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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Our tweet of the day today comes from @faisalislam who tweeted out this picture of a sign in Kuala Lumpur for Stratford flat roadshow.
"A brand new fully private luxury development," the sign says. With the addition "with no social housing".
<blockquote class="twitter-tweet">
Actual "no social housing" sign in Kuala Lumpur for Stratford flat roadshow: developer paid £1m for offsite <a target="_blank" href="https://t.co/PqWhAQMg7i">pic.twitter.com/PqWhAQMg7i</a>
— Faisal Islam (@faisalislam) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/faisalislam/statuses/382939546825936896">September 25, 2013</a>
</blockquote>
We can't help but imagine the reactions if a similar sign was presented in Australia.
The UK's London Evening Standard reports that flats at Capital Towers, with two-bedroom homes starting at 321,000 pounds, has <a target="_blank" href="https://www.standard.co.uk/news/london/advert-for-new-stratford-homes-sparks-no-riff-raff-row-8826336">sparked a bit of outrage</a>.
"It’s unbelievable that 191 luxury apartments in Stratford are being advertised to millionaires in Kuala Lumpur with the promise they’ll never have to rub shoulders with the hoi polloi. Is this really what our Olympic legacy is about?" Darren Johnson, Green Party member on the London Assembly, was reported as saying.
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po-LsXgBTHBmX

Luxury development advertising "no social housing"

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Home buyers are not only encouraged to pay for a professional building and pest inspection report, but also to consider negotiating with it.
With recent claims of a <a target="_blank" href="https://www.propertyobserver.com.au/news/a-third-of-properties-unsafe/2013092265185">third of properties being unsafe</a>, and Archicentre also seeing around 30% of properties with a major flaw (see infographic below), some of these properties may still present an opportunity.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/09/26/infographic-sept-27-big2.jpg" title="Click to enlarge"><img src="/images/stories/2013/09/26/infographic-sept-27-small.jpg"></a>
Director of Consumer Affairs Victoria, Claire Noone, urged buyers to undertake a pest and building inspection as in some cases major faults may be indicated. This may include issues with the sub-floor and roof structures, or termite damage.
 Some properties will be worth avoiding altogether.
“If you’re highly motivated to buy a property, getting a professional building or pest inspection can be one of the final stages in researching the home before you buy,” Noone said.
“The fee for a professional inspection service can be small when compared with the cost of buying a property that needs extensive, unforeseen repairs," she said.
“You may also be able to use the report to negotiate the price and conditions in the contract.”
Investors and home buyers wishing to use a building and pest inspection for potential negotiation should include <a target="_blank" href="https://www.propertyobserver.com.au/residential/the-importance-of-building-inspections-in-property-transactions-tim-mansfield/2012052054762">relevant clauses in their contract</a> to allow it to be conditional for this inspection to take place.
A building inspection typically lists any faults, whether these can be repaired, and the potential cost. 
“Buyers negotiating a private sale can make the inspection report a condition of the contract,” Noone said.
“However, if you’re buying at auction you will need to consider whether you get an inspection beforehand – as you cannot make the contract subject to conditions, and you don’t get a cooling-off period to change your mind."
Full professional indemnity insurance is crucial for the inspection service you choose to use, ensure that they have this cover.
If your building and pest inspection has you confused, it might also be worth reading observer Jo Chivers' <a target="_blank" href="https://www.propertyobserver.com.au/renovating/how-to-read-between-the-lines-of-a-pest-and-building-report-jo-chivers/2012040454169">guide to reading between the lines</a>.
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jduke-EHk3XBmHkn

Renegotiate with your building and pest report

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Property investment is an investment for the long term. As Brendon Hulcombe, CEO of valuation firm Herron Todd White points out, there are too many costs and taxes in buying property to make a lot on short-term horizons.
It’s important that you’re wary of how things may change over an extended period of time, rather than just over the next 12 months.
This means researching the existing and evolving longer term trends and forces shaping a location and region such as price movements, rental yields, gentrification and the evolution of the suburb.
You should also be aware of the property cycle – whether prices in the location you may buy are falling, rising, bottoming out or peaking – and also if there is a different outlook for apartments over houses.
Ideally you should try and buy at the bottom of the cycle.
<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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Research longer-term trends

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We have a new candidate for the title of “worst real estate article of the year”. 
   Unsurprisingly, it appeared in Australia’s most dismal newspaper, The Daily Telegraph.   The headline claimed that <a target="_blank" href="https://www.dailytelegraph.com.au/realestate/families-give-up-on-great-aussie-dream-of-home-ownership-as-rental-trap-snaps-shut/story-fnhytr0n-1226724745610">families have given up on the “great Aussie dream”</a>. You can be fairly sure that when an article starts with that most tired of clichés, what follows is likely to be nonsense. The article did not disappoint.   It relied on another great cliché of journalism, that you never let the facts get in the way of a good story. This piece made a number of startling claims, but provided no evidence to support them.   It began with this statement: “An alarming number of Australian families are losing sight of the home ownership dream, being forced into long-term rental situations and struggling to provide security for their children.”   That’s a pretty big statement. I searched the article for information that backed it up, but there was none. No figures to support the “alarming number” claim. Nothing to justify the claim that large numbers of families are “struggling to provide security for their children”.   The second paragraph talked about “soaring property prices”. Again it didn’t provide any figures, which is a shame because I’d love to know where property prices have soared any time in the past three years.   The only markets that have achieved double-digit growth in any of the years since 2010 have been regional towns and cities, mostly those boosted by the resources sector. (Chinchilla in Queensland, for example, has averaged 10.8% annual growth in recent years, according to Australian Property Monitors figures).   The third paragraph says that “the situation is particularly severe in NSW”. Why? Apparently, because NSW has a third of the nation’s renters. Well, you would expect NSW to have a third of nation’s renters because NSW has a third of the nation’s population.   NSW is in line with national averages, whereby roughly a third of households rent and two-thirds own their homes, with or without mortgages. It’s been that way for a long time.   Paragraph six begins with this: “News that the home ownership dream is fading comes …” Really? What news that the home ownership dream is fading? Certainly it’s not contained in this article, which presents zero evidence to support the claim.   The article then moves on to blame the planning system for the crisis they say exists, but for which they have presented no supporting information.   Sensationalism at its worst and not one, not two, but three Telegraph writers interviewed their keyboards to come up with this pile of twaddle.   Yes, this anorexic article totalling 15 shallow paragraphs required contributions from three non-journalists. There was a triple byline, as if this was an epic of investigative journalism.   It was the antithesis of journalism, but sadly typical of print media’s coverage of real estate issues. No wonder the two major media organisations have been sacking journalists by the thousands recently. If this is the best three colluding writers can come up with, they don’t deserve their jobs.   So, I repeat <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/my-first-rule-for-successful-property-investing-stop-reading-newspapers-terry-ryder/2013091865120">my comment from last week</a> on Property Observer. If you want to be informed about real estate, stop reading newspapers and start looking elsewhere for information.
 
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 Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/" rel="nofollow">hotspotting.com.au</a> and you can contact Terry via <a href="https://mailto:%20ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>.
 
 
  
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Claims that the "great Aussie dream" of home ownership is dead are pure sensationalism: Terry Ryder

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The property market is on the rise and so is the inner city building boom. As off-the-plan apartment sales attract investor attention what does that mean for existing property price potential?
It can mean everything and nothing.
By ‘everything’ I mean that the increase in brand new apartments coming onto the market could obviously potentially decrease the value of existing property in the area. It isn’t a great story to be telling as a real estate agent but it’s undeniable that many people will say "why buy an old one if there is a brand new one available?"
That’s the obvious and worst case scenario. It’s the concern I’ve encountered regularly when talking to investors whose property we manage in and around Pyrmont in particular. Should they get out now?
My response is that new apartments could also mean ‘nothing’ to the value of existing property.
It’s important to remember the apartment building boom is a reaction to carefully calculated and evaluated prospective growth in demand. That means demand for new apartments will not automatically cancel out demand for those already built.  Also, for existing properties in Pyrmont and the CBD significant value is invested in their prime location which will not decline.
It means there will be more choice but the anticipation is there will be more people looking.
My advice to landlords is to ensure their property is well maintained so it remains competitive in both in the rental and sales market.  It can be more cost-effective to undertake smaller, regular upgrades to keep fixtures and fittings top class and top quality.
I suppose what I am saying here is the shiny new play thing might capture a lot of attention but don’t underestimate the inherent value of elegance and sophistication; virtues that increase with age.
 
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 Ewan Morton is managing director of the Sydney based <a target="_blank" href="https://www.mortonandmorton.com.au/" rel="nofollow">Morton &amp; Morton</a>.
 
 
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Inner city building boom will not automatically cancel out demand for existing properties: Ewan Morton

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A parcel of commercial assets formerly home to the south-east corridor campuses of a federally-funded trade training college in Western Australia's Armadale and Maddington have been put on the sales block.
The portfolio, which is being offered separately or in one line, comprises of two warehouses and an office in Armadale and a purposes-built training facility in Maddington. They are being offered for sale or lease on behalf of Australian Trades College (WA) receivers and managers Grant Thornton.
The Maddington property, at <a target="_blank" href="https://rca.colliers.com.au/property-industrial+warehouse-wa-maddington-500878743" x-apple-data-detectors="true" x-apple-data-detectors-result="17">10 Alloa Road</a> (pictured below), comprises 806 square metres of administration and classroom facilities and two workshops totalling 1,132 square metres on a 10,924 square metre site.
{yoogallery src=[images/stories/2013/09/25/mad]}
In Armadale, three separate lots, at 41, 43 and <a target="_blank" href="https://rca.colliers.com.au/property-offices-wa-armadale-500875051" x-apple-data-detectors="true" x-apple-data-detectors-result="18">45 Commerce Avenue</a> (pictured below), are offered on two titles over a combined total land area of 5,264 square metres. The assets comprise a 2,175 square metres warehouse with basement car parking, a 688 square metre office building and an 880 square metre warehouse. One of the warehouses is currently leased to Polytechnic West, formerly known as Swan TAFE.
{yoogallery src=[images/stories/2013/09/25/arm]}
Colliers International director of metropolitan markets, Nicholas Agapitos said both the Maddington and Armadale assets presented real opportunity for potential buyers or tenants. Mr Agapitos is marketing the portfolio of assets.
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Former Australian Trades College (WA) asset portfolio to be parceled off 

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A local private investor has purchased a fitness centre in Adelaide's inner suburb of Hindmarsh for about $7 million.
The 233 Port Road centre was purchased from Bantry Developments and Aretzis Properties on a net yield of 8.6%. The property is currently leased to Goodlife Operations Pty Ltd - a subsidiary of Ardent Leisure Ltd - under a 15 year lease.
Constructed in 2008, the 2,223 square metre centre was sold through selling agent Lukas Weeks of Jones Lang LaSalle.
Mr Weeks commented that the property was sold two weeks prior to the close of expressions of interest.
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Local investor pays $7 million for Hindmarsh fitness centre

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National automotive and hardware tool wholesaler, Kincrome Australia Pty Ltd has signed a two year lease in Melbourne's south-eastern suburb of Noble Park.
Kincrome agreed to a two year lease with a two year option at about $240,000 per annum gross plus GST and CPI increases.
The 21-23 Summit Road property comprises a 3,458 square metre office and warehouse facility including a 10 metre height, clear-span warehouse component.
Savills Notting Hill office director Lynton Williams brokered the deal.
Mr Williams said Kincrome had required additional warehousing space to satisfy the overflow from its warehousing/distribution centre, head office, at nearby Caribbean Gardens in Scoresby.
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Kincrome coming to Noble Park

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Cleanaway, a subsidiary of waste management company Transpacific Industries Group, has secured a 10-year lease with Walker Corporation for a purpose built recyclable waste transfer station in Canberra's Monaro Industrial Park.
The facility valued at $5.5 million will include a 4,200 square metre warehouse and 225 square metres office, purpose built by Richard Crookes Constructions. It is expected to be completed next month.
Cleanaway joins the likes of Allied Pickfords, Grace Records Management and Toll Ipec to the estate.
Monaro Industrial Park is one of Canberra’s first master plan industrial estates and is located 13 kilometres south of Canberra's CBD.
The 30-hectare estate is located in the industrial hub of Hume, and is said to provide a flexible and cost effective alternative to Canberra's older areas of Fyshwick and Mitchell.
Cleanaway plans to use the site for its operation of a waste transport depot, which will service Canberra and the greater Australian Capital Territory when they relocate to Monaro from their current location at Alderson Place.
In addition to the Cleanaway facility, seven 120 square metre architecturally designed strata units with mezzanine offices are being built at the Monaro Industrial Park. The stand-alone industrial zoned units will be offered for sale or lease in the fourth quarter of 2013.
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Cleanaway secure 10-year lease at Monaro Industrial Park

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The southern end of the Sydney CBD is set to become the location for a new major commercial office development, with some big corporate names already believed to be circling.
Joint venture partners Frasers Property Australia and Sekisui House Australia have released their A-Grade commercial offering at the $2 billion Central Park development on Broadway.
The 26,000 square metres building, to be known as ‘100 Broadway’, is located on the corner of Abercrombie Street and Broadway and sits within the country’s largest “knowledge precinct” - UTS, Sydney University &amp; Notre Dame University. 
It is understood several blue-chip companies are considering Central Park, which is said be particularly appealing to IT and professional services companies. One source said the project was attracting companies looking to attract future talent.
The joint venture partner is targeting net rents of around an average of mid $600s per square metre.
Frasers Property Australia chief executive Guy Pahor said 100 Broadway was "at the epicentre of what will soon be Sydney’s most dynamic urban quarter".
Designed by internationally renowned architects Foster + Partners, in conjunction with Australian architects PTW, 100 Broadway is said to boast Sydney’s most efficient floor plates (2100 square metres), along with impressive environmental credentials, such as its connection to Central Park’s central thermal plant and tri-generation facility.
Mr Pahor said 100 Broadway would draw its power from the precinct’s 2MW gas-fired tri- generation facility operating in tandem with electricity sourced from the grid.
“This means that tenants will have access to alternative sources of power, which translates into a high level of power source security and reliability – a critical requirement for many tenants, especially those with high-density IT demands”, he added.
CBRE have been appointed leasing agents of the project. Construction is due start to in 2014 with completion in early 2016.
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