Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Real Estate

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GUEST OBSERVER
Consumers lose out when a real estate agent acts fraudulently. This includes actions such as false and misleading advertising, deceptive conduct and misappropriation of trust funds.
So what is behind the increase in white-collar crime and fraudulent behaviour? And are there are any preventative measures that could be implemented to reduce the impact on consumers?
<h2>The scale of the problem</h2>
There are various property agency laws and codes of ethics that set out appropriate standards of behaviour for property agents.
In New South Wales, occupational licensing for property agents and certificates of registration are mandatory if working in the property industry. Occupational licensing for this category is managed under the auspices of individual state and territory Fair Trading offices.
My research concluded that education plays a pivotal role, coupled with industry experience, in combating white-collar crime in the property industry.
From 2003, the NSW regulator diminished the existing higher educational requirements and abolished the need for industry experience. This has been followed by significant increases in consumer and trader complaints in real-estate transactions.
These complaints include non-disclosure of a vested interest, misrepresentation, unethical conduct and fraud.
<a href="/images/2016/04/01/Screen%20Shot%202016-04-01%20at%209.00.35%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/01/Screen%20Shot%202016-04-01%20at%209.00.35%20AM.png" alt="">
The table above indicates an increase in complaints from 1756 to 3754 in a decade.
In 2012-13 Fair Trading reported only 1,444 complaints, which represented a decrease of 17.77 percent. However, there does appear to be an anomaly with the following year, which reported an increase of 113.78 percent. Therefore, it is possible that the complaints for 2012-13 could have been partly accounted for in the following financial year – hence the disparity.
If this is the situation, then an average calculation would indicate that complaints increased in 2012-13 and 2013-14 by an average of 48% for each year. This appears more in line with trends during the earlier years.
My 2013 study identified ten randomly selected court cases from 2010 to 2013 that related to trust accounting fraud. Of these, five cases disclosed the amounts misappropriated – which totalled A$2,107,261.
I undertook further research on five court cases that occurred during the 2013-14 financial year. The misappropriation of trust funds ranged from $813,936.00 to $1,434,111.43. The penalties ranged from jail sentences, extending from a bond for good behaviour to 18 months’ imprisonment, to disqualification from holding a licence or certificate and working in the property industry.
<h2>The way forward</h2>
Consumer complaints and trust accounting fraud continue to increase. Over the last decade, the property industry has continuously lobbied the regulator for an improvement in the educational requirements for the certificate of registration and licence categories.
My research developed a model of occupational corruption. Based on this, it recommends the following preventative measures be implemented:
A major overview of the educational course curriculum and associated mandated qualifications. All certificate of registration holders should complete a Certificate IV qualification. All licensed holders should complete a diploma qualification, both within the property services training package and the relevant category of employment.
An increase in the mandated units and training hours required before starting work in the property industry. The previous industry experience of a minimum of two years should be reintroduced.
A points system where agents must submit their business and personal financial details to Fair Trading in order to obtain or renew their property licence. This will identify the agents whose businesses are not trading profitably and who might be considered high risk in trust accounting ethics and processes. The issuing of the licence should be linked back to obtaining a nominated minimum point score that reflects the financial viability of the licence holder or business.
An interview system, where agents applying for their licence are required to undertake an oral examination. In Australia, the Australian Property Institute and the Royal Institution of Chartered Surveyors have for decades successfully applied this method of assessment to the valuation profession.
 
<a href="https://theconversation.com/profiles/hera-antoniades-229521" rel="author">Hera Antoniades</a> is senior lecturer, School of Built Environment, University of Technology Sydney and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/hera-antoniades-229521" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

How can we arrest the rise in white-collar crime in Australia’s property industry?

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Foreign property investors are claiming more than $200 million a year of negative gearing tax deductions, a News Corp Australia analysis of latest Australian Taxation Office data shows.
It concluded there were almost 56,000 foreign real estate investors in Australia in 2014, up from 52,700 the previous year.
More than 40 per cent of them used the negative gearing rules, which allow investors to claim a tax deduction when expenses exceeded rental income from their invstment property.
A spokeswoman for Treasurer Scott Morrison said “tax changes to be made by the Government will be announced in the Budget”.
The new ATO data shows 22,529 foreign investors claimed almost $208 million of net rental losses in 2013-14.
Based on Australia’s tax rates for foreign residents of between 32.5c and 45c in the dollar, those negative gearing losses are estimated to have saved them more than $76 million in tax.
Real estate experts say any savings from banning foreigners from using the tax breaks would have little impact on the Federal Budget and may be counter-productive.
Foreign real estate investors in Australia: almost 56,000
Foreign investors using Australian negative gearing rules: 22,529
Amount of net rental losses claimed: $208 million
Total tax saving: more than $76 million
Tax rates for foreign residents: between 32.5c and 45c in the dollar
Source: 2013-14 Australian Taxation Office data
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40 percent of foreign investors make negative gearing property claims

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Richardson &amp; Wrench, one of the oldest real estate groups in Australia, has been bought by Andrew Cocks, its managing director.
The sale concluded negotiations between Cocks and the Wong family which has owned Richardson &amp; Wrench Group since 1988.
Mr Cocks, who was appointed to the group in 2009, became a R&amp;W director last month along with his wife, Allison.
It has independently owned offices in NSW and Queensland of 98 franchise territories, the two most recent being Goulburn and Maitland.
The mainstays of the network founded in 1858 are its offices at Noosa, Double Bay, Elizabeth Bay and Mosman.
No sale price has been given on the business which had 123 offices when last sold for $11 million by businessman Neil Collins to the Malaysian interests, associated with the WTK Group of Companies which has timber, mining and shipping interests in South-East Asia.
It was the first Australian investment by the Malaysian-based group directed locally by Maroubra resident Mr K.C. Wong from 1988 until 2013. 
At the time Richardson and Wrench was the fourth largest Australian franchise network behind the 400-office L J Hooker chain, the 180-office Raine and Horne network and the 170-office ERA-Ray White group.
Established in 1902, in the small Queensland country town of Crows Nest, Ray White has evolved into Australasia’s biggest group with over 1,000 individual offices across Australia, New Zealand, Indonesia, India, Malaysia, Papua New Guinea, China, the Middle East and Atlanta USA. Last year, Ray White sold over $40 billion worth of property.
The 1988 R&amp;W consortium aimed at doubling the numbers of franchise offices, according to then Australian-based consortium member, Michael Sanchez.
The Wong's have decided on "a refocus of the group’s investments."
Prior to 1988 the business had traded in 1982 when Lend Lease Corporation sold it after 21 years ownership for just under $2 million on a turnover of about $100 million.
Turnover was boosted to $250 million by 1985 and around $750 million in 1988 with its then base of 78 offices in NSW, 34 offices in Queensland, seven in Western Australia and four in the ACT.
Its then owner Neil Collins secured $11 million then going into partnership with the Southern Pacific Hotel Corporation in developing the Travelcourt chain of 30 economy hotels around the country.
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Richardson & Wrench group has new owner

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The One Agency Real Estate group, which helps agents set up their own agency for a fee without the traditional franchise model, is targeting 160 offices by end-June, placing it within the top 10 networks in Australia.
It has more than 120 offices across Australia and New Zealand since opening its doors in 2008, with another 20+ businesses scheduled to open their doors before the end of March.
Founder &amp; CEO Paul Davies launched the business model after more than 30 years as a real estate business owner, across both franchise and independent agencies.
“In the real estate industry it’s almost impossible, as an independent agency, to compete with the big franchises in your local marketplace,” said Davies. “But buying into an established franchise is both constraining and costly, so I set out to create a model that helped business owners to keep as much of their profit in their own back pocket and one that allows them to choose how they operate and grow.”
Members of the group have the flexibility to promote their brand with less restrictions than a traditional franchise. 
“The modern world of real estate is forever evolving and One Agency is at the forefront of that evolution which is why I chose to join the group,” says Grant Baker, from One Agency Noosa in QLD, member since 2013. “The business model is perfectly geared towards the self-motivated agent wanting to achieve personal success and retain all the profits of their labour.”
“The whole process, including the initial discussions, the changeover and the ongoing support, reinforces our thoughts that One Agency is the place to be,” says Stephen Johnston, ex-major franchisee, now an owner of One Agency Dunedin in NZ.
“I had a 23 year association with LJ Hooker brand and in April 2014 we made the leap to join One Agency after careful consideration and research into the One Agency Brand. We have saved a lot of money in franchise fees and have the ability to do business in a more flexible manner, no fees on the rent-roll is a great bonus,” says Andrew Johns, the owner of One Agency South. “The transition has been great and the support from the team at One Agency operations team has been efficient, friendly and impressive.”
“When we were setting up in business, we were approached by some big name franchises and the set up costs were horrific,” says Michael Lister from One Agency The Forest in the Sydney suburb of Frenchs Forest, operating since 2010. “We figured ‘why are we going to work so hard for somebody else’s benefit?’ and so we decided to go with the One Agency model which suited us much better and allowed us to steer our own ship.”
According to a recent REB Employer of Choice Report, 65.4 per cent of respondents identified culture as their main motivation for joining their current network or company.
“We attract very motivated agents, some are new to business ownership and others who are already experienced and bring their established franchise agency to us, often because the costs of a traditional franchise suck up their profits. Our members are also able to react far more autonomously and make changes to suit their business in a far more nimble way, without having to jump through the restrictive hoops that a traditional franchise demands.”
Davies says One Agency is growing organically, and not through acquisitions. 
“We don’t use our cheque book to buy members, like some franchises do, and have no financial interest or partnerships with any of our members businesses. They pay us a one off membership fee and then a low monthly fee, regardless of their commission and in return we offer great branding, marketing tools, systems and a supportive culture.”
Despite such rapid growth, the group retains a boutique feel, yet offers the strength of an international brand, he says. 
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jonathanchancellor-7SQnKwU6yx

One Agency targets 160 franchises by end-June through its new business model

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One of the life’s most stressful events is buying or selling your first home – it’s said to be up there with getting married. 
The REIQ offers several tips to first home buyers and sellers that will help you navigate one of life’s trickiest transactions with confidence and with a degree of certainty that you’ll achieve a great outcome, whatever you want that to be.   One of the keys to success is engaging a real estate professional that you can trust to be your guide throughout the process. You need to find that person who you can connect with; that person who is experienced and can help you with the many decisions that you are about to make.    Choosing your agent:
Interview the experts and get their views. Meet with two or three agents and talk to them about what you want to achieve from the transaction. If you’re buying your first home a buyer’s agent is a very good idea and if you’re selling for the first time then speak to a few agents from different offices to get a feel for how they each will approach the sale of your home.   Ask questions:   1. What is your area of expertise? Many people don’t realise that real estate agents can engage in a broad range of activities, including selling residential property, auctioneering, commercial property sales, leasing and management, along with business broking. So you need to choose someone whose background is in the area that you’re seeking guidance in.   2. Feedback: You need an agent who has experience in giving feedback and having tough conversations with clients. Sometimes it can be difficult to give honest feedback to vendors who don’t want to hear that the price they want is unrealistic or the renovations are not a good idea. You want an agent who will be honest and up-front with you, so ask them about their style of feedback for vendors and what they do when they have to have the tough conversations.   3. Do you have professional indemnity insurance? This is not a statutory requirement so not all agents will have it, which is a problem if something goes wrong. All REIQ accredited agency members are required to carry a minimum of $1 million in PI insurance. It gives an added peace of mind. After all, you don’t want to be embarking on one of the biggest transactions of your career without a safety net, do you?   4. What is your dispute resolution process? Nobody wants to think that something will go awry in their property transaction but if it does, what options are available to you? If your agent doesn’t have a simple, accessible dispute resolution policy in place how will you know what to do in the event of a dispute?   5. How do you stay up-to-date with legislative changes? Not all agents maintain their professional knowledge and this can be concerning when you consider that property transactions are very heavily regulated by government legislation. You really need to make sure that the agent you choose keeps their knowledge up to date. All REIQ members are required to maintain their continuing professional development as a requirement of their membership and this gives you peace of mind to know that they are up to date.
ANTONIA MERCORELLA is CEO of the <a href="https://www.reiq.com/" target="_blank">REIQ</a>.
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Property 101: How to take the stress out of property purchasing and selling: Antonia Mercorella

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ASIC has remade two class orders that were due to expire in 2016. 
Class Order [CO 00/213] Real estate companies and Class Order [CO 05/1243] Licensing relief for valuations of real estate companies have been remade and consolidated into ASIC Corporations (Real Estate Companies) Instrument 2015/1049.
ASIC Corporations (Real Estate Companies) Instrument 2015/1049 provides relief for vendors, licensed real estate agents and valuers from the licensing and disclosure requirements of the Corporations Act 2001 with respect to real estate companies,
ASIC remade and consolidated the previous class orders without significant change before they sunset in 2016. 
The new instrument will continue the substantive effects of [CO 00/213] and [CO05/1243] with some minor amendments. These minor amendments include:
<ul>
<li>clarifying that the disclosure relief applies to general advice and dealing and the licensing relief applies to general advice only; and</li>
<li>combining the relief provided under [CO 00/213] and [CO 05/1243] into one instrument, giving relief from s707 and 911A(1) and covering vendors, real estate agents and valuers of real estate companies.</li>
</ul>
The repeal of the class orders follows ASIC consultation in August 2015 (refer: <a href="https://www.asic.gov.au/regulatory-resources/find-a-document/consultation-papers/cp-237-remaking-asic-class-orders-on-real-estate-companies-co-00213-and-co-051243/" target="_blank">Consultation Paper 237</a> Remaking ASIC class orders on real estate companies: [CO 00/213] and [CO 05/1243]). Only one submission was received.  This submission supported ASIC’s proposals and no concerns were identified.
ASIC’s policy on real estate companies is set out in Regulatory Guide 67Real Estate Companies (<a href="https://www.asic.gov.au/regulatory-resources/find-a-document/regulatory-guides/rg-67-real-estate-companies/" target="_blank">RG 67</a>), which has also been updated.
Background
Under the Legislative Instruments Act 2003, legislative instruments such as class orders sunset after 10 years unless action is taken to exempt or preserve them. This ensures that legislative instruments like class orders are kept up to date and only remain in force while they are fit for purpose and relevant.
A real estate company is a company formed for the purpose of owning and managing land and buildings. Shares in the real estate company are held by persons who wish to have an exclusive right of occupation and use of a particular area within the land or building owned by the real estate company.  A real estate company is less common than strata title and has historically been used where owners wish to exercise control over occupiers, or where conversion to strata title is not practicable.
The Corporations Act 2001 regulates interests in real estate companies because they involve ownership of shares in a company. Therefore, without relief, vendors of shares in real estate companies, real estate agents who regularly market or sell shares in real estate companies, or valuers who provide valuations of real estate companies would be subject to a regulatory burden that is unnecessary and disproportionate to the need for consumer protection. 
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ASIC remake real estate companies class orders

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The prospect of Squiiz becoming a successful property sales portal has been dismissed by estate agent John McGrath at an REB Leadership Series event for network bosses.
“The electronic classified game is over. REA has won and Domain is a strong second competitor,” he said.
“REA is making hundreds of millions of dollars, and they’re reinvesting it in technology, people, branding and marketing," said John McGrath, who is a non-executive director of REA Group.
The evidence from around the world suggested industry-owned portals such as Squiiz were unable to compete with specialist businesses.
"I don’t think Squiiz was ever going to work,” he said.
Century 21 chairman Charles Tarbey told the event it was too early to dismiss Squiiz, which was fighting for recognition in the same way that the two big portals did in their early days.
“We’ve got to remember that we’re the ones who control the data and we’re the ones who feed that data to REA and Domain,” he said.
“It’s a very hard battle, but Squiiz was never designed to compete with REA or Domain.
"It was designed as a platform for us to consolidate our data as an industry.”
Squiiz, which has just released an app, is confident it can capture 100 per cent of national listings by the end of 2016, its chief executive Nick Christian said.
The site was launched last November with the <a href="https://squiiz.com.au/" target="_blank">Squiiz</a> site having almost 200,000 listings on day one.
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Squiiz future queried by John McGrath

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New Zealand Sotheby’s International Realty real estate agency has purchased Auckland-based Milne &amp; Co.
NZSIR’s licensees and administrator will shift from NZSIR’s Herne Bay offices to the larger Milne &amp; Co space nearby. 
NZSIR managing director Mark Harris said by combining the unique attributes of the Sotheby's International Realty brand and the local experience and credibility of Pene Milne, we will create a very strong team in this key area of the Auckland market.
Founded in 2005 by Mark Harris and Julian Brown, the NZ branch of the global company has 11 offices – in Herne Bay and Parnell in Auckland, Matakana, Hawke’s Bay, Wellington, Nelson, Christchurch, Wanaka, Arrowtown and its head office in Queenstown.
Pic: New Zealand Sotheby’s International Realty (NZSIR) co-owner Julian Brown with Pene Milne.
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New Zealand Sotheby’s International Realty acquires Milne & Co

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The former LJ Hooker CEO and industry icon, Grahame Cooke, passed away peacefully this morning in Hobart following his 18 month battle with cancer. 
Grahame commenced his career in real estate in October 1968 by walking into LJ Hooker Hobart and asking for a job.
They took him on as an assistant property manager, and he remained with LJ Hooker for more than 36 years.
Following his stint in property management, he became state manager in Tasmania and then moved north to take the role of state manager in Queensland, before moving to Sydney in 1990 where he was appointed executive general manager of franchising.
In 1994, Grahame was appointed LJ Hooker CEO and helmed an era of growth and geographic expansion until his retirement in late 2004.
Author Peter Lightfoot, in his book ‘Laugh and the World Laughs with You’, referred to Grahame as the “man who brought franchising to LJ Hooker - and to adulthood".
During his time Grahame saw huge changes including the advancement of technology and its impact on the real estate industry.
He rode out booms and recessions and guided the company through its challenges for it only to emerge strong and triumphant, the current CEO Grant Harrod said today.
"Grahame was an exceptionally passionate man and he always saw people as the greatest asset of our brand and would often say the LJ Hooker family would inspire him everyday." 
Grant Harrod listed some of Grahame's indelible achievements as:
<ul>
<li>Formed the national marketing fund so we could launch the incredibly successful ‘nobody does it better’ television campaign and launched community based marketing.</li>
<li>In 1994, despite strong opposition he commenced development of the LJ Hooker System (E2), and I know he’d be very proud of NextGen today. He was also the visionary behind the <a href="https://ljhooker.com/" target="_blank">ljhooker.com</a> website.</li>
<li>Under his leadership, in 1996 LJ Hooker acquired the Challenge Realty Group in New Zealand. They were re-branded to LJ Hooker in 1998.</li>
<li>In 1997 he launched LJ Hooker Commercial.</li>
<li>And, he created the Captains Club.</li>
</ul>
On October 2009 he was invited to join the LJ Hooker Limited board of directors retiring in May 2014. 
"I had the privilege of sitting with Grahame, affectionately known as 'Cookie', on the LJ Hooker Board for almost five years," LJ Hooker Chairman, L Janusz Hooker said today.
"When I asked him if he would like to join the Board to help revitalize LJ Hooker, after having retired as the group CEO five years prior, he didn't hesitate.  
"Yes, absolutely, was his answer.  
"Having earned his LJ Hooker stripes over a very long and successful career, he was a formidable force in the boardroom and was fearless in his mission to protect the brand and the extended LJ Hooker family.
"He sincerely loved the brand and everyone in it.  
"Grahame was blood and custard through and through and his legacy is the enduring strength of LJ Hooker and its family culture which we all enjoy today.  
"Grahame's passion and business acumen has been an inspiration to me and my family for generations. 
"On behalf of the LJ Hooker family, our thoughts are with his wife Lynne, his family and friends," he said.
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Vale LJ Hooker chief Grahame Cooke

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Some 125 foreign investors have taken up an amnesty from the Australian Tax Office to declare their unauthorised ownership of real estate in Australia, according to documents obtained by Guardian Australia under a freedom of information request by the website.
The 125 investors have declared their status ahead of the FIRB deadline expiring on 30 November, the documents show.
A spokeswoman for the ATO repeated it had separately identified about 500 potential breaches of foreign investment laws it was investigating, a number of them from these disclosures.
Breaches of Australia’s foreign property investment laws prompted former Treasurer Joe Hockey to announce in September five forced sales of properties purchased by overseas buyers.
The former Treasurer then said 500 FIRB investigations are underway into more than $1 billion worth of residential real estate.
Tax commissioner Chris Jordan announced the investigations at a press conference with Joe Hockey.
They advised the properties to be sold are in Labrador on the Gold Coast, Ardross in Perth, <a href="/news/inside-darnley-hall-joe-hockeys-latest-forced-firb-trophy-sydney-divestiture-home">Sydney’s Elizabeth Bay</a>, Underdale in Adelaide and the Brisbane suburb of Stretton.
They were acquired unlawfully by foreign nationals from Singapore, Indonesia, the UK and China.
They voluntarily came forward under the amnesty announced in May.
The highest purchase price was $8.1 million, understood to be a penthouse in Elizabeth Bay.
The cheapest was a $265,000 property.
They have 12 months to sell the properties under the amnesty that ends of November, Joe Hockey said.
 
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