Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

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The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

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Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

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Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

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Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

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The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

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The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

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North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

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McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

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A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

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Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

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Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

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More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

John Mcgrath

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Not too much has been happening at the top end of Sydney’s market, estate agent John McGrath candidly advised last week.
But things could be about to change, he suggests joining the long queue of forecasts following the global financial crisis that took a swath through toppy prices across Sydney.
"I’m betting the prestige market will perform very well in 2015, thanks to increasing money coming in from overseas, the continued strengthening of the financial services and banking sectors, returning ex-pats, and the declining Australian dollar," he summed up.
Anecdotal evidence can be seen in sales data, with McGrath Mosman, on Sydney’s Lower North Shore, recording $60.3 million in sales in December last year, a 167% increase when compared to December 2013.
He widens his blue-chip popularity prospects - especially with wealthy Chinese buyers - to Sydney's eastern suburbs. 
"Chinese interest in Australian property remains high but the next big trend is going to be India. 
"Like China, it has a rising middle class and trade is increasing between our two countries," he noted on his Switzer blog. 
One in five migrants entering Australia in FY13 were from India, according to the Department of Immigration; and private business investment from India has actually increased at a faster rate than China. (
"It is up 75.8% 2008-2013 compared to China 41.7%," McGrath indicated.
McGrath's migration outlook is a little more bullish than Macquarie Wealth Management research which suggest after a stellar run up, there are some early signs of moderation in net overseas migration, with the latest figures easing slightly back to an annual pace of 231,500, down 3% from its mid-2013 peak.
Macquarie noted the pace of migration remains high by historical standards, being 74% above the 30-year trend of around 133,000.
"These firm levels of net overseas migration continue to be the dominant driver of demand, as newly arrived immigrants tend to have more urgent housing needs than other forms of population growth, such as a new birth," Macquarie noted.
While 2014 saw more transactions, there was no noticeable price growth, McGrath conceded. Records show the group sold 27 properties above $7 million in 2014, or 42 properties above $6 million.  
In 2013, the group sold 18 properties above $7 million, or 34 properties above $6 million.
"An increase in transactions is always a positive sign that growth is on the way." 
Property Observer notes the two recent Point Piper listings that come after a busy year last year, and a $28 million sale already this year.
David Trew, the former Australian chief executive of CFD providers CMC Markets and City Index, has put his <a href="https://www.domain.com.au/property/for-sale/house/nsw/point-piper/?adid=2011485536&amp;sp=2" target="_blank">harbour front trophy home up for sale</a>. The three-level 1920s Hardy Wilson-designed cosy cove home was bought by Trew’s wife paid $25 million on Wolseley Road in 2009. It has been listed by Elliott Placks, of Ray White, who has been telling inspectees that there had been five sales above $30 million in Point Piper in the past year.
The one with gun barrel views is by McWilliam family who have listed <a href="https://www.domain.com.au/property/for-sale/house/nsw/point-piper/?adid=2011755677&amp;sp=1" target="_blank">their hillside offering through Brad Pillinger</a> (pictured above), seemingly with plans to move elsewhere on the peninsula.
In late December 2014, RP Data released a report showing the highest median value suburbs in every capital city for the year to September 2014. These are the prestige markets where the big money was being spent last year. 
Here are the top three suburbs in each state and territory for median house prices in 2014.  
Sydney 
1. Centennial Park - $5.494 million
2. Point Piper - $5.427 million
3. Elizabeth Bay - $4.834 million
Melbourne 
1. Toorak - $2.922 million
2. Kooyong - $2.104 million
3. Canterbury - $2.100 million
Brisbane 
1. Teneriffe - $1.520 million
2. New Farm - $1.259 million
3. Ascot - $1.235 million
Canberra 
1. Forrest - $2.151 million
2. Red Hill - $1.372 million
3. Yarralumla - $1.320 million
Perth 
1. Peppermint Grove - $3.741 million
2. Dalkeith - $2.551 million
3. Cottesloe - $1.867 million 
Adelaide 
1. Springfield - $1.642 million
2. Medindie - $1.486 million
3. College Park - $1.476 million 
Hobart 
1. Battery Point - $818,000
2. Sandy Bay - $659,000
3. Tolmans Hill - $622,000
Darwin 
1. Larrakeyah - $1.289 million
2. Fannie Bay - $1.125 million
3. Bayview - $1.089 million 
Source: RP Data 
"When activity in prestige property increases, it bodes well for the whole market," he concluded.
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Betting on a prestige market price recovery: John McGrath

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John McGrath has always been passionate about the property prospects of Sydney's inner ring suburbs.
But last week he went a little further saying suburbs close to the city are becoming so desirable that they will be "hot forever".
The high profile agent stopped short of declaring inner city property prices were immune from price falls.
But the chief executive of McGrath Estate Agents told Fairfax Media these areas would always be attractive to buyers. 
"There is just no end of demand from overseas and local buyers who want to live in those precincts," McGrath said.
McGrath pointed to their proximity to the city, beaches and lifestyle amenities such as art galleries and restaurants.
Interest in the topic was illustrated on the trendolizer<a href="https://australia.trendolizer.com/2015/01/sydney-inner-ring-property-may-be-hot-forever-says-john-mcgrath" target="_blank"> trend </a><a href="https://australia.trendolizer.com/2015/01/sydney-inner-ring-property-may-be-hot-forever-says-john-mcgrath" target="_blank">graph</a>.
"There is sometimes a very minor [price] correction for a small amount of time but generally speaking Sydney is becoming a New York," McGrath suggested.
"It's a big international city and people want to live in it ... and there's very limited stock available. It's always going to be blue-chip and a market leader."
The commentary came with a caveat as McGrath tips price growth in the inner ring will actually lag other suburbs in 2015 because much of it had already "outperformed" other areas in 2013 and 2014.
Bill Randolph, director of the City Futures Research Centre at the University of NSW, warned over-densifying the inner circle will make the suburbs less desirable.
AMP Capital chief economist Shane Oliver the inner ring was affected by "interest rate cycles, recessions, building booms and busts", but felt the impact tended to be far less than the outer suburbs.
Analysis of the past decade by Domain Group's senior economist Andrew Wilson found properties within Sydney's inner 10 kilometre radius had risen 71.5%, compared with 48.4% further out.
From its Paddington origins, McGrath Estate Agents reported December sales figures of $1.02 billion from 1,018 sales for its 62 office network, directly on the back of its 25-year record in November 2014 with $1.27 billion from 1,237 sales. 
McGrath advised that eight offices clocked record sales figures for December.
Sales activity was diverse with 274 sales over $1 million; 65 sales over $2 million and 9 sales over $5 million.
“When we look at the property landscape compared with twelve months ago, property has well and truly rebounded along the Eastern Seaboard, with very strong activity across metropolitan Sydney from Epping in the northwest to Sylvania and Brighton-Le-Sands in the south. The Central Coast is also benefiting from an upsurge in upgraders and investors across all price brackets.
“The strong growth recorded from our Mosman office is in line with our view that the prestige market will perform very well this year off the back of a relatively quiet year in 2014 compared to the rest of the market.”
The top five McGrath offices for growth in the past 12 months were:
<ul>
<li>Brighton-Le-Sands reports $34.6 million (+ 174% on December 2013)</li>
<li>Mosman reports $60.3 million (+167% on December 2013)</li>
<li>Palm Beach (QLD) reports $11 million (+145% on December 2013)</li>
<li>Epping reports $48.4 million (+88% on December 2013)</li>
<li>Warners Bay reports $15.2 million (+87% on December 2013)</li>
<li>Other offices in the group that posted record sales performances for December were:</li>
<li>Sylvania ($25.5 million), Belconnen/Gungahlin in ACT ($23.9 million) and Gosford ($13.6 million).</li>
</ul>
{mijopolls 85}
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John McGrath ignites Sydney's "hot forever" inner ring debate

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The McGrath Estate Agents network has had a record November on the back of rising volumes and prices.
"November 2014 has gone down in our 25-year company history as our biggest sales month on record with $1.27 billion worth of real estate sold across our 62-office network," its chief John McGrath has blogged. "November was an incredible month for many markets but particularly Sydney," he said.  But noting the weight of "skyrocketing" volumes, McGrath says the weakening clearance rate to around 70% was still a remarkable level of clearance with more than 1,000 properties going to auction on some recent Saturdays.  "Forget the bubble talk," McGrath said.
"Forget the doomsayers.
"What’s going on here is a glowing testament to real estate being one of the safest and most effective forms of wealth creation around.
"Look what’s happened to property prices in the past two years – they’re up more than 25%, according to RP Data.
"That’s really amazing stuff, although we do want this to slow down a bit, as a period of consolidation is vital after a significant burst of growth."
His market predictions for 2015: "things are inevitably going to slow down next year, especially in Sydney, which has experienced such phenomenal growth in 2013 and 2014."  McGrath is not sure whether the traditionally strong autumn season in 2015 will occur before a cooling in conditions over winter, or whether 2015 will "start on the back foot a bit", given the huge volume of sales going on right now.
"Time will tell," he told <a href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert/forget-the-bubble-talk-what-a-year/" target="_blank">his Switzer blog readers</a>. 
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Inevitable 2015 Sydney slowdown after remarkable record 2014: John McGrath

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Sydney is going to remain a seller’s market for some time yet, according to estate agent John McGrath.
He said it was surprising to see media reports describing the Sydney property market changing to favour buyers.
"We are still very much in a sellers’ market because buyer demand is so far in front of supply, even with the additional stock coming onto the market today," he blogged on the <a href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert/its-still-a-sellers-market/" target="_blank">Switzer website</a>.
"The fact that the clearance rate on the second weekend of November dipped to 75% in Sydney does not indicate a change in market sentiment – it’s just a reflection of a big jump in volume and that’s only happening because vendors are feeling supremely confident, not because they’re panicking." 
As the property cycle was only two years old – and typically last three to five years - he maintains Sydney was still on a long-term growth trajectory. 
"There is still room over the next couple of years for another 5 to 10% growth in prices in key high quality Sydney markets."
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Sydney is still a sellers' market: John McGrath

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GUEST OBSERVATION
The banning of Queensland auction price discussions and guides is one of the most ludicrous, retrograde steps in real estate I’ve seen in 30 years.  
I’m still unsure as to who the REIQ and government believe it is benefiting. It appears to me to be detrimental for buyers, sellers and agents all in one.  Nobody from the REIQ or government has been able to give me a credible answer as to why they have brought this in.  
Ask yourself as a buyer of real estate if you think it will assist you to purchase property by not allowing agents to discuss a property’s price with you? 
In an age of transparency and information it is the only jurisdiction on planet earth that bans agents and buyers from having conversations about the price of a property.  Maybe the rest of the world is wrong and the Queensland state government is right?
Until the new legislation comes into practice the good people of Queensland will not be impacted. In fact most have no idea of the proposal yet and will find out over the next few weeks as it becomes new law.
It is quite likely that a number of sellers will choose alternate methods of sale due to the new legislation and unfortunately cost themselves potentially significant profit on the sale of their property in doing so.
Auction is the most effective means of selling property in the world today when done well.  The most important thing for buyers is to be able to quickly and efficiently understand the likely selling range so they can determine whether to pursue the property.  
If they can’t easily determine a realistic selling range many will just move on to the next property.  People don’t have the time or desire to waste energy pursuing a property if they can’t get access to the price range.
I fought hard to retain the seller’s right to provide an indicative price to the buyers when they auction but for some unfathomable reason the government felt it was important to keep the buyers in the dark.
John McGrath is CEO of <a href="https://www.mcgrath.com.au/" target="_blank">McGrath Estate Agents</a>.
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Auction price guide bans the most ludicrous step I've seen in real estate

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Economic stability and expats pushing back into the prestige markets are helping to resuscitate the luxury residential market.
John McGrath has identified Australia’s economic performance and cashed up expatriates as two of four major themes impacting demand and prices for luxury residential property over the next 12 months.
“Political and economic stability, rising business confidence and increased overseas demand is driving new momentum in prestige property after several years of post GFC stagnation,” he says.
“While luxury property was lagging compared to the rest of the market, there are clear signals that it is stirring from its slumber and we are expecting material price rises above $2 million this year,” McGrath says.
According to RP Data figures, the number of $5 million-plus sales in Sydney was up 13% in the 2014 financial year while $3 million-plus sales in Brisbane shot up by 36%. 
During the same period sales in the nation’s most expensive suburbs started to slightly outpace the lower and middle markets in price growth. 
Price growth was 11% for luxury real estate while the middle market was 10.9% and the lower end 9.2%.
Expats made a return to real estate as the dollar weakened and the market became well supplied, he advised in his Swizter blog.
McGrath believes that China’s impact on property was significant after HSBC found that 18% of new supply in Sydney was purchased by Chinese investors who also claim 14% of Melbourne’s new homes.
Competition between private investors and Self Managed Super Fund (SMSF) investors was also fuelling prices.
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Lagging luxury property market to get expat boost: John McGrath

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Guest observation
Amid current speculation that John McGrath is looking at listing the reputable McGrath Real Estate Agency brand on the ASX, my mind turns to iconic investment tycoon Warren Buffett, a man referred to as "The Oracle". Buffett has the uncanny way of knowing when to take advantage of market highs and market lows.
It's interesting to take two pages from Buffett's encyclopaedia of successes and compare the premises to McGrath's alleged venture.
The first page, or principle, is Buffett's patience in waiting for markets to turn or bubbles to pop, enveloping vulnerable companies when the moment is right. He likens people's emotional purchases and the high risks taken when markets are overheated to "a virus spreading through a kindergarten".
Can we take Buffett's observation of 2003's mobile-home industry, where credit and purchasing was rampant and out of control, as a mirror of our current property market?
Is there a sign, a possible game changer to the operation of real estate companies, that our own Aussie Oracle sees?
Does McGrath see something that the average punter, property investor, or even real estate agent and property economist has failed to see? If the rumours prove to be true, I would judge  McGrath's move to float the agency (brand), as a bold and strategic consideration, at the present time.
It could also be the a possible ideal exit strategy for current real estate office holders, in a time where a turning property market is imminent. An exit strategy that can well end with a bang.
Another Buffett principle is to "invest in or buy a company that will produce 20% growth year in year out". Buffett refers to this as a "compounding machine".
When we apply Buffett's compounding machine strategy to the nature of the real estate business, in essence, the asset has to be a well-oiled and refined machine to produce high yielding dividends for stakeholders. Will this hold true of the individual agencies/offices that make up the McGrath brand?
Can a real estate brand or, more to the point, an agency with 61 offices, be a sustainable or profitable proposition that can be referred to as a compounding machine (even with growth into the Asian market)? Will the perceived growth in the real estate arena be enough to persuade investors to buy shares should McGrath list on the ASX?
False perceptions
In my view, there is a general and false perception that most real estate agencies are prospering.
The public have formed this belief solely due to high property prices, which are heavily inflated. Nonetheless, people make an association between high property prices and the myth that real estate offices are making it big.
Contrary to people's perceptions, the media is currently reporting that there has been a downturn in property listings.
This therefore means more competition among agents and agencies. As a matter of fact, more real estate offices are navigating towards bankruptcy, let alone being profitable enough to have any close association to this idea of being a "compounding machine".
I strongly believe that many real estate agencies, which are highly reliant and dependent purely on sales-listings, are pushing towards the red zone very quickly, and will soon be out of business. I know of many offices with rent rolls - landlord databases - in which the licensees have not paid themselves for up to a months.
The value of a real estate agency (other than the freehold).
The true value of a real estate agency is in the rent roll, not sales listings nor office fixtures or fittings. Not even the European cars most drive. Anything else outside of a rent roll is a liability, not an asset. Rent rolls are traded, "bought and sold". Some would like to believe that the so-called "databases" of purchasers an agency has, hold some sort of value. On the contrary, the only database of real value is the landlord database.
The current values of rent rolls on the market are reflecting ratios from $3.00 to $4.00 on a dollar income per annum. If the annual rent roll income of an agency was $100,000 per annum, the rent roll would be valued between $300,000 and $400,000,and this would depend on how clean and up to date the property management files are kept.
Would I buy shares in the float?
The main reason I would buy shares, if the McGrath brand was to be publicly listed, would be no different to a land release sale.
I would buy in the initial expression and I would be prepared to sell soon after the hype levelled out along with the price. As they say when buying in a land subdivision, buy in at Stage 1 and sell in Stage 3 and 4 before they release Stage 5. Anyone buying in after Stage 3 runs the very high risk of making no return on their investment, or worse still, going into the red.
I am of the opinion, because of the brand name and the level of respect the general public have of the brand, it may well be a welcomed stock. The public's misconceptions around how an agency is valued will further fuel the price of the shares. Therefore I will definitely buy in, sell soon after, and not buy with the view of keeping the assets long term.
Why I wouldn't buy shares?
It is not a question of why I wouldn't buy the shares; it is more a question of how long I would be prepared to keep them. Shares can take on similar characteristics to current overinflated real estate prices in most capital cities.
After all, shares tank every seven or so years and we have had a good six year run so far in this market.
To understand my short-term plan, allow me to scope the property management operation as a business. To do this, we need to drill down into how a successful office operates and have a better understanding of the need to maintain a profitable rent roll. These observations are not based on the McGrath rent roll operation. The following are general industry observations.
<ol>
<li>Young and inexperienced, underpaid property managers do not add value to the rent roll. Highly trained and skilled property managers and property officers add value.</li>
<li>It is an industry that requires a lot of "human attention" and care, as opposed to a manufacturing plant system that is automated with machinery and robots.</li>
<li>Although systems and office procedures can minimise the human work load it can never eliminate the need for skilled supervision required to run an efficient property management team.</li>
<li>Property management fees are highly competitive and volatile and these range from 4% to 7% from weekly rents collected.</li>
<li>The landlord's contractual obligation to an office is only by way of a 30 to 60 day notice. An Exclusive Management Agency Agreement does not mean you own the management in a literal sense.</li>
<li>The ratio of a skilled property manager (PM) to property managements (M) is 1PM:250M</li>
<li>The return of investment at the mid-range value of a management is three and a half years. It will take three and half years to recover any capital investment made, provided there was no attrition of clients/landlords.</li>
<li>Point seven does not take into account cost of overheads to maintain the office open.</li>
</ol>
Personal experience
Over the last 24 months I have seen rent rolls creep up in value, from $2.75 for every $1 to $4.00 for every $1 earned. When I have inspected property management files to determine whether or not our office would purchase these, they have come very short of the mark. Most have required more money and work to get the files up-to-date and in order, so their asking value was priced at more than they are worth.
We have in the 24 months also bought a rent roll for as little as $1.20 for each dollar of income it generated. This is not a common occurrence, but it does happen.
We have also been offered a rent roll for $2.20 per dollar of income generated. Although it looked like an attractive proposition, it cost more than it was worth. It was a risk not worth taking for the reason previously stated: no guarantee that the expenditure could be realised over the three and a half years and in this case in two and a half. It was just not worth the risk.
Therefore, on the previous figures provided, I have also wondered whether or not current rent rolls are overpriced. Are they also caught in a bubble of their own that could just as well pop?
As previously stated, I would be the first to take up an offer in the McGrath float.
I would not, however, buy in with the view to keep the shares long-term. There aren't enough factors that would make me consider the stock to be one Buffett would label a "compounding machine". I am nonetheless intrigued and keep asking myself: "Is this the perfect exit strategy for the man and the licensees that make up the brand?"
Again, I make my observations purely based on my understanding of a real estate office model and the perceived value of a rent roll. A share broker would have a complete and better understanding of the actual value or worth of the shares when taking into account other assets not just the rent roll.
EDWIN ALMEIDA is managing partner and licensee-in-charge of <a href="https://www.just-think.com.au/" target="_blank" rel="nofollow">Just Think Real Estate</a>.
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Is John McGrath the new Aussie oracle?

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With prices rising in Sydney and its surrounds, many investors will look further out to regional areas for cheaper entry level prices and higher yields.
But where should you look?
John McGrath has tipped four New South Wales areas “to watch” for growth in the state's regions.
<a href="/news">Moss Vale </a>
First on the list is Moss Vale – a “beautiful village area with diverse housing,” he says.
“Moss Vale is a 10 minute drive south of Bowral and offers better value but the same lifestyle,” he notes, pointing to median house prices approximately $185,000 cheaper than Bowral.
Houses
<ul>
<li>Median price: $400,000</li>
<li>Rental yield: 4.68%</li>
</ul>
Source: RP Data
<a href="/news">Mount Ousley</a>, <a href="/news">Balgownie</a>
North of Wollongong’s CBD, McGrath notes that the areas are popular with both young families and Sydney commuters due to its easy access to the Princes Motorway for just a half an hour trip to Sydney’s southern border.
“[It’s a] fantastic local village shops at Balgownie and a lot of housing diversity,” he says.
Houses – Mount Ousley
<ul>
<li>Median price: $510,000</li>
<li>Rental yield: 5.25%</li>
</ul>
Source: RP Data
Houses – Balgownie
<ul>
<li>Median price: $577,000</li>
<li>Rental yield: 4.06%</li>
</ul>
Source: RP Data
John McGrath's next two tips are on the next page. PLease click below.
 
<hr class="system-pagebreak">
<a href="/news">Blackheath </a>
Meanwhile, he points to the wonderful character homes in Blackheath on offer from $350,000 on quarter-acre blocks.
“It has a lively local village and is already benefiting from road upgrades enabling faster access to Sydney,” he says.
Houses
<ul>
<li>Median price: $380,000</li>
<li>Rental yield: 4.52%</li>
</ul>
Source: RP Data
<a href="/news">Kincumber</a>
Kincumber is the affordable neighbour of suburbs <a href="/news">Avoca Beach</a> and<a href="/news"> Saratoga</a>, and as a result offers good yields, he says.
It has “prospects for capital growth with today’s prices about 20% less than Avoca Beach and Saratoga”.
Houses
<ul>
<li>Median price: $427,000</li>
<li>Rental yield: 4.87%</li>
<li>Source: RP Data</li>
</ul>
Click on the names of the suburbs for more details. For other suburb information, see our free data pages here.
You might also want to read:
<a href="/expert-insights/investing/john-mcgrath-s-10-sydney-suburb-picks">John McGrath's 10 Sydney suburb picks</a>
<a href="/news/qld/john-mcgrath-s-five-south-east-queensland-hotspots">John McGrath’s five South East Queensland hotspots</a>
<a href="/news/act/john-mcgrath-s-three-canberra-hotspots-under-the-microscope">John McGrath’s three Canberra hotspots under the microscope</a>
Photo of Moss Vale courtesy of Bidgee/<a class="mw-mmv-license cc-license" href="https://creativecommons.org/licenses/by-sa/3.0/au/deed.en" target="_blank">CC-BY-SA-3.0-au</a>.
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John McGrath’s top four regional New South Wales hotspots

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Given Melbourne and Sydney’s strong growth, John McGrath says that it may be wise to turn attention elsewhere – specifically, Brisbane and South-East Queensland, where he expects to see the best capital growth of all the major cities over the next three years.
He suggests that it will be a fantastic opportunity for southern state-based investors, downsizers and seachanging families.
"Upgraders are driving most markets in Queensland, with increasing interest from Melbourne and Sydney investors chasing better yields and value,” he noted in his most recent McGrath report.
“Last year, the sub-$1 million was the standout sector, this year it has extended to sub-$1.5 million. The $500,000 to $700,000 bracket is very strong, with lots of families selling to upgrade to $1 million plus properties and lots of buyers ready to compete for their homes."
He detailed that Brisbane is in the beginning of its growth cycle.
This is characterised by the following seven factors:
<ol>
<li>More local and out of area investors 
</li>
<li>More families upgrading while value remains 
</li>
<li>First home buyers looking to get out of the rental cycle 
</li>
<li>Returning developers 
</li>
<li>Number of sales goes up 
</li>
<li>Days on market goes down 
</li>
<li>More buyers attending opens and registering to bid at auctions</li>
</ol>
"All of this is happening in Brisbane right now and it's finally starting to have an impact,” he said, noting that as Sydney and Melbourne’s growth slow down, we can expect Brisbane’s to ramp up.
The inner ring markets, that is five to six kilometres from the CBD, were noted as being in “strong demand” followed by the middle ring, 10 kilometres out.
"We are starting to see that classic ripple effect as more people expand their search to the middle ring where they can get bigger blocks at slightly better prices yet still with easy access to the CBD,” he said.
"More buyer's agents are setting up in Brisbane - indicative of increasing demand from interstate clients."
Larger infrastructure projects, including hospitals, are also likely to drive growth over the next few years.
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The seven factors behind Brisbane’s upcoming growth: John McGrath

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Spring auction numbers are emerging in both Sydney and Melbourne, but the small spike is no serious test yet.
APM has around 570 scheduled listings this weekend in Sydney, up from the 430 last weekend.
In Melbourne there are 715 offerings, up from 646 last weekend.
Then the early September weekends will see around 520 and 520 offerings in Sydney.
It's about 700 and 800 auctions per weekend in Melbourne over the first two weeks.
Neither city is showing signs of listings surging well in excess of last spring's volumes.
The Sydney estate agent John McGrath told the Australian Financial Review he did not expect the market to change much in spring and summer, after it showed strength over winter.
“The indicators remain positive, with record-low interest rates, a solid economic growth cycle in play and renewed demand from both local investors and overseas buyers,” Mr McGrath said.
“I believe this market has at least two years left in its growth cycle before we see a plateauing.” 
However, McGrath said Sydney’s current rate of growth would moderate.
It would likely settle back at a more sustainable 5% to 10% per annum over the next two years, he suggested.
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John Mcgrath

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