Builder-developer ALAND has drawn back the curtain on its first city-focused new apartment development.

The North Sydney development, <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-173-179-walker-street-north-sydney-nsw-2060">The Walden</a>, is the first time the company has ventured this close to the city, having previously completed thousands of apartments predominantly in Sydney's west, and more recently in Gosford.

<a href="https://www.apartments.com.au/developers/aland">ALAND</a> acquired the prime North Sydney site, spanning Walker and Hampden Streets just down the road from the Victoria Cross Metro station, for $240 million in June.

Now they've unveiled the new project, a mix of one-, two-, three- and four-bedroom apartments across a 30-level building designed by Rothelowman.

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The Walden will capitalise on the site’s front-row position on the eastern fringe of the <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> CBD, which offers uninterrupted Sydney Harbour views stretching from the Sydney Harbour Bridge all the way to Sydney Heads.

The main tower will be flanked by a small four-level amenity building known as The Pavilion, offering exclusive resident-only amenities including a dedicated concierge service, a sauna and private wellness studio, a gymnasium and fitness studio, a resort-style rooftop pool and sundeck.

There will also be a&nbsp;residents’ lounge, private dining and a wine cellar, and co-working facilities with an on-site meeting room and boardroom.

&nbsp;

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ALAND Founder Andrew Hrsto said the company knew they could create something "iconic" with The Walden when they saw the site.

&nbsp;

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic – being the last development with a view offering this exceptional.

“We identified the attributes and quality of the site as being perfectly aligned for ALAND – and we feel that this off-market acquisition is a perfect opportunity to showcase our craftmanship and expertise through a truly unique offering."

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Hrsto pointed to ALAND’s longstanding development expertise as a significant benefit in delivering a positive outcome for The Walden.

“Being a fully integrated development and construction business with a highly experienced team, we have the benefit of in-house experts across the development spectrum, from acquisitions, design, planning, and construction, to sales, marketing, property management, through to building management.

“As one of Australia’s largest private development and construction groups, we’ve been in operation for 23 years, with a Gold Star iCIRT rating and a 100 per cent delivery success rate across numerous masterplanned and mixed-use projects – and we’re very much looking forward to bringing this expertise to The Walden and contributing to the ongoing revitalisation of North Sydney."

The Walden is the latest development in Sydney to have the 10-year Latent Defects Insurance policy by Resilience Insurance, protecting buyers from any structural or waterproofing-related issues for 10 years post-completion.&nbsp;

Demolition of existing structures on The Walden site has already commenced through specialist civil contractor Moits, with the aim of completing preparatory ground works by the end of 2025, ahead of construction commencement in early 2026.

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Joel Robinson

ALAND unveils The Walden, North Sydney's latest luxury apartment development

<a href="https://www.apartments.com.au/developers/toga-group">TOGA</a> has opened sales for the final building in Macquarie Rise, its latest mixed-use development in Macquarie Park.

Since launching its <a href="https://www.apartments.com.au/new-apartments/macquarie-rise-122-herring-road-macquarie-park-nsw-2113">Macquarie Rise</a> in late 2023, TOGA has secured over 125 sales in the Herring Road development, to a range of purchasers, from first home buyers to investors and downsizers. Around 65 per cent of purchasers have been owner-occupiers.

TOGA has now launched a new release of one-, two-, and three-bedroom apartments in the final building, Saunders Rise. Many of the apartments feature multi-purpose rooms and offer views of the surrounding greenery. Also part of the release is a series of&nbsp;sub penthouses housed on the upper floors.

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&nbsp;

“We’re delighted with the ongoing strong interest in our Macquarie Rise development, which is testament to the need for premium housing in this much-loved Sydney suburb,"&nbsp;Allan Vidor AM, Managing Director at TOGA, said.

"We’re proud to be able to offer buyers a unique product that includes luxury amenities, spacious living areas and flexible layouts, designed to suit all kinds of buyers, from young professionals to families and investors.

“We have long been advocates of Macquarie Park, and once Macquarie Rise is complete, TOGA will have built 1,000 apartments in the area, delivering much needed homes within a thriving precinct. It’s great to see the area become renowned for high-quality apartments, proximity to amenities and green spaces."

TOGA, one of Australia’s few Gold Star iCIRT rated developers, is also handling construction of Macquarie Rise. They are on track to complete the building in 2027.

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Macquarie Rise boasts a prime location, placing residents within immediate reach of Macquarie Centre, Macquarie University, and the newly completed Macquarie University Metro, connecting to the Sydney CBD is just over 20 minutes.

&nbsp;

Macquarie Rise residents also have access to Club Rise, an exclusive, residents only lounge designed by luxury hotel designers Stack Studio, offering an abundance of work and break-out areas, a Pilates studio, a gym, and a karaoke room. As well as these premium amenities Macquarie Rise will also feature an impressive podium top 20m lap pool.

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“Offering luxury, spacious apartments in a vibrant and well-connected neighbourhood, it’s no surprise that Macquarie Rise remains popular with a range of buyers," said TOGA's General Manager of Sales, Anthony Falas.&nbsp;

"With interest rates tracking downwards, we expect the final apartments to continue to receive high levels of interest.”

Located at 122 Herring Road, Macquarie Park, the development will be delivered in partnership with Baptist Union NSW and Morling College with a value of over $400 million.

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[smartcode_project_cta:default project_id=89243]

TOGA launches final stage apartments in Macquarie Rise

Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-level project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm Bourke St site.&nbsp;

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Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

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Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

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The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

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This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Apartments are priced between&nbsp;$640,000 and $3.95 million. Off the plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

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640 Bourke Street: A heritage address at the heart of Melbourne

Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

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“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

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The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

[smartcode_project_cta:default project_id=114189]

Abadeen tops out Northcote Collective in Naremburn

Sunshine Coast-based <a href="https://www.apartments.com.au/developers/devcon-property-group">Devcon Property Group</a> has acquired one of Maroochydore’s most prominent development sites for $12 million unlocking the potentialfor a mixed-use project in the Cotton Tree precinct.

&nbsp;

The 4,178 sqm site at 41–43 Aerodrome Road—well known locally as the former home to one of Australia’s last Sizzler restaurants—was sold via an off-market expressions of interest campaign by Colliers agents Nick Dowling and Baydn Dodds. More than 70 targeted buyer groups were approached, resulting in multiple competitive offers for the property.

Devcon Property Group Managing Director Michael Kain said the acquisition was a strategic move in line with the company’s focus on delivering high-quality projects in prime coastal locations.&nbsp;

“We’re excited about the possibilities this site, in one of the Sunshine Coast’s most iconic beachside &nbsp;communities, offers for a broad range of development outcomes,” Kain said.

“Its location, ocean view potential, and proximity to the Maroochydore CBD and beach make it an &nbsp;outstanding development prospect. Our plans are to refurbish the existing building and then review &nbsp;development options for the remainder of the site.”&nbsp;

<img alt="Aerodrome Rd site overlooking Beach (Large)" data-entity-type="file" data-entity-uuid="a29dc4ed-68c1-4bec-a4fc-283063dcde1e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Aerodrome%20Rd%20site%20overlooking%20Beach%20%28Large%29.jpg?VersionId=b0WxJWevmLoAfCP4YvGImZpR3rSCJJ9L" />

Colliers Special Projects Manager Baydn Dodds said the sale reflected the ongoing strength of the &nbsp;Sunshine Coast’s development site market, particularly for projects capable of achieving water views. &nbsp;

“Sites of this scale, in walkable beachside locations with ocean views, are tightly held and continue to attract significant interest from both local and national developers,” Baydn Dodds said. &nbsp;

“Holding a prominent position as the former home to one of Australia’s last Sizzler restaurants and more recently occupied by Rashays, the prime site is located just 150 metres from Maroochydore Beach.&nbsp;

“With stunning ocean view potential, located in one of the Sunshine Coast’s best known iconic &nbsp;beachside communities, within steps of shops, cafes and the beach it is no surprise that there was strong interest in the site. The transaction highlights the ongoing depth of demand for well-located &nbsp;mixed-use sites across the Sunshine Coast.”&nbsp;

Colliers Sunshine Coast Managing Director Nick Dowling said the transaction reinforced the &nbsp;Sunshine Coast’s status as one of Australia’s most active development markets.&nbsp;

“The combination of strong population growth, lifestyle appeal, and infrastructure investment is &nbsp;driving demand for quality development opportunities,” Nick Dowling said. &nbsp;

“The Sunshine Coast is one of only three markets nationally to record an increase in crane numbers, &nbsp;reflecting the strength of the region’s construction pipeline.&nbsp;

“Opportunities like this are rare and continue to generate strong buyer interest in the region.”&nbsp;

The Sunshine Coast development market is booming, with several high-profile developers like Cube Developments, Gardner Vaughan Group, and RCQ, planning developments in the region.

Devcon buys Sunshine Coast’s former Sizzler site for new apartment development

Investor Stories

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GUEST OBSERVATION
In the north-east corner of Australia’s most populous state of New South Wales is a small former dairying and banana farming community. Today, however, that village is unrecognisable.
Nimbin is now widely acknowledged as Australia’s counter-cultural capital, a sister city to both Woodstock in New York State and Freetown Christiania in Denmark.
Among Nimbin’s tourist attractions today are its Hemp Embassy and the annual Mardi Grass festival in early May, which argues for the legislation of marijuana for personal and medicinal use.
The village’s transformation from a rural farming community to its present form can be traced to 1973, when Nimbin became the unlikely host of the Aquarius Festival – a counter-culture arts and music gathering presented by the radical Australian Union of Students.
Why is Nimbin the way it is?
These social and political origins of the commodified hippie culture on display today in Nimbin have become less apparent to visitors and more recent migrants to the region.
Visitors, especially those arriving on bus tours, tend to shop, buy coffee and leave again. To counter this, the Nimbin Tourism Office commissioned me in 2016 to produce an app-based <a href="http://soundtrails.com.au/nimbin-soundtrail-2/" target="_blank">audio walk</a> to promote a deeper engagement for tourists with the town and help answer the question: why is Nimbin the way it is?
Here’s a snippet:
<audio width="300" height="32" preload="metadata" controls="controls" data-duration="64" data-image="" data-title="Local voices on how the 1973 Aquarius Festival changed Nimbin forever" data-size="2563028" data-source="Jeanti St Clair" data-source-url="" data-license="CC BY" data-license-url="http://creativecommons.org/licenses/by/4.0/"><source src="https://cdn.theconversation.com/audio/1568/final-snippet-01.mp3" type="audio/mpeg"></source></audio>
<div class="audio-player-caption">Local voices on how the 1973 Aquarius Festival changed Nimbin forever. Jeanti St Clair, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>2.44 MB <a href="https://cdn.theconversation.com/audio/1568/final-snippet-01.mp3" target="_blank">(download)</a></div>
The audio walk, an adapted version of which features on today’s episode of Essays On Air, was published onto the GPS-enabled mobile phone app <a href="http://soundtrails.com.au/nimbin-soundtrail-2/" target="_blank">Soundtrails</a>. Soundtrails is owned by <a href="http://www.thestoryproject.org.au/" target="_blank">The Story Project</a>, an Australian organisation focusing on oral history-based audio walks and they’ve published more than a <a href="http://soundtrails.com.au/explore/" target="_blank">dozen such walks in regional Australia</a>.
<a href="https://images.theconversation.com/files/271413/original/file-20190429-194620-7m4bqg.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/271413/original/file-20190429-194620-7m4bqg.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
A scene from the Aquarius Festival in Nimbin, 1973. <a class="source" href="https://www.flickr.com/photos/harryws/4509202611/in/album-72157623828646000/" target="_blank">Flickr/Harry Watson Smith/harryws20</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
Anyone with a smartphone can access it by downloading the app and the Nimbin audio walk and following the route through the village’s streets and parklands. Headphones provide the best experience.
The stories I share with you today are excerpts from the Nimbin Soundtrail and are drawn from consultations and interviews with more than 60 Nimbin residents, Aquarius Festival participants and Indigenous elders.
Here, I’ve tried to reconnect the past and the present to make clear how Nimbin became the counter-cultural capital that it is. And the caveat is that many of the events in this documentary walk happened more than 40 years ago. I’ve recognised that memories have merged with other retellings that evolved over the years and the definitive truth is perhaps unavailable. Any version of Nimbin’s counter-culture will be an incomplete history.
The nine months it took me to gather these stories and make some sense of how they fitted together were rewarding.
And while there are some who might dispute the accounts of what happened in these stories, others agree that it’s a fair record of Nimbin contemporary history. The full Nimbin soundtrack can be heard by downloading the <a href="http://soundtrails.com.au/" target="_blank">Soundtrails</a> app and listening <a href="http://soundtrails.com.au/explore/" target="_blank">here</a>. And if you are ever in the area, I invite you to take a day out, visit and listen to the stories in town.
<a href="https://images.theconversation.com/files/271383/original/file-20190429-194616-xhtyri.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/271383/original/file-20190429-194616-xhtyri.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
A crowd at the Nimbin Hotel during the Aquarius Festival, Nimbin, 1973. <a class="source" href="https://www.flickr.com/photos/harryws/4509270669/in/album-72157623828646000/" target="_blank">Flickr/Harry Watson Smith</a>, <a class="license" href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
Jeanti St Clair, Lecturer in Journalism, Southern Cross University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/nimbin-before-and-after-local-voices-on-how-the-1973-aquarius-festival-changed-a-town-forever-116520" target="_blank">original article</a>.
Main photo: A scene from the Aquarius Festival in Nimbin, 1973. <a href="https://www.flickr.com/photos/harryws/4509795046/in/album-72157623828646000/" target="_blank">Flickr/harryws20/Harry Watson Smith</a>, <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a>
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j.ballantyne1990-6AQqhLzZaK

Nimbin before and after: local voices on how the 1973 Aquarius Festival changed a town forever

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GUEST OBSERVATION
In 1961, the Australian Labor Party came within a whisker of an unlikely victory.
At the time, the ALP was still recovering from a split with the Democratic Labor Party and was not viewed as a serious threat to the Liberal-Country Party Coalition. The <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/BN/2011-2012/DPLOverview" target="_blank">DLP</a> was a conservative, Catholic-based, anti-communist party that consistently gave its preferences to the Coalition over the ALP.
In the 1958 federal election, aided by DLP preferences, the government of <a href="http://adb.anu.edu.au/biography/menzies-sir-robert-gordon-bob-11111" target="_blank">Robert Menzies</a> was returned to power in a major swing against the ALP. The Coalition gained 54% of the two-party preferred vote, with 77 seats in the House of Representatives to the ALP’s 45.
What nearly cost the Coalition the next election, though, was the Menzies government’s “credit squeeze”.
The end of import restrictions and the credit squeeze
Despite its huge electoral advantages, the Menzies government began to encounter political problems in the early 1960s. From 1952 to 1960, the Menzies government had been forced to license imports because Australia’s rural exports did not earn enough to pay for its imports. An opportunity to abolish import licensing came at the end of the 1950s, when <a href="https://www.rba.gov.au/publications/confs/1992/stevens" target="_blank">inflation</a> started to rise.
<a href="http://primeministers.naa.gov.au/primeministers/holt/" target="_blank">Harold Holt</a>, the then-treasurer, urged the government to end import licensing to boost imports and thereby dampen inflationary pressure. <a href="http://adb.anu.edu.au/biography/crawford-sir-john-grenfell-jack-1391" target="_blank">Sir John Crawford</a>, the secretary of trade, disagreed. He feared a blow-out in the balance of payments, and urged caution and a gradual easing of import controls.
Despite Crawford’s objections, the Cabinet preferred Holt’s plan and abolished import restrictions in February 1960. The result, as Crawford predicted, was a balance of payments crisis. In November 1960, Menzies took drastic action, sharply increasing sales taxes and imposing restrictions on credit to bring the economy back into balance.
The consequence of the “credit squeeze” was a minor recession. <a href="https://melbourneinstitute.unimelb.edu.au/downloads/working_paper_series/wp1997n24.pdf" target="_blank">Unemployment</a>, rose to 53,000 people at the end of 1960, and 115,000 at the end of 1961. The Menzies government’s longevity after 1949 had partly been due to its achievement of high levels of employment. Even moderate levels of unemployment posed a significant danger for a government that would have to face re-election in 1961.
But <a href="https://www.propertyobserver.com.au/https://catalogue.nla.gov.au/Record/56067?lookfor=author:%22Martin,%20A.%20W.%20(Allan%20William),%201926-2002%22&amp;offset=10&amp;max=31" target="_blank">Menzies</a> remained optimistic. He said: "I do not think we will be beaten. There are no circumstances which would suggest even a remote possibility of the opposition winning 17 seats."
The 1961 election
<img src="https://images.theconversation.com/files/269258/original/file-20190415-147487-g1ygt3.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt="">
Gough Whitlam meets with Arthur Calwell. L. J. Dwyer, National Library of Australia, nla.obj-142691238
The ALP, led by Arthur Calwell and Gough Whitlam, seized the opportunity given them by the Menzies government’s apparent mismanagement of the economy. Calwell, despite being a far less impressive television performer than Menzies, campaigned doggedly on the economy. Calwell also received support from the Sydney Morning Herald, whose owner, Sir Warwick Fairfax, had become disenchanted with Menzies.
Calwell promised that, if elected, the ALP would reduce unemployment through a series of selective import controls and expanded social services. <a href="https://www.propertyobserver.com.au/https://catalogue.nla.gov.au/Record/56067?lookfor=author:%22Martin,%20A.%20W.%20(Allan%20William),%201926-2002%22&amp;offset=10&amp;max=31" target="_blank">Menzies</a> lampooned Calwell’s ideas as pie-in-the-sky rhetoric, and broadened his attack to include the ALP’s alleged closeness to the Communist Party.
Queensland was the key state. The Coalition held 15 of the 18 Queensland seats in the House of Representatives, and the ALP needed to win a swag of them to have any chance of victory. But election observers predicted that the ALP would not pick up more than two or three in Queensland, and that the ALP’s overall gains would be limited to seven or nine seats.
Following a frantic whistle-stop tour by Whitlam to north Queensland, the results of the December 9 election surprised everyone. For days, the election hung in the balance.
In the end, the ALP won a total of 15 seats, eight in Queensland. But the vote count finally tipped in Menzies’ favour when Billy Snedden was returned in Bruce and <a href="https://www.smh.com.au/national/killen-dies-aged-81-20070113-gdp8i6" target="_blank">James Killen</a> in Moreton, both supported by DLP preferences.
Menzies was so shell-shocked by the results that he did not congratulate Killen on his victory, forcing Killen to concoct a story that the prime minister had famously <a href="http://www.andrewbartlett.com/blog/?p=1286" target="_blank">greeted him with the words</a>: "Killen, you were magnificent."
Consequences of the election
In the long-term, Menzies and his colleagues were able to turn the near-defeat in 1961 into another decade of Coalition rule, aided by further electoral victories in 1963, 1966 and 1969.
When <a href="https://www.propertyobserver.com.au/https://catalogue.nla.gov.au/Record/3545835?lookfor=author:(SExton,%20Michael)&amp;offset=1&amp;max=42" target="_blank">Labor</a> was finally able to win office in 1972, it faced three years of unremitting hostility from the Senate, non-Labor states and an opposition that regarded an ALP government as so exceptional as to be illegitimate.
If Labor had won in 1961 and lasted until 1964, or perhaps longer, could this have had a longer-term impact on the country? Would Australia have entered the Vietnam War? Would conscription have been introduced? Would Australia have officially recognised the People’s Republic of China a decade earlier?
Menzies’ legacy also would have been cut short by what would undoubtedly have been considered one of the biggest election upsets in Australian history.<img src="https://counter.theconversation.com/content/115140/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
David Lee, Associate Professor of History , UNSW
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/issues-that-swung-elections-the-credit-squeeze-that-nearly-swept-menzies-from-power-in-1961-115140" target="_blank">original article</a>.
Main photo: Arthur Caldwell almost defeated Robert Menzies in the 1961 federal election, dominated by debate over the economy and unemployment. National Archives, National Library of Australia, Wikimedia, <a href="http://creativecommons.org/licenses/by/4.0/" target="_blank">CC BY</a> 
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The ‘credit squeeze’ that nearly swept Menzies from power in 1961

<html><body>More property investors are choosing to use mortgage brokers to secure finance, the third annual Property Investment Professionals of Australia (PIPA) Property Investor Sentiment Survey has found in the face of tighter lending conditions.   The national survey, which gathered insights from 742 property investors, found that 73 per cent of investors used the services of a mortgage broker to secure their most recent loan – up significantly from 65 per cent two years before.   And in the next 12 months, 83 per cent of investors intend to finance their next loan through a broker – up from 71 per cent last year. By far most investors (68 per cent) think it is unfair they have to pay higher interest rates compared to owner occupiers, the results showed.   Yet, despite the changes in lending serviceability over the past two years, the largest proportion of investors (38 per cent) report no difficulty refinancing, although a significant minority (28 per cent) aren’t sure, and 22 per cent said they are having difficulty refinancing.   Given lenders are charging higher interest rates for interest-only loans, 30 per cent of investors said they either have switched or intend to switch to principal and interest repayments, however an even bigger proportion (36 per cent) said they have no plans to switch.   PIPA chair Ben Kingsley said that the survey results confirmed that sophisticated investors were prepared to use professionals to help their grow their portfolios.   "The restrictive lending environment for investors across the nation may have removed some of the speculation out of the market, but is also preventing some sophisticated investors from investing in their financial futures as well as adding to the supply of rental properties," Mr Kingsley said.    "Our survey results show that rather than be defeated, educated property investors are opting to use professionals to assist them to achieve their goals – regardless of the lending environment."</body></html>

Mortgage brokers increasingly sought out by property investors: PIPA survey

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The federal budget’s proposed changes on investor property tax claims relates mostly to residential properties and there is “absolutely no change” for commercial properties, according to quantity surveying firm Washington Brown’s CEO and director Tyron Hyde.
The government targeted only residential property investors because of the huge price increases mainly in Sydney and Melbourne that has raised question marks on housing affordability.
So offices, industrial and retail properties were let off. 
However, the budget did leave the Division 43 deductions untouched, says Hyde. 
“What does that mean? Well, as I said before, there’s two components of a depreciation schedule. There are the plant and equipment and there’s the building allowance. The building allowance is the structure,” Hyde told his audience at a web event.
Depreciation allows you to claim a tax deduction for the wear and tear on an investment property over time, but the Federal Budget foreshadowed an amendment. 
Investors can still continue to claim brickwork, concrete, the roof, the scaffolding even if a property is bought after the changes come into effect.
But he added that there was confusion in the market as to whether these changes affect the new property, or is it just secondhand property? 
“No one knows. I’ve been in meetings with other Quantity Surveyors firms and really, we are unsure. I’ve written to Treasury and asked them for their guidance as to whether new property can still continue to claim the depreciation of plant equipment, and I got the usual response, ‘We’re formulating this budget measure …,” said Hyde.
Quantity surveyors Leary &amp; Partners Investors echoed similar sentiment earlier, the budget had stripped investors buying second-hand residential properties of a major tax deduction.
Hyde said many peopler are buying new properties but are unsure of their depreciation claims because of the fog around the rules.
The budget statement said, “Acquisitions of existing plant and equipment items will be reflected in the cost base for capital gains tax purposes for subsequent investors.” 
Now the key is here “existing plant and equipment items”, said Hyde. 
This clearly means if it’s a secondhand property it’s an existing item, “but if an investor buys a brand new property that’s being finished, but only two weeks old, is that an existing plant and equipment item?” he asked.
There's even less clarity for properties off the plan where construction hasn’t even begun. 
The question to be asked here is if that is existing also because a contract has been entered into.
“What happens if I flip that property in three years time, who can claim those existing plant and equipment items? It wasn’t clear in saying brand new property’s okay, a secondhand property is not and that’s why there’s confusion in the market,” <a href="https://washingtonbrown.pages.ontraport.net/budgetchanges" target="_blank">asks Hyde</a>.
While these questions remain, the bad news is definitely for a secondhand property, he says because investors will not be able to claim depreciation on things like ovens, dishwashers, lights, air-con, television sets, blinds, carpets, all those depreciable assets.
If the property belongs to a high rise apartment tower, investors can not also claim for the common property items such as lifts, smoke detectors, an investor’s portion of the common carpet in the hallway, garage motor doors, etc.
So all those kind of equipment items will in the future be part of the cost phase. 
In order to claim the building allowance, you’ll still need to work out what the actual cost of construction of the structure is, he says. 
“The problem is that it’s going to be less.”
When building a house, roughly probably about 15% of the construction costs of a unit or a house relates to the plant and equipment of a building, that’s the ovens, dishwashers et cetera. The other 85% relates to the construction cost of the structure of the building. 
“It’s got a massive difference in the overall claim that you’ll be able to make over 40 years. The main difference is in the early years, and that’s when a property investor needs those claims,” he says.
So for a brand new unit bought for $850,000, the first year claim pre-budget will be about $20,000. However, post budget, if the property is not allowed, it will be about $9,000. 
The second year $17,000, the second year post budget $9,000. 
After 10 or eight years, when the rent’s gone up the big deductions count for less, but in the early years they matter a lot, Hyde says. 
 
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Grey areas in budget on building plant and equipment depreciation tax claims: Washington Brown's Tyron Hyde

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Domus Multifamily Real Estate Fund has completed the acquisition of a portfolio of US large-scale multifamily assets with Australian investors in an off-market deal for $168 million.
Domus, a managed investment scheme, teamed up with its investment partner US-based Geringer Capital, has acquired eight large-scale multifamily buildings, with the raising for seven assets fully subscribed and an additional raising for the eighth asset to be completed by August 2017, it said.
Multifamily real estate is any building with five or more separate dwellings held on a single legal title and leased to individual tenants. 
The Domus Fund expects to invest in US multifamily assets with below free-market rents and below replacement cost in areas which are poised for growth. 
US multifamily has consistently proved to be one of the most secure and stable of all real estate sectors over the long term, according to Domus, which has a long-term acquisition and hold strategy. 
The purchase cost and refurbishment came to US$174 million. Domus acquired the assets within the portfolio using floating rate acquisition debt of US$140 million, with the fund raising over US$20 million in equity. 
LS Global Advisors, an Australian advisory group, led the local capital raising for Domus in Australia.
“Australian investors are confident because they are investing at a time when home ownership rates in the United States are falling and rentals are rising due to affordability issues plus the prospect of 35 year financing a major drawcard,” said Les Koltai, principal of LS Global Advisors.
In 2013, the Domus US Multifamily Real Estate Fund had plans to test the test Australian investor appetite for American rental property, with a listing on the ASX. But the IPO plans fizzled out in the wake of the US Federal Reserve signalling an end to the quantitative easing policy and its repercussions on markets.
With the recent acquisitions, Domus has again tapped sophisticated Australian investors. 
“The multifamily class of assets is unique to the US which accounted for the significant interest from Australians in the raising,” said chief executive of Geringer Capital, Robert Geringer.
The assets are in a range of locations across the western states of the US in Arizona, Colorado, Oregon and Utah. 
They provide stable long- term income and have the potential for future capital growth, according to Geringer. 
<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/2017/06/22/Domus2.jpg" alt="">
One of the advantages of multifamily real estate in the United States is that it can qualify for low fixed rate, long term (up to 35 years) non-recourse US Government insured debt which currently carries an interest rate of 3.25 % per annum. 
The debt facility was provided by Jeffries-LoanCore and arranged by real estate investment bankers Ackman Ziff. 
Domus said it will make improvements to the properties to increase rental income ahead of refinancing with low, fixed rate, long term, non-recourse, US Government guaranteed debt under the HUD Program or other US Government agency debt. 
“Investors liked the attractive returns with a conservatively forecast investor IRR of more than 18%, the repayment of invested capital in approximately 18 months’ time and the USD exposure,” said Les Koltai.
Each individual property contains between 83 and 269 apartments housed throughout two or three level buildings and spread across well maintained acreage. The portfolio comprises 1,296 individual apartments. 
The purchase price for the portfolio was negotiated off-market by Geringer Capital and is below the estimated replacement cost, said Domus.
Together with Geringer Capital, Domus will make further large scale portfolio acquisitions which it is actively pursuing ahead of an IPO. 
Domus Investment Management chairman and former head of institutional property lending for the Commonwealth Bank, Peter Barne Australian investors were being offered solid returns underpinned by long term debt capital “which is simply not available in the Australian market”. 
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US fund Domus acquires multi-family assets for $168 million with Australian investment 

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Mother's Day always makes me reflect not just on my beautiful family but also on where I'm at on my property investment and business journey.
You see I started investing when I was pregnant with my first son and launched Property Bloom, my development project management business just after he was born.
He's turning fourteen this year and my youngest will be eight soon. setting up an investment portfolio, running a family and a business has been my labour of love during this time and I've had a good time with it. 
Slowly over time I've been teaching my sons little things about saving and investing. My goal is for them to each buy their first property when they turn eighteen. I've set up a savings account for them both that will hopefully contain enough for a deposit by then. I guess I'll probably have to guarantee their loan but I'm looking forward to helping them choose their first property very carefully as it will need to have high cash flow as I assume they won't be earning too much at eighteen - but they will be earning. The part time jobs I had as a kid gave me some great experience and good foundations of responsibility.
Planning for this first investment will be one of the legacies that I leave them. Can you imagine buying your first property at eighteen?  I wish I had of, imagine its value now?  I can almost hear them say when they turn thirty..."I'm so glad mum taught us to start our property portfolio at such a young age."  Well that's what I'm hoping they'll say anyway.
Out of interest, I asked my eldest son to write down five things he thought about me as a mother; I said it can be good, bad or ugly. This is what he wrote: "reliable, loyal, loving, funny and smart (in that order)"
I notice he left out anything to do with cooking (there's a good reason)!  I'm pretty pleased with that list I think.  He elaborated a little by saying "mum you are all these things because I see you work hard and you do so much for us. Also, you have to be reliable as you are looking after your client's property developments!"  well that's true.  I asked him if I really was funny? and he said ''yes but only sometimes".
That pretty much does me for a Mother's Day present then, those five words make my heart sing.
Happy Mother's Day to all the mums out there, I hope you get showered with loving words too (the odd bunch of flowers won't go astray either!).
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
 
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Five words that made my Mother's Day: Jo Chivers

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Recently I've had to really think about my future. Due to a change in my personal circumstances I had to sit down and review my life's road trip plan to retirement.
The road trip I had been on, whilst full of many great things, also had some very bumpy bits and even a few dangerous conditions. Despite this, along the way I'd been able to build up a portfolio of five investment properties.
During this time, I've project managed over eighty property developments for our clients.
I watched a TV program tonight that was talking about the shortfall in rental properties and it touched on the big 'negative gearing' angle that seems to be featuring a lot in the press lately.  It struck me that it seems to be looked upon that only 'the rich' can own rental property.  Of course, this is not the case.
I reckon it is hard workers and those who want to take a bit of a risk that gets to own property. Nobody is going to drop an investment property into your lap. You need to go after it.
Many of Australia's property investors earn less than $80,000. My 29 year old step-daughter owns three properties now and she's been earning less than $50,000 for some time. She bought her properties in the past five years and went after affordable, older style apartments where the rent almost covered the outgoings.
When you work so hard to buy property you don't want to let it go. My belief is that property is a long-term investment due to the high entry costs such as stamp duty, loan set up and maintenance costs and legal fees.
Yet regrettably I had to sell one of my babies!  No not one of my sons, but one of my properties. This decision did not come lightly but it made financial sense to do so.  Luckily it had more than doubled in value over the past 10 years.
Then I read somewhere that only about 8% of Australians own one investment property. This story went on to say that less than 1% owned three or more investment properties. Whilst this helped me to feel a bit better about having to sell one of mine, I was astounded by these statistics.
Then I thought about what a client of mine had said to me when he was assessing a dual occupancy project: "You know Jo, when I look at the gross yield we can get from a duplex project and combine it with the depreciation benefits I'll get from building two, new properties, this type of development will help me move forward as it will be cash flow positive for me".
I think that's it in a nutshell.  If you invest in property that is not going to drain your cash flow, you can keep buying.  But you also need the mindset to do this multiple times.  What may hold some investors back is buying a property that is too negatively geared.  I'm all for letting the government help us pay off our properties, but you need to understand what you can and can't afford in terms of cash flow.  Perhaps one or two negatively geared properties is OK depending on your income, but more than that, you'll need to look for better cash flow so you can keep buying. With negatively geared property, you rely on the capital growth in the future to pay yourself back.
When we look for development sites, we focus on finding those that will create a nice amount of equity in addition to producing a strong yield and depreciation benefits.  Our clients end up with two properties putting them above the 8% of Aussies owning just one.
A typical dual occupancy project costs less than an older style two bedroom unit in Sydney yet will create equity and great cash flow, by the time construction is completed.
Of course a triplex development will put you into the 1% of Aussies owning three or more investments.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Hard work will allow you to grow your property portfolio: Jo Chivers

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It's been 100 years since the landing at Gallipoli, so I thought that I'd pay tribute to those who I knew or know that are serving their countries or had to live through wartime.  
Reflecting on these stories reminds me of how lucky we are to be living in such a peaceful and free country. It gives me inspiration to keep working hard to achieve my goals and dreams.
My Dutch father was a young man of about 17 during the second World War. He was captured by the enemy and taken by train to work in Germany. He was only a teenager but he escaped by jumping off the train in France and walking all the way back to Holland. It took him weeks and he lived on next to nothing. His determination carried him home. Then he was captured again and made to work in the horrible concentration camps where so many people were killed. He somehow escaped and again made his way back to Holland.
He served time in the Dutch Marines and was stationed in Indonesia for a while before receiving shrapnel injuries which left him deaf in one ear. Dad then immigrated to Australia from Holland after World War II ended, I think a lot of people wanted to get as far away from the atrocities they'd experienced. 
When I stated investing in property it made dad proud. He’d done well from various entrepreneurial businesses and building his own home. Paying just $12,000 for a big block of land and only another $50,000 or so to build our family home years ago, they made a pretty penny when they sold it.
Dad passed away in 2013 and so this Anzac Day I think of my dear dad.
Another person I'd like to talk about was one of our clients. Alison and her husband are both in the Australian Army and we managed a granny flat development for them whilst they were both serving in Afghanistan.
During her time away Alison endured some horrific things; in late August 2012, five fellow Australian troops died.
We were so proud to have members of the Australian Army as clients and are grateful for their work overseas serving Australia.
Here's what Allison had to say: "We asked the Property Bloom team if they would be able to project manager with both of us in a war zone and they were incredibly supportive. Harry and I were both based in Tarin Kowt and had semi-reliable access to internet, e-mail, scanning and printing facilities. Through perseverance, patience and understanding form the Property Bloom team, we were able to continue to progress our Granny Flat project. Not only were Property Bloom understanding when we were unresponsive for a couple of days, or when the turnaround time for signing paperwork was more than a month, but whenever the news of a tragedy in Afghanistan hit the Australian media, Jo and her team would send us messages of support and condolences. This support meant as much to us as the project management service they were providing for our development."
As you can imagine, developing property from a warzone is a challenge but would have been near impossible without the help of a project manager (PM). The more obstacles we faced, the more our PM rose to the occasion to help us. We are so grateful - not only because they have helped us secure and develop a fantastic property, but also because they are professional and incredibly genuine people.”
I really cherished the updates we would get from Alison occasionally when she had email access and was amazed at some of the conditions she had to endure including no running water for days, how is a girl to wash her hair!  But what amazed us the most was the huge commitment to continuing their property investment journey that Alison showed by being able to continue with her project with all the other distractions she would have experienced in Afghanistan. 
So this Anzac Day I am also thinking about Alison and Harry who are safely back on Aussie soil again and working on their next development project.
This Anzac Day I am grateful for all we have here in Australia and to say thank you to those who fought for it and to remember those who sadly lost their lives for us.
Lest we forget.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Tributes to those who inspire me: Jo Chivers

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GUEST OBSERVATION
Those who have read my book or heard one of my presentations, are often struck by the juxtaposition on some of my investing suggestions. It usually goes something like this:
a) You’re a conservative investor but you recommend spending more money on property at times like this.
b) You say Sydney is the best and most robust market in Australia but when I heard you speak you are saying that Sydney is “terrible” investing right now.
c) You say you’re not a speculator, but you actually have the gall to recommend the Gold Coast market now? Are you mad?
Well. I can answer them all with yes, yes, yes and yes (the last one being for ‘yes’, I am mad!).
So let me try and explain.
Is Mr/s Average Wealthy?
I have made almost all of my wealth from investing by putting my money down when it seemed like absolutely the craziest thing to do. Think about this for a second.
The average price for a 2/1/1 unit is say Coogee/Bondi is now approaching $850,000 to $900,000. Clients of ours were buying these same units for as little as $530,000 as recently as 2012. Some of these same clients are now selling. Most are not. All of them are ecstatic with the performance of their investment(s). The prevailing rent at the time was approximately $630 to $650 per week. $530,000 for $650 per week is an excellent deal, especially in premium Sydney.
Now, saturation of the rental market has meant that these rents should arrive at between $580 per week and $590 per week within 18 months. Remember, this is an investor lead property recovery. More rental stock will mean higher vacancy rates going forward.
It is the average property investor that has driven the prices up to almost $900,000. Do you think they would be happy with their results when they wake up to realise their investment is now yielding sub 3%? I suspect not. More likely, I’d even say with certainty that the likely result is a small but immediate retreat in prices to reflect the newfound ‘wisdom’ of investors.
Keep in mind that I don’t see a larger correction (yet) while interest rates oscillate around these levels, so I’m not here to spook anyone. But investing is more about psychology than one would think.
Perception Bias
The problem of the ‘average’ investor in this scenario is that they have perception bias.  World class resource investor Rick Rule cites that “expectations of the future are usually set by their experiences in the immediate past”. The punter saw $600,000 become $700,000. They saw $700,000 become $800,000. They saw a slight arm wrestle with the market in winter/spring of 2014 which might have changed their mind. But alas, the bulls won that round with the noise of interest rates pursuing their downward trend. Then the last move from $800,000 to $900,000 has sealed the deal. The averages are piling in. Remember, ’average’ doesn’t become wealthy.
Now their expectations are set. $900,000 will now become $1 million. $1 million will become $1.1 million. Rinse, repeat.
No. It. Will. Not.
This is not just illogical, wishful thinking and void of wisdom, but it also ignores a common tenant of investing in assets. A Golden Rule I have always followed as a professional investor, that being: ‘an assets value cannot be outstripped by people’s ability to afford that asset’. With Sydney-siders bordering on 55% of their household income being spent on property, (this has (historically) always been our limits...since our economy went global in 1988. If I am to be wrong, please tell me which part of the family budget will be stripped. Is it food? Education? Is it healthcare? Try telling your child they’re not getting the next iPhone?
If you are betting on this happening... you are betting against history. And if I am wrong by a decimal point, it doesn’t make me wrong to warn off investing in Sydney (or Melbourne for that matter) now. If we decide to break a record and spend 56% of our household income on property, this discrepancy wouldn’t even cover the cost of ¼ of your stamp duty.
No, my friends. Mr and Mrs Average are about to lose their shirt. I just hope it isn’t you; dear reader.
Over Committed? Is there a way out?
But now for the good news. The above scenario, while inevitable...is not ‘imminent.’ I have been forced to take a more ‘hawkish’ view of the prevailing sentiment over the past 18 months, and of course the fundamentals. Interest rates will be lower for longer. One more rate move down seems likely, but it matters not. One rate decrease equals $40 per month more affordability. If you think this changes anything try the Woolworths test. Go in and spend $40 and see how long it takes you to do it. You’ll be at the register in four minutes flat...no need for the trolley with $40 worth of goods!
For those that are over committed, there is time to get out of this mess. For those that bought a lemon, time to rethink. For those that are going to sell anyway, in say the next 4 years - maybe now is a good time to consider it. Mr and Mr Average certainly aren’t thinking too hard. They are getting pretty drunk on their own kool aid... so while they are still inebriated, perhaps sell them yours before they sober up. They’re going to buy anyway, why not make sure it’s yours?
Is there any opportunity in the market left?
I was gratified last weekend to finally see some of the major financial newspapers acknowledge that opportunity is abound in South East Queensland, something our office has been screaming from the rooftops for almost 30 months!
“The next cycle could prove to be a super cycle driven by Chinese investment and rapidly growing tourism,”CEO of Fat Prophets Angus Geddes says. Not one to mince words, Mr Geddes also agreed with my sentiment. “I would not be touching them [Sydney, Melbourne, London, Auckland] at current elevated levels with a barge pole.” Along with Andrew Wilson, property economist from ‘Domain’ is similarly upbeat about the Gold Coast.
But of course 9 million people (Sydney and Melbourne) deserve a lot of attention, and for the past two years they have spoken. But ponder this.
For every $600,000 I’ve seen make $850,000 in Sydney, I’ll show a better deal with even more upside in Brisbane or the Gold Coast. Acknowledging that the next two years are expected to be bullish for these cities, this has not precluded great profits over the past two year either. A client of ours bought a unit 15 months ago in Kent St New Farm (Brisbane), for $343,500 (2/1/1) in a small block of six. Another apartment in the same small building (of comparable merit and amenity) just sold for $450,000, an almost 25% gain in equity for our client. Given the small entry costs, higher rental yield and continual expected growth going forward... I know what I’d prefer. To eke out the same gains in Sydney, an investment of double that size is necessary (notwithstanding that I think the average priced investment gains are over anyway!)
Similarly, a Gold Coast property boom, for all its volatility... is a truly remarkable thing to participate in for three years out of 10. Now is the season where larger developers move into the Coast and pick up the last big land holdings while they’re still cheap. In the past six weeks, six clients of ours have experienced gains in excess of 100% for their venture into the Gold Coast less than two years ago...when there was blood on the floor. To cite the most profitable deal - a client of ours paid $165,000 some 24 months ago sold for $500,000 to a developer into the well publicised Banyan Tree Resort consolidation of some $50 million. Our buyers agents located four clients in this block, and by all indicators at the time I’d like to think it was an obvious position we took in identifying this site as a likely future development site. But it does make you then wonder what could have induced the seller to sell two years ago; with a rental return of $250 per week and a low body corporate fees in such a site rife with potential.
Clearly, the factor here wasn't a fundamental one...but a psychological one.
Predictions
As the property market recovery turns now to the smaller cities, I expect to see larger profits on smaller outlays on the Gold Coast and Brisbane. Some time ahead should see the regionals follow suit, albeit with a much higher risk proposition.
While now being very bearish on Greater Sydney and Melbourne average priced properties, I expect the premium markets to thrive. It’s universally understood and historically shown that this is the way markets mature within each cycle. Markets recover in a financial sense from the “bottom up”. That is, everything that’s cheap... flies first. And in a geographical sense, the market moves from ‘in and out’. That is, from an ‘epicentre’ (high density urban) out into the out suburbs, and finally to the fringes. Also known as... ”the ripple effect.”
Stop thinking about where the money was made. Start wondering where the money will be made next.
I’ll expand on the ‘ripple effect’ in the next article and show the average investor how to truly beat the market to the next property profits. I’ll also briefly touch on the much revered “Chinese investor” and the oft-misinterpreted truth about why Chinese investment is healthy, but why it isn’t going to change your property price over the long term by any more than $1,000!
Gavin McPherson is the chief executive of <a href="https://www.oasisproperty.com.au/" target="_blank">Oasis Property Group</a>. 
His book, 'Value Investing in Property - What would Warren Buffet do if he was buying property in Australia?', takes aim at the get rich quick property experts and explains instead the sturdy path to wealth through value investing in property. 
As a buyer’s agent, Gavin and his offices have assisted over 2,000 plus property transactions valued at well over $2 billion.
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Average investors get average results: Gavin McPherson

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As a buy-and-hold investor, I’ve come across tenants of all walks of life.
Bachelors, single mums, share-house friends, retirees, young families; I thought I’d had a taste of every type of tenant possible. But then I realised, this is incredibly naïve. The truth is the diversity of the rental pool at any given time is as limitless as the diversity we find in humanity. So, I recently had my own little ‘witching hour’ of property insight recently with one such tenant.
With over seven billion people living on planet Earth, there is a practically infinite volume of lifestyles that people can live, making for so many different types of tenants that one could attract to their property.
Today I thought I’d share one such ‘out there’ example.
I recently acquired a new investment property that very much added up for me. After much due diligence on the area itself, the property itself, and some crunching of numbers, I made the decision to purchase the property.
This decision was made despite the appearance of the property which was, how do I say it, a little ‘kooky’. Upon looking at the property ad online, the property clearly appeared to be inhabited by, well... a practicing 'witch'.
Some of the interior features included:
<ul>
<li>Gothic statues hung above the kitchen cupboards</li>
<li>Animal skin rugs, an Eastern European throne chair, hanging Native American dreamcatchers, and many, many candlesticks adorned the living area</li>
<li>Dolls, fairies, tepees, more dreamcatchers, a witch’s hat, and mystical elements appeared in the bedrooms</li>
</ul>
To most prospective buyers, the creepy appearance of this property would have been enough to turn them away. Clearly, the price of the property, which was slightly below market rate for such a property in the area, was compensating for this appearance.
But to the trained investor looking a little deeper under the surface of things can sometimes fruit some great surprises. Upon further investigation, I discovered that:
<ul>
<li>The appearance, whilst full of kooky knick-knacks, was pristinely maintained. Not a speck of dust, not a single mark on the tiles, the floors squeaky clean. Clearly this tenant went to a great deal of effort to make the property appear clean – at least for the sale.</li>
<li>Why did the tenant do this? Turns out that she has been living there for 10 plus years, and had no desire to move out anytime soon. She clearly treated the property like it was her own, owned home.</li>
<li>I also learned that the tenant had been OK with incremental rental increases (in line with market rate) over the years, another good sign for the investor.</li>
<li>The body corporate of the property checked out well, as did the building and pest inspection. The townhouse was in a small complex, at the back of the block, avoiding the noise of any nearby roads.</li>
</ul>
Sometimes the quality of a tenancy applicant, or a tenant you may ‘inherit’ when you take ownership of a property, needs to be judged beyond any perceptions you have about that person based on their lifestyle.
I couldn’t care less about what a tenant in my property does in their personal life, so long as they comply within the requirements I maintain when seeking a good tenant.
These things are:
<ul>
<li>On-time payment of rent always; and understanding/respecting the odd occasion when rental rates need to increase in line with the market</li>
<li>Not damaging the property and generally looking after it</li>
<li>Reporting malfunctioning appliances, or maintenance works required; as/when they come up</li>
<li>Respecting common property areas and neighbours nearby</li>
<li>(Ideally) looking to stick around for as long as possible</li>
</ul>
If you have employed a highly skilled and competent managing agent to look after your property then they are the ones to make the best guided ‘judgement call’ on the quality of any particular tenant.
At the end of the day, astute investors need to draw up a list of the things that actually matter when seeking quality tenants and look beyond initial perceptions when weighing up tenancy selection decisions.
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