Southern Cross Station anchors the western end of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a>’s CBD, connecting metropolitan and regional rail with tram and bus interchanges in one of the city’s busiest transport corridors.&nbsp;

Just metres away, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a>&nbsp;will place residents in the heart of the city, with immediate access to Spencer Street trams, a growing mix of retail, hospitality and cultural venues, and a neighbourhood evolving into a lively residential precinct.

Developed by <a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a>, the 68-storey project integrates a sculptural glass tower with the heritage-listed Eliza Tinsley Building on a 2,765 sqm site.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the development replaces a previously approved scheme for 813 apartments with a refined offering of just over 600 larger-format residences, responding to a growing owner-occupier demand for spacious city living.

The location sits within a dynamic pocket undergoing significant transformation. Marvel Stadium and the Docklands waterfront are less than 10 minutes away on foot, offering both sports and leisure attractions.&nbsp;

Bourke Street Mall, Queen Victoria Market, and the State Library are all within walking distance, while Flagstaff Gardens, Melbourne’s oldest park, provides a green escape just to the north.

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Proximity to some of the city’s largest employers and education hubs, including the courts precinct, legal chambers, RMIT, and major hospitals, makes 640 Bourke Street an appealing residential address for professionals, families and students alike.

Education opportunities span all levels. Nearby, Haileybury City Campus offers private schooling just a short walk from 640 Bourke Street. Just beyond the CBD fringe, Carlton Gardens Primary School, one of Melbourne’s oldest state primary schools, and Docklands Primary School provide convenient government schooling options.

Higher education is equally accessible. RMIT University’s city campus spans multiple buildings just a few blocks away, while the University of Melbourne’s Parkville campus is easily reached via tram along Swanston or Elizabeth Streets.

Victoria University’s City Queen campus, focused on law and business, is also close by, positioning 640 Bourke Street within walking distance of three of Melbourne’s major tertiary institutions.

[smartcode_project:default project_id=509 project_image_fid=335414]

The neighbourhood’s retail tapestry continues to evolve into something distinctly local and walkable. Just steps away, Woolworths Metro on Bourke Street ensures that everyday essentials are easily within reach.&nbsp;

For larger shopping trips, Spencer Outlet Centre on Spencer Street and QV Melbourne on the opposite side of the CBD broaden the offering with supermarkets, fashion, dining and specialty stores.

The lane-to-lane vibe unfolds beautifully in nearby arcades and alleys. Hardware Lane, with its European-style red-brick paving and alfresco dining, pulses with jazzy evenings and casual lunches.

A few minutes north, Howey Place and Centre Place offer leafy, boutique-lined lanes where hidden cafés and niche retailers congregate under historic glass-covered cloisters.

Completing this tapestry is the newly opened Mecca “beauty playground” on Bourke Street. Spanning 4,000 sqm over three levels, the flagship blends immersive retail within an art-deco heritage setting.

[smartcode_project:default project_id=509 project_image_fid=335415]

This finely grained network of shops, eateries, arcades and service outlets defines the everyday lifestyle at 640 Bourke Street - further enriched by over 3,000 sqm of resident amenity including a Turkish-inspired pool, gym, co-working rooms and private cinemas.&nbsp;

Now selling from $640,000 to $3.95 million, with off-the-plan stamp duty concessions available until October 2026. Prospective buyers can visit the on site display gallery which has&nbsp;fully built one, two, and three-bedroom apartments.

[smartcode_project_cta:default project_id=509]

Joel Robinson

640 Bourke Street: A heritage address at the heart of Melbourne

Lower North Shore development specialists&nbsp;<a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>&nbsp;has topped out its new local apartment development,&nbsp;<a href="https://www.apartments.com.au/new-apartments/northcote-collective-naremburn-2-6-northcote-street-naremburn-nsw-2065">Northcote Collective</a>.&nbsp;

Located in the tightly held suburb of <a href="https://www.apartments.com.au/developments/naremburn-nsw-2065">Naremburn</a>, Northcote Collective is a collection of just 58 one-, two-, and three-bedroom apartments designed by award-winning architects Rothelowman.&nbsp;

The building is just a five to 10 minute walk from the heart of Crows Nest and the new&nbsp;St Leonards and Crows Nest Metro stations. Abadeen has also brought doorstep convenience, with a ground-floor retail offering on Northcote Street.

Northcote Collective is being delivered by&nbsp;<a href="https://www.apartments.com.au/builders/decode">Decode</a> — an iCIRT-rated construction company well regarded in the new development industry.

[smartcode_project:default project_id=114189 project_image_fid=272840]

“This is an important and exciting moment for Northcote Collective, and we’re proud to celebrate this milestone with our partners, consultants, and future residents,” said Justin Brown, Executive Chairman and Founder of Abadeen.&nbsp;

“From the outset, our vision was to create something truly special for Naremburn — homes that respect the character of the neighbourhood while elevating the standard of Lower North Shore living. With connectivity to transport, retail on the doorstep and a true village lifestyle, this milestone also comes at a perfect time when buyer confidence is returning to the market. I am incredibly proud of our team and of Decode for their dedication in helping us bring this vision to life.”

[smartcode_project:default project_id=114189 project_image_fid=272865]

The development is two-tiered, with two rooftops for residents. The taller building has an impressive rooftop pool, a rare inclusion in the new Sydney apartment market. The level, with panoramic views, also includes an entertaining terrace with barbecue facilities.

Local downsizers and young professionals are showing the strongest interest in the development, with recent improvements in the property market — supported by three rate cuts in 2025 — boosting borrowing power and buyer confidence.

Auction activity across Sydney surged by almost 30 per cent in recent weeks, with clearance rates above 70 per cent — signalling a renewed wave of buyer demand.

Northcote Collective will welcome buyers in 2026.

[smartcode_project_cta:default project_id=114189]

Abadeen tops out Northcote Collective in Naremburn

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

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

Sydney House, the residential redevelopment of the landmark City Tattersall building on Pitt Street in the Sydney CBD, will officially launch to the market this month.

The $800 million development, a joint venture between&nbsp;Singapore-listed <a href="https://www.apartments.com.au/developers/first-sponsor">First Sponsor</a>&nbsp;and leading Melbourne-based developer&nbsp;<a href="https://www.apartments.com.au/developers/icd-property">ICD Property</a>, will see a glass tower with 241 apartments and a 135-room hotel built above the restored heritage-listed podium.

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The apartments will offer&nbsp;rare northeast-facing views across the sparkling Sydney Harbour and Hyde Park, all positioned above a luxury hotel with exclusive access to premium amenities and five-star lifestyle services.

Internationally acclaimed architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/bvn-architecture">BVN Architecture</a>&nbsp;handled the design for the residential component and the interiors for the hotel, while&nbsp;<a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>&nbsp;focused on the heritage podium.

[smartcode_project:default project_id=12428 project_image_fid=6670]

First Sponsor’s CEO, Neo Teck Pheng, together with ICD Property’s CEO, Matthew Khoo commented that the joint venture team was ecstatic to bring this extraordinary project to market as the first opportunity for those looking to secure their ultimate CBD luxury residence elevated by premium hotel amenities, including select premium services designed for effortless living.

“<a href="https://www.apartments.com.au/new-apartments/sydney-house-194-204-pitt-street-sydney-nsw-2000">Sydney House</a> will offer a sophisticated expression of modern CBD living, capturing panoramic vistas to Sydney’s most beloved icons, including the Sydney Harbour Bridge as well as Hyde Park out to the North and South Heads,” Khoo said.&nbsp;

&nbsp;

[smartcode_project:default project_id=12428 project_image_fid=312146]

Mr Neo expressed that the reinterpretation of the heritage podium levels will feature an elegant heritage bar and restaurant, along with luxurious hotel and function facilities, enhancing the experience for residents. The historical features will be reborn, ensuring that these grand, opulent spaces will once again be enjoyed, appreciated and celebrated by residents, Sydneysiders as well as interstate and international visitors alike.

Managing sales for the project, SRM Residential Partner Tim Rees said that the team has received an overwhelming response to date, largely from local downsizers and upgraders looking for the ultimate lifestyle purchase.&nbsp;

“Once completed in late 2027, Sydney House will be Sydney CBD’s newest icon blending modern architecture with historic grandeur located in one of the most prestigious enclaves of the CBD,” Rees said.&nbsp;

“Pitt Street is arguably the most significant street in all of Sydney. Just a stone’s throw from Circular Quay, Sydney Opera House, Hyde Park and Darling Harbour, Sydney House offers seamless connection with the CBD and beyond. Pitt Street Mall is literally across the road and there is an abundance of dining and cultural venues in close proximity. The outlook from Sydney House will be breathtaking with views of Hyde Park and Sydney’s famous iconic landmarks on offer.

“Following the trend of other global cities such as New York, London, Paris and Tokyo, luxury inner city apartment living with access to premium hotel amenities is the new ‘trophy home’ for wealthy downsizers or empty-nesters who aren’t looking to slow down, as they want to live in the heart of the action.”

[smartcode_project:default project_id=12428 project_image_fid=350624]

The project boasts a prime CBD location surrounded by the city’s most premium shopping centres including David Jones and Westfield Pitt Street as well as some of Sydney's best restaurants, bars,&nbsp;pubs, theatres, museums, art galleries, and parks.

Residents will be able to access the newly opened Sydney Metro Gadigal Station, located within a block from Sydney House. This station provides connectivity to Martin Place (one min), Barangaroo (three mins) and North Sydney (11 mins) as well as Chatswood and Macquarie University through to Castle Hill and Norwest. With services every four minutes during peak times, the Sydney Metro provides the ultimate convenience with 21 stations from Tallawong to Sydenham.

One of Sydney’s leading residential construction companies, particularly in premium off the plan luxury residences, Richard Crookes Constructions, will complete the project in late 2027.&nbsp;

Price guides at Sydney House include one-bedroom apartments from $1.5 million, two-bedroom apartments from $2.3 million and three-bedroom apartments from $5 million.

[smartcode_project_cta:default project_id=12428]

Set to bring next level luxury to Sydney CBD’s prestige property market

Buyers set for first chance at Sydney House, Sydney CBD's newest landmark tower development

Joint venture partners&nbsp;<a href="https://www.apartments.com.au/developers/amalgamated-property-group">Amalgamated Property Group</a>&nbsp;(APG)&nbsp;and&nbsp;<a href="https://www.apartments.com.au/developers/base-developments">Base Developments</a>&nbsp;have kicked off construction&nbsp;on its second Gold Coast apartment tower, Affinity Broadbeach, which is due for completion in early 2028.

More than 50 per cent of the 180 two- and three-bedroom apartments have sold, with buyers particularly impressed by&nbsp;the spacious and functional floor plans, close proximity to the beach, premium inclusions, and expansive resort-style amenities.

APG has just released a new limited collection of three-bedroom skyhomes with three living rooms and four bathrooms.

[smartcode_project:default project_id=107690 project_image_fid=323744]

Graham Potts, Principal and Founding Director Amalgamated Property Group, said the strong demand for <a href="https://www.apartments.com.au/new-apartments/affinity-broadbeach-40-46-chelsea-avenue-broadbeach-qld-4218">Affinity Broadbeach</a> highlights a genuine need for affordable luxury residential developments on the Gold Coast.&nbsp;

“It’s exciting to see construction kick off on this sought-after project which is set to create a new benchmark in luxe coastal living on the Gold Coast," Potts said.

"Buyers are attracted by the seamless blend of convenience and elegance that Affinity offers, together with the knowledge that our 20-years of industry experience ensures we continue to deliver homes to the same high standards our reputation has been built on."

Capital Construction Queensland, the inhouse construction arm of APG, is handling the building. Potts says having the internal build capability provides buyers with confidence in delivering a high-quality building, referencing Amaya Broadbeach which is nearing completion nearby.

[smartcode_project:default project_id=107690 project_image_fid=323199]

Carly Cottam, CEO of <a href="https://www.apartments.com.au/project-marketer/motiv">MOTIV</a> Group which is selling Affinity, says there's a clear undersupply of property across Southeast Queensland and an even greater shortage of well-designed, spacious residences.

"That’s why Affinity has attracted such strong demand," Cottam says.

"Every detail, from the intricate finishes to the intelligent spatial planning, has been crafted for the discerning owner-occupier. Beyond the residences, the amenity is designed as a true extension of the home."

&nbsp;

[smartcode_project:default project_id=107690 project_image_fid=6678]

Affinity’s superior amenities are resonating with buyers who are impressed by the range on offer, from the expansive outdoor heated pool, to the state-of-the-art gym, steam and sauna facilities, outdoor entertaining terraces, and a business centre.

"The offering reflects exactly what buyers are seeking when right-sizing or upgrading - spacious residences complemented by curated residential amenity, all within moments of the beach and vibrant retail and dining precincts,” Cottam added.

[smartcode_project:default project_id=107690 project_image_fid=6676]

Dennis Milin, Principal of Base Developments and Milin Builders, and Director of Capital Constructions Queensland, said the team is excited to deliver another collection of premium homes in the heart of Broadbeach.

"With more than three decades of proven success in construction and development, our award-winning portfolio across the ACT and NSW speaks for itself, now further demonstrated by the strong progress at Amaya Broadbeach on First Avenue in Queensland,"&nbsp;Milin said.

“In partnership with a highly regarded team of designers, engineers and trades, and supported by our experienced Gold Coast construction professionals, we remain committed to delivering projects defined by quality, timeless design and uncompromising standards."

Early works at Affinity are already advancing, with guide walls for shoring and bulk excavation underway.

[smartcode_project:default project_id=107690 project_image_fid=323196]

With a proven track record in large premium projects, APG has been developing residential and commercial property across Australia for more than 20 years. APG and Base Developments are the same duo behind the successful Amaya Broadbeach, currently under construction on First Avenue and due for completion in early 2026, as well as a number of other successful joint developments in Canberra, including Botanical in Turner, Kiara in Narrabundah, Ivy in Woden, and the three-tower Oaks precinct in Phillip.

APG is currently building The Eastbourne, 349 homes, a premium office building, and a retail and dining precinct at ANZAC Park East.

[smartcode_project_cta:default project_id=107690]

Amalgamated Property Group and Base kick off construction at Affinity Broadbeach

Property Advice

EXPERT INSIGHT

With the stamp duty waiver for purchases of Victorian residential property set to end on 30 June, the next fortnight may prove fruitful for investors considering their next purchase.

The Australian property market is continuing to grow at an unprecedented rate, with the latest data from CoreLogic showing national home values rising another 2.2% in May.

However, not every suburb in every city across the country will experience growth.

The question then, particularly for those looking to grow their property portfolios, is when do I buy, and where?

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<h2>When do I buy?</h2>

Last November, the State Revenue Office Victoria initiated a land transfer duty waiver for purchases of Victorian residential property with a dutiable value of up to $1 million, and on 30 June, this incentive will end.

The waiver reduces stamp duty by as much as 50% for new residential properties - 25% for existing residential properties and vacant residential land. In other words, property investors stand to save up to $15,000 - and this is after other eligible benefits, such as the principal place of residence, and pensioner concessions, have been applied.

With some easing in the impact of government incentives, and Victoria being the only state with any such concessions available to investors, for Australians looking to diversify their property portfolios at a discount, the time to buy is now.

[smartcode_project:default project_id=5490 project_image_fid=78490]

<h2>Where do I buy?</h2>

Savvy investors purchase properties in locations where developers are out of sync with market demand.

In the face of significant and unpredictable lockdown measures, common sense might dictate that now is not the time to invest in Melbourne. After all, it fell six places in the 2021 Economist Intelligence Unit&rsquo;s Global Liveability Index, and according to a report by the Centre for Population, published in December, interstate migration out of Victoria is expected to grow as residents seek greater stability.

However, a strong investment is one built on strong data, and this data does not paint a complete picture.

There are select suburbs, even streets, in Melbourne where growth could be substantially greater than others.

Among these regions is Geelong. Unlike most other regional cities, Geelong is relatively close to a major capital city, being only a 90-minute drive to the Melbourne CBD.

[smartcode_project:default project_id=5559 project_image_fid=88241]

The planned Geelong Fast Rail will not only boost Geelong&rsquo;s transport infrastructure, but shorten the travel time into Melbourne, encouraging even greater numbers of city workers to take up residence in the region.&nbsp;In fact, the City of Greater Geelong is one of the fastest growing regions in Australia, with its population of 250,000 expected to swell to 350,000 by 2041.

Its unemployment rate (4.3%) is well below the national average (6.7%), and in the last five years alone, median house prices have risen over 46%.

Scott Kuru and Lianna Pan are&nbsp;Co-Founders of Freedom Property Investors

With the stamp duty waiver for purchases of Victorian residential property set to end on 30 June, the next fortnight may prove fruitful for investors

Melbourne real estate is ripe for investment: Freedom Property Investors

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Let’s look at the facts and decide where first of all we need to separate the investment property markets and the first home buyer markets from the family residence markets.
We also need to look at the current NSW Government mandate where they intend to merge councils to ensure that NSW keeps developing and driving residential construction to record levels never seen before. Premier Mike Baird is a smart man as he knows that the investor market has never been larger given the record stamp duty and land tax receipts. These are the new ‘rivers of gold’ that will in part fund this massive infrastructure spend.
According to Stockland chief executive ‘the Australian property sector is in the second quarter of what is often a seven – to – eight year housing cycle’. Now I have no problems with that and I agree given we all know what the intentions are of the NSW State government….it’s build – build – build to then generate tax – tax – tax.
We also now find ourselves in unchartered waters given we have never encountered a record low cash rate which could even go lower – another driver of the real estate market. Historically there have been two drivers to mortgage delinquency – increasing cash rates and unemployment. On that basis we can remove an increasing cash rate in the short term or quite possibly long term, although some are now warning property developers that they should be factoring in a price crunch.
Well that can’t happen given the property developers are concentrating on investors and the booming overseas market where 100 per cent of all ‘new’ developments can be sold to non – Australian residents.
Now the biggest conflict is Australia’s housing policy or better still our elected politicians who have no idea what they are talking about when they implement new policies – Federal treasurer Joe Hockey is the prime example.
Earlier this week he declared ‘that the crackdown on foreign investors illegally buying property in Australia could force down house prices.” Well for that to happen there would need to be thousands and thousands of properties flooding the market. Is he aware of something that we need to know?
This week Treasurer Joe Hockey announced new laws regulating property purchases by foreign investors and this clanger got my blood boiling. Mr Hockey said “foreign investment rules had not been significantly revised since their introduction 40 years ago.” Under the draft laws, penalties would be increased from $90,000 to $135,000 for serious breaches of residential real estate rules. Real estate agents, migration agents, lawyers and conveyancers who knowingly assist a foreign investor in breaching the rules will now be subject to both civil and criminal penalties.
Well Mr. Treasurer, all you need to do is enforce that all property buyers produce a tax file number and then you build your national Property Register and the Australian Taxation Office can record all transactions.
Now back to the “foreign investment rules had not significantly been revised since their introduction 40 years ago”. Back on 18 December 2008, the Australian Federal Government (for reasons only known to themselves) announced policy and administrative changes for foreign investors acquiring Australian real estate where they very kindly made it much easier from 2009 for foreign investors to acquire Australian real estate. This was a major announcement so I assume our esteemed treasurer completely overlooked this announcement when he went back over the past 40 years.
The existing requirement which allowed only 50 per cent of new dwellings to be sold to foreign persons in an ‘off – the – plan’ situation was changed to 100 per cent – on the proviso that developers market locally as well as overseas. Today we have overseas developers selling new developments exclusively overseas and they are not offered to Australian investors. Also a ‘new dwelling’ was defined as never previously occupied or sold. This now includes dwellings that were not sold by the developer but were rented out for no more than twelve months. I bet that has never been policed or followed up by the Foreign Investment Review Board (FIRB)?
They also implemented student visa holder residents in Australia are no longer subject to a $300,000 limit on the value of an established dwelling purchased as their principal place of residence. So students through their parents can buy waterfronts and the like? Temporary residents will not be required to notify FIRB of proposed acquisitions of an established dwelling for their own residence, any new dwellings and single blocks of residential land. Foreign – owned companies can now purchase established dwellings for the use of their Australian – based staff provided they sell or rent them if they are expected to remain vacant for more than six months.
And on and on it goes …….
So by now I am hoping that you are identifying the conflicting evidence that is coming out of Canberra. Why has the allowed foreign investor allocation for new dwellings been allowed to remain at 100 per cent where for 34 years it was set at 50 per cent?
<a href="/expert-insights/why-todays-chinese-property-investment-is-just-the-beginning-andrew-taylor">Why today’s Chinese property investment is just the beginning.</a> The questions that need to be asked is just why did Kevin Rudd and Wayne Swan make such significant changes to best suit foreign buyers? Why has the ratio been left at 100 per cent given the strength of the Australian property market? A strong argument that if you want to keep this at 100 per cent then remove both Sydney and Melbourne CBD’s from the overseas shopping trolley.
This week we learned that Nine Entertainment has sold its Sydney headquarters to Hong Kong based developer Euro Properties for $147.5 million. The selling agent CBRE’s Matthew Ramsay said 17 bids had been received from local and international investors and developers. Mr Ramsay said “that foreign investment in the Australian property market was at an all – time high, bolstered by a lower Australian dollar.” I’d say the lower dollar helps and the real reason is that the overseas developers can (thanks to the Australian Government) sell the entire development off – shore to investors.
Oh and I wouldn’t hold your breath if you were thinking of buying one of the 400 or so apartments when the Nine Entertainment development is offered for sale.
<h5>MOSMAN – 2088</h5>
• Number of houses on the market this time last year – 66
• Number of houses on the market last week – 47
• Number of houses on the market this week – 53
• Number of apartments on the market this time last year – 48
• Number of apartments on the market last week – 40
• Number of apartments on the market this week – 41
<h5>CREMORNE – 2090</h5>
• Number of houses on the market this time last year – 8
• Number of houses on the market last week – 2
• Number of houses on the market this week – 2
• Number of apartments on the market this time last year – 13
• Number of apartments on the market last week – 18
• Number of apartments on the market this week – 15
<h5>NEUTRAL BAY – 2089</h5>
• Number of houses on the market this time last year – 4
• Number of houses on the market last week – 2
•Number of houses on the market this week – 4
• Number of apartments on the market this time last year– 31
• Number of apartments on the market last week – 25
• Number of apartments on the market this week – 25
 
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000. 
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robertsimeon-hRNTwJyXkQ

Why is property full of conflicting evidence? Robert Simeon

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A Brisbane man accused of overseeing a $12 million investment was remanded in custody on Saturday after being extradited from New Zealand, to reappear for mention on April 1.
Anthony David Gray, 54, was charged with 25 counts of fraud, relating to a property investment scheme run by his Gold Coast-based business.
Synergy Gray Professional Services ran from 2007 to 2017 with investors allegedly told they would receive a high rate of interest for funding short-term bridging loans to property developers in New Zealand, Singapore and Hong Kong.
Two of the 25 were allegedly defrauded of more than $2 million each.
"These investments did not exist, and the funds invested were diverted and used for the personal use of the alleged offenders," he said.
Gray allegedly told investors he was a solicitor and registered financial advisor, but he was unlicensed and his practising certificate with the Queensland Law Society had lapsed.
The scheme was based on short-term bridging loans, which Gray allegedly claimed was secured by real estate with capital and interests guaranteed, the summary of facts said.
Mr Gray's 72-year-old female business partner from Hamilton faced court in Brisbane on February 25 charged with nine counts of fraud.
Detective Senior Sergeant Paskin said the Financial and Cyber Crime Group were now investigating another six complaints, and further charges could be laid, Nine Entertainment reported.
None of the money has been recovered.
The alleged victims were either known to the offenders, or referred to the offenders by persons who knew them, Detective Senior Sergeant Paskin said.
They would see some alleged return on their investment via an allegedly fraudulent statement.
The victims came from across Australia as well as the US, UK and Europe.
Gray left Australia in February 2017 to flee creditors.
Appearing in Tauranga District Court, Gray did not oppose extradition to Australia to face the charges involving an alleged Ponzi-type investment scheme.
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j.ballantyne1990-6AQqhLzZaK

Synergy Gray Professional Services boss Anthony Gray extradited to Queensland

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In property conveyancing, dates are essential terms in the contract.
Buyers and sellers regularly negotiate property settlement dates that work for them both.
And with just 80 days to Christmas, it is timely to consider how best to work around the calendar to secure a smooth sale.
Finding a private treaty buyer is taking around 40 days in Sydney, according to CoreLogic.
Then settlement typically takes place six weeks after contracts are exchanged, but this can be a point of discussion before the signature on the contract.
Whether it’s a sale by private treaty or by auction, once a contract has been signed, the settlement date is fixed.
A home purchase doesn't finish with signing the sales contract. In fact, the signing is the beginning of the most important process.
Of course, just because there's a date within the signed contract, doesn’t mean that the date isn't movable. But there could be consequences.
There are often issues that arise before actually taking possession of the property.
Around one in five property settlements in Australia is delayed by a median period of seven days, according to Property Exchange Australia (PEXA).
This delay has financial and emotional repercussions.
And the postponed settlements often create a knock on effect resulting in additional property settlement delays.
The proximity to Christmas, New Year and the school holidays heightens stress, so it warrants the earliest consideration of delayed settlement terms.
The seller and buyer need to agree to push back the move date before signing the contract.
I think it is actually a selling point to be flexible on settlements, possibly pushing the settlement well into 2019 as its offers the pre-Christmas buyer plenty of time to find the buyer of their home too.
Ofcourse, some buyers might have already sold and be keen for a quick settlement.
Either way, vendors need to be receptive to enhancing their sale prospects.
There will likely be some attendant issues, such as insurance, bank approvals, bridging finance and maybe deposit release.
Communication and common sense are needed in the formal and informal interactions between the buyer and seller, along with their estate agents, lenders and conveyancers.
I'm told Australia's most expensive house, Fairwater, which sold last month to tech entrepreneur Mike and Annie Cannon-Brookes ending the Fairfax family's 100 year plus hold on the exclusive beachfront, was done with delayed settlement terms.
They agreed on six month settlement terms.
Finding finance won't be an issue for the Atlassian billionaire, but vendors do need to be aware of looming problems if their buyer struggles to find purchasing funds in these straighten lending times.
On the formal front, in the event that a NSW purchaser is not in a position to settle on the settlement date, generally the vendor can charge penalty interest for each day that settlement is delayed and also issue a notice to complete, which gives the purchaser an additional 14 days to settle, thereby making time essential.
In the event that the purchaser is not able to settle by that date, the vendor may be able to terminate the contract and keep the purchaser’s deposit.
Changing minds isn't the go.
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jchancellor-FAypfDUnLy

Delayed settlement can boost the chances of finding the right buyer 

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<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/26/spring%20700x425.jpg" alt="">
Traditionally Spring is the most popular time to list your home.
The sun is back out after Winter with Spring and then summer is on the horizon.
In this eBook you will find advice on how to pick a real estate agent to sell your home.
There are now dozens of local agents in every suburb, whose knowledge of the local area is essential when selling your property.
We hope you enjoy the eBook and the advice the Property Observer team can give you in future when buying or selling property.
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jrobinson-rf4aSBido9

Free eBook: How to find the best agent to sell your home this Spring

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The bears are out! Not literally, but in terms of investing in property, shares and bonds, according to a gloomy scenario projected by some experts. 
Recently, Deloitte economist Chris Richardson said that property may become the worst investment in the next few decades because of the oversupply of apartments. 
This comes close on the heels of the RBA’s warning that inner city apartment prices could fall due to an oversupply and news that leading super fund managers are pulling out of shares. 
But Peter Switzer says the paranoia might be overstated and experts can get it wrong sometimes. Smart investing is the key, he says in his Switzer blog. 
So what are the fund managers doing by increasing their cash holdings? Are they investing in bonds?
The bond market is “said to be on death row, with a possible bond market implosion talked about”, wrote Switzer.
Deloitte’s Richardson’s words carry a lot of weight because of the oversupply problem and the end of low interest rates, which have driven property prices sky-high, are a recipe for a fall in prices. 
In such a case, it makes sense to be wary of paying top dollar for apartments now, however, there could be great buying in a year’s time, commented Switzer.
“Apartment prices can fall in Melbourne, Brisbane and Sydney, and in that order, from biggest to smallest drops," he wrote.
"However, if you bought your apartment five years ago, you could be well in the money, even with a decent fall.
“Right now in Melbourne, Docklands apartments are seeing prices slump but in East Melbourne, they’re still charging like wild bulls.
“People forget that NSW’s property prices were flat for 10 years before the boom of the last three-four years."
He prefers areas like Paddington (Paddo) in Sydney and Albert Park in Melbourne, which, according to him, have limited supply and the chance of a profit from property is good even if the market heads south. Quality areas hold their value because supply is limited and demand is always there, though it too ebbs and flows.
“If you bought this weekend, you might feel like you’ve bought badly for say five years but in 10 years you will prove Chris wrong.
"It depends on where you buy, what you buy, when you buy and all the other smart things to know when investing in anything.”
On shares, fund managers might be dumping BHP shares they bought for $15 earlier this year and which are $22.64 now. That’s still a 50% profit, so it makes good sense to take profits, says Switzer. 
“I bet they’re not selling their CBA shares they bought in 2008 for $28 because the yield is 15% plus franking!
“Timing can determine your ability to make money but you can also make money by buying great assets and holding them.
“We bought a place in Paddo for $54,000 in 1979 and sold it around 1996 for close to $800,000 with a few renovations thrown in. That was a great investment and I bet we lost some of our gain in the 1990-91 recession but we weren’t sellers then, so it didn’t matter.
“When we sold that property we were debt free.”
The surge in property markets means there will be pullbacks and some flatter price periods, while for shares, the pullback could be shorter. Also, fund managers who are taking profits because of global issues such as the US elections, OPEC, an Italian referendum and a possible US interest rate rise in December, may be back soon.
“Smarties make great money by being contrarian and that’s why Warren Buffett recommends you be fearful when others are greedy and vice versa but that takes guts and as the old saying goes — no guts no glory,” said Switzer.
“However, it doesn’t have to be all risky stuff. You can buy great assets and simply hold them and if they pay a nice income — rent, interest or dividends — along the way, you can make money. Don't let the experts and media headlines stop you from making money.”
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jonathanchancellor-7SQnKwU6yx

Don't let experts' bear fear stop you from making money: Peter Switzer

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Property, just like any other investment class, generally follows a cycle where prices rise and fall followed by a recovery. By nature, property is a long-term investment, so tracking these cycles can pay dividends in the long run. 
An often heard property investment mantra is that Australian property values double every decade, especially across the capital cities. But is this really the case?
CoreLogic's senior researcher Cameron Kusher put this theory to the test in a blog earlier this year, analysing home values in the 10 years to 2016 and the 10 years preceding that.  
“Over the 10 years to January 2016, home values across the combined capital cities have increased by a total 72%,” wrote Kusher, which is well short of the doubling theory. Melbourne was the only capital city housing market in which home values doubled over the past decade.  
<img src="/images/2016/09/27/Propertycycle3.png" alt="">
<img src="/images/2016/09/26/CoreLogicCapitalcity1.png" alt="">
In contrast, between January 1996 and January 2006 combined capital city home values rose by 151.7%, more than double the latest figures.
The data is a good example of the property growth cycle, and that despite common belief, growth is not guaranteed or consistent and is tied to economic factors.
<img src="/images/2016/09/27/Screen%20Shot%202016-09-27%20at%203.32.02%20PM.png" alt="" width="548" height="275">
Property cycle at a micro level
LJ Hooker’s national research manager Mathew Tiller says that to get a clear idea of how a market is performing, you need to approach it at a micro level.
"From a national perspective, you could say the real estate market has continual growth," Tiller says. "But, if you look at each individual state and market, than you can see that property fluctuates quite significantly, at different times as well."
The fact is borne out with a comparison between Western Australia and New South Wales. 
Between 2004 and 2008, the mining and resources boom fuelled a rapid growth in WA’s population, around 250,000. More jobs and a low unemployment rate also translated to a rise in property prices. The increase in demand resulted in fierce competition, which pushed the median house price up 93% during this period, according to research by LJ Hooker.
Meanwhile, the NSW property market was experiencing a contraction due to a relatively high unemployment rate, flat population growth and an increase in listings on the market.
"If employment opportunities decrease then demand for housing in those areas can also decrease as the population moves out," says Tiller. 
Fast-forward to 2015, with the mining boom over, Perth's home prices dropped 0.9% over the 12 months to September 2015 while Sydney's dwelling values skyrocketed 16.7%. 
The ups and downs can be explained through the classic economic theory of supply and demand, says Tiller.
"If demand (the number of buyers) exceeds supply (the number of listings), prices will rise, whether that's in terms of house sales or rent prices," he says. "If new supply comes into the market and exceeds demand then prices will fall."
When to invest
CoreLogic RP Data’s Pain and Gain report found that homes that resold at a profit over the June 2015 quarter were held on average 9.9 years. 
Approaching property as a long-term investment logically means that buying at the bottom increases the chances of maximising profit from property.
How to pick the best time to make a shrewd investment is another matter. Tiller recommends doing your research thoroughly and speaking with your local real estate agents to find out about where the area sits in the property cycle.
"There are a number of sources available where you can view the property charts and where the median price of a suburb or an area sits in relation to where it was 12 months ago or two years ago," he says.
Knowing where your area is in the property cycle is one of the keys to a successful investment.
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When to invest in property? Understanding the market cycle

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Local property owners and investors can learn to make the most of the current market at a seminar in Parramatta next Monday organised by Crave Property Advisory and Zenrg Finance.
This comes on the back of recent research that forecasts New South Wales will suffer an undersupply of residential property.
New infrastructure and zoning changes were introduced in 2015 by local and state governments throughout Parramatta and Sydney’s Inner West, which has generated a new pipeline of projects including the Riverside Parramatta project, the ‘New Parramatta Road’ urban renewal project, Parramatta Light Rail, and ‘Western Sydney Airport’.
“As buyers agents we see a range of opportunities out there but find that without advice, people aren’t fully aware of their options. Our aim is to help property owners and buyers make the most of the current market and to ensure they’re making fully informed decisions,” said Debra Beck-Mewing, founder and principal consultant at Crave.
The seminar is on April 11 from 6:30 pm at the Parramatta RSL Club. 
Those who attend the seminar will hear the latest insights from Crave and Zenrg, who will offer independent property guidance. 
Crave hosts a range of seminars throughout the year to provide opportunities to discuss and debate key topical issues relating to property. 
Zenrg Finance has been operating in the local area since 2012 and offers mortgage and finance services for home owners, investors and businesses. It is headed by Allen Chan. 
Crave Property Advisory is an independent buyers agency based in Sydney focusing on the provision of property acquisition and development services Australia-wide.
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Plan to buy or invest in property? Catch this seminar in Parramatta

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Many children look to their parents for property advice. 
And with affordability a real challenge for today's young adults, substantial media attention centres on parents providing financial assistance to their children.
The Melbourne buyers agent Richard Wakelin has noticed never far from the surface of the discussion is an intergenerational tension as to whether young people "deserve" financial help.
"This combative context is unfortunate," says Richard Wakelin, a director of Wakelin Property Advisory, an independent firm specialising in acquiring residential property for investors.
"Not only does it threaten to sour what is generally a wonderful expression of love within a family, but it also obscures a more important role for parents to their child: that of mentor and a source of wise counsel.
"Tread carefully is my advice for parents in these circumstances," he told Fairfax Media recently.
"Follow mum and dad's 1980s-fashioned advice and the kids may end up with a property that isn't home sweet home but a financial burden," he warned.
Wakelin Property Advisory is presenting a webinar How to advise adult children about property 12.30pm, Thursday 29th October. <a href="https://wakelin.com.au/fpb_webinar" target="_blank">Click here to register.</a>
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