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

<html><body>
Mortgage Choice’s recent First Home Buyer Survey 2014 paints an interesting picture of the 'average' age and purchase choice of a first time buyer.
How do you compare to their average?
Here are nine points of comparison. Answer the questions below, then turn the page to see how your responses stacked up.
<ol>
<li>How old will you be when you buy that first home? 
</li>
<li>Who are you intending to buy with? 
</li>
<li>How will you finance it (what LVR, and will you have assistance)? 
</li>
<li>How long will you be saving for before buying? 
</li>
<li>How much of your after tax income do you save each month? 
</li>
<li>What type of property are you looking to buy? 
</li>
<li>Are you able to buy where you want to? 
</li>
<li>What are your biggest concerns about buying a home? 
</li>
<li>What are your key motivators behind purchasing?</li>
</ol>
Turn the page to see how you stack up.
<hr class="system-pagebreak">
<ol>
<li>
How old will you be when you buy that first home? Of those surveyed by Mortgage Choice, 43.1% said they would be 30 to 39. A further 33.4% said 18 to 29. 16.9% said 40 to 49, while 6.6% said 50 plus. 
</li>
<li>
Who are you intending to buy with? The majority, 65.6%, of first home buyers are looking to buy with their spouse or partner. A further 28.6% are buying alone, while a small minority are considering purchasing with colleagues, siblings or other family members. 
</li>
<li>
How will you finance it (what loan to value ratio (LVR), and will you have assistance)? Most first home buyers are seeking a 6-10% deposit, with 28.9% pointing to this bracket, closely followed by 20.7% with a 5% deposit. 14% of respondents said they would opt for an 11-15% deposit and 14% of people a 16-20% deposit. Those contributing more than 20% totaled 16.3%. A minority looked to get their parent to act as guarantor. 
</li>
<li>
How long will you be saving for before buying? The most common response was for a period of one to two years, with 43.1% answering with this option. A further 16% and 15.1% noted one to two years and two to three years respectively. Just 9.2% will save for zero to six months. 
</li>
<li>
How much of your after tax income do you save each month? This is a close call. If you answered 10%, then you’re closest to the most common person surveyed, with 28.1% opting for the figure. However, 25.5% noted 20%, with 17.6% selecting 30%. 
</li>
<li>
What type of property are you looking to buy? The majority are looking to purchase an established home (47.9%), while 17.1% are aiming for a newly built property. Those looking for land, or off the plan, remain in the minority. 
</li>
<li>
Are you able to buy where you want to? The majority say… no, with 54.3% unable to do so. This is largely as a result of cost, with 88.8% of those respondents saying it’s out of their price range. 
</li>
<li>
What are your biggest concerns about buying a home? First home buyers are most concerned about the commitment that comes with a large financial obligation (48.7%), while similar figures were for ‘The length of time it takes to pay off’ (46.2%) and ‘Not being able to afford repayments’ (45.2%). Around a third of those surveyed also noted that the amount of money they would have paid by the end of the loan term, not taking out the most suitable home loan and buying the wrong home are significant concerns. 
</li>
<li>
What are your key motivations behind purchasing? The most common answer, with 53.3% of respondents opting for this, was to set themselves up financially. A total of 45.6% wanted a family home to raise their children in, while 33.1% of respondents also said that rising rents was making owning more attractive. Favourable market conditions and seeing more benefit in property than the share markets nabbed above 19% of respondents for each. 
</li>
</ol>
</body></html>

jduke-EHk3XBmHkn

How do you compare to the 'average' first home buyer?

<html><body>
The annual RAMS First Home Buyers’ Pulse Check Survey has found first timers are looking to enter the property market sooner, even as fewer of them think it’s a good time to buy in.
In fact, of those surveyed, 19% are looking to purchase within the next three to six months, with 15% looking to buy in the next three months. This is an uptick from 14% and 13% respectively last year.
However, 65% this year think it’s a good time to buy, compared to 75% last year.
RAMS chief executive Martine Jager said the figure for first home buyers (FHBs) who want to buy soon is the highest they've seen.
She also noted the age of first home buyers is increasing, with 41% aged 36 or above, up from 30% in 2013.
The proportion of those aged 25 or below has dropped to 18% from 27% in 2013.
“There is a recognition amongst the group that they need to get on that property ladder, they recognise the importance of that first step and making it sooner rather than later. Something we are seeing amongst our customers at RAMS,” said Jager.
“We’re also seeing first home buyers are buying their home for different reasons, with more investors in the market than ever before,” she noted.
While interest rates was noted as an important issue, 70% said that they would still buy if rates were higher. Last year, 75% said they would buy if rates were higher.
Unsurprisingly, saving a deposit is one of the key barriers, with 48% of respondents noting it. Deposit concerns ranked behind property prices, at 49%.
Those requiring a home loan are more likely to have saved for two years or more, with 44% compared to 41% last year, with more saving above 20% of their household income for a deposit.
</body></html>

Fewer FHBs think it’s a good time to buy, but more intending to: RAMS

<html><body>
Mortgage broker AFG processed 10,463 loans last month - the highest in its 21-year history - but overall first home buyer loans fell to 7.2%.
In New South Wales, the figure was a woeful 2.2%.
“First home buyer loans have fallen to unprecedented lows in places like NSW,” said AFG’s general manager of sales and operations Mark Hewitt.
“If this continues we are going to end up with a whole generation of renters.”
The October mortgages processed by AFG brokers for first home buyers fell from its previous September record low of 8.4% of all home loans to 7.2% nationally.
The first home buyer loans have declined each month since June this year when they represented 10.8% of all home loans processed.  New South Wales was followed by Queensland (4.7%), South Australia (7.3%), Victoria (8.3%) and Western Australia (17.9%).
AFG calculated that excluding WA from the equation, the average level of first home buying on the eastern seaboard would be around 5% - about a third of the long-term average.
Nationally, investor home loans represent 38.7% of all mortgages processed, down from a peak of 40.3% recorded last month.
Hewitt noted October had traditionally been one of the strongest months for property with an increase in owner occupier loans. 
</body></html>

jchancellor-FAypfDUnLy

NSW first home buyer numbers dip to 2.2%: AFG

<html><body>
Everyone thinks they’re a bit of a real estate expert, and while that makes for fun family BBQs, it doesn’t necessarily mean you should take everything as gospel.
When anyone offers you their two cents (and sometimes more) on the property market, it’s worth asking the following questions to determine how much you can actually rely on the details.
Some of these you can ask to the individual themselves, while others are for you to consider.
Here’s our seven questions to be asking:
<ol>
<li>
Who is paying them? Following the money has always been a good strategy in real estate. Someone you are paying is more likely to have your best interests at heart. For instance, a buyer’s agent that you pay a fee to is more likely to be working for you and giving you good advice than the real estate agent who is receiving a commission from the vendor’s sale. Find out where they get their money from, and any conflicts of interest that may arise from kickbacks or commissions. 
</li>
<li>
What data is this information based on? Asking to see the statistics and source material behind someone’s assertion can help you out. Everyone’s interpretation of information differs, and it’s worth figuring out if you agree with the interpretation being provided by the guru you’re speaking to. You may also discover issues in their source data, or a selective choice of information. Head back to the source. If they are hesitant to reveal their statistics and sources, it’s time to be wary. 
</li>
<li>
Do they have any personal experience with what they are telling you? Personal experience can give someone a specialised level of expertise, and a mentor who has “been there” can quickly point out issues with your renovation plans, or tell you what you might need to watch out for. This can be invaluable. However, beware of the expert who hasn’t done it themselves before and relies on living through others’ experiences. Certainly, not every person must have personal experience, but it can help understand where they’re coming from. For those who have invested and been burnt in the past, you may also find that there is some personal bias and risk aversion. Ensure that you know what experiences they have had so you are aware of any potential bias. 
</li>
<li>
How much professional experience do they have? For those in the industry, it’s worth knowing what education they’ve had and for how long they have been in the profession. While this doesn’t mean that anyone without that level of industry experience cannot provide good information, and certainly doesn’t suggest that all industry veterans are well placed to assist, it does allow you to be on your guard. For those that are not in the industry, such as family and friends, it’s worth knowing what their other qualifications are. There are many overlapping and useful details 
</li>
<li>
Why are they offering you the information? As above, if you’ve paid for the services that is one reason someone will provide information. Otherwise you want to know whether they’re selling you something or trying to do a good deed. Understanding the motivations of the expert will go a long way to explaining the type of advice they’re dishing out. 
</li>
<li>
Is the information ratified by any other experts? Knowing whether many other professionals or knowledgeable property buyers agree with this individual can help you find out problems before they affect your purchase. Look for the arguments other experts have made against them, either in news articles online, forums or just by speaking to them, and think carefully about whether these counterpoints have much ground. Take the opposing arguments to that expert to really test their advice. 
</li>
<li>
How have they made their advice relate to you? If their advice is generic, it’s worth being wary. If they know nothing about your finances, tolerance for risk, background and future plans, then it’s likely not prudent for them to be suggesting a first time buyer drops $800,000 on a mining town investment. The more they ask about you, and the more flexible they are around your personal circumstances, the more likely they are actually considering what investment suits your profile. There is no one size fits all for every buyer.
</li>
</ol>
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Seven questions that will help test "expert" advice

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A Melbourne newspaper article this week bemoaned the fact that “first home buyers in Melbourne fall well short of the median house price”.
It noted that the median house price was $590,000 and the median unit price was $460,000 but, according to PRDnationwide research, the average first time buyer could only afford to spend $372,000.
“First home buyers are increasingly being pushed to the fringes of Melbourne,” wailed the article.
My responses to the information in those three preceding paragraphs are these: So what? So what? And, again, so what?
Newspapers never get tired of their pet real estate theme – i.e. the 'Great Australian Dream' is dead. Research companies, and others suffering from limelight deficit syndrome, know that if they toss together some figures, call it research and send a bleeding heart press release to a newspaper, publicity will inevitably follow.
Whether through ignorance or mischief, this article, like so many others, missed the point several times.
The first point they missed is that first home buyers are not being asked for pay the median house price for a home, nor the median unit price. If the median house price was $590,000, by definition it means that half of all house sales were for less than that figure – in many cases, for a lot less.
Another point missed is that if $372,000 is what people can afford, there are heaps of options in Melbourne. The Hotspotting team did some research, looking for suburbs with median house prices and/or median unit prices under $400,000. If the median is $400,000 or less, it means half of all sales are below that figure, so plenty of possibilities around $370,000.
We found 214 Melbourne markets that were affordable, by that criteria. And you don’t have to go out to the fringes to find them.
<a href="/news">Brunswick West</a>, where the median unit price is $385,000, is not on the fringes. <a href="/news">Footscray</a>, with similar numbers, is 6.5 kilometres from the Melbourne CBD. Neighbouring <a href="/news">West Footscray</a> is cheaper still.
The Sunshine suburbs, which all fit the affordability criteria (and offer major medical, education and transport infrastructure), are 10-12 kilometres west of the CBD.
Many of those 214 affordable markets were more distant. Some are right out on the outskirts of the metropolitan area (but many of them in areas with good capital growth records).
But there’s another point missed by the article: it’s not a national crisis if first time buyers have to go to the fringes to find a house they can afford. It has always been thus and, I imagine, always will be.
I bought my first home in the early 1980s. I was working in central Brisbane but had to go to the far south-west of the metropolitan area, out in Ipswich City, to find something in my price range. I spent three hours every day on trains.
It was a dogbox house in a dog of a suburb, but it got me started. And, like a lot of ugly real estate, it grew in value. My second purchase was a lot closer to the action and the third was a good house in a good suburb, not far from the CBD.
That’s how home ownership works. You make sacrifices and compromises to get started, and work your way up from there. If all goes well, you’ll achieve your dream home long before you retire.
The bottom line: the nation owes its citizens shelter. But it doesn’t owe anyone their dream shelter in their dream location as a first purchase.
If anyone wants it badly enough, there are hundreds of market options around the Melbourne area. But if you’re not prepared to make some compromises, get used to renting.
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</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

First home buyers: If you’re not prepared to make compromises, get used to renting

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Earlier this week, Property Observer reported on a new survey from ME Bank that recorded 18% of respondents believing they would never be able to afford to buy their own home.
For people aged under 30 and women this<a href="/news/nearly-one-in-five-believe-they-will-never-be-able-to-buy-a-home-survey"> figure rose even higher</a>, to 26% and 21% respectively.
The survey also found that 51% of people expect rises over the next 12 to 24 months, with just 9% expecting prices to fall.
ME Bank general manager asset products, Luke Easton said that many first time buyers are now adapting different strategies in order to purchase a home.
When surveying respondents aged 18 to 29, one trend was clear. This bracket of buyers is keen to work harder, make cutbacks and try new things to get into the market.   
Here are the five strategies young buyers are considering:
<ol>
<li>24% of young buyers are finding ways to save more to purchase property, double the national average of 12% 
</li>
<li>20% are finding ways to increase their income, compared to 11% overall 
</li>
<li>19% would choose a property based on eligibility for a first home owner grant 
</li>
<li>14% would buy jointly with friends and family, compared with just 6% overall 
</li>
<li>12% would change their expectations on size, quality or location, compared to 6% overall</li>
</ol>
Easton said that financial challenges are encouraging creative attitudes.
However, he warned against property speculation.
“Trying to pick the market is impossible and you’re better off focusing on what you can control – saving for a deposit,” he said.
“Similarly, investors would be wise to build their investment strategy based on long-term capital growth and ignore short-term price fluctuations”. 
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The five strategies of young buyers: ME Bank

<html><body><ol>
<li>
A median price is not an ‘average’, and isn’t necessarily even that indicative of prices in an area. It’s the middle price of the set of sales figures available. Essentially that means that an equal number sold below that price as did above – suggesting that cheaper properties have also sold. While median price changes can suggest changes in value, it is often a change in the composition of sales (that is, if an expensive new prestige development is launched, the sales prices are likely to increase. This doesn’t mean that nearby older units have gone up in value). Here’s some more information on exactly <a href="/expert-insights/investing/how-to-determine-the-median-house-price">what a median price is, and how it is calculated</a>. 
</li>
<li>
Looking at sold prices is more effective than looking at ‘for sale’ prices  However, do consider them in concert with each other. What properties have actually sold for is the price that is of most importance to you – particularly when the sale is recent and of a similar property (with similar attributes and in a comparable location). What a property is listed as is not necessarily what the vendor will end up achieving. Some properties go for more or less than their listed price. It’s your job to try and figure out whether it’s worth paying their asking price after all. 
</li>
<li>
It’s worth your time and money to consider the property beyond your initial impressions Think the kitchen is ugly, or the colour is horrendous? Sometimes, the discount you will achieve on the property due to its presentation can easily outweigh the cost to rectify the bad style choices. If the problem is fixable, and cheaply so, then you may be able to get the home of your dreams and for a discount. 
</li>
<li>
Know that there’s another property around the corner  Yes, you love this home – we’ve all been there and done that. However, you will “love again”. If it goes beyond your budget, or is already, it may not be worth another offer. Do not stretch yourself financially to the limit because you become emotionally involved in the home. Ensure you are purchasing with your own financial ability in mind. Be practical. At the same time, if your instinct tells you that the property isn’t right – also don’t ignore yourself and your gut feeling. You need to be comfortable with the purchase that you make in the long run. 
</li>
<li>
Remember that interest rates move  We may be at record lows now but it’s very unlikely these will continue on forever. Ensure you know the impact of a change in rate on your loan, particularly if you’re opting for a variable rate, and know what you can afford. 
</li>
<li>
Inspect more than once if you’re going to make an offer  When searching for a property, you want to pop the hood a few times. That first walk through may have sealed the deal for you, but have you visited in the evening, or during rush hour? Have you listed to the noise from that busy nearby street during peak commuting times? It may not make a difference, but at least you’ll know that property inside out before you make a commitment. 
</li>
<li>
Keep in touch with the real estate agent  Let them know you’re interested (if you’re concerned about appearing “too” interested, say it’s one of a few on your list) and stay in regular contact. You want to know if anything happens to the home – if it’s discounted or otherwise. You also want to know if anything similar to it is coming onto the market or is on their books. Real estate agents may not be working for you, but they can certainly be very useful. Some real estate agents regularly provide sales updates to prospective buyers and sellers – this can all be part of your research. 
</li>
<li>
Don’t forget that the costs don’t end when you’ve purchase  Fixing items, council rates, strata levies and, of course, your ongoing mortgage costs. Running costs and maintenance can significantly affect your finances post-ownership. Make sure you can really afford the property you’re getting – particularly if you’re upgrading from a smaller rental. Your bills are going to be larger, and you may even need more furniture at some point. 
</li>
<li>
Preparation is the key to success Whether it’s pre-approval, and taking those steps to ensure you’ll be able to repay your loan comfortably, or getting a building and pest inspection, success is all in the work before you buy. Plan as carefully as possible, and do your checks and balances. This is not the time for scrimping. 
</li>
<li>
If you lose your job you still need to pay that mortgage  Prepare yourself for if you lose your job – there may be certain insurances worth your while. This is a big financial commitment, and you want to ready yourself for whatever life throws at you. Ensure you aren't stretching yourself to the limit, consider a financial buffer built into your LVR where possible and try to have a contingency plan in the way of repaying extra or savings when you do buy. 
</li>
<li>
Prices don’t always go up  What do you do if you can’t sell in five years time as you may be planning to do? Know what to do if the property price drops to ensure you won’t be left out cold. Can you stay in this property long-term? Be honest about the possibility of prices dropping in the area you’ve selected.</li>
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11 things every first home buyer should know

The top 10 metro and regional Victorian suburbs for first home owner grants

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First home buyers heading to auction must keep a cool head, particularly on a weekend like the upcoming one in Melbourne. 
Excitement is the air ahead of a record number of scheduled weekend auctions.
There are close to 1,800 auctions lined up for the weekend across Victoria, according to the Real Estate Institute of Victoria (REIV), the most auctions ever held on a single weekend in the state. “I’m tipping this to easily outstretch any of the big auction weekends in the past, including the current record of 1,517 auctions set on December 14 and 15 last year – closely followed by 1,463 auctions on the pre-Cup weekend last year,” said the CEO of the REIV, Enzo Raimondo. "The city's auction market is in excellent form and we believe this record-breaking weekend will see the public turn out in large numbers.”
The top auction suburbs are:
<ul>
<li>RICHMOND </li>
<li> HAWTHORN </li>
<li> GLEN IRIS </li>
<li> PORT MELBOURNE </li>
<li> BRIGHTON </li>
<li> RESERVOIR</li>
</ul>
Source: REIV
With all the attendant excitement, how can you ensure you keep your calm this weekend? Here are our tips.
<ol>
<li>
Head in with your documents pre-prepared By now, you should have looked at your contract of sale, sought out legal advice, obtained a building and pest inspection (and any of your other checks and balances), undertaken any other required due diligence and prepared a cheque or other way to pay your deposit. There’s little time to do this on the day, so having all these things pre-prepared will go a long way to stop the last minute “morning before” rush. 
</li>
<li>
Engage an expert if you need the assistance If you are concerned about bidding, then it may be worth contacting a buyer’s agent to assist you in the bidding process. Alternatively, you may decide that bringing a “devil’s advocate” in the form of a trusted mentor, friend or acquaintance can assist you at auction. If you become more bullish under pressure, this may assist you in maintaining your restraint with bids. 
</li>
<li>
Gauge the crowd ahead of time Head to the auction early and gauge the crowd and the ‘vibe’ ahead of the start. If you’re heading in late you will be unable to weigh up your competition and you may encounter extra stress as a result. This will help you think strategy and determine whether or not you may be contending against another buyer. 
</li>
<li>
Position yourself thoughtfully When at the auction, don’t forget to position yourself carefully in preparation to bid. Property Observer editor at large Jonathan Chancellor <a href="/news/nsw/11-tips-to-avoid-becoming-spring-auction-pushover-buyers">recommends that you never sit in the front row</a>, or with your back to the crowd. “Take a corner position so you can survey all your competition,” Chancellor advises. 
</li>
<li>
Know your highest price and do not waver Before bidding, you should have determined the highest price you’re willing – and can afford – to pay. If you’ve made a thoughtful decision ahead of time, then this should enable you to set your limit on the day. If you do not make a researched judgment on the price then you may face overpaying in the heat of the moment. While it is debatable as to whether you should allow yourself to push a “few thousand” over your set price, it’s advisable that you determine to be comfortable to allow the property to go if it sails past upper limit. 
</li>
<li>
Step back Be confident and polite when bidding, but if you find yourself getting caught up or confused then it’s time to quickly re-assess. Step back, remind yourself of the value of the property and ensure you don’t get swept up in the emotion of the day. Similarly, if you find yourself bidding furiously against another buyer it is worth reminding yourself that you are both causing the other to pay more. Be alert and know when to show restraint.
</li>
</ol>
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Six tips for keeping a cool head at auction

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Guest observation
Buying your first property, whether for yourself or as an investment, is arguably the most significant financial decision you'll ever make.
I've advised dozens of first home buyers and have seen how mistakes can be made due to inexperience and emotions. Some mistakes can have disastrous financial consequences.
So here are my top legal tips for first home buyers:
<ol>
<li> Never trust a real estate agent. They are not working in your interests: they are there to sell their client's property. While some of my dearest friends are agents, I'd never take anything they'd say about someone else's property at face value. If they claim pets are allowed, check with the Owners Corporation or Body Corporate. If they say an off-the-plan apartment will be a certain size, ensure it's written into the contract. If they tell you to hurry and sign the contract before "it's too late", make sure you're had a lawyer look at it first. While it can feel like you've found "the one" and your heart is set on it, there are new properties coming onto the market every day of the week. It's just not worth risking your financial security by being reckless and rushing. Take the leap when you're ready: not when the agent is. 
</li>
<li>Don't assume anything, check! You might have grand plans for the future, but don't assume this is legally possible. Do your homework in advance. If you are thinking about knocking down an old house and building a new one, check with the Council that this is permitted under the planning scheme and make sure you know if there any easements that you could be prevented from building over. If you are planning to run a business out of an apartment, check that the Owners Corporation or Body Corporate rules allow this. If you're buying an investment property, get an independent rental appraisal. Be armed with all the information you need in order to make an informed decision - and to avoid nasty surprises. 
</li>
<li>Be careful with off-the-plan apartments. Spacious and well-lit display units are not a representation of your finished off-the-plan apartment. The fine print of the contract will make it clear that you cannot rely on what you see in a display unit. Some smallish one bedroom apartments can be difficult to obtain finance for. Aim to specify in the contract as much detail as possible about the fixtures and fittings. The developer will have the right to substitute these for similar brands, which is why it is important to specify a quality baseline brand. Off-the-plan developments can take up to five years to finish and the contract will specify a "sunset" date. The agent might say "x months until completion", but be prepared for the full period to run as set out in the contract. 
</li>
<li>Thoroughly inspect the property first. With an existing home, the condition that the property is in on the day you sign the contract is the condition you should expect to receive the property in. If the oven wasn't working on the date of sale, bad luck. Turning on all appliances, checking all light fittings, flushing all toilets and turning on all taps will give you an accurate picture of the state of the property. Look closely for newly painted gutters and window sills: are they masking rot or rust? Jump up and down on wooden floors – are they squeaky and uneven, indicating stump damage? You may even engage an independent building inspector and/or pest inspector to check for invisible but expensive problems like terminate infestation. Knowing exactly what you're signing up to can be a handy price bargaining chip when negotiating a private sale, but at the very least you'll know what you'll need to budget for by way of repairs.</li>
</ol>
Knowledge is power: happy house hunting!
Kate Ashmor is the principal of her own law firm, <a href="https://www.ashmorlegal.com.au" target="_blank">Ashmor Legal</a>, focusing on conveyancing. She also serves as deputy chair of Caulfield Park Bendigo Bank and as a board member of Alola Australia. She's the immediate past president of Australian Women Lawyers and <a href="https://www.womensagenda.com.au/" target="_blank">Women's Agenda</a>'s chief legal columnist.
 
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