Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Investor Stories

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I just love my job and sometimes it feels like the universe is aligning with me.
This seemed to happen the other day when I was delivered an awesome development site right into the palms of my hands.
Not only did no one else know about this land but I'd been focussed on securing a site in this very location for some time. It's a great suburb on the east side of Maitland, one of the large cities of the Hunter that we develop in. This city has experienced the highest population growth of any inland city of New South Wales and is earmarked for more growth with a new major hospital and $350 million upgrade to the local shopping centre in the pipeline to name just two of the infrastructure upgrades happening in this location.
Today, I thought I'd share how we 'attract' a development site.  For those not too sure about the Law of Attraction, I have to admit that whilst it's nice to be all 'spiritual' around this, it is actually the result of years of hard work setting up contacts and developing almost 100 properties over the past 12 years.  But I'm happy to credit the universe too.
So here's what happened: The phone rings, it's one of my builders, let's call him 'Bob'.
"Jo, I've just heard about a good dual occupancy site coming up" Bob tells me. My ears prick, "Fabulous, tell me more please" and Bob my wonderful builder went on to share the location and address. He'd recently constructed a duplex in the same street and so he knew it well. He'd had a chat with the owner and they mentioned they were thinking of selling and explained which agent they were going to list with. 
This land is over 1,000 square metres and will nicely fit two freestanding, three bedroom, two bathroom homes with double garages. We will subdivide by way of Torrens tile.  There will be good yard space and being able to build freestanding dwellings with Torrens title and double garaging will add more to the end values.
As we talk, I jot down the agent's name and ask more details about the project he recently completed. "What were the build costs?" I asked Bob. Once I knew these, I added in a margin for the additional costs to build freestanding and upgrades that we generally add to our developments.
Before I had said goodbye and hung up the phone, I had a good idea of what this dual occupancy project would cost and the amount of equity we were likely to create. I'd been tracking sales in this location and knew of two very recent comparable sales that would support the estimated end values.
I rang the agent and he gave me more details on the land and promised to email me the contract so I could check the sewer diagram, survey, 88B Instrument, planning certificate and make more enquiries.
I pulled the land up on one of my online platforms that shows me high resolution imaging of the land - much better than Google Earth and more recent satellite images. What's more I can add labels such as lot and deposited plan (DP) numbers to the images and include the lot boundaries so I can get an idea of the shape and estimate boundaries (which helps when there is no survey of the land available).  These tools we happily share with our clients so they can also learn and take advantage of what we've set up.
After viewing the land from outer space and my computer, I will now go and physically inspect it. I'll get an idea of the fall on the land and drainage pits and services available. I can measure the boundaries and get an idea of where I will position the dwellings on the lot. I'll drive around and see the type of housing already built in the area and the community facilities and public transport available and in close proximity. All this will help me determine the rental returns and again confirm estimated end values. I'll check the recently sold properties that we will base our estimates on.
All this information will be delivered to our client who has already signed up with us. Our job is to present every development site we locate and our client has a choice of projects. These are presented in a detailed report and analysis on the development project. If they like what they see, and after getting clearance from their accountant and lender, we will move to make an offer on the land before it even hits the open market next week. 
I can't wait to walk all over this site and take a million photos and while I'm there I'll let the universe - and my builder - know just how much we appreciate them.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

How to attract a great development site: Jo Chivers

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This Sunday we celebrate International Women's Day and the theme this year is MAKE IT HAPPEN.
What a great theme. Yes, us ladies really need to make things happen for ourselves and for our families.
As women today, we are responsible for our own financial freedom but also we are role models to our children, teaching them the concept of being entrepreneurial and to invest early. Unfortunately, this is still not taught in school.
I wish I'd learnt to be an entrepreneur at school and wished I'd started on my property investment journey earlier than I did. I now clearly understand that time in the market is such a valuable thing. Property investing is not a short-term investment, although you can make some relatively quick gains by using development strategies to add value, by holding you avoid the exit costs.  If you hold property for the longer term - 10 years plus, you really see the results.
The start of my investment property journey coincides with the birth of my first son. He's turning 14 this year so it's easy to remember when I started to invest. My then husband and I had purchased the family home a good time before this and reaped the rewards of capital growth that a beach side suburb bought.
But it was my will to MAKE IT HAPPEN that started our investment portfolio. I wanted to plan for the future now we had a child on the way and I didn't want to depend on a pension in retirement like my parents had to.
When I was pregnant and after reading the famous book Rich Dad, Poor Dad by Robert Kyosaki,  I embarked on an intense property investment course because I wanted to become financially and property literate. I wanted to learn as much as I could so that I could make wise investment decisions rather than trust others with our money. I did this on my weekends and at night whilst I worked full time.
Just before my first son was born after much due diligence, I took a risk and purchased an off the plan property. Not long after my son was born, the completed property made me over $150,000 in less than a year and so my property investment journey began on a high note. I went on to buy, hold and add value to five more properties before my son turned five.
Whilst investing and being a mum, I found a way not to return to the gruelling corporate world by establishing my property development project management business; Property Bloom.
In 12 years we've developed exactly 92 properties for our clients.
I have worked hard and MADE IT HAPPEN. By the time my second son arrived seven years ago my business was established and I was doing what I loved.  Working in my own business gave me the flexibility to be with my kids when I needed and wanted to and to attend the school assemblies, special presentations and coach their soccer teams.
For me MAKING IT HAPPEN means that I am in a great place doing what I love for wonderful people that appreciate the guidance we can give through the property development process.  It also means having choices.
One thing that drove me on my journey of MAKING IT HAPPEN and to keep working whilst raising my kids was the thought of taking time off work which would leave me financially dependent on my husband not only during that period but also into my retirement. There would be no contributions made during this time to my superannuation and how could I keep investing in property if I had no income? 
According to The Association of Superannuation Funds of Australia (ASFA):
<ul>
<li>Women retire, on average, with $112,000 in super savings – $92,000 less than men 
</li>
<li>One in three women will retire with no superannuation at all 
</li>
<li>Around 90% of women will retire with inadequate savings to fund a comfortable lifestyle in retirement.</li>
</ul>
What's astonishing is that if we want to retire at the age of 60 and we live about another 30 years which is becoming more feasible each day as the average life expectancy is rapidly rising - right now there is a massive spike in people living to one hundred.   We will actually need in excess of $2 million in our superannuation to support an annual income of $70,000.
We all have a lot of work to do to build up our super but women in particular are on the back foot because of the pay gap and because women tend to be the primary caregivers for their children. We also tend to care for our aged parents which may limit our earning capacity at that time as well.
The gender pay gap is actually decreasing and is lower now than it was in 1985!  According to <a href="https://www.propertyobserver.com.au/https://www.dca.org.au/News/News/IWD-2015---Are-Australia%E2%80%99s-working-women-heading-back-to-the-future-/456" target="_blank">the Diversity Council of Australia's figures</a>, full time adult ordinary time earnings for women were 17.8% less than men in 1985 – now they are 18.8% less than men.
So what can we do?  Start with asking your boss for a raise, whilst that may not get you that two million bucks in super now, it may give you more serviceability to borrow. By leverage our incomes we can buy more property to hold.  Don't forget to look for property that you can add value to by using smart development strategies.
Finally,  we need to stop waiting and MAKE IT HAPPEN now! Let me know if you need a hand.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Women, it's up to us to make our financial freedom happen: Jo Chivers

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I'm going to have to admit something that is a bit embarrassing. I've been feeling quite guilty about it so I'm going to confess.
I bought an apartment about 15 years ago (before I started Property Bloom and discovered the Hunter Region).  It's been a great investment and has hardly ever been vacant.
It's located in Chippendale, an inner city suburb of Sydney. The balcony off the living area looks into a peaceful, leafy street and you wouldn't know it's only moments from the CBD and two universities. In fact, it's pretty much been rented consecutively to uni students. As one student would complete their course, they'd introduce the unit to a friend and we'd have a new tenant ready to move in.  
After much number crunching and portfolio gazing, it was time to sell it and as Sydney is experiencing nothing short of a boom right now, I took the lazy way out.
Here's my confession....
I tried to sell a property when it presented in its absolute worst state.  I thought a strong market would mean less focus was needed.
By worst state I mean the student tenants had stuff everywhere. The lounge room consisted of two desks and the rest was covered in what looked to be their entire life's possessions. It was more like a storage shed than a lounge room.  Whilst they were looking after it, there was just too much clutter.
Now, I'm used to walking into a property and seeing the true value through clutter. Believe me, I've seen some horrifying things in properties but I can visualise them cleaned up and our clients have benefited from this. 
Point 1:  Not everyone can visualise.
It's estimated that only 10% of home buyers can visualize the potential of a property. That means 90% are not going to be able to look past dirt, clutter, and imperfections.
Regardless of this, I said to the agent 'let's just whack it on the market and see what happens'. Whack it we did...and guess what, nothing happened! 
There was a lot of interest due to the fabulous location but not one decent offer was made.  Every penny pinching investor was out to make a quick buck and I don't blame them.
Point 2:  You attract low ball offers on poorly presented properties
So we pulled it off the market and waited for the lease to lapse.  Then we had an empty shell of an apartment.  Remembering that not everyone can visualise, I was certainly not tempted to try and sell it empty. We needed to show buyers how good it could look. That's when I called my friend Kylie, she'd started a staging and styling business called <a href="https://propertyrevamped.com.au/%20" target="_blank">Property Revamped</a>. 
In she came and within days of the tenant moving out, we have an entirely different property.
Point 3:  A total transformation can take place quickly
<img src="/images/2014/12/05/lounge%20room%20before.jpg" alt="">
lounge room before and after
<img src="/images/2014/12/05/lounge%20room%20after%20styling.jpg" alt="">
 and
<img src="/images/2014/12/05/bedroom%20before.jpg" alt="">
Master bedroom before and after
<img src="/images/2014/12/05/bedroom%20after.jpg" alt="">
Kylie explained that "Property styling can evoke a lifestyle, seducing prospective buyer into an environment where they envisage themselves spending time with family and friends".
Our agent Felice Cotroneo of Inner City is now the happiest man on Earth. He'd recently sold two properties that had been staged. Both had sold within weeks of being listed.
"We estimate that the staged properties sell 80% faster than non-staged or empty properties." said Felice.
"Styling helps buyers to see that certain furniture works in a particular room. Styling maximises the sale potential and your return on investment is substantial" he said.
Point 4: Look at the return on investment to see if it's the right tactic for you
I will be waiting to calculate the exact return on investment. The staging cost less than $2,000 and we have furniture for eight weeks. I think that's a pretty good investment. Stay tuned and I'll let you know how quickly it sells.
If you are interested in a good inner city investment, <a href="https://www.propertyobserver.com.au/https://www.innercity.com.au/12113913" target="_blank">take a look</a>.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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I have a confession to make: I tried to sell a poorly presented home

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Harry Li, director of the McDonald Real Estate’s Springvale office in Victoria was REIV’s winner of the award for senior auctioneer of the year in 2014 and a finalist in the Australia and New Zealand auctioneering event held recently in New Zealand. 
He spoke to Zoe Fielding about what it takes to be a top auctioneer.
Harry Li (pictured above) started out as a real estate rookie in Victoria about a decade ago.
After four years in property sales, Li – now a director of McDonald Real Estate Springvale – turned his sights towards auctioneering.
“I felt that was a natural progression,” he says. “At the time the company did not have a full time auctioneer so I thought I would do the training.”
Basic auctioneer training teaches the foundations needed to run an auction sales campaign and the technical skills to call an auction.
Some auctioneers simply do the basics but Li goes much further. Over the years he has taken one-on-one training from other auctioneers, and sought guidance and tips from people with more experience. But the most important element of Li’s skills development is practice.
“Time is what it takes,” Li says. “I practice with a partner four times a week. It’s like going to the gym. If you want to build your muscles you have to train regularly.”
The pair conduct mock auctions on a weekly basis whereas Li says many auctioneers only train once a week or only practice their craft when they conduct auctions on a Saturday.
It’s the details that make a good auctioneer stand out from the crowd, Li says.
In addition to the technical skills, such as knowing the rules, keeping track of the numbers, and using the right type of language, an auctioneer’s general persona is important. The auctioneer must be likeable and “real”.
“You don’t have to be an aggressive person. Some people are more passive and that’s OK but you have to be able to read the play of the auction. You have to be flexible enough to handle the scenarios that come up,” Li says.
An auctioneer must know when to take large or small bids and how far to push the bidders.
The auctioneer’s performance can have a major effect on how much more a property sells for, regardless of whether it is snapped up under the hammer or passes in and sells during later negotiations.
“If the auctioneer gets on the wrong side of a buyer it can cost the seller a lot,” Li says. “It’s an art form and that plays a part when it comes to the final result.”
Li’s hard work has paid off. He was winner of the Real Estate Institute of Victoria’s award for senior auctioneer of the year in October and was a finalist in the Real Estate Institute of Australia’s auctioneering competition held in New Zealand.
Unsurprisingly, he is a big advocate of auctions, although he says they are not appropriate in all markets or for all homes. In a slow market, or when buyers have access to a large amount of accurate data about the property’s value, which might be the case for identical units in a large block for example, an auction may not be the best option.
“If it’s a highly competitive area and there’s good demand for properties an auction is the way to go,” Li says.
Competitive bidding can boost the price that the property achieves, pushing buyers to spend the maximum amount they can, or risk losing the auction to another more committed bidder.
Auctions also create a sense of urgency among buyers with auction day acting as a deadline by which they must make a decision on the property. In a private treaty sale, the process may be more drawn out.
The seller in an auction is protected by the reserve price, which means the property will not sell unless the pre-agreed level is reached.
After the hammer falls, the sale is final and unconditional. This allows the vendor to set specific sale terms, such as the settlement date, and prevents a buyer from backing out after the deal has been agreed. This is typically a benefit to sellers but it can limit the number of potential buyers as some people wish to purchase subject to finance, which is not an option with an auction.
Another potential downside of an auction is that engaging a specialist auctioneer comes with an additional cost, but if the campaign and auction are run well, the extra cost may be recouped through a higher sales price.
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Agent profile: Harry Li - what it takes to be a top auctioneer

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Our clients Lorraine and Steven live in Sydney and are active property investors.
Both are very busy professionals with a young family. Steven is a medical specialist and on call all hours of the night and Lorraine a solicitor with a young toddler. 
We located a dual occupancy site for them in the City of Maitland in the Lower Hunter Region of NSW.  The official population of Maitland City as of the 30 June 2013, is 73,447. It has grown <a href="https://profile.id.com.au/maitland/population-estimate" target="_blank">by 2.16% over the past year</a>. 
<img src="/images/2014/11/14/IMG_3845.JPG" alt="">
Maitland City is a solid area to develop in as we've been working there for over nine years and seen the population steadily rising and announcements of large infrastructure projects mean there is good investment being made by the government. NSW Planning have Maitland's annual growth rate projected to be the highest in metropolitan areas outside of Sydney.
As part of our research process, after pinpointing a city or town to develop in, we then drill down into suburb data. We look at median price history and trends and availability of land and housing. Our research with local agents confirms the type of housing in demand and we check for low vacancy rates. We then look for development site locations that are close to infrastructure such as good schools, shopping centres, public transport and quick access to Newcastle and to the M1 to Sydney.
<img src="/images/2014/11/14/IMG_3840.JPG" alt="">
We were offered Lorraine and Steven's development site off market through one of our land developers and quickly moved to secure it for our clients. The dual occupancy project was completed within 12 months of settlement on the land.
Here are the details:
<ul>
<li>890 square metre development site; land cost: $210,000 </li>
<li>Stamp duty &amp; legal costs: $2,285 </li>
<li>
($5,000 <a href="https://www.osr.nsw.gov.au/lib/doc/factsheets/ofs_nhg1.pdf" target="_blank" style="line-height: 1.3em;">NSW New Home Grant</a> applied. The government contributes $5,000 to offset stamp duty) 
</li>
<li>Construction cost for two freestanding, three bedroom, two bathroom, DLUG villas, includes Torrens title subdivision all design and council fees and charges: $460,627 </li>
<li>Total cost: $672,912 </li>
<li>The villas were valued on completion of the project at: $390,000 each. Total end values for both villas: $780,000. </li>
<li>Equity created: $107,782 
</li>
<li>
Gross yield after villas were rented at $400 per week each: 6.2% 
</li>
</ul>
<img src="/images/2014/11/14/IMG_3807.JPG" alt="">
If you are borrowing at around 4.5% then a development project like this 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.
The other big benefit on a dual occupancy project is the depreciation benefits. On the above case study depreciation came in around $21,000 year one (using the diminishing method).
<img src="/images/2014/11/14/IMG_3780.JPG" alt="">
What Lorraine and Steven got out of using our service is the experience of being a property developer without having to deal with all the fine details and issues. Our weekly update reports act as a handy reference guide for clients to use when/if they have time to manage their next project themselves. Our role is to bring in the projects as quickly and efficiently as possible. Our long standing relationships with builders and contractors, land developers and agents allow us to pass on discounts and exclusive offers to our clients.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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How a dual occupancy development can work out cash positive: A real life case study

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GUEST OBSERVATION
<a href="/expert-insights/investing/do-you-have-what-it-takes-for-a-career-in-real-estate">I recently wrote a piece</a> containing several questions which those considering a career in real estate might ask themselves before taking the plunge. Below are the final two questions on this topic.
Do I possess the following personality traits?
<ul>
<li>Honesty and integrity – your professional reputation is crucial to a long and successful career in real estate. </li>
<li>
Tenacity – being a high-performing real estate agent requires a great work ethic. You must have the tenacity to pursue every lead, and the hustle to aggressively market your clients’ properties in order to have success. It’s not just about putting in a lot of time — it’s about working smart and putting in the right amount of time, while doing whatever is necessary to close the deal. 
</li>
<li>Problem solving mindset – do you enjoy coming up with creative solutions to problems or issues? Many successful real estate agents know how to properly showcase a house to make it more marketable to attract the right buyers, and this often requires a bit of creativity or quick thinking. </li>
<li>Interest in houses and architecture – having a true interest in houses and architecture can give you an advantage over other salespersons. If your knowledge and interest level is apparent in conversations, your clients will be more likely to be drawn to you. </li>
<li>Attention to detail – paying close attention to the detail is imperative for your real estate career. A complete real estate agent is attentive to the unique needs of their individual clients. If you are organized, follow up with leads, communicate well, and pay attention to the needs of your clients, you are almost guaranteed to close more deals.</li>
</ul>
Where do I want to be in one, three and five years’ time? 
Success in real estate takes time and the right kind of training from experienced, knowledgeable people. It requires that you take a long-term view, and are able to sustain both patience and passion. Remember that there are a large number of real estate agents out there, making it a highly competitive industry. Many people will either sink or swim, so work out which one you will end up being! 
This can be helped by setting one, three and five year goals.
Your first year goal might include starting out in the area you want to eventually be the area specialist of. It’s a long-term business so your short-term goals will have a great impact on your long-term goals.
Over the mid-term, you’ll need to work hard on understanding the local housing market better than any of the competitors.  A top producing real estate agent appreciates and utilizes the nuances that make a specific community’s housing market and pricing strategy unique, and success comes from identifying and developing a focus or niche in the local real estate market that allows you to distinguish yourself from the competition.
Successful real estate agents also have a vast network of contacts within the market they serve – potential sellers and buyers, conveyancers/solicitors, building inspectors, tradespeople, mortgage brokers, shop owners, school communities, the list goes on. A three year goal might be to have built up a network of a certain number of contacts within each of these categories. Invest time and effort into making yourself known in the area and becoming a trusted advisor; build your database of contacts and build your brand year by year. It only gets easier as you build your reputation.
In the longer term, knowledge will be power, so throughout these earlier years, be a sponge and soak up all the knowledge you can by surrounding yourself with experts in areas you wish to become an expert yourself. If you can, find yourself a mentor and assist them in any way possible in order to get access to their thoughts and the processes they follow day-to-day.
A mentor who will guide you along and share wisdom and insights about the industry to help drive your career will be invaluable in helping you to. Finding a mentor is not an easy task, but may occur organically after investing those initial years in immersing yourself in the industry and learning from those around you.
And if I answered yes to all of these questions?
Real estate can be a very rewarding career choice for just about anyone. Though it is affected greatly by the economy, people will always need a place to live, and many will want to own their own home. These people typically like to have access to the advice of someone trustworthy and knowledgeable helping them through the process.
If you treat it as a profession, and not a job, you can make more than $100,000 in your first year. Set a realistic goal each year and make it happen!
A career in real estate grants you the opportunity to grow personally and professionally, and a chance to work with great people helping home owners or buyers at critical times in their lives. Don’t be fooled – it’s never going to be all fun and games, but it can still be very rewarding.
Real estate is all about constantly bettering yourself, your marketing skills, and your negotiation skills. Continuing education and professional development are doors to opportunity that you can utilize to expand your business options and stay at the forefront of the real estate field.
You will know when your mind shifts from doing a job in real estate to being a business person. Your confidence will grow and you will be unstoppable!
STEPHANIE HEARNE has been awarded <a href="https://www.century21.com/" target="_blank">Century 21</a>’s top Australian salesperson for the past three consecutive years.
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Do you have what it takes for a career in real estate? - Part two

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GUEST OBSERVATION
Real estate can be a highly rewarding career choice, and may appear tempting to outsiders. People can be drawn to real estate as they may see agents who drive a nice car and dress well, and may have the perception that anyone can sell a house – looks easy, right?
The real estate industry is a dynamic, growing industry; it’s fast paced and can be great fun. It can also pay well for those who are skilled at their jobs and put in the hard yards.
However, a career in real estate can also be very challenging, and it’s certainly not for everyone. Below are several questions I believe you should ask yourself before jumping headfirst into the industry.
Do you have a belief in yourself and do you enjoy dealing with people?
A good real estate agent doesn’t just sell properties — they sell themselves. It’s important to have a strong sense of “self” and show your true personality. Much of a real estate agent’s time is spent socializing, meeting people and building relationships, so you have to enjoy dealing with all kinds of people, all of the time.
The job can be whatever you make of it. People will respond to you if you have a great attitude, are personable and have confidence in your abilities. This is primarily a service business, and serving your clients will contribute to your success. To do this you have to back yourself and be passionate about your role. You need to be a “people person” (or else you will feel like you’re working 10 times harder than you are!) and you need to constantly dedicate yourself to others, following up with clients again and again.
If a client calls, can you drop everything and be attentive to their needs? Real estate is more like a lifestyle than a job.
Do you thrive on hard work that is highly rewarding but rarely slow-moving?
Real estate agents receive genuine satisfaction from helping clients find the perfect home or sell their property at a great price. This is an exciting time for both buyers and sellers, and they look to the real estate agent as the expert to help them manage their way through the process, constantly demanding excellent client service.
However, going through these real estate transactions is generally one of the most stressful times of a client’s life, and you will need to be confident in your skills and abilities when things don’t go as planned. If a client is unhappy, whether it was due to your efforts or not, word-of-mouth spreads quickly and can affect your referral business and, ultimately, whether you succeed.
Real estate agents generally set a day-to-day work schedule but they need to be ready for this schedule to change at a drop of the hat if it is what’s needed to accommodate their clients’ needs. Every day and every hour can also be vastly different, which keeps it exciting and stimulating but isn’t everyone’s cup of tea!
In the end, real estate is about building relationships and providing value — not about selling or buying houses. Homes carry memories and emotional attachments. These are critical emotions for people. It helps to be sensitive and considerate in among all of the activity and if you’re honest, ethical, professional, and determined, you’ll have all the necessary tools to do well in real estate.
It takes a huge amount of hard work, but can be hugely rewarding and never dull.
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Are you self-motivated and business-driven?
Having a desire to control your own professional destiny and be your own boss is a trait shared by top real estate professionals. To be successful in real estate requires a high degree of self-motivation and smart decision making because as a real estate salesperson, your income is largely dictated by the time you invest and the decisions you make.
I always advise those seriously considering a career in real estate to ask themselves: “Do I have enough savings to tide me over for my first year in real estate?”
The growth potential can be huge but to start out, as in when starting any business, your cash flow can be rather depressing as you learn the ropes, do lots of training, get on the phone for days in/days out, pound the pavement, and the like.
Getting your first sales to come in will take time, and it will likely be a year or more before you start to really enjoy your new career. This is why you must be self-motivated, you must have the drive to succeed and you must exude professionalism despite all the hard work to be successful.
You also need to be enthusiastic and have the right attitude that will draw people to you. You have your own business/personal brand within a business and you make the decisions. You are in charge of building your lead list, maintaining your client’s needs, networking relationships, marketing your business, and managing the day-to-day office needs. It’s all in your hands.
Many new agents fail to recognize how much work it takes to become a successful real estate agent. Couple together hard work, a good attitude and solid work ethic, and there are virtually no limits for the growth of your real estate business. Company principles look for motivated people and you must be motivated to succeed. You are building your business and your own personal brand and you need to work at this every day.
No-one can motivate you but yourself.
Stephanie Hearne has been awarded <a href="https://www.century21.com/" target="_blank">Century 21</a>’s top Australian salesperson for the past three consecutive years.
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Do you have what it takes for a career in real estate?

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We just finished a great little duplex project for a client. The site was in an older suburb and had a derelict house on it and it came with some challenges.

When you are looking at a knockdown, it's important to factor in a few things. One of the biggest of course is the demolition costs.  These can range dramatically in cost.

As we had time whilst waiting for the DA to be processed, I ended up getting no less than seven quotes. The old house was full of asbestos of course so that was factored into each quote and there was a big garage slab to be removed.

The highest quote I got was $22,000 and the lowest was $13,000. This was a contractor who actually recycled a lot of the materials, on selling them and was therefore cheaper.  

[smartcode_project:default project_id=3783]

Lesson number one, it is worth the efforts of getting lots of quotes.

The cost of the site was $160,000 (negotiated down from $180,000) plus demolition costs bought it up to $173,000. This was a nice big 876 square metre block of land located close to the school and a good price to pay for a dual occupancy site. It had a 20 metre frontage but there was no kerb and guttering to the front of the house, just a gravel shoulder. 

The site had a slight fall to the rear and we planned to build up the site to drain to the street. But council had other ideas and one of the conditions of our DA consent was to drain to the rear where there was a gravel laneway.

The problem was that there were no drains in the laneway and we had to install a dish drain to direct the water to the nearest cross street, which was pretty ridiculous considering there was no drain there either.

Lesson number two, look for land that has establish drainage in the street, preferably with kerb and guttering.  

The next hurdle we found building in an old suburb was the water and sewer infrastructure was aged.

We were asked to install a new water service which included boring under the road to pick up the main for the water service and install a new junction as per the minor works contract issued by the local water board.

This added about $7,000 to the development costs effectively wiping out most of our $9,000 saving on the house demolition.  

Lesson number three, make allowances for infrastructure upgrades. These are not required in new land estates.

The good news for this development was that the villas were in high demand, being in an older suburb where there was very little new housing. Typical dwellings consisted of 80 year old miners cottages with a sprinkling of 1950s brick homes.

All through the construction phase I had people phoning me wanting to rent them or buy them. Our client was building to hold and so as we neared completion, I was able to have both villas leased for our client before handover.

We have a great relationship with our builder and they allow us to hold open houses and show through prospects before handover which is invaluable and means cashflow from the moment the final builder's drawdown is paid.

This little duplex project ended up costing $570,000 including land and construction costs to build two three-bedroom attached villas (a duplex).  Both were rented for $350 per week, giving a gross yield of 6.4%.  There was some equity created as well with the villas worth about $320,000 each.

There are advantages and disadvantages of a knock down rebuild project. It's important to get the land cheap enough to compensate for any additional issues that may arise due to the older area.

<img alt="" src="/images/2014/10/31/chivers%20oct%2031%20one.png">

<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Three lessons from a knock down rebuild project

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GUEST OBSERVATION
Recently I received a frantic phone call from a client to whom I was introduced to four weeks ago and who asked me "What’s wrong with just going to the bank I have been with for years?"
When I met this client Andrew (name has been changed) we explained to him that not all banks are the same, they all have different credit policies and lending criteria. Andrew though was convinced his personal banker at his local branch would be able to help him.
So why was Andrew calling me?
Well it seems that Andrew had decided to really dive in at the deep end and purchase a block of six units for just over $1.5 million, with plans to renovate and strata each individual unit.
This sounded great. Based on Andrews numbers by spending around $180,000 he would be increasing the value of his asset by somewhere between $50,000 to $100,000 per unit. And since they could now be sold off individually in the future he had an asset that was much easier to sell if he needed to.
When I met with Andrew originally though, his plan was simply to rent out the newly renovated properties and based on fixing his interest rate of 5% for five years. With a rental return of just over 5% he was hoping to be in an almost cash flow neutral position. In addition with the new equity, which he could access, he would be able to purchase another investment and would be well on his way to having a great property portfolio.
Well Andrew had just received his loan offers from his bank and what his personal banker had failed to tell him was that his bank was treating the application as a commercial application. That meant a valuation fee that was closer to $3,000 than the $900 he was expecting and legal and application fees that totaled almost $12,000. Worst of all his interest rate would jump to nearly 7%. Oh and the lender would only lend at a loan to value ratio (LVR) of 70%.
All of a sudden Andrew’s investment looked like requiring over $33,000 a year in extra income to support the loan. This property had gone from looking like a great opportunity to a drain on his finances.
What could be done?
Firstly, we found a lender who was happy to treat the loan as a standard residential lend. That meant more modest valuation costs.
There was some bad news though. To protect their interest the lender would only lend 70%, while the six units where not strata registered.
But the good news was they would offer him a one year fixed interest rate of 4.79%. This year would give him the opportunity to arrange the strata and renovations and the lender was willing to offer to revalue the property at the end of the year to capture any equity and take the loan up to an 80% lend.
Andrew's story is typical of many of the clients we meet and who call us. Often the last thing thought about is what effect the lending will have on the investment.
Albertus Waldron is a partner at Chan &amp; Naylor. For a free portfolio review or guidance on which lenders might be right for you, you can contact <a href="https://www.chan-naylor.com.au/contact/" target="_blank">Chan &amp; Naylor</a>. 
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What’s wrong with just going to the bank I have been with for years?

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I set off at 6.15am this morning for my development site inspections. It's a two hour drive from Sydney to the Hunter Region where Property Bloom develops property for our clients. 
After my first four inspections I stopped to eat my packed lunch and found myself reflecting on just how lucky I was. I didn't feel like I was working, not like the way I worked all through my 20s and  30s. That was fierce, career ladder climbing type of work where you had to continually be proving yourself and dealing with office politics. Very stressful but that's what we had been taught to do. Work hard and earn your success.  
Since starting my own property development project management service over 12 years ago, I have actually been living my dream. I do what I love and it's flexible for my family. But it wasn't all beer and skittles. There is the unknown you need to contest with when starting your own business. Forget about the safety net of a salary, no holiday pay and no superannuation contributions covered by others. You are literally on your own and it's sink or swim.
My personal motivation to make it work was my kids and our future. I didn't want to be in a situation like my parents with no savings and relying on the government pension to live. It's sad to work hard all your life and then be at the mercy of others.
My goal is to build enough wealth to support my family, have a bloody good time doing so and retire young. But, as I'm doing what I love, retirement is not going to be any time soon.
Over time, I've developed a system that means my business can run efficiently without my daily direction because I have built up trustworthy relationships and have great staff.  I am focussed on refining our property development process and to become more and more efficient in our development management.
Today during an interview with a well regarded, national financial newspaper I was asked - "why develop property?"
"Why wouldn't you?" is what I wanted to say, but then I remembered that whilst most property investors understand that buy and hold is a good idea, to buy, add value and hold is an even better investment strategy. Adding value doesn't have to mean spending money immediately.
I explained to the journalist that as a starting point, be mindful that when you buy an investment, look for property that can be developed either now or down the track. You may find two properties with similar price points but one could have superior development potential. It might have a larger land component, it may have subdivision potential, it may have opportunity to improve the floor plan within the same area and it may have some good growth potential based on future government plans, infrastructure upgrades and potential policy changes. 
Developing property just makes sense. There are so many different development strategies you can use and that's the fun bit, working out what the best strategy is for you. 
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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