Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Property market

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Housing price growth is expected to be contained in the Adelaide market throughout 2017 according to HSBC.
HSBC senior economist Paul Bloxham said the local housing market is dominated by detached dwellings. 
"The South Australian economy is expected to continue to have only modest growth in 2017, keeping housing price growth contained," he said in his 2017 forecast.
Housing price growth of between 4 and 6 percent is expected for 2017 for both detached houses and apartments nationally supported by strong population growth.
Apartment price falls are possible in Brisbane and Melbourne in 2017 due to oversupply.
Low single-digit rates of housing price growth is predicted in 2017 for Sydney.
The end of the mining boom has driven house prices in Perth down throughout 2016, with the trend expected to continue in 2017.
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jonathanchancellor-7SQnKwU6yx

Adelaide house price growth stable: Paul Bloxham's 2017 forecast

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There is still strong support for Australian office markets with Sydney and Melbourne experiencing strong leasing and investment demands, says Australian Unity Office Fund fund manager Grant Nichols.
Nichols said Sydney and Melbourne's metropolitan markets are performing particularly well which has positive implications for AOF, as 56 per cent of their portfolio is weighted to those markets.
"More broadly, investment demand in Australia remains very strong and it appears that current pricing levels will be sustained for at least the short to medium term,” Nichols said.
"Canberra and Brisbane's vacancy rates look to have stabilised while tenant demand remains tepid in Adelaide."
Adelaide's market however remains comparatively attractive from a price point prospecting for both investment and accommodation. 
AOF has completed around 4,400 sqm of leasing since listing in June, with around 4,300 sqm subject to signed heads of agreement.
Combined, this equates to nearly nine per cent of the portfolio over the last five months.
“AOF is well positioned to deliver on its specified objectives, given the leasing completed to date, prevailing market conditions and its strong lease expiry profile.” Nichols said.
Peter Day, independent chairman of Australian Unity Investment Real Estate Limited, said their strategy is to maintain a portfolio diversified by geography, tenants and lease expiry profile through investment into existing property.
“The team has been actively seeking opportunities to help deliver sustainable and growing income returns for investors, by investing in quality Australian office assets in metropolitan and CBD markets."
Talking on the listing, Peter said they raised $152 million through an initial public offering of units and reduced gearing to approximately 30 percent.
The 2016 financial year delivered several highlights for AOF, including:
- Leasing approximately 30 percent of the portfolio
- Providing an average distribution yield of 8.6 percent for the year to 30 June 2016 based on AOF’s net asset value
- Achieving a $14.4 million valuation uplift compared to 30 June 2015
- Successfully refinancing the $140 million debt facility via three and five year tranches.
 
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j.ballantyne1990-6AQqhLzZaK

Commercial property demand to remain strong in 2017

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GUEST OBSERVER
In the upside-down world logic that applies to much of investing, there are a bunch of mistakes investors often make which makes it harder for them to reach their financial goals. 
This looks at the nine most common mistakes investors make. 
Mistake #1 Crowd support indicates safety 
“Bull markets are born on pessimism, grow on scepticism, mature on optimism, and die of euphoria” – John Templeton. 
Individuals often feel safest when investing in an asset when their neighbours and friends are doing the same and media commentary is reinforcing the message that it’s the right thing to do. Call it “safety in numbers”. But it’s invariably doomed to failure. It stands to reason that when everyone is bullish and has bought into an asset with general euphoria about it, there is no one left to buy in the face of more positive supporting news but lots of people who can sell if the news turns sour. 
Of course the opposite applies when everyone is pessimistic and bearish and has sold – it only takes a bit of good news to turn the value of the asset back up. So it turns out that the point of maximum opportunity is when the crowd is pessimistic and the point of maximum risk is when the crowd is euphoric, but unfortunately most don’t realise this because it involves going against the crowd and that’s uncomfortable.
<a href="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2010.14.38%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2010.14.38%20AM.png" alt="">
 
Mistake #2 Current returns are a guide to the future 
“Markets are in a constant state of uncertainty and flux and money is to be made by discounting the obvious and betting on the unexpected” – George Soros. 
Because of difficulties in processing information investors adopt simplifying assumptions, or heuristics. One of these is that recent returns or the current state of the economy and investment markets are a guide to the future: so tough economic conditions and recent poor returns are expected to continue and vice versa for good returns and good economic conditions. The problem with this is that when its combined with the "safety in numbers" mistake it results in investors getting in at the wrong time (eg, after an asset has already had strong gains) or getting out at the wrong time (eg, when it is bottoming). In other words, buying when asset values are high and selling when they are low.
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Mistake #3 Strong growth is good for stocks &amp; vice versa 
“It’s so good it’s bad, it’s so bad it’s good” – Anon. 
This is generally true over the long term and at various points in the economic cycle, but at cyclical extremes it is invariably wrong. The problem is that share markets are forward looking, so when economic data is really strong – measured by strong economic growth, low unemployment, etc – the market has already factored it in. In fact the share market may then fret about rising costs, rising inflation and rising short term interest rates, and hence things are so good they start to become bad! For example, when global share markets peaked in 2007 prior to the GFC economic growth and profit indicators looked good. 
Of course the opposite occurs at market lows. For example, at the bottom of the global financial crisis bear market in March 2009 after 50% plus fall in shares, economic indicators were very poor – unemployment was up, profits were falling and all the talk was about the worst global recession since the Great Depression. And yet share markets started to rebound. History indicates that the best gains in stocks are usually made when the economic news is still poor, as stocks rebound from being undervalued and unloved. In other words, things are so bad they are actually good for investors. 
Mistake #4 Experts can tell you where the market is going 
“There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know” – J.K. Galbraith 
I must admit this one is kind of sensitive! But I have to be real. No one has a perfect crystal ball. It’s well-known that when the consensus of experts' forecasts are compared to actual outcomes they are often out by a wide margin. Forecasts of investment and economic indicators are useful but they need to be treated with care. Usually the grander the forecast - calls for "new eras of permanent prosperity" or for "great crashes ahead" - the greater the need for scepticism as such calls are invariably wrong, either they get the timing wrong or its dead wrong. 
Market prognosticators suffer from the same psychological biases as everyone else. Precise point forecast for say where the share market will be at the end of the year are conditional upon information available when the forecast is made. But they need to be adjusted as new facts come to light. If forecasting investment markets was so easy then the forecasters would be rich and so would have stopped doing it.
The key value of investment experts - or at least the good ones - is to give an understanding of the issues surrounding an investment market and to put things in context. The latter can provide valuable information in terms understanding the potential for the market going forward. This is far more useful than a simple point forecast as to where the ASX 200 will be in a year's time.
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Mistake #5 Letting a strongly held view get in the way 
“The aim is to make money, not to be right” – Ned Davis. 
Many let their blind faith in a strongly held view – “there is too much debt”, “aging populations will destroy share returns”, “global oil production will soon peak”, “the Eurozone will break up”, “an Australian house price crash is imminent”, etc – drive their investment decisions. They could turn out to be right but end up losing a lot of money in the interim. In fact there is a big difference between being right and making money. 
Mistake #6 Looking at your investments too much 
This sounds perverse – surely checking up on how your investments are doing is a good thing? But the danger is that the more investors are exposed to news around their investments the more they may see them going up and down – on a day to day basis it’s close to 50/50 as to whether the share market will be up or down. This “noise” can cause investors to freeze up or worse still it feeds on our natural aversion to any reduction in the value of our investments and thus encourages a greater exposure to lower returning safer investments. 
As a 1997 study by US behavioural economist Richard Thaler found, investors “with the most data [about how their investment is performing] did the worst in terms of money earned”. The trick is to have patience (evidence shows that patient people make better investors because they can look beyond short term noise or are less inclined to jump from investment to investment after they have already run) and turn down the noise. 
Mistake #7 Making investing too complex 
“There seems to be a perverse human characteristic that makes easy things difficult” – Warren Buffett. 
Given the increasing ease of access to investment options, various ways to assemble them and information and processes to assess and evaluate them investment complexity can become the norm. The trouble is that when you overcomplicate your investments it can mean that you can’t see the wood for the trees. 
That you spend so much time focussing on this stock versus that stock or this fund manager versus that fund manager that you ignore the key driver of your portfolio’s risk and return which is how much you have in shares, bonds, real assets, cash, onshore versus offshore, etc. Or that you end up in investments you don’t even understand. So avoid clutter around your investments, don’t fret the small stuff, keep it simple and don’t invest in products you don’t understand. 
Mistake #8 Too conservative early in life 
“How many millionaires do you know who have become wealthy by investing in saving accounts?” – Robert G. Allen. 
Cash and bank deposits are low risk and fine for near term spending requirements and emergency funds but they won’t build wealth over long periods of time. The chart below is one of my favourites and shows the value of $1 invested in various Australian assets since 1900 allowing for the reinvestment of interest and dividends along the way. 
That $1 would have grown to $442,373 if invested in shares but only to $228 if invested in cash. Despite periodic setbacks (WW1, the Great Depression, WW2, stagflation in the 1970s, 1987 share crash, GFC, etc), shares and other growth assets provide much higher returns over the long term than cash and bonds. 
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Not having enough in growth assets can be a particular problem for investors early in their working career as it can make it much harder to adequately fund retirement later in life. Studies in the US have found that millennials (those born between 1980 and 2000) tend to hold more in cash and less in shares than older generations at a time when they should be starting to grow their wealth. Perhaps the tech wreck and the GFC have made them more wary. Fortunately compulsory superannuation in Australia and My Super funds that allocate a higher allocation to growth assets for younger members help manage this. 
Mistake #9 Trying to time the market 
Without a tried and tested asset allocation process, trying to time the market, ie selling before falls and buying ahead of gains is very difficult. Many of the mistakes already referred to above kick in and it can turn out to be a sure way to destroy wealth. Perhaps the best example of this is the comparison of returns if the investor is fully invested in shares versus missing out on the best days. 
Of course if you can avoid the worst days during a given period you will boost returns but this is very hard to do and many investors only get out after the bad returns have occurred, just in time to miss out on some of the best days and so hurt returns. 
The next chart shows that if you were fully invested in Australian shares from January 1995 you would have returned 10.4 percent per annum (including dividends but not allowing for franking credits). But if by trying to time the market you miss the 10 best days the return falls to 7.9 percent pa. If you miss the 40 best days it drops to just 3.4 percent pa. Hence the old cliché that its time in that matters not timing. 
<a href="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2010.16.04%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2010.16.04%20AM.png" alt=""> 
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 SHANE OLIVER is head of investment strategy and chief economist at <a href="https://www.ampcapital.com/" target="_blank">AMP Capital</a>.
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The nine most common mistakes investors make: Shane Oliver

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The longstanding appeal of Australian markets as a destination for core investors globally continues, according to new real estate forecast.
Australia’s popularity is a result of a mature market and relatively high yields, but an acute shortage of investable assets has led to reduced transaction volume in 2016, according to Emerging Trends in Real Estate Asia Pacific 2017, published by the Urban Land Institute and PWC.
Large amounts of foreign capital continue to arrive in Australia looking for deals, although 2015 was the first in many years where domestic purchases were the largest component of investment-grade acquisitions.
This reflects the huge weight of capital that needs to be invested in Australia from domestic pension funds.
“The numbers of investors that are looking for opportunities vastly outweighs the prospects available because the amount of institutional-quality real estate is small,” said John Carfi, ULI Australia chairman and head of residential at Mirvac.
“We have noticed that although foreign investors are generally reluctant to migrate away from the CBD, a lack of available stock means they often have little choice if they want to place capital."
This year’s investment prospects survey shows a strong shift away from last year’s favorites, which featured Sydney and Melbourne, in favor of emerging-market destinations, with two Indian cities topping a list which also includes Vietnam, the Philippines and Shenzhen in 5th position.
Other major survey findings include steep declines in the popularity of gateway cities, with the exception of Shanghai which has seen a resurgence in foreign investment over the last couple of years, despite high prices.
This overarching shift reflects the difficulty in sourcing core assets in an environment where owners have few other places to invest their capital if they sell, together with the growing urgency of investors’ quest for yield as returns are squeezed ever lower.
The top five markets for investment and development in 2017:
• Bangalore (first in investment and development) –The big story for investors has long been the city’s role as India’s main hub for the business process outsourcing (BPO) and IT industries. There is huge demand for space as both domestic and international companies flock to open both call-in and research-and-development centers.
• Mumbai (second in investment, third in development) – Mumbai’s geography has prevented easy expansion of the city’s metropolitan area, which has made it both the most expensive city in India and the slowest growing. However, a major road and rail infrastructure program will allow easier access to the center from outlying areas, with most construction scheduled for completion before 2019.
• Manila (third in investment, fourth in development) –The Philippines continues to attract positive comments, with its vibrant economy led by a booming BPO market and strong remittances from overseas workers. Today, the fundamentals appear as strong as ever. Demand is resilient and vacancies remain low, and office capital values and rents continue to show good growth.
• Ho Chi Minh City (fourth in investment, second in development) –Vietnam is one of the fastest-growing economies in South-east Asia and is probably the most popular real estate investment destination, with capital arriving from numerous sources but in particular from Japan, Singapore, and Hong Kong.
• Shenzhen (fifth in investment, fifth in development) – The major recent talking point for Shenzhen has been its residential sector, where prices have soared more than 40% year on year in the first three quarters of 2016—the fastest in the world. On the commercial side, office rents have been on a steady upward trajectory for years and are now double their level of 2009.
Other findings from the report include the following:
• Core assets continue to be the favored asset class, although product is becoming increasingly hard to source. One way around this is for investors to assume development risk by pursuing “build-to-core” projects. Although these are not traditionally considered a core strategy, many core investors are now willing to adopt this approach, especially when it involves buyers such as insurance companies that are likely to be long-term holders of the end product.
• Investors with a mandate for higher return strategies continue to migrate up the risk curve, both in terms of sectors — pursuing niche strategies such as sub-logistics facilities or data centers — and geographically, with emerging markets such as India drawing increasing attention.
• Investments in metropolitan areas have become a popular theme given ongoing trends of urbanization, land shortages in city centers, and low returns from central business district projects. Cities across the Asia Pacific including Sydney, Shanghai, Mumbai, and Jakarta are engaged in major transportation construction projects that link suburbs or satellite towns to city centers.
• In line with markets in the West, Asia is embracing the shared economy. The last 12 months have seen huge growth in the adoption of shared workspaces, either as standalone businesses that rent open-plan office facilities to individual or corporate users, or on a corporate basis, as large companies scrap conventional office layouts and embrace hot-desking and collaborative working environments. On the residential side, shared spaces are also becoming more prominent as rising prices continue to shrink apartment footprints.
The report, which is being released at a series of events across Asia over the next several weeks, provides an outlook on Asia Pacific real estate investment and development trends, real estate finance and capital markets, and trends by property sector and metropolitan area.
It is based on the opinions of 604 internationally renowned real estate professionals, including investors, developers, property company representatives, lenders, brokers and consultants.
The full report is available here.
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Australian property markets continue to attract global investors

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After adjusting to Brexit, the global real estate sector is now managing a bond rout triggered by the election of Donald Trump to the US presidency  according to Alistair Elliott, chairman, Knight Frank.
In a recent visit to Australia he said  global direct property investment had already dropped from the record levels of 2015 due to a hesitancy about the right time to buy rather than any change in sentiment towards real estate.
"Post the financial crisis, property has had a strong role and I see no sign of that ebbing... in a world where it is difficult to find returns, property is a relatively secure bet," he said.
"We do not expect this [the slowdown in direct real estate investment] to worsen. Indeed as an increasing quantity of investment capital gathers to seek out yield then there is a case to suggest investment volumes may well begin to increase as we get clarity around the new administration's future plans for the USA and with the UK developing an agenda with key trading partners in Europe."
"Melbourne and Sydney [offices] have real growth and that would give confidence to the buyers compared to other cities where rental growth is reaching its peak."
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Global real estate sector managing a Trump bond rout

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There have been increases in all in the capital city home values, even Perth, according to CoreLogic’s latest weekly report.
The property advisory firm says that over the 12 months the capital cities’ home value have increased by 8.5%.
<a href="/images/2016/11/14/Capital%20city%20home%20value%20changes.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/Capital%20city%20home%20value%20changes.jpg" alt="">
The biggest increase was in Sydney where over a 12 month period it had increased by 12% with Perth’s home value declining by 4%.
<a href="/images/2016/11/14/Capital%20city%20properties%20listed.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/Capital%20city%20properties%20listed.jpg" alt="">
The number of listings in Sydney is declining with the number of new listings in Sydney down by 12% with a further reduction of 10% over 12 months for total listings.
In contrast the number of properties in total listed over 12 months in Perth increased 18%.
The total number of new listings in Brisbane has increased by 9%.
<a href="/images/2016/11/14/Capital%20city%20private%20treaty.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/Capital%20city%20private%20treaty.jpg" alt="">
Once again houses dominate the sales compared with units with the most expensive properties being Sydney.
The average price that can be expected in Sydney out of 3,166 sales for houses is $931,850.
On the other hand out of the 1,783 units sold in Sydney the median price was $715,000.
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Home values up across capital cities: CoreLogic

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Darwin properties are taking the longest time to sell, according to CoreLogic’s latest weekly report.
<a href="/images/2016/11/14/Capital%20city%20median%20time.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/Capital%20city%20median%20time.jpg" alt="">
The property advisory firm says that the average time to sell a house in Darwin is 127 days while for units it takes 113 days.
In contrast, in Sydney it takes 26 days to sell a house while for units it takes 27 days to sell.
<a href="/images/2016/11/14/Mortgage%20market%20activity.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/Mortgage%20market%20activity.jpg" alt="">
NSW’s month on month change for mortgage market activity has increased by 13% resulting in an index value of 191.
However for a month on month trend it has declined by 0.4%.
In Tasmania, both month on month and trend has increased with a 10% increase for month on month and 3% in trends resulting in an index value of 92.
<a href="/images/2016/11/14/Listing%20market%20activity.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/14/Listing%20market%20activity.jpg" alt="">
South Australia has the biggest increase in listing market activity with an increase of 22% along with a seasonal increase of 4%.
The listing market activity in Victoria has declined by 3% despite a seasonal increase of 0.4%.
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Darwin takes the longest time to sell property: CoreLogic

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Many home buyers and investors believe the length of time in the market is more important than the timing of the purchase when it comes to making a bigger profit on selling.
There is always a debate about which is more significant.
It was brought home to me in the dearest and cheapest sales last weekend across Sydney. 
An expatriate infrastructure guru sold his Mosman home - a six-bedroom Bradleys Head Road trophy home on 2244 sqm - for around $16 million.
It had set a non-waterfront record for the suburb when it last sold at $7.15 million in 2001, but not this time.
Having generated five percent annual price appreciation, I'd suggest while the quick bullish sale was noteworthy, its price had presumably plateaud for much of the 15 years.
Sydney's cheapest sale was at Harris Park where a two bedroom unit fetched $490,000. It had last sold in 2011 so the $200,000 sale price jump reflected 10 percent annual price growth.
Certainly an impressive gain with the time almost coinciding with the boom that began in 2012 and has continued to run, with a few brief, mild dips along the way.
Yet many stick to the theory of time in the market rather than timing the market.
Anyone can wait and hope as real estate will typically rise over time.
But more money can be made with less duress by investors understanding markets as to where to buy next and when.
Australia comes with very different state-based property market cycles that all have distinct patterns ranging from bottom of the market to the top. 
Sydney is currently a bit like the champion thoroughbred, Lord Fury who won the 1961 Melbourne Cup leading from start to finish.
But beware sometimes Sydney flounders.
Indeed Sydney withstood a challenge as the priciest capital city in which to buy property from Perth during the 2007 mining boom, then from our southern neighbour, Melbourne around 2012.
Today Perth resembles a property basketcase. If you followed the investor boom herd into Perth, then the past few years have shown how the property market can falter, and CoreLogic's head of research Tim Lawless says there no signs the marketplace was yet starting to level out.
Westpac, the nation’s second-biggest mortgage lender revealed this week that 90-day mortgage arrears in Western Australia had rocketed to more than double a year ago.
Overall Australian mortgage arrears of 90 days or more are up 21 basis points compared to 2015, but Perth is up 130 basis points.
Not that it is anything like the last recession as in a total loan book of 1.6 million mortgages, Westpac has only 262 houses in possession – equating to 0.02% of its portfolio.
Westpac chief executive Brian Hartzer said the flow-on impact from the collapse in the mining investment boom had forced the bank to step back from the state.
“We began winding back our exposure in WA a while ago ­because of concerns about what was happening in the mining sector, so although those percentages look relatively high they’re pretty small in the scheme of things in our book,” he said.
“This is being offset by continued low stable delinquencies in NSW where economic activity has been robust."
Many suburban markets across the capital cities typically perform without omnipresent boom-or-bust patterns. 
Of course if you’re canny you can make money no matter what the market is doing, but investors will always make more by running counter to the cycle. 
This article first appeared in the Saturday Daily Telegraph.
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Trick to timing and making a bigger profit when selling property

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October has been one of the strongest months the inner Melbourne property market has seen all year, according to Secret Agent’s latest bulletin report.
It may be an indicator for a strong finish to the end of 2016.
"However, it may also just be a short term fluctuation. Only time will tell," the report stated.
Although, house prices this quarter compared to last are down about 2%, this shows a trend reversal and again highlights the importance of not misinterpreting short-term changes as indicators (noise versus signal), the report argues.
Listings are also up for all property types this month, which (coinciding with higher sale prices) again highlights that demand for Melbourne property is still strong.
Townhouses in inner Melbourne continue to hover around a median of $900,000 and remain well above house prices per square metre: $8,118 compared to $6,852 for houses.
However, in terms of value for money, townhouses almost always have a higher house-to-land ratio, making each square metre more valuable.
“A backyard is probably one of the most valuable assets to possess in inner Melbourne at the moment,” the report advised.
Comparing real (inflation adjusted) house and townhouse prices this month to 12 months ago, prices in all inner regions are well above their previous levels.
Last rolling quarter, median apartment prices decreased by 1.7%.
Again, October has pushed the trend in the other direction; this rolling quarter, apartment prices in the inner suburbs have stabilised (unchanged over the past three months).
Listings are up by over 5%, which is a substantial increase in the otherwise rather stable supply of apartments.
Only Collingwood apartments have managed three consecutive rolling quarters of price increases, while South Melbourne, Brunswick East, Parkville and Prahran have all experienced two or more consecutive rolling quarters of price declines.
CBD apartments in October reached their highest sale prices in real terms so far this year, the report noted.
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October a strong month for inner Melbourne: Secret Agent

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Spring time sees more property settlements and transactions across Australia than any other season, according to leading conveyancing technology experts, GlobalX.
GlobalX CEO Peter Maloney said from September to November the grass is greener, gardens are in full bloom and the weather is comfortably warm, making for optimal house selling conditions.
<a href="/images/2016/11/08/image006.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/08/image006.png" alt="">
Maloney said spring sales were often driven by the desire for a new beginning, with individuals, couples and families preferring to move before the end of the year.
“Buyers who have children prefer to get settled ahead of the new school year, and a spring sale means relocation can take place near or over the holiday period, allowing ample time for unpacking,” he said.
“Similarly, investment properties can be renovated in time for the January-February period, which sees many people searching for rental properties before universities and training institutions begin the academic year.”
This year’s spring sales are off to a strong start, with auction clearance rates over the past nine weeks above 75%, according to CoreLogic’s November market report.
“That puts them at their strongest level in more than a year and only marginally under a five-year high,” Maloney said.
Over the past 12 months, combined capital city home values have increased by 7.5% which is trending up from a recent low of 6.1% at the end of July.
Nationally, capital city home values rose by 9.1% over the first 10 months of 2016, with only two cities, Perth and Darwin, recording falling values over the past quarter.
Annually, home value increases have been strongest in Sydney (10.6%), Melbourne (9.1%) and Canberra (7.9%), Hobart (5%), Adelaide (2.5%) and Brisbane (4.1%), while falls were recorded in Perth (down 3.7%) and Darwin (down 3.8%).
“It’s also worth noting that the average level of discount (to a property’s listed or reserve price) on homes has eased from 6.1% a year ago to 5.8%, so home sellers are coming away with more cash from their sales,” Maloney said.
“It is the same for unit owners, with the average discount reducing slightly from 6.1% a year ago to now 5.5%.”
In a market where Australian residential real estate is worth around $6.7 trillion, six out of every 10 new home listings are currently located in capital cities. However, while the nation’s total mortgage debt of $1.59 trillion represents around 23% of the value of residential real estate; just over half the average Australian’s household’s wealth is invested in housing (51.5%).
“To put the nation’s accumulated mortgage debt into context, the total value of Australia’s residential real estate market is more than three times the funds held in the nation’s superannuation accounts, and just under four times the amount held in Australian listed stocks,” Maloney said.
In the past year, more than 451,000 properties changed hands, with the average house price sitting at $600,000 nationally and the average unit price at $510,000.
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