Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

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Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

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Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Jo Chivers

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One of the most common questions I am asked these days comes from investors looking to use their self-managed super funds (SMSF) to invest and develop property.
It's no surprise that people who've had good experience with property investing want to apply the same strategy and take control of their superannuation investments.  But it's not as easy as it seems and you need to be clear on what tactics are permissible when investing money from your SMSF. You also need good, qualified advice.
I have to say I find it a little hard to stay on top of what you can and can't do with a SMSF.
When we recently started working with our new client Adam Mondy of <a href="https://www.mondyfinancial.com.au/" target="_blank">Mondy Financial Services</a>. I was delighted to hear that he was a financial planner who specialises in SMSFs. So I asked Adam if he wouldn't mind setting us straight on what we can and can't do with a SMSF.
Below are Adam's words of wisdom:
THE SMSF Developments
It sounds like a new movie release, but the SMSF world can be just as exciting and just as scary.
The Australian Tax Office are suggesting that 30,000 new SMSFs are opening each year, which is a lot of people wanting to be in complete control (or at least have the perception of control) over their retirement fortunes.
Investments in a SMSF
Any investment you can make in your current super fund or personal name you can make in an SMSF. Although if you are looking to boost your collection of fine wines and buy a few bottles of Grange Hermitage or perhaps add to your art collection with a Pro Hart, then that's a topic for a another time. Whilst it can be none, it's far more complicated.
You can invest in shares, term deposits, bonds, real estate trusts but a major drawcard and what has become very popular, is property.
Borrowing to Buy Property in your SMSF
The fact that you can take your super, borrow some funds from a bank and then buy a property that you may pay off in 15 - 20 years (yes slightly different than your traditional property strategy) using some or all of your superannuation guarantee payments, is a powerful strategy. Not a perfect, well diversified, sure fire guaranteed strategy, but nevertheless a powerful one based on past property prices. Basically if you are comfortable with gearing (using somebody else’s money, at a cost, to help build your future funds) using SMSF may suit you.
The standard method is to obtain a special loan from a normal banking institution, combining these funds and you can purchase any type of property. The ATO has very strict rules on “whom” you can purchase from and “who” can use these properties but any property type is fine.
The interesting thing about these loans is you cannot change the fundamental character of the property while the loan is on foot. For example, land cannot be purchased and then developed while a loan is attached. You could purchase a house and land package or an “off the plan unit” but there could be no ownership transfer under the package until the home/unit build was completed. The fundamental change being from vacant land to residential property.
On the other hand it is possible to make improvements to property, whilst the loan is on foot, so long as:
a) The improvements are not so extensive that they result in a change of the fundamental character of the property. Renovations to an existing residential property would generally be acceptable;
b) The improvements are not funded from borrowed monies, In other words the fund uses its own funds to make improvements to the property.
Can you develop property in a SMSF?
Many people think that you cannot develop in the SMSF environment. This is not correct. You can set up special trusts within the SMSF environment that allow you to use borrowed (by the SMSF) funds, develop property, subdivide, buy/sell, build a granny flat, or any property strategy you can think of. These trusts will even allow other investors, other SMSFs or you personally to invest with your SMSF to undertake a development.
The major catch, other than it is highly regulated, complicated and can be costly, is that you need to have the funds outside of the specific property you are developing. You cannot borrow against the property you are developing, as would be the “norm” in a traditional development. If you have access to funds, are able to borrow against other assets and/or have other parties involved, this scenario may be beneficial.
Using your own funds i.e. not borrowing
Basically you can do what you like with your own super funds in relation to property when borrowing is not undertaken. As long as the ATO rules of purchasing and “use” of the property are satisfied then any purchase, development, construction, subdivision or investment can be undertaken.
Your future self?
Whilst using your SMSF to invest in property has become common, you should consider that property is illiquid and may not produce the returns it has in the past. So it's important to do your due diligence carefully. In addition to this many property investors are committed to property over other investments, meaning there is little diversification across their portfolio. However, using different strategies such property development where you are adding value and creating equity through the process, can be a good way of building up the value of your SMSF faster than waiting on capital growth.
With any investment the return you receive should attempt to reflect the potential risk you are undertaking. Don’t forget in this instance we are talking about your future retirement funds, so you not only need to justify this strategy to your advisers, to your auditor and to the ATO but most importantly to your future self and family, so tread carefully.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

Can I develop property using my SMSF? Jo Chivers

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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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Generally, in a builder's tender/quote, you will see some items marked at 'provisional'.
This means an estimate has been calculated and included. This sum is an allowance for an element of work that is not yet able to be calculated accurately or fixed in price.
On a provisional item, you will pay the actual cost, whether it be more or less than the amount allowed for.
A good example is the sub concrete slab piering.  A slab needs to be supported by piers below the ground to prevent movement and increase its strength.
<img src="/images/2015/04/10/pier%20holes.JPG" alt="">
A soil test or geotechnical report is completed on the development site. This will determine the soil type and show the depth that had to reached before solid ground was reached.  There is usually about three or four holes drilled over the area where the slab will be located.
<img src="/images/2015/04/10/filling%20pier%20holes%20with%20concrete.JPG" alt="">
The engineer uses the data from the geotechnical report to design the slab. The slab plan will show the number of piers required to structurally support the slab and their location.
As part of the slab preparation works, the concreter will drill each pier hole and then fill it with concrete.  Each hole may vary slightly or considerably depending on what is beneath the surface and how far they've needed to drill.
<img src="/images/2015/04/10/completed%20piers.JPG" alt="">
The cost for the concrete piering is based on the volume of concrete required to fill the holes. The builder won't know this until the concreter issues his invoice or reports this information to the builder from site.
As part of the builder's contract amount, an estimate or provisional sum is used by the builder.  In Property Bloom's experience, our builder almost always over estimates the amount required. This is a good safety net technique to ensure that there are no nasty surprises and additional funding required. We love to report back to our clients that they have received a credit on this provisional amount.
It's easy to cross check so you know what the actual cost was. Just ask your builder for a copy of their concreters invoice, add the builder's margin to this and you'll be able to see the exact cost of the piering.
Most provisional allowances are around the initial site works. Once your site is cut, site works, retaining walls and slabs are laid, then the rest of the construction works are far easier for the builder to calculate and can be included as fixed costs.
www.propertybloom.com.au
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Planning for your provisional allowances: Jo Chivers

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My last Saturday was spent by securing development sites in a new land release, then meeting with a potential new client, followed by working on the lolly stall at my son's school fete and then finally casting my vote.
In New South Wales, we had a state election and the Liberals won.
I was happy with this result. Now they say never to discuss politics or religion at a party, but there's no mention of what to include in a blog.  Look, I'm not very politically minded and I know there are great things that other parties stand for. I was interested to see a party by the name of No Land Tax, that tickled my fancy and I believe they got a fair whack of votes. But I have to say, when the Libs are in it usually means that some big infrastructure funding will take place.
And this is what I'm most interested in.
Infrastructure spend is music to the ears of property developers and investors. It means money will be ploughed into the local communities. The benefits of large infrastructure projects such as road upgrades or new hospitals, means local employment is boosted and workers are attracted to the area, boosting rental demand. These workers spend money and so we see a flow on effect into retail sales as the works are undertaken.
For example, in Maitland City, one of the locations in the Lower Hunter Region that Property Bloom develops in, there was a nice list of government spending confirmed. These planned infrastructure investments were confirmed after the election and include a $7 million investment in a the New England Highway upgrade, one public school will receive a $5 million upgrade and another $1 million; Maitland PCYC will receive $1 million expansion to support youth activities. There will also be $25 million spent on planning for the new Maitland hospital and $3.8 million for a new ambulance station.
These announcements are all good indicators that the city is dynamic and there are solid plans for future growth. It may also indicate that it's a good place to buy or build an investment property. Of course you need to do your due diligence to ensure you are investing in the right suburbs that will enjoy the impact of these works and where there is good demand for rental properties, but that's not a hard thing to do.
When the Sydney market is over inflated, it seems like a no brainer to turn to these large regional cities as an affordable alternative.
When this kind of money is invested into a community it has a trickledown effect. It builds business confidence and encourages other investment spending.
So after Saturday, this city is celebrating the good news. So are our clients who have invested and developed property in the area. We are happy that we've completed a number of development projects in this location and have just been notified of some new development opportunities.
Wishing you all a happy and safe Easter break.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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Why the NSW Liberals win is good news for property developers and investors: Jo Chivers

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This week we did a little back flip on a development project and I thought I'd talk about what to do when things don't necessarily go your way.
We found a wonderful property for our clients well located right in the CBD of a town.  The project would eventually end up as a three unit development which would include the existing house. Our plans are to renovate the house (which we have now completed) and build a duplex (two attached dwellings) behind the house. It's termed 'three unit' by council as when you lodge your development application (DA) they assess the house as one of the units.
We had a few options to explore on this before we lodged our DA. The property backed onto a laneway which for all purposes is used as a road. It's bitumen sealed with kerbing and used mainly by retailers for deliveries and to access the shopping centre nearby.
We met with council with the proposal to face the duplex to the laneway and have direct vehicle access onto the laneway considering it's condition. Mostly laneways in this suburb are gravel tracks unsealed with no kerbing or drainage.
A few weeks after an over the counter meeting at council, we finally received feedback from the town planner we'd met with. She explained that council probably would not support vehicle access to the laneway as they didn't want to set a precedent. Whilst disappointing, we switched to our back- up plan of a 'battleaxe' style development with vehicle access from the road. This is more costly due to the long driveway. There were also added  costs to fill and retain the rear of the site to get the right fall for the stormwater to drain to the street.
We lodged the DA and received a letter from the planner requesting some ridiculous changes around our stormwater drainage. Without going into all the detail, it would have a big impact on costs.
I pondered over this for a few days, we can argue and fight but thinking about this particular site and its location and my client's goals which are to build their investment portfolio and create as much equity as possible in the process.
I set up a meeting with our clients to present an idea I had. Our DA is still in council, but I wanted to present another development strategy to them. The strategy included withdrawing the DA and building a granny flat on their property. The granny flat tenants are allowed to use the laneway for access and so we could have it completed quickly - within three months - and their yield would be increased. Then, to replace the equity creation that the three unit project was to deliver, I presented a dual occupancy project to them on land we'd just located. This project would actually create more equity than we estimated the three unit project would for them.
They were happy to change tact. But we are still investigating whether we complete the DA and then they sell the property in a few years time with a DA approval in place or whether they proceed with the granny flat construction. Either may have good outcomes for them.
So when an unexpected hurdle pops up, it's important to investigate other options and not just stay with the original plan for the sake of it. By looking at a different project to deliver one of their goals we are still fulfilling the goal of building a portfolio. There can be many hurdles to jump as property developers but sometimes investigating a different path is better than trying to jump a hurdle that keeps moving.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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What to do when a development doesn't go to plan: Jo Chivers

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This week I experienced the hot Sydney property market from two different perspectives. The first perspective was from a friend buying her first home and the second from a friend selling one of her investment properties.
I'll start with my first home buyer friend who with her husband have a budget of around $750,000 and on Sydney's northern beaches this should buy them a two bedroom apartment. It wasn't that long ago that they'd get a small house for this budget but now we are seeing many median prices reach and exceed the magic million dollars. In the Hunter $750,000 would buy them a fabulous mansion or Property Bloom could build them two x three bedroom villas, but they want to live in Sydney.
They've attended several auctions and  seen sales achieved well over the agent's price guides. So they switched to only looking at properties for sale by private treaty. But alas, they are coming up against a similar situation.
My friend asked if I'd inspect a two bedroom apartment that she'd found and had her heart set on. It was a good apartment, two bedroom, two bathroom with a double garage, one with security caging, about 12 years old. It was the second open house and there were about 20 people inspecting when we went through. The property was advertised at 'offers over $690,000'. I did a little research and saw what the vendors had purchased for and found a comparable sale within the complex about four months prior. The sale was at $690,000. So of course the vendor wanted more. Much more we would soon find out.
The agent said the vendor would sell that day and the procedure was to go into the agent's office, write your offer on the front page of the contract and be prepared to exchange contracts if the vendor accepts your offer. They would have a five day cooling off period and pay .25% of the purchase price which is non-refundable. The cooling off period gives you time to complete a strata search, pest and building report and have the contract reviewed in detail by your solicitor or conveyancer.
The agent also explained they'd have a chance to increase their offer if there was a higher one. After the written offers were in, the highest purchasers were contacted by the agent to ask for an increase. My friend's offer was $720,000 and then a bidding war started and ran until 11pm that night when she and her husband bowed out at $780,000. Their budget was $750,000 and so it was lucky they missed out and shows what can happen when emotional buying is at play. The property sold for $785,000 or $95,000 more than the 'offers over' advertised price.
She was of course disappointed but more frustrated than anything else. Being a part of her journey gave me an insight into what owner occupier buyers are going through right now. They want to buy a place to live in and make their home but they are constantly missing out. This is causing people to push their offers higher that perhaps they should and perhaps they can afford.
My second insight came last night as a friend took her three bedroom apartment, an investment property she'd held a while in the inner city, to auction.  We'd spoken earlier in the week and she had decided on a price she wanted to achieve. I thought it was pretty fair considering the location and size of her property, it would appeal to those who couldn't afford a house.
The afternoon of the action she told me her 'expectations had been managed down' by the agent. She'd set her reserve a lot lower than what she actually wanted to sell for and what her research had told her the property was probably worth. She was losing some of her confidence.
She needn't have worried as her property sold within 5% of what she'd originally wanted yet 20% above the agent's recommended reserve price. So why did they want to set the reserve so low?  Was this the range they were quoting to potential buyers, a marketing ploy to attract buyers with lower budgets? Or just a safety net for themselves to ensure it sold at auction and then they could boast that their sale achieved 20% over the reserve?
What do these selling strategies achieve?  Confusion.
In both instances we have buyers trying to work out if a property is within their price range and whether to waste time and emotional energy on pursuing it.
I understand that the agent wants to target the widest market by underquoting or under listing but my first home buyer friend said "Jo, I wish they'd just tell us what they want for the property!"
My seller friend said "I just want to tell them what I want for my property!"  Maybe if she had of done this, she may have achieved another 5% by letting the market know? Nonetheless, she is happy with the result.
<img src="/images/2015/03/20/property_bloom_hi_res%20crop.jpg" alt="">
Whilst I don't understand some tactics, one thing I know for sure is that it's not a good time to be buying property in Sydney unless you absolutely have to. We have reached 'midnight' on the property cycle clock. We're seeing rents coming back as more renters convert to buyers due to the low interest rates and more apartment towers and new land is released.  
It reminds me of a game we played as kids....What's the time Mr Wolf?  How soon will we see an oversupply?  One o'clock?  Two o'clock? Only time will tell.
If you are an investor, look for markets that are still at or below the nine o'clock mark.  Ask me, I know a few.
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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What's the Time Mr Wolf? Sydney's property clock has struck midnight: Jo Chivers

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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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Jo Chivers

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