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.

Joel Robinson

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

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

Foreign Buyers

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Q: Is there a housing bubble?
A: Nationally no, but if we are talking about Sydney, Melbourne and new inner Brisbane apartments, then yes.  That's a YES, in case you somehow missed it.
Sydney and Melbourne have been distorted by an influx of 'grey' money coming from China. Many don't like to hear this, but it is happening. No hard statistics, but our groundtruthing is looking worthy of a hefty bet.  And of late, some of this grey has shifted north, along with local superannuation funds looking for cheap property &amp; a longish timeframe to settle, in the hope of double digit price growth.
Brisbane always follows Sydney, right?  Property is so cheap in Brisbane, hey! You can buy two in Brisbane for the price of just one in Sydney. Bris Vegas here we come.
Sidebar
I have an internal debate several times each month – it's fun, like talking to an imaginary friend – about whether or not to write on a certain topic. 
Do I let blast about China? Publish my thoughts about smaller apartments?  Call out all those BS artists promising double digit price growth &amp; rental increases?  And this week, it's a yes.  Write something about the Reserve Bank (RBA), Foreign Investment Review Board (FIRB) and how we will all be rooned.
We'll all be rooned
Now, there is nothing wrong with a global property market, nor being in the recovery phase of the property cycle and having closer ties to China – or any of our major trading partners for that matter.
But a housing bubble is a different story.
Property values have almost trebled over the past two decades, while wages have not kept pace. House prices in both Sydney, Melbourne, some parts of Perth and now across inner Brisbane, are often over 10 times household earnings. In many cases, weekly rents also far exceed 30% of a renter's income.
And things can start getting out of hand when the proportion of investors buying accounts for around half of all residential sales – double the 25% of the housing market made up by private renters. This happens every cycle, but its current trajectory is unsustainable.
Got some doubts?
Well this year alone, housing credit and house prices have climbed at, respectively, more than two and three times the rate of household income growth. It isn't the actual rate of credit and price growth that is the problem, but their relationship with our ability to afford this inflation.
It's true that this is mostly a Sydney and Melbourne phenomenon, but we only have a few blunt tools in the back of our ute to temper the times. And besides, we have never been that good at small, fiddly renovations. Slash and burn is more our style.
The good and the bad
Yes, there are reasons for property demand to be improving – we have record low interest rates, relatively low vacancy rates, high population growth and a strong penchant for owning property.
But on the flip side, we have falling commodity prices, an employment baton change which, for the life of me, I cannot see happening smoothly nor correspondingly, little wage growth, ageing demographics, high debt, an increasingly economically wobbly China and a close to epileptic Europe. Not to mention what may or may not happen with the rest of the world.
For those who only hear good news, you might have missed that Australia's federal budget deficit last year (2013/14) was close to $50 billion &amp; yet the Palmer United Party wants to keep the red ink flowing until the early 2020s. 
If that happens, then our prized AAA sovereign credit rating could be at risk, especially if something goes wrong with our economy – or that of a major trading partner.
In short, we might see the vulnerable economic conditions of southern Europe down under.
This article continues on the next page. Please click below to continue.
<hr class="system-pagebreak">
True blue
But in true ocker fashion – it's all "she'll be right mate", "nothing to see here". Those questioning our "property at all costs" mentality need to take a double dose &amp; retire to bed early. Keep on moving on. Bid higher at that auction. Buy something tiny and off-plan. Doesn't property double in value every seven years? You cannot lose.
Too far-fetched?
Well, our real wages are falling. Yes, falling, as average earnings rose just 2.3% over the last 12 months – that's 0.3% lower than inflation. Unemployment is over 6%, without counting the 700,000-plus on disability pensions.
True, the RBA does predict higher economic growth next year, real wage growth in some distant future and lower employment one day, maybe, but this is predicated on the assumption that nothing economic will go bang or that China's economy won't slow down further.
Excuse me for being a skeptic, but trying to predict an economic future, these days, is almost impossible.  I would just love to read or hear one of those talking eco heads say something like, "well, frankly we don't have a bloody clue".
If you ask me what's going to happen, your guess is as good as mine.
But I do like to guess, so here goes.
<ul>
<li>Government will not reign in spending; we (the senate) won't allow it.</li>
<li>No workplace reforms, for fear of a union campaign.</li>
<li>The RBA will continue jawboning and keep interest rates where they are (when looking at the whole of the Australian economy – not just housing in Sydney and Melbourne – they really need to fall).</li>
<li>Plenty of talks about macro-prudential action – like higher investment loan to value ratios; changes to property taxation or minimum product sizes – but nothing done. Maybe that is a good thing?</li>
<li>No enforcement by FIRB regarding illegal overseas buying – and it has almost all been illegal in recent years.</li>
</ul>
And it's the last point that is the most pertinent right now.  If you want to slow down the Sydney, Melbourne and inner Brisbane property markets without stopping the rest of the country, then you must enforce offshore buying laws.
Inert FIRB
An inert FIRB has done nothing to inhibit the grey economy that exists to get money out of China (ironically, helping them deflate their own housing bubble) &amp; into safer overseas havens like Australia.
It's true that the Chinese government imposes a $US50,000 a year limit that can be sent out of the country, but cashed-up Chinese bypass this system via personal relationships rather than transparent bank transfers. Heaps of property – just how much is unknown (but it shouldn't be) – is being bought this way in Sydney &amp; Melbourne, Perth, and now in Brisbane and starting to again on the Gold Coast.
Also, the Significant Investor Visa (SIV) is dominated by mainland Chinese who meet the $5 million requirement. They are paying stupid prices for potential development sites (with site values doubling in the past five years), but property economics do not apply here, as the SIV is really a fast-tracked qualification for a permanent visa. Dual nationality is the want, but sadly, too many Chinese just want an Aussie passport as an insurance policy, not a new way of life.
Lower down the chain – much lower, if you ask me – is another sheltered workshop – property spruikers flogging Chinese investors little high-rise boxes in Sydney, Melbourne and now Brisbane. Entire high-rise buildings are financed, built and sold for the Chinese market, with local buyers and developers rendered irrelevant. Small, one-bedroom dogboxes are the norm. The more the merrier. How divine, indeed!
And all of this should be illegal. If only FIRB would enforce the law!
All of this illicit activity is creating a demand that would not otherwise exist. Well at nowhere near the levels that it is increasing spruiked. Quarterly newspaper lift-outs about Australia's sudden urge to live on top of each other – I mean, come on.
And this, coupled with local superannuation investors – many of whom appear to have been sold a pup – has created valuations that are dangerously detached from average weekly earnings &amp; sustainable owner-resident demand.
But then again, it is Australia mate; stop all this fussing; she'll be right; tyranny of distance and all that stuff.
But seriously folks
But seriously, something has to be done.  We are now entering some serious hot water.
Here's another guess.  Nothing will happen until this gets political; economic sense doesn't seem to cut the mustard around here anymore.  The political wedge, for mine, come next federal election, is overseas buying.
But between now then, I will take Terry's advice – take a couple of aspirin &amp; have a good lie down. 
Michael Matusik is the founder of Matusik Property Insights, which has helped over 550 new residential projects come to fruition.  Read Michael's <a href="https://matusik.com.au/missive/" target="_blank">Blog</a> or follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank">Facebook</a> and <a href="https://twitter.com/michaelmatusik" target="_blank">Twitter</a> or connect via <a href="https://www.linkedin.com/in/michaelmatusik" target="_blank">LinkedIn</a>.
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michaelmatusik-49YzLvdmNv

Is there a housing bubble? Or should we all take a wee lie down?

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The crusading Melbourne buyer’s agent David Morrell has been told his suspicions regarding the $2.75 million sale of a Malvern East home were misplaced.
Following the 20 September auction, Morrell lodged a complaint with the Foreign Investment Review Board (FIRB) asking it to investigate what he believed had been a breach of FIRB rules.
But John Bongiorno, director of Marshall White, has advised the buyer was an Australian citizen.
He said Morrell was being divisive.
“Just because someone does not look Anglo-Saxon does not mean they are not Australian,” Bongiorno told the Australian Financial Review.
Morrell told the FIRB he believed the buyer of <a href="https://www.realestateview.com.au/Real-Estate/23-coppin-street-malvern-east/Property-Details-buy-residential-7568850" target="_blank">23 Coppin Street </a>(pictured above) was a Chinese national or someone representing a Chinese national who could not understand the auctioneer.
“If they were not allowed to bid, the property would not have sold at this level. Therefore this sale clearly distorts the market,” Morrell wrote.
The four-bedroom 1980s home sold for $2.75 million at $350,000 above its reserve when three families, two represented by buyer's agents, bid on the house. 
The bidding began at $2.3 million when sold through agents Anthony Reis and Madeline Kennedy of Marshall White.
Last week the Liberal MP Kelly O’Dwyer, who chairs of the parliamentary inquiry into the impact of foreign investment on Australian residential real estate, signalled that she proposes hefty fines for estate agents, lawyers and accountants who organise illegal purchases under FIRB rules.
Morrell had previously lodged a submission to the inquiry stating real estate agents and property lawyers were willingly helping foreign investors to illegally buy prestige homes in Melbourne and Sydney while the FIRB took no action.
He claimed estate agents, whom the FIRB relied on to report illegal foreign buyers, were looking the other way in return for higher commissions, citing a recent Toorak auction, where the reserve was exceeded by 30%.
"There were three Chinese nationals competing, neither spoke English or understood the process and literally just kept their hands in the air,” he suggested. 
Morrell has previously warned Chinese nationals were "picking the eye teeth" out of the property market.
“The FIRB is there to prohibit non-residents paying serious money for housing but they are not doing it effectively and only react to complaints – their complaint is they do not know until a settlement who the real buyer is, even if it is a 19 year-old student who spends $3 million on a block of land."
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jchancellor-FAypfDUnLy

Malvern East buyer dobbed in to FIRB was Australian citizen: Marshall White

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The Country Women's Association Potts Point headquarters is being bullishly sold to Chinese developer interests for about $18.5 million.
There were five offers at or above $15 million <a href="https://www.raywhite.com/nsw/elizabeth-bay/1179875/" target="_blank">through Ray White</a> and CBRE Hotels when expressions of interest closed September 3.
It followed the <a href="/news/country-womens-association-of-nsw-to-sell-potts-point-headquarters">recent decision by the Country Women's Association of NSW</a> (CWA) annual state conference to sell its long-time 51 room property.
The sale successfully captured the current huge Chinese buying interest, rather than the association delaying going to market with formal redevelopment approvals which would have been the normal prudent process.
The 11-13 Greenknowe Avenue building houses the head office and auditorium as well as providing $50 a night accommodation.
It was secured in the early 1950s, and opened in 1954 by Lady Slim.
Around 20 developers sought the 1,347 square metre site with the CWA now set to purchase modern office space.
The CWA was formed in 1922 when country women were fighting isolation and a lack of health facilities. 
It has been incorporated by an Act of NSW Parliament since 1931.
It was listed through Ray White agents Ian Campbell and Craig Pontey, in conjunction with CBRE Hotels.
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CWA's Potts Point headquarters sells to Chinese developer

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The former Country Women's Association Potts Point headquarters that sold to a Chinese developer for $18.5 million in 2014 has reportedly been onsold for a bullish $34 million.
The asking price was $30 million plus.
There is no sold sticker posted by its out of area agents, but the local paper has reported its sale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/5/CWA.jpg" alt="">
The Wentworth Courer says it has been sold as a women's refuge.
<div class="XGJcx _1DCKj _2yu-G">
The SHMH Group used as its offices while it has run into planning height redevelopment issues.
A concept study undertaken by PTW Architects for an eight-storey apartment building scheme with 38 luxury units over two levels of basement parking.
The 1347sq m site is at 11-13 Greenknowe Avenue.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/5/SHMH.jpg" alt="">
</div>
There were five offers at or above $15 million when it last sold in 2014.
Its sale followed the <a href="/news/country-womens-association-of-nsw-to-sell-potts-point-headquarters">decision by the Country Women's Association of NSW</a> (CWA) to sell its long-time 51 room property.
The Greenknowe Avenue building housed their head office and auditorium as well as providing $50 a night accommodation.
It was secured in the early 1950s, and opened in 1954 by Lady Slim on its 1,347 square metre site.
The CWA was formed in 1922 when country women were fighting isolation and a lack of health facilities. 
 
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Former CWA Potts Point headquarters offloaded by do-nothing Chinese developer

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The former Country Women's Association Potts Point headquarters that sold to a Chinese developer for $18.5 million in 2014 has returned to the market.
The asking price is around $30 million, Nine Entertainment reported, but $30 million plus in a subsequent press release.
<div class="XGJcx _1DCKj _2yu-G">
The SHMH Group did secure a deferred commencement consent for the site at 11-13 Greenknowe Avenue in 2017, but has in the meantime considered several options including a boarding house.
The premises have been used as its offices while it has run into planning height issues having initially considered a concept study undertaken by PTW Architects for an eight-storey apartment building scheme with 38 luxury units over two levels of basement parking.
The 1347sq m site is approved for up to 22 metres.
</div>
There were five offers at or above $15 million when it last sold in 2014.
Its sale followed the <a href="/news/country-womens-association-of-nsw-to-sell-potts-point-headquarters">decision by the Country Women's Association of NSW</a> (CWA to sell its long-time 51 room property.
The 11-13 Greenknowe Avenue building housed their head office and auditorium as well as providing $50 a night accommodation.
It was secured in the early 1950s, and opened in 1954 by Lady Slim on its 1,347 square metre site.
The CWA was formed in 1922 when country women were fighting isolation and a lack of health facilities. 
 
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Former CWA Potts Point headquarters being offloaded by do-nothing Chinese developer

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Foreign ownership rules do not need strengthening but rather existing laws need to be properly enforced, according to the Real Estate Institute of Australia.
The organisation notes that an $85,000 fine already exists for breaching current regulations.
In the latest release of REIA News, Issue 38, chief executive officer Amanda Lynch notes that the fine has not been invoked, as the Foreign Investment Review Board has “apparently not prosecuted a single foreign buyer for breaching foreign ownership rules”.
Lynch points to e-Conveyancing as a method which would assist in more stringent enforcement of existing regulations.
This suggestion was recently put to the House of Representatives Standing Committee on Economics for the Inquiry into Foreign investment in Australian real estate by First National’s Ray Ellis, who is also an REIA board member.
Looking at the 2012-2013 Foreign Investment Review Board Annual Report, Lynch notes that 11.4% of foreign investment in real estate by value comes from China, while 9.5% comes from the USA and 9.5% comes from Canada.
“This is a particularly interest fact to note as media articles on foreign investment are frequently dominated by stories highlighting only one particular source country, China,” she says.
<a href="/news/letter-from-the-editor-talking-about-foreign-buyers">Property Observer has been vocal about the importance of discussing foreign investment without a xenophobic overtone</a>, as well as the difficulties facing journalists reporting on the topic.
Lynch says that the REIA supports foreign investment due to its assistance with increasing supply.
The report shows that 2012-13 was the first year since 2009-2010 that the purchase number of sub-total of 5,101 ‘developed’ stock, or existing homes, exceeded the sub-total of 4,549 ‘new dwellings’.
The report paints an interesting picture of the growth of the developed stock sector.
It states that the purchase of developed stock is “primarily [by] temporary residents in Australia acquiring one existing residential property for use as their residence in Australia”. A footnote suggests it includes a small number of approvals relating to foreign companies acquiring residential property for company employees to reside in.
The sudden increases between the 2009-10 and 2010-11 reporting periods can be explained by a shift in government regulations during that period.
On 24 April 2010 temporary residents were no longer exempt from notifying the government of proposed acquisitions of established residential real estate for their own residence, nor new property or vacant land. This exemption was brought in for just one year, from 1 April 2009, where it was noted that temporary residents, in previous years, was said to have accounted for around two-thirds of real estate applications.
{plotalot id="23"}
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jduke-EHk3XBmHkn

We don't need stronger foreign buyer regulation, we need more stringent enforcement: REIA

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Although we often hear about the involvement of foreign investors in our residential markets, they also play a substantial role in our commercial property sector.
Here are five commercial property investments from offshore buyers that have made a big impact on our local markets.
<ol>
<li>
Leighton Headquarters, 177-199 Pacific Highway, North Sydney Price: $413.19 million Buyer: Suntec REIT The Singapore based Suntec Real Estate Investment Trust (REIT) purchased the 30 storey, 40,000 square metre Leighton Headquarters tower late last year. However, Leighton Properties retains the lease on 76% of the office space. Suntec REIT was listed on the Singaporean stock exchange in 2004. 
</li>
<li>
ATO Tower, 747 Collins Street, Melbourne Price: $279 million Buyer: CIMB TrustCapital Advisors Singapore CIMB TrustCapital Advisors Singapore spent $279 million on the ATO Tower in Lang Walker's Collins Square Project in Docklands. The ATO Tower is the central feature of the Collins Square precinct, valued at $1.5 billion. CIMB TrustCapital Advisors Singapore is a joint venture between CIMB, a Malaysian investment bank, and Trustcapital Advisors Singapore. The venture's initial fund, Australian Office Fund No. 1 (AOF1), centres around commercial office investments in Sydney and Melbourne, with Canberra and Brisbane as secondary markets. 
</li>
<li>
179 Turbot Street, Brisbane Price: $172 million Buyer: Kumpulan Wang Persaraan Kumpulan Wang Persaraan, Malaysia's second largest pension fund, purchased the Brisbane office tower at 179 Turbot Street late last year. The fund is also an investor in the CIMB TrustCapital Advisors Singapore managed AOF1, the vehicle used to purchase Melbourne's ATO Tower. 
</li>
<li>
Ausgrid building, 570 George Street, Sydney Price: $151.8 million Buyer: Far East Organisation The Ng family's Far East Organisation, Singapore's largest private property developer, bought the Ausgrid building earlier this year. The developer has spent more than <a href="/news/the-ngs-singapores-richest-family-spend-425-million-on-sydney-trophy-property">$700 million on Australian property</a>. Last year, <a href="/news/singaporean-billionaire-philip-ng-buys-yamba-scotland-islands-finest-heritage-home">Philip Ng purchased Yamba</a> in Pittwater for $7 million. The Ngs are Singapore's richest family.  
</li>
<li>
277 Elizabeth Street, Sydney Price: $143 million Buyer: Far East Organisation After purchasing the 277 Elizabeth Street office complex, Far East Organisation is reportedly planning a luxury apartment redevelopment on the site. Other Australian acquisitions include Bob Ell's Clocktower Square in Sydney's Rocks district, and two Park Street buildings for $127 million. The Ng brothers, who inherited the development company from their father, are valued at $10 billion, according to Forbes.</li>
</ol>
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jrichardson-uRX5hFdKfN

Five of the biggest commercial property transactions to offshore buyers

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GUEST OBSERVATION
There are four relatively uncontroversial things I believe to be true about Chinese buyers.
But you'll be surprised by the fifth.
<ol>
<li>I have no doubt that Chinese buyers are a much bigger presence in the market today than just a few years ago.</li>
<li>I know for a fact that Chinese buyers have spurred much new construction in Australia - thus adding to the stock of homes on the market and creating jobs and tax revenue.</li>
<li>I trust the data from various sources that reveals Chinese buyers to this year be the largest foreign buyer group in Australia.</li>
<li>
I know that Australia can expect Chinese investment to increase in the coming five to 10 years. As China relaxes its capital controls, the flow of money to Australia and other countries, according to the Bank of England, could triple. Now for the surprising fact. Anyone who pays attention to the real experts, such as Glenn Stevens of the Reserve Bank of Australia, already knows this last truth. Drum roll, please. 
</li>
<li>The fifth thing I know: Chinese buyers are not distorting the Australian real estate market.</li>
</ol>
With all the media hyperventilation suggesting the contrary, how could I possibly know this?
It's because Chinese are foreign investors, and total foreign investment is down significantly. The total of Chinese investment into Australian real estate is nowhere near large enough to make up for last year's decrease by other nationalities.
That's right. The total amount that all non-Chinese foreign investors transferred into the bank accounts of Australian property vendors last year actually decreased.
It didn't decrease by a little. It decreased by $8.2 billion.
Those British, American and other foreign investors haven't disappeared altogether. Even so, there aren't nearly as many of them as there were just 12 months before.
Yes, Australia, as a fellow countryman, I know it can be hard to accept, but last year foreign buyers did a runner.
From $54 billion in 2012, non-Chinese foreign investment plummeted down to $46 billion.
The Chinese valiantly tried to make up the difference, but they fell several billion short. As someone once said, "A billion here, a billion there and pretty soon you're talking about real money."
Perhaps that's why the governor of the Reserve Bank of Australia has gone on the record with his belief that the Chinese aren't having any real impact on prices.
That doesn't mean Chinese buyers aren't important. Quite the contrary: they are more important than ever. But the Chinese, as a subgroup of all foreign buyers, are far from distorting the market.
For foreign buyers to push prices up in Australia, presumably their total demand would have to go up. And –even when you include Chinese buyers– total demand from foreign investors plummeted last year.
Whatever price rises we're seeing, then, have to be due to other factors. The prime contenders seem to be wage growth, investor demand and low interest rates, but that's the subject of another story.
Andrew Taylor is the founder and CEO of sales and marketing of <a href="https://www.juwai.com/" target="_blank">Juwai.com</a>, the number-one Chinese real estate portal for property in Australia and around the world. Find out more about him at <a href="https://list.juwai.com/" target="_blank">list.juwai.com.</a>
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ataylor-LB7AWVFTs9

The surprising truth about Chinese buyers: Five must-know facts

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Our <a href="https://petewargent.blogspot.co.uk/2014/08/population-growth-will-be-very" target="_blank">2014 population forecasts</a> showed that we expect to see something quite different in 2014, that being total population growth in Australia easing back quite significantly this year to closer to 300,000 than the near 400,000 we have seen previously. 
Further, we expect other demographic shifts, including centralisation of our capital cities (recently affirmed by the <a href="https://new%20south%20wales%20-%2050%2c000%20victoria%20-%2037%2c500%20queensland%20-%2035%2c000%20western%20australia%20-%2020%2c000%20south%20australia%20-%207%2c500%20other%20-%2010%2c000%20total%20-%20160%2c000/" target="_blank">Reserve Bank and another Grattan Institute report</a>) as well as a growing contingent of Asian settlers.
The overseas arrivals and departures data is a significant feeder into the population growth data, and recent figures further confirmed our expectations. 
Short-term arrivals and departures
Over the past half decade we have have had more short-term departures from Australia than short-term arrivals, a trend which continues:
<img src="https://1.bp.blogspot.com/-hA2Tcs1tcm4/VAgTxF99yuI/AAAAAAAAPgk/6SEpEVKdxF0/s1600/Arrivals1a.jpg"> 
The short-term arrivals data is interesting to the extent that it potentially gives us a sneak peak of the decade ahead. 
In this context, the massive boom in visitors from China is important.
On a rolling annual basis the number of Chinese short-term arrivals simply keeps on increasing breaking a new record high of more than 780,000 in the year to July 2014.
<img src="https://4.bp.blogspot.com/-_bmDWYGM4oI/VAgTwdfZrCI/AAAAAAAAPgc/vlQwHAmyv04/s1600/Arrivals1.jpg"> 
Long term arrivals and departures 
More interestingly, what is happening to long-term arrivals? 
Well, July was a very strong month with more than 70,000 long-term arrivals, but the rolling annual trend is down in line with our forecasts (recall that we are expecting considerably weaker population growth in 2014 - we expect massive population growth into Sydney and New South Wales, but figures easing back elsewhere).
<img src="https://1.bp.blogspot.com/-3MyN5HGsm4M/VAgTyfDNotI/AAAAAAAAPgs/D1ukn05iiFU/s1600/Arrivals2.jpg">
When viewed on a net basis set off against long term departures, a similar trend on a rolling annual basis with rolling annual net long term migration also easing back despite a strong month of long-term arrivals in July.
<img src="https://2.bp.blogspot.com/-rwqQXucpdkU/VAgT4-QUwuI/AAAAAAAAPg0/xDRLs55I57M/s1600/Arrivals3.jpg"> 
Settlers
As for where the settlers are coming from? 
In July we saw something of a landmark; for the first time we have more Indian settlers than Kiwis on a rolling annual basis. 
Poms are also following the UK economic recovery and fewer are arriving in Australia now as the British employment rate booms. 
Chinese and Indian immigration into Australia, on the other hand, is looking very strong.
<img src="https://4.bp.blogspot.com/-iJMwkRbP_Zg/VAgT_HP6GkI/AAAAAAAAPhE/vZON-IygFS8/s1600/arrivals4.jpg">
Finally, a chart which helps to explain the rising prominence of so-termed "Asian buyers" of Australian property.
Simply, since 2000 there has been a tremendous boom in the number of Asian immigrants, so it can hardly be a surprise to see more folk of an Asian appearance at property viewings and auctions - most of the so-called "Asian buyers" are actually Australian buyers of Asian heritage, a point which appears to be lost on the popular media. 
 <img src="https://1.bp.blogspot.com/-EqxVMeNbY7Q/VAgT8gTqM5I/AAAAAAAAPg8/MYxHKSjr_vg/s1600/Arrivals5.jpg">
Summary
Overall the data is consistent with expectations.  
We still see population growth easing back to nearer 300,000 than 400,000 in 2014, with Sydney to be a major beneficiary of the population growth this year. 
The mining states of Queensland and Western Australia have dimming prospects for population growth in 2014 as mining capex and interstate migration drops off, while South Australia's population growth will likely just be just weak, full stop.
Victoria's population growth will be softer in 2014 than in the prior year, but still should remain very strong in absolute terms. As a quick primer, here are our 2014 best estimates:
Natural population increase 2014 (f)
<ul>
<li>New South Wales - 50,000</li>
<li>Victoria - 37,500</li>
<li>Queensland - 35,000</li>
<li>Western Australia - 20,000</li>
<li>South Australia - 7,500</li>
<li>Other - 10,000</li>
<li>Total - 160,000</li>
</ul>
Total population growth 2014 (f) 
<ul>
<li>New South Wales - 105,000</li>
<li>Victoria - 87,500</li>
<li>Queensland - 60,000</li>
<li>Western Australia - 40,000</li>
<li>South Australia - 10,000</li>
<li>Other - 7,500</li>
<li>Total - 310,000</li>
</ul>
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His latest book is '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' .
 
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pwargent-M4siyDbqQY

The rise and rise of Asian property buyers

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There have been two thought provoking commentaries from prestige Melbourne buyers' agents this week on the issue of prestige home sale to buyers of Chinese descent.
There was some silly coverage on the front page AFR on Monday. Quite inflammatory and mostly unhelpful as the AFR didn't address the easy way of solving the concern, that is 100 point required residential identification details within all contracts. 
<img src="/images/2014/09/04/afr-sept-4-one.png" alt="">
The more insightful perspective commentary has been <a href="/expert-insights/fear-of-chinese-buyers-is-now-a-part-of-agents-scripts">published today on Property Observer</a> from Mal James.
Under the online AFR headline, Foreigners illegally buy trophy homes in Sydney and Melbourne, or the printed version, Agents cash in on "illegal" foreign buyers, the high profile buyers’ agent David Morrell claimed foreign investment in Melbourne residential real estate was "rampant", particularly from mainland China with "real large scale flaunting of the current laws".
He said the lack of "cheques (sic) or balances was undermining and damaging the existing residential real estate market".
 Particularly in the $10 million top end and in the $1.5 million to $3.5 million inner city Melbourne marketplace, said David Morrell.
But unfortunately he was very vague in actually assisting the parliamentary committee investigating foreign ownership with any documented examples.
He suggested there had been "many" transactions in the top end marketplace, in particular where a property has been on the market for 12 months and suddenly the Chinese national has purchased the property for a 20% premium to the relevant marketplace and local buyers.
"This of course causes a domino effect in the market where other vendors believe there properties are worth more and our prices local buyers."
His submission went onto say: "Clearly while there’s a law there’s no requirement in any contract that requires proof of residency to the person signing a document, we have seen on many occasions some distant relation actually sign a document that clearly has neither the ability or knowledge of what they’re actually doing. 
"To give you some scale of the problem at a recent Toorak auction where the reserve was exceed by 30%, there were three Chinese nationals competing, neither spoke English or understood the process and literally just kept their hands in the air. 
"This outrageousness is not only contained to an isolated incident," though his submission stopped at just this one unidentified example.
Meanwhile buyers agent Mal James wrote it was not just actual bidding that was "creating the near frenzied bidding response that we are seeing out there right now".
"Even when no Chinese Nationals are bidding, it’s the fear of Chinese nationals bidding that is also pushing prices up," he blogged.
"Ask any agent on an inner east home coming to auction and they will tell you we have some 'Chinese interest' –<a href="/expert-insights/fear-of-chinese-buyers-is-now-a-part-of-agents-scripts"> it is something firmly implanted in many agents’ “buyer scripts”</a>.
"In other words, buyers not only bid as they do against Chinese national bidders but also on the fear that Chinese nationals may bid."
James went onto note that in his last 10 purchases he had been directly involved in (Kew, Camberwell, East Melbourne, Elwood, Camberwell, Glen Iris, Camberwell, Kew, Camberwell and Kew) that Chinese Nationals were the direct underbidder on five. They were used in the selling agents negotiating scripts twice. There was no Chinese bidding or no mention of Chinese bidders by agents on the other three.
James concluded by noting that Chinese nationals are also affected by the bidding or fear the bidding of other Chinese nationals.
The committee chair Kelly O'Dwyer represents Higgins, located in Melbourne's south-eastern suburbs. 
It covers an area of approximately 40 sq km from Hughesdale in the south-east, South Yarra and Toorak in the north-west, Windsor in the south-west and Ashburton and Glen Iris in the east. The main suburbs include Armadale, Ashburton, Kooyong, Malvern, Malvern East, Prahran and Toorak along with parts of Carnegie, Glen Iris, Hughesdale, Murrumbeena, South Yarra and Windsor.
Getting up the 100 point identification initiative will require O'Dwyer to convince all the states and territories to adopt a uniform contract requirement which could coincide with the roll out of e-conveyancing which should allow greater transparency. 
Her committee ought also introduce a foreign buyers'  fee to assist in the compilation of better data on the occurrence, so that the authorities can monitor purchases and exit sales to ensure greater compliance, possibly even if the purchasing is via family members and companies.
Unfortunately until then we are left with mostly anecdotal snippets that don't always greatly assist our understanding amid the confusion between rightful local buyers of Chinese descent and those directly from mainland China who don't have any ownership entitlement.
Kelly O'Dwyer will deliver her findings by October 14.
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