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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A return to growth in the house building and apartment building sub-sectors have boosted national construction to the point where it’s recording its strongest reading in three and a half years in September, according to the Australian Performance of Construction Index.
While this positive result was seen, with a 3.9 point lift, the index record stayed just under the 50 “break even” point at 47.6.
Growth in new orders was listed as the reason for expansion in activity for the first time since April 2010.
Australian Industry Group chief economist, Julie Toth, said that the construction sector is now closer to stabilisation more so than at any time up until 2010.
“The housing and apartment sectors are driving the industry’s improved performance on the back of lower interest rates and a lift in buyer sentiment. Meanwhile, declines in both commercial and engineering construction moderated in the month,” said Toth.
“Despite these encouraging trends, it is clear that the industry continues to face a tough operating environment with impediments such as tight credit conditions and a lack of public sector building activity continuing to weigh on overall activity. Nevertheless, with new orders increasing for the first time since May 2010, there are grounds for cautious optimism that the current improving trend can be sustained in coming months,” she said.
Propell National Valuers economist, Linda Phillips, said that it's worthwhile remembering that there's still strictly a decline - it's just a slower decline than has been seen in recent times.
"What is actually happening is that the construction sector continued to decline in September, but is declining at its slowest pace in 3 1/2 years and is expected to level off in the coming months, pointing to a possible expansion in the new year," said Phillips.
"A reading of 50 is a breakeven point, indicating that activity is neither increasing nor declining. The index has climbed to 47.6 in September, which means that construction activity is still declining, but by not as much as previously. However, with improvements in housing construction demand, it is likely that the index will move towards breakeven in coming months," she said.
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jduke-EHk3XBmHkn

Construction at strongest in years, but still declining

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Realestate.com.au has revealed the suburbs most-searched for by property buyers in Australia.
The South Australian suburb of Parkside tops the list, followed by Freshwater in NSW and Belair in South Australia.
The list is published every quarter.
Belair, Ashwood, Blackburn South and Stanmore are all newcomers to the list, while Freshwater, Fullarton and Newmarket regained popularity with buyers after dropping off last quarter.
The top 10 suburbs are:
1. <a target="_blank" href="/news">Parkside </a>(SA)
2. <a target="_blank" href="/news">Freshwater </a>(NSW)
3. <a target="_parent" href="/news">Belair</a> (SA)
4. <a target="_blank" href="/news">Newmarket </a>(QLD)
5. <a target="_blank" href="/news">Surrey Hills</a> (VIC)
6. <a target="_blank" href="/news">Ashwood</a> (VIC)
7. <a target="_blank" href="/news">Blackburn South</a> (VIC)
8. <a target="_blank" href="/news">Fitzroy North </a>(VIC)
9. <a target="_blank" href="/news">Stanmore </a>(NSW)
10. <a target="_parent" href="/news">Fullarton </a>(SA)
Parkside also took out top spot in the website's <a target="_blank" href="/news">July report</a>. 
At the same time last year the top 10 suburbs were:
1. <a href="/news">Parkside</a> (SA)
2. <a target="_blank" href="/news">Norwood </a>(SA)
3. <a target="_blank" href="/news">Walkerville </a>(SA)
4. <a target="_blank" href="/news">Hazelwood Park</a> (SA)
5. <a target="_blank" href="/news">Mont Albert</a> (VIC)
6. <a target="_blank" href="/news">Clifton Hill</a> (VIC)
7. <a target="_blank" href="/news">Park Orchards</a> (VIC)
8. <a target="_blank" href="/news">Unley </a>(SA)
9. <a target="_blank" href="/news">North Rocks</a> (NSW)
10. <a target="_blank" href="/news">Carlton North</a> (VIC)
 
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awalsh-7Ub9EypybQ

Top 10 most searched for suburbs in Australia

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We've been reading about it for the last few weeks, and some of us have been talking about it for years: The Property Bubble.
We asked some of the country's top economists and commentators in the property space to share their thoughts exclusively with Property Observer.
They were each asked:
Do you think there is a property bubble in Australia? Why/Why not?
Here, we share their responses to this question.
We also invite other spokespeople, and readers, to have their say.
Yesterday we polled our readers to find out their views on the question; the results are below. It's fairly clear most of you believe there is a housing bubble or one coming soon.
<img src="/images/stories/2013/10/04/poll-results-oct-4.jpg" width="470" height="258" alt="poll-results-oct-4">
Email <a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a> if you have an opinion that you think hasn't yet been shared.
Here are our experts' opinions.
 
Shane Oliver – Head of investment strategy and chief economist, AMP Capital<img src="/images/stories/2013/10/04/shane-oliver-profile.jpg" width="125" height="150" alt="shane-oliver-profile" style="float: right;">
NO BUBBLE YET, BUT RISKS HAVE INCREASED
What a difference a year makes! A year ago the big concern was that interest rate cuts won't work to boost the economy with some predicting a house price crash. Now it’s the other extreme with worries of a bubble. To be sure the risks of the housing market becoming a bubble have increased: mortgage rates are around record lows, house prices are picking up and buyer confidence has returned.  
However, just because house prices are rising at above average rates doesn't mean it’s a bubble any more than the falling prices over the 2010 to 2012 period means a property crash. Some aspects of a bubble certainly exist, in particular Australian house price to rent and house price to income ratios are well above long term average and well above global average levels. But this has been the case for more than a decade.
Other aspects that would normally be expected in a bubble are not yet present: house prices have only just risen above 2010 levels and have only been rising for a year, whereas housing bubbles normally see years of gains; housing credit growth is still around record lows at 4.7% year on year whereas during the bubble years last decade it was in the double digits; and I don't see the sort of speculative fever that normally goes with bubbles although we may be starting to get there given the media coverage.  
Finally, rising unemployment will likely be a constraint.  
So while the risks of the housing market becoming a bubble have increased I doubt we are there yet - one year of average home price gains of 5.5% certainly does not qualify - and there is a good chance we will avoid one in the year or so ahead. To be honest I rather hope we do, because bubbles bring the risk of official measures to pop them and by definition run the risk of ending with a crash.  
 
Steve Keen – Professor of economics and finance, University of Western Sydney<img src="/images/stories/2013/10/04/Steve-keen-profile.jpg" width="125" height="150" alt="Steve-keen-profile" style="float: right;">
BUBBLE HAS BEEN HERE FOR A WHILE
 
Yes there's a bubble--or rather that the bubble that began to burst back in 2012 has been given a new lease of life by falling mortgage rates, and the rise of two new classes of buyers, both of which should have been limited by public policy but have instead been promoted by it: wealthy Chinese buyers hedging their political and environmental bets by buying property on Australia, and self-managed superannuation funds who are now allowed to call a levered bet on property an investment.  
No sane country allows 50% of its new properties to be bought by non-residents: the rational limit applied by many European countries is 10%. Our policy is doubly insane given our geographic location and size, since there are certainly more Chinese millionaires than there are Australians.  
And superannuation funds should be allowed to buy properties for the income stream, but with no leverage. The leverage and seeking capital gain turns this from an investment to a speculation, and the leverage itself drives up the prices and causes the desired capital gain.  
These two additional forces drive out first home buyers, making for disastrous social policy. But it seems appeasing baby boomers with ever rising house prices matters more to both parties than affordable housing.  
The flies in the ointment for this bubble are (1) that Australians haven't deleveraged after the GFC, as Americans did. US mortgage debt has fallen from 86% of GDP to 68%, we have flatlined at about 88%. So any interest rate rise--and I think the RBA will be forced into them soon given this bubble (that they could have prevented with LVR controls as in New Zealand)--will crucify demand from upgrades and even investors; and (2) that the buyers are far more investors now than upgraders. They are utterly dependent on Chinese and superannuation demand to make a profit, because they can't all get rich selling second hand houses to each other.  
So I stick with seeing this as a suckers rally, but one aided and abetted by a compromised political class.  
 
<hr class="system-pagebreak">
Tim Lawless - National research director, RP Data
<img src="/images/stories/2013/10/04/TimLawless-profile.jpg" width="125" height="150" alt="TimLawless-profile" style="float: right;">
NO BUBBLE YET, BUT WE NEED TO TALK ABOUT IT
 
The first thing to point out is no I don't think there is a property bubble but the debate it worth having. We’ve seen values up by 3.7% over the quarter and since it bottomed out last year, it's great to see a growth cycle and at the beginning of a cycle you see strong rates of growth. But these rates of growth are not as strong as we have seen in previous cycle starts. In saying that, I think the debate is more focused on two key markets - Sydney and Melbourne, which is dragging the capital cities up.  
Our index is a weighted index and so these cities have heavier weighting as they have more stock. Brisbane was actually down in September and over the past decade; values have only risen in Brisbane by 4% per annum.  
Look back to 2007 and Brisbane arguably overshot the mark, which is why it's largely subdued now as it's feeling the pain from a strong run of growth in 2007.
As capital gains outpace rental growth the impact on yields naturally dampens investor exuberance.  
Melbourne yields on a house are 3.5%. As yields become eroded and there’s more speculation about these markets overheating, we’ll see investors move to other markets. Brisbane is the obvious candidate as dwelling values are substantially lower, yields are much higher and the fundamentals are relatively strong. I think Brisbane will be a natural flow-on point.
Perth and Darwin have been standouts until six months ago, and now they’re hitting the breaks. It’s explainable by the slowdown of the mining sector and some of the slowdowns and cancellations of projects we’re seeing. It stands to reason that as labour markets slow so does the housing market, as the two are intertwined.  
Generally when you talk about a bubble you're talking about a strong unsustainable ramp up that will be followed by a correction. Over the past quarter the growth rate is high and warrants this sort of discussion. They should be watched with scrutiny if we see the growth continue into 2014, but I don’t think we’re in a bubble yet. However, this conversation is healthy to have.  
Even though the Reserve Bank and APRA haven't been overt in their actions I think it's guaranteed their over the table discussions would be deliberate with the financial sector to ensure lending standards are maintained.  
 
Saul Eslake - Chief economist Australia and New Zealand, Bank of America Merrill Lynch<img src="/images/stories/2013/10/04/saul-eslake-profile-2.jpg" width="125" height="150" alt="saul-eslake-profile-2" style="float: right;">
NO BUBBLE YET, PUT POTENTIAL RISKS
 
At this stage I don't think it is accurate to characterise Australia's property market as a 'bubble'. It's certainly true that Australian property prices have begun to rise again, spurred by very low interest rates and by the interaction between strong growth in 'underlying' demand and unresponsive supply. And it's also true that the current rise is occurring from a very high base, both by historical and by international standards. So far, however, the current upswing in property prices doesn't seem to be being driven by rapid growth in debt, which is another key hallmark of a 'bubble'.
After rising very rapidly between 1992 and 2005, household debt has been fairly stable as a proportion of household disposable income since 2006. And over the past year, during which property prices have risen by an average of 5.3%, the total stock of housing debt outstanding has risen by only 4.7%, close to historical lows.
However, if interest rates remain at very low levels for an extended period (or fall further), it is quite conceivable that the Australian property market could take on 'bubble'-like characteristics, with people borrowing in order to buy property purely in expectation of reaping capital gains.  
One worrying feature of the current upturn in the property market is that it is being driven to a greater than usual extent by investors, who, to a much greater extent than owner-occupiers, typically buy established properties rather than new ones. If that remains the case as the upturn continues, it will do more to boost prices and less to induce new construction than either the Reserve Bank wants, or the country needs - increasing the chance of an abrupt correction when interest rates start rising again - which they will do sooner rather than later if property prices and mortgage debt start to rise at rapid rates.
Ideally, the federal government would reform the taxation system so as to reduce the extent to which it inflates speculative demand for housing, while state and local governments would reform their tax systems and their planning policies so as to make it easier to boost the supply of housing. But history argues against expecting much on either score.  
 
<hr class="system-pagebreak">
Louis Christopher – Owner, SQM Research<img src="/images/stories/2013/10/04/Louis-Christopher-profile.jpg" width="125" height="150" alt="Louis-Christopher-profile" style="float: right;">
NO BUBBLE, RECOVERY SET TO ACCELERATE
Typically, a bubble is characterised by explosive rises in prices (typically double digit annualised price rises) which occurs across the most of the sector or economy. At this point in time national house prices are only recording modest to moderate capital growth rates (at about 6% annualised) with one city (Canberra) actually recording price falls. There are only two cities recording above average price growth, that being Sydney and Perth.
To call it a national housing bubble, we would need to at least see Melbourne and Brisbane also record double digit capital growth. That just simply isn’t happening right now and is not likely to happen given those market are currently well supplied.  
However, we do envision a situation that dwelling price growth rates will accelerate to a point later next year, where it may become a little uncomfortable for the RBA and, at that point, they may wish to tap on the brakes and lift interest rates to slow the pace down a little. That maybe a difficult proposition for the bank, especially if the economy itself is recording below average GDP growth rates and especially if most of the national lift in dwelling prices is really just coming from a heated Sydney market.  But even if that is the case, it still may not be classified as a 'bubble'. But rather a very manageable situation that can be nipped with just a tap of the interest rate brakes.  
So, is the Sydney market in a bubble? Sydney itself was actually overdue for a large lift in prices. The local market has largely underperformed compared to other capital cities over the past 10 years in what was really a consolidation period from a rather frothy market back in 2003; a point in time when the Sydney market was indeed extremely overvalued.
In terms of the valuation metrics we consider, even with the price rises we have had to date and SQM’s rather bullish forecast for next year taken into account, Sydney would still not be at those hefty highs recorded ten years ago. There are also some firm fundamentals driving the market; namely being a genuine shortage of accommodation, an improving state economy which has kept unemployment below the national average; a strong population growth rate. That is not to say the market won’t get into overvalued territory in this cycle; it will. But just not right now.  
So, in our firm conviction there is no property bubble at present in the Australian housing market. End of story. Before blindly following those who make such warnings, perhaps do some research on their previous calls. I can tell you now; it’s not a pretty picture.  
If there was a current property bubble right now, you would hear it from us first. Our track record speaks for itself. We are on public record as forecasting the downturn of 2010 to 2012. And we are on public record for predicting the recovery of 2013. And now in recent weeks have been on public record as being picking that this recovery will accelerate into 2014. We are the only analysts out there with this type of record and it is done without a conflict of interest or deliberate hysteria.  
 
Andrew Wilson – Senior economist, Australian Property Monitors<img src="/images/stories/2013/10/04/AndrewWilson-profile.jpg" width="125" height="150" alt="AndrewWilson-profile" style="float: right;">
NO BUBBLE AND NO CRAZY BOOM
 
So here we go again. The housing market bubble bandwagon is up and running – but this time it’s a crazy boom not a scary bust that is being predicted by some for the Sydney housing market next year.  
The reality more likely is that the Sydney housing market is about as close to a boom next year as it was to the bust that was widely predicted for last year.  
Low interest rates, rising confidence and a surge in investor activity are the current drivers of the Sydney housing market together with a solid performance by the local economy.
But the underlying drivers remain problematic for sustained high levels of house price growth next year. Sydney’s unemployment rate is now rising towards 6% and predicted to continue to rise. Wages and profit growth remain subdued in a low inflation economy with a stagnant stockmarket continuing to constrain growth in the prestige market. The prospect of sharply falling rental yields will also prove a disincentive for new investors.  
Prices growth in Sydney is likely to peak over the next six months with continued solid growth dependant on a sustained revival in the economy and unemployment falling to or below 5%.  
For the record, Sydney’s highest annual house price growth over the past 20 years was in 2002 at 22.2%. Next best was 2001 at 17.4%.  
If, as has been heroically suggested by some, Sydney house prices were to rise by 20% next year that would bring the median price to nearly $900,000. Enough said.  
 
<hr class="system-pagebreak">
Harley Dale - Chief economist, Housing Industry Association<img src="/images/stories/2013/10/04/harley-dale-profile.jpg" width="125" height="150" alt="harley-dale-profile" style="float: right;">
NO HOUSING BUBBLE, WE'RE IN A RECOVERY
 
Australia does not have a housing bubble, but rather a recovery in some dwelling price markets. Nationally, dwelling prices are no higher in real terms than back in late 2007. Dwelling prices are still declining in three capital city markets and in non-metro Australia, and are barely growing faster than the rate of inflation in a further two cities.
Not quite ‘speculative fervour’! Australia does not have high levels of new home building – we are constructing fewer homes than a decade ago. We do not have an extremely high level of transactions occurring as investment properties change hands in rapid fashion – transactions volumes are recovering but are still below historical averages.  
Median dwelling prices are growing strongly in Sydney, Perth, and to a lesser extent Melbourne. Sydney is receiving much attention, but prices there were the worst performing of any capital city market over a decade. A ‘first stage’ recovery in new home construction is underway in both Sydney and Perth and it is crucial that further growth occurs in 2014 and 2015.
A sustainable lift in the supply of new dwellings and how that can be assured is where the focus needs to reside, not a preoccupation with a fictitious bubble. The latter focus harms the prospects of a sustainable, broad-based new home building recovery emerging at the very time when that is one of the key outcomes the Australian economy requires.  
 
Whose opinion would you like to have added to the list? 
Email <a href="mailto:jduke@propertyobserver.com.au">jduke@propertyobserver.com.au</a> and we’ll consider getting their viewpoint.
 
 
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po-LsXgBTHBmX

Is there a property bubble? The experts have their say

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HE SAID: SADLY, NO
<img height="225" width="150" src="/images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" style="float: right;">
Although I am a devotee of the famous opera diva, I don’t think her name carries much weight anymore.
Indeed, I notice the current listing of a Warrawee residence, Kirkoswald, makes no mention of her name in its marketing campaign. Unlike previous advertising campaigns when her name was considered noteworthy. It last sold for $4.9 million in 2005.
During the height of her fame early last century, Dame Nellie Melba performed in a reception room at Kirkoswald, at 22 Warrawee Avenue (pictured below), the 1906 Victorian Free Classical style mansion designed by architect J. Burcham Clamp for Irish-born John Meloy, a master carrier from Glebe.
{yoogallery src=[images/stories/2013/10/11/war]}
'Kirkoswald' 22 Warrawee Avenue, Warrawee
These days, property listings are more likely to mention Lady Gaga’s attendance at a property - to wit, Moebius House, the Dover Heights residence as yet unsold.
Of course, Dame Nellie’s enduring association is the famous Peach Melba dessert. I recall seeing the dessert featured on an original 1890s menu displayed in a museum at Villeneuve-Loubet, a village in the South of France. This museum celebrates Auguste Escoffier, the king of celebrity chefs who created many famous dishes.
In 1893, while working as a chef at the Savoy in London, Escoffier invented Pêche Melba in honour of the Australian opera singer, and four years later he devised Melba toast. Nellie often ate at Escoffier’s restaurants while performing in Covent Garden during the late 1890s and early 1900s.
 
<img height="225" width="150" src="/images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" style="float: left;">SHE SAID: YES, OF COURSE
Dame Nellie Melba is more current than ever. Only this week her name was splashed across London following her appearance (played by Dame Kiri Te Kanawa) in the latest episode of Downton Abbey’s season four. Last month about 10.5 million people tuned in to watch the season four launch of the popular television series.
Rupert Christiansen, the opera critic of The Telegraph in Britain, noted Melba’s enduring notoriety this week. But his column gave the writers of the television series a serve by noting: “Downton Abbey got Nellie Melba all wrong. Confined to her room with a cup of tea and treated by Carson as though she was a visiting tradesperson during her visit to Downton Abbey? The real Dame Nellie Melba wouldn’t have tolerated such treatment for a nanosecond. In 1922, she had enjoyed 30 years of being received as a social equal by crowned heads and aristocrats throughout Europe, and she would only have sung at a private party as a personal favour to her host. Melba was nobody’s hireling: she called all the shots, and the Granthams and their staff would have quaked at her approach.”
With the number of expats living in London, who could be watching Downton Abbey while searching on the internet for a mansion back home in Australia, it may be a good idea for <a target="_blank" href="https://www.mcconnellbourn.com.au/buying/NSW/North-Shore-Upper/WARRAWEE/House/1P2507">McConnell Bourn </a>agent Carole MacRae to amend her advertisements for Kiroswold at Warrawee. Certainly worth adding Dame Nellie Melba’s association to the marketing of the mansion which sits on 2,640 square metres with verdant gardens, a tennis court and swimming pool.
Of course, Kirkoswald is not the only mansion connected with Melba. The immensely wealthy operatic superstar’s longest association with a Sydney property is Rose Bay’s Fernleigh Castle.
Melba rented Fernleigh Castle initially at 30 guineas a week in 1911, and seemingly stayed for two years. But the prima donna’s tenancy, like her life, was not without incident. An uproar ensued after Melba had trees chopped down to improve her harbour view from the circa 1892 sandstone mansion.
During the First World War, Melba worked tirelessly on singing tours of Australia to raise money for war charities - about £100,000, a vast sum at the time. In recognition she was made a Dame Commander of the Order of the British Empire (DBE) in March 1918 “for services in organising patriotic work”.
Other homes Melba is known to have sung at include:
·     Katoota in Avenue Road, Hunters Hill, Sydney
·     Moombara, a former vice-regal residence at Port Hacking, Sydney
·     Amanbah House at Maitland (Hunter Valley NSW)
·     Coorah at Wentworth Falls (Blue Mountains NSW)
·     Como in South Yarra, Melbourne
In her twilight years, <a target="_blank" href="https://warrenfahey.com/fc_nsw-manar5">Dame Nellie had a Sydney bolthole at Manar, a gracious apartment building at 42 Macleay Street, Potts Point.</a>
Coombe Cottage at Coldstream, a small town situated at the gateway to the beautiful Yarra Valley and about 50 kilometres east of Melbourne, was her home. The property is now owned by her great-grandsons, Lord Samuel Vestey and the Hon. Mark Vestey.
Born Helen 'Nellie' Porter Mitchell on 19th May 1861, Melba was the first Australian to achieve international recognition as a classical musician. In later life she set up a music school at Richmond which she merged into the Melbourne Conservatorium.
 
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jchancellor-FAypfDUnLy

Is there still cache in selling a home where Dame Nellie Melba once sang? He Said/She Said

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Another of the Richmond cottages from the 2011 series of the Channel 9 renovation show, The Block has come onto the market. <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/43-cameron-street-richmond/Property-Details-buy-residential-6145815">It's the renovated three bedroom terrace of Rod and Tania</a>.
Our contrarian property commentary couple, Jonathan Chancellor and Margie Blok look at the merits of buying 43 Cameron Street, Banstead Cottage.
{yoogallery src=[images/stories/2013/10/04/rich]}
HE SAID: CAUTION<img height="225" width="150" src="/images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" style="float: right;">
It will be interesting to see how this listing performs as while there's been nice recent strong price growth just three along, this one looks a bit trickier to gauge.  
It was only a few weeks ago the dearest home in the 2011 Block Richmond renovation series resold for the first time. 
It was the three bedroom 37 Cameron Street Richmond cottage renovated by Josh and Jenna who had a $950,000 Block 2011 auction reserve.
Their Edwardian cottage sold under the television bright lights for $1 million. Its recent auction price guidance was $1 million plus. And it fetched $1,147,500.
Rod and Tania's auction reserve was $850,000, and while it didn't sell on the day, the couple's handiwork secured an ensuing $922,000 sale at an impromptu Jellis Craig onsite auction attended by six parties.
Just one of the interested parties had been at the auction, with the other five having only seen the property passed in on television. <a target="_blank" href="https://www.propertyobserver.com.au/victoria/take-two-auction-frenzy-as-only-one-offering-left-on-the-block/2011082351266">I called it an auction frenzy</a>.
It's now been listed by a Melbourne investment couple.
The current marketing for 43 Cameron Street has the price estimate as $900,000 plus. 
RP Data suggests the median Richmond house price sits at $773,000 which is down on the $800,000 median around the time of the 2011 auction, so best any interested parties don't get carried away in a mix of Block afterglow and Melbourne's current price spike. 
<img height="225" width="150" src="/images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" style="float: left;">SHE SAID: CAUTION
Ignore all the fun the hit television series generated and just figure out its fundamentals.
Especially if you are an investor because the rental returns have been diminishing over the past two years.
Indeed the neighbouring cottage recently became available for rent again and the investor was set to get even less return on the initial $860,000 outlay. It was Katrina and Amie's house at 41 Cameron Street which was listed at $950 a week shortly after the big 2011 auction and then next became available for lease at $895 a week. 
The indicative gross rental yield for <a target="_blank" href="/news" title="Richmond">Richmond</a> houses is an ordinary 3.8%, according to RP Data.
Another Block cottage was offered - at 39 Cameron Street - with a weekly $1,250 asking rent after the 2011 auction and then a year later at $1,000 a week.
Ofcourse there are good tax depreciation prospects, but be sure to get a building inspection report before its October 26 auction.
And don't forget to check out the impact of the Coles Property Group's 11 storey redevelopment of Richmond Plaza - it includes the carpark just across the road from the front facade of Banstead Cottage.
Nothing much in the metropolitan press since it was first mooted after the television series in late 2011, but I see the VCAT approval came through not so long ago for the 12,840 square metre site.  
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The latest Block Richmond cottage offering: He Said/She Said

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As the front covers of property investment magazines attest, many younger investors have done well by choosing to invest in the property market.
McGrath Real Estate boss John McGrath advises that provided you can afford it, you should get involved in property at a young age.
According to McGrath, over the long term property is a very “safe and stable asset class that will become your most valuable financial investment for the future.”
While it is the most expensive asset class, he says there are capital gains exemption on family homes and negative gearing on investments that can lighten the load.
Other reasons to consider investing now include very low interest rates and improved housing affordability.
There is also the opportunity to be a renter-investor– rent in a desirable area close to the city, shops and nightlife and buy a more affordable investment property further out of the city.
Young investors could also consider buying with friends or family.
<hr>
This article is fromProperty Observer's free ebook <a href="/guides/free-ebook-top-10-property-investment-tips">Top 10 Property Investment Tips</a>
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You are never too young to start investing

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Are great property investors born or made?  
If you’re like me you were told from very young age that if you want to succeed at something – be it sport, school or a musical instrument – that you must put in time, hard work and importantly, practice.  
Most of us learnt our times tables by repeating them over and over – practicing multiplication was the most effective means of learning this skill.  
Well the same applies to property investment. Successful property investors are not born with a “how to” manual and they certainly don’t rely on luck.  
Fact is one of the big differences between the athletes, musicians and business people who excel in their chosen field, compared to the “average Joe” is in the years of practice they dedicate to honing their craft.  
And this also applies to property investors.  
Successful property investors understand that to be good at what they do – creating wealth with real estate – they must learn the rules, gain experience by “doing it” and then improve by refining how they do it.  
Training for investment success
In his book Outlier, Malcolm Gladwell noted that in most occupations where complex cognitive and motor skills are required – such as performing complicated surgery or playing the piano – experts in these fields have had an average 10,000 hours of training.  
The key is being able to eliminate all the “noise.”  
You need to be able to chunk down all the information available into usable bite-size pieces through a finely honed retrieval system that can quickly screen out irrelevant options given the specific situation.  
This skill comes from familiarity gained by “doing it.”  
It’s like top tennis players who through experience have developed a sense of where a ball is likely to be served by unconsciously noting the subtle changes in the stance of their opponent.  Or the champion cricketer who seems able to anticipate where a ball will be bowled even before it has left the bowler’s hand.  
It’s the same type of perspective that gives seasoned property investors an edge over the average investor.  
Think about it…  
Having lived and invested though five property cycles means I don’t get carried away by all the property naysayers and doomsday merchants that seem to concern many other investors.  
I’m not an eternal optimist. I’ve just seen it all before.  
Consistency is key
No matter which investment strategy you select, be it capital growth or cash flow, renovations or property development; you’re likely to find that a small group of investors, say 10% do really well and the rest struggle.  
Rather than jumping from one shiny thing to the next like the average investor, these successful investors do the same things over and over again.  
They set their goals, map their course and then keep doing what works, refining their skills along the way.  
By sticking with a tried and tested strategy, these investors know how to navigate any tricky bumps in the road and become accustomed to seeing the opportunities and potential earning power in market movements.  
This means their success depends on them and the skills they have refined throughout their investment journey, rather than on the market place.  
But that’s not how most beginning investors do it.  
They want to climb the property ladder all the way to the top and nothing will stand in their way.  
They start using the latest fad from some get rich quick seminar, buy their first investment and then look for the next big way to make millions. And thus begins a cycle of jumping from one bandwagon to the next.  
However we know most investors never achieve financial freedom. In fact most never get past their second property.  
This is in part because they have never refined their real estate strategy and taken the time to learn the rules of the game, so they inevitably fall at the first hurdle and more often than not, call it quits before they make any progress at all.  
That’s why around 20% of those who buy an investment property sell up in the first year and around 50% of those getting involved in real estate investment sell up in the first 5 years.    
So when will I become an expert?
The way to become an expert is to do one thing a hundred times, rather than 100 things once.  
Yes practice makes perfect, which means that rather than looking for the “one big deal that will make you rich quickly”, you should start your investment journey gently, knowing that you’ll make mistakes along the way and learning from these will make you a better investor.
 
Before you panic about having to commit 10,000 plus hours to property investment before you can call yourself an “expert”, let me assure you that there are ways to speed up the learning process in real estate.  
The simplest is to find a mentor who has already achieved what you want to achieve and let them guide you.  
Study how they think, because it’s likely a large part of their success comes from their mindset.  
Then emulate their successful behaviours and learn from the mistakes they made in order to advance your own skills and refine your own strategies.  
How will you know when you’re an expert?  
The main thing that separates the successful investor from the wannabe’s is an ability to consistently outperform the averages.  
And yes, to get to this level of expertise, takes time, patience and practice.
 
<hr>
 Michael Yardney is a director of <a rel="nofollow" href="https://www.metropole.com.au/">Metropole Property Strategists</a>.
 
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myardney-DFoGhGbSJX

Successful property investors put in time, hard work and importantly, practice: Michael Yardney

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Deborah West of SydneySlice Executive Rentals shares her top tips for investment property owners:
Get landlord insurance: Landlord Insurance provides a range of protections that are not covered by standard home buildings and contents insurance.
Depreciation: Investors are often unaware of the tax deductions available through property depreciation. Negative Gearing: Make sure you claim all expenses, for example if you are living overseas you maybe can claim the cost of an airfare to inspect your property.
Review rent annually: Increase your rent by small amounts annually depending on the market.  Small increases every year ensures your tenants don’t get a big shock and leave.  Also means they get used to the increase annually. 
Time lease ends: Time lease end dates to be at times in the year when there is the most demand.  Usually around September-November or February-April. Try to avoid a your Lease ending in December or early January.
Maintenance: Regular maintenance will add value to your investment and ensure you get top rent.
Review your loan: Make sure you are getting the best interest rate.
Consider pets: If you can allow pets in your property some pet owners will be happy to pay a premium for this benefit. Just make sure you have pet clauses included in your lease.
 
<hr>
 Deborah West is joint principal and founder of <a href="https://www.sydneyslice.com/" target="_blank">SydneySlice</a> and a licensed estate agent.
 
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Top tips for investment property owners

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If you are buying off-the-plan, it is vital that you research the background of the developer and their track record.
Have there been court actions against the developer?
Do they have a history of delivering what has been promised and settling disputes quickly and neatly?
“Banks are strict on who they lend to. Banks also look for a good track record before handing over construction finance,” says Tim Rees, director of CBRE Residential Projects.
The internet is a good tool for research and look for blogs and newspaper articles. Do not judge a developer solely by its website and ensure there is an office where you can meet people face to face.
Also talk to friends, family, work colleagues or any people you know who have bought homes in previous developments off-the-plan.
Bad feedback about a vendor should ring alarm bells, while good reports are certainly worth remembering.
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Buy off-the-plan from a reputable developer

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Institutional and investor appetite for retail assets shows no sign of fading, with more than $450 million worth of shopping centre deals around the country believed to be close to being finalised or just completed. 
Mirvac Group is close to finalising its purchase of the Harbourside Shopping Centre in Sydney's Darling Harbour in deal believed to be worth more than $255 million. A source told Property Observer that the deal could be finalised as soon as next week.
The three level retail and entertainment centre was listed for sale by Suntrack Holdings, a company owned by developer John Beville. Suntrack reportedly paid $127 million for the property in 2004.
Selling agent Stonebridge Property Group declined to comment.
In a separate deal, Raptis Investments have purchased the Inala Plaza shopping centre for $32.350 million. The sub-regional centre, located south?west of Brisbane's CBD, was sold on a passing initial yield of 11.5%.
The centre is anchored by supermarket retailers Woolworths and Coles and supported by two mini major tenancies and 60 specialty tenancies. The sale was negotiated by Jonathan Fox and Carl Molony of Stonebridge Property Group, on behalf of the vendor 360 Capital.
Speculation has also emerged that potential suitors for Harbour Town Perth have entered the second round of negotiations. At least two offshore parties, one from Singapore, are said to be having a hard look at the outlet shopping centre.  Colonial First State could also be among the interested parties. The price is believed to be around $165 million plus.
Expressions if interest for Harbour Town Perth closed in 26 September.
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