The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

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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Across Australia, there are some straight out unusual suburb names. Some of them are unusual in a quaint or heritage-style way, while others just make the average visitor wince. 
Imagine trying to tell your friends that you've moved into any of the suburbs from the list below, and then try to imagine their reactions.
Here are five of our most disliked suburb names, and a few details about each of the locations.
Let me know which you dislike the most, and send in others to jduke@propertyobserver.com.au  
<a target="_blank" href="/news">Watanobbi, NSW</a>
Located on the Central Coast of New South Wales in the Wyong Shire.
<a target="_blank" href="/news">Rooty Hill, NSW</a>
Located in Sydney's West, in the Blacktown Council area.
<a target="_blank" href="/news">Burrumbuttock, NSW</a>
Located in the central southern section of the Riverina region, and part of the Greater Hume Shire.
<a target="_blank" href="/news">Cockburn Central, WA</a>
Located in the City of Cockburn, it is one of the southern suburbs of Perth.
<a target="_blank" href="/news">Yorkeys Knob, QLD</a>
Located in Cairns, this is a beach suburb in far north Queensland.

<img alt="poll-results-oct-17" height="133" width="420" src="/images/stories/2013/10/17/poll-results-oct-17.gif">And by reader request:
<a href="/news">Innalloo, WA </a>
Originally called "Njookenbooroo" after a local swamp, it was renamed in 1927 due to pronunciation problems, according to <a href="https://www.landgate.wa.gov.au/corporate.nsf/web/History+of+metropolitan+suburb+names" target="_blank">Landgate</a>.
Reader Dan suggests an old Perth joke goes that "you'd rather be Innalloo than Upper Swan."
 We'll find out if the names really do seem to affect the price later this week.
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po-LsXgBTHBmX

Worst suburb names: Would you buy in one of these suburbs?

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Those new to property investment are likely to be in a ‘discovery’ phase of planning, data, and research tools. These tools are important because they make an investor’s life much more time efficient, enabling them to move more quickly with property buying decisions.
Most new investors will have a basic knowledge of the main data sources for property searches and information, such as Realestate.com.au and Domain.com.au, but these are only the tip of a very large data iceberg.
With <a target="_blank" href="https://www.propertyobserver.com.au/residential/with-james-packer-onboard-can-zillow-break-rp-data-s-stranglehold-on-australian-property-data-cameron-mcevoy/2013100265437">James Packers recent part-share acquisition</a> of US property research and buying site Zillow.com, it is great to see some similarly sophisticated tools become available in the Australian market. The best tools use data from multiple sources, as well as an innovative perspective, to allow investors to glean valuable insights for their planning decisions.
Here are some great tools I've identified that should aid investors in their due diligence phase and to minimise risk of suffering from the dreaded ‘analysis paralysis’ that many new investors experience.
1) <a target="_blank" href="https://www.nextforsale.com.au/"> Next For Sale</a>:
I’ve placed this site first because it is new into the market and offers something that many of the other online property listings sites do not.
Next For Sale is effectively a free service that enables property buyers and sellers to get a sneak peek of properties that might be listed for sale yet – but have not been formally placed on the market:
-          Owners can use the service before they officially list their property for sale, to identify if there is any pre-existing market interest in their property, before any formal sales marketing tactics begin. By identifying whether there is high or low pre-existing market interest, owners can set a better or more realistic sales price (or a better reserve price for auction), which in turn could make for a faster sale.
-          Home buyers can also use the service to keep tabs on properties they may be interested in, but are not yet officially on the market for sale. This is a useful tool for home buyers because it allows buyers to identify homes that fit their criteria, outside of the stock that is offered to them by agents.
From an investor perspective, the tool also has great benefits. Home buyers are very much motivated by lifestyle factors in their need to seek a home and this translates to a more speedy property buying process. Factors such as a coming marriage, baby, an expiring lease, a low-rate mortgage environment, or sudden changes like death and divorce, are what drive most home purchases.
Investors, however, bide their time, most of the time! Smart investors know to sit pretty and wait until the right property comes along, before purchasing for as an investment. So a tool like Next For Sale enables investors to identify street patterns within their chosen suburbs, to get an understanding of where latent buyer demand is. This is great because it means where there is home owner demand, rental popularity follows.
The tool could then effectively be used to spy on a micro (street-specific) market within a suburb, and pounce only when the time is right. And when that time comes; you can create a dialogue with owners before any formal sales marketing process begins.
 
2) <a target="_blank" href="https://www.propertyvalue.com.au/">Property Value</a>:
This is an RP Data product/service and works on a paid model. The site offers a great variety of tools that allow customers to access detailed financial and historical data about a property, in relation to neighbouring properties. The services the site offers include:
-          Street reports, allowing users to access the actual sales price each property in their target street achieved, over a specific historical time period
-          Suburb reports allow for the above street-level data, but for an entire suburb. These reports are more expensive but provide great intel behind an entire suburb
-          Professional services, which is effectively access to a network of industry professionals such as valuers, agents, pest/pool inspectors, finance and mortgage brokers and so on
These tools are valuable to investors starting out; as well as experienced investors who do not have enough due diligence data on a new suburb they might want to expand their portfolio with, by buying into.
3) <a target="_blank" href="https://www.onthehouse.com.au">On The House</a>:
This service is probably the closest Australian-based tool to Zillow.com that we have. It enables users to look up specific suburbs, streets, or even properties, to identify any known sales history. The site uses data tools that plug in to provide known historical sales value data. Where it does not know the actual sale price, it speculates based on relatable data what the last sale price may have been. It also offers insights for the rental market, and connects users with local real estate agents close to the property or street in question.
The site is free to join and the granularity of data you receive with a free membership is substantial. Investors could use this resource to:
-          Form a view of a street or suburb in terms of the likely buy-rate they’d be willing to pay for specific property types
-          Assess the rental return achievable in a suburb based on data revealing the actual rents paid on leases. Though the main players Domain.com.au and RealEstate.com.au can be used in a similar way to identify rental return likelihood; OnTheHouse allows you to drill down superficially to ‘rental history’ only, allowing a full view of actual rents paid, not rent rates advertised. This is important as rental application ‘bidders’ can inflate the actual weekly rent rate, so the OnTheHouse data picks up on this.
4) <a target="_blank" href="https://www.realestateview.com.au/">Real Estate View</a>:
This site works similarly to RealEstate.com.au and Domain.com.au; being driven largely by property rental and sales listings. There are two key differentiators with Real Estate View, however:
-          Where most sellers (whether directly or via their real estate agent) tend to pay for listings with just Real Estate/REA Group and Domain.com.au, Real Estate View offers investors and home buyers potentially a fresh group of property listings that may not be listed with the two main players. It is like assessing the supermarket industry, where two major players (Coles and Woolworths) effectively dominate the industry, but other players such as Aldi and IGA also have solid product offerings.
-          The other benefit for investors is the ‘expert view’ editorial approach to the site. Where news stories and data on Domain and Real Estate are often generic, light, and not specific to precise topic areas within the gamut of property buying, Real Estate View brings highly credible industry professionals, working across a variety of key topic areas such as finance, mortgages, search strategies, renovation, tax, growth strategies, moving house, and market intelligence (data plugins).
5) Mortgage Calculator Tools
These tools really are a dime a dozen; with virtually every major and minor bank – as well as non-bank institutions like credit unions and mortgage brokerage houses – are offering to the market. There are different types of calculators on offer, and all are free to play around with:
-          Maximum lending calculators – uses your personal financial and lifestyle data to work out the maximum loan amount you’d qualify for (approximation only), with a given lender.
-          Loan repayment calculators – easily the most valuable to a would-be investor, these allow you to track the feasibility of committing to a loan for an investment property over time.
Though they are very common and all function very similarly, it would be most efficient as a time-poor investor to begin with using or speaking directly to a mortgage broker. The reason being is that running these tools against several individual banks will produce differing results, and take a lot of your time, to do.
The more efficient way to do it is to have a broker run your personal details and financial data, against dozens of prospective lenders, at the same time. This will enable you to shortlist lenders most suited to you, and also to assess lenders based on their product offerings and not just their competitive rates alone.
 
<hr>
 Cameron McEvoy is a NSW-based property investor and maintains a blog, <a target="_blank" rel="nofollow" href="https://www.propertycorrespondent.com.au/">Property Correspondent.</a>
 
 
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cmcevoy-Go82SmsJA9

Five online investor resources to help find your first property: Cameron McEvoy

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Q: Where have all the first home buyers gone?
A: Nowhere - and they are not coming back.
For those interested in property matters, you've probably been bombarded by tales of woe about all those poor first timers who cannot get into the market.
Nasty investors.  Rich baby boomers.  Property bubble.  The need for more grants.  Chinese buyers.  Overseas migrants.  Poor town planning.  Capital gains tax.  The blame game will go on and on…
According to the latest official figures released recently – well for August – first home buyers (FHBs) accounted for 13.7% (always best to get the decimal point in) of all loans – a nine year low.  The long term average is about 20%.
Why?
For mine, reasons for this low level of interest include:
<ul>
<li>
They were brought forward.  The machinations with regards to the first home owners grant (FHOG) have interfered with the property cycle.  The FHOG is great politics, poor policy.  It is also inflationary and has resulted in fewer FHBs than would otherwise have been the case.  It needs to go away.
</li>
</ul>
If it wasn’t for the FHOG, this trend – the decline in FHB numbers – would have started more than a decade ago and the decline would have been far more gradual.  Demographics shape everything.
<ul>
<li>
Generation Y – the largest rental group – is more interested in travel and other lifestyle things than being saddled with a home loan.  They are partnering later, if at all, and history shows that unless one is getting serious about a relationship (and having children is being discussed or on the way), then the momentum to buy your first home is limited.  Renters have better things to spend their money on.  Also, they have more investment options – including their own portfolio of work – than their parents did.
</li>
</ul>
<ul>
<li>
Potential FHBs are happy to share accommodation, especially higher priced rental (and better quality/located) properties and experience the lifestyles that are outside their ability to obtain through home purchase.
</li>
</ul>
<ul>
<li>
HECS debt is also strangling FHB interest.  Under-employment is also having an impact.  Our employment situation is still somewhat shaky.
</li>
</ul>
<ul>
<li>
Expectations are out of whack.  Many FHBs want their first home to be like the one they currently live in.  Many still live at home – without paying rent or doing too much around the house.  There are plenty of options for FHBs to buy a property – for example, a third of all house sales in South East Queensland are still priced under $300,000 – but these properties aren’t good enough for many of today’s FHBs.
</li>
</ul>
We aren’t likely to see FHBs come back into the market at volumes as seen over the past two decades or so.  A new norm is being set.  If this comes true, then we are likely to see three market impacts:
<ul>
<li>
More renting.  But maybe not rental increases.  
</li>
</ul>
<ul>
<li>
Fewer sales made by existing property owners – especially those holding more affordable houses.  Investors might, for a period, replace FHB interest and buy some of these second-hand properties, but investor interest will not be as stable as FHB interest.
</li>
</ul>
<ul>
<li>
Less heat in the overall property cycle – quite ironic given the conversation of late.  A Sydney-centric recovery (boom?) only (so far).  It takes all three market segments – investors, second and subsequent buyers and FHBs – to move together to drive a strong market recovery.
</li>
</ul>
Those trying to sell second hand property – many of them looking to downsize and in more suburban locations – are the real losers here, not first home buyers.  Frankly, they have never had it so good.
Save your tears for something or someone else.
 
<hr>
Michael Matusik is the founder of <a style="font-size: 14px;" href="https://www.matusik.com.au/" target="_blank" rel="nofollow">Matusik Property Insights</a>, which has helped over 550 new residential projects come to fruition.
Read <a href="https://www.matusikmissive.com.au/" target="_blank" rel="nofollow">Michael’s Blog</a> or follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank" rel="nofollow">Facebook</a> and <a href="https://www.twitter.com/michaelmatusik" target="_blank" rel="nofollow">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik" rel="nofollow">LinkedIn</a>.
 
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A new norm is being set, first home buyers aren't coming back: Michael Matusik

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Drive along almost any street in Sydney and you cannot help but notice the number of ‘sold’ stickers on real estate boards across the city. And we’re reading about great auction results and big numbers of buyers turning up for the release of new apartment projects. Right now the real estate market looks active and very healthy with vendors, agents and buyers all in what seems a very positive place.
In some areas marketing budgets are being cut and the time on market can be down to weeks if not days and so the market is clearly in an upward cycle. All of this activity has me thinking about the buyer experience and how well buyers are being serviced by the real estate services professionals. My timing might be a little odd, after all everything is going so well, but I can’t really see a better time to think about how we manage the buyer experience. Across any marketing plan it’s an area that usually comes in for a lot of attention and right now could possibly be a good time for some soul-searching.
Industry role call
It’s been a while since the ABS last looked at the industry in detail and there is both limited and some anecdotal evidence that the number of real estate agents and offices has until recently declined or at least numbers have seesawed.
Keeping in mind that employment in this sector usually lags activity a reasonable estimate is that the number of individual agents currently sits around 60-80,000 people, employed mainly by franchisee offices and independent operators in equal numbers with about 10% working outside an agency structure.
Most agencies are small businesses employing around nine people and together they manage some 1.2 million residential properties for investors and so we are clearly dealing with a large and I would assume very diverse group of professionals. I think that given this diversity it is easy to see why franchise operations are so popular because of the support they can offer, including the important marketing role.
Taking care of business
Right now in today’s market if you’re a buyer, potential vendor or tenant, what sort of experience do you think you might have in looking to buy, sell or rent a property? I think this is a reasonable question to ask before we invest time looking at some of the structural tools we constantly rely upon to improve and add value to the buyer experience in both the short and long term.
Let’s start with vendors. At any time this is a popular group in both the private treaty market and for a major project it is the vendor who after all provides the stock, the basic product we need to sell or lease. For the private treaty vendor, things look very competitive in today’s market with a number of major franchise groups currently running extensive ‘list with us campaigns’ and in one case, win a million frequent flyer points. So this might just indicate vendors are shopping around to find their preferred selling agent. But can the same be said for buyers or tenants?
In any market, good or bad, it is the buyers who must eventually come to the party with the money to complete a purchase. With major projects there is a great deal of planning, research and just plain old hard work that goes into keeping this group happy and informed.
One on one contact is still vital
Later in this topic I will devote some effort and detail looking at the tools committed to engaging the buyer experience for major projects, but first some further observations.
In the private treaty market the competition for a single property can be intense and even the basic groundwork and research can be an arduous task for the buyer. True the major real estate portals do today provide lots of online services to help potential buyers contact an agent, or schedule inspection times and view property details, but sooner or later contact needs to be made and most potential buyers still want to have the face to face conversation with the sales agent, which in a very active market is not always as easy as it sounds.
If you are a ready to buy prospect, waiting for a dozen or more telephone calls and possibly emails or text messages to be returned can be a demoralising experience and some recent feedback I hear tells me it’s a bit of an up-hill battle for marketing agents to manage. But that should not be the case and it does explain why many very successful agents in this area work closely with sales assistants.
Also where major projects are concerned there can be times when a ‘churn’ mentality emerges and some buyers can be left wondering about the level of services they might receive. Even if there is strong demand for a project with many eager buyers lined up, each person is still making a major commitment investing a large amount of money, which they may well have had to borrow. And so I do find myself having to question at times the ‘take-a-number’ approach that can be seen in marketing some projects.
How we manage the buyer experience
There are some well tested tools that we can and do all use to help manage and hopefully improve the buyer experience. These include varied aspects of how a sale is managed on behalf of our clients but this important area also extends to structural and long-term areas such as recruitment of sales staff and the value of internal mentoring.
However before we start to look at some of the individual resources and how we use them, I wanted to re-visit the following quote I came across some years ago:
“Listen to the market, listen to the voice of the market. That’s the fundamental essence of successful marketing” (Yoshio Ishizaka – EVP Toyota).
In our market, the property market, and even with increasingly sophisticated advertising, marketing and now social media tools and with today’s buoyant outlook we need to keep in mind that we are always engaged in real relationships with people. If the buyer experience helps to build quality relationships between people who then discover a common connection with us and the projects we market, then we will thrive in a healthy way.
The buyer’s experience will always involve a degree of emotion, sometimes a lot of emotion but that can lead to action, and while other aspects of the sales path will be built around reason and good communications, helping buyers make the right conclusion about this or that property is the core of what we do. 
 
<hr>
 Peter Chittenden is managing director for residential of <a target="_blank" rel="nofollow" href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx">Colliers International.</a>
 
 
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Are you being served? Looking at how we can better take care of buyers needs: Peter Chittenden

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The economy is marking time at the moment, all the available evidence is telling us, including some out this morning.
First of all, Finance Minister Mathias Cormann issued the government’s first monthly financial statements, covering July and August. They show tax revenue tracking more than $3 billion lower than forecast. Now, most of that was offset by expenditure tracking below forecast as well, and it’s only two months so there’s no point making too much of the figures, but they at least suggest that the new financial year began the way the previous one ended, with tax revenue performing poorly.
The ABS also released <a target="_blank" href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/8752.0?OpenDocument" rel="nofollow">Building Activity data</a> for the June quarter. Both overall construction and residential construction rose a little in trend terms and fell in seasonally adjusted terms, with the most startling figure being a 0.7% seasonally adjusted fall in new residential building. That is problematic because what dragged it down was new house building, which fell 2.8% in the quarter seasonally adjusted and 1.4% in trend terms. That will continue to focus the Reserve Bank on the mix being generated by low interest rates between new home construction?—?which everyone wants?—?and rising prices for existing homes, which only home owners want.
Overall <a href="https://www.abs.gov.au/ausstats/abs@.nsf/mf/8782.0.65.001?OpenDocument" target="_blank" rel="nofollow">construction activity data</a> was also released, showing private engineering construction continuing to fall in seasonally adjusted terms?—?no surprise there?—?albeit a little offset by a welcome rise in public sector residential and non-residential construction.
All that’s on top of yesterday’s meh September unemployment numbers: the headline unemployment rate fell but participation also fell and overall employment growth was underwhelming?—?just 9000 new jobs, seasonally adjusted, and aggregate monthly hours worked actually fell, seasonally adjusted, the first fall in four months.
All of this backwards-looking, especially the building data (although the <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/ProductsbyReleaseDate/0545FFC6A101264DCA25719F007F6F1F?OpenDocument" target="_blank" rel="nofollow">August building approvals data</a>showed no pick-up in the new financial year?—?but maybe there’ll be a post-election boost), and is really part of the last data from Labor’s time in office?—?its last GDP and CPI data are still to come. But it confirms that Labor and Treasury were right to downgrade economic growth and employment forecasts for the rest of this year. The news is by no means bleak?—?this is still a low inflation, low unemployment economy, but the transition from the mining investment boom is still not secured yet.
Treasurer Joe Hockey, Cormann and the RBA will be focused on ensuring that happens in the next couple of quarters.

<hr>
This article first appeared on <a href="https://www.crikey.com.au/" rel="nofollow">Crikey</a>.
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bkeane-XQ2u7CA6bB

Economy marking time with more flat news from the statisticians

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Population growth is arguably the most important indicator of housing demand. More residents generally translate to a larger requirement for dwellings. Of course there are changes in household formation that need to be taken into account (for example, more people under one roof and maximising existing bedrooms in an effort to combat housing affordability), however population growth remains the most important indicator for housing demand.
Over the first three months of 2013 the Australian population increased by 114,751 new residents; close to a record high (there have only been five previous quarters over the past 30 years where the population has grown by a larger amount). 36% of this population growth was attributable to natural increase (ie births minus deaths) while the majority of new residents came from net overseas migration.
<img class="aligncenter size-large wp-image-2578" alt="qtrly change in national pop net os migration v natural increaes" src="https://blog.rpdata.com/wp-content/uploads/2013/10/qtrly-change-in-national-pop-net-os-migration-v-natural-increaes-580x249.jpg" width="470" height="202" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;">
Unfortunately the quarterly demographic updates from the Australian Bureau of Statistics aren’t all that timely; in fact the statistics are about six months in arrears. The most up to date population estimates at a state/territory/national level are current to March 2013 and the June update won’t be available until December 17th.
Fortunately we do have interim data on overseas arrivals and departures which is published monthly and provides a useful indicator for where overseas population growth is heading. Focussing on permanent and long term arrivals and departures data from the ABS, it is clear that overseas migration, while remaining historically high, has already passed the peak rate of growth.
Over the month of August the ABS reported 53,470 permanent and long term arrivals. In balance there were 30,390 permanent and long term departures resulting in a net increase of 23,080 new permanent and long term movements. An annual summation of the overseas arrivals and departures data shows 680,200 arrival movements and 371,440 departure movements; a net gain of 308,760 permanent and long term residents/visitors who require accommodation of some description.
<img class="aligncenter size-large wp-image-2575" alt="annual perm and lt arrivals v departures" src="https://blog.rpdata.com/wp-content/uploads/2013/10/annual-perm-and-lt-arrivals-v-departures-580x226.jpg" width="470" height="183" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;">
<img class="aligncenter size-large wp-image-2577" alt="net perm and lt movements to aust" src="https://blog.rpdata.com/wp-content/uploads/2013/10/net-perm-and-lt-movements-to-aust-580x232.jpg" width="470" height="188" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;">
The inflow of migrants remains high; however an examination of the annual trend shows that net migration into Australia has been slowing since commodity prices peaked back in late 2011. The last time we saw the rate of overseas migration falling away like this was in early 2009; a trend which was policy driven in response to a rising rate of unemployment.
Currently, despite the improved unemployment reading for August (the national rate of unemployment shifted from 5.8% in July to 5.6% in August due to a drop in the participation rate) it is widely anticipated that national unemployment will continue to trend higher and is likely to peak around 6.25% according to Federal Treasury. Potentially we will see similar calls for migration policy change if unemployment continues to trend higher.
<img class="aligncenter size-large wp-image-2576" alt="month on month percent change in net annual os arrivals and departure movements" src="https://blog.rpdata.com/wp-content/uploads/2013/10/month-on-month-percent-change-in-net-annual-os-arrivals-and-departure-movements-580x247.jpg" width="470" height="200" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;">
The Department of Immigration and Citizenship, based on their June 2013 update, is still forecasting modest rises in net overseas migration, as can be seen in the table below (extracted from their latest immigration update (<a href="https://www.immi.gov.au/media/publications/statistics/immigration-update/nom-june-2013.pdf">click here</a>)).
<img class="aligncenter size-large wp-image-2579" alt="table 1 - nom" src="https://blog.rpdata.com/wp-content/uploads/2013/10/table-1-nom-580x153.jpg" width="470" height="124" style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;">
If the department is correct in their forecasts we should continue to see a strong rate of overseas migration which will continue to fuel the high rate of national population growth. The month to month overseas arrivals and departures data supports the notion that overseas migrants are continuing to grow in numbers, but the rate of growth has moderated since 2011.
Without doubt, as unemployment moves higher we can expect more debate about whether this strong rate of migration is the correct policy for our country.
Personally, I am very much pro ‘Big Australia’ but it is absolutely essential that any population growth targets run parallel with infrastructure development; something that both federal and state government have struggled with in the past. Additionally, migration targets need to be strategically matched with domestic labour shortages and aimed at sectors that will benefit from the rapid ramp up of human resources that overseas migration can provide.

<hr>
Tim Lawless is national research director of <a rel="nofollow" href="https://www.myrp.com.au/" target="_blank">RP Data.</a>
 
 
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Housing demand created by overseas migration is a strong force, but slowing: Tim Lawless

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Research by RP Data shows that while capital city values are climbing, rental yields began to decline and with further drops expected to emerge over the coming year.

Although value growth may be strong at the time when mortgage rates are incredibly low, once rates eventually increase, value growth can quickly slow which was evident in late 2009 and 2010.
While there are benefits associated with negative gearing, investors may like to look at the longer term costs and benefits associated with housing market investment rather than just speculating on a short-term capital gains. The problem with a strategy around purchasing for investment purposes in the current market is two-fold.
<img src="/images/stories/2013/10/11/kucher-oct-11-one.png" width="470" height="216" alt="kucher-oct-11-one">
Firstly, capital gains as opposed to rental return is not realised until the point of sale. Secondly, although home value growth may be strong at a time when mortgage rates are incredibly low, once rates eventually increase, value growth can quickly slow. A feature rarely seen across the residential housing market is simultaneous growth in values and growth in rental rates.
Given that yields are based on rental rates and home values, if values rise quicker than rents you will see an erosion of rental returns.
The September RP Data-Rismark Home Value Index covering capital city house values shows an increase by 5.7% over the past year while unit values increased by 4.4%. At the same time, rental rates increased by just 3.1% for capital city houses and 2.6% for capital city units.
<img src="/images/stories/2013/10/11/kucher-oct-11-two.png" width="470" height="194" alt="kucher-oct-11-two">
Over the years, the annual rate of rental growth has seldom outpaced the annual rate of home value growth. The two instances in which this has occurred was when home values fell through 2008, 2011 and 2012. Of note is that rental rates never fell on an annual basis over the period however, the growth was generally moderate.
Movement in gross rental yields over recent time shows that as home values experienced strong growth throughout early 2000, a significant deterioration in rental yields was evident. Since that time an improvement in yields during 2008 and 2011/12 can be seen as rental growth outpaced value growth. However, yields never returned to their previous highs. In recent times, gross rental yields have started to ease as growth in capital city home values outpaced rental growth.
There will always be discrepancies between the performances of rental growth across individual capital cities. If we firstly look at the annual change in major capital city rental rates we will see that the general trend is that rental growth is either slowing or quite sluggish.
<img src="/images/stories/2013/10/11/kucher-oct-11-three.png" width="470" height="192" alt="kucher-oct-11-three">
Rental growth for homes across the major capital cities over the past year has been recorded at: 3.6% in Sydney, 2.1% in Melbourne, 2.3% in Brisbane, 2.5% in Adelaide and 4.6% in Perth. At the same time 12 months ago, the annual rental growth figures were: 2.0% in Sydney, 1.2% in Melbourne, 2.5% in Brisbane, 0.3% in Adelaide and 11.4% in Perth.
Sales volumes estimates show that over the three months to July 2013, sales were higher across each major capital city than over the same period the previous year. As the number of homes purchased increases, this should alleviate many of the rental growth pressures present in the market, reducing the scope for investors to significantly lift rental rates. Given this, the outlook for rental growth is that although it may continue to rise, it is likely to do so at a moderate pace.
<img src="/images/stories/2013/10/11/kucher-oct-11-four.png" width="470" height="216" alt="kucher-oct-11-four">
For Sydney, Melbourne and Perth, value growth over the past year has outstripped rental growth. Should this continue, there will undoubtedly be a further deterioration of rental yields.
In Brisbane and Adelaide rental growth has marginally outperformed value growth however; the gap has narrowed significantly over the year.
With values anticipated to continue to increase in Sydney and Melbourne and the potential for value growth to accelerate in Brisbane and Adelaide over the coming year, we should expect further erosion of rental yields.  
<img src="/images/stories/2013/10/11/kucher-oct-11-five.png" width="470" height="218" alt="kucher-oct-11-five">

<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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ckusher-ujnxiKuFQs

Capital city home values rising while rental yield returns are declining: Cameron Kusher

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Hi Margaret,   
I have a brand new home and am about to rent it out.  I have building and contents insurance, as well as landlord insurance.  
The real estate agent in Queensland is telling me that they will not accept my business if I do not have public liability insurance to cover the tenants in case of injury.   
It is my understanding that this was the responsibility of the tenants?  
Your help is appreciated.
Kind Regards,
Salllie
 
Hi Sallie,
This is a good question and one which many new landlords ponder.  The responsibility for ensuring that a person has access to financial recompense if they injure themselves when on premises not owned by them falls to the owner of that premises.  In the case of a rental property, this responsibility clearly lies with the landlord, and so the agent is correct.  
However, you say that you have building, contents and landlord’s insurance already. This means that you will have public liability included in the building policy and the landlord’s policy, and both amounts are likely to be for cover of up to $10m!  Grab your policy and have a good read as I know you will find this inclusion in both.  
Which leads me to my next piece of advice.  Don’t use that particular manager to manage your property!  If you have told them that you already have both building and landlord’s protection insurance, they should know that you already have this cover.  Even if you have not told them you already have this, rather than just refusing your business, they should have explained how to get this cover, and you would then have been able to advise that it was already in place. 
In short it’s you who should be refusing their business!    
Regards Margaret,

<hr>
Margaret Lomas is a best-selling author and writes and hosts the popular Property Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News.
She is the founder of <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" target="_blank" rel="nofollow">Destiny</a>.
Have a property question? <a href="mailto:askmargaret@propertyobserver.com.au" target="_blank">Ask Margaret!</a>
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mlomas-KC9MUPZ6Ca

Do I need public liability insurance to cover my tenants? Ask Margaret

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Australians have the highest median wealth in the world, with average household wealth having grown a staggering 13% a year since 2000, Credit Suisse’s <a rel="nofollow" href="https://publications.credit-suisse.com/tasks/render/file/index.cfm?fileid=BCDB1364-A105-0560-1332EC9100FF5C83">annual global wealth report</a>, released yesterday, shows.

The world’s done well since 2000. Total global wealth has doubled since 2000, global financial crisis notwithstanding.
This has been driven by emerging markets.
But Australia is unique among the developed nations surveyed by Credit Suisse in also having experienced staggering growth in wealth over the period.
Australia’s average wealth per adult is US$402,600 (AU$426,100), which is the second-highest in the world after Switzerland. Australia’s <a rel="nofollow" href="https://en.wikipedia.org/wiki/Median">median wealth</a>, however, is the highest in the world, at US$219,500 (AU$233,504).
Median wealth is the wealth of the middle wealthiest person in Australia, and so would be higher in a relatively equal society. When it comes to wealth distribution, most (62.6%) Australians had wealth between US$100,000 and US$1 million. Only 6.9% of Australians had a net worth of under $10,000 – a very low proportion by global standards.
Australia’s wealth is heavily skewed towards ‘real assets’ as opposed to financial ones. Australians have the second-highest real asset allocation in the world, behind only Norway, with most of our wealth being bundled up in our houses.
Australia accounts for 3.8% of the world’s richest 1%, despite accounting for only 0.4% of the world’s population.
What’s driving Australia’s extraordinary wealth growth?
Half of it, Credit Suisse writes, has been driven by the appreciation of the Australian dollar. The dollar’s extended parity with the American dollar has made Australian assets relatively more valuable compared to those of other countries when converted into a common currency.
Australia’s Higher Education Contribution Scheme (HECS) system also plays its part: Australia has relatively low student loan debt, which means people start their working lives without being thousands of dollars in the red, as happens in many other parts of the world.
Australia also has relatively low credit-card debt.

<hr>
This article first appeared on <a target="_blank" href="https://www.smartcompany.com.au">SmartCompany</a>.
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mrobin-TVRYiru7si

Australians' median wealth is the highest in the world, new research finds

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We all know Melbourne has experienced an increase in apartment and townhouse developments over the past few years. It is hard not to notice these new developments under construction - especially in the inner suburbs. The result of this increasing trend is that for a growing number of suburbs, the majority of dwellings are no longer houses.
Footscray is an example of such a suburb. According to the 2006 Census, around 53% of homes in the suburb were houses. By the 2011 Census, only 47% were houses, with the majority of homes now in the form of townhouses and apartments.
This increase in medium and high rise dwellings provides home buyers with greater options. Home buyers can now select either a house or a unit; they can also choose between a townhouse and an apartment.
Obviously, the main difference is one of size. Townhouses generally have larger living areas than apartments and many feature a backyard or courtyard space. This difference in size is also reflected in the price.
REIV analysis of sales in June quarter 2013 reveals that townhouses can have a substantial price premium over an apartment. This price premium is highest in the inner suburbs. The median price of a townhouse in the inner suburbs was $640,000 in June quarter 2013. This is 35% higher than the median price of an apartment at $472,500. This price premium falls to 15% in the middle suburbs and two% in the outer suburbs.
Choosing between a townhouse and apartment can be the starting point for many home buyers looking in the inner suburbs. To find out more, visit <a href="https://www.reiv.com.au/">www.reiv.com.au</a>
 
<hr>
 Enzo Raimondo is CEO of the <a href="https://www.reiv.com.au/" target="_blank" rel="nofollow">Real Estate Institute of Victoria</a>.
 
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