The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.

Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.

The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;

The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;

LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;

Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;

Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;

At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;

“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.

"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.

“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;

Fast Facts: What is Resilience LDI?&nbsp;

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>

The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.

Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.

There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" />

Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.

"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."

The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;

The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;

Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a>

Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a> 
&nbsp;

Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.

The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.

Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.

The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.

<img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" />

A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.

Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.

New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.

GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.

First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.

The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.

Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.

[smartcode_project:default project_id=135876 project_image_fid=368853]

The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.

GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.

Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.

[smartcode_project:default project_id=135876 project_image_fid=368851]

The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.

The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.

[smartcode_project:default project_id=135876 project_image_fid=368852]

For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.

GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.

"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.

"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."

[smartcode_project_cta:default project_id=135876]

GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.

The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.

&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.

The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.

<img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" />

A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.

The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.

"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.

The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.

Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."

The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.

<img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" />

The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.

S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.

Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.

John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.

First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

Buymyplace

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EXPERT OBSERVER
We’ve just entered what is traditionally the busiest time of the year for selling and it’s going to be a tough season. Property markets are cooling causing an increasingly tight and competitive market for those looking to sell. To achieve the best possible price in the current environment it is essential that sellers have greater control and visibility over the entire sales process – but how do you do this when you’re not actually in control?
Doing it yourself (DIY), is the best way to position yourself at the centre of a sale, and achieve the best outcome for you. You are actually the best person to sell your home as only you have your best interests at heart.
The benefits of selling, yourself
I’ve often heard that vendors believe they need a professional to facilitate the sale of their largest asset. My response to that is with that much at stake, shouldn’t you, the seller, maintain control? It’s a level of transparency that is very difficult to achieve with an agent, though can be achieved by taking the property to market yourself.
North America and Europe boast a significant portion of the market as DIY sales, with 23% of homes sold privately in Canada, 9% in the USA, and 44% in France. This sees vendors successfully transacting directly with the buyer market, realising the significant benefits of control, visibility and savings on commission. Whether selling yourself or engaging an agent, information is power.
Dedicated service
As the vendor, you are selling one property – your property. You have only one motivator; to sell your property at the best possible price. This means you can choose when you have open for inspections whether it’s during the week, after work, on weekends – it is completely up to you. You won’t need to limit potential buyers to a quick 30 minutes on a Saturday afternoon or the middle of the day when everyone is working.
Property knowledge
Agents will tell you no one knows local real estate like they do, and when it comes time to market the property, vendors are asked to leave their property so as not to “scare off” any potential purchasers. However, no one knows your property and your street like you do. You will always have a knowledge advantage over any agent, whether it be electricity costs, sunniest spot in the garden, or Joe across the road who keeps an eye on the place when you go on holidays – buyers love to hear these insider details from you.
Further, sellers are reliant on agents to tell them how many people attended, how many are interested and how many requested a copy of the sec. 32 etc. You never actually get the chance to engage with interested parties as they’re the property of the agents – agents who are not only responsible for the sale of your home, but the raft of other properties on their books.
Open for inspections continue and interest builds, still, the vendor has no contact with these ‘interested’ parties. The entire sales process is in the hands of the agent, a person who hasn’t slept a single night in the home and doesn’t know the unique benefits and quirks of both the property and the surrounding environment which make for outstanding sales attributes.
Money, money, money
The costs you will need to pay an agent upon the successful sale of your property can vary – often between 1.8 and 3 percent of the sale price. On a $600,000 home, that’s almost $20,000 you need to pay out of the sale of your home, out of your pocket. That’s a lot of money that could go to better use.
Immediate response to buyers
Provided you give them the privacy to look around, buyers appreciate the opportunity to ask questions of the owner directly, rather than filtering through an agent which draws out the process. You can manage open for inspections well by giving a quick outline of the house layout and advising buyers to come to you should they have any questions. Invariably the buyers have queries, whether it’s about recent renovations or a tree in the backyard so best to deal with these efficiently, and honestly.
Negotiation
Negotiation is often the major hurdle between choosing an agent or the DIY path due to the fear factor. However, it isn’t as complicated as it seems. By choosing to DIY you are able to be honest about your needs, and buyers can be honest about their own. In my experience, vendors who have elected to DIY report the process is less combative than it is using agents as the go-between. And when a rapport has been established between buyer and seller, it can make negotiation a pleasant and friendly experience.
If this isn’t for you, then there are services that can be offered where a professional can handle the negotiation component of the sale for you.
Overall, many first time DIY sellers advocate the experience as being a lot of fun. Being complimented on your home as well as achieving an agreement on price provides a huge sense of accomplishment and joy. Not to mention what can be done with the thousands of dollars saved in agent commissions.
Colin Keating is the CEO buyMyplace
 
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j.ballantyne1990-6AQqhLzZaK

Why you are the best person to sell your home: buyMyplace Colin Keating 

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<div>
The high cost of online Google advertising has been highlighted by auditors Grant Thornton amid the latest financial report on the ASX-listed, BuyMyplace (BMP).
The DIY selling platform has reported a $2.8 million loss in its recent half-year results, noting currently only three percent of listings are DIY in the Australian market, "an exceptionally low number compared to international markets."
It is still aiming for breakeven which is expected to be achieved at 350 listings per month, with an average order value currently sitting within $800 to $900.
BMP spent $870,000 on advertising and marketing, some 68 per cent up on the prior period, and more than half of its $1.5 million revenue.
In its independent auditors' review, Grant Thornton noted the company's latest net loss, up from $1.7 million in the prior period, indicated that "a material uncertainty exists that may cast significant doubt on the company's ability to continue as a going concern".
</div>
<div>BMP, founded in 2007, was listed on the ASX in 2016.</div>
<div> </div>
<div>Helping home sellers sell their homes without an estate agent for as little as $700, BMP has sold more than 5000 homes since 2009 worth $2.7 billion. It stood at 2800 home in early 2016 on its backdoor ASX listing.</div>
<div> </div>
<div>It claims 77 percent of the properties sell within 90 days.</div>
<div> </div>
<div>BMP, which has a market cap of $9.4 million, has had to rely on Google Ads and Google Keywords to promote its services to consumers.</div>
<div>
The newly appointed BMP CEO Colin Keating told The Australian Financial Review it was "not unusual" for micro cap companies at BMP's stage of growth to have concerns pointed out by its auditors.
But he said BMP remained highly viable, and that since taking over as CEO in November last year, a significant review had seen BMP address the increased cost of Google advertising.
Keating took over from Paul Heath who led the company during its IPO in early 2016 which envisaged the possibility of 8000 annual property listings, $10 million annual revenue and $3 million EBITDA by 2019.
The recent shareholder update advised BMP’s focus on promoting the brand through marketing had "led to a leading position in the market, ultimately resulting in an increase of web traffic and number of listings."
<div title="Page 2">
BMP enjoys $1 million working capital facility provided by KM Custodians which owns around 10 percent of the company's shares.
Currently the facility is drawn to $500,000.
It indicated net cash burn for the quarter of $880,000 was slightly higher than the previous quarter.
"The increased burn was directly associated with technology initiatives that have already delivered efficiencies in the operations platform.
"These efficiencies were reflected in a reduction of inbound tickets from existing DIY vendors thus providing a more effective customer experience in conjunction with establishing operating margin levers and scalability."
BMP recently undertook an extensive search of potential digital marketing agencies to replace the incumbent provider.
"This search highlighted several areas of opportunity in terms of optimizing the marketing spend and driving enhanced growth from a new digital marketing strategy," shareholders were advised.
The new digital marketing agency partner commenced with BMP earlier this month facing the challenge of the slow down in residential property listings across the Australian real estate sector, along with increased competition from other disruptors.
The former CEO Peter Butterss recently tendered his resignation as a director of the company with lawyer, Stephen Moulton joining the BMP board.
Property Observer understands BMP is currently in a number of discussions with potential merger partners and acquisition targets.
Discussions have taken place with five targets which could see to $16 million potential additional revenue in year one.
The shares are currently trading at 14 cents having hit a 2016 peak of 50 cents.
 
</div>
</div>
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jchancellor-FAypfDUnLy

Escalating online Google advertising cost hits BuyMyplace selling platform profit results

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DIY real estate agency buyMyplace Group announced it has entered into arrangements with a financial services group to offer up to six months’ interest-free credit to help customers prepare their home for sale or in covering their sale or moving costs. 
The two products being introduced through through its tie-up with subsidiaries of the FlexiGroup Limited are: 
<ul>
<li>Oxipay, a buy now and pay over time finance solution. Customers will be able to use Oxipay to upgrade their buyMyplace package or cover other costs such as conveyancing or property inspections over four instalments. </li>
<li>Up to six months’ interest free on purchases of $250 or more via the Lombard 180 card. The facility will allow buyMyplace customers to manage pre-sale expenses such as small renovations, landscaping and other home improvements which may in- crease their sale price, as well as post sale costs, such as moving or costs associated with their next property purchase.</li>
</ul>
The arrangement is in line with buyMyplace’s aim to become a one-stop property shop, according to its CEO Paul Heath.
“We want to give vendors the best outcome when it comes to the sale of their property and a smooth transition to their next home,” said Heath. 
“House prices are increasing and by giving vendors an interest free option to make improvements to the property they have for sale, or even enabling a renovation to their next home, we can create a better outcome while reducing some of the stress in moving.” 
Heath said that buyMyplace would not profit out of this arrangement as it will not earn any commissions nor pass on any merchant fees to its customers. 
<a href="https://buymyplace.com.au/" target="_blank">BuyMyplace</a> follows a fixed fee Purplebricks-style operating model. Heath said earlier that vendors would save more than $15,000 in agent commissions through its model.
CEO of FlexiGroup, a top 200 ASX company, Symon Brewis-Weston welcomed the partnership, saying: “It is exciting to be working with leading DIY commission free real estate compa- ny, buyMyplace, to provide its vendors greater convenience as well as an easy transition between properties. 
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prateek24-ezbwHMbNAk

DIY real estate agency buyMyplace partners with FlexiGroup arm to offer interest-free credit to sellers

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BuyMyplace has signed a conditional agreement to acquire on-line conveyancing business MyPlace Conveyancing.
MyPlace Conveyancing was founded in October 2014 in Bendigo, Victoria with the backing of local law firm Robertson Hyetts.
Paul Heath, CEO of buyMyplace said conveyancing is an essential element of any property sales transaction and My Place Conveyancing’ provides the appropriate contracts for the respective state legislations as well as the usual conveyancing services required for transfer of property.
"The addition of conveyancing to our in-house product offering will provide our customers with a complete ‘one stop shop’ solution from listing their property through to settlement," he said.
“MyPlace Conveyancing is a natural acquisition for buyMyplace with buyers and sellers able to manage all contact via desktop and telephone, without the need to visit a conveyancer or solicitor.
“With approximately 500,000 properties listed in Australia, each year, Conveyancing is estimated to be in excess of a $1 billion market and this is a significant additional opportunity for buyMyplace.
Tim Robertson, of Robertson Hyetts Solicitors, which is selling MyPlace Conveyancing to buyMyplace sees the sale as a positive one for both parties.
“We have spent almost three years developing Myplace Conveyancing and we feel that buyMyplace, an online real estate business, is ideally placed to acquire the company and take it to the next level due to the obvious synergies,” he said.
The acquisition is expected to be earnings and cashflow positive for buyMyplace in FY2018, with completion of the acquisition expected to occur in July.
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BuyMyplace acquires MyPlace Conveyancing

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Commission-free real estate company buyMyplace has achieved record results in revenue, gross profit and listings, with revenue growth up 111 percent on Q1 2016 and 23 percent on the prior quarter.
Thy suggest its commission-free proposition for Australian property vendors.comes with savings of around $20,000 on commissions and fees.
Despite a total market downturn of 4.9 percent on the same period last year, buyMyPlace had an extremely productive quarter, Paul Heath, chief executive office of buyMyplace said.
<a href="/images/2016/10/24/BMP%20revenue.jpg" target="_blank">Click to enlarge</a> 
<img src="/images/2016/10/24/BMP%20revenue.jpg" alt="">
“We have essentially doubled the business in just two quarters,” he suggested.
buyMyplace is also heavily promoting its national auction capabilities from October, giving vendors throughout Australia a wider suite of options to sell their property themselves.
“Auctions are an increasingly important element of our services and key to our growth in Sydney, Melbourne, Brisbane and Gold Coast, where auctions are more common”, says Heath. 
“We can provide virtually any vendor in Australia some of the best Auctioneers in their local area who will not only auction the property, but will also oversee the signing of the contracts, once the property is sold’, Heath continues. 
In line with its promises at listing on the ASX in March, buyMyplace has previously announced strategic partnerships with AFG to offer mortgages, finance and insurance, plus Movinghub for utilities connection services.
It has now added <a href="https://beforeyoubid.com.au" target="_blank">beforeyoubid.com.au</a> to the partnership stable, offering vendors and buyers the option to arrange independent pest and property inspections for the property and recover a portion of the cost to other potential buyers requiring the reports. 
From October, buyMyplace launched the “Ultimate Exposure” package to vendors at $1795 which will include professional photography, copywriting, vendor support from one of our licensed real estate agents, professional negotiation and a feature listing on <a href="https://realestate.com.au" target="_blank">realestate.com.au</a> or priority placement on <a href="https://domain.com.au" target="_blank">domain.com.au</a>.
“For under $2,000, we want to provide vendors virtually everything they might expect from a traditional real estate agent, and remove the stress of negotiations, which some people may feel uncomfortable managing alone,” says Heath. “Not surprisingly, we have already had strong interest in this package, as well as sales to a number of vendors.”
BuyMyplace has recorded a 238 percent increase in leads on Q1 FY16 indicating the record breaking quarters it has achieved are projected to continue in the future.
It gross profit is up by 31 percent on prior quarter and more than 3,000 vendors have successfully sold their properties via buyMyplace.
“We are also very pleased with how our increased marketing has performed with unique visitor traffic to our site in Q1 up 88 percent on prior corresponding period and up 17 percent on prior quarter”, Heath advised.
<a href="/images/2016/10/24/BMP%20visitors.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/24/BMP%20visitors.jpg" alt="">
 
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Developments

New apartments

New townhouses

News