Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.

Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.

The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.

<a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.

The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.

The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" />

Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.

The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.

The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.

The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.

Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" />

The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.

Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.

Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.

The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.

<img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" />

Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.

The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.

Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.

The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.

The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history

Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.

55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.

The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.

[smartcode_project:default project_id=152579 project_image_fid=376250]

55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.

Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.

The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.

[smartcode_project:default project_id=152579 project_image_fid=376253]

At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.

The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.

A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.

Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.

&nbsp;

&nbsp;

The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.

Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.

“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.

55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.

Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.

[smartcode_project:default project_id=152579 project_image_fid=376252]

Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.

The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.

55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.

[smartcode_project_cta:default project_id=152579]

Fortis continues eastern suburbs push with 55 William launch

UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.

Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.

The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.

It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.

Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.

A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.

The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.

It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.

Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.

“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.

“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”

Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.

“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”

The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.

Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.

The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.

Arada plots $2 billion Broadbeach towers in major Queensland move

Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.

Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.

Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.

“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.

“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”

It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.

[smartcode_project:default project_id=135149 project_image_fid=377495]

For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.

Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.

Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.

[smartcode_project:default project_id=135149 project_image_fid=377494]

“These buyers still want their home to feel generous,” Porter says.

“They may want less maintenance, but they are not looking for less life.”

The challenge for the broader housing market is providing enough of the right stock to encourage that move.

While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.

Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.

“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.

“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”

It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.

<h2>Lillian targets the next stage of apartment buyer</h2>

It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.

Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.

The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.

[smartcode_project:default project_id=135149 project_image_fid=377688]

McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.

For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.

“People should be able to change the type of home they live in without having to change their entire life,” he says.

“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”

[smartcode_project:default project_id=135149 project_image_fid=377687]

Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.

Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.

Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.

[smartcode_project_cta:default project_id=135149]

From downsizing to right-sizing: What Sydney buyers want from their next home

Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.

<a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.

Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.

[smartcode_project:default project_id=134873 project_image_fid=376196]

Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.

Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.

At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.

[smartcode_project:default project_id=134873 project_image_fid=376194]

The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.

Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.

Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.

[smartcode_project:default project_id=134873 project_image_fid=376181]

Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.

Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.

Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.

[smartcode_project_cta:default project_id=134873]

The Maybelle brings 27-storey parkside tower to market near North Strathfield

First Home Buyers

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I wonder what media is going to do with the latest admission from the Australian Bureau of Statistics (ABS) that it has been grossly under-estimating the number of first-home buyers in the market.
On Wednesday this week, the ABS posted an update on its "investigation to evaluate the robustness of estimates of loans to first-home buyers".
The investigation, it said, found that "some lenders experience difficulty reporting on loans where the buyers does not receive a first home owner grant".
This, as I pointed out in my column earlier this week (and commented throughout last year, as did other writers on Property Observer), is the nub of the matter. The ABS collects data from the banks on home loans, and the method of identifying a loan applicant as a first-home buyer has always been their application for the first home owner grant.
If the applicant does not apply for a grant, the system does not identify them as a first home buyer.
Since state and territory governments across Australia stopped providing grants for established properties, the number of grant applications has dropped significantly. The research shows that most first-time buyers opt for an established home (cheaper, usually with more land and often better located) over a new home – and therefore most first-home buyers are no longer receiving grants.
The banks no longer record them as first-home buyers.
Because of the under-estimation of first-home buyers, the ABS statistics on home loans have given the appearance that first-time buyers have almost vanished from the market.
Media has leapt on this as a recurring headline, giving rise to claims that young Australians have been priced out of the market – and then, as a natural progression, generating witch hunts to find someone to blame for the situation. Negative gearing benefits to local investors and the activity of foreign investors have been popular targets.
There have been thousands of articles written in the past 12-18 months about the demise of the Great Australian Dream, all based on a fundamental falsehood, created by the ABS miscount of first-home buyers.
It's a damning indictment on journalistic standards in this country that so few have picked up on this. Nobody thought to investigate. No one asked the most basic of questions. Media rushed en masse to the cheap and easy headline – the dream is dead because young Aussies can't afford to buy.
It took a simple phone call from my office in mid-2014 to extract an admission from the ABS that their figures on first-home buyers were wrong – and why they were wrong.
Just how wrong was demonstrated by the recent NAB survey which found that 25% of established homes sold are being bought by first-time buyers and that 24% of new homes are bought by first-timers.
Journalists and editors across Australia should be hanging their heads. But you can be sure none of them will. Nor will the many economists, analysts and commentators who have seized on the ABS figures to justify their attitudes on real estate issues (such as those with an anti negative gearing stance or those opposed to foreign investment in Australian real estate).
"Users are advised to exercise caution in using this data," the ABS said on Wednesday. That warning has come at least 12 months too late. Not that it will make any difference to some.
I would bet my house that next week there will be more articles in major newspapers repeating the fiction that first-home buyers are at an all-time low. And the week after. And six months from now. People won't let the facts get in the way of an entrenched attitude or an easy sound byte.
"ABS and APRA will continue to work with lenders to improve data quality," the ABS said this week. "In the meantime, from the December 2014 issue (to be released on 11 February 2015), estimates of loans to first home buyers will include an adjustment for under-reporting of loans where the buyer did not receive a first home owner grant.
"An Information Paper will be released on the ABS website on 4 February 2015 explaining changes to the method of estimating first home buyers' data and the extent of revisions.   The ABS will continue to update the method as lenders progressively improve their reporting."
Too little, too late. Australia is awash from misinformation on the real estate industry and the most extreme example has been the first-home buyer miscount and all the column inches of inaccurate comment and posturing it has generated.
Terry Ryder is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>.
Terry will be participating in a webinar on 'The Best and Worst for 2015: Top 5 Hotspots and 5 Places to Avoid' on 3 February.
Click here to <a href="/news">register now</a>.
 
 
 
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terryryder-YECXbqmri2

First home buyers are still here, but good research has gone missing: Terry Ryder

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A NAB survey of residential property markets provides further evidence that media reporting of first home buyer activity is bunkum.
The NAB survey finds that 25% of established homes sold are being bought by first time buyers and that 24% of new homes are bought by first timers.
Some media outlets reported those figures rather nonchalantly last week, without realising the great significance of them. They make nonsense of the data published by the Australian Bureau of Statistics (ABS), which suggests that first home buyers (FHBs) are as low as 10% of properties sold.
That ABS figure is held up repeatedly by commentators and journalists as justification for the claim that the 'Great Australian Dream' is dead, that we have an affordability crisis and that everyone from local investors to Chinese buyers are to blame for pricing FHBs out of the market.
It has also helped to generate a lengthy, expensive and totally pointless federal government inquiry into the so-called housing affordability crisis. That inquiry, which has been exploited by some politicians as a vehicle for grandstanding and career advancement, is based on a lie: that FHB activity is at an all-time low and it’s all because they can’t afford to buy.
The NAB is right and the ABS is wrong. First time buyers are out there as busy as they ever were. The ABS has been publishing a miscount – and, what’s more, it knows it. It has <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/5609.0" target="_blank">admitted that its data on first home buyers is suspect</a>.
I’ve explained why a number of times in this column and so too have other writers on Property Observer. The elimination, by most state and territory governments, of FHB grants for established housing (they now provide grants only for new dwellings) means most FHBs are not being counted any more because they’re not applying for grants.
They’re out there buying but are no longer identified as first timers in the ABS statistics.
Now the NAB survey has put some realistic numbers on first time buyer activity. Its survey suggests that, for established housing, 16% of buyers are first home owner occupiers and 8% are first home investors. For new housing, 16% are first home owner occupiers and 9% are first home investors.
First home investors are those who opt to buy an investment property, rather than a home, as a first purchase. Commonly, these are people who prefer to rent in their suburb of choice and buy an investment property in a cheaper area.
This really is a top story for an alert journalist. All the clamour about an affordability crisis and first time buyers disappearing is a furphy, based on a miscount. But most newspapers won’t write the real story because they’re addicted to the “Great Australian Dream is dead” storyline. Sad.
For the record, the NAB survey also finds that overseas buyers are 9% of buyers of established housing and 15% of buyers of new dwellings (mostly inner city apartments).
This puts into perspective those hysterical claims that foreign investors are somehow dominating our markets and pricing poor young Aussies out of the market.
TERRY RYDER is the founder of <a href="https://hotspotting.com.au/">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or contact him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>.
Terry will be participating in a webinar on 'The Best and Worst for 2015: Top 5 Hotspots and 5 Places to Avoid' on 3 February.
Click here to <a href="/news">register now</a>.
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Great Australian Dream is alive - first home buyer stats debunked: Terry Ryder

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It’s a new year and unsurprisingly home buyers are gearing up to get back into the market looking for a property to buy.
Here are five tips for all home buyers looking to get on the ladder this year.
Pre-approval
If you’ve stopped looking since the close of 2014 then you may be through, or close to, the end of your pre-approval period (or you may not have obtained one yet). While a pre-approval isn’t the same as an actual loan, it will give you the peace of mind to have a guide to what you can actually borrow.
Here’s a <a href="/expert-insights/finance/a-quick-guide-to-home-loan-pre-approval">quick guide to home loan pre-approval</a>. 
Ensure you can afford the repayments
Getting pre-approval for a loan is one thing, but are you sure you can actually afford to repay the amount required each fortnight or month? It’s critical to go through your finances, especially in the new year when changes may be planned, to consider whether different circumstances may lead to hardship later on. Be honest with yourself about your job plans and general stability. It may be worth practicing putting the money aside for repayments to ensure you have the discipline to pay back the loan.
To prepare yourself for debt, here are <a href="/expert-insights/buying/preparing-yourself-for-debt-10-things-to-do-now-to-make-home-ownership-easier">10 things that you can do to make it easier</a>.
Research
If "research" isn't a message that's drilled into you yet, then you may not quite be ready. Research is important! Understanding what properties are worth in the market you are considering, knowing how to negotiate with private treaty sales or the process for bidding at auction – all of this is critical if you want to purchase well.
You can read here the <a href="/expert-insights/how-we-research-when-property-buying-realestateview-com-au">techniques that other buyers tend to use when researching property</a>.
For those still looking for an area, the Finding section will come in handy.
Due diligence
Many of our <a href="/expert-insights/buying/10-first-time-buyer-mistakes-and-how-to-avoid-them">top 10 first home buyer mistakes and how to avoid them</a> are as a result of being rushed or not understanding what is considered due diligence.
Remember, you want to make sure that you purchase a property with open eyes, aware of the nature of the asset and ready for any necessary improvements.
Usually, there are three main things to consider: ensuring the home is structurally sound, undertaking the correct legal checks on the contract so you know what you’re buying and ensuring that you are able to pay a fair price.
If you’re not sure on what counts as due diligence, here’s <a href="/expert-insights/what-is-due-diligence-investment-terms-explained">a quick two minute explanation</a>.
Know your limitations
Lastly, it’s something many of us are poor at – knowing our limitations. While,  it can be easy enough to determine your financial limitations after speaking to a broker, knowing your personal limitations can be harder.
Will you truly be able to commute that far?
Is renovating the home DIY-style really in your skillset?
Can you really put up with not having a car space?
Ask yourself the often uncomfortable questions to ensure that you’re not convincing yourself into the purchase.
What tips do you have for budding first home buyers?
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jduke-EHk3XBmHkn

Five tips for those buying their first home in 2015

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In the Northern Territory, the First Home Owners Grant (FHOG) is now only available for first home buyers entering into contracts to construct or purchase a new home.
As of 1 January, Northern Territorian first home buyers will only be able to access the grant if they purchase new, providing them with a $26,000 cash incentive to construct their own dwelling.
The NT Department of Treasury and Finance notes that this is to encourage the construction of dwellings.
There is no threshold on the value of the new home purchased, with first home buyers able to buy properties exceeding the previous $600,000 limit applied to established homes.
The FHOG is not means tested.
This brings the Northern Territory in line with the majority of other states and territories that do not offer a grant for established home purchases. Many, such as South Australia, phased out their established property FHOGs in mid-2014. Western Australia still retains a modest grant, of $3,000, for eligible first time buyers purchasing established homes.
Those claiming the Northern Territory FHOG must live in the property for a period of six continuous months within 12 months of the completion of the home.
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FHOG restricted to new homes in the Northern Territory

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It's now <a href="/expert-insights/buying/10-extra-months-needed-to-save-for-sydney-first-home-deposit-in-2014-bankwest">taking first time buyers even longer</a> to save for a home, as price growth in some areas makes the time to save a 20% deposit rise ever higher.
Bankwest's First Time Buyer Deposit report explains how long it takes from state to state.
<ul>
<li>New South Wales: 4.8 years (If looking at Sydney, this is at 6.7 years) </li>
<li>Victoria: 4.4 years (if in Melbourne, this increases to 5.5 years) </li>
<li>ACT: 4.0 years </li>
<li>Northern Territory: 4.1 years (In Darwin, this spans to 4.2 years) </li>
<li>Queensland: 3.8 years (4.1 years for Brisbane) </li>
<li>Western Australia: 3.7 years (For Perth, 3.9 years) </li>
<li>South Australia: 3.3 years (For Adelaide, 3.6 years) </li>
<li>Tasmania: 2.7 years (For Hobart, this increases to 3.3 years)</li>
</ul>
For more findings from the report, including the 10 LGAs where saving is quickest across the country, <a href="/expert-insights/buying/10-extra-months-needed-to-save-for-sydney-first-home-deposit-in-2014-bankwest">click here</a>.
<img src="/images/2014/12/19/syd%20bankwest%20dec%2019%20one.png" alt="">
Source: Bankwest
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How long it takes first time buyers to save by state

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The strong Sydney property market in 2014 means it is taking 10 months longer to get into the market than it did during 2013. 
Sydney is the most difficult capital city in Australia for first time buyers to enter the property market, with deposit savings times now approaching seven years for couples, said Ian Rakhit, Bankwest's head of specialist banking said.
The sixth annual Bankwest First Time Buyer Deposit Report revealed it will take 6.7 years for first time buyers in Sydney to save a home deposit for a median priced property.
"This is an increase of 0.8 years (approximately 10 months) on the same point in 2013," said Rakhit.
"The jump in savings time is largely attributed to a 15.4% year-on-year increase in median home values."
First time buyers in Sydney now need to save a $165,100, 20% deposit to purchase a median priced property.
"This is $40,000 more than the next most expensive capital city, Melbourne ($126,200), and considerably more than the average capital city deposit of $104,813," Rakhit said.
“New South Wales continues to see high levels of population growth, which has a direct impact on housing demand and affordability.” 
“This affects everyone in the housing market, but it certainly makes the first step onto the property ladder tough for Sydney-siders."
There are now 12 local government areas (LGAs) in Sydney where it would take a couple more than 10 years to save for a home deposit, which equates to a record 28% of total LGAs for the Sydney region.
<img src="/images/2014/12/18/bankwest-dec-19-one.jpg" alt="">
Source: Bankwest
A further 44% of Sydney LGAs have savings times of over six years. Only 12 Sydney LGAs offer savings times between two to four years, while 16% would take four to six years.
Mosman remains the most difficult suburb to break into for first time buyers, requiring 14.2 years to save a deposit. The second most difficult suburb is Woollahra, where savings would take 13.8 years.
While Sydney remains Australia’s most expensive capital city for first time buyers, the rest of New South Wales offers much more affordable properties, with a couple on an average income taking 4.8 years to save the $112,700 required for a home deposit.
There are 37 LGAs in New South Wales (25% of the total of 149) where the average first time buyer couple would have to save for less than two years to raise a 20% deposit for their first house. Central Darling in Far West New South Wales has the shortest savings time in the state, taking 0.7 years (eight months) for a couple to save the $13,600 required for a house deposit.
“As first time buyers find themselves priced out of inner Sydney, regional alternatives may become more appealing. If first time buyers are willing to look outside the typical hot-spots there are still good deals to be found,” Rakhit said.
Nationally, first time buyers are being forced to save for longer as the median value of houses outpaces salary growth. On average, Australian first time buyers will now take 4.1 years to save a 20% deposit for a house, up from 3.9 years in 2013.
<img src="/images/2014/12/18/bankwest-dec-19-two.jpg" alt="">
Source: Bankwest
Despite a rapid increase in the median price of housing across Australia, wages among first time buyers have only grown by 2.6% over the year, leaving first home saver incomes lagging behind rising house prices.
“This year’s report reveals an ongoing and increasing trend in the amount of time it takes to save for a first home in Australia. At the same time, those who are in a position to join the property ladder this year will do so a time when the average price of houses is showing strong growth,” Rakhit said.
A large part of the growth in national housing prices can be attributed to low interest rates, with standard variable rates currently at the lowest level since 2009. The current average rate of 5.9% per annum is well below the average rate of 7.3% seen over the past 10 years, he said.
"While low interest rates may make it easier for home owners to service their loans, they can also make it more difficult for first time home buyers to save for a first home deposit," he said.
"For a couple saving their money in a high interest online savings account, the average interest rate has been 2.5% over the past 12 months, down from 3.17% in 2013, and the average rate of 4.69% over the past 10 years."
The report quantifies how long it would take a first time buyer to save a 20% deposit based on local incomes and local house prices and the level of the First Home Owners Grant where available by state. Data has been sourced from the Australian Bureau of Statistics (ABS) Wage and Salary Earner Statistics for Small Areas, the ABS Wage Price Index, the Reserve Bank of Australia (RBA) and Residex.
Deposit savings times have been calculated on the basis of a first time buyer couple setting aside 20% of their combined pre-tax income annually. The calculation assumes the savings are deposited into an online savings account each month and earn interest on this basis.
A full list of results for 465 LGAs across Australia is available in the Bankwest First Time Buyer Deposit Report 2014, which is available at <a href="https://www.bankwest.com.au" target="_blank">www.bankwest.com.au.</a>
<img src="/images/2014/12/18/bankwest-dec-19-three.jpg" alt="">
Source: Bankwest
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jchancellor-FAypfDUnLy

10 extra months needed to save for Sydney first home deposit in 2014: Bankwest

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An Australian Capital Territory Civil &amp; Administrative Tribunal decision has upheld a 25% penalty imposed on a property buyer over a First Home Owners Grant (FHOG) dispute.
Yesterday, it was found that Mr MD Masud Karim, who had been given the First Home Owner Grant and First Home Owner Grant Boost, totalling $21,000, was required to give back the funds, interest and face a penalty as he had not resided in the premises.
The tribunal noted that it was not a deliberate intention on Karim’s part to defraud.
In January 2009, Karim entered into a contract for sale for a block of land. In July, he then entered into a home building contract to construct a dwelling on the site.
In August, he then lodged an application for the grants where he said that he, as the applicant, would be occupying the home as his principal place of residence for six months within 12 months of completion.
However, in September 2009 he left Australia for Bangladesh, with the application not yet determined. He has not returned to Australia, citing better employment opportunities for himself in Bangladesh.
In November he was told that his application was approved. He did not update his NSW driver’s licence from his previous Lakemba address, nor his bank accounts, nor put himself on the ACT electoral roll. He was, however, the addressee for the electricity and natural gas bills.
His wife and children moved into the house in January 2010, where she used her address and enrolled her children at the local school.
In May 2010, she appointed a property manager to rent the house and act as agent for rates and land tax, where it was rented to other people until July 2010 when she and the children moved to Bangladesh.
In October 2010 Karim sold the house. He said that he was unable to service the mortgage with his current income and the rent.
Despite his wife and children living in the property, and Karim’s submission that it was his primary place of residence in Australia despite himself living in Bangladesh, Tribunal said that he must have lived in the house himself as the applicant.
Instead, Tribunal advised the better course of action would have been to not accept the grant, or notify the respondent within 14 days that he would not meet the residency requirement. Possibly, an extension of the time for the grant may have been provided for the unexpected situational change.
In effect, the Tribunal agreed with the submission of the respondent that those who receive the grant accept it on a “conditional bases” that means they are expected to exercise diligence to ensure they either meet the conditions of the grant or return the funds.
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Man penalised for claiming FHOG while living offshore

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Anthony Cordato, the Cordato Partners property investment lawyer, says many first-time property buyers are buying an investment property to rent out, instead of buying a home to live in.
He said the trend made perfect sense for four reasons:
<ol>
<li>Since 2011, the withdrawal of the first-home owner grant and stamp duty concessions has encouraged first-home buyers to buy an investment rather than a home.</li>
<li>Lenders, particularly second-tier lenders, offer 30-year investment loans with five years’ interest only followed by 25 years’ principal and interest, which means low repayments for five years.</li>
<li>Direct property investment has tax advantages of negative gearing and depreciation.</li>
<li>Availability of new stocks of home units and house and land packages is increasing.</li>
</ol>
"First-home buyers have merely changed into first-home investors," he suggested to the Australian Financial Review.
In October, 11.6% of home loans were made to first-time buyers, as against a long-term average of 20%, according to the Australian Bureau of Statistics. 
You may also want to read: 
<a href="/expert-insights/buying/buying-an-investment-property-while-renting-the-pros-and-cons">Buying an investment property while renting: The pros and cons</a>
 
 
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Four reasons why more first home buyers are now first time investors 

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Owning your own home may be a dream, but is it the best first move?
Many first time buyers aren't looking for a home to live in – instead, they're seeking investment properties.
If you can purchase an investment property while living with your parents – and are happy to continue living there – you can generate a tidy secondary income or build equity with few outgoing costs.
Some prefer not to live with their parents, or are unable to do so. For those eager to get into the property market, it may seem the pressure is on to settle down in a permanent home. The other option is to rent – but rent money is dead money, right?
Not necessarily. In fact, renting while building an investment property portfolio is a well worn strategy. But what are the pros and cons of buying an investment property and renting before purchasing your first home?
Firstly, it's useful to consider the reasons many choose to make their first property purchase their own home.
<h3>Owning your own home first:</h3>
The pros
<ul>
<li>First home owners grants and concessions</li>
</ul>
Depending on the type of property you are hoping to purchase and where you live, you may be eligible for a <a href="/expert-insights/buying/first-home-owners-grants-set-for-2015-changes-state-by-state-round-up">first home owners grant</a>.
In order to claim a first home owners grant, most buyers will have to live in their home for at least six months (12 months, in some places).
In some states, including Queensland, you will not be able to receive the first home owners grant for a property purchase that isn't your first, even if your first property buy was an investment property.
You may also be able to claim land tax concessions on your first home purchase.
<ul>
<li>Caring for your own home</li>
</ul>
Owning your own home also allows you to dodge many of the worst parts of renting. You're free to decorate, upgrade and make alterations to your own property. Home owners don't have to wait for a property manager to give them permission to make improvements or have that faulty plumbing fixed.
You can also keep pets and welcome additional inhabitants without seeking your landlord's approval.
Property isn't all about money – homes have emotional value. The appeal of owning one's own home is obvious to many.
<ul>
<li>Stability and security</li>
</ul>
Another downside of renting is the lack of security or a consistent lifestyle. Within three months, you could find yourself without accommodation, at the whim of your landlord.
Purchasing a home does not guarantee you will always be able to live there. You may be uprooted for work or be unable to make your repayments. However, generally speaking, you are responsible for ensuring you can continue living in a home you own.
While renting, the length of your stay in your home is totally at the discretion of your landlord.
If you're making your mortgage repayments comfortably, you can then use the spare money to invest in other assets, knowing that you have a stable home.
<ul>
<li>Capital Gains Tax exemption</li>
</ul>
When upgrading and selling your primary place of residence, you don't need to pay capital gains tax – something you will have to do if selling an investment property.
The cons
<ul>
<li>Fewer tax exemptions</li>
</ul>
While owning your own first home will allow you to dodge capital gains tax, you also have fewer tax exemptions available to you than you would if investing. As your home is divorced from your income, you won't be able to claim deductions for interest payments or upgrades to your property.
<ul>
<li>No income</li>
</ul>
Unless you rent out some parts of your house while you live in them, your house will only deliver you cash on the day you sell – and even then, it may not.
What you gain by owning your own home, you lose in cash flow.
<ul>
<li>The growth/lifestyle trade off</li>
</ul>
Some are willing to sacrifice a lot to live near the CBD, or their parents, or their friends, or their child's school.
Unfortunately, the best places to live may not be the places you can afford, or places that have good investment potential. If you're sure you won't be happy unless you live in the inner city, but can only afford to buy in the far western suburbs, buying a home may not be for you.
The places that make the best places to live – for many reasons ­– are not necessarily the best places to invest. Nine years down the track, you may realise your dream home hasn't appreciated in value at all in the time you've lived in it.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
<h3>Buying an investment property and renting</h3>
The pros
<ul>
<li>Cash flow</li>
</ul>
An income generating property, if managed properly, can pay for itself (literally). If cash flow positive, the rental income you receive could cover outgoing costs and your mortgage payments (including interest). If it's generating a healthy rent, it could even cover your own rental payments.
Not all investment properties will be positively geared, particularly if they're recent purchases. As your investment property is an income generating asset, you can claim interest payments as tax deductions if your property is negatively geared. If you back your property to appreciate and generate capital growth when you sell it, and your taxable income is considerable, this could be a worthwhile strategy.
<ul>
<li>Tax exemptions</li>
</ul>
Beyond negative gearing, an investment property has many other tax benefits. Outgoings including maintenance, improvements and repairs can be claimed as deductions, as can depreciation. Speak to your accountant before making an investment to see what you will be able to claim.
<ul>
<li>Flexible purchasing arrangements</li>
</ul>
If you're purchasing a home to occupy, it's unlikely many people, beyond your co-inhabitants, will be willing to contribute. But if you're buying an investment property, you may be able to work with family members, or friends, splitting the income generated. If you're considering this option, make sure you know the <a href="/expert-insights/buying/should-i-buy-a-property-with-a-friend-six-things-to-consider-first-ask-margaret">potential draw backs</a>.
<ul>
<li>Equity</li>
</ul>
If your investment property is positively geared, you can use the income to pay off your mortgage, building equity faster than you may be able to if you were paying off the mortgage of your own home using just wages.
That equity can then be used to expand your property portfolio.
The cons
<ul>
<li>First home owner grants</li>
</ul>
Many grants and concessions will not be available to you for your first purchase if it is not your primary place of residence. Even if you do buy a home to live in later on, you may find that you are no longer eligible for a first home owner grant due to your first purchase.
Some first time investors choose to live in their newly acquired property for six or 12 months to get the first home owners grant before moving out and renting the home. However, if the tax office can successfully prove you never intended to make the property your principal place of residence, you may be required to pay back the grant.
<ul>
<li>Volatile costs</li>
</ul>
Part of the allure of renting is never having to pay for maintenance (unless, of course, an issue is your fault). Leaks, mould or flooding isn't your problem, it's your landlords. Of course, if you rent and buy an investment property, suddenly you are a landlord – and all those problems with your investment property are now your own.
Don't underestimate the time and cost of maintaining a rental property. If you have a good property manager, you may have relatively few surprise costs. But for some unlucky property managers, the first time they hear about a leak is six months after it was reported, when the pipe has burst and the ceiling is ruined – blowing a small cost into thousands of dollars.
If you're purchasing an investment property, make sure you have plenty of time and money to deal with maintenance.
When renting and owning an investment property, you get all the frustrations involved on either side of the fence.
As a renter, you also face uncertain costs. Mortgage payments are generally quite regular, even with rate changes. The rent your landlord chooses to charge is not necessarily so consistent. If your landlord decides not to renew your lease, you are also tasked with finding new accommodation (and, normally, paying bond and a month's rent up front).
<ul>
<li>Capital Gains Tax</li>
</ul>
You will be required to pay capital gains tax when it's time to trade any properties that are purely investment assets. You aren't required to do so when selling your primary place of residence.
<ul>
<li>Relinquishing control</li>
</ul>
As many renters can attest to, living in a property you don't own can be a frustrating experience. Maintenance seems to take double the time it should, costs can go up unexpectedly and you can't customise your home the way you would like.
<ul>
<li>Which is a better strategy?</li>
</ul>
The answer will, of course, depend on the property you're hoping to purchase, your priorities, and your investment goals.
For some, the first home owners grant is negligible when compared to potential rental income. For others, the frustrations of maintaining a property that you don't have control over just isn't worth it, especially if you have no experience in property. Negative gearing benefits may not make a difference to someone on a low income, and if you're disinterested in renovations, you may be very happy to rent for the rest of your life.
Purchasing your first property is a complex investment and big financial responsibility – make sure you do your research. Speak to an accountant and be honest about your personal goals before jumping into the property game.
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jrichardson-uRX5hFdKfN

Buying an investment property while renting: The pros and cons

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Last month, the proportion of first home buyers in New South Wales dropped to 1.9% - or less than one in 50 borrowers, according to AFG statistics.
This November figure is the lowest ever level recorded and coincides with drops to historic lows also recorded in Victoria and South Australia. Their first home buyer proportions were recorded at 7.4% for Victoria and 6.3% in South Australia.
Queensland first home buyers have lifted off the lowest levels seen last month, at 4.7%, to a marginally improved 5.2%, while Western Australia’s first home buyers are up to 19.1% from 17.9%.
Investors are still a strong segment, totalling 40.7% of new loans and spanning up to 50.9% in New South Wales. This drops to 39.8% in Victoria and 35.9% in South Australia. In Queensland and Western Australia investors make up 34.5% and 29.8% of the market respectively.
AFG’s general manager of sales and operations Mark Hewitt said that they’ve been highlighting the imbalance in the market since losing the first home buyers grant in a number of areas.
“Last month was the closest to zero we’ve recorded for NSW, and first home buying is well below its long term trend of around 12% to 15% everywhere except in WA,” said Hewitt.
They point to a $10,000 grant available for first home buyers purchasing new properties in WA and $3,000 for established purchasers.
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