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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Barossa Vines and its directors have been fined more than $1 million for breaching promoter penalty provisions following an investigation by the Australian Taxation Office.
The Tax Office has issued a warning to managed investment scheme operators to implement the schemes as promised, or risk high penalties.
Barossa Vines had been running a managed investment scheme and failed to carry out its wine grape growing activities in accordance with its agreed product ruling.
The company was ordered to pay a penalty of $625,000 while its four directors were made to pay $125,000 for poorly managing the scheme.
The schemes took place during 2007 and 2008 and saw investors in the scheme to pay an upfront management fee of $4400 to establish and manage a vineyard on the land.
Hundreds of investors took part in the schemes with a total of more than $20 million invested across the two schemes.
ATO deputy commissioner Tim Dyce said in a statement product rulings are designed to give people certainty about the tax consequences of their investment.
“The scheme must be implemented as it was described,” he says.
“As we discovered, this was not the case and the promoters’ actions had unfortunate consequences for investors, whose deductions were disallowed.”
The ATO has the capacity to withdraw product rulings at any time and a ruling does not give an investment a tick of approval.
Thomson Reuters tax expert Terry Hayes told SmartCompany these types of schemes were popular a few years ago.
“A lot of the heat has gone out of these managed investment schemes now. The problem arises with the product rulings – if the scheme runs in accordance with what the ATO understand, then it’s fine, but if it deviates in any way then the product ruling is no longer valid,” he says.
“When there is a variation, this means the tax consequences change, impacting upon investors.”
Hayes says in this case a number of vineyards weren’t planted in the appropriate timeframe and some had been abandoned, going against its product ruling.
In an interview with The Australian Financial Review,Dyce said the ATO is reviewing a number of similar cases and considering litigation.
“We occasionally find people will hand over $100,000 or $200,000 to somebody based on a glossy brochure and a promise,” he’s quoted as saying.
Hayes says people opt to invest in these schemes on the promise of great returns or tax deductions.
“They can offer some fairly good returns and deductions and if the ATO approves the arrangement generally they’re fine. Some people plan for a loss to reduce their tax, but not everyone can afford to sustain a loss,” he says.
“This was a big fine, I’d say probably one of the biggest which has been levied, but it’s within the parameters of what the legislation allows.”
Hayes says people running these schemes should inform the ATO if circumstances changes.
“The people managing these schemes are often doing all they can to keep them afloat, but seasonal patterns can have a big impact on agricultural schemes.”
This article first ppeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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yredrup-o4Anfe78KF

Barossa Vines fined $1 million following ATO investigation

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With cans of paint, pesticides, oil spills and a big, heavy, automated door, your garage is one of the most dangerous areas in your home. Given that we use garages to store our most hazardous household items, it makes sense to take steps to protect our families and pets from some of the more risky parts of a suburban garage. With that in mind, garage door manufacturer Merlin has come up with eight top tips for a safer garage.
Never allow children to play with the garage door
The garage door and opener are not toys and can be dangerous if misused. Children should never be allowed to play with the garage door, its automatic opener system or remote control. Children should never play under or near the garage door and should keep fingers and hands away from the door and opener to prevent any crushing or pinching of fingers and hands.
Keep tools out of reach of children and toxic items locked away
 Garages are home to a number of sharp, heavy and hazardous tools, so to ensure children can’t get their hands on these items, keep them on high shelves or up on pegboards, out of their reach. Highly toxic items such as chemical cleaners, pesticides and garden chemicals should be tightly sealed and stored in a locked cupboard at all times.
Always clean up sawdust and oil spills after working in the garage
As many garages are also used as workshops, ensure that all sawdust, woodchips and oil spills are immediately cleaned up after the work is complete, as these are not only a slipping hazard, but are also combustibles that can fuel a fire.
Ensure your automatic garage door opener has a safety reverse function
Garage doors – whether automatic or manually operated – are heavy and large objects that can potentially cause serious injury or even death. To reduce the likelihood of injury, ensure your garage door is installed with an automatic garage door opener equipped with an automatic safety reverse. 
Protect your child from vehicles
When reversing out of your garage, always conduct a thorough check of your surroundings and regularly scan the area for small children and pets. Avoid leaving your keys inside your vehicle to prevent children from accidently starting the vehicle in a closed garage. Ensure motorcycles and bicycles are secure to prevent them from falling on children.
Store flammable items in the correct location
Many house fires start in the garage due to the presence of the flammable items generally stored there. Fire requires three things: fuel, oxygen and heat, so if you keep incendiary items away from heat sources such as water heaters, fridges and battery chargers, you are taking the first preventative step in avoiding a garage fire.
Keep a fire extinguisher close by
A fire extinguisher is an essential item to have in a garage and should be kept close to an entry point to the garage. A CLASS 10B:E extinguisher is the most suitable for garages and uses a nontoxic dry powder extinguisher to combat fires involving oil, flammable liquids and electrical equipment.
Install a heat detector inside the garage
Due to the nature of garages (often filled with smoke fumes from the car or from the workshop) smoke detectors often give false alarms and a heat detector is a more suitable option for the garage space. A heat detector will detect rapid rises in temperature and alert you of a fire in your garage.
Source: <a target="_blank" href="https://www.gomerlin.com.au/">Merlin</a> 
<a href="https://mce_host/jrichardson@propertyobserver.com.au">jrichardson@propertyobserver.com.au </a>
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jrichardson-uRX5hFdKfN

Top tips for a safer garage: Merlin

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Agent: Michael Wall<img src="/images/stories/2014/02/12/michael-wall-profile.jpg" alt="michael-wall-profile" width="125" height="150" style="float: right;">
Position: NSW head of industrial
Company: Jones Lang LaSalle
Office location: Sydney
How long have you been in the industry?
I’ve been in the industry for 13 years. I started working in property in New Zealand, before relocating to Sydney in 2004.
What’s happening in the area you specialise in?
With the security of income provided by long-term industrial leases and a low interest rate environment, industrial properties are currently highly sought after by all investor types, including privates, syndicators and institutional owners.
At present, the demand for these assets is exceeding supply, which has seen the sector witness good capital growth over the last 12 months.
On the leasing front, conditions remain tough however we have noted an increase in tenant activity following the federal election which we hope to see continue.
Describe the most interesting property you have sold/leased/developed.
The most interesting was the property I sold was at 38 Pine Road in Yennora – a 33,000 square metre warehouse facility.
This was both interesting and rewarding. This is because I’d bought the property off Jones Lang LaSalle for the vendor back in 2009 in my previous role as general manager of a private investment group.
What are the ingredients to being successful in your job?
I believe the key is: understanding your clients’ needs and being able to provide them with well-informed advice.
What aspects of your role do you enjoy the most?
Achieving results is always the most enjoyable, however the property industry is full of interesting characters which also makes the role enjoyable on a daily basis.
Where would you invest a spare $750,000?
Industrial property. 
 Which football team do you support?
All Blacks. No surprises there.
What’s your favourite app or techno gadget?
iPad
How do you use social media?
I used <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/michael-wall/7b/48/56" target="_blank">LinkedIn</a>.
This profile was originally published in February 2014.
 
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In profile: Jones Lang LaSalle's head of industrial, NSW, Michael Wall

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For the first time in 20 years, the historic Block Arcade on Collins Street in Melbourne’s CBD is being listed for sale.
The arcade was constructed in 1892 after a fire destroyed the site’s original building. Designed to replicate Milan’s Galleria Vittoria, the L-shaped arcade features mosaic-tile flooring, glass skylights, wrought iron features and a large dome. It has an entrance to Collins Street and another to Elizabeth Street, with a third entrance on Block Place.
Selling through Colliers International and Allard Shelton, the Block Arcade houses a number of boutique retailers (including the Hopetoun Tea Rooms, which has remained a tenant since the arcade’s opening in 1892) on the ground floor, with commercial tenants on the upper levels. There are currently 27 tenants in the arcade. Anchor tenants currently include Telstra, Haigh’s Chocolates and Crabtree &amp; Evelyn. The property has a net lettable area of 8,124 square metres.
Colliers International managing director of capital markets and investment services John Marasco expects interest from local and international buyers from Asia, Europe and the US.
“The Block Arcade is a blue chip Melbourne CBD investment,” Marasco said. “It also offers a number of exciting value-add opportunities including repositioning the asset to attract luxury retail brands to the precinct.”
Patrick Barnes, director of Allard Shelton, has managed the property for 20 years. He noted the historic significance of the Block Arcade, which is part of Melbourne’s “Golden Mile” heritage walk.
“The Block Arcade has an unprecedented 120-year successful retail trading history and there is a waiting list of tenants trying to secure space in the centre. It is much-loved by Melbournians and has a loyal following of local shoppers,” said Barnes.
“It is also a popular tourist destination for interstate and international tourists, attracting more than 3.5 million visitors during 2013.”
The Block Arcade is expected to achieve a sales price of about $100 million. Offers of interest are being accepted until 4pm on April 3.
<a href="mailto:jrichardson@propertyobserver.com.au" target="_blank">jrichardson@propertyobserver.com.au</a>
 
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Melbourne's Block Arcade on the market with $100 million price expectations

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Over 50% of the industries that advertise jobs on SEEK in 2013 offered job seekers a higher wage than in 2012, the employment site reports.
In New South Wales, 63% of employers offered job seekers higher salaries than in 2012 and in Victoria 60% offered higher salaries. In Western Australia, 58% offered <a target="_blank" href="https://www.smartcompany.com.au/people/34654-abc-staff-wages-revealed-what-to-do-if-your-team-learn-what-everyone-earns">higher salaries</a>, in Queensland it was 53% and in South Australia 52%.
The report found 40.7% of all industries listed on SEEK offered salary increases above the wage price index of 2.6%.
However, it found the average salary offered on the site was $81,055, slightly down from the 2012 average of $84,458.
SEEK human resources manager Rebecca Supierz said this national decrease in salary reflects a drop in salaries for candidates in high paying sectors, such as mining and construction which have softened in demand.
“Construction and engineering job seekers would have been disappointed to find salary decreases of up to 21% for some roles,” she said.
“However, these roles are coming off a high salary base and when we look nationally, the best paying jobs were still found in the mining resources and engineering sectors.”
The top role for salary growth in 2013 was for local government, up 20% from an average of $57,672 to $69,381.
The highest paying roles on average were for oil and gas geoscientists at $158,671, mining managers at $145,401, mining geoscientists at $139,616, oil and gas drillers at $138,951 and mining engineers at $137,800.
The five lowest paying roles were packers at $42,423, beauty therapists at $42,605, receptionists at $42,611, retail assistants at $44,519 and bakers at $45,162.
The report found wages in the insurance and superannuation sector, and sports and recreation sector were the highest for salary growth last year, up 6% nationally.
In sectors where there were fewer candidates, including healthcare and medicine, the salaries for experienced candidates were up 5%.
In retail, consumer products, community services and development, wages went up by 4%.
Only 9% of industries across Australia experienced no change in salaries, this included IT, financial services and property industries.
The report also found that wages for young people aged 18 to 24 years old were not meeting candidate expectations. 46% of employers think that young people want too much money due to their high standard of living expectations.
“With employers and younger employees divided on the salary debate it is clear the financial and generational chasm in the workplace is widening,” Supierz said.
SEEK spokesperson Sarah Macartney said that this could reflect that many young people who begin full-time work were leaving home for the first time, and realising that their wage did not stretch as far as they anticipated to cover rent and bills.
This article first appeared on <a target="_blank" href="https://www.SmartCompany.com.au">SmartCompany.</a>
 
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Average wage down, but big money still in mining: SEEK salary review 2013

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RP Data reported that housing momentum continues in 2014, with capital city dwelling prices increasing by 1.2% in January, the figure driven almost exclusively by gains in Melbourne (+3.2%, recovering from 'losses' in recent months), Sydney (+0.8%) and Brisbane (+0.7%).
But the interesting news will be to see how the media chooses to report the rebounding of first home buyers into the market.
There has been an awful lot of commentary about first home buyer numbers falling, with them never to return due to affordability issues and having alternative priorities.
However, soon to be released figures from the Australian Finance Group (AFG) will show first timers surging back into the market.
AFG processed more than $2.5 billion of home loans in January, a large jump of 14% on the prior year.
The percentage of first home buyers jumped from 8.7% to 11.2% in Victoria, while the figure jumped from 21.8% to 24.2% in Western Australia.
First home buyer numbers remain solid in South Australia at 15.5%, while the numbers are clearly lower in the states with no first home buyer grants.
No doubt the resident crash community will instead choose to focus on the nonsensical 3.4% reading for first home buyers in New South Wales; even though it's as clear as daylight that due to the lack of first home owner grant the actual numbers of first timers are not being correctly recorded.
And I say that as someone who is out there in the Sydney housing market every day.
In any case, increasing numbers of first time buyers are choosing to rent where they live and instead buy an investment or rental property as their first step on to the housing ladder. As such, are recorded as 'investors' rather than first time purchasers.
Given the high level of transaction costs in buying and selling property, this can certainly make plenty of sense, especially given that younger generations tend to change jobs (and even careers) far more regularly than was ever the case in decades gone by.
Instead of trading up several times, younger generations may instead elect to get a foothold on the ladder via an investment property, giving themselves to the freedom to rent in different suburbs or take time to travel or work overseas.
Meanwhile the share of fixed rate loans fell to 23.9%, the lowest level in a year, as borrowers anticipate that the interest rate cycle may at last have reached its nadir.
AFG will report that the share of loans for investment purposes in New South Wales has reached the highest level on record at 53.4%.
Demand for property in Sydney in particular is running extremely hot, which will be reflected in more strong capital gains in 2014.
Pete Wargent is the co-founder of <a rel="nofollow" target="_blank" href="https://allenwargent.com/">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a rel="nofollow" target="_blank" href="https://petewargent.blogspot.com/">blogger</a>.
His new book '<a rel="nofollow" target="_blank" href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx">Four Green Houses and a Red Hotel</a>' is out now.
 
 
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First time buyers rebound into market with home loan surge

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Commercial property stands to benefit from the recent improved business trading figures — which have soared to a two-year high. These now fall into line with the NAB Survey's confidence levels.
As such, many forecasters believe these latest figures (together with the growth in house prices over the past 12 months) now reflect the underlying strength of Australia's post-mining economy.
Therefore, further interest rate reductions expected by the RBA are unlikely to occur any time soon — if at all.
The China factor
As you would be aware, China has just confirmed its annual growth figure at 7.5% for the December quarter.
While this may be down from the heady 10% plus during our mining boom, it clearly reflects a far more realistic and sustainable level of annual growth.
All this means is that the mining sector will now be operating in a more traditional supply phase — instead of the previous boom-time development phase.
You'll recall <a href="https://www.propertyobserver.com.au/commercial/don-t-be-put-off-by-negative-press-when-considering-commercial-property-prospects-chris-lang/2013043060890" target="_blank">an article last year</a> outlining China's potential demand for our iron ore over at least the next 20 years or so — where the underlying facts and logic remain rather persuasive.
If China continues along this path, it can only help in re-balancing the Australian economy.
Overseas demand for commercial property
Over the past five years, overseas buyers (mainly Asian) have accounted for more than half of the direct purchases in commercial property.
And yet over the past 12 months, savvy local investors have also re-entered the market in competition — and now account for 70% of direct commercial property purchases.
However, with our dollar falling below parity with the US the level of interest from overseas buyers will only escalate.
Even though many of these purchases may be at the higher end of the market, this effectively forces investors to seek out suitable property in a lower price bracket.
Bottom line
As the competition increases these higher prices will begin filtering down through the entire market, causing yields to firm. And that will inevitably result in solid growth for investors, over the next three to five years.
Chris Lang is an advisor to commercial property investors, sell-out author and regular speaker on how to invest in commercial property. 
You can visit his website <a rel="nofollow" href="https://property-edge.com.au/" target="_blank">Property Edge Australia</a> to help you get the most out of your commercial property investing.
 
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Increasing overseas interest and surge in confidence are good signs for local investors

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With agencies fiercely competing on their marketing expertise, it is remarkable that the majority of real estate advertising remains so poorly written.
While a growing number of agencies are now hiring professional writers, mostly the task is still left to agents who have never been properly trained to write an ad. Despite having the gift of the gab, their way with words is often challenged when it comes to creating effective advertising.
Endless entertainment can always be had by flicking through the real estate section and picking out the most calamitous advertising disasters. For agents who’d prefer their ads stand out for the right reasons, there are some very basic measures they can take.
1. Keep it real
Most home buyers have at one point had to stand on tippy-toes to spot a “fabulous water view” or visited a “spacious apartment” only to discover cat-swinging would be extremely hazardous. This tendency towards exaggeration is perhaps why real estate agents are ranked near used car salesmen on the scale of least trusted professions.
While it makes sense to point out the best features of the property, there is little value in fudging the truth. As soon as prospective buyers walk through the door they will discover that “charming cottage” is actually a dilapidated wreck, leaving the agent with all the credibility of Milli Vanilli.
Advice to agents: Don’t lead buyers on with an amazing description only to disappoint them at the open house. When buyers can trust your ads they are far more likely to trust you.
 
2. Refrain from writing over the top flowery nonsense
Language is much like make-up – lay it on too thick and you end up looking like a clown. So extravagant is the language used in many real estate ads that the agents may as well rock up to the open house on a unicycle while wearing oversized shoes, baggy pants and a red nose.
Example: Elegantly dress circle positioned on a big block, this sun-splashed hideaway has been restored/renovated for poolside entertaining. With significant frontage yet incredible privacy amidst low maintenance gardens, this remarkable home combines grand classic traditions with modern essentials &amp; large proportions.
When flicking through countless advertisements home buyers want information, not confusing waffle regarding how some “sun-splashed hideaway” is “elegantly dress circle positioned”. It really does pay to keep it simple.
Advice to agents: If you feel the urge to write something flowery it may be time to compose a love note to your spouse. Most home hunters would much prefer you show a little restraint.
3. Stop composing ridiculously long and confusing sentences
The way many agents attempt desperately to cram everything into a single sentence, you might wonder whether someone was charging them for full stops. The results are often so bewildering that even lawyers who are expertly trained in gobbledygook have little chance of deciphering them.
Example: Serenely and privately tucked away in one of Randwick's most exclusive pockets and awash with natural northern light, this exceptional semi on a large 304sqm of land ensures a lifestyle of character, space and quality over one well proportioned level. 
While this attempt to convey nine selling points in a single sentence may be considered valiant, it is still more than a tad confusing. Were the same selling points broken down into two sentences the ad would become infinitely more coherent and easy to read.
Advice to agents: There is a sure method to work out whether your sentences are running too long. Simply read your draft out loud. If you can’t comfortably get through the whole sentence in a single breath it’s time you threw in a full stop.
Article continues on next page. Please click below.
 
<hr class="system-pagebreak">
4. Avoid awful headlines
All agents know the importance of creating the right first impression. That’s why they drive flash European cars and wear expensive suits. Inexplicably many still choose awful headlines for their ads.
One of the most common traps agents fall into is an overenthusiastic use of exclamation marks.
QUALITY! SIZE! LOCATION! INVESTORS TAKE NOTE!!!!!!!!!!!!
 
Others opt for headlines which are convoluted and nonsensical.
BRAND NEW TIMBER FLOOR AND FRESH PAINTED Large size 2 bra
Some are just plain boring.
A home to suit your needs
 
There are also agents who believe it best to cram every single feature of the property into a ridiculously long headline.
"The Odeon" Due-North Penthouse Lifestyle, State-of-the-Art Finishes, World-class View, Double Terrace, Double Parking
 
Rather than aggravating their audience from the start, agents should try their best to craft a headline that is short, sharp and focused on the property’s key selling points.
Advice to agents: Avoid long-winded, boring or clichéd headlines and try with all your might to avoid using more than a dozen exclamation marks.
5. Get the basics right
There are few better ways someone can demonstrate their incompetence to the world than to publishing an ad riddled with mistakes. As well as irritating the audience, this is sure to anger the vendor who has just laid out thousands of dollars for their campaign. At the very least vendors should be able to expect a lack of spelling errors and something resembling correct grammar.
Example: lUXURY LOCATION &amp; A SUPER LUXURY PROPERTY 
This beautiful and super luxury 3 stories house located in the sough-after street of Castle Cove, which is closed to anywhere and takes minutes drive to city CBD. Its features offer you more than what you can imagine and request. 
Clearly this agent has a tenuous grasp of the English language and could benefit from calling in a professional. For others a simple spelling and grammar check could work wonders.
Advice to agents: Don’t ignore all those red and green squiggly lines on your computer screen and make sure someone else reads over your ad before it is put out there for the entire world to see.
Jamie Watson is one of Sydney’s most experienced real estate writers. His newly launched <a target="_parent" href="https://www.meteorwrite.com.au/index.php">REwrite workshop</a> teaches agency staff how to write better real estate ads.
You can contact Jamie via <a target="_blank" href="mailto:jamie@meteorwrite.com.au">email</a>. 
 
 
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Think you're a property advertising wordsmith? Five common real estate ad failures

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A four bedroom house on prestigious Coolong Road in Vaucluse was the week's most expensive sale, according to RP Data.
The sale at $6,550,000 was comfortably the highest fee brought in over the week, topping a five bedroom house in Kyle Bay and a a four bedroom house in Gordon by a margin of just under $4 million.
This week saw the <a target="_blank" href="https://www.propertyobserver.com.au/australian-capital-territory/auction-season-kicks-off-melbourne-and-sydney-still-strong-but-brisbanes-got-buzz/2014020367496?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">2014 property market season kick-off</a> after Melbourne and Sydney reached record-breaking heights in spring last year.
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/apm-s-sydney-76-auction-results-show-a-803-clearance-rate/2014020267479?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">Sydney recorded a clearance rate of 80.3%</a>, while <a target="_blank" href="https://www.propertyobserver.com.au/victoria/apm-s-melbourne-auction-results-for-february-1-weekend/2014020267478?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">73.6% of houses in Melbourne sold</a>, according to Australian Property Monitors.
The house at <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-vaucluse-nsw-2030/194332">6 Coolong Road, Vaucluse</a> (pictured below) was marketed as the perfect modern family home, in reference to its close proximity to public and private schools as well as nearby Vaucluse Village.
{yoogallery src=[images/stories/2014/02/03/vau]}
Inspired by Toorak architecture and set on a 835 square metre block the property features expansive terraces, a gourmet kitchen and a gas heated swimming pool.
The listing was handled by Hamish Robertson of McGrath Estate Agents.
The top five sales of the week according to RP Data
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/6_coolong_road_vaucluse_nsw_2030/7138499">6 Coolong Road, Vaucluse, NSW, 2030,</a> four-bedroom house, sold on January 29 by McGrath Estate Agents for $6.55 million
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/139_kyle_parade_kyle_bay_nsw_2221/3507027">139 Kyle Parade, Kyle Bay, NSW, 2221,</a> five-bedroom house, sold on January 29 by McGrath Estate Agents for $2.71 million  (pictured below)
{yoogallery src=[images/stories/2014/02/03/kyle]}
 
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/37a_cecil_street_gordon_nsw_2072/2522689">37a Cecil Street, Gordon, NSW, 2072,</a> four-bedroom house, sold at auction on February 1 by Century 21 Cordeau Marshall for $2.6 million  (pictured below)
{yoogallery src=[images/stories/2014/02/03/gor]}
 
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/32_knightsbridge_parade_west_paradise_point_qld_4216/6753069">32 Knightsbridge Parade West, Paradise Point, QLD, 4216,</a> five-bedroom house, sold at auction on January 28 by Ray White Sovereign Islands for $2.535 million (pictured below)
{yoogallery src=[images/stories/2014/02/03/par]}
 
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/4_wren_court_portsea_vic_3944/12601985">4 Wren Court, Portsea, VIC, 3944,</a> five-bedroom house, sold at auction on February 1 by Melbourne Sotheby’s International Realty for $2.275 million  (pictured below)
{yoogallery src=[images/stories/2014/02/03/por]}
<a target="_blank" href="https://mce_host/news%20@propertyobserver.com.au">news @propertyobserver.com.au</a>
 
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Vaucluse mansion sells for $6,550,000 the week's most expensive sale: RP Data

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Depending on who you are talking with about the global economies commentary is either optimistic or pessimistic – this appears to be the new world order. Personally I’m on the optimistic side although I’m well aware that consumer sentiment can change in a heartbeat. The Commonwealth Bank future business index, which gauges the sentiment of midsize businesses with a turnover of $10 million to $100 million found that <a target="_blank" href="https://www.businessspectator.com.au/news/2014/1/23/australian-news/business-bullish-2014-survey" title="Bussiness bullish on 2014: Survey">business is bullish on 2014.</a> The index was 17 points in the December quarter, its highest level since the survey began in September 2011 and up from 10.8 points in the previous three months.
I don’t really care these days what weapon of choice one uses to determine what’s happening in global economies so long as we keep seeing positive consumer sentiment. <a target="_blank" href="https://www.whocrashedtheeconomy.com.au/blog/2014/01/2014-the-year-the-world-is-taken-off-life-support/" title="2014: The year that the world is taken off life support">The year that the world is taken off life support</a> is yet another interesting analogy and very hard to argue against. Despite the rejoicing the Australian economy has been dragging its feet for well over four years now so it was only a matter of time before the mode went much more up-tempo.
Gong Xi Fa Cai – The Year of the Horse is connected to travel and speedy success. It’s a good year for action, enterprise and achievement – as the horse has plenty of energy and charm. So it will be most interesting to see how dominant the Chinese buyers are in 2014.<a target="_blank" href="https://www.smh.com.au/business/property/chinese-buyers-fuelling-sydney-property-hotspot-demand-20140129-31m1b" title="Chinese buyers fuelling Sydney property hotspot demand">Chinese buyers are fueling Sydney property hotspot demand</a> and Australian banks’ lending to Chinese borrowers has soared by 75% in a year, as the industry rushes to lift its exposure to Asia’s powerhouse economy. The value of loans to Chinese borrowers on the books of Australian banks swelled by US$12.3 billion to US$28.7 billion during the year to September, figures from the Bank for International Settlements show.
More than 20,500 people from China, Hong Kong and Taiwan settled in Australia in the year to June 30, according to immigration department figures. Another 219,000 came to Australia as temporary immigrants and students, the data show.
<img style="margin: 0px auto; padding: 0px; outline-width: 0px; font-weight: inherit; font-style: inherit; font-family: inherit; display: block; max-width: 100%;" height="271" width="470" src="https://www.rwm.com.au/files/2014/01/30-01-2014-10-30-10-AM.jpg" alt="30-01-2014 10-30-10 AM" class="aligncenter size-full wp-image-8402">
<img style="margin: 0px auto; padding: 0px; outline-width: 0px; font-weight: inherit; font-style: inherit; font-family: inherit; display: block; max-width: 100%;" height="277" width="470" src="https://www.rwm.com.au/files/2014/01/30-01-2014-10-31-26-AM.jpg" alt="30-01-2014 10-31-26 AM" class="aligncenter size-full wp-image-8404">
Source: Australian Property Monitors
The APM  House Price Report for the December Quarter 2013 highlights Sydney as the absolute star performer in the house and apartment sectors. The March quarter 2014 will confirm that the Sydney property market is taking off – although we need to look closely at what is happening in Mosman. <a target="_blank" href="/news">Last year I wrote</a> that “in 2012 out of 52 weeks there were on 33 occasions more than 100 houses on the market. In 2013, Mosman only broke the 100 mark on just four occasions which explained why we had fewer houses on the market."
We work on the philosophy that only 5% of house owners are totally satisfied with the home they currently reside in and s79% “acknowledge” that they would be happy to move to a better home however it’s not a major concern or priority. The lesser the number of homes on the market resonates back through their consumer sentiment. It has become instinctively clear that this housing desire was lost in the global financial crisis (GFC) as households re-calibrated their lifestyles and requirements.
Again this is seen with the number of houses on the market this week which was quite disappointing – from last week’s 47 this week it moved to 68. This time last year the number was 79 and the year before that it was a staggering 129.
All the signs are there for an action packed 2014 property market (well in Sydney anyway).
Naturally, there will also be many conversations about that mysterious property bubble too. As we have said on countless occasions ‘yes – there will be areas that crash and burn, that’s the nature of the industry’.
Although this time around there are many more buyers than sellers which is a pretty good clue – better known as a vendors market.
Robert Simeon is a director of <a rel="nofollow" target="_blank" href="https://www.rwm.com.au/" title="RWM" style="font-size: 14px;">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a rel="nofollow" target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. 
The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
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