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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The problem (as I see it) with commentaries about the Australian property markets is the diverse opinions about which way it’s headed. I see the main hurdle being interest rates, not a booming market, given the former is actually the handbrake on property prices. 
<a title="Prepare for interest rates rising sooner than expected" href="https://www.propertyobserver.com.au/finance/prepare-for-interest-rates-rising-sooner-than-expected-findercomau/2013101665753" target="_blank">Prepare for interest rates rising sooner than expected</a> after America raised their debt ceiling, it could impact funding costs in the Australian home loan market. It was pointed out that should average variable interest rates return to normal levels of 7% borrowers would be slugged an extra $755 million of extra repayments collectively. The Reserve Bank of Australia advises that almost a quarter of lenders’ monies are sourced from offshore so it’s inevitable that these increased costs are passed on to the borrowers.
<a title="Nobel Prize winner Robert Shiller warns of ‘bubbly’ global home prices" href="https://www.smh.com.au/business/world-business/nobel-prize-winner-robert-shiller-warns-of-bubbly-global-home-prices-20131015-2vjh1" target="_blank">Nobel Prize winner Robert Shiller warns of ‘bubbly’ global home prices</a> “This financial crisis that we’ve been going through the last five years has been one that seems to reveal the failure to understand price movements.” Well that’s true in a sense although the accelerator that caused the most damage in the GFC was the shoddy home loans where the lenders in America have absolutely no re- course should a borrower default. Unlike in Australia where, should you default, the lenders immediately commence legal action to recover the outstanding debt.
If you take a moment to look at the Australian Bureau of Statistics (ABS) you will see over the past 10 years Australian house prices have risen by a staggering 64%. Savings also grew by 61% and the Australian share market delivered gains in the order of 60%. Based on that data one should hardly be concerned about the current machinations of the Australian property market.
The minutes from the RBA October meeting were released this week where it was again revealed that they have not ruled out further cuts – although I see this as being highly unlikely. Although the elephant in the room, Australia’s economy has suffered a <a href="https://www.smh.com.au/business/the-economy/economic-growth-loses-momentum-20131016-2vlw3" target="_blank">significant loss of momentum</a> since the start of the year as its transition away from mining investment – led growth gets bumpy.
The Westpac/Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, was 3.2% in August, down from 4% in July but marginally above its long term trend of 2.9%.
<img alt="15-10-2013 9-23-37 AM" src="https://www.rwm.com.au/files/2013/10/15-10-2013-9-23-37-AM.jpg" width="470" height="400">
<a title="First home buyer lending drops to lowest point since 2004" href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2013-10-14/home-loans-to-occupiers-drop-in-august/5020168" target="_blank">First home buyer lending drops to lowest point since 2004</a> – well we also have the lowest cash rate ever and lenders are telling the first home buyers to do the calculations for their repayments at 7.00% which explains why they have opted out of the market. You see despite all the ongoing conspiracy theories there is a simple explanation for everything. To further add to the confusion <a title="Sydney home prices forecast to rise by 19 per cent" href="https://www.smh.com.au/business/the-economy/sydney-home-prices-forecast-to-rise-by-19-per-cent-20131015-2vk2l" target="_blank">Sydney home prices forecast to rise by 19%</a> – well this is nothing more than a guesstimate which would have been based on the cash rate remaining at or about its current level. It is also a projection over three years so that would be 6% per annum.
This <a href="https://www.rwm.com.au/news/" target="_blank">week’s sales</a> were mild to say the least although we are seeing a very interesting trend – two years ago Mosman had 147 houses on the market and last year 116 and this week it’s 88. The simple truth is that following the GFC households have toned down their exuberance to play the property markets. In apartments two years ago there were 100 on the market, this time last year 104 and this week 50. The reason why is that we have more investors in the market and they are holding. There are 4,900 houses in Mosman and before the GFC the market would trade at approximately 10% per annum – today this figure sits between 5 and 7%.
<a title="Aussie’s the world’s richest people" href="https://www.smh.com.au/business/the-economy/aussies-the-worlds-richest-people-credit-suisse-20131009-2v7qy" target="_blank">Aussie’s the world’s richest people</a> and <a title="Australian super ranked third in the world " href="https://www.smh.com.au/business/australian-super-ranked-third-in-world-20131007-2v49x" target="_blank">Australian super ranked third in the world, </a>so given all the doom and gloom we have some light at the end of the tunnel.
For mine the biggest announcement of the week <a title="Hockey flags tax reform agenda" href="https://www.businessspectator.com.au/news/2013/10/16/politics/hockey-flags-tax-reform-agenda" target="_blank">Hockey flags tax reform agenda</a> which is exactly what the Labor government should have done with the carbon tax. The previous government sat on the Henry Report into Australia’s taxation system and in turn ignored all the recommendations. At the next election in 2016 voters will have their say – where I would not be surprised if negative gearing cops an enormous hit.

<hr>
Robert Simeon is a director of <a style="font-size: 14px;" title="RWM" href="https://www.rwm.com.au/" target="_blank" rel="nofollow">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 title="Virtual Realty News" href="https://www.rwm.com.au/news/" target="_blank" rel="nofollow">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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robertsimeon-hRNTwJyXkQ

No reason to be alarmed by the state of property market: Robert Simeon

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Western Australia has once again outdone the other states and territories in terms of economic strength, but it may be one of its last stints on top as the mining boom comes to an end.
WA is leading the way in terms of retail trade and is the second strongest economy when it comes to growth and business investment, according to CommSec’s State of the States report.
But CommSec chief economist Craig James said WA may not be leading the states and territories for much longer.
“I don’t think any state or territory stays at the top forever, it’s just like no sports team does either,” he says.
“There is a maturation of the growth and there are different growth drivers. Mining investment has lessened and that’s taken some momentum away,” he says.
In April last year <a target="_blank" href="https://www.smartcompany.com.au/finance/25475-western-australia-first--daylight-second-in-latest--state-of-the-states--report">WA was leading the way in five out of the eight categories</a> examined by CommSec – economic growth, construction work, unemployment, retail trade and equipment investment. It also came second in the population growth category.
Now, it leads just one category, although it ranked second on another five of the indicators.
“The actual strength in Western Australia is not the mining sector, but retail spending as we’re seeing a pickup in terms of the housing sector, and that’s being replicated through in terms of job growth and also retail sales,” James said when presenting the results.
In terms of the other states and territories, the Australian Capital Territory came in second for the second quarter in a row and there is now little separation between the Northern Territory, Queensland, New South Wales and Victoria, which ranked in that order.
South Australia and Tasmania are trailing significantly.
ACT
The second best performer in the economy, the ACT’s strength is in the housing sector, dwelling starts, population growth and housing finance.
It is also ranked the third strongest on business investment and fourth in terms of economic growth.
In terms of employment, the ACT’s unemployment rate of 4.1% is lower than the other states and territories. However, it’s significantly up on its decade average of 3.4%.
Northern Territory
The Northern Territory has come in third on the rankings, but it has lost ground in dwelling starts, population growth and business investment.
It continues to lead the states and territories in the economic growth category, with its economic activity 42% above its decade-average.
Queensland
Queensland is “the big mover” this quarter, according to James.
Queensland and NSW are now in equal fourth, as the sunshine state’s main growth driver has come from improvements in business investment.
Despite this, it is still lagging in terms of housing pickup.
“Queensland has momentum on its side, but it’s still lacking in terms of population growth. Dwelling starts are also picking up and business investment is strong, so this provides momentum to the economy,” James said.
NSW
The key strength of the NSW economy is its jobs market, while it lags in terms of economic growth.
NSW’s trend unemployment rate is higher than a lot of the nation at 5.5%. However, this is significantly lower than its decade average of 9%.
Victoria
Victoria is not far behind NSW and Queensland, and is currently being supported by the housing sector recovery.
It’s also performing well in terms of its jobs market, but the construction sector is negatively impacting the economy, with Victoria ranking seventh of eighth.
South Australia
A big gap exists between South Australia and Victoria, with its best performance a middle-ranking in the construction category. It ranked second last in most of the categories.
Tasmania
Tasmania was by far the worst performing state. While most states had a clear weakness, Tasmania’s was listed on the report as “various”.
Placing last on all eight economic indicators, stagnant population growth has reduced activity in the housing sector, as well as commercial and engineering construction and business investment.

<hr>
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
 
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yredrup-o4Anfe78KF

WA continues to lead, but the rest of Australia is catching up: State of the States report

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This tweet about a case in Ohio may shock.
<blockquote class="twitter-tweet">
The landlord may be liable when a tenant's Facebook harassment leads to a rape <a target="_blank" href="https://t.co/AWw9KASR0O">https://t.co/AWw9KASR0O</a>
— Forbes Tech News (@ForbesTech) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/ForbesTech/statuses/391541703070720000">October 19, 2013</a>
</blockquote>
 
It details the situation of two people living within the same apartment complex. Haynes, a live-in boyfriend (not on the lease) of tenant Schmidt, began threatening downstairs tenant Lindsay who had been complaining about the noise.
The Forbes article explains that Lindsay received a pseudonymous Facebook message that included a pornographic video, which she believed was sent by Haynes.
She took it to her landlord, asking to be released from the lease as she feared for her safety. The landlord moved her to another apartment within the complex, and told Haynes he needed to leave as he wasn't on the lease. Haynes tried to be added to the lease, but due to bad credit history he was not able to. He was not evicted.
He then raped Lindsay in her new apartment.
A shocking story, but what may shock landlords is what occured next. Haynes was convicted of the crime, and given nine years in prison. Lindsay then took the landlord to court.
“While Haynes’ Facebook communication alone did not rise to the level of criminal activity, it nonetheless made Towne Properties management even more aware of why Lindsay feared Haynes, and aware of Haynes’ escalating behavior toward Lindsay," the Court responded.
The landlord is now due in court with a jury.
Property Observer is looking into what may occur in a similar situation in Australia.
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jduke-EHk3XBmHkn

Landlord faces jury due to tenant's harassment leading to rape

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Last week, we launched our new series - discussing how to find that first, critical, investment. When we polled the Property Observer readers, the number one topic that stood out for investigation  was how to assess capital growth potential in a property.  
Each day this week, we'll be drilling down further into this particular topic, before we move onto another.  
The basics  
Property experts will disagree on a number of things: new, established, unit, house, blue chip, gentrifying and a range of other factors. One thing rarely disagreed upon, however, is this: the importance of keeping an eye on supply and demand.  
Observer Pete Wargent wrote about some of the <a target="_blank" href="https://www.propertyobserver.com.au/residential/property-prices-determined-by-supply-and-demand-balance-pete-wargent/2012121957849">supply/demand fundamentals</a> to consider at the end of last year that are still as relevant as ever.
When it comes to assessing the capital growth potential of a property, the best thing any property investor can do is bring it back to this unexpectedly complicated balance.  
Let’s unpack this a little bit.  
Supply – The number of properties available in an area.  
Demand – The number of people wanting (and able) to purchase these properties.  
Bryce Holdaway recently revealed his <a target="_blank" href="https://www.propertyobserver.com.au/news/behind-the-scenes-with-bryce-holdaway/2013091064935">crucial aspects of choosing that first investment property</a> and supply/demand was clearly crucial. 
Say, for instance, I have one strawberry lollipop. Say there’s one person craving this particular type of strawberry lollipop. There may be cola lollipops, pineapple cream and others, but they want this one.  
They’re happy to pay my $1.20, when the other lollipops are going for $1. If, however, there are three people craving this particular lollipop, they might offer against each other, driving the price to $1.50. Looking at it the other way, if four people also have strawberry lollipops they're trying to sell and there are still only three people craving the flavour, it's likely the price may drop.  
This is where concepts of scarcity come into play. This was one of the factors that observer Monique Sasson Wakelin recently revealed was one of her more <a target="_blank" href="https://www.propertyobserver.com.au/news/properties-that-will-double-in-value-in-seven-to-10-years-monique-sasson-wakelin/2013091265003">important points when choosing an investment property</a>.
Investing is, largely, all about the numbers – a habit our readers think is one of the most crucial for every property investor according to a recent article we posted – so let’s see how the numbers look.  
For instance, taking an area familiar with many Sydneysiders, The Hills District. A reader recently wrote in about Kellyville, and previous conversations with real estate agents have definitely confirmed that interest is at high levels across the LGA.  
In fact, a family who put their Beaumont Hills property on the market on Friday confirmed with Property Observer that a potential cash buyer was already lined up to view the property by Saturday.  
But how is this reflected in the statistics?  
Checking online’s SQM Research, it shows that currently the level of stock on market for postcode 2155 is <a target="_blank" href="https://www.sqmresearch.com.au/graph_stock_on_market.php?sfx=&amp;postcode=2155&amp;t=1">trending down</a>, since February.
This does appear to correlate quite nicely to a median price uptick in the area over this time, as shown on our data page of <a target="_blank" href="/news">Beaumont Hills </a>(within the 2155 postcode).
The average days on market, also in the above link, can be indicative. With 59.4 days listed, under the Sydney number listed of 110.2, investors researching an area would be wise to watch this number change over time.  
An ideal situation for many investors, is an area where you can buy in when the market isn't as hot, or as tight, in terms of supply and demand statistics. However, you'd want to know that these numbers are going to look more favourable through time to help increase your capital gains.  
Other supply/demand indicators are available online. Boomapp, developed by the team who created DSR Score (Demand Supply Ratio Score), uses eight statistics to create a number ranking of how the area performs.  
This includes vendor discounting, online search interest, auction clearance rates and a number of other facets. Clearly, there are a number of ways to approach calculating the supply and demand of an area.  
On top of the numbers, you'll want to be questioning the area for its future potential. Sometimes, this information doesn't come up in a straightforward number and requires some forethought and analysis on behalf of the individual investor.  
Over the page are a number of questions you need to be asking yourself about supply and demand.
 
<hr class="system-pagebreak">
Questions to ask
When it comes to supply, ask yourself the following:
- What capacity does this area, and the surrounding areas, have to develop further?
Consider changes to zoning that could be made, the development-stance of the local council and any larger state plans that might affect the area. It also doesn't need to be an area with lots of land available, it could be that highrises could be built quickly.
- How quickly can supply change?
Look to see how long it can take for developments to get approval, and see if there are any 'quick' planning processes e.g. the 10-day approvals for some types of development in a number of Sydney suburbs.
- What are the different asset types, and which will be more scarce?
Even if an area is filled with units that are struggling to sell, the housing market may be a completely different story. You will want to know these inner workings.  
When it comes to demand, ask yourself the following:
- What are the demand pressures?
Look for population, immigration, employment opportunities and similar.
- What demand pressures may there be in the future?
Maybe there's going to be a new airport or hospital built, or perhaps you're expecting some significant infrastructure investment from the government. Ensure you understand what will happen and what is speculation.
- How quickly can demand change?
If, for instance, you are looking at a mining town, you will want to know how quickly the operation can be wrapped up and whether enough demand will be present from other sources. Consider this about non-mining areas too, and look for a diverse range of demand drivers.
- What type of property is in demand?
Residents may desire three-bedroom two-bathroom houses, however this dynamic may be set to change in the future. Keep the length of your investment plan in mind. You will also want to consider price point and what the majority of buyers can afford.  
We will ask the experts their process for assessing capital growth potential tomorrow, as well as fill you in on how to determine the capital growth ceiling, when to use past growth and which of these supply/demand aspects really pushes the value higher.  
 
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Assessing capital growth potential: Supply and Demand

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While whole of year data on premium housing markets by RP Data indicates a lull in activity at the top end at the beginning of this new growth phase in the property cycle, an analysis of activity across the most recent quarter suggests that conditions may be lifting.
Premium housing markets have generally recorded a larger correction in values than other price segments with the recovery rate to-date below par. However, recent results show that premium housing markets are once again beginning to outperform the broader housing market.
<img src="/images/stories/2013/10/18/kusher-oct-18-one.gif" width="470" height="238" alt="kusher-oct-18-one">
The September 2013 RP Data-Rismark Stratified Hedonic home value results showed that across the most expensive 25% of suburbs, capital city home values increased by 4.5% over the 12 months As a comparison, the most affordable 25% of suburbs recorded annual value growth of 6.2%, while the middle 50% of suburbs saw values rise by 6.4%.
While the results indicated that capital growth across the premium suburbs fell behind when compared to other market sectors over the past 12 month measure, recent quarterly figures provides evidence that the tide may be turning for Australia’s more expensive housing markets.
The premium market, comprising of the most expensive 25% of capital city suburbs, recorded quarterly value growth of 4.1% compared to 3.6% across the middle 50% of suburbs and 2.8% growth across the most affordable suburbs.
Previous growth and correction phase data shows us that the premium housing market is usually the slowest to respond during the early phase of the growth cycle and it appears that this has once again been the case – we have also seen the largest correction occurring in home values over the past few years within the premium housing market.
<img src="/images/stories/2013/10/18/kusher-oct-18-two.gif" width="470" height="208" alt="kusher-oct-18-two">
Several factors contribute to driving demand for premium housing. Higher priced sector of the market has seen the largest correction in values coupled with low mortgage rates where now, these homes become somewhat more attainable for purchasers.
A positive shift in equity markets which is evident in the 19.0% increase in the S&amp;P/ASX 200 index over the past year has boosted household wealth coupled with a rise in consumer confidence.
Finally, we have seen early indicators of an improvement in business conditions with survey-based results and retail trade showing tentative signs of improving in recent times.
<img src="/images/stories/2013/10/18/kusher-oct-18-three.gif" width="470" height="199" alt="kusher-oct-18-three">
A further look in the dynamics of the market shows that between house and unit value growth within capital city premium suburbs, the annual growth in house values is noticeably stronger than unit values.
Premium house values have increased by 4.8% and unit values by 2.3% over the past twelve months. This makes the rate of growth over the year across both premium housing types the weakest for capital growth across the broad price segments.
Over the most recent three months, premium house values are 4.2% higher and unit values are 2.9% higher. The quarterly value growth for premium houses is greater than both the affordable (2.6%) and middle (3.6%) markets whereas premium unit values have underperformed both the affordable (3.9%) and middle markets (3.4%).
<img src="/images/stories/2013/10/18/kusher-oct-18-four.gif" width="470" height="198" alt="kusher-oct-18-four">
Based on our findings, the premium market is experiencing increasing levels of value growth however, it is largely contained to detached houses rather than units.
Across the individual capital cities, the annual rate of value growth across the premium suburbs has been weakest across all major capital cities and product types except for Melbourne houses where the value growth has been stronger than growth for the most affordable suburbs.
Over the past quarter, growth in house values has been stronger than the other sectors for houses in Melbourne and Perth and equal strongest in Sydney.
In Brisbane in Adelaide, house value growth over the quarter has been weakest within the premium suburbs. For units, growth has generally continued to be weakest across the premium sector. The exceptions were seen in Perth where value growth was strongest, and in Brisbane where value growth was stronger than that across the most affordable sector of the market.
Overall, after a lacklustre performance in the more affordable sectors of the housing market, the premium sector is starting to see a stronger growth performance.
While picking up pace, the growth across premium suburbs has largely been limited to detached houses and is very much evident within the Sydney, Melbourne and Perth where the growth cycle has been stronger than other cities
Recent high levels of auction clearance rates, particularly in Sydney and Melbourne have certainly pushed the premium housing market along.
While picking up pace, the growth across premium suburbs has largely been limited to detached houses and is very much evident within the Sydney, Melbourne and Perth where the growth cycle has been stronger than other cities.
Recent high levels of auction clearance rates, particularly in Sydney and Melbourne have certainly pushed the premium housing market along. Of course auctions are only a small overall proportion of the market however, higher priced and unique properties which are typically taken to auction are more a reflection of the performance of the premium housing sector.

<hr>
Cameron Kusher is senior research analyst at <a target="_blank" rel="nofollow" href="https://www.myrp.com.au/">RP Data</a>.
 
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Premium housing market outpacing other segments: Cameron Kusher

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It's undeniable that property enthusiasts, be us home owners, investors, developers or otherwise, look at the world a little differently. There are many skills involved in investing successfully, and it largely takes a team behind you as well.
Some property buyers are, however, more effective than others. Here we delve into which habits are worth acquiring, and ask you which you think is the best for budding investors to focus on. 
Look for solutions
Where an inexperienced buyer will see a grotesque property, a savvy investor will usually see a renovation opportunity and a chance to buy under market value as emotionally-attached home buyers steer clear.
Similarly, an investor will look at areas that many deem "problem" areas and see if they're set to undergo gentrification or significant changes that may make then a prospect down the track.
The best investors know that where other buyers are turned off, there may just be an opportunity lurking and that sometimes it's worth looking beyond face value.
Understand the numbers
We hear the phrase 'run the numbers' a lot, particularly when it comes to doing your due diligence. But the truth is that the best investors truly understand what the numbers mean. This may just be knuckling down into what a rental yield really is, and what effects it, but can go as far as creating your own spreadsheets within which to plot the potential property's statistics.
Those whose investments and properties do well know which numbers, costs, fees and statistics to ask for, and they know what a good investment looks like for their portfolio.
Prepare for the worst
It's great to want your property to do well, but there's no point in leaving yourself under protected and blind to what could potentially occur.
Those who manage to get up again after being knocked down on the property circuit are those who continually think about their defences.
This comes in many different forms, from the structure of your investments from an accounting perspective, to insurances and your own personal situation. What happens if it turns out your property has negative equity? How can you survive if you lose your job and your property <a target="_blank" href="/news">suffers bushfire damage</a>?
Hopefully these situations will never happen, but you need to be thinking about it just in case they do arise.
Consider the end game
There is a habit to love the "here and now" for investing, that is the suburbs that are hotspots currently and a fascination with the sudden rental fluctuations. However, the majority of investors are in it for the long-haul, even if their strategies are active ones, such as developing or renovating for a quick profit.
With this in mind, good investors are continually considering where they want to be, and whether the deals they are looking at help contribute to this overall goal.
Knowing what your situation is going to be at the end of the investment journey will not only help you get to that point, but will allow you to think of situations you might otherwise have ignored. For instance, are you buying a one-bedroom unit in an area that in ten years will be dominated by families, or vice versa? You need to know what an investment will look like down the track.
Leverage advice
Good investors know that there are other fantastic individuals out there to network with. Whether they are from forums, industry professionals or keen investors themselves, there's a wealth of brains out there who are often happy to help.
Some of these sources of advice may come with a price tag attached (and here understanding your numbers and the dollar value worth of advice will come in handy again) but so often there's freely available information that assists most investors get off to a good start.
It's worth just asking someone you look up to for a coffee, or a chat, and tell them your situation and concerns. Keep your ears open, network and continually learn from other peoples' experiences. It's also worth finding out what their mistakes have been in the past - if they have already made them then there's no reason you should too.
Here at Property Observer, for instance, we have data pages, updates, news and opinion pieces that may be of some help. There are a number of other sites, calculators and spreadsheets also online that you'll want to get your hands on.
Continually review and refine
Reviewing your portfolio, life situation and financials is a constant factor of good property investing. This can be formal - sitting down with a notebook, spreadsheet and calculator - or an informal reflection. Either way, there's little chance of reaching your goal if you don't keep an eye on your plan and how you're tracking.
This may be every time something significant happens in your life. These may be weddings, job changes, new cars, children, or similar that property accountant Shukri Barbara from Property Tax Specialists refers to as life's "pressure points" (where he says you should also be heading to your accountant's office!) but it could also just be when you change your mind about what you want in your future.
Constant reviews will also help you ensure that you are prepared for your end game, for the worst case situation and that your numbers are still where you thought they would be when you purchased.
<img style="display: block; margin-left: auto; margin-right: auto;" alt="poll-results-oct-21" src="/images/stories/2013/10/21/poll-results-oct-21.gif" height="345" width="385"> 
 
<hr>
As part of our new series about <a target="_blank" href="/news">choosing the right first time investment</a>, we will delve into some of these points over the next few weeks. Next week, via reader request, we will be presenting you a piece on assessing capital growth potential.
 
<img style="display: block; margin-left: auto; margin-right: auto;" alt="poll-results-oct-18" src="/images/stories/2013/10/18/poll-results-oct-18.gif" height="289" width="427">
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The habits of an effective property buyer

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Architect Ian Moore's own award-winning one-bedroom Surry Hills warehouse has been listed with $2 million-plus hopes.
It's known as the Strelein Warehouse, <a href="https://www.propertyobserver.com.au/https://www.bresicwhitney.com.au/#!/buy/7833" target="_blank">the 41 Prospect Street location</a> being also home to Moore's partner Tess Strelein.
The former 1895 grocery warehouse was bought by the couple in 2008 for $950,000 from artist Jon Plapp who had paid $29,750 in 1978.
It was rebuilt in 2010 then winning 16 national and international awards in 2011 including winner at the 2011 Interior Design Excellence Awards and winner of INSIDE World Festival of Interiors, residential.  
The 84 square metre property has been listed by William Phillips and Maclay Longhurst at BresicWhitney.
The two level, one bedroom residence - with 150 square metre internal space - comes with two street frontages allowing separation of pedestrian and vehicle entries.
<div class="post-content">
<div class="post-content-inner">
<div class="notes-source">
Internally a 1.7 metre height difference between the two streets, Prospect and Chapman streets, is used to create the tall volume of the living space and its floor-to-ceiling wall of books. The kitchen occupies the half level above,overlooking the living area.
<div class="notes-source"> </div>
<div class="notes-source"> </div>
<div class="notes-source"> </div>
<div class="notes-source">Any existing structure that was retained has been lined and painted white, while all new elements are painted black, a concept carried through to the black and white rubber flooring.</div>
<div class="notes-source">All joinery is finished in black anodised aluminium including the upstairs bathroom, also lined with Corian on both walls and floor.</div>
<div class="notes-source">The main street façade re-interprets the original but in steel rather than timber. </div>
<div class="notes-source"> </div>
<div class="notes-source"> </div>
<div class="notes-source">Judging panels have noted the contrast between the precision of the steelwork and the patina of the original brickwork summarised the home’s transformation from 19th to 21st centuries, and from industrial to residential.
 
<div class="notes-source"> </div>
<div class="notes-source">Photos by <a href="https://www.iaindmackenzie.com/" target="_blank">Iain D. MacKenzie</a>.</div>
</div>
<div class="notes-source"> </div>
<div class="notes-source"> </div>
 
</div>
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Ian Moore's Strelein Warehouse, Surry Hills listed with $2 million plus hopes

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Over two weekends, 100 properties have sold in The Hermitage at Gledswood Hills in the south west of Sydney.
The first masterplanned community in the country to be developed by Sekisui House, Gabriel's Run release sold within the first weekend causing them to fast-track another stage during week two.
It included land size ranging from 435 square metres to 592 square metres from $241,500.
Estate sales and customer relations manager at The Hermitage, Craig Barnes, said that buyers were arriving 24 hours before the VIP launch.
Gabriel's Run will include more than 200 home lots at completion.
Construction on three major public parks in the community are complete, with construction on Gabriel's Run Park expected to finish in early-2014.
"Sekisui House is about creating communities and environments that bloom with time, and therefore a great deal of attention has been paid to designing enduring spaces that only get better over time," said Barnes.
The Hermitage is bound by Camden Valley Way, Raby Road and Gregory Hills Drive, and will be a 312-hectare community.
Boutique shopping, cages, restaurants and community facilities are also planned.
The next release for The Hermitage is planned for early 2014, with builds beginning six to eight months after purchase.
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100 properties sold in two weekends at The Hermitage

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The countdown to Christmas comes with increasing anticipation and anxiety - not just the joyous distractions of the long Christmas to do lists.
The looming holiday deadline plays havoc with the property market, but deals can be done right up to Christmas Eve. Indeed one year the late Double Bay agent secured a Christmas Day sale of a luxury Vaucluse waterfront with his New Zealand buyer. It was the booming late 1980s.
Our veteran property commentators, Jonathan Chancellor and Margie Blok offer tips for anxious vendors set to list for auction between now and the Christmas break.   
HE SAID:<img src="/images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" width="130" height="195" style="float: right;">
- Certainly you shouldn't be waiting for a print marketing campaign – advertise your property on the internet immediately, even if the property is billed as a forthcoming auction.
- Choose an experienced local agent who will be pro-active in finding buyers, and then identify the right buyer for your home. Hopefully the agent already knows the likely buyer from their long list of unsuccessful bidders at their recent auctions. 
- Offer extended settlement terms to say March 2014 – as this gives buyers time to sell their property during the likely quieter January and February period.
- Auction clearance rates normally trend downwards through December, but this year its possible the market could be more robust – however it would be a folly to put all your hopes on a December 21 auction outcome.
<img src="/images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" width="130" height="195" style="float: left;">SHE SAID:
- Commission a building and pest report to be made available to potential buyers – not only will it expedite things, but buyers will also see you have nothing to hide. And it could also identify a problem that may to need to be rectified.
- A quick cosmetic clean-up can do wonders – get the men around the house to steam-clean the carpets, wash the windows, re-grout bathroom tiles, touch up paintwork, and high pressure hose outside areas.
- Be sensible about pricing your property - don’t be greedy. Listen to your agent’s market feedback about the value of your home so you can make an informed decision about its worth in the current market based on all the recent comparable sales.
- Meanwhile don't forget a quick declutter, along with styling and professional photographs which will present your property in its best light. If pushed engage a stylist to declutter and do an interior makeover. Certainly hire a professional photographer to take four to six pictures of your property for internet advertisements.
Good luck!
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10 weeks to go: Auction selling tips between now and Christmas: He Said/She Said

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The second rlease of apartments at Crown Group's Skye by Crown in North Sydney has been announced, after more than 90% sold in the first launch.
The <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/skye-by-crown-set-to-become-north-sydney-icon-skye-crown/2013052361500">first launch saw all three penthouses purchased within the first week</a> at 211-223 Pacific Highway North Sydney.
This second release will be the last opportunity to purchase apartments at Skye, from November 2 from 9am, with 40 for sale.
The apartments include one-bedroom suites and one-bedroom suites with studies, as well as a limited selection of two-bedroom upper level apartments.
The $200 million residential development saw more than $100 million of apartments sell on June 15.
Crown Group CEO Iwan Sunito said that the development has been popular across the board with both investors and owner-occupiers.
“People recognise the potential of the North Sydney area and they quickly find apartments at Skye by Crown to be the best on offer in area, across all aspects of design and construction," said Sunito.
“Skye by Crown ticks all the boxes for a sound investment and gives investors the confidence to expect healthy investment returns,” he added.
The development includes 232 apartments across 20 storeys.
It features an infinity-edge pool and gym on the top floor.
Skye by Crown was designed by architect Koichi Takada and recently saw <a target="_blank" href="https://www.propertyobserver.com.au/news/a-sight-for-sore-eyes-the-top-developments-of-the-past-year/2013091265004">42.6% of Property Observer poll respondents noting it as their favourite</a> of five choices.
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