Fresh off completing its Delano Crows Nest development, Lindsay Bennelong has lodged plans for its next project, this time turning its attention to the beach.

The developer, founded by Clarendon Homes founder Peter Campbell, is proposing a 37-apartment scheme at <a href="https://www.apartments.com.au/new-apartments/17-25-ashburner-street-manly-nsw-2095">17-25 Ashburner Street</a>, Manly, positioned between the southern end of <a href="https://www.apartments.com.au/developments/manly-nsw-2095">Manly</a> Beach and East Manly Cove.

According to the Design Verification Statement by Bridie Gough of Platform Architects, the proposal “relates to the current context but also the desired future character of taller buildings suitable to the new planning controls.”

The site has been identified as a Low to Mid-Rise Housing (LMR) location, given its position within 400 metres of the Manly Town Centre E1 Business Zone. The LMR controls are intended to unlock additional housing supply in well-located areas close to public transport, allowing developers to seek increased height limits to support greater density.

“The proposal seeks to provide this increased level of housing whilst being respectful of some of the smaller scale buildings also nearby,” the statement reads.

The development would replace four houses and 10 strata apartments currently on the site.

<img alt="Manly" data-entity-type="file" data-entity-uuid="ad03000f-19f9-48b4-b27d-e85ca800a1da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%208.41.59%E2%80%AFAM.png?VersionId=a.txHwCZgbCInlQ6QXbIrI.umvW1T.r8" />

“Careful consideration has been given to the articulation of the building, ensuring the bulk is broken down to a more human scale through a defined four-storey podium,” the statement notes. “More intricate detailing has been introduced on the left-hand side of the street frontage to respond to the adjoining two-storey building, allowing the proposal to sit comfortably within the streetscape.”

The design incorporates a wave-like indentation running through the façade, referencing the nearby coastline and anchoring the building within its local context.

The scheme includes a mix of one-, two- and three-bedroom apartments, with nine of the 37 residences allocated as affordable housing.

“The design ensures a high level of amenity, with apartments offering generous private open space, many with expansive views, and all with comfortable proportions,” the statement adds.

<img alt="Bennelong" data-entity-type="file" data-entity-uuid="6a7f2812-72a1-4959-84b0-997e8cd88aed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%2010.15.50%E2%80%AFAM.png?VersionId=6iMxU3MkXmHVHAoNhYBjnqgka8CUZNbk" />

<a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong</a>&nbsp;is currently developing Finn Manly, just five full-floor luxury apartments on North Steyne. They recently welcomed residents to its 81-unit Delano Crows Nest development, a&nbsp;carefully scaled infill project designed to bridge&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>’s lively village centre with its surrounding heritage streets.

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>,&nbsp;<a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a>&nbsp;is arranged across three low-rise buildings, incorporating a mix of one, two, and three-bedroom apartments alongside a limited number of townhomes addressing Hayberry Lane. The architectural approach draws on the area’s Art Deco lineage, reinterpreted through contemporary detailing and framed by landscaped communal gardens.

The developer also has a development site in Maroubra.

Joel Robinson

First look: Lindsay Bennelong's new Manly apartment development revealed

Fifty-nine residences across 37 levels. No more than two per floor. With 80 per cent now sold, what remains at <a href="https://www.apartments.com.au/new-apartments/madeline-by-mosaic-broadbeach-22-mary-avenue-broadbeach-qld-4218">Madeline by Mosaic</a> is a short list.

Madeline was always conceived at a scale that sits outside the normal register of Gold Coast apartment living. The residences are half- and full-floor configurations, with the largest spanning more than 400 sqm, dimensions that place them closer to the penthouse end of the market regardless of where they sit in the building.

That scale is the organising principle of everything else: how the floorplans are laid out, how the materials read, how the connection between inside and outside works.

[smartcode_project:default project_id=150135 project_image_fid=355941]

The interiors were developed in collaboration with <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a>, the architecture practice&nbsp;<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic</a> brought in as design partner for the first time on this project. The palette runs to natural stone, textured timbers, and soft metallics, materials chosen as much for their tactile quality as their appearance.

Light cleverly shifts across surfaces through the day, and the design is explicit about wanting that to be noticed. Full-height glazing runs across the primary living areas, and where the building faces east toward the ocean, those walls of glass are doing real work: framing a view corridor that the site's position directly opposite Broadbeach State School's playing fields keeps permanently open.

That outlook is the site's most consequential asset. In a suburb where new towers continue to rise, a protected view line is genuinely rare, and the Mary Avenue address secures it. Residents at Madeline will look out over open parkland rather than the rear of another building, a distinction that becomes more meaningful with each new development approved nearby.

[smartcode_project:default project_id=150135 project_image_fid=355939]

The private outdoor spaces are sized to match the residences themselves. Terraces on the upper levels frame uninterrupted ocean panoramas, and the planning ensures that living areas extend into those outdoor zones rather than treating them as separate attachments. The flow between the two is part of the design intent, not an afterthought.

Inside, the finish specification reflects the same approach. Rich stone benchtops, warm timber joinery, bespoke hardware, each element specified to hold up over time rather than read as a moment in a particular trend cycle.

[smartcode_project:default project_id=150135 project_image_fid=3409]

Beyond the residences, the amenity offering extends that register. A lap pool and sun deck anchor the outdoor space, alongside a magnesium pool, cold plunge, steam room, and sauna.

A commercial-grade gymnasium, residents' lounge, library, and boardroom round out a programme that functions more like a private members club than a standard building amenity floor.

Construction has commenced under Mosaic's in-house building arm, with completion scheduled for late 2028.

[smartcode_project_cta:default project_id=150135]

Madeline by Mosaic delivers penthouse-level living across every apartment

Developer Fortezza Group is the latest to take its new apartment development, <a href="https://www.apartments.com.au/new-apartments/the-belvedere-5-7-church-street-nelson-bay-nsw-2315">The Belvedere in Nelson Bay</a>, to the NSW Government.

Fortezza, predominantly a South East Queensland developer, is the latest to apply for State Significant Development&nbsp; status through the NSW Government's Housing Delivery Authority, a pathway becoming favoured by developers to speed up the approval process.

They are planning 57 two- and three-bedroom apartments across 5-7 Church Street and 42 Donald Street, near d'Albora Nelson Bay Marina. The diverse apartment mix has sizes from just over 80 sqm to the largest three-bedroom penthouses that reach nearly 200 sqm.

<img alt="Fortezza" data-entity-type="file" data-entity-uuid="090360e1-66d7-43ad-b686-aba81f173bf2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%2010.22.40%E2%80%AFAM.png?VersionId=DMqF96eBZolqSAAAcugX0l66ueWng66m" />

Fortezza calls the project a "piece of Istria in Nelson Bay,"&nbsp;referring to the largest peninsula in the Adriatic Sea, shared by Croatia (90%), Slovenia, and Italy, which is known for its Roman history, Venetian-style coastal towns and inland hilltop villages.

They say the The Belvedere is strategically positioned at the apex of Nelson Bay, offering unrivalled views of the ocean, the bay and captivating topography of the area.

"Our commitment to maintaining the integrity of every view and sight line has been relentless," Fortezza Group says.

"Through extensive modelling and analysis, we ensure that each apartment enjoys the natural beauty of Nelson Bay, regardless of future developments. Each design element is carefully curated to harmonise with our European heritage, drawing profound inspiration from the Roman architectural marvels in Istria. The arches, the cascades of greenery and the stonework that define our project pay homage to the structures that once exemplified Roman grandeur."

Residents will have access to a pool, communal green spaces, an office and a coffee shop.

First look: Fortezza Group takes The Belvedere, Nelson Bay apartment development, to NSW Government

SEQ developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a>&nbsp;is the latest to jump into the hot Kangaroo Point market, filing plans for a prime site on Lambert Street.

The 52-unit development, predominantly made up of two-bed apartments, will sit on a 1,012 sqm site at 39 Lambert Street, within the&nbsp;Kangaroo Point Peninsula’s Shafston Precinct.

The 15-storey scheme by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>&nbsp;is anchored by a strong focus on mid-sized apartments, with 48 two-bedroom and four three-bedroom dwellings forming the mix. The project includes three basement levels, as well as ground and mezzanine parking, delivering a total of 66 car spaces.

<img alt="First Look: Keylin targets Brisbane’s mid-market with 15-storey Kangaroo Point proposal" data-entity-type="file" data-entity-uuid="0df78d49-0723-442f-917e-fe29f4eb02c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2_1.png?VersionId=Ud0OP4FZCGFHLvwFWbaeTcYq8Fc2mtdh" />

Planning documents describe the proposal as “a high-density residential outcome that integrates with its context and encourages urban consolidation and the efficient use of land in a well-serviced, inner-city location.”

The building adopts a slender tower form across 15 levels, including a rooftop communal terrace. Its design is shaped by setbacks and orientation that respond directly to neighbouring buildings, achieving up to 20 metres of separation to the adjacent Point Hotel and between 9 and 17 metres to nearby residential developments.

A key design driver is the integration of subtropical and biophilic elements. The architectural concept, described as an “elevated garden sanctuary,” draws from the natural character of the Kangaroo Point cliffs, incorporating landscaped ledges, deep planting zones, and extensive greenery throughout the façade. Curved balconies and layered planting soften the tower’s vertical form, while the lower levels feature heavier landscaping and screening to create a more human-scaled street interface.

<img alt="First Look: Keylin targets Brisbane’s mid-market with 15-storey Kangaroo Point proposal" data-entity-type="file" data-entity-uuid="95bc4974-fcbd-4a9a-9dfb-95b8e1977187" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/4.png?VersionId=o8hwItpcfKBglOaTH8Hv7MmVOphZF_Fg" />

Residents will have access to a rooftop amenity offering spanning approximately 262 sqm, including a pool and spa, gym, lounge areas, and flexible wellness spaces. Landscaping is embedded throughout the building, with over 280 sqm of planted areas integrated across the façade and rooftop.

Kangaroo Point has been popular for developers in recent years. Mosaic Property Group has almost sold out its two Kangaroo Point buildings,&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-bedford-by-mosaic-16-30-prospect-street-kangaroo-point-qld-4169">The Bedford by Mosaic</a> on Prospect Street, and <a href="https://www.apartments.com.au/new-apartments/the-carter-by-mosaic-77-linton-street-kangaroo-point-qld-4169">The Carter Building on Linton Street</a>.

Kenlynn has <a href="https://www.apartments.com.au/new-apartments/130lambert-112-130-lambert-street-kangaroo-point-qld-4169">130Lambert</a>, just up the road from Keylin's proposal, while Pikos has two projects in the area.

Keylin targets Brisbane’s mid-market with 15-storey Kangaroo Point apartment development

"A legacy to last 100 years."

That's the view of Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG), which has just been given the green light to develop its <a href="https://www.apartments.com.au/new-apartments/47-skyring-terrace-newstead-qld-4006">Skyring Terrace, Newstead tower</a> on what is being pitched as "the last true riverfront address at Newstead."

CPG will now begin a VIP release, with buyer enquiries open ahead of priority outreach to registered clients in May.&nbsp;

Access to the as yet unnamed project will be limited, with CPG confirming a staged release strategy targeting a select group of buyers before any broader market launch.&nbsp;

<img alt="DA approved for last true riverfront address in Newstead" data-entity-type="file" data-entity-uuid="f4ab3090-a2b8-46a8-a4f3-4ec16b5b25b9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Enscape_2025-09-18-13-10-37.jpg?VersionId=_9OV7Adc_zdCldf58WkP0iiagz3Ed3yd" />

Construction is scheduled to commence in August 2026, with <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a> expected to be on site in the coming weeks preparing the sales office.&nbsp;

The approved development comprises 227 apartments across a 25-storey tower with more than 75% having northeast river views. There is also an absolute riverfront six-storey boutique building of only 12 residences which will each enjoy more than 21 metres of river frontage.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the project adopts a contemporary interpretation of Brisbane’s classical architecture, with a focus on enduring materials including brick and stone.&nbsp;

<img alt="DA approved for last true riverfront address in Newstead" data-entity-type="file" data-entity-uuid="bfe7254d-25c3-44bb-9a46-ed658d0aab8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Enscape_2025-11-05-00-57-36.jpg?VersionId=O29la.BVNnSLxL0JVzvEETE8NaYIn3XG" />

CPG Chairman and CEO Don O’Rorke says the approval marks a significant milestone for the group’s $1.5 billion plus riverfront development pipeline including Gloriette at Yeerongpilly.&nbsp;

“This will be a new signature building for the Brisbane skyline and riverfront,” O’Rorke said. “We want this building to be considered one of Brisbane’s best in 100 years.”&nbsp;

CPG Head of Residential James MacGinley says the design prioritises longevity and permanence over short-term trends.&nbsp;

“Woods Bagot’s design will stand the test of time,” MacGinley said.&nbsp;

“First and foremost, these are beautiful homes designed to enjoy river views that will never be built out. However, the heart of this design goes beyond the ‘now’ and draws from the past to create an enduring legacy for the future. We expect these homes to become very tightly held and passed from generation to generation.&nbsp;

The project will form part of CPG’s broader riverfront portfolio, with a fully fitted out sales office opening later this year.

&nbsp;

"A legacy to last 100 years" as Consolidated Properties approved for Newstead tower

Investment Strategy

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A fairly simple development strategy for a first time developer wanting to boost their property portfolio is a dual occupancy project; buying land where you can build two dwellings and subdividing. 
 The dwelling/villas may be attached or freestanding, either way you are basically halving the land cost for each and that is where the value lies.
Where Property Bloom develops, there is usually opportunity to create well over $150,000 in equity through a dual occ development, this is created within about twelve months and doesn't take into consideration the capital growth that also may occur during the development period.
The equity position of a project is determined when you take costs of the project away from the end value. However, be aware that you can't access the entire amount of equity created if you are refinancing on completion as the banks will most likely lend you around 80% of the value, leaving some equity in the project.
Timing your development can also boost the equity creation. If you are developing in an area experiencing good capital growth whilst your project is underway then you have timed your development well. Even if the market is flat, you can still manufacture some equity. Equity created is through the development and subdivision process because you are adding value to the land not with one dwelling but with two. By subdividing, you are halving the land cost for each dwelling. 
Here’s an example of a dual occupancy project we recently completed:
Land cost: $270,000
Stamp duty: $2,940
($5,000 NSW New Home Grant* applied so the government contributes $5,000 this off sets the stamp duty cost)
Legal fees: $1,500
Build cost, including plans, council fees &amp; charges, subdivision costs, for duplex; three bedroom, two bathroom villas:  $450,000
Total cost:  $724,440
Actual end valuations:  $920,000 or $460,000 per villa
Equity created:  $195,560 
Gross Yield 6.7% based on renting each villa at $480 per week. 
If you are borrowing at around 4% then the project may be cash flow positive for you. This is when the rent and depreciation benefits combined cover the costs of interest, insurance, council, water rates and management fees.
There are strong depreciation benefits too, expected depreciation $20,000 Year 1 (using the diminishing method)
* <a href="https://www.osr.nsw.gov.au/lib/doc/factsheets/ofs_nhg1.pdf" target="_blank">click here</a> for more.
Want to know how to do it? 
Of course I'd recommend using an experienced project manager to guide you through but you can have a go yourself - it will depend on the resources or skills you have available; time, experience, knowledge, contacts with a bit of patience thrown in. 
The steps involved in a dual occupancy development strategy are:
<ol>
<li>Finance preapproval. It’s important before you start looking at development sites or any property, that you have a preapproval from a lender in place.</li>
<li>Understand the council requirements for dual occupancies in this area. Study the council’s Local Environment Plan (LEP) and Development Control Plan (DCP).  This will let you know the size of land you’ll need for your dual occ and what is permissible.</li>
<li>Conduct due diligence on the area you want to develop in; understand the zoning for dual occupancies. Having correct zoning doesn't always mean you can carry out a dual occ. There may be covenants on the land preventing building more than one dwelling.</li>
<li>Search for land that meets a number of criteria; size – look at the frontage and know what the minimum width is for your dual occ. Look at the depth and size to ensure the land is large enough to meet the DCP including the minimum outdoor private space requirements. Check the aspect, north facing living areas are desirable and will make meeting the BASIX requirements much easier. Make sure there are services to the site; electricity, sewer, gas. Then ensure the land is relatively flat with a slight slope to the street unless there is a drainage easement at the back. </li>
<li>Check the Planning Certificate to see if the land is in a bushfire or flood zone.  You can still develop in these areas but it will add to your build costs. </li>
<li>Have your builder look at the site. This is very important as the builder will look at the land from a different perspective.</li>
<li>Run a feasibility to ensure the project will be viable. Find recent comparable sales references to base your end value estimates on. Talk to agents about the current rental market and what rent could be expected and calculate the projected yield on completion. Most importantly, you need to have a good understanding of the build costs. The build costs will evolve over the design and planning process. Your builder can give you an estimate once a concept plan is available, but as the full Development Application (DA) plans and documentation is available, the builder will then need to run a full tender. Cross check this against your original estimate. If it’s in line, lodge the DA if it’s not, go back to the design and look at areas where you can reduce costs. Once the plans are approved, the builder may update their tender if council asked for any changes. If not, then a final tender will be generated once the engineer’s plans for the Construction Certificate (CC) are available.</li>
<li>When securing the land, request a long settlement period with permission to lodge a DA from the vendor. You can get all the design work and perhaps even have the DA and CC approved before you settle on the land, this will reduce your holding costs.</li>
<li>Once you have the DA &amp; CC approvals, you can then go back to your lender to obtain your unconditional construction loan. As soon as this is in place, construction can commence.</li>
<li>The build phase for a dual occ should be around three to four month, depending on weather. You need to be on site each week to check the builder’s progress and put out any ‘fires’ that may arise as you are under construction. I've heard some stories of build times taking up to twelve months, so make sure you conduct due diligence on your builder before appointing them.</li>
<li>Once the building works are completed, an Occupation Certificate will be issued. You can now have your villas tenanted. Don’t forget to order a depreciation schedule to maximise your tax rebates.</li>
<li>You can now apply for the subdivision certificate and once council issues this, you can register the subdivision (after your lender has signed off on it).  There is no need to register immediately if you are planning to hold and not planning to refinance as you may find costs such as rates may be a little less if the villas are kept on one title.</li>
</ol>
I’ve summarised the process briefly, but it’s actually not that straight forward. You really do need the time to work on this development strategy closely as mistakes can be costly. If you're a first time developer, use an experienced property development project manager. Our clients enjoy the peace of mind that we've found the right location and development site for them and that their project is being managed efficiently, they also benefit from our long term relationship with our builder. All the fine details are reported to them in a written weekly report, so they are learning from the process but still have time for their own career and family. It's an easy option.
 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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jochivers-wq5Bp59R5a

Boost your portfolio using this development strategy: Jo Chivers

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This week I listened in to a coaching call. It was a prominent company who have been selling their coaching/mentoring program for a while and I was curious to see what they offered.
It took me back to when I started my investment journey 15 years ago. I knew very little about property investing and all the different strategies you can use to grow your wealth.
With the help of hindsight, I reflected on just how I got going on my journey. I reduced it down to three important pieces:
1. Become educated, don’t overdo it and understand risk
After completing my intensive one-year training, I found there was always another course on offer. But I was chomping at the bit to put the things I’d already learnt to use.
I started to invest using one strategy well before my course was finished and ended up repeating it five times before moving onto another strategy. I found each time I completed a property transaction, I learnt more and as this experience built so did the quality of my deals. I found that taking action as quickly as I could, got me into the market faster and I could still study as I went.
But I also saw the opposite happen to others who did my course.  I watched as lots of people got sucked into a ‘vortex’ of needing more and more information before doing anything.
I thought that perhaps these people were worried about risk. Then I worked out, it was actually more of a personality thing. When I searched the thesaurus for the work “risk” this is what came up:
-        Danger
-        Possibility
-        Endanger
-        Chance
What jumps out at you when you read that list? 
The words I see are “possibility” and “chance”.
Property development has a ‘reputation’ for being risky.  Before I started learning about it I also thought it was risky. Why? Because someone had told me that. As I didn’t really know much about it, I held onto this belief.
When I leant more, I changed my belief from seeing development as risky to seeing it as exciting.
If you focus on the risks, you can’t see the opportunity. So I focus on the opportunity.
Over the years, we’ve found a way to derisk the property developments we project manage.
2.  Take massive levels of action
Get ready to work. Action speaks louder than words they say. Action is where you are going to really learn. I think some people underestimate just how much action you need to take to move forward.
Action can start with research then move to analysis then through to inspecting properties and making offers and then to negotiating the purchase and can keep moving into adding value to a property. Whatever your situation, there is always an area you can take action in. If you can’t get a loan, find a finance partner. If you don’t have a deposit, find an equity partner, if you don’t have time or experience, find a project manager.
Do anything but make excuses. There will always be a reason not to take action if you let there be one. This is a classic excuse; “It’s not the right time, the market isn’t good”, believe me, there is always opportunity in the market - you just need to tailor your action to the market.
3.  Refine your process
Practise makes perfect!  Every property development we manage is a little different but our system is almost always the same. With over 100 developments behind us, we’ve refined our process to ensure we get the best from a development project for our clients.
Like when I started out, I repeated my first investment strategy (which wasn’t developing) 5 times before I moved on to another one. The reason I moved on was market conditions changed and so I found a better strategy that would work in all conditions. Property developing or adding value allows us to create equity through the development process. By doing this, we are building in a ‘buffer’ of protection.
Property developing is a very detailed process, there are many steps involved. Each step can be refined and so there’s always opportunity to fast track or fine tune a step which will in turn, impact on the entire process.
So there you have my top 3 tips to getting started on your property development journey. Don’t hesitate, get educated, take massive action, repeat and refine your process. Oh and there is one more…have fun!
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a><a href="https://www.propertybloom.com.au/">.</a>
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Three tips to get you started on your property development: Jo Chivers

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It was hard not to miss the unflappable buyers' agents lining the front (and or back) row when The Block Gatwick apartments went to auction last month.
All five of the renovated St Kilda apartments sold in the televised finale were purchased through buyers’ agents this year, just like last time at Elsternwick. 
Buyers’ agents are licensed professionals who specialise in searching, locating, evaluating and negotiating the purchase of property on behalf of buyers.
They do not sell real estate, although many buyers’ agents were previously real estate agents.
They are engaged independently and paid for by the buyer to act on their behalf perhaps because they don't have the time for the required research, calculation, and consideration.
There were times during the auctions when there was an obvious tense showdown between the auctioneer and the buyers' agents.
Both were doing their job, adding to the televised excitement. There was even a brief suggestion of collusive bidding.
Egos were there on display, as auctioneer and buyers’ agents battled to triumph. 
There was the strategic decision by one auctioneer not to accept opening bids which were above reserve because he thought the apartment was worth much more.
The auctioneer then aggressively declined, at certain stages, to take small incremental bids despite having confirmed the apartment was on the market.
All those threatening "final" bid calls didn't have the normal impact because the auctioneer was dealing with hardened professionals, not susceptible emotional buyers.
The virtual absence of genuine buyers from the crowd from Block auctions meant the typical auction anxiety was limited to the contestants on the couch.
The buyers' agents were mostly playing it deadpan.
Buyers’ agents typically represent buyers, although The Block has roped them into helping the contestant understand buyer desire.
When the buyer's advocates joined the series, many speculated that the move was intended to help prevent a repeat of the Richmond season's dismal auction results.
These buyers' agents enjoy huge publicity during the series and then again on auction day.
One of the key aspects of using an independent buyers’ agent ought to be their ability to evaluate a property’s pros and cons objectively.
They’re not supposed to get emotional about the purchase like buyers do.
They can assist buyers retain their privacy.
Buyers’ agents can be a good idea for the simple fact that most people don’t buy a home or investment property on a regular basis.
A buyers’ agent is in the market every day, so their skills are well-honed and well placed to advise clients on how to buy the right property at the right price.
They also can source off-market properties before the public marketing campaigns.
When it comes to fees, there is no industry standard however the general rule of thumb is a around 2% commission plus GST on the purchase price. 
Some buyers’ agents choose to charge a fixed fee. 
It can depend how much of the service buyers seek. 
Word of mouth recommendation is a good way to start the selection. And in the same way vendors would interview a few estate agents before engaging one to sell their home, buyers should interview a few buyers’ agents.
This enables buyers to compare their services, knowledge and fees and find the right one.
This article first appeared in The Daily Telegraph. 
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jchancellor-FAypfDUnLy

What do buyer's agents do for real estate buyers?

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Landlords in New South Wales will be limited to seeking rent renewal increases once a year under proposed state government legislation.
There will be no rental hike price restriction, just a 12 month period before any rent increase can be sought from existing occupants, as part of what Matt Kean, the Better Regulation Minister, heralded as "sweeping reform for tenants' rights".
Less frequent rent increases will certainly help tenants plan for their cost of living pressures.
But there will be some ramifications.
The restrictive new law, which is yet to be passed by parliament, could see some investors sell up and exit the market.
Others maybe be tempted to try the short-term accommodation market.
At a microeconomic level, some landlords will now insist on six month rental agreements, with the possibility of tenant turnover potentially allowing a higher rent.
Ofcourse, it is one thing for the investor landlord to seek rent increases, the other is the economic circumstances to be able to get it, and without losing weeks in an empty property.
On the macroeconomic front, prospective investors who will be calculating revised potential yields, are not going to spend as much to initially buy their investment property.
The cap on the timing of rental increases mimics the policy implemented by the Labor Government in Victoria, whose aim in a much broader reform package was to reposition investors as housing providers with responsibilities.
The historic primary aim of property investors has been wealth creation through finding and holding a property for the long term, without undue interference from government intervention.
With capital growth on investment property currently slowing across Sydney, the Berejiklian government proposal comes at a time when investors are sharply focused on their rental return.
And landlords don't need to be reminded they aren't that flash.
From rentvestors to experienced property investors, it was easy to overlook the significance of rental yields when Sydney property were rising with annualised 15% growth.
Rental markets remain relatively subdued across Sydney, partly due to an increase in rental supply accompanying the surge in apartment construction.
It is also because there has been a reduction in demand as first home buyer numbers have risen.
CoreLogic recently noted Sydney rents were down 0.9% over the past 12 months.
CoreLogic expect rental yields will continue to be sluggish.
The Sydney gross rental yield is tracking at 3.2%. 
It is 3.8% for apartments, and just 3% for houses. 
The national gross rental yield is tracking at 3.73%, lower than the decade average of 4.27%. Nationally it is 4.2% for apartments, and 3.6% for houses.
Slowing price growth, the conversion from interest only loans to principal and interest, and the prospect of interest rate rises could see tolerance from investors wear thin.
And the Sydney rental market vacancy rate is rising, according to the Real Estate Institute of New South Wales.
The vacancy rates across the Sydney metropolitan sits at 2.8%, up from 2% this time last year, with inner Sydney at 2.7%, middle Sydney at 2.9% and outer Sydney at 2.7%. 
Tim Lawless at CoreLogic says the recovery in rental yields is likely to be drawn out.
This article first appeared in The Daily Telegraph. 
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With capital growth evaporating across Australia, now is the time to focus on rental return

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EXPERT OBSERVATION
National property booms are rare in this country. There are always regional differences playing out at any point in history. For investors, this is a good thing.
People often ask me if this is a good time to buy. I tell them it’s the wrong question. The right question is: where is it a good time to buy?
At any point in time, it’s a good time to buy somewhere in this vast and diverse nation.
I’ve spent some time studying a table listing the median house prices for our four largest cities and their annual growth rates since 1970, compiled from data from the ABS and other sources.
Over the almost 50 years covered by this table, there are only two short periods in which all four cities recorded double-digit price growth at the same time.
Most of the time Sydney, Melbourne, Brisbane and Perth have been doing their own thing: each has had strong growth periods during which the other three were not rising strongly.
According to these figures, Sydney had four years of very strong price growth from 1978 to 1981. During that same time frame, Melbourne and Perth had only moderate growth, while Brisbane sparked to life in 1981 and 1982.
Melbourne surged strongly from 1983 to 1986, but during that period price growth was negligible in Sydney, Brisbane and Perth.
Sydney and Melbourne both started strong growth markets in 1997, extending through to 2003. But Brisbane and Perth didn’t rise until 2002.
Perth continued to have very strong from 2004 to 2006, but the other three cities were weak during that phase.
Both Sydney and Melbourne had big growth from 2013 until recently, but neither Brisbane nor Perth joined the party.
The only brief periods in which all four major cities were strong in unison were 1988-1989 and 2002-2003.
Why do we have these regular differences? Because the national factors commonly quoted by economists to explain Sydney’s boom – like cheap and easy finance, and tax benefits for investors – are not the fundamental drivers.
Keep in mind that those two periods where we did have something approaching a national boom – the late nineties and the early noughties – were both periods when interest rates were high and rising.
Low interest rates and easy debt have not created booms in Brisbane, Perth, Adelaide, Darwin or Canberra in recent years.
Other major forces are in play. The strength or otherwise of the local economies are the dominating factor. 
The two cities (Sydney and Melbourne) underpinned by the strongest state economies, helped along by major infrastructure spending and strong population growth, have had property booms.
Cities (like Brisbane and Adelaide) with lukewarm economies have had moderate or stagnant property markets while those (Perth and Darwin) afflicted by very weak state economies have had property prices in reverse.
Hobart has risen recently on the back of big improvements in the Tasmanian economy.
It doesn’t surprise me that Brisbane and Perth have often had different property cycles to Sydney and Melbourne. The underlying economies of Queensland and Western Australia (with their strong reliance on the resources sector) are very different to those in NSW and Victoria.
In terms of what happens next, I think it’s significant that both Brisbane and Perth started property growth cycles in the early part of this century around the time that Sydney and Melbourne’s previous run was ending.
Right now, Sydney and Melbourne are winding down after four to five strong years. And the evidence is mounting that Brisbane and Perth are on the cusp of growth phases, helped by multiple factors including a revival of investment in the resources sector.
I would add Adelaide to the list, with the South Australian economy showing increasing signs of better performance, with more predicted to come.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

It's not just about when to buy, it's about where to buy: Terry Ryder

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EXPERT OBSERVATION
The yield trap refers to how stocks with high dividend yields can often be, erm, a trap, since the high yield is often reflective of weak share price performance or an unsustainable dividend.
It's tempting to gun for the apparent promise of a high dividend, but often misguided.
Yield is a spot figure calculated at any given point in time; but it's not the same thing as income over the life of an investment.
Rental yield &amp; risk
The same holds true for most asset classes, not least real estate.
Recall the 15-20% high-yielding mining town 'investments' of 2012 being spruiked by opportunists (Gladstone, Port Hedland, South Hedland, Moranbah etc). 
The dividend or rental income wasn't sustainable as supply responded, and these markets utterly imploded. 
In a similar vein, let's take a look at apparently everyone's favourite topic du jour, Sydney housing.
Rewind to the day I was allegedly born, and a three-bedroom cottage in Paddo would have set you back about $40,000.
<img src="https://4.bp.blogspot.com/-J2hzZl_ACLs/WuUzyayRQ6I/AAAAAAAAps4/pGnAE3F2grcM1gkxhNkKxNckOxvutToaACLcBGAs/s640/VG%2B1977.jpg" width="640" height="482" data-original-height="661" data-original-width="876">
Higher-yielding investments were always available in the form of two-bedroom apartments, for a purchase price set about 20% lower. 
The higher yield partly reflected that units were often more modern - as well as the cheaper purchase price - but also less scarcity value.
<img src="https://1.bp.blogspot.com/-RDOjGlliDuE/WuUzyOqUuzI/AAAAAAAApsw/DHuVNNd8E2gcios92ISREitC723aY8sHACLcBGAs/s640/VG%2B1977%2BUnits.jpg" width="640" height="320" data-original-height="433" data-original-width="861">
It's no secret that land and house prices have always appreciated fastest in Sydney's inner ring, ahead of apartment prices and blocks on the outer - the Valuer General dutifully reported as such in typed font for years in its famed 'Blue Book' annual compendium. AHURI and the Reserve Bank of Australia periodically note the same thing.
<img src="https://4.bp.blogspot.com/-hZvdb6l7SI8/WuUzyAogqTI/AAAAAAAAps0/BkooOqmvggItSNsBpq34ORuePX3Y197KgCLcBGAs/s640/1981%2BValues.jpg" width="640" height="616" data-original-height="782" data-original-width="810">
Roll forward to today and with a bit of a refurb your three-bedroom cottage in Paddo rents for about $1750/week ($91,000 per annum) while the two-bed unit would be doing pretty well if it generated just 40% of that amount. 
Meanwhile the cottage costs at least double what the apartment does, probably more, so house prices have continued to outperform too.
Immutable laws of supply &amp; demand
Conventional housing market economics suggests that as prices increase supply should respond, but in the case of inner Sydney land this obviously cannot be so, at least until some brainbox decides to build out on to the harbour. 
In fact, the Census figures appeared to show that the number of houses in Sydney's inner ring is actually in decline as they make way for more and more, and more...and more apartments (in some areas more than others, 'tis true).
<img src="https://2.bp.blogspot.com/-OEXHdEjPlXo/WuVA0ScpMJI/AAAAAAAAptY/B_3sZ8Ap7asnJhRMnHoVxQa26wuWoGWMgCLcBGAs/s640/units.jpg" width="640" height="388" data-original-height="817" data-original-width="1342">
Yield is important for serviceability, but it's by no means the same thing as income over the life of an investment. 
Inner city apartments still generate a higher percentage yield in Sydney than houses. Maybe they always will. 
And don't get me wrong, my portfolio has several apartments in inner ring Sydney. But still I know what I'd rather own! 
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Don't get caught in the yield trap: Pete Wargent

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The conversations we had with friends and family over the Easter break will shape the future of this year's residential market.
Pauses in the calendar - and our busy lives - always facilitate a review in our collective thinking.
Sometimes it is quite a marked shift, when we come back keen to buy, but other times the mood turns sombre.
It's the same with the Christmas holidays too.
It is not just these conversations that affect the market.
The calendar dictates, in many suburbs, just when sellers list and buyers buy.
Late spring is always saturated with listings, often so overwhelming the auction clearance rate stumbles into a very weak year close.
Mid-year school holidays and public holidays tend to be times when agents shy away from auctions, reasoning that buyers will be doing other things.
The early Easter break, with school holidays from mid-April, means market momentum won't really emerge until May.
Winter then approaches with many of the mindset that the colder months aren’t a great time to list.
The June long weekend traditionally marks when listings fall.
Many high end estate agents head off overseas for maybe July or August.
But some take a different approach.
"It’s true that there are often fewer people out and about in winter, but the ones who are looking tend to be genuine buyers," Ben Collier at The Agency reckons.
"When this combines with a lower number of listings, it means that the middle of the year can be a great time to sell."
This year kicked off with a slow, but positive start, for early birds after the Christmas break, but the Easter conversations would have noted recent strong listing numbers affecting price growth potential.
While it is good to guage the market mood and timing, it's important not necessarily to always follow the pack.
Indeed property investment is too driven by the herd mentality - and not enough about counter cyclical investing.
The herd mentality is where we are influenced by peers to adopt certain behaviours similar to others. It can be seen in our thinking to the stock market, nationalism and even home décor.
Of course the average home seller does not have the time to follow all the ebbs and flows of their property market.
With a family, full-time job, the footy tips and other priorities, the extent of property market research conducted by even fairly informed sellers or buyers amounts to little.
This leaves markets vulnerable to the herd mentality which as then Reserve Bank governor Glenn Stevens noted in 2015 meant some Sydney house prices were “crazy”.
Thankfully the current market sentiment has shifted away from over exuberance with price growth inevitably weakening. 
The new group mentality may very well save us all from the cliff.
This article first appeared in The Daily Telegraph. 
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Holiday breaks a good chance to reset the property mood of the market

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Investing in commercial property is alluring, especially when you see advertisements on websites or at auctions of properties that yield 6-8 percent or even more.
Especially at a time when yields on residential properties are hovering at 3-4 percent or lower.
But beware of the traps; with a potentially higher reward come greater risks which is usually in the form of higher vacancy rates.
Commercial property can usually be classified into retail, industrial or office. Each has its pros and cons, but no matter what type, some rules apply to all or most.
According to Angus Raine, executive chairman of the Raine &amp; Horne Group, commercial property is a natural investment 'stepping stone' from residential property and a great way to diversify one’s portfolio, create tax benefits and build wealth.
"It's a more sophisticated form of investing," he was cited as saying by the Australian Financial Review. 
"However like any asset class, there are risks.
"So aspiring investors should take the time to do plenty of research, seek advice from experts and understand the pros and cons."
The first step to investing in commercial property is to take stock of the risks.
First, finding a new lessee can take time. It’s no good buying a vacant office space at a bargain when you can’t find a tenant for months.
Once a tenant moves out, it can take months or even more than a year to find a new one. On the other hand, finding a tenant for an apartment you want to rent out is generally a matter of weeks.
If the sole tenant of your property has to close due to financial problems, it could mean tough times for you. 
If you want to avoid those traps, Fred Nucara, director at Melbourne-based agent, Beller Commercial, has some advice. 
Investors would do well to position their property differently in the market, he told Fairfax Media.
"You might offer the first month of every year after they renew rent-free or offer them $5000 to help them set up their business," he suggested.
He also suggested to ramp up the property’s presence on the internet so it appears high on searches. That way, one can get a good number of enquiries.
Putting up ads in publications that will attract suitable tenants, such as cafe premises in Epicure magazine or a medical facility in a medical journal. 
He has a word of advice for first-time commercial property investors who buy into a vacant property. 
"I would not recommend it to first-time investors," he adds.
"We advise our clients to get something that is leased, that has cash flow so you can get a sense of the temperament of the tenant over time and their ability to pay the rent.
"That way an investor can develop confidence and understanding about the sector."
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