<p>Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.</p>

<p>The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.</p>

<p>One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278194]</p>

<p><a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.</p>

<p>"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.</p>

<p>"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278196]</p>

<p>The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.</p>

<p>PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.</p>

<p>"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;</p>

<p>"Every apartment was to feel considered, timeless, and highly functional."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278195]</p>

<p>Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.</p>

<p>Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.</p>

<p>The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.</p>

<p>"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.</p>

<p>"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278204]</p>

<p>Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.</p>

<p>Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.</p>

<p>[smartcode_project_cta:default project_id=7395]</p>


Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

<p>Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.</p>

<p><a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.</p>

<p>The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370959]</p>

<p>“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.</p>

<p>The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370964]</p>

<p>“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.</p>

<p>“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=371430]</p>

<p>Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.</p>

<p>Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.</p>

<p>The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.</p>

<p>LPS Group is expected to start construction later this year.</p>

<p>Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

<p>Are mortgage holders set to get a reprieve from the RBA in 2026?</p>

<p>Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.</p>

<p>NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.</p>

<p>“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.</p>

<p>"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.</p>

<p>Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.</p>

<p>“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”</p>

<p>Dr Auld said inflation risks and labour market outcomes would be important to watch.</p>

<p>“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”</p>

<p>She said tighter financial conditions are expected to weigh on housing and activity.</p>

<p>“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”</p>


Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

<p>A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest.<br />
&nbsp;<br />
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>.<br />
&nbsp;<br />
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials.<br />
&nbsp;<br />
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.</p>

<p>[smartcode_project:default project_id=6680 project_image_fid=371325]<br />
&nbsp;<br />
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand.<br />
&nbsp;<br />
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.</p>

<p>“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.”<br />
&nbsp;<br />
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity.<br />
&nbsp;&nbsp;<br />
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project.<br />
&nbsp;<br />
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp;<br />
&nbsp;<br />
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;</p>

<p>[smartcode_project:default project_id=6680 project_image_fid=338516]<br />
&nbsp;<br />
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;</p>

<p>Completion is slated for early 2027.</p>

<p>[smartcode_project_cta:default project_id=6680]</p>


Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

<p>Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.</p>

<p>Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.</p>

<p>The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.</p>

<p>Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.</p>

<p><img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" /></p>

<p>The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.</p>

<p>The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.</p>

<p>According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."</p>

<p>"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.</p>

<p>"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.</p>

<p>"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."</p>

<p>The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.</p>

<p>COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.</p>

<p>The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.</p>

<p><img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" /></p>

<p>Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.</p>

<p>Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.</p>

<p>Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.</p>

<p>"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.</p>

<p>"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a></em></p>

<p>&nbsp;</p>

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Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

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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>
<p><span><img src="/images/2016/08/02/Screen%20Shot%202016-08-02%20at%209.44.23%20AM.png" alt=""></span></p>
<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>
<p><a href="/images/2016/08/02/Screen%20Shot%202016-08-02%20at%209.42.03%20AM.png" target="_blank">Click to enlarge</a></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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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>
<p> </p>
<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><a href="/images/2016/07/27/Screen%20Shot%202016-07-27%20at%2010.46.30%20AM.png" target="_blank">Click to enlarge</a></p>
<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><img src="/images/2016/06/22/D819360E-D22F-45A0-950B-1527D8EA443823.png" alt=""></p>
<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>
<table id="table00388" class="striped" border="1">
<thead><tr>
<th id="table00388r1c1">Offence</th>
<th id="table00388r1c2">Maximum penalty</th>
</tr></thead>
<tbody>
<tr class="even">
<td headers="table00388r1c1">
<p>Working without a licence or registration</p>
</td>
<td headers="table00388r1c2">
<p>$24,380 or 2 years imprisonment</p>
</td>
</tr>
<tr>
<td headers="table00388r1c1">
<p>Employing a person who in unlicensed and unregistered</p>
</td>
<td headers="table00388r1c2">
<p>$24,380 or 2 years imprisonment</p>
</td>
</tr>
<tr class="even">
<td headers="table00388r1c1">
<p>Selling, hiring or lending out a licence or registration</p>
</td>
<td headers="table00388r1c2">
<p>$24,380</p>
</td>
</tr>
</tbody>
</table>
<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>
<table id="table77016" class="striped" border="1">
<thead><tr>
<th id="table77016r1c1">Offence</th>
<th id="table77016r1c2">Maximum penalty</th>
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<td headers="table77016r1c1">
<p>Failing to show a licence or certificate of registration to an inspector</p>
</td>
<td headers="table77016r1c2">
<p>$24,380</p>
</td>
</tr>
<tr>
<td headers="table77016r1c1">
<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>
</td>
<td headers="table77016r1c2">$12,190</td>
</tr>
</tbody>
</table>
<h3>Substitute licensee</h3>
<p>You must follow the rules when appointing a substitute licensee. If you do not, you risk being fined.</p>
<table id="table99699" class="striped" border="1">
<thead><tr>
<th id="table99699r1c1">Offence</th>
<th id="table99699r1c2">Maximum penalty</th>
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<p>Not having the consent and evidence of appointment at the office</p>
</td>
<td headers="table99699r1c2">
<p>$12,190</p>
</td>
</tr>
<tr>
<td headers="table99699r1c1">
<p>Not lodging extension of appointment substitute licence for more than 30 days</p>
</td>
<td headers="table99699r1c2">
<p>$24,380</p>
</td>
</tr>
<tr class="even">
<td headers="table99699r1c1">
<p>Acting as licensee while you have a substitute appointed</p>
</td>
<td headers="table99699r1c2">
<p>$24,380</p>
</td>
</tr>
</tbody>
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<h2>Person in charge</h2>
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<thead><tr>
<th id="table42782r1c1">Offence</th>
<th id="table42782r1c2">Maximum penalty</th>
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<p>Not having a licensee or registered salesperson in charge of place of business</p>
</td>
<td headers="table42782r1c2">
<p>$24,380 (individual)<br>$12,190 (corporation)</p>
</td>
</tr>
<tr>
<td headers="table42782r1c1">
<p>Having a real estate salesperson in charge of a place of business if their conditions or registration prohibit this</p>
</td>
<td headers="table42782r1c2">
<p>$24,380 (individual)<br>$12,190 (corporation)</p>
</td>
</tr>
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<h2>Documentation</h2>
<p>You must make sure that you:</p>
<ul>
<li>complete all of your documents correctly</li>
<li>give copies to consumers when the law says you need to.</li>
</ul>
<h3>Appointment</h3>
<table id="table10091" class="striped" border="1">
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<th id="table10091r1c1">Offence</th>
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<p>Acting for a client without a written appointment to act</p>
</td>
<td headers="table10091r1c2">
<p>$24,380</p>
</td>
</tr>
<tr>
<td headers="table10091r1c1">
<p>Not giving a copy of the appointment to act</p>
</td>
<td headers="table10091r1c2">
<p>$24,380</p>
</td>
</tr>
<tr class="even">
<td headers="table10091r1c1">
<p>Acting for more than 1 party to a transaction</p>
</td>
<td headers="table10091r1c2">
<p>$24,380</p>
</td>
</tr>
<tr>
<td headers="table10091r1c1">
<p>Not explaining the relevant details of a sole or exclusive agency appointment</p>
</td>
<td headers="table10091r1c2">
<p>$24,380</p>
</td>
</tr>
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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>
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<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>
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<th id="table37835r1c1">Offence</th>
<th id="table37835r1c2">Maximum penalty</th>
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<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>
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<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>
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<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>
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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>
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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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