Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

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The residential property development arm of OpenCorp has been relaunched as a standalone entity under the new name Equire, with almost $500 million of national projects in the pipeline,. Established in 2006, OpenCorp has grown to include five divisions offering investment advice, property management, finance broking, funds management and property development services.

Equire's most recent acquisition was a 1,400 sqm square metre site in Ivanhoe, 10 kilometres from the Melbourne CBD. The site is earmarked to have an end value of $34 million and will include approximately 45 apartments, with a mix of one, two and three bedrooms to suit a variety of purchasers.

Urban.com.au asked Equire director and OpenCorp founder Allister Lewison about the rebrand and his aspirations for Equire.

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/161209_-_757_toorak_rd_-_v01_-_hero_-_final_2000.jpg" rel="gallery-all" title="Equire's East Side Village project in Hawthorn East. Image : Equire"><img alt="" class="image-article-full-width-580px" height="315" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/161209_-_757_toorak_rd_-_v01_-_hero_-_final_2000.jpg?itok=mmvG1IJn" title="Equire's East Side Village project in Hawthorn East. Image : Equire" width="580"></a>

<figcaption>Equire's East Side Village project in Hawthorn East. Image : Equire</figcaption></figure>Urban.com.au : What are your ambitions for Equire? What are the types of projects you want Equire to be synonymous with?

Allister Lewison : At Equire, our core ambition is to build brighter futures for our customers, partners and investors. We want to continue to deliver solutions based not only on what the market needs now but also into the future.  

A core feature of our projects is design excellence – we only create products that will stand the test of time and that are most suitable for our buyers. This might be high-end downsizer apartments in Perth or a first home buyer land subdivision in Brisbane. We make sure that the product we are delivering meets and exceeds the expectations of our purchasers

UM : Is there any overlap between Equire and the other divisions of OpenCorp, in terms of support on projects? 

AL : There is definitely an overlap between Equire and the other divisions within the OpenCorp Group. We share and work closely with our funds, finance and invest divisions.

UM : What future projects are on the horizon for Equire, particularly in Melbourne?

AL : In Melbourne, we will soon be launching our Ivanhoe apartment project. This will include a mix of one, two and three bedroom apartments focusing on functionality, style and luxury. The project will be placed amongst Ivanhoe’s leafy streetscapes and likely attract downsizers, first home buyers and investors.

We are also currently contracting a site in South East Queensland for a 300-lot subdivision.

UM : Can you provide an update on your new project in Ivanhoe? When is it likely to launch?

AL : Equire’s latest apartment project in Ivanhoe is set to launch in November 2018. The project will be perfectly located close to public transport, parklands and shops. Our project will steer away from bland apartment buildings and will showcase the best of Ivanhoe’s beautiful streetscape. The architectural design will utilise curved geometry to speak to the art deco aesthetic of the Ivanhoe locality, with lush landscaping incorporated in the architectural design to allow the greenery to build on the character of the building façade.

UM : What are your thoughts on the state of the residential property market in Melbourne at present? 
AL : Melbourne continues to be one of the hottest residential markets in the country, and at the moment we are noticing an influx of first home buyers and downsizers. Australian Bureau of Statistics data shows that loans to Victorian first home buyers reached its highest monthly level in November 2017, at 3527, since late 2009. 
We are seeing a demand for good quality, small-scale apartment projects as well as townhouse developments.

UM : In terms of future growth aspirations for Equire, where in Australia do you see the most potential in the residential property market?

AL : We are noticing a lot of potential for residential property in Queensland, most notably in the South East. Data shows that there is forecast growth for the region, particularly due to the Commonwealth Games in April where the government is set to spend up to $1.5 billion on infrastructure and improvements. Additionally, the Gold Coast is one of Australia’s fastest growing cities.

Its current population is over 500,000 and this number is expected to grow to 820,000 in the next 20 years, according to the Australian Bureau of Statistics.

We are currently contracting a site in South East Queensland as well as continuing to monitor the market for any further opportunities.
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Laurence Dragomir

OpenCorp relaunches development business as Equire

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Julian Augustini, a director at <a href="https://www.hodges.com.au/" target="_blank">Hodges Brighton</a>, answered some of Property Observer's questions on the state of the current state of the market.
<ul>
<li>How would you describe the auction market? Is the treaty market likewise?</li>
</ul>
Because of the low interest rates, Melbourne's property market at the moment is performing strongly.
The auction market at the moment is very active, and so is the private sale market.
<ul>
<li>What tips would you give home buyers?</li>
</ul>
Buy in the best possible location for your budget.
You can make small, cost-friendly changes to your home over time but you can't change where you are located without selling and upgrading.
<ul>
<li>What tips would you give investors about the timing of their buying in the 2015 market?</li>
</ul>
The rental market remains stable so buying now and locking in low interest rates gives security and potential for growth. 
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po-LsXgBTHBmX

Low interest rates driving Melbourne market: Q&A with Hodges' Julian Augustini

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Ingenia Communities is an Australian stock exchange-listed property group that owns, operates and develops seniors’ communities across Australia.
Its chief executive officer Simon Owen talked to Property Observer about the company’s new direction. 

<ul>
<li>What is the outlook for demand in the segment of the property market that you target?</li>
</ul>
We are firmly focused on the more affordable segment of the property market for seniors’ living. We all know about the aging population but the segment we are focusing on is seniors’ accommodation and manufactured homes under $300,000 – there’s a limited supply of that type of property so the level of demand we are experiencing is quite strong.
We expect demand from seniors to continue to be very strong over the next five years. Some of our challenge is that there is limited awareness of the markets we operate in, the lifestyle parks and manufactured homes, so we have to build up that awareness that you own the home but not the land. That means you can maintain a comfortable retirement while usually maintaining your full pension with rent assistance.
Bringing a product to the market that’s affordable means seniors can sell their home and don’t have to spend more than 60 to 70% of the proceeds to buy a manufactured home.
In Sydney for instance, in the local government areas in which Ingenia has lifestyle parks, average property prices are $450,000, while a senior can buy a manufactured home for $300,000. They have the surplus from the sale plus the full pension of $900 a fortnight, which means they have that $150,000 surplus to spend on other things.
<ul>
<li>Your business concentrates on retirement living but you have been branching into tourism properties too, why is that?</li>
</ul>
There were 1779 tourism parks in Australia in 2003-04, according to IbisWorld but over the last 10 years that number has reduced to around 1600. These have been closed for a variety of reasons such as flooding or being converted to other land uses but at the same time revenue from the remaining parks has increased.
Cash flow from lifestyle parks is strong and they are highly complementary to our seniors business with the highest users of the parks being grey nomad. That provides an opportunity for us to cross sell to people. The number of registered caravans is rising. When a senior buys into a manufactured home park, they receive a 25% discount at our 19 parks along the east coast.
When we started our manufactured home strategy four years ago we identified tourism as a business where long term we would want to turn the tourism component of the lifestyle parks that we invest in into permanent living.
But we realised that in many parts of the country, the highest and best use of the land was tourism. Tourism generates very strong cash flow which supports our roll out of developments.
A best in class manufactured home community that has been purpose build with no tourism is going to deliver a cap rate of about 9%. We can buy mixed use parks at cap rates of 10% or more. The opportunity for us to buy those parks on attractive terms is quite compelling.
I don’t think we would ever be looking to be a tourism operator but we are comfortable using it where it’s the highest and best use of the land.
<ul>
<li>How competitive is the market for buying lifestyle parks?</li>
</ul>
Over the last six to 12 months there are more participants out there but we are ahead of the competition. We have seven people out there concentrating on acquisitions. We don’t rely on agents for deal flow. We have two people out door knocking having informal discussions with prospective sellers.
<ul>
<li>You have started to move out of investing in deferred management fee (DMF) retirement villages, where seniors buy the right to occupy a home, then pay annual fees and an exit charge. Why?</li>
</ul>
DMF is a great model. There are three reasons we are looking to exit that over time, and we are only going to exit if we can get appropriate values for the properties.
We want to focus on the affordable segment and DMF is no longer affordable because we can’t build a DMF home for under $350,000 and get a return. We want to focus on the affordable market and we are building manufactured homes and rental villages in some markets for $180,000. We don’t want to be all things to all people and we have identified that DMF is not consistent with affordability.
There are other pure-play DMF operators out there and this is also about differentiating our business.
Lastly, while we have about $70 million worth of DMF properties that are earning attractive development returns, if we strip out the development returns, it is a return of less than 3% per annum. Yields will grow over time but I can put that capital to work better now and buy a lifestyle park and get an immediate 10% yield. It’s about more efficient utilisation of capital.
<ul>
<li>What assets do you own and where does your revenue come from?</li>
</ul>
Ingenia’s portfolio includes about $120 million worth of Garden Villages (our rental properties for seniors), $70 million in DMF, and with acquisitions made and announced, about $170 million in lifestyle parks.
I would expect that over the next two to three years as we divest out of DMF and move into lifestyle parks we will be at a split of 75% in lifestyle parks to 25% in Garden Villages.
In the current financial year about a third of our revenue will be rental villages, 5-10% from DMF, 10-15% from tourism and the balance from manufactured homes, both rent and development.
<ul>
<li>What are the biggest challenges to your business?</li>
</ul>
The biggest risks and challenges to our business are around planning. We have to deal with a myriad of councils. Some are supportive and some are obstructive. That’s the single biggest challenge. 
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Q&A with Ingenia Communities' chief executive officer Simon Owen

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<img src="/images/2014/12/02/henry%20dec%202%20one.jpg" width="150" style="float: right;">
Foreign buyers continue to be a talking point for property fanatics in Australia.
Co-CEO of Chinese listing website Juwai, Simon Henry, pictured right, spoke to Property Observer from Hong Kong about some widely held perceptions of foreign buyers and how they really affect the Australian property market.
<ul>
<li>People get quite up in arms about foreign investors pricing first home buyers out of their suburbs. What do you think?</li>
</ul>
The latest Parliamentary report is probably the best indicator. There are a few key things to look at here. One is – is foreign investment good for Australia? Number two – is it pricing the home buyers out of the market? And number three – is the FIRB process actually working?
It found that, firstly, foreign investment is very good for Australia. It adds supply, that actually keeps prices low. If it wasn’t for foreign investors coming into the country prices would probably be higher than what they are. About 9% of the Australian population is employed in the construction industry and it is probably one of the things that has actually helped us be one of the few countries in the OECD to stay out of recession.
In terms of the first home buyers they found that the price point at which the foreign investors are buying is not the same as the first home buyer and that the two segments are almost completely segmented and unaffected by each other.
<ul>
<li>If this is the case, then why do you think we do still have a number of people saying that they are pricing out the first home buyers?</li>
</ul>
The evidence doesn’t suggest that, so I think it’s just misinformation. There’s a lot of media hype around the foreign investors in terms of what they’re doing and what they’re buying and the price point. I think this report shows that they are two very separate markets.
The report also finds that the average property bought by a foreign investor is $900,000 plus, which is well out of the price range of the first home buyer. The report also says that the Chinese shouldn’t be singled out in terms of a foreign buying group because the United States, for instance, are a very close second.
<ul>
<li>What sort of areas are we seeing Chinese buyers purchasing in?</li>
</ul>
We’re definitely seeing them purchasing in the major cities, you’re looking at Melbourne, Sydney, Brisbane and the Gold Coast. Within those areas we're usually looking at the inner city, which is where most of the new builds happen, as the hottest spots.
But then your domestic Chinese audience, those Chinese Australians, typically buy in the high-concentration Chinese areas. In Melbourne that’s Doncaster, Box Hill and in Brisbane it’s Sunnybank Hills, in Sydney it’s Chatswood.
We’re dealing with two groups here. One is the domestic audience and one is an international audience.
<ul>
<li>Do you think in areas where there is established property that there is any illegal property activity occurring?</li>
</ul>
Definitely not. Anyone can buy a property in Australia as long as it has FIRB. If you look at some of the suburbs around, say, Double Bay or Mosman, these are multi-million dollar properties. They are established properties, however it is shown that people who buy these properties have approval to do so.
<ul>
<li>It looks as though it might take a while for public perception to come around to this. What’s your perspective?</li>
</ul>
It’s a shame really as the effect of foreign investment on Australia is so radically good. Instead of looking at foreign investors and saying ‘wow they’re driving up prices’, my view is that we should be saying ‘wow, thank you – you helped us avoid a complete recession in Australia during very hard times.’
<ul>
<li>Looking at your listings portal, Juwai, how many extra activity have you seen over the past 12 to 24 months?</li>
</ul>
We’ve definitely seen a lot of interest shifting towards Australia. It’s the second most popular country [on our portal] and the USA is number one, Canada is number three. So it is currently competing for foreign investment and there are other countries around the world with a lot less restriction [around foreign ownership] – the United States for example has almost no restrictions. It’s really a case of what amount will go to Australia to help fuel the Australian economy.
<ul>
<li>Some investors say that they can’t go overseas and buy a property in China and that it seems a little unequal that they can buy a property here. What do you think?</li>
</ul>
I certainly see where people are coming from. I lived in Thailand for 10 years. However it’s also just a case of demand. If you are a resident in China and worked and lived there for a year then you can buy a property. There’s also 1.4 billion people in China and they don’t require foreign investment in the property sector because they have an aggressive domestic supply.
Australia, on the other hand, has a massive shortage of housing. With population growth expected to be strong we’re looking to build around 400,000 new dwellings over the next couple of years just to handle the immigration supply. We need foreign investment in Australia.
Australia is a lucky country and it does have an immigration policy that brings more people to the country. With record low interest rates it causes people to be able to borrow more money and to buy property of higher value, but the major issue is supply. Whether that’s as a result of government policy, restrictions, the release of land, all those things – if you want to keep prices under control then supply has got to increase.
<ul>
<li>What is the future looking like for foreign investment?</li>
</ul>
We think that the market for foreign investment will continue to grow. We see it as a fantastic opportunity for every country that accepts foreign investment to benefit from it greatly. The only country in the world to have more foreign investment restrictions [than Australia] is Switzerland. Australia’s right up there already with the restrictions placed on foreign investors. Australia has been fortunate enough by its geolocation to Asia and its reputation that it still attracts a good number of foreign investors and this will continue.
It’s driven by the major motivations of Chinese looking at property: Investment, education and immigration.
Australia has a great reputation in terms of education and destination marketing.
See over page for the top 10 Sydney suburbs attracting Chinese buyer interest.
<hr class="system-pagebreak">
Here are Juwai's 10 Sydney suburbs for Chinese buyer interest at present.
<ol>
<li>
<a href="/news">Mosman</a> 
</li>
<li>
<a href="/news">Bondi Beach</a> 
</li>
<li>
<a href="/news">Campbelltown</a> 
</li>
<li>
<a href="/news">Willoughby</a> 
</li>
<li>
<a href="/news">South Coogee</a> 
</li>
<li>
<a href="/news">Castlecrag</a> 
</li>
<li>
<a href="/news">Sydney</a> 
</li>
<li>
<a href="/news">Cremorne</a> 
</li>
<li>
<a href="/news">Bowral</a> 
</li>
<li><a href="/news">Cremorne Point</a></li>
</ol>
Source: Juwai
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Foreign investment has pushed prices down, not up: Q&A with Juwai's Simon Henry

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There has been fierce debate around commercial licensing recently. The Real Estate Institute of Victoria's (REIV) Enzo Raimondo is particularly against the recent changes.
Here's a Q&amp;A with Raimondo explainging why they oppose the gazetted regulatory changes.
What are the changes to commercial licensing?
The Victorian government has gazetted a regulatory change which enables anyone involved in the sale of real estate other than residential or rural land, will be exempt from the licensing requirements of the Estate Agents Act where,
<ul>
<li>The price in the contract of sale is at least $15 million or the property has a total gross floor space of at least 10,000 square metres.</li>
<li>Each party to the sale purchase or exchange of real estate owns other real estate with a total value of at least $15 million or a total floor space of at least 10,000 square metres.</li>
</ul>
Anyone involved in the leasing of real estate other than residential property or rural land, will be exempt from the licensing requirements of the act if the person or company for whom the person is acting owns property with a total of at least $15 million or a total floor space of at least 10,000 square metres.
It should be noted that the ALP, on Monday announced that it will review these changes if elected in Victoria at the upcoming state election on 29 November.
How does the REIV believe this will affect the industry and consumers?
It will create a two-tiered system where some agents will be licensed (for sales and leasing transactions below the threshold) and others won’t be licensed.
This will open the industry up to unqualified and inexperienced operators - and potentially criminals - because there will be no probity checks, and the operators will not be required to maintain an audited trust account or comply with the requirements of the estate agents act.
This will lead to a high level of financial risk to vendors, purchasers, landlords and tenants and means that thousand s of small businesses in Victoria will lose the inherent safeguards provided by the estate agents act.
This will hurt small business tenant in Victoria and may lead to increased rents, prices and put thousands of jobs at risk.  
What will the REIV be doing to stop the changes?
The REIV continues to lobby both sides of government in regard to the changes, and is running a public campaign leading up the state election (and beyond).
Are there any other changes to commercial licensing that should be implemented?
There is already an exemption in place for large commercial transactions between related parties, which the REIV believes is sufficient to meet the needs of a wide variety of stakeholders involved in these transactions. For this reason there is no need for the changes that have been proposed.
They represent deregulation of the commercial and industrial estate agency practice, yet are being promoted as red tape reduction.  
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Victoria's proposed commercial licensing changes: Q&A with the REIV's Enzo Raimondo

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Josh Rowe is the chief executive of realAs, a property price prediction website and application.
According to Rowe, the <a href="https://realas.com/home/" target="_blank">realAs</a> algorithm, which is constantly being refined, produces predictions which fall within 5% of the eventual sales price. Users are able to compare the realAs prediction with the price guide provided by agents and the final sale price.
For buyers who are frustrated with auctions where prices spiral well above the price guide (and their budget), the application provides an alternative price estimate to that provided by real estate agents.
Property Observer spoke to Rowe about underquoting, and how buyers can navigate the available information to make their own price predictions.
Can you explain the problem of underquoting?
Underquoting is where a real estate agent will give a price for a property which is below what the property is likely to sell for. And it's a marketing tactic.
It's designed to bring people to an auction; to either drive the buyer's up in price, who they might not have captured before, or just get a lot of people there, to drive and get sa real kind of excitement there.
If you walk past a retail store or restaurant and see its busy, you'll be more attracted to it. If you walk past an empty restaurant or an empty retail store, you might keep walking.
What are the costs to the buyer?
I think the challenge for buyers is firstly the amount of time they invest in searching for a house.
And there are so many things a buyer looks for.
They'll spend their time out there going for open inspections, going to auctions. They might do building inspections, spending some cash, understanding what's going on.
So for buyers, when the price goes well above what they've been quoted originally, to outside of their price range, they feel frustrated.
And they're angry. I've spoken to buyers in my own sububrb about what happens when they see underquoting - and some have wasted many months, six months, looking for properties, until they've found one that they've worked out - they've almost worked out the difference between what real estate agents really told them, and what the price was likely to be.
How informed do you think buyers really are about underquoting? Is it an industry thing, or are buyers quite savvy about it?
I think people are aware that underquoting exists. But there's no one percentage that real estate agents underquote by. So that's the biggest challenge.
People might take five to 10 years between purchasing houses. So generally when you've been out of the market for that kind of period, whether you're buying for yourself to live in or buying to invest, you've forgotten that you've lost five years of where the market is up to.
When I talk to my friends about how they research the market, they build their own spreadsheets. They almost do the manual version of realAs, I suppose. They build a spreadsheet up, and they go: "Here's a real estate agent. Right. His name is Fred, agency is this, quoted for this, sold for that".
So they manually go through almost weekend by weekend, just tracking the results, til they go, "Right, this is where the market is at, I can start searching".
So they almost build their own algorithm and database themselves. And that's a lot of effort! Why should they have to do that?
Underquoting is only half the issue. Overquoting in private sales equally as frustrating for buyers too. Real estate agents will start with a high price, and generally over a period of time will move their price down in order to attract a buyer, to a price a buyer is willing to pay. Because buyers are the ones who choose what a house is worth, not a seller.
Obviously building up your own database is a quite labour and time intensive thing to do. What are some other steps buyers can take to protect themselves from underquoting or having their time wasted by that kind of practice?
There are many resources out there.
There are more and more websites out there that are making information more transparent. Some are free - you can go to websites like onthehouse.com.au, you can use websites like RP Data, you can see oldlistings.com.au.
Potentially you could trust a real estate agent who wasn't the seller. And buyer's agents generally have a good understanding of where the market's at as well.
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Underquoting: Q&A with realAs' Josh Rowe

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Today Urbis released its quarterly Brisbane Apartment Insights report, detailing the changing conditions and trends affecting Brisbane's inner city apartment market.
Property Observer spoke to Urbis' national director of residential Jon Rivera about what's driving growth in Brisbane's apartment sector and what this means for the property market. 
What are some of the growing trends in Brisbane's inner city off the plan apartment market?
We've never really seen this much activity in Brisbane.
It's a pretty exciting time for Brisbane, with this level of development and also infrastructure growth, through masterplans and government infrastructure. 
Brisbane is growing very quickly, from a demographic point of view. Nationally, there are some major changes happening right now in the residential market, and we're seeing new fundamentals emerging. 
What demographic trends are driving the growth of the inner-city apartment market? 
The residential market is built off two major demographic groups: the 25-30 year old bracket, which is very large and growing significantly, and baby boomers.
They're very complex groups, so I normally hate to say "Gen Ys and baby boomers". But they are major demographic groups in the residential market. 
We're seeing major changes in the type of properties that they're looking for. The trade off they have to make to cope with the cost of living is definitely having some implications for demand.
We're also seeing changes in infrastructure and where that's being invested. We're seeing much less urban sprawl and much more upwards development. It's cheaper to upgrade and put infrastructure in central areas where there's already a major population, rather than emerging regional areas. 
Where is apartment growth focused? 
The major development is happening is along corridors where there is existing infrastructure, or proposed future infrastructure. Running from <a href="/news">Wooloongabba</a>, <a href="/news">West End</a>, <a href="/news">South Brisbane</a>, coming through to the CBD and going into <a href="/news">Fortitude Valley</a>, <a href="/news">Bowen Hills</a> and going all the way up to <a href="/news">Hamilton </a>- that's where we're seeing a lot of supply and demand.
These emerging developments are all still fringe based. The CBD is probably undersupplied - it's got a few developments on their way, but it predominately the growth is in the fringe areas. 
For apartment developers, there were better opportunities in the fringe. In South Brisbane, there was very little supply, and it made perfect sense to develop because the infrastructure was already there. The same was the case in Fortitude Valley. 
Is there a threat of oversupply in the Brisbane apartment market?
There are a couple of things we need to get clear on in terms of apartment development from a supply point of view. We often talk about 23,000 apartments in the inner Brisbane market, which are either in the application, presale, or approvals stages, but you can't look at thin air.
We care more about settlement, which has been pretty fragmented. There is a lot of stock coming through the off the plan through to the end fo 2015. It's a very hot market, but it really is about that settlement.
Rents are definitely aligning. They're starting to move away from the inflation period we had that was created on low supply. That, to me, is saying that developments are doing what they should.
2015 is definitely going to be very competitive for the off the plan apartment market. We're probably going to see a lot of developers not get off the ground, which is going to affect supply.We look at a lot of these developers playing in Brisbane and to be honest, there are some that have not proven themselves yet.
There are still a lot of challenges when it comes to taking that glut of supply and making it a tangible product. 
At the moment, there are going to be areas that are going to have some fluctuations, which always happens. We're going to need continued population growth, through migration and international students, which are very important to Brisbane's inner city rental market.
Brisbane is also very closely related to what's happening in Sydney, and prices are obviously high there, which may drive demand for Brisbane.
The one thing that we definitely know is that we're going to see more renters come through.
The cost of living is unfortunately not getting any easier. In Australia, the employment opportunities are very centralised. The infrastructure is very challenging as we go further out, and in the capital markets, the 15 kilometre to 20 kilometre ring from the CBD is very difficult market to get into for young buyers. 
The ability to own their own home is a big trade off for younger people - if they buy further out, that's going to cost them more in terms of fuel. Thats why we're looking at the apartment market. Sure, supply is coming through, but the challenges facing buyers and the demand growth is here to say.
It will go through the fluctuations, and developers are great at getting a good thing while they can, and then we'll see a correction.
How will the influx of new apartments affect Brisbane's rental market?
We are hearing that rents are softening. 
The owner occupier market is really taking an effect on the existing apartment market and the more mature stock on the market, taking that away from renters. So the new apartment market is obviously catering to renters.
Rents have been quite inflated, so we have a buffer. Now, we can make things align, and it's getting a bit better from an affordability point of view. The time to fill an apartment is growing, but still pretty good. Instead of one week, it'll take a month or two months to fill an apartment.
To me, this is a normal thing, and means developers are doing their jobs. 
Historically, December always seems to have a lot of vacancies, and so does the March quarter because it includes January. In June it always comes back again, to around the 3% mark. 
There are going to be pockets where there are going to be some realignment in rentals, which I think is positive. It's a good thing for the renter, who can see what amenity they get for their dollar. There's going to be some good choice there, and affordability will improve. That's a good thing.
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Brisbane's inner city apartment market: Q&A with Urbis' Jon Rivera

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A commercial office building at 2-6 Bowes Street (pictured above) in Canberra's Phillip was recently launched after undergoing a significant refurbishment to improve its energy efficiency.
The building, owned by boutique property fund manager Quintessential Equity, is targeting a 5-star National Australian Built Environment Rating System (NABERS) energy rating. The company recently acquired two other commercial properties in Canberra, 14 Moore Street and the Optus Centre in Civic.
We spoke to Russell Bullen, head of Property at Quintessential Equity, about energy efficiency in the commercial property space.
How has the demand for "green" office spaces changed over the past ten years?
It's certainly evolved significantly in that time. I think the whole "green movement" gained a lot of momentum, and it was certainly assisted by the government's changes to legislation around disclosure.
If you sell or lease a building, you now have to disclose your NABERS  energy rating.
Up until the changes, it was really dependent on market forces. It was up to tenants to really demand energy efficient buildings, or really up to the landlords, off their own backs, to disclose. So once the legislation came in, it provided more accountability around energy efficiency - if you had a building with poor energy efficiency, but didn't have to disclose it, there wasn't much of an incentive to improve that.
I think that's probably been the biggest change in that time period.
What are some elements that make commercial office buildings "green"?
Probably one of the things that gets forgotten is management.
And one of the biggest improvements in energy efficiency, and reducing our carbon footprint, is good management. We have a national engineering manager whose main focus is just that. That is probably one of the biggest impacts that you can make to a building - making it operate efficiently.
Apart from that, you can introduce things that are very costly, in terms of plant and equipment. You can improve heating and chilling and make that more energy efficient, and also use computer building management systems to improve efficiency.
What are the benefits of energy efficient office buildings to investors and tenants?
From a tenant's perspective, the operating costs are less.
We've got a project in Parramatta, where we were awarded Best Commercial Building Energy Efficiency Project by the Energy Efficiency Council. We've seen the electricity costs in that building fall by more than a third from work that we did. We were able also to achieve a four and a half star NABERS energy rating there.
The reduction of cost is a real and tangible benefit, and you also of course have an environmental benefit.
But also buildings that have a higher NABERS rating have a greater level of comfort and reliability, which is better for landlords because it improves tenant retention. From a landlord or investor's perspective, if you can make a building run efficiently, reliably and comfortably, you're going to retain tenants for longer.
Outside of Canberra, are there places where energy efficient office spaces are in greater demand than others?
If you had to say one location where energy efficient buildings were more in demand, it probably is Canberra. In Canberra, over two thirds of tenant demand is from the government (either Commonwealth or ACT). They actually have requirements within their leases that buildings have to achieve certain levels of energy efficiency.
Outside the ACT, in general, CBDs where there are large corporations who also have efficiency targets also show strong demand.
What role do you predict "green" innovation and energy efficiency will play in the commercial property market in 10 years time?
It's a difficult question, because there was certainly a strong impetus for energy efficiency, but when the GFC [global financial crisis] happened, there was a focus on cutting costs. And that's the thing with achieving energy efficiency - there is an upfront capital cost.
But if you take a 30,000 foot view, it's inevitable that it will continue to grow and get more traction. Disclosure obligations aren't going to go away. Companies are more and more focussed on their costs, and that's only going to continue in terms of ongoing operations. Outgoings are a significant part of companies' operating costs - so energy efficiency is not going to go away.
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Q&A with Russell Bullen of Quintessential Equity

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Marketing your home for sale through a real estate agent leaves you in their power.
You need to trust them to effectively guide you through how the campaign for your property should be and how much you should be spending.
You must rely on them to ensure you do not overcapitalise, and in a space where the arguments over print versus online advertising and even the use of signboards are rife, it's understandable that you might be feeling a little lost.
For our Tuesday Q&amp;A, Property Observer asked Century 21's national training manager Alastair Kay all about advertising, marketing and his own experiences in real estate.
What was the most exciting property you ever marketed, and how did you express this in your marketing?
The most exciting sale I’ve been involved in was the successful transaction of a property in Banksia Beach, Bribie Island's premier postcode which is known locally as millionaire’s row.<img src="/images/2014/08/12/kay-aug-12-one.png" alt="" style="float: right;">
My point of contact for the property was the owner’s son, who lived between the Bribie home and his main residence in Brisbane. The son demanded excellence in everything he was involved in, having previously served in the military and being at that time employed as a well-respected prosecutor.
After much discussion, we chose to take their home to auction as it had only attracted five inspections after having been on the market for over two years. This high risk strategy required a significant investment to ensure we attracted the right buyers, so together we created a professional, targeted marketing campaign which required an investment in excess of $30,000 from the vendor.
The four week auction campaign attracted in excess of 100 viewings, an incredible amount of interest for the global financial crisis and a figure that dramatically exceeded the seller’s expectations. The auction was held at twilight on the deck of the home overlooking the Pumicestone Passage and was sold 24 hours later, after being passed in at the auction.
How do you tailor advertising and marketing to each individual property and vendor situation?
The most vital consideration for tailoring marketing and advertising is finding out what the seller hopes to achieve from the sale, and how they’d like to achieve it. More specifically, I like to ask the vendor questions relating to the sale based around three key areas: price, privacy and timing.
If obtaining the highest price possible is the most important result they want to achieve, I will show them what marketing is available to them and what attracts the most enquiries. I’ll also provide them with all the options and assist them with building their own campaign as the more the vendor can be involved, the better the likely result. Some real estate agents forget this and often present completed marketing campaigns, or only a few options. The danger with this approach is that it overlooks the fact the vendors are transacting what, for most people, is their single largest asset. This means that peace of mind in knowing that everything possible is being done to sell it at the best possible price should be of paramount importance.
Some vendors are worried about their privacy, a concern which may be driven by any number of different reasons. In these instances, I’ve occasionally been asked to design a discrete marketing campaign where a particular group of buyers is intensively targeted, or asked not to advertise at all and merely shop it around to interested buyers I’m aware of in the community.
<blockquote>
After much discussion, we chose to take their home to auction as it had only attracted five inspections after having been on the market for over two years.
</blockquote>
Timing is also crucial to tailoring a marketing campaign – if the vendor is desperate to sell, the only choice is often an intensive marketing campaign which showcases the property to as many potential buyers as possible.
What questions do vendors commonly ask around marketing?
Generally vendors want to discuss how much a marketing campaign for their property is going to cost, because they are often concerned that there can be no guarantee that they will achieve the price they hope for. These are legitimate concerns which your real estate agent should be comfortable addressing. Typically, I’ll explain how it’s in my best interest for the property to sell as real estate agents only ever get paid when a property settles.
Successfully transacting a property requires a well thought-out, structured and targeted marketing campaign that is designed to meet the vendor’s specific needs and requirements. If your agent isn’t paying adequate attention to your marketing requirements, it’s probably best to consider speaking with another agent to compare approaches.
Turn over page for more, including the difference between auction and private treaty marketing.
<hr class="system-pagebreak">
How does advertising differ between auctions and private treaty marketing?
There isn’t a great deal of difference, however vendors tend to invest less into marketing when they sell via private treaty. This is because when property is being transacted by private treaty, all that’s required is one passionate buyer to place an offer, as opposed to an auction where you want to attract several passionate bidders to compete for the property.
Regardless of the vendor’s preference regarding how they sell their property, I always recommend investing in the strongest campaign possible, as this has the highest possibility of finding the buyer that is going to pay the most.
I always caution that marketing for a property should be considered an investment – not a cost. This is because vendors often find that they’re able to achieve significantly more for their property through a premium marketing campaign, and doubling, or even tripling, their initial marketing investment.
For which type of properties does print advertising work?
I always recommend vendors consider every avenue of marketing available to them, as the reality is we’re after the buyer for the property – not just a buyer. This distinction is crucial, as marketing for the buyer means that you’re exploring all possible options, not just pursuing the cheapest, easiest option.
When I was selling in a rural location on the Queensland coast, most vendors wanted to choose a local paper that had a readership of 20,000 people every week and more often than not, found that they weren't getting the result they'd hoped for. My consistent recommendation to vendors was that they choose a different paper that had a greater readership of 950,000 people.
Doing this did mean an increased marketing investment; however, they increased attendance at open for inspections by an average of five buyers per week. This helped achieve a premium price for every seller who chose to add paper marketing to their campaign.
The moral of the story is that there’s still a place for paper advertising, especially newspapers that have a larger, more targeted circulation. There’s no use in having 10,000 people viewing your property online if 9,950 are in another state and only browsing for fun.
Are there any aspects of advertising where vendors should be spending less or more?
As you’ve probably realised, I'm a big believer in creating and executing the best campaign possible. Vendors only get one opportunity to make a good first impression and selling your home is no different.
There are ways of cutting costs. But in my experience when vendors try to cut costs in their marketing, they ultimately end up cutting the price they’re able to achieve for the property. I recently sold a unit on the waterfront by auction which the vendors had been contemplating listing at a price and seeing what happened.
The vendors were working on the assumption that because an identical unit above theirs sold for $360,000 only a few months earlier, they'd get a similar price. After talking through a range of options, they chose to invest into the best marketing campaign they could as they agreed that they’d only get one shot at introducing the property to the market.
By taking this approach they achieved a result of $418,500 – well above the recent sale, and a result that only came about because the marketing campaign reached the market completely. Had they sold by private treaty, they had planned on listing for $389,000.
What does the best listings copy look like – and what tips do you have for agents who consistently get it wrong?
Listing copy is one area that does need a lot of work in Australian real estate. Unfortunately, it often boils down to time and writing skills, and often agents will be a little short on both.
The best listing copy will portray the property in a positive light, while providing plenty of detail about the local area with a quirky edge which makes the property stand out. Some agents tend to go a little details-heavy, writing copy that ends up reading like an extended novella. Some agents, on the other hand, try too hard to be memorable and sacrifice too much detail. The ideal copy will get this balance right, which is a delicate process.
How much does it really cost to advertise a property?
For a long time now agents have used a rule of thumb that says that the marketing budget of a property should be roughly 1 per cent of the price of the home. Therefore if the value of the home is roughly $500,000 then a budget of $5,000 would be advisable.
However, this isn't always accurate and my advice is to recommend the campaign which will give the agent the best opportunity of achieving the highest price for the home. Naturally all real estate agents have to work within the constraints of the vendor’s budget, but often the vendor finds it’s worth the extra investment as they’ll likely achieve more at the sale.
One property that I transacted for $1,600,000 had a vendor who invested in a marketing campaign in excess of $30,000. Due to the nature of the property and its target market, anything less than this would have been inadequate and a waste of money. 
If there's someone you'd like to see asked about a topic for a Tuesday Q&amp;A, email <a href="mailto:jduke@propertyobserver.com.au" target="_blank">jduke@propertyobserver.com.au</a>
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Print v online, the costs and effectiveness of advertising: Q&A with Century 21's Alastair Kay

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Laorence Nohra is the chief executive of the Tradebusters Group, which includes Tradebusters Tradesman Concierge Services, Tradebusters Connect and Tradebusters Academy.
The <a href="https://www.tradebusters.com.au" target="_blank">Tradebusters </a>companies connect homeowners with a network of trusted tradespeople for a variety of projects. Property Observer spoke to Nohra about how renovators can avoid dodgy tradies and when it's time to tackle something on your own. 
When choosing a tradesperson for a renovation, what are the key things to consider?
<ul>
<li>Does the tradesperson have the right experience for the job? Each tradesperson is different so you want to make sure he or she has the right skill sets for your particular type of project.</li>
<li>Does he or she have the correct licences for the jobs they are undertaking? Licence requirements vary state by state and may be different depending on the size and value of the job</li>
<li>Are they covered by the right insurances?</li>
<li>Who will be doing the work - are they employees or sub-contractors?</li>
<li>Will they meet your timelines? Will this tradesperson be 100% focused on your project or do they have several running at the same time which runs the risk of your job dragging out. 
</li>
</ul>
How can renovators prevent issues with their tradesperson?
First and foremost, get the selection of your tradesperson right so that you don’t have any major or “unmanageable” issues. Unfortunately, issues become costly and stressful when the wrong tradesperson is selected, or, worse still, they have disappeared from the scene.
You'll also need to establish the track record of the tradesperson. Especially for major renovations - meet their recent customers and see the quality of the work. Find out what the customer experience was like with that tradesperson: did they meet deadlines, stick to budget and most importantly, how did they deal with issues that presented themselves along the way?
Find out if the tradesperson has clients that he or she does regular on-going work for, like local real estate agents or architects. How long have they know them and what can they say about the tradesperson's history and track record?
The thing with renovations is, sometimes thing do go wrong or expectations may not be completely met– but that can all be solved by selecting the right tradesperson upfront, and ones that care about their reputation and take pride in their work, as they are the guys that won’t leave until you are totally satisfied.
How can a person act when their tradeperson causes delays or doesn't complete a job as expected?
Always try and communicate your expectations around timelines and quality upfront.
In terms of how to “act”, don’t overreact and don’t be afraid to give feedback!  I have meet some homeowners that feel almost “afraid” to give a tradesperson feedback, but what they may not realise is that sometimes, unless you tell a tradesmen that there is an issue is, they may genuinely not be aware of it.
It’s always important to be as constructive as possible with the feedback and share the positives as well. Any reputable tradesperson will appreciate the feedback and work with you towards a positive outcome.
This article continues on the next page.
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How can a person decide whether to DIY a renovation job or hire a team?
<ul>
<li>Do you have the time to DIY? Will it mean taking time off work and can you afford that?</li>
<li>Know your objective for doing it yourself. If it’s to save money, have you calculated the cost of your time off work and lost annual leave (something many people forget). It may take you far longer to do it on your own, which means it could be cheaper to hire a professional.</li>
<li>If it is a property you are planning to sell or rent, and going DIY means taking an extra four, eight or 12 weeks to get it to market or to get rental income, then does it work financially? It could actually be more costly to go DIY.</li>
<li>Are you experienced enough to do a DIY renovation? It is important to know your capabilities so that you are not left disappointed with the results, or, more importantly, risk your safety and health. Also, it is a lot more costly to bring a professional to fix up a DIY job gone-wrong than just to have a professional do the job in the first place.</li>
</ul>
<blockquote>
"I'm noticing a lot more women taking charge of renovation projects and doing it extremely well" 
</blockquote>
 
 
 
 
What are some of your top tips for DIY renovations?
<ul>
<li>Know your limitations and when to call in the professionals.</li>
<li>Absolutely leave anything that requires a licence or that is structural in nature to the professionals.</li>
<li>Don’t take shortcuts in areas where quality is highly visible, like tiling or cabinetry.</li>
<li>Take all precautions and don’t do anything that could risk your safety or those around you</li>
<li>Think twice about a DIY renovation for a property that you plan to sell post-renovation. As a potential seller, you have a huge opportunity to maximise the potential sales value of your property and reap the profits through a well done renovation. Quality plays a big part in that. Bad DIY jobs do not go unnoticed by potential buyers and can destroy potential profits.</li>
</ul>
What are some of the key trends in renovation that you're noticing at the moment?
I'm noticing a lot more women taking charge of renovation projects and doing it extremely well.
There's also a big trend in doing all the joinery of a home in a more consistent and sophisticated style from kitchen, to laundry to living and bathrooms, and all at the same time. Kitchen renovations continue to be popular, especially as they can add considerable value to the property, and homes are getting more lifestyle focused, with extensions of living areas “outdoors”, with covered decks, and mini outdoor kitchens.
For more information on what to do when your renovation goes wrong, see <a href="/expert-insights/building/lessons-from-the-block-what-to-do-if-your-tradie-disappoints">Lessons from The Block: What to do if your tradie disappoints</a>
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