell

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BIS Shrapnel notes that there will be little change over 2014 for Sydney’s CBD office vacancy, having anticipated that the recovery in net absorption of office space will be slow.
The modest recovery will be underpinned by three factors:
<ol>
<li>Stronger business confidence 
</li>
<li>Robust share market performance 
</li>
<li>Economic growth picking up at state/national level</li>
</ol>
These reasons may make it more likely that companies will lease more office space, but even so it is unlikely to affect the vacancy rate, according to BIS Shrapnel’s Sydney Commercial Property Prospects 2014 to 2024.
By the end of this year, we’re expecting vacancies to have fallen by 0.3%.
Lee Walker, senior project manager and report author, said that the pick up in net absorption would provide a welcome relief for office landlords.
“[Some] market participants expect office stock withdrawals for residential conversion will see the CBD market tighten rapidly as developers look to take advantage of a strengthening residential market. However, the importance of withdrawals for residential conversion in the near term should not be over-stated,” said Walker.
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" alt="">
Not all planned conversions will occur immediately, with existing tenant leases slowing down the process.
This has BIS Shrapnel expecting that over the next three years, 110,000 square metres of office space will be permanently withdrawn from the CBD. Just 20,000 of this is expected over 2014.
“Unfortunately, anyone hoping for a quick turn around in the Sydney CBD office market is likely to be disappointed” concluded Walker.
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The three factors behind Sydney's office market recovery

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Leighton Holdings Limited has sought expression of interests in their 50.6% investment in Devine. 
The process is preliminary and there are no assurances that a sale of the Leighton investment in Devine will be finalised, the ASX has been notified today.
Leighton Holdings is also seeking a quick sale of its $1 billion-plus John Holland and Services businesses.
The company’s stake in listed firm Macmahon Holdings scheduled for likely sale.
John Holland’s aircraft maintenance business is already for sale.
Leighton also owns 45% of the Middle Eastern construction company, Al Habtoor which is being readied for a possible IPO in 2016.
It's all part of Spain’s ACS restructure of the iconic Australian construction company.
Devine shareholders will <a href="/expert-insights/investing/dismal-devine-limited-attacked-by-shareholder-for-missing-the-housing-boom">await the sale process with interest</a>.
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Leighton looks for Devine stake buyer

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Earlier today Scentre Group, Westfield‘s new Australian and New Zealand shopping mall company, started trading on the ASX, with a $3.21 million debut price Wednesday June 25.
Shares were later trading at $3.11 under the ticker SCG.
Opening at $6.70, Westfield Corporation, which will be the international iconic malls company of the Lowy family, was later trading at around $6.78 under the ticker WFD.
The two new groups are trading on a deferred settlement basis set to commence normal trading on Thursday week.
Scentre Group closed at $3.08 on Wednesday. Westfield Corporation closed trading at $7.05.
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Westfield and Scentre Group start trading anew

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A Toorak Village retail property boasting a double height shopfront façade has sold for $1.848 million.
Fitzroys agents Michael Ryan and Charles Emmett undertook auction campaign and noted a significant amount of local and offshore interest.
“The well-attended auction saw two bidders competing, with the property ultimately sold to an offshore investor,” said Ryan.
The 462 Toorak Road property including 123 square metres of building area and is northfacing. It is zoned Commercial 1 and was offered subject to a seven year lease with a further seven year term to Higgovale Fashion Distribution, and Christensen Copenhagen.
It returns $103,415.50 per annum plus GST.
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Toorak Road's $1.848 million retail sale to offshore investor

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A freestanding office building at Braeside, in Melbourne’s south-east, has been purchased by an accounting firm for $1.165 million.
It is a 509 square metre, two-level building with glass paneled façade. At 232 Boundary Road it also includes 21 on-site carparks on a 1,113 square metre site, and is fully-fitted office accommodation.
The firm is expected to occupy the top floor.
The property was sold subject to the ground floor lease returning $45,000 per annum net.
The property was bought at an auction held by Savills Australia Notting Hill.
Selling agents Daniel Kelly and Cameron Stuckey said that it would benefit from infrastructure and amenity redevelopment nearby Moorabbin Airport.
“This was an ideal purchase for a firm which was looking for an attractive, well-located, building which could also offer both capital growth and ongoing rental returns,” Kelly said.
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