<p data-end="587" data-start="368">Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.</p>

<p data-end="778" data-start="589">The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.</p>

<p data-end="907" data-start="780"><a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.</p>

<p data-end="1052" data-start="909">The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.</p>

<p data-end="1311" data-start="1054">The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.</p>

<p data-end="1451" data-start="1313">The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.</p>

<p data-end="1676" data-start="1453">MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.</p>

<p data-end="1908" data-start="1678">Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.</p>

<p data-end="2142" data-start="1910">The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.</p>

<p data-end="2142" data-start="1910"><img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" /></p>

<p data-end="2308" data-start="2144">MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.</p>

<p data-end="2648" data-start="2310">"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.</p>

<p data-end="2797" data-start="2650">"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."</p>

<p data-end="2938" data-start="2799">The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.</p>

<p data-end="3216" data-start="2940">Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.</p>

<p data-end="3325" data-start="3218">Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.</p>

<p data-end="3442" data-start="3327">"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.</p>

<p data-end="3662" data-start="3444">"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."</p>

<p data-end="3818" data-start="3664">MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.</p>

<p data-end="4076" data-start="3820">"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.</p>

<p data-end="4375" data-start="4078">"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."</p>

<p data-end="4503" data-start="4377">Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.</p>

<p data-end="4741" data-start="4505">"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."</p>

<p data-end="4910" data-start="4743">The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.</p>

<p data-end="4951" data-start="4912">MAYD is targeting an early 2027 launch.</p>


Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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<p data-end="600" data-start="394">Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.</p>

<p data-end="733" data-start="602">But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.</p>

<p data-end="970" data-start="735">Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.</p>

<p data-end="970" data-start="735">[smartcode_project:default project_id=152737 project_image_fid=377679]</p>

<p data-end="1159" data-start="972">The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.</p>

<p data-end="1357" data-start="1161">It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.</p>

<p data-end="3400" data-start="3216">[smartcode_project:default project_id=152737 project_image_fid=377675]</p>

<p data-end="3400" data-start="3216">Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.</p>

<p data-end="1664" data-start="1517">Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.</p>

<p data-end="1826" data-start="1666">Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.</p>

<p data-end="1826" data-start="1666">[smartcode_project:default project_id=152737 project_image_fid=377685]</p>

<p data-end="2045" data-start="1828">Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.</p>

<p data-end="2269" data-start="2047">"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.</p>

<p data-end="2430" data-start="2271">A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.</p>

<p data-end="2606" data-start="2432">It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.</p>

<p data-end="2724" data-start="2608">At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.</p>

<p data-end="2892" data-start="2726">Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.</p>

<p data-end="2892" data-start="2726">[smartcode_project:default project_id=152737 project_image_fid=377680]</p>

<p data-end="3004" data-start="2894">Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.</p>

<p data-end="3214" data-start="3006">"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.</p>

<p data-end="3400" data-start="3216">The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.</p>

<p data-end="3400" data-start="3216">More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.</p>

<p data-end="3670" data-start="3538">&nbsp;</p>

<p data-end="3670" data-start="3538">[smartcode_project_cta:default project_id=152737]</p>

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

<p>A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.</p>

<p>Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.</p>

<p>Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374005]</p>

<p>The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.</p>

<p>Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.</p>

<p>Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374010]</p>

<p>Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.</p>

<p>The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.</p>

<p>“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374002]</p>

<p>“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”</p>

<p>The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.</p>

<p>[smartcode_project_cta:default project_id=150999]</p>


Maréa Residences brings parkside apartments to Coolangatta

<p data-end="535" data-start="324">Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.</p>

<p data-end="717" data-start="537">The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.</p>

<p data-end="918" data-start="719">The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.</p>

<p data-end="1131" data-start="920">PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.</p>

<p data-end="1131" data-start="920"><img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" /></p>

<p data-end="1318" data-start="1133">Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.</p>

<p data-end="1433" data-start="1320">The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.</p>

<p data-end="1658" data-start="1591">A significant component of The One will be its residential amenity.</p>

<p data-end="1864" data-start="1660">More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.</p>

<p data-end="2011" data-start="1866">The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.</p>

<p data-end="2011" data-start="1866"><img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" /></p>

<p data-end="2191" data-start="2013">The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.</p>

<p data-end="2365" data-start="2193">PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.</p>

<p data-end="2473" data-start="2367">“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.</p>

<p data-end="2775" data-start="2475">“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”</p>

<p data-end="2943" data-start="2777">The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.</p>

<p data-end="3145" data-start="3001">PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.</p>


PDG secures approval for $1.5bn Southbank apartment development, The One

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p>Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.</p>

<p>While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;</p>

<p>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>.</p>


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

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<p><span>GUEST OBSERVER</span></p>
<p><span>Suburbs such as Fitzroy and East Melbourne have historically strong capital gains. </span></p>
<p><span>Conventional wisdom is that by investing in neighbouring suburbs that have lower median prices, an investor would achieve stronger growth than in the blue chip suburb. </span></p>
<p><span>This is because they would benefit from the spillover effect of buyers being unable to afford the blue chip locations and the subsequent gentrification of the suburb. </span></p>
<p><span>We have analysed the growth of 5 bride and bridesmaid suburb pairs in inner Melbourne. </span></p>
<p><span>A bride suburb is a relatively expensive suburb with good capital gains. It may be out of reach for a large proportion of property investors due to the high entry point. </span></p>
<p><span>A bridesmaid suburb is a neighbouring suburb that boasts a lot of the qualities that make the bride such a good investment, yet with properties selling for much lower prices. </span></p>
<p><span>To compare, the median sale prices and annual growth rates since 2011 for all suburbs shown in Figure 1 were gathered. </span></p>
<p><a href="/images/2016/08/02/Screen%20Shot%202016-08-02%20at%209.44.23%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
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<p><span>These suburbs were divided into suitable pairs, based on locality and differences in median prices. The results are shown in Table 1 below.</span></p>
<p><span>This data tells us that while entry points for bridesmaid suburbs may be considerably lower, bride suburbs still offer better returns. This is most likely a reflection of these areas being more desirable and having a lower turnover rate, resulting in reduced supply, than their cheaper neighbours. While the average property in Brunswick East can be bought </span>for $150,000 less than comparable properties in Carlton North, median growth over the past five years has been half as good. The best alternative in the list is Kensington, where properties grew in price on average only 0.2 percent less than properties in North Melbourne, while being on the market for about $115,000 less.</p>
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<p><span>To conclude, it is often not the suburb that determines your returns, but rather selecting the right property for the right price. Great returns are possible in almost all of inner Melbourne, provided that the property selected meets the right value criteria.</span></p>
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<p><span><em>For more information, <a href="https://secretagent.com.au/" target="_blank">click here</a>.</em></span></p>
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jchancellor-FAypfDUnLy

Melbourne's bride and bridesmaid suburbs: Secret Agent

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<p>The top sale for the week was a four bedroom home in Sydney's northern suburb of Palm Beach according to CoreLogic.</p>
<p>The home, 111 Pacific Road Palm Beach, sold for $3,700,000 through LJ Hooker Palm Beach</p>
<p>Top ten sales</p>
<p>111 Pacific Road, Palm Beach, NSW 4 bed, 3 bath, 2 car house $3,700,000 LJ Hooker Palm Beach </p>
<p>395 Fairlight Road, Mulgoa, NSW 5 bed, 3 bath, 3 car house $3,210,000 Elders Real Estate Penrith </p>
<p>18 Cameron Street, Strathfield, NSW 5 bed, 4 bath, 2 car house $3,150,000 McGrath Estate Agents </p>
<p>1 First Avenue, Rodd Point, NSW 5 bed, 2 bath, 2 car house $3,101,000 Strathaven Realty Haberfield </p>
<p>34 Alfred Street, Kew, Vic 3 bed, 2 bath, 2 car house $3,065,000 Kay &amp; Burton Hawthorn </p>
<p>41 Wentworth Street, Randwick, NSW 4 bed, 2 bath house $3,050,000 Phillips Pantzer Donnelley Woollahra </p>
<p>47 Palm Avenue, Ascot, Qld 6 bed, 3 bath, 4 car house $3,000,000 Ray White Ascot </p>
<p>114 Kameruka Road, Northbridge, NSW 4 bed, 2 bath, 1 car house $3,000,000 Richardson &amp; Wrench Northbridge </p>
<p>5 Glen Avenue, Randwick, NSW 3 bed, 1 bath house $2,860,000 Ray White Randwick </p>
<p>3/70 Fletcher Street, Bondi, NSW 2 bed, 1 bath unit $2,800,000 Phillips Pantzer Donnelley Woollahra </p>
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jonathanchancellor-7SQnKwU6yx

Palm Beach sale leads Corelogic top ten

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<p><span>GUEST OBSERVER</span></p>
<p><span>Britain’s vote to leave the EU on 23rd June 2016 and the subsequent political and constitutional turmoil that followed in its wake, introduced a very large dose of uncertainty into investment markets not only in the UK and the EU, but globally and so changed both the sum total and distribution of risk dramatically. </span></p>
<p><span>While some markets have realised that this perception of risk was overdone in certain sectors, and have recovered markedly, others remain subdued or have rallied only moderately. Some markets such as gold, the Yen and US dollar have strengthened signi cantly while Sterling, Euros and UK stocks, particularly REITs and construction, are still down (see Figure 1). </span></p>
<p><span>Unlike these assets, there is no real- time trading data in directly owned real estate so it will not be possible to precisely assess the impact of Brexit in either pricing or turnover terms </span>for at least a few months but it is possible to look at the characteristics of property against other assets to begin to understand its potential positioning.</p>
<p><a href="/images/2016/07/29/Screen%20Shot%202016-07-29%20at%208.51.35%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/29/Screen%20Shot%202016-07-29%20at%208.51.35%20AM.png" alt=""></p>
<p><span>To do this, we consider in this note not only the key qualities of real estate in relation to other asset classes but also the relative position of different geographies. The following sections look at real estate in relation to: </span></p>
<p><span>1. Interest rates<br> 2. Exchange rates<br> 3. Geopolitical and cyclical risk </span></p>
<p><span>The key themes that emerge are: </span></p>
<p><span>Globally, real estate will increasingly be sought after as an income-producing investment, with decreasing emphasis on capital growth, particularly where bond yields are low or have even turned negative. </span></p>
<p><span>The role of property in providing a safe store of wealth in ‘safe haven’, secure title, jurisdictions will come to the fore although this will be tempered by currency risk in places where currency may move down further against the investor currency. </span></p>
<p><span>A focus on real estate occupier fundamentals, and their impact on rental returns and prospects for rental growth, is inevitable and may present investment opportunities over coming months. </span></p>
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<p><span>Buying opportunities will be most apparent for those with large war-chests and in dollar- denominated or Yen currencies who were already waiting for cyclical buying opportunities in some fully valued markets. This activity will </span>be tempered by fear of economic downturns but, again, the longer- term nature of real estate investment will come to the fore.</p>
<p><span>Leveraged investors will be less prominent and opportunistic and unconventional investors with cash will be the most active globally. This may mean a larger proportion of private investors once again active in the market.</span></p>
<p><a href="/images/2016/07/29/Screen%20Shot%202016-07-29%20at%208.52.48%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2016/07/29/Screen%20Shot%202016-07-29%20at%208.52.48%20AM.png" alt=""></span></p>
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<p><span>Interest rates and yields </span></p>
<p><span>In the face of rising global risk (and in the expectation of Bank of England base rate cuts), there appears to have been a ight to safety in the form of government bonds. At the end of June, the UK joined Japan and Germany in experiencing short-term negative bond rates (see Figure 2). </span></p>
<p><span>Expectations before the referendum were that UK and US base rates would start to move out in the near future. Fears in some fully valued markets were that rental growth would not keep pace. With expectations once again that base rates will stay lower for longer, or even drop, property yields have longer to move out and are more likely to do so through rental growth rather than capital contraction. </span></p>
<p><span>When the opportunity cost of money turns negative, any income- producing asset must start to have particular attractions. This potentially puts real estate into a new and different class for as long as the majority of tenants continue to pay rent. Under these circumstances, we expect fully let properties of all use types and classes with low void rates in deep markets to remain an essential part of any well-balanced investment portfolio. </span></p>
<p><span>However, we expect this also means that the fundamentals and the future prospects of both the market and the property will be carefully scrutinised by investors before purchase.</span></p>
<p><a href="/images/2016/07/29/Screen%20Shot%202016-07-29%20at%208.53.52%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2016/07/29/Screen%20Shot%202016-07-29%20at%208.53.52%20AM.png" alt=""></span></p>
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<p><span>When the world is searching for income, investors are likely to be looking for both quality AND value. </span></p>
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<p><span>Exchange rates </span></p>
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<p><span>UK and European property has become signi cantly cheaper for US dollar and related currencies and especially for holders of Japanese Yen. </span></p>
<p><span>We do not think these currency changes will give every dollar buyer a desire to buy UK and European real estate but it does mean that investment buyers will become increasingly focused on the fundamentals of yield levels and rental growth prospects. Real estate will look good value where these are present, particularly as expectations of more global volatility rise. The world is faced with further UK, US and European political change and elections, to cite just one element of risk, for example.</span></p>
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<p><span>The credit rating of the UK was instantly downgraded on the 24th June when the referendum results were known and sterling plummeted against most other currencies, </span>even the euro which also suffered devaluation against the US dollar.</p>
<p><span>Currency volatility has added to the risks of placing investments in Euros or sterling for the moment but also offers opportunities for those holding US dollars, other dollar- pegged currencies and Yen to buy assets more cheaply. Figure 3 shows how currencies have moved since the eve of the referendum. </span></p>
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<p><span>UK and European property has become significantly cheaper for US dollar and related currencies and especially for holders of Japanese Yen. We do not think these currency changes will give every dollar buyer a desire to buy UK and European real estate but it does mean that investment buyers will become increasingly focused on the fundamentals of yield levels and rental growth prospects. Real estate will look good value where these are present, particularly as expectations of more global volatility rise. The world is faced with further UK, US and European political change and elections, to cite just one element of risk, for example. </span></p>
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<p><span>Geopolitical and cyclical risk</span></p>
<p><span>Long before the Brexit vote, some degree of geopolitical risk related to the Eurozone seems to have already been priced into European real estate markets. Prime of ce investors at the end of last year, for example, were buying London on the same level of net effective yield, adjusted for bond rates, as other major world cities like New York and Hong Kong while Eurozone cities such as Paris, Frankfurt and Brussels had not seen the same degree of yield compression and some were being priced on the same risk-adjusted net effective yields as Chengdu and Manila (see Figure 4). </span></p>
<p><span>Yields have since moved in signi cantly in many European cities but some global investors' appetite for Euro denominated assets in a region of political uncertainty may have been somewhat impaired compared to other world regions. Global markets appear to think that the EU is not out of the woods yet. </span></p>
<p><span>Conclusion </span></p>
<p><span>In the very early days of global post Brexit reaction, and indeed in the days preceding it, stock market volatility has increased dramatically. Meanwhile, yields on lower-risk government bonds – even UK ones, have moved in, not out since the referendum. The search for safety is still on and the prospects for negative interest rates seems to have increased. </span></p>
<p><span>There is still appetite from global investors to put their money somewhere. It is becoming increasingly difficult to nd asset classes and sectors which offer stable incomes and stability or safe </span>haven status. The price of gold, for example, rose by 6.4%, from US$1,253/ounce to US$1,333 over the four days to June 27th. Some other real assets, particularly real estate, may look only slightly less attractive to certain investors, particularly those seeking income as well as diversi cation.</p>
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<p><span>There is a point, especially in countries with negative interest rates, like Japan, when the yield available from real estate in countries with secure tenure and socially </span>safe environments and transparent markets looks compelling, despite increased risk and volatility. This is especially the case for cash investors seeking mid and long-term income streams. Recent currency strength, especially if it is expected to be temporary, makes the purchase of sound Sterling or Euro denominated rental income look cheap.</p>
<p><span>While expectations of economic growth may be receding in certain quarters, some cities and some countries are likely to do better than others and it is the most stable, high yielding sectors in safe jurisdictions that investors will increasingly be looking for. </span></p>
<p><span>Performance will be found, as always, in real estate locations where there is steady demand from growing populations, security of title, market transparency, limited supply plus long-term economic and growth prospects. Investors are likely to be looking for all these quality factors but looking for value too in the form of higher yields. Returns will be further enhanced in places where the currency strengthens over time so that income returns to foreign currency investors are improved. </span></p>
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<p><em>Yolanda Barnes is director, World Research at Savills and can be contacted <a href="https://www.savills.com" target="_blank">here</a>.</em></p>
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The Brexit impact on global real estate: Yolande Barnes

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<p>One new property is featured on the top ten discount list from SQM Research in number nine.</p>
<p>The property, 6 York Street South Perth, first came on the market in august 2015 with an initial price of $2.8 million according to SQM Research managing director Louis Christopher.</p>
<p>He said the vendor slashed the price down to $2.5 million in February 2016, then again this month to just $2 million making for a total reduction of $800,000.</p>
<p>"The property is definitely not your typical three-bedroom home with three generous sized bedrooms, two &amp; a half baths, office, master retreat and a double under-croft garage," he said.</p>
<p>"The vendor says that the 'executive residence' has never been lived in, and is ‘second to none with luxurious and breathtaking features’.</p>
<p>"The home is modern with plenty of natural lighting and contemporary features including a modern terrace and garden with custom designed water feature. The kitchen is open plan with Miele kitchen appliances, ceaserstone bench tops, and walk in pantry. Bonus features include a six person lift, video intercom, reverse cycle air-conditioning, ducted vacuum system and plenty of space for storage."</p>
<p><a href="/images/2016/07/28/Screen%20Shot%202016-07-28%20at%2010.20.58%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/28/Screen%20Shot%202016-07-28%20at%2010.20.58%20AM.png" alt=""></p>
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South Perth entry on top ten discount list from SQM Research

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<p>GUEST OBSERVER</p>
<p>The latest quarterly housing market sentiment survey by CoreLogic and TEG rewards revealed that almost two thirds of Australians think now is a good time to be purchasing residential property while roughly the same proportion believed the housing market is vulnerable to a significant correction.</p>
<p>The latest CoreLogic and TEG Rewards Housing Market Sentiment Survey highlights the paradox in housing market attitudes, with the large majority of survey respondents indicating that it’s a good time to buy a home at a time when the market may be vulnerable to a significant downturn.</p>
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<p><img src="/images/2016/07/27/Screen%20Shot%202016-07-27%20at%2010.46.30%20AM.png" alt=""></p>
<p>Of the 2,432 Australian residents who participated in the June quarter CoreLogic TEG Rewards Housing Market Sentiment Survey, 64 percent of respondents thought it was a good time to buy a dwelling, up from 60 percent of respondents a year ago.</p>
<p>Sydney-based respondents, where affordability constraints are the most pressing of any capital city, were the most pessimistic about whether now is a good time to buy a property, however slightly more than half the respondents still felt it was a good time to buy.</p>
<p>Conversely, the regions where dwelling values have peaked and shown a downturn are where respondents are most confident about buying conditions. 80% or more of respondents in the Northern Territory, Regional Western Australia and Perth indicated they thought it was a good time to buy.</p>
<p><a href="/images/2016/07/27/Screen%20Shot%202016-07-27%20at%2010.47.51%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/27/Screen%20Shot%202016-07-27%20at%2010.47.51%20AM.png" alt=""></p>
<p>With such as a large proportion of survey respondents thinking that now is a good time to buy a dwelling, it was surprising to see almost two thirds (65 percent) also indicated they thought dwelling values could suffer a significant correction. While the results suggest that survey respondents are concerned there could be a substantial fall in Australian home values, the proportion is lower from a year ago when 75% of respondents thought the market was vulnerable to a significant correction in values.</p>
<p>When asked whether dwelling values would rise, fall or remain steady over the next twelve months, the majority of respondents expected values to remain steady, with Tasmanians the most optimistic about the direction of value growth over the next twelve months.</p>
<p>Nationally, 38 percent of respondents are expecting dwelling values to rise over the next twelve months. In contrast, a year ago 45% of respondents thought values would rise, indicating that respondents have become less optimistic with regards to their views on capital gains over the next financial year.</p>
<p>For rental market conditions, only 11 percent of survey respondents are expecting weekly rents to fall over the next twelve months, despite the CoreLogic rental series showing the weakest rental conditions in at least two decades.</p>
<p><a href="/images/2016/07/27/Screen%20Shot%202016-07-27%20at%2010.48.50%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/27/Screen%20Shot%202016-07-27%20at%2010.48.50%20AM.png" alt=""></p>
<p>Nationally, almost equal numbers of survey respondents indicated that weekly rents would either rise or remain stable over the coming twelve months, however there were some considerable variations across the regions.</p>
<p><a href="/images/2016/07/27/Screen%20Shot%202016-07-27%20at%2010.49.44%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/27/Screen%20Shot%202016-07-27%20at%2010.49.44%20AM.png" alt=""></p>
<p>Less than one fifth of respondents in Perth and Regional Western Australia think weekly rents will rise. The low expectation of rental rises in these areas is in line with current rental statistics which show ongoing falls in weekly rents across most parts of Western Australia.</p>
<p><em>Tim Lawless is head of the CoreLogic research and analytics team and can be contacted <a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank">here</a>.</em></p>
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Two thirds of Australians think now is a good time to be purchasing residential property: Tim Lawless

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<p>The top sale for the week ending July 24 was a four bedroom home in the Sydney suburb of Paddington, according to CoreLogic.</p>
<p>The property, 304 Jersey Road, Paddington, sold for 6,850,000 through Ray White Woollahra.</p>
<p> </p>
<p>Top ten</p>
<p>304 Jersey Road, Paddington, NSW 4 bed, 5 bath, 2 car house $6,850,000 Ray White Woollahra  </p>
<p>53/93 Elizabeth Bay Road, Elizabeth Bay, NSW 3 bed, 2 bath, 2 car unit $5,800,000 Richardson &amp; Wrench Elizabeth Bay/Potts Point </p>
<p>5/42 Macleay Street, Elizabeth Bay, NSW 3 bed, 2 bath, 1 car unit $4,000,000 Richardson &amp; Wrench Elizabeth Bay/Potts Point </p>
<p>22 Greig Street, Albert Park, Vic 3 bed, 2 bath, 2 car house $3,755,000 Greg Hocking Holdsworth Albert Park </p>
<p>95 Livingstone Avenue, Pymble, NSW 4 bed, 4 bath, 2 car house $3,650,000 Luschwitz Real Estate Pymble </p>
<p>190 Nelson Street, Annandale, NSW 5 bed, 3 bath, 2 car house $3,200,000 Callagher Estate Agents Annandale </p>
<p>70 Surfview Road, Mona Vale, NSW 3 bed, 2 bath, 2 car house $3,050,000 LJ Hooker Mona Vale </p>
<p>91 Paddington Street, Paddington, NSW 3 bed, 3 bath, 2 car house $3,000,000 Ray White Woollahra </p>
<p>28A College Road, Riverview, NSW 5 bed, 4 bath, 2 car house $2,925,000 McGrath Estate Agents </p>
<p>19 Bathurst Street, Woollahra, NSW 3 bed, 2 bath, 1 car house $2,800,000 Phillips Pantzer Donnelley Woollahra </p>
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Paddington trophy sale leads CoreLogic top ten

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<p>SPONSORED POST</p>
<p>As an investor, you’ll want to minimise the amount of tax you pay on your rental property and ensure the process of completing tax returns run as smoothly as possible. Here are some tips to help.</p>
<p>1. Keep paperwork in order from the start. Record all up-front expenditure when buying your investment as initial expenses form part of the property’s cost base and can help cut capital gains tax when you sell. Carefully file all investment-related receipts throughout each year to minimise headaches at tax time.</p>
<p>2. Pre-pay interest and other expenses if it makes sense for you.</p>
<p>3. When considering whether to repair or replace an appliance or fixture, remember repairs can be claimed in the tax year in which they were incurred while replacements often need to be depreciated over the item’s lifespan. This could make a difference to your investment’s costs and your annual tax bill.</p>
<p>4. Consider obtaining a depreciation schedule. These do cost but they may allow you to claim deductions for capital works and assets such as appliances that save thousands in tax over the time you own the investment. </p>
<p>5. Handle tax in the same way as the names on the property title: if the property is held equally in joint names, for example, you both need to declare half the income and claim half expenses in your tax returns.</p>
<p>6. Beware of redrawing on your investment property mortgage for personal use. This changes the amount of interest you can claim as a tax deduction and may affect whether your property is positively or negatively geared.</p>
<p>7. Try to time the sale of your investment property so it settles in a year when your taxable income will be lower. This might mean waiting until you retire, take a break from work or start a business, for example.</p>
<p>8. If you plan to dispose of a loss-making investment, try to sell in the same year as a profit-making investment property so you can use the loss to reduce your net capital gain, and therefore your tax bill. Remember to offset capital losses from previous years against current-year gains.</p>
<p>9. Seek advice before buying property through a self-managed superannuation fund. There can be tax advantages but there are fewer benefits to negative gearing through super. There are also restrictions on what you can do with your rental property that don’t apply to investments you directly own – such as renovating and renting to relatives or friends.</p>
<p>10. Seek professional tax advice to ensure you’re claiming all you’re entitled to. </p>
<p><span>To download a free ebook on new financial year taxation tips for property investors,</span><a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/55208-new-financial-year-tax-planning-tips-for-property-investors" target="_blank"> click here</a><span>.</span></p>
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po-LsXgBTHBmX

Minimise the amount of tax paid on rental property investment

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<p>Unlicensed property agent work is against the law.</p>
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<th id="table00388r1c1">Offence</th>
<th id="table00388r1c2">Maximum penalty</th>
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<p>Working without a licence or registration</p>
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<td headers="table00388r1c2">
<p>$24,380 or 2 years imprisonment</p>
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<p>Employing a person who in unlicensed and unregistered</p>
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<td headers="table00388r1c2">
<p>$24,380 or 2 years imprisonment</p>
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<p>Selling, hiring or lending out a licence or registration</p>
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<td headers="table00388r1c2">
<p>$24,380</p>
</td>
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<h2>Dealing with licences</h2>
<h3>Serious offences</h3>
<p>We will cancel your licence if you’re convicted of:</p>
<ul>
<li>violent offences (including threats to use violence)</li>
<li>fraud or dishonesty offences</li>
<li>drug trafficking</li>
<li>extortion</li>
<li>arson</li>
<li>unlawful stalking</li>
<li>an offence of a sexual nature.</li>
</ul>
<p>You will have 14 days to return your licence to us. The maximum fine for failing to do so is $12,190.</p>
<h3>Change of details</h3>
<p>You must advise us in writing within 14 days about any changes to:</p>
<ul>
<li>personal details</li>
<li>any aspect of your licence.</li>
</ul>
<p>The maximum fine for failing to do so is $12,190.</p>
<h3>Produce licence on request</h3>
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<th id="table77016r1c1">Offence</th>
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<p>Failing to show a licence or certificate of registration to an inspector</p>
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<p>$24,380</p>
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<p>Failing to show a copy of a licence or certificate of registration to a potential buyer, client or other party after they ask to see it</p>
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<td headers="table77016r1c2">$12,190</td>
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<h3>Substitute licensee</h3>
<p>You must follow the rules when appointing a substitute licensee. If you do not, you risk being fined.</p>
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<p>Not having the consent and evidence of appointment at the office</p>
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<p>$12,190</p>
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<p>Not lodging extension of appointment substitute licence for more than 30 days</p>
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<p>$24,380</p>
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<p>Acting as licensee while you have a substitute appointed</p>
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<p>$24,380</p>
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<p>Not having a licensee or registered salesperson in charge of place of business</p>
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<p>$24,380 (individual)<br>$12,190 (corporation)</p>
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<p>Having a real estate salesperson in charge of a place of business if their conditions or registration prohibit this</p>
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<p>$24,380 (individual)<br>$12,190 (corporation)</p>
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<h2>Documentation</h2>
<p>You must make sure that you:</p>
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<li>complete all of your documents correctly</li>
<li>give copies to consumers when the law says you need to.</li>
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<h3>Appointment</h3>
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<p>Acting for a client without a written appointment to act</p>
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<p>$24,380</p>
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<p>Not giving a copy of the appointment to act</p>
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<p>Acting for more than 1 party to a transaction</p>
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<p>$24,380</p>
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<p>Not explaining the relevant details of a sole or exclusive agency appointment</p>
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<td headers="table10091r1c2">
<p>$24,380</p>
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<h3>Supply of documents</h3>
<table id="table50978" class="striped" border="1">
<thead><tr>
<th id="table50978r1c1">Offence</th>
<th id="table50978r1c2">Maximum penalty</th>
</tr></thead>
<tbody><tr class="even">
<td headers="table50978r1c1">
<p>Failing to include the warning statement in the required section of a sale contract</p>
</td>
<td headers="table50978r1c2">
<p>$24,380</p>
</td>
</tr></tbody>
</table>
<h3>Disclosure</h3>
<table id="table37835" class="striped" border="1">
<thead><tr>
<th id="table37835r1c1">Offence</th>
<th id="table37835r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table37835r1c1">
<p>Non-disclosure of benefit to buyer</p>
</td>
<td headers="table37835r1c2">
<p>$24,380</p>
</td>
</tr>
<tr>
<td headers="table37835r1c1">
<p>Not disclosing a beneficial interest to a seller</p>
</td>
<td headers="table37835r1c2">
<p>$24,380 or 3 years imprisonment</p>
</td>
</tr>
<tr class="even">
<td headers="table37835r1c1">
<p>Charging a buyer’s premium on goods connected to a real property without getting the consent of the owner and/or not disclosing a buyer's premium is payable on goods</p>
</td>
<td headers="table37835r1c2">
<p>$24,380</p>
</td>
</tr>
</tbody>
</table>
<h3>Commission</h3>
<table id="table42495" class="striped" border="1">
<thead><tr>
<th id="table42495r1c1">Offence</th>
<th id="table42495r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table42495r1c1">
<p>Claiming commission worked out on an amount more than the actual sale price</p>
</td>
<td headers="table42495r1c2">
<p>$24,380</p>
</td>
</tr>
<tr>
<td headers="table42495r1c1">
<p>Retaining or suing for commission when not entitled (for example, not licensed or not authorised to act)</p>
</td>
<td headers="table42495r1c2">
<p>$24,380</p>
</td>
</tr>
</tbody>
</table>
<h2>Trust account offences</h2>
<p>It is in an offence to steal or misuse trust monies. You risk a fine and imprisonment if you break the law.</p>
<h3>Trust money</h3>
<table id="table47002" class="striped" border="1">
<thead><tr>
<th id="table47002r1c1">Offence</th>
<th id="table47002r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table47002r1c1">
<p>Wrongful conversion and false accounts</p>
</td>
<td headers="table47002r1c2">
<p>$12,190 or 5 years imprisonment</p>
</td>
</tr>
<tr>
<td headers="table47002r1c1">
<p>Unauthorised use of trust account</p>
</td>
<td headers="table47002r1c2">
<p>$24,380 or 2 years imprisonment</p>
</td>
</tr>
<tr class="even">
<td headers="table47002r1c1">
<p>Trust monies are not banked immediately (to trust account)</p>
</td>
<td headers="table47002r1c2">
<p>$24,380 or 2 years imprisonment</p>
</td>
</tr>
<tr>
<td headers="table47002r1c1">
<p>Banking of non-trust monies to a trust account</p>
</td>
<td headers="table47002r1c2">
<p>$24,380 or 1 year imprisonment</p>
</td>
</tr>
<tr class="even">
<td headers="table47002r1c1">
<p>Licensee does not account to client</p>
</td>
<td headers="table47002r1c2">
<p>$24,380 or 2 years imprisonment</p>
</td>
</tr>
</tbody>
</table>
<h3>Audit reports</h3>
<table id="table71648" class="striped" border="1">
<thead><tr>
<th id="table71648r1c1">Offence</th>
<th id="table71648r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table71648r1c1">
<p>Failing to appoint an auditor</p>
</td>
<td headers="table71648r1c2">
<p>$24,380 or 1 year imprisonment</p>
</td>
</tr>
<tr>
<td headers="table71648r1c1">
<p>Failing to lodge audit report within time limit</p>
</td>
<td headers="table71648r1c2">
<p>$24,380 or 2 years imprisonment</p>
</td>
</tr>
<tr class="even">
<td headers="table71648r1c1">
<p>Failing to lodge a final audit within 2 months of ceasing to be a principle licensee</p>
</td>
<td headers="table71648r1c2">
<p>$24,380 or 2 years imprisonment</p>
</td>
</tr>
</tbody>
</table>
<h3>Offences by auditors</h3>
<table id="table00876" class="striped" border="1">
<thead><tr>
<th id="table00876r1c1">Offence</th>
<th id="table00876r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table00876r1c1">
<p>Auditor does not file advice immediately of irregularities to Chief Executive</p>
</td>
<td headers="table00876r1c2">
<p>$24,380 or 1 year imprisonment</p>
</td>
</tr>
<tr>
<td headers="table00876r1c1">
<p>Auditor fails to notify Chief Executive when denied access to other records</p>
</td>
<td headers="table00876r1c2">
<p>$24,380 or 1 year imprisonment</p>
</td>
</tr>
<tr class="even">
<td headers="table00876r1c1">
<p>Auditor fails to supply report to licensee</p>
</td>
<td headers="table00876r1c2">
<p>$24,380 or 1 year imprisonment</p>
</td>
</tr>
</tbody>
</table>
<h2>Inspector's powers</h2>
<p>Inspectors have the legal authority to make sure that you don’t break the law. You must follow their lawful directions, or you risk a fine.</p>
<table id="table25521" class="striped" border="1">
<thead><tr>
<th id="table25521r1c1">Offence</th>
<th id="table25521r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table25521r1c1">
<p>Failure to comply with warrant, produce documents or provide information to an inspector</p>
</td>
<td headers="table25521r1c2">
<p>$24,380</p>
</td>
</tr>
<tr>
<td headers="table25521r1c1">
<p>Failure to give name and address to an inspector in certain circumstances</p>
</td>
<td headers="table25521r1c2">
<p>$6,095</p>
<p> </p>
</td>
</tr>
</tbody>
</table>
<p>For more information, <a href="https://www.qld.gov.au" target="_blank">click here.</a></p>
</body></html>

Property 101: Queensland property industry breaches and penalties

<html><body>
<p>There are so many mixed messages at the moment about the property market. Not that there is just the one market. Sometimes the data assists, but more often it downright confuses.</p>
<p>Hence I was interested to glean insights on Sydney's residential off-the-plan property market from the market leaders, CBRE Residential.</p>
<p>Last year their well-engineered Saturday morning off the plan sales endeavours triggered near 100 percent whole block sellouts, but not any more. These days it's around 70 percent.</p>
<p>Indeed Sydney had returned to a “new normal”, the CBRE Residential managing director, David Milton suggested. </p>
<p>He's there at the showroom coalface so is able to combine the data with strong anecdotal insights.</p>
<p>He says his team's sales volume has dropped by 22 per cent although enquiries are actually up 11 percent. With more two bedders in the mix their average sale price rose over the year from $959,000 to $1.139 million.</p>
<p>“What we’re seeing is people being more particular about what they buy," he said.</p>
<p>He noted it was reflected in the enquiry conversion rate – which in the four months to the end of May saw 20,569 new enquiries resulting in 990 sales. In the same four months last year there had been 18,542 new enquiries resulting in 1,268 sales.</p>
<p>It didn't help that after the election was called on May 7 that enquiries were down 47 percent on 2015 enquiries.</p>
<p>However the return to more natural pace than recent times was more due to banks tightening lending for investors and also the FIRB buyer restrictions.</p>
<p>CBRE has seen the percentage of sales to investors drop from 60 percent to 51 percent as owner occupiers take up the slack. First home buyers secured just 8 percent of their developer stock which started from $420,000, up from the low a year earlier of $380,000.</p>
<p>With 16 of its past projects reaching contract settlements so far this year, Milton advised they'd secured a 99 percent settlement rate, despite higher lender caution.</p>
<p>“Supply in Sydney has peaked,” Milton concluded. New supply will slow due to development funding restrictions, while some sites will be put on hold.</p>
<p>But he expects the larger number of owner occupier buyers this year will drive demand and price increases for high-end apartments. Only 10 percent of their sales were three bedroom apartments, with 62 percent being two bedders and 28 percent one bedroom sales.</p>
<p>No sign of any price correction as apartments launched this year include Essence in Double Bay where prices peaked at nearly $33,000 per square metre, The Hensley in Potts Point selling for up to $32,000 per square metre, and Iconic in Waterloo in excess of $25,000 per square metre. It was up to $25,000 at Chatswood Place. Parramatta's Promenade launch in March - where prices started at $535,000 - secured sales at up to $11,600 psm.</p>
<p>Although the cost of buying property in Australia has increased for foreign buyers and lending is more restricted, David Milton does not foresee a long-term impact on demand from these buyers.</p>
<p>“There are some short term settlement issues with FIRB buyers, but longer-term they will find a solution."</p>
<p>Offshore funded sales will continue to account for a significant part of the market, he says. </p>
<p><em>This article was first published in the Saturday Daily Telegraph.</em></p>
</body></html>

Owner occupiers to drive OTP demand: CBRE's David Milton

<html><body>
<p><span>A freehold property in Melbourne’s inner suburb of Windsor has been snapped up by a Melbourne-based investor for $3.94 million at auction.</span></p>
<p>The 7 Duke Street property was offered to the market for the first time in 60 years and the purchase price exceeded the reserve by more than $200,000.</p>
<p>Zoned Commercial 1, the property comprises a two-level, 480 square metre building on a 377 sqm site. The purchase price reflected a land rate of $10,464 per square metre.</p>
<p>Selling agent Teska Carson’s Matthew Feld said the fact that the property had not been on the market for 60 years reflected “the tightly held nature of the local market and the strong result’’. </p>
<p>It is close to the CBD and a stone’s throw from the bayside precinct of St Kilda.</p>
</body></html>

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