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

<html><body>
I caught up with a friend last night after she returned from a great holiday. As the conversation steered from cruise ships to saving money, she voiced her aspiration to purchase an investment property.
At 32 years old, I was thrilled to hear from someone so young – just shy of her 21st birthday in fact – who is already contemplating her financial security for later in life. I believe that the best executed plans in life are always those that are planned as early as possible. The thing about starting in property investing at a very young age is this: at just 20 years young, my friend will face a slew of challenges.
However, these challenges should not deter her. In fact, well-planned property buys at a young age can really expedite growth and gain for later in life. You just need to find work-arounds for the (many) challenges you will face.
Here’s a list of considerations for very young (under-25) aspiring investors.  
Identify whether property is the right investment class for you  
A property is a big commitment for anyone, but especially for a young person. I say this because between the ages of 18-25, young people are likely to have many lifestyle changes, and most of these will be unexpected. First are the financial ones: moving out of home, working part time if a student and earning a modest – and sometimes inconsistent – salary. Then there are the lifestyle ones: deciding to go backpacking for a year randomly, changing study courses or stopping/starting full time work for study reasons. Plus, as the busiest social years of your life there’s partners, friends and parties/adventures away.
What I’m getting at is this, it can be an unpredictable and inconsistent time in your life. Property investing best suits people who are disciplined and understand it is an ongoing commitment that requires focus. For this reason, investment classes that are less admin-heavy – such as shares, term deposits and managed funds – can be more attractive and a safer investment for first time younger investors.  
Managing your own expectations  
It’s smarter to do this yourself, because there will be many other parties (parents, lenders, solicitors, and so on) who will be the quick to serve you reality checks at every stage. This won’t happen as often and won’t disappoint or deter you, if your expectations out of an investment property exercise are more realistic.
At a young age it can be hard to distinguish between, say a pretty property that you ‘like’ because you think it’s a nice place to live yourself, with a property that stacks up well as an investment. Investing is not about that experience – that’s what home buying is for. No, investing is about numbers. Managing your own expectations on how you expect an investment property to look and feel, versus the reality of a property, is one of the first things you need to do.  
Savings, savings, savings  
Before you even consider budget and spend range; know this. For under-25’s and especially for under-21’s, a lender will want to see at least 12 months of consistent savings before giving loan approvals. Racking up credit card debts won’t look good either (though if you have one and are paying it off diligently, this might serve you well). Lenders want to see evidence of consistent savings efforts.
On this, it is worth considering some government savings incentives currently on offer for first home saver accounts. With these kinds of accounts you are rewarded with government contributions in proportion to the amount you contribute. Do be weary of the terms and conditions with these accounts, however, as some accounts have penalties or restrictions on pulling your savings out earlier than the term date for the accounts. Many lenders offer these kinds of saver accounts in collaboration with the Australian government. Here is <a href="https://www.infochoice.com.au/banking/savings-account/first-home-saver-accounts/" target="_blank">a great comparison site</a> for several of these saver accounts.
Be realistic about your budget
As an extension of the above point; it is unrealistic for an under 25 year old (unless they have managed to secure a very above-average wage for their age) to spend say $500,000 or $600,000 on their first property – home or investment. In fact; odds are most lenders will turn you down. Even if they didn’t, I would not personally spend that much money on a property at such a young age. It is too much of a commitment. If you are a teenager or in your early 20s I’d look at a maximum spend of $200,000 to $250,000 on your first investment property. Securing finance will be easier; and managing the property will be more realistic.  
This may mean you can’t afford your own backyard 
Based on a $250,000 maximum spend rate, you will need to assess where you can afford to invest. Odds are, if you currently live within a 20 kilometre radius of Sydney, Melbourne, or Perth, it’s highly unlikely you will be investing near where you live. Challenge yourself to consider towns and cities that aren’t your own, or even within your home state. The key to successful location-sourcing for investment properties is not simply in following trends of ‘hot suburbs’ reported in the media, but on suburbs where the sums add up to produce a viable investment prospect.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a href="https://www.propertycorrespondent.com.au/" rel="nofollow" target="_blank">Property Correspondent.</a>
                        
</body></html>

cmcevoy-Go82SmsJA9

Five tips for young aspiring property investors

<html><body>
The light at the end of the tunnel has arrived for Australia's accommodation market, with supply levels hitting a record high last year.
Research from JLL's latest Top Hotel Owners and Operators Survey showed that accommodation supply rose 1.3% to 230,064 rooms at the end of June 2013, which it described as a "positive sign" that the market is "once again poised for growth after the uncertainty of the past few years".
After declining in 2012, it said, serviced apartments emerged as the growth sector in 2013 with room supply increasing 2.6% year-on-year with the addition of 1,442 keys. That compared to growth of 1.9% (1,683 rooms) in the hotel sector and a 0.3% decline in motel rooms (-229 rooms), revealed the report, which is based on supply levels across the hotel, motel and services apartment sectors.
Of the 230,064 accommodation rooms in Australia, the top 10 owners accounted for 11.3% (26,085 rooms) of total room supply at the end of 2013 and the top ten operators 40.7% (93,691 rooms).
The survey noted that the top 10 owners recorded a 1% lift in rooms in 2013 with the addition of 267 rooms.
<img alt="JLL_Australia_top_ten_owners_-_chart-march-5" height="375" width="470" src="/images/stories/2014/03/05/JLL_Australia_top_ten_owners_-_chart-march-5.gif">
Source: JLL. Note: * Includes joint venture properties with Far East
Last year also brought one new entrant into the top ten - the Abu Dhabi Investment Authority (ADIA) - following its acquisition of the Tourism Asset Holdings (TAHL) portfolio. The sale saw TAHL exit the sector after more than a decade in the top spot, it said.
"The transaction represented the first major direct hotel acquisition by a Middle East group in Australia...," said JLL's Hotel &amp; Hospitality Group chief executive for Australasia, Craig Collins.
"Offshore groups now account for 53% of rooms owned by the 30 largest accommodation owners in Australia".
Offshore investors, the survey showed, were predominantly from Asia, albeit with an increasing proportion of rooms held by Middle Eastern and global groups.
"This indicates how globalisation trends are gaining pace once again in the new era of hotel investment", JLL said.
The survey highlighted that operating groups have been very active over the past year, resulting in some significant changes to the top order.
<img alt="JLL_Australia_top_ten_operators_-_chart-march-5" height="350" width="470" src="/images/stories/2014/03/05/JLL_Australia_top_ten_operators_-_chart-march-5.gif">
Soure: JLL. *Note: Not provided, sourced from website
Collectively, the top ten increased their portfolio holdings 2.5%, bringing the total rooms under management to 93,961 across 963 properties.
However, JLL also said that four companies achieved double-digit growth, with the biggest gains recorded by Toga Hospitality - up 30.4%; Hilton 27.9%; Best Western 12.1 % and Oak Hotels &amp; Resorts 10.7%.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a> 
                      
</body></html>

kjiminez-eaYKfU7qd2

Accommodation market supply levels hit record high: JLL

<html><body>
This week I’m drilling into the first of <a href="https://www.propertyobserver.com.au/office/the-seven-forces-that-are-transforming-your-office/2014021867634" target="_blank">seven key forces</a> influencing contemporary workplaces. The shadow still looming over corporate Australia and many other countries is what we call the "new world economic order."
Following the global financial crisis (GFC), organisations are more conscious about their costs and cautious about their spending, while many individuals may be a little more tolerant about working conditions in order to safeguard their employment. This is translating to a lot of property consolidation as organisations compact themselves into a smaller footprint and release or sublease excess office space.
I've looked previously at the <a href="https://www.colliers.com.au/sitecore/content/Global/News/2013/September/How_to_cut_accommodation_costs_by_20_per_cent.aspx" target="_blank">ways organisations use less space</a>, through space intensification and more recently hot desking strategies.
We've seen many organisations trying to combine efficiency with a more effective workplace - increasing the variety of work settings and implementing flexible mobile technologies. Our research looks at the adoption of flexible working as a workplace strategy and found that one in three organisations had already deployed it (to at least part of their workforce) or had firm plans to do so. We think this level of interest was clearly driven by the impacts of the GFC and wonder if the catalyst of a certain investment bank's celebrated activity-based working implementation in Sydney (occupied in 2009) would have had the same level of impact on market trends if it had been rolled out in, say, 2006 when the economy was still riding high. At the other end of the spectrum we're also seeing many organisations defer refurbishments or relocations, preferring to sweat their accommodation assets rather than sink capital into a new fit out. Our research shows 15% of tenants are more likely to renew and stay put with a further 30% focusing on cost savings. In cases where the existing workplace is not aligned with the organisation's employment brand or is impeding productivity or restricting opportunities for collaboration, this could be a case of robbing Peter to pay Paul.
The latest ME Bank Household Financial Comfort Report shows job insecurity is in the top three money concerns noted by respondents. As such, employees may be more accepting of older fit outs, lower quality buildings, fringe locations or desk sharing arrangements. There's a realisation too, that spending on a flash office fit out has a direct and long lasting impact on a firm's bottom line. Workplace projects that achieve a balance between cost savings versus staff amenity and other benefits may be viewed more favourably by current and prospective employees.  Conversely, while there's no evidence that people leave organisations primarily because of physical workplace arrangements (it's more likely to do with relationships with colleagues, pay, or the work itself), it can be an influencing factor in some cases.
In the various top employer rankings there are many examples of high ranking organisations where the workplace arrangements are cited as a significant strategic factor. In times where many organisations are tightening the purse strings on accommodation, those that do invest in workplace arrangements that appeal to employees may derive some advantage in the so-called war for talent.
But it's important to understand what will appeal to the employees you want to retain - those with the right cultural and productive fit - as opposed to those you don't. For instance, if many of your competitors have introduced desk sharing, perhaps the retention of assigned seating could be a point of difference.
David McEwen is a management consultant working at the intersection of workplace strategy, sustainability and technology with <a rel="nofollow" target="_parent" href="https://www.colliers.com.au/%E2%80%8E">Colliers International</a>.
You can connect with David on <a target="_blank" href="https://www.linkedin.com/profile/view?id=9321351&amp;locale=en_US&amp;trk=tyah&amp;trkInfo=tas%3Adavid">LinkedIn</a>.
This article first appeared on <a href="https://www.colliers.com.au/News.aspx" target="_blank">Colliers International News</a>.
                               
</body></html>

dmcewan-RAeaafS4AZ

A flash new office? I'm worrying about my job!

<html><body>
The conflict in Ukraine has escalated with Russia sending in 6,000 troops and naval forces to the Crimean peninsula on Sunday, triggering a standoff between Russia and the West.
The action by Russia sent waves of caution through investors globally, with stock markets worldwide falling on the news.
Last month Ukraine President Viktor Yanukovych was overthrown by the Parliament, following bloody anti-government protests in the nation’s capital of Kiev.
The protests were triggered when Yanukovych rejected an accord with the European Union in November 2013 and instead formed stronger ties with Russia, angering locals who had long pushed for greater integration with Europe.
The protests started peacefully, but escalated when the authorities became involved, with student protestors beaten and opposition activists supposedly abducted.
On February 20, 77 people were killed and nearly 600 wounded in a 48-hour period.
As diplomatic tensions in the region rise, we takes a look at how the instability could influence the Australian and global economies.
So Russia has sent 6,000 troops to the Crimean peninsula in Ukraine and the West disapproves. Is this having an impact on global markets?
In short, yes. The impact globally is varied, but there’s no doubt investors are wary and this is being translated into falls on sharemarkets around the world.
JPMorgan chief economist Stephen Walters said the financial markets “are watching”.
“In Europe markets fells 2-3% yesterday. Germany was down almost 3.5%, the UK fell 1.5% and France lost 2.5%. Generally there were greater losses depending on the closeness to the regions,” he says.
“In the US the Dow Jones lost 1%, so it’s watching. The US involvement here is distant, but clearly it has been involved in diplomatic conversations.”
In Russia the stock market was down 11.5%, as the rouble has fallen to near record lows against the US dollar and the euro. Russia has also raised interest rates by 1.5 percentage points.
So the conflict is making investors more wary globally, but has this impacted Australia?
Ukraine’s direct impact on Australia is relatively small, as we don’t trade with the region in a significant way. However, our sharemarket regularly takes its lead from global markets.
Yesterday the S&amp;P/ASX200 benchmark closed 20.50 points lower, down 0.38%. The loss was minimal compared to other markets, but Walters says today might be a different story.
“We could see a greater impact today following the losses on global markets yesterday,” he says.
Walters says the impact of the conflict in the coming weeks is unknown.
“If the situation is diffused and diplomacy wins, everything could return to normal, but if it escalates, so could the economic impact,” he says.
Evidently stock markets have fallen here and around the world, but what’s happening with commodities?
Oil and natural gas prices have been pushed higher, as Ukraine is home to one of Europe’s major gas pipelines, with the gas controlled by Russia.
Brent crude (a major benchmark price for the purchase of oil worldwide) rose by 2.1% yesterday to $111.38 a barrel on the ICE Futures Europe exchange.
The West Texas Intermediate also jumped yesterday to a 23-week high on the back of the crisis.
“There have been quite significant developments already,” Walters says.
“If oil prices keep going up, this will result in energy and petrol price increases.”
Walters says the crisis is having an impact on oil prices because Ukraine is a “strategic region”.
“We also saw this take place in Bahrain last year. However, if there’s an issue somewhere else, you don’t necessarily see this kind of impact. For this region, the response of oil prices is typical.”
Oil and gas prices are on the rise, but what about gold?
As investors are more cautious of risky investments, many turned to gold yesterday, sending prices higher.
“Gold is a safe haven flow,” Walters says. “You buy gold when there are global tensions, or natural disasters like what happened with Fukushima in Japan.”
Obviously there are some pretty significant economic impacts of the crisis, but what does the Australian government think about all this?
Ukrainian Prime Minister Arseniy Yatsenyuk said yesterday Russia and Ukraine are on the brink of war and the Western governments have criticised Russia for invading Crimea.
Prime Minister Tony Abbott told Parliament yesterday a trip to Moscow by Trade Minister Andrew Robb had been cancelled in light of the action, as was a visit to Australia by Russia’s National Security Advisor Nikolai Patrushev.
“It should withdraw its forces from the Ukraine and the people of the Ukraine ought to be able to determine their future for themselves,” Abbott told Parliament.
“The situation in the Ukraine is fluid and it’s threatening; all Australians are rightly concerned about that.”
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
      
</body></html>

yredrup-o4Anfe78KF

What does the conflict in Ukraine mean for the Australian economy?

<html><body>
If you thought glamour was only to be found in sprawling estates or full floor penthouses, think again. Here are five townhouses which prove that there’s something to be said for staying attached.
<a href="https://www.realestate.com.au/property-townhouse-qld-main+beach-107058326" target="_blank">94 Seaworld Drive, Main Beach, Queensland</a>
{yoogallery src=[images/stories/2014/03/04/main]}
This three bathroom, three bedroom townhouse on Seaworld Drive in Queensland’s Main Beach is part of the Palazzo Versace, the former home of <a href="https://www.propertyobserver.com.au/news/geoffrey-and-byrnne-edelsten-s-palazzo-versace-gold-coast-apartment-set-for-auction/2014011367174" target="_blank">Geoffrey and Brynn Edelsten</a>.
The property’s interior takes decadence to the extreme, with timber parquetry floors and more marble than most people could handle. A new resident would enjoy 24 hour security, a concierge service, marina views and a 60 foot berth for the yacht.
Article continues on next page. Please click below.
                                  
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-townhouse-nsw-kirribilli-112871591" target="_blank">1/51-55 Upper Pitt Street, Kirribilli, New South Wales</a>
{yoogallery src=[images/stories/2014/03/04/kir]}
The next property on our list is somewhat more demure.
The unfurnished three bedroom, two bathroom townhouse at Kirribilli has spacious rooms, with high ceilings and marble floors.  But its real drawcard is its location – the two storey townhouse is situated less than a hundred metres from Kirribilli House, and has the best views of the Sydney Opera House and the Harbour Bridge we’ve seen in a while.
Agent Jim Yang of Keith Soames Real Estate is advertising the property at $4.5 million.
Article continues on next page. Please click below.
                     
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-townhouse-vic-toorak-115063251" target="_blank">27A Balmerino Avenue, Toorak, Victoria</a>
{yoogallery src=[images/stories/2014/03/04/too2]}
When most of us hear “townhouse”, we usually assume that living space will be at a premium. Not so for this Toorak home.
With basement parking and lift access, the Balmerino Avenue townhouse has two above ground levels that house four bedrooms and two bathrooms.
The home also includes expansive living and dining areas on the ground floor, and a home theatre and laundry in the basement.
The house has a 5 star energy rating.
Article continues on next page. Please click below.
                             
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-townhouse-nsw-woollahra-116232083" target="_blank">6/89 Ocean Street, Woolahra, New South Wales</a>
{yoogallery src=[images/stories/2014/03/04/woo]}
This Woolhara townhouse once existed as the rear wing of a 1890s mansion, which has now been converted into six strata residences.
Located in one of Sydney’s premier suburbs, the home has four bedrooms and three bathrooms.
The living areas of the townhouse are where the home really comes into its own – the house includes a triple height foyer, an expansive open plan living room with Italian marble credenza and a fireplace, and a large private outdoor terrace. The living areas also have Italian volcanic stone heated floors.
The house is selling through Sotheby’s International Realty.
Article continues on next page. Please click below.
                                
<hr class="system-pagebreak">
<a href="https://www.realestate.com.au/property-townhouse-vic-brighton-116098119" target="_blank">1/13a Dendy Street, Brighton, Victoria</a>
{yoogallery src=[images/stories/2014/03/04/bri]}
One of three townhouses set on a single block of land on Brighton’s Dendy Street, this property is on the market for $2 - $2.2 million through Buxton.
The English coach style home was inspired by architectural drawings from the 1800s. The home’s basement is dedicated to a large home theatre, while the ground floor includes an open plan living area and dining area with a gas log fireplace, with French doors opening onto a paved courtyard.
Upstairs, there is a marbled bathroom and the home’s three bedrooms, including a master bedroom with sea views.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
                             
</body></html>

jrichardson-uRX5hFdKfN

The five most beautiful townhouses on the market

<html><body>
While Andrew Demetriou was doing his best to steal the limelight at a press conference at AFL House, the movers and shakers of Melbourne’s architecture scene were gathered at the other end of town for the <a target="_blank" href="https://www.propertyobserver.com.au/victoria/quentin-bryce-officially-opens-victorias-new-home-of-architecture-41-exhibition-street/2014030268113?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">opening of 41X</a>.
The new commercial tower at 41 Exhibition Street in Melbourne was developed by the Australian Institute of Architects, who began proposals for the site eight years ago. Yesterday, the organisation was joined by strata owners, tenants and friends of the institute like former premier Ted Baillieu to launch the building with Governor-General Quentin Bryce and the institute’s president, Paul Berkemeier.
<img src="/images/stories/2014/03/04/bryce-march-4-one.jpg" width="470" height="247" alt="bryce-march-4-one">
Photo: Governor-General Quentin Bryce speaking at the opening of 41X, supplied. 
Bryce, an architect’s wife herself, spoke of the importance of good architecture to the community and its role in improving overall quality of life. To her mind, with the development of 41X, the Australian Institute of Architects has lived up to its mission statement, “making the world a better place through architecture”.
The 21 storey 41X will be home to 15 tenants, with the Australian Institute of Architects national president Paul Berkemeier noting that many had signed on early in the development process. Sotheby’s Australia will occupy two floors, with one devoted to its gallery and another for its offices. Other occupants include law firm Anzarut &amp; Partners and Lion Capital, along with the Australian Institute of Architecture’s Melbourne offices which occupy five floors. The building is strata-titled, with insurance firm Planned Cover owning three floors. The floor’s first level will be a dedicated “design haven”, with a café and a comprehensive design and architecture bookstore.
Set on a narrow footprint, the building was designed by Lyons Architects after a two-stage design competition, with the internal fit outs of the institute’s levels by HASSELL. The tower was designed with sustainability in mind, and the institute is targeting carbon neutrality over its 30 year operating lifespan – the first building in Melbourne to do so. According to Berkemeier, this target will account for embodied energy, base building operational energy, transport and waste, and will be using both operational strategies to ensure its low carbon output as well as offsetting emissions off site. The $31 million building has a Five Star Green Star design rating.
On the 21st floor of the new 41X, overlooking the Yarra River, Birrarung Marr and Treasury Gardens, there were murmurs among architects that it had been a slow year so far for the industry. But those murmurs were quickly drowned out by the buzz for Australia’s new home of architecture.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
                      
</body></html>

Industry gathers to celebrate Australia's new home of architecture, 41X

<html><body>
One of RP Data’s core services is supplying real estate agents with timely property data to assist them with undertaking comparative analysis of their local market place (amongst other things), which they in turn use to determine the appropriate listing price of a property.  Our services are used by approximately 70% of all real estate agencies nationally.  One of the important bi-products of our market share is monitoring the level of agent activity across our data platforms.
As a simple example, counting the number of Comparative Market Analysis (CMA) reports as well as monitoring other platform activity such as the number of logins and searches provides a unique insight around the number of homes which are likely being prepared for sale.  We use this metadata to provide a lead indicator for new listings about to enter the market.
RP Data’s Listing Index (RLI) is currently at record levels after the seasonal slump in real estate agent activity.  It’s normal for the market to slow down over the last week of December and throughout most of January; the slump is typically followed by a surge in real estate agent activity as industry participants emerge from the festive period.  The graph below tracks the national RLI. We recorded more than 65,000 activity events from real estate agents over the 28 days ending February 9, which is a record number across the series which extends back to January 2009.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/02/National.jpg" rel="wp-prettyPhoto[g2882]" style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; vertical-align: baseline; background-color: transparent; color: #bf0000; text-decoration: none;"><img class="aligncenter size-large wp-image-2889" alt="National" src="https://blog.rpdata.com/wp-content/uploads/2014/02/National-580x154.jpg" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="125" width="470"></a>
The activity occurring across the RP Data platforms correlates well with the number of new listings entering the market over the coming weeks so we are expecting more properties to hit the market for sale as we approach the autumn season. Prospective vendors are likely to be confident considering the current housing market conditions are mostly favouring sellers rather than buyers – putting it simply, it’s a great time to be selling a property.
There is some variability in the amount of activity we are seeing from region to region.
Sydney’s RLI has returned to a level slightly higher than last year which is normal for this time of the season.  The index was elevated over the second half of 2013 in line with the strong housing market conditions and we expect listing numbers to track at roughly the same rate as what was recorded over the past six months which has been about 7,500 new listings each month.   Considering the run rate of sales across Sydney is tracking at about 8,860 per month we expect effective supply levels to remain tight across the Sydney market.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/02/Sydney.jpg" rel="wp-prettyPhoto[g2882]" style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; vertical-align: baseline; background-color: transparent; color: #bf0000; text-decoration: none;"><img class="aligncenter size-large wp-image-2891" alt="Sydney" src="https://blog.rpdata.com/wp-content/uploads/2014/02/Sydney-580x149.jpg" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="121" width="470"></a>
In Melbourne the RLI is at record levels; the second half of 2013 saw a consistent ramp up in agent activity in line with the strong housing market conditions that were very much evident over the same period of time.  The post festive season surge will settle around the first week of March, so we would expect agent activity to return to approximately the same level we were recording at the end of 2013.  New listing numbers across Melbourne were tracking at around 7,800 per month compared with a run rate of sales of about 7,400 per month so we are potentially going to see an increase in total effective supply levels across Melbourne over the coming months.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/02/Melbourne.jpg" rel="wp-prettyPhoto[g2882]" style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; vertical-align: baseline; background-color: transparent; color: #bf0000; text-decoration: none;"><img class="aligncenter size-large wp-image-2888" alt="Melbourne" src="https://blog.rpdata.com/wp-content/uploads/2014/02/Melbourne-580x151.jpg" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="122" width="470"></a>
Brisbane agent activity is absolutely surging at the moment with the RLI for Brisbane moving about 20% higher than what was recorded during mid-December.  It is likely the Brisbane housing market is right on the cusp of accelerated market activity as attention moves away from Sydney and Melbourne to Brisbane where capital gains to date have been modest, yields are substantially higher and affordability isn’t as much of a concern as the other major capitals.  We have been seeing an average of about 3,900 new listings enter the market across Brisbane each month compared with a run rate of sales at 3,950 per month; so demand and effective supply levels look broadly in line currently.  We anticipate there will be a ramp up in market activity over the first half of 2014 which is likely to be accompanied by an increase in new listing numbers as well.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/02/Brisbane.jpg" rel="wp-prettyPhoto[g2882]" style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; vertical-align: baseline; background-color: transparent; color: #bf0000; text-decoration: none;"><img class="aligncenter size-large wp-image-2884" alt="Brisbane" src="https://blog.rpdata.com/wp-content/uploads/2014/02/Brisbane-580x148.jpg" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="120" width="470"></a>
Agent activity has been on an upwards trend across Adelaide over the past twelve months, with the RLI currently at similar levels as what was recorded late last year.  Confidence in the local SA economy has been dented by the weakness in the manufacturing sector, however the housing market has been slowly improving despite the weaker economic conditions.  We have been tracking about 1,880 new listings being added to the local market each month compared with a sales rate of about 2,240 each month.  Transaction numbers are outweighing listing numbers, keeping effective supply levels tight.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/02/Adelaide.jpg" rel="wp-prettyPhoto[g2882]" style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; vertical-align: baseline; background-color: transparent; color: #bf0000; text-decoration: none;"><img class="aligncenter size-large wp-image-2883" alt="Adelaide" src="https://blog.rpdata.com/wp-content/uploads/2014/02/Adelaide-580x155.jpg" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="126" width="470"></a>
Perth has seen a rise in agent activity over the first month of the New Year, however current activity levels are slightly below record levels but higher than late 2013.  It’s likely that agent activity levels will settle back to around the same pace as what was recorded late last year; not quite as exuberant as what was recorded during early 2013, but still above the long term trend.  The average number of new listings has been tracking at about 4,000 per month while transaction numbers are showing a run rate of 3,690 per month which indicated a growing level of effective supply overall.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/02/Perth.jpg" rel="wp-prettyPhoto[g2882]" style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; vertical-align: baseline; background-color: transparent; color: #bf0000; text-decoration: none;"><img class="aligncenter size-large wp-image-2890" alt="Perth" src="https://blog.rpdata.com/wp-content/uploads/2014/02/Perth-580x150.jpg" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="122" width="470"></a>
Agent activity across Hobart has held relatively steady over the past year after a solid increase during the second half of 2012.  The local Hobart market was the only capital city where dwelling values posted a fall over the past twelve months and conditions overall remain sluggish.  We have been tracking about 410 new listings being added to the market each month and about 350 home sales which suggests plenty of choice for prospective buyers and not a great deal of urgency in their purchase decision.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/02/Hobart.jpg" rel="wp-prettyPhoto[g2882]" style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; vertical-align: baseline; background-color: transparent; color: #bf0000; text-decoration: none;"><img class="aligncenter size-large wp-image-2887" alt="Hobart" src="https://blog.rpdata.com/wp-content/uploads/2014/02/Hobart-580x154.jpg" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="125" width="470"></a>
The agent activity trend shows more volatility than other markets across Darwin, partly due to the small size of the market.  Activity levels are currently well below the highs recorded back in early 2013, but similar to what was recorded in October/November last year.  We are tracking about 250 new listings entering the Darwin market each month compared with a rate of sale at 289 per month, so effective supply looks relatively tight across this market.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/02/Darwin.jpg" rel="wp-prettyPhoto[g2882]" style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; vertical-align: baseline; background-color: transparent; color: #bf0000; text-decoration: none;"><img class="aligncenter size-large wp-image-2886" alt="Darwin" src="https://blog.rpdata.com/wp-content/uploads/2014/02/Darwin-580x153.jpg" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="124" width="470"></a>
The Canberra housing market has slowed substantially over 2013, however listings activity showed a consistent increase over the last four months of 2013.  The bounce back in agent activity hasn’t been as strong in 2014 which may indicate new effective supply levels are starting to ease.  Over the past six months we have seen an average of 580 new listings being added to the market compared with 610 sales per month on average suggesting that effective supply additions to the market are being absorbed sufficiently.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/02/Canberra.jpg" rel="wp-prettyPhoto[g2882]" style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; vertical-align: baseline; background-color: transparent; color: #bf0000; text-decoration: none;"><img class="aligncenter size-large wp-image-2885" alt="Canberra" src="https://blog.rpdata.com/wp-content/uploads/2014/02/Canberra-580x152.jpg" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" height="123" width="470"></a>
Tim Lawless is national research director of <a target="_blank" href="https://www.myrp.com.au/" rel="nofollow">RP Data.</a>
                                        
</body></html>

tlawless-5VLUrbAk9s

Real estate agent activity gathers pace

<html><body>
Myer has set up a new corporate entity as a mechanism for a possible network of free-standing stores, a Myer spokesperson confirmed to SmartCompany.
The new business, FSS Retail, which is understood to stand for Free Standing Stores, was recently set up by the department store giant, as reported by Fairfax.
Fairfax obtained documents showing the new entity was set up 12 days ago.
It is understood that this could see Myer acquire more retail businesses and operate stores outside of its department store network.
FSS Retail has three directors, Myer chief executive Bernie Brookes, Myer chief financial officer Mark Ashby and Myer head of strategic planning Greg Travers, <a target="_blank" href="https://www.smh.com.au/business/myer-move-to-extend-its-retail-options-with-fss-retail-20140302-33tyb#ixzz2ur1YFavy">Fairfax reports</a>.
A Myer spokesperson told SmartCompany that it was “created as a formal mechanism” in case the business wished to pursue free-standing stores, but no further details of potential acquisitions could be revealed at this stage.
Myer currently owns the fashion business Sass &amp; Bide, and operates the womenswear brand’s 25 retail stores in Australia and internationally.
The new entity comes amid reported further talks between Myer and David Jones regarding the merger proposal Myer put to its rival in November last year.
It also comes as Myer reappointed <a target="_blank" href="https://www.smartcompany.com.au/marketing/sales/35746-david-jones-and-myer-merger-talks-simmer-as-accc-keeps-close-eye"> Bernie Brookes for another year</a> as chief executive and managing director, and suggested he would be a good chief executive for a combined business with David Jones.
Retail Doctor Group director Brian Walker toldSmartCompany that a move by Myer to create a network of free-standing retail stores was smart.
He says the department store concept is maturing and the business needs to find new ways to best represent its shareholders.
“Its core business is as a mass-merchandise retailer… it is the house of many brands,” he says. “This is what Myer can do to continue to drive its shareholder’s returns.”
He thought it made sense for the business to develop an equity funding arm, and to have a stake in individual retail brands.
Walker says the move also reflects the impact of international retailers coming to Australia, which is shaking up ownership models as local businesses scale up to achieve profits.
“The way to achieve scale is to consolidate and to acquire,” he says.
“Myer can make more money from its existing operations… or make more acquisitions.”
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany</a>.
                      </body></html>

moliver-7qYWqnHmyR

Myer could be on acquisition strategy as it sets up new business for free-standing stores

<html><body>
It’s always advisable to carefully check the title of a property you are thinking of buying to avoid any last minute surprises that may interfere with the sale.

In Western Australia, Landgate is the state government department which has responsibility for keeping the records of who owns each piece of land. The document on which ownership is recorded is called the Certificate of Title.

The Certificate of Title will record the present owner, note if the property is currently mortgaged and what rights other people and the wider community may have on the property and which might affect the buyers use and enjoyment of the land.

Before entering into a contract for the sale of land or strata title it’s wise to have a good look at the Certificate of Title.

[smartcode_project:default project_id=31240]

The selling agent is required to conduct a search and should therefore be able to show you a copy.

Sometimes there are restrictions on the title that may affect its transfer when property is being sold. This might occur when another person or organisation has a financial claim or interest over the property in addition to the mortgage. Such a caveat effectively prevents the registration of any transfer of ownership until the caveat is formally withdrawn.

Restrictions on the land are called ‘covenants’ or ‘easements’ and can be placed to ensure that it is not used in certain ways or that buildings conform to certain requirements.

This is often done on land within a sub-division to try and ensure that the buildings are of a uniformly high standard.

Other covenants may prevent views from being blocked or natural light being impeded.

Generally, to remove a covenant an application must be made to the person who imposed it and this may be complicated. Anyone seeking to remove a covenant should therefore seek expert legal advice.

An easement is the legal term for a right, which someone other than the owner, has over the use of the land for a specific purpose.  For example, the neighbours may have a right-of-way to enable access to their property or the Water Corporation may have the power to obtain an easement to use part of the land for sewerage or water pipes.

Covenants and easements are reasonably common and in most cases will not affect the value or saleability of the property. However, before buying you should ask the selling agent if they exist, request copies and read and understand them before making a commitment to buy. You may also wish to seek further legal advice.

Generally, a bit of common sense should address your concerns and after taking the information into consideration you will be in a better position to make an informed decision on a purchase.

David Airey is president of the <a href="https://reiwa.com.au/home/default.aspx" rel="nofollow" target="_blank">Real Estate Institute of Western Australia.</a>

This article was originally published on <a href="https://reiwa.com.au/Faq/Pages/Feature.aspx" rel="nofollow" target="_blank">reiwa.com</a>
</body></html>

dairey-MVZf5ZguQC

Understanding covenants and easements

<html><body>
Properties being sold by auction should be advertised with the reserve price to stamp out misleading price guides.
With auctions becoming the sales method of choice, particularly in Sydney and Melbourne, the process must be improved to provide greater transparency for buyers.
Vendors who choose to sell via auction should be required to publish the auction reserve price seven days out from auction day to create a more transparent process.
Buyers can then pay the building and pest inspection costs and legal fees with confidence knowing that they have a real chance of owning the property rather than wasting money trying to buy a property that they could never afford if their budget is below the vendor’s reserve.
Despite it being a breach of the Act, many selling agents and vendors still under-quote the value of properties up for auction and something needs to change.
As expected, buyers accept the selling agent’s price guides on face value for properties listed for auction and why wouldn’t they?
Unfortunately though for the buyers, the vendor’s real expectations and subsequent reserve are often significantly above the price guide and often far more than they can afford.
For example an auction I attended for a client last Saturday had an advertised price guide of over $1.5 million up until the day of the auction.
The auction bidding stalled at $1.970 million, some 30% above the guide and the auctioneer then stopped the auction and asked the agent to seek the vendor’s instructions before eventually selling the property to that bidder.
I can assure you the mood at the auction turned to one of frustration and anger for many buyers holding bidding cards as surely the reserve should have been met that far above a price guide.
Unfortunately this happens every weekend leaving thousands of people unnecessarily out of pocket.
While the Queensland government’s proposed approach has some merit in removing bait advertising it doesn’t address the issue of buyers wasting time and money on inspections in situations where vendors set unrealistically high reserves.
Patrick Bright is the founder of Sydney-based buyer’s agency <a rel="nofollow" href="https://%20www.epspropertysearch.com.au/" target="_blank">EPS Property Search</a>.
                                          
</body></html>

Latest Investing Insights

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

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Investing Insights

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

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News