A wave of investment, renewal and precinct growth continues to shape the northern edge of Macquarie Park, where daily life is supported by a rare combination of university activity, corporate employment, major retail, and expansive green corridors. It’s this convergence of amenity and connectivity underpins the setting for <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>’s <a href="https://www.apartments.com.au/new-apartments/la-vera-94-talavera-road-macquarie-park-nsw-2113">La Vera</a>, which has now topped out and is tracking toward completion in mid-2026.

Within this pocket of the precinct, residents move easily between the area’s key anchors. Macquarie Centre, home to more than 360 retailers, fresh food offerings, dining and entertainment, sits at the heart of local convenience and functions as a major transport interchange. The Metro, T1 rail line and extensive bus network place much of Sydney within quick reach, while surrounding arterial links support direct access to neighbouring districts.

[smartcode_project:default project_id=134951 project_image_fid=5829]

Green space remains a defining feature of the immediate environment. Lane Cove National Park stretches along the northern boundary of the precinct, offering bushland trails, cycling routes and quiet riverfront pockets. Shrimptons Creek and the campus grounds of Macquarie University extend these recreational networks, softening the urban setting and creating a daily connection to nature that informs the project’s architectural response.

<a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> have shaped La Vera around these contrasts. The building’s northern elevation adopts an organic, curvilinear form that mirrors the natural topography of the national park. Three sculpted forms soften the tower’s profile and encourage a stronger transition between indoor living areas, balconies and the broader landscape.

[smartcode_project:default project_id=134951 project_image_fid=223737]

Cox Director Felipe Miranda says the building’s outlook played a central role in the design process.

“The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park… The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies,” Felipe Miranda of Cox Architecture said.

Toward the city-facing side, the design shifts to a more urban expression. A gridded facade and extensive glazing capture CBD views, creating a dual strategy that blends ecological outlooks with metropolitan orientation.

[smartcode_project:default project_id=134951 project_image_fid=5827]

La Vera delivers 169 residences across one- to four-bedroom layouts, reflecting the needs of young families, downsizers, first-home buyers and investors seeking long-term certainty within a high-amenity location. From the project, residents can walk to Macquarie University, Macquarie Hospital and nearby corporate offices, reach national park trails within minutes, and enjoy retail and dining without relying on a car.

The project is delivered by Urban Property Group, a 4.5-star iCIRT-rated developer-builder with more than three decades of experience. The company has become a leader in adopting 10-Year Latent Defects Insurance (LDI), first introduced on its Parq Bexley development and now embedded into its pipeline.

[smartcode_project:default project_id=134951 project_image_fid=223727]

La Vera is the first development in Macquarie Park approved to offer this 10-year LDI policy, adding another layer of protection for purchasers and reinforcing the transparency of the construction process.

Urban Property Group CEO Patrick Elias says this assurance has become increasingly important for buyers navigating the off-the-plan market.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been… Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share,” Urban Property Group CEO Patrick Elias said.

Urban Property Group's in-house construction team is forecasting a mid-2026 completion, with <a href="https://www.apartments.com.au/project-marketer/home789">HOME789</a> appointed as the project marketer.

[smartcode_project_cta:default project_id=134951]

Staff Writer

La Vera delivers a nature-connected address within Macquarie Park’s core

<a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA</a>&nbsp;doesn’t just rise over North Sydney, it redefines it. Now in its final release, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>’s $1 billion architectural statement is not just complete, but already reshaping the way people live, connect and dine in this rapidly evolving harbourside CBD.

Positioned beside the new Victoria Cross Metro Station and boasting panoramic views across Sydney Harbour, Aura’s 386 residences crown a mixed-use precinct designed with unapologetic ambition. The curvaceous sandstone-inspired form by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, paired with <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richard Stanisich</a>’s understated interiors, sets a design tone that’s both monumental and intimate.

At its peak, literally, the two penthouses so spectacular they command their own names; La Davina and Il Magnate. The residents are spread across the&nbsp;entire top floor, offering what many consider the most refined residences ever built in North Sydney. Designed by Richard and Kirsten Stanisich, each four-bedroom home is meticulously crafted to evoke calm, space, and permanence.&nbsp;

<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/VB70993aG-I?si=adRBlXQliYmYvaSz" title="YouTube video player" width="560"></iframe>

The kitchens are fully wrapped in natural stone, with integrated Gaggenau appliances, Sub-Zero fridges, concealed sculleries, and even a zip hydro tap delivering boiling, chilled and sparkling water on demand. A linear stone fireplace anchors the open-plan living space, dividing lounge and dining zones with quiet sophistication.&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292861]

The master suite, meanwhile, feels more like a private retreat, complete with a custom stone makeup vanity, walk-through dressing area, and spa-inspired ensuite with heated stone floors, a freestanding Villeroy &amp; Boch tub, and timber veneer joinery throughout.

Kirsten Stanisich, Director of Richards Stanisich, said the penthouses offer incredible scale reflective of a single residence.&nbsp;

“We sought inspiration for these remarkable residences from the classic top-floor Parisian apartment," Stanisich said.

"We looked at what made these French apartments so elegant and found it really came down to their scale. It was ultimately this generosity of space that we used for the AURA penthouses, where we’ve designed considered rooms with deep large-scale proportions."

[smartcode_project:default project_id=30959 project_image_fid=310337]

Everyday living at Aura feels no less elevated. A dedicated 24-hour concierge, Technogym fitness centre, sky dining terraces, and a resort-style pool serve a lifestyle designed to rival luxury hotels.

At street level, Aqualand’s own hospitality arm, Etymon Projects, curates a precinct of LA-style bistros, Japanese fine dining, and local wine bars, all seamlessly integrated into the building’s sculptural podium.

[smartcode_project:default project_id=30959 project_image_fid=310337]

This final chapter, aptly dubbed The Finale, is more than a sales phase, it’s an invitation to two of the most exclusive apartments ever to be built in North Sydney.

With limited residences remaining, buyers can access curated incentives including stamp duty rebates, rental guarantees, legal fee coverage, and even $20,000 towards dining within the precinct.

From generous one-bedders to The Icons, two singular penthouses priced well into prestige territory, Aura’s offerings reflect a scale and calibre rarely seen in urban Sydney. And with move-in now immediate, this is no longer a promise of future luxury. It’s happening.

[smartcode_project_cta:default project_id=30959]

Aqualand unveils penthouse collection at AURA By Aqualand in North Sydney

There’s no sign of the development wave that began several years ago slowing along Old Burleigh Road.

Around 10 new apartment developments are either underway or preparing to launch along the 800-metre strip stretching from the southern edge of Surfers Paradise towards the heart of Broadbeach, collectively adding just shy of 1,000 new apartments to the beachfront corridor.

The latest plans propose a further 30 apartments to replace an original six-unit walk-up on a 658 sqm site at <a href="https://www.apartments.com.au/new-apartments/20a-old-burleigh-road-surfers-paradise-qld-4217">20A Old Burleigh Road</a>. The 14-storey building has been designed by Ferro Chow Architecture, which recently joined the Elevation Architecture Group.

The developer behind the project is Geoffrey Booth, whose Future Liv In has focused on delivering rental accommodation across regional Australia.

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="99d393e7-d404-43bc-80cb-6255c39b83d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.44%E2%80%AFPM.png?VersionId=ZFT8F3mOny4M4ut.kFF3woC9WH9oR5gT" />

The Old Burleigh Road development will comprise 18 two-bedroom apartments, 10 three-bedroom apartments, and a single four-bedroom residence occupying the entirety of level 12. Above, the building will be crowned by a two-storey penthouse with its own private lift, several multi-purpose rooms, and two rooftop terraces — one featuring a puppy lawn and spa, the other offering a private swimming pool, sunset deck, and built-in barbecue.

Resident amenities will be located on the second level and include a pool with adjoining spa, cabana, and pool deck, along with an indoor residents’ lounge featuring a bar and an alfresco barbecue kitchen.

In the architectural statement submitted by Elevation Architecture, the project is referred to as “UMI”, which the firm says has been “inspired by the majestic hinterlands and shaped by the coastal climate”.

“It is an exemplar of how community living can still feel at one with nature, breathable, and deeply connected in place,” the architects noted.

They added that the site benefits from established building separation to adjoining towers, helping to maintain privacy, sunlight, and residential amenity, while still offering direct beach access within an urban setting.

“Drawing inspiration from the Gold Coast hinterlands and the region’s natural landscape, the podium and tower detail highlights the contrasting elements of treetop green and cliff-face peach. The vibrant texture and materiality shaped by time has a richness in depth and character.”

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="b3d6c923-a0ab-4d74-86da-177313447e8e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.38%E2%80%AFPM.png?VersionId=i2fygmoVQM6hWpbATTAW_yTitoMTrnI1" />

Old Burleigh Road has become a hotspot for developers, with the three-tower Jewel development kickstarting a wave of projects up and down the strip when it was completed in 2020.

Currently under construction and approaching completion is <a href="https://www.apartments.com.au/new-apartments/faro-broadbeach-123-old-burleigh-road-broadbeach-qld-4218">FARO Broadbeach</a> by 5Point and Bottega, 21 large-scale half- and full-floor apartments. 5Point is also behind the recently launched <a href="https://www.apartments.com.au/new-apartments/lumara-108-old-burleigh-road-broadbeach-qld-4218">Lumara</a>, another 37 apartments to add to the pipeline.

Luxury builder GRAYA is progressing construction on <a href="https://www.apartments.com.au/new-apartments/enclave-by-graya-118-old-burleigh-road-broadbeach-qld-4218">Enclave</a>, its first Gold Coast tower, while Polycell remains the most active developer on the street. They are preparing to launch <a href="https://www.apartments.com.au/new-apartments/sandpiper-broadbeach-155-old-burleigh-road-broadbeach-qld-4218">Sandpiper</a>, a 50-storey redevelopment of the former Sandpiper Holiday Resort that will deliver around 200 apartments alongside extensive resident amenity. The group also has another 130-apartment project approved nearby, as does <a href="https://www.apartments.com.au/news/qld/dvb-approved-for-second-broadbeach-apartment-development">Dean Gallagher’s DVB Projects</a>.

Joel Robinson

First look: Old Burleigh Road apartment development wave continues

Sunshine Coast developer Habitat Development Group continues to position itself as one of the region’s largest new apartment developers.

Its latest project is in Maroochydore, where it is currently delivering <a href="https://www.apartments.com.au/new-apartments/the-millwell-2-millwell-road-east-maroochydore-qld-4558">The Millwell</a>. Adjacent to the new 53-hectare Maroochydore City Centre project, Habitat is planning a further 180 apartments on a 3,468 sqm site at <a href="https://www.apartments.com.au/new-apartments/132-136-aerodrome-road-maroochydore-qld-4558">132–136 Aerodrome Road</a>. The site was purchased with approval for a smaller 13-storey, 103-unit building.

Habitat will demolish the two existing retail centres, currently home to the Salvation Army Family Store and Neighbours Aid, and replace them with an 18-storey building featuring the significant rooftop amenities that have become a hallmark of Habitat developments in recent years. The rooftop will include both indoor and outdoor spaces, anchored by an infinity swimming pool.

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="ad434d07-666b-4614-b33e-530ad6a2d261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.33%E2%80%AFAM.png?VersionId=7pyLsPWKQuwv0us3_v.9DmbzEc2VZe9Z" />

There will be a mix of one- to four-bedroom apartments.

The Development Assessment Report, submitted to the Sunshine Coast Council, says the proposal&nbsp;is not speculative, but a response to both zoning intent and demonstrated housing need.

“The proposed development represents an appropriate and logical intensification of the site, consistent with the planning framework and the intended urban outcomes for the locality.”

Across the Sunshine Coast, councils are increasingly scrutinising not just height or yield, but whether new projects genuinely align with the long-term structure plans underpinning growth corridors. The&nbsp;ASTP Planning Report&nbsp;reinforces the approach, noting that the project has been shaped around site responsiveness rather than generic typology.

“The development has been designed to respond to the physical constraints and opportunities of the site, while delivering a high-quality residential outcome that integrates with the existing and emerging urban context.”

<img alt="Habitat" data-entity-type="file" data-entity-uuid="3a03fc54-4ca5-4868-88d0-eeced70604e2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.28%E2%80%AFAM.png?VersionId=1pkK3lJrrZjkghTLBReM2zatcas4Nc4B" />

In mid-2025, Habitat, a developer that also builds its own projects, commenced construction on The Millwell, located just over one kilometre from the new proposal. The Millwell will comprise more than 200 apartments across two eight-storey buildings.

Habitat also has two projects on Lake Kawana in Birtinya: <a href="https://www.apartments.com.au/new-apartments/st-clair-birtinya-930-931-waterside-retreat-birtinya-qld-4575">St Clair</a>, a 200-unit, two-building development launched last year and set to welcome buyers this year; and Esperance, a 175-apartment project currently progressing through the development approval process.

First look: Habitat continues to bolster Sunshine Coast apartment pipeline with Maroochydore development plans

John Camilleri, the breeder of legendary racehorse Winx, is set to deliver a landmark two-tower beachfront development that would redefine the Surfers Paradise skyline.

Camilleri, who spent around $100 million acquiring development sites across the Gold Coast in 2025, has lodged plans for two new towers on the dress-circle stretch of Garfield Terrace, just two days before Christmas.

In assembling the site, Camilleri's Celestino Developments has effectively acquired the 71 Garfield project by Iris Capital and AALTO by Weiya Holdings, creating an unrivalled <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">4,000 sqm beachfront holding along Garfield Terrace</a>.

The proposal comprises two residential towers of 55 and 48 storeys, linked by a dramatic skybridge which will home “exclusive VIP and wellness amenities.”

In total, the development would deliver 275 two-, three- and four-bedroom apartments across the two towers, rising above a shared landscaped podium that incorporates a central green space and a beachfront swimming pool stretching more than 90 metres.

<img alt="DBI" data-entity-type="file" data-entity-uuid="097900f3-6bef-4919-b168-b08f2f762876" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.37.58%E2%80%AFAM.png?VersionId=et0SpmcvaPPVrexI_zWi46BVFtZBxAzx" />

Architecture firm DBI, in documents submitted to Gold Coast City Council, said the project at 63–79 Garfield Terrace would “establish a new benchmark for beachfront residential living on the Gold Coast.”

"The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience. Together, the 48-storey North Tower and 55-storey South Tower form a distinctive twin-tower composition whose dynamic silhouette will make a significant contribution to the Surfers Paradise skyline."

DBI said the architectural language draws inspiration from the fluidity and movement of the coastal landscape.

"Each tower is defined by organic, curving forms and continuous balcony ribbons that wrap the buildings, providing deep shading, enhancing environmental performance, and reinforcing the rhythmic, sculptural expression of the façade. These balcony forms also reduce the apparent mass of the towers while maintaining strong visual continuity from podium to summit. Sculpted reflective downturns run along the western spine of both towers, shifting and lifting as they extend upwards to frame service zones and open eastward to maximise ocean views."

<img alt="Garfield" data-entity-type="file" data-entity-uuid="a2a00ce3-a0e9-45d6-b4b5-b7baed592ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.53.40%E2%80%AFAM.png?VersionId=DnruWV1dhLrtXOeElwekyd7vPq2gw55t" />

The project’s most striking feature is the skybridge at level 45, which will house executive lounges, formal dining spaces, wellness facilities and panoramic ocean-facing views.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI added.

The podium will host an extensive suite of recreational amenities, including resident lounges, private dining rooms, a large open green lawn, and the signature 90-metre pool stretching along the beachfront. The pool is divided into lap, lounge and children’s zones.

The southern end of the podium will accommodate additional wellness facilities, including a gymnasium, plunge pools, treatment rooms and a dedicated yoga lawn.

<img alt="Garfield" data-entity-type="file" data-entity-uuid="ee1b4f25-231f-4804-83b1-a573a1481962" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.55.47%E2%80%AFAM.png?VersionId=zObzIA3D5w7EwqPsHjr2pKrA4vbB28zL" />

There will be 127 apartments in the North Tower and 148 in the South Tower, including multiple penthouses, while the Enderley Avenue and Oceanway frontages will be activated by a series of food and beverage tenancies.

Camilleri emerged as the most active site acquirer on the Gold Coast in 2025. He spent just over $30 million acquiring Pacific Point, a 10-level Surfers Paradise apartment block and an adjoining three-level duplex, from fellow racing identity and Aquis billionaire Tony Fung. Plans are now underway for a 93-apartment, 40-storey tower on the 1,682 sqm site.

He also paid $53.65 million for the 1,500 sqm Garfield Terrace site previously marketed as AALTO by Weiya Holdings, before acquiring the adjoining parcel from hotel billionaire Sam Arnaout’s Iris Capital, the developer behind V&amp;A Broadbeach.

First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge

Crisis

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We’re going to benefit from the shutdown imposed by the virus, in infinite ways. It may not feel like it at the moment, and I don’t disregard the pain many are going through, but Australia will look back at this crisis as a time that changed the nation for the better.
The discussion now is about how and when we return to normal. But the new normal will be different to the old. It has to be.
One of the big lessons is that we cannot continue to have so many important things made in one country – or anywhere offshore. There are things we need to make in Australia. Manufacturing is poised for a revival, with benefits in employment. This will be part of a strong economic recovery.
The corporate twits who thought it made sense to locate customer call centres offshore because it saved a few bucks are now reconsidering their strategies. They need to bring customer service back home and in the process they will have fewer angry and frustrated customers. And create jobs in Australia.
The situation has forced us to innovate and to work harder at helping our customers. Real estate has found ways to function without live auctions and open houses. We’re seeing examples of online auctions achieving sales well over the reserve price. One-on-one inspections of properties have taken us back to old service standards and getting to know buyers one-on-one. Everyone benefits.
Many of us have realised how much we value the simple things we took for granted, like meeting friends for a cuppa or taking the family to the beach. When the restrictions are lifted, Australians will party like they never have since the end of World War Two – not extravagantly but by going to cafes, pubs, theatres, parks and beaches. A recent survey indicates people plan to take holidays in Australia. Many of the lost jobs will come back (not all, unfortunately).
Some people have learned, by accident, how to save. The restrictions have stopped us going out and spending. The improvement to the bank balance has been an eye-opener. Now some of us know how to get on top of the mortgage and young adults have been shown a way to save a deposit for a first home. First-home buyers with secure jobs will be busy in the second half of the year.
The resources sector has remained steady in the shutdown period. Queensland locations with links to the mining industry have experienced an uplift in rental demand amid the virus crisis, with rents actually rising. China, our biggest trading partner, is projected by the IMF to experience moderate economic growth this year and a boom next year. I’m expecting a resources boom in Australia as China and other nations get ambitious about economic recovery. Real estate markets influenced by resources links may surge – but investors should proceed with caution, because these are fickle and volatile markets.
A more engaging trend with impacts on real estate is the one I wrote about last week. We can expect an increase in people moving from the big cities and buying in lifestyle areas within an hour or two of the city. This movement has been enhanced by technology which allows people to work remotely – and will be exacerbated by the shutdown, which has forced people to work from home.
Some will make it a permanent arrangement. Expect uplift in markets like the Central Coast and the Southern Highlands in NSW; Ballarat, Bendigo, the Latrobe Valley and elsewhere in Victoria; and the Sunshine Coast in Queensland.
As an aside, the virus has done all of us a favour by delivering a major come-uppance to the ugly bastards who run global oil businesses and regularly hold the world to ransom with their cynical manipulation of supply and prices. We’ve all saved money by needing to fill up our cars less often and paying less when we do. Will it change our habits post-shutdown? Hopefully, but probably not.
The virus has generally done the environment a big favour. The before-and-after shots of some of world’s big cities are a revelation, including some in Australia. There’s been a big reduction in emissions. The greatest benefit of the shutdown would be achieved if we learnt something from that. Will we? I fear we will easily slip back into old habits.
But, amid everything, we’ve learnt who the real heroes are and how much we underpay them. We’ve discovered that we can do without over-rated footie players and self-absorbed corporate executives, but not without under-resourced and under-appreciated nurses. Boris Johnson has learnt that more than most.
And we’ve seen a cultural shift in politics and business. There’s been a refreshing absence of adversarial politics. The country apparently can function without people shouting at one another in Parliament. Let’s make that a permanent change.
Business in many ways has sought to be part of the solution, even including the major banks. The only sectors which haven’t entered into the spirit of pulling together have been insurance and some sections of news media.
Who knows – maybe going out of your way to help people is actually good for business.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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terryryder-YECXbqmri2

The future benefits of the coronavirus crisis: HotSpotting's Terry Ryder

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EXPERT OBSERVATION
Following times of crisis, real estate is traditionally the first to bounce back.
COVID-19 bears striking similarities to the Spanish Flu pandemic of 1919, when despite the media creating fear and hysteria through alarmist headlines, capital city housing prices didn’t fall at all. They boomed in 1919 and then continued to rise by more than ten per cent each year until 1921.
After the national recession (1990-91) and after the GFC (2008-09), it was the real estate market that most quickly saw a return to pre-crisis activity and values.
Why? Because everyone needs a roof over their head  - be that as an owner occupier or a tenant, a business owner or employee, an educator or student, a surgeon or a patient. Be that as a grower or manufacturer, wholesaler or retailer.
I see no indication that this crisis, this pandemic, will be any different. And look what the federal government has done in light of COVID-19? It has stepped in to look after the real estate market as an asset class. I haven’t seen any similar level of intervention in other asset classes, including the share market.
I look at the stages we have already gone through since the first suggestion of COVID-19 affecting the real estate industry some six or seven weeks ago, and what is still to come.
For some perspective, the coronavirus pandemic was confirmed to have reached Australia on January 25, 2020. The first death in this country was recorded om March 1st. On 24th March, realestate.com.au reported that ‘Every day is changing in the wake of coronavirus and it is becoming clear that the property market will not be immune.’ On 12th April, it reported ‘The coronavirus pandemic is having a catastrophic effect on Australia’s economy. While it’s still too soon to tell what damage has extended to the property market, it will unlikely come out unscathed.’
Stage 1 - Outbreak. Taking away of freedom.
Our federal and state governments introduce necessary rules and guidelines to restrict the spread of COVID-19.
Stage 2 - Acceptance
We are adapting to the new way of doing things. Businesses are adapting and pivoting, but initial acceptance turns to ‘get me out of here’ as the novelty wears off. (Staff gravitate back to the office environment, for example). Real estate transactions still occur as people still want and need to buy, sell and rent. Rules around inspections change. Auction go virtual. The real estate industry responds and the better the leadership, the more continuity is ensured and the more fluidly this this carries us through the peak crisis period. We are now starting to see a light at the end of the tunnel.
Stage 3 - Return to ‘normal’. Almost there.
This is ahead of us. It is a re-entry into life as we knew it. It will be complex to navigate, and business leaders and employees alike have critical roles to play in restructuring and moving forward. Courage, confidence, compassion and above all, great leadership, are required.
Stage 4 - The ‘new’ normal
There is a need to re-imagine the old, to bed down new or adapted strategies, and thrive. Businesses won’t go back to what they knew before the pandemic. They will reinvent themselves to be more resilient.
The real estate industry has got this.
We are at the cusp of the positive phase but stage 3 will not be a ‘bang, bang, bang’ like stage 1. This will be more gradual – over three to six months rather than a matter of weeks.
In the medical landscape, the focus is on the flattening of the curve. In the real estate landscape, we look to the upward curve of positive indicators.
This COVID-19 pandemic is going to give us a ‘new normal’ but those trends will shape the way we live and work.
Nothing will change the need for a roof over our heads.
Share market losses and recessions are not necessarily predictors of property declines. Confidence will drive economic recovery, and real estate activity will be significant as ‘flight to safety’ sees property offering better options in comparison to other asset classes given the low interest rate environment and the fiscal policies put in place by governments in response to COVID-19. (Relief packages, stimulation packages, funding and support)
One of the most googled questions right now is: How will coronavirus affect house prices?
Some markets may experience this more than others, with a decrease in values – but not at alarmist levels. I do not believe we’ll see significant drops or forced sales across the board.
Right now, around one-third of the world’s population is living under some sort of lockdown. Only public health indicators will bring an ‘end’ to the pandemic.
Three factors determine the severity of economic downturn: the degree of isolation and social distancing expected; how long these things go on for; and monetary and fiscal policies.
Australia is in a good space. As is New Zealand.
While no sector of the economy is being spared from COVID-19 impact, real estate is Australia’s biggest industry and its greatest contributor to employment. It represents more than 13 per cent of GDP, which is why those leaders who must manage and plan the economic and policy response to this pandemic will keep their focus firmly on real estate.
Housing is Australia's single largest asset class. Residential property outperformed all other investment types, including shares, over the past 20 years.
Real estate makes the economy stable, has tangible value, provides jobs and is an income generating asset. Real estate exists to provide shelter. Real estate will be a major pillar of recovery.
And when we come out the other end, our leaders – across government, real estate and other sectors, will be even better prepared for any crisis of the future.
MICHAEL DAVOREN is the Managing Director at RE/MAX Australia
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All roads lead to real estate: RE/MAX's Michael Davoren

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<div>The housing affordability crisis is now one of the biggest issues in Australia, causing widespread social, political and economic implications, and according to Douglas Driscoll, chief executive of real estate group Starr Partners.</div>
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<div>Housing affordability is not just a problem for the young generation, it impacts other echelons of the Australian population.</div>
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<div>Over time, Australia has started to view property as a business opportunity as opposed to merely somewhere to live, and it is now a national obsession. In fact, Australia has the highest number of residential mortgages per capita in the world, with house prices having risen at a rate that far outperforms that of household income and rents.<a href="https://outlook.office.com/owa/?realm=propertyobserver.com.au#_ftn1"></a> </div>
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<div>He said he is perplexed by the Government’s restraint and says it needs to move beyond deploying election tactics because inactivity is no longer an option.</div>
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<div> “There’s a lot of conversation but little action being undertaken to reach a resolution. You don’t need to be a professor of economics to see that we need a levelling of the playing field. We require immediate and prudent Government intervention that will protect the interests of future generations, not just win votes at the next election,” he said.</div>
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<div>“If you simply just tried to give first home buyers more of an edge this will prove counterproductive and might have disastrous consequences; it could simply add more fuel to what is already a roaring inferno and see property prices artificially increased to a whole new level. </div>
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<div>"Resultantly, investors will just end up outbidding owner-occupiers and paying even more. </div>
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<div>"Conversely, I don’t think it’s fair that we simply hone in on the wealthy.</div>
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<div>"In my opinion, this issue can only be resolved by pincer movement, applying tactics on both sides of the spectrum is the only way we can begin to reach a more level playing field."</div>
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He believes affordability could be addressed on a state-level.
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<div>“We are so obsessed with our own little patch of Australia, but at the end of the day we need to remember that regional Australia and even other capital cities are not faced with the crippling prices we have in Sydney," he said.</div>
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<div>"The matter is met with incredible complexity; if we change legislation, what does that mean for the other eighteen million Australians living outside of the harbour city?”</div>
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<div>Looking abroad, less than 50 percent of residents in Germany own their home. Tax regulations, stable prices, availability of housing and risk-averse banks make renting the more attractive option<a href="https://outlook.office.com/owa/?realm=propertyobserver.com.au#_ftn2"></a>. </div>
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<div>Contrastingly, the UK Government has a number of options for buyers under affordable home ownership schemes. Shared ownership is a scheme that allows UK residents to buy a share of their home and pay rent on the remaining share.<a href="https://outlook.office.com/owa/?realm=propertyobserver.com.au#_ftn3"></a> </div>
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<div>DOUGLAS OFFERS SIX SOLUTIONS TO THE HOUSING AFFORDABILITY CRISIS:</div>
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<div>1.       DISCOUNTED MORTGAGE RATES FOR FIRST HOME BUYERS. Subsidies already exist for students, with the availability of extremely competitive low-interest rate loans and study assist loans, so why can’t something similar be offered to first home buyers? The role and responsibility of any Government is to serve society and create opportunities for the people it represents. Unlike education, home ownership is not a democratic right, but it is certainly something that a government should help encourage and financially facilitate.</div>
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<div>2.       LIMIT NEGATIVE GEARING. Negative gearing looks as if it is going to be front and centre of the political debate for the upcoming Federal election. Contrary to some reports, negative gearing is not necessarily the domain of the wealthy, but it is certainly not something that the working class always benefit from. I don’t subscribe to the theory that negative gearing is responsible for driving property prices up, but it is definitely a contributing factor, and unlike a lot of my peers, I believe that some form of prudent intervention is now needed. I have to question why the Government ruled out changes to negative gearing in the recently announced Federal Budget, because something needs to give. Regardless of their recent manifesto, I still believe it’s a case of when, not if. The two main political parties seem to be diametrically opposed on this matter, but personally I believe that the solution lies somewhere between the two standpoints. Rather than abolish negative gearing altogether, it could perhaps be less generous or capped to a certain number of properties, for example. This would only apply to new transactions with any existing investments being grandfathered. </div>
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<div>3.       ABOLISH STAMP DUTY ON FIRST TIME PURCHASES. Historically, the Government has tried to entice younger generations into buying property by offering grants, but this is fundamentally flawed in my opinion and has never really worked. Instead, first home buyers should be made exempt from having to pay the exorbitant cost of stamp duty.</div>
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<div>4.       ALLOW FIRST HOME BUYERS TO PURCHASE USING THEIR SUPERANNUATION. In theory, this isn’t a bad idea, but most first home buyers probably don’t have enough money in their super to pay the deposit for a property, especially if they are hoping to buy in Sydney. Rather than simply being able to take the money from their superannuation fund, it should be structured as an interest-free loan, with repayments being made over a long-term period with the full amount needing to be settled before the maturation of the fund.</div>
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<div>5.       SIGNIFICANT INVESTMENT IN REGIONAL TOWNS. One of the key contributing factors of the affordability crisis is the migration of the masses to metropolitan areas; meaning that we all want to live in the same areas and are often left fighting over the same scraps. Many rural locations are deemed by some city dwellers as antiquated outposts. What if there was considerable investment in these areas that would breathe life back into them and make them more attractive to buyers? Over the past few years, the NSW State Government has spent billions of dollars on macro projects within the confines of Sydney, such as large-scale urban regeneration and new or upgraded transport infrastructure. –Imagine what would happen if they spent similar sums on areas such as Maitland, Wollongong and Bathurst. Would they become viable alternatives for people looking to buy a home? The introduction of high-speed rail connections to these areas would certainly enhance their desirability. Another enticement could be to offer incentives to outer-city locations on an exclusive basis</div>
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<div>6.       SHARED OWNERSHIP. The UK’s version of this flexible scheme helps subsidise the purchase price and allows the homeowner to buy bigger shares as and when they can afford to. I think a similar model would work here in Australia. We have to be mindful from a socioeconomic view that property doesn’t just become the reserve of the rich.</div>
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<div>DOUGLAS DRISCOLL is chief executive officer of real estate agency <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>.</div>
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