<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Joel Robinson

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Investors may soon find themselves with fewer reasons to buy established property and more incentives to look towards the new apartment market.

Proposed changes to negative gearing and capital gains tax concessions would see new and off-the-plan apartments retain access to the tax benefits, while established properties would miss out, creating a clear advantage for buyers purchasing newly built housing.

The policy direction aligns with what many developers have been saying for several years. Australia needs more housing supply, and governments are increasingly looking for ways to encourage investment into new stock rather than existing homes.

The challenge for investors is that suitable product is becoming harder to find.

For much of the last decade, one-bedroom apartments were the cornerstone of investor demand. They offered a lower entry price, strong rental appeal, and were a common feature across most apartment developments.

Today, the development pipeline looks very different.

Across both New South Wales and South East Queensland, developers are increasingly targeting owner-occupiers and downsizers, delivering larger two, three and four-bedroom apartments in response to changing buyer preferences. While one-bedroom apartments still exist, they now form a much smaller portion of many new projects.

That shift has created a shortage of investor-friendly stock, particularly in well-located projects close to transport, employment hubs and lifestyle amenity.

At the same time, rising apartment prices have pushed many new developments beyond the reach of traditional investors. On the Gold Coast and across South East Queensland, it's becoming increasingly difficult to find new apartments priced around the $1 million mark, particularly those offering strong rental fundamentals and long-term growth prospects.

We've rounded up four new apartment developments where investors can still secure a foothold in the market for around $1 million or less.

<h2 data-end="1140" data-start="844">Flourish Soleira</h2>

<h2>Priced from: $1.07 million</h2>

Popular Palm Beach developer Sherpa is soon to officially launch its newest local apartment development, Flourish Soleira.

The one-bedroom apartments in the building were only offered to first home buyers rather than investors, and all of those have been snapped up. The two-bedroom apartments will start from $1.07 million, and the three-bedrooms, still a good investment given the popularity of Palm Beach for owner-occupiers, starting at $2,045,000.

&nbsp;

[smartcode_project:default project_id=150017 project_image_fid=370964]

Flourish Soliera will comprise 153 apartments across two buildings, connected by a skybridge, the first ever delivered in the suburb.

True to Sherpa's booming Flourish brand of apartment projects, Flourish Soleira will have extensive rooftop amenity across both buildings including a&nbsp;wellness centre with gym, work from home, yoga, pilates, a&nbsp;heated pool, private dining rooms, pizza oven and barbecues, basketball court, and golf simulator.

<h2>Corallo, Palm Beach</h2>

Priced from: $841,500

Nearby Flourish Soleira is Changfa Group's beachfront-inspired Corallo development. They still have some one-bedroom apartments remaining, priced from $841,500.

The 105-apartment project on Palm Beach Avenue is otherwise dominated by larger two and three-bedroom residences, many of which are aimed at owner-occupiers and downsizers.

[smartcode_project:default project_id=112194 project_image_fid=808]

For investors, the appeal lies in Palm Beach's continued transformation from a laid-back beachside suburb into one of the Gold Coast's most sought-after residential markets. Residents at Corallo will be within walking distance of Palm Beach's surf beaches, the recreational amenity of Tallebudgera Creek, and the increasingly popular collection of cafes, restaurants and boutique retailers along the suburb's central dining precinct.

<h2>Corner House, Stones Corner</h2>

<h2>Priced from: $880,000</h2>

One of only two Brisbane apartment developments to make the list with prices under $1 million is DeMartini Fletcher's Corner House development in Stones Corner.

One-bedroom apartments start from $880,000 within the 88-apartment development, providing investors with exposure to one of Brisbane's most established inner-south locations.

[smartcode_project:default project_id=149098 project_image_fid=330594]

Stones Corner has long been supported by strong tenant demand due to its proximity to major employment and education destinations. The suburb sits less than five kilometres from Brisbane's CBD and is within easy reach of the Princess Alexandra Hospital, Greenslopes Private Hospital, Queensland Children's Hospital and several university campuses.

The project's location within a walkable urban village environment, surrounded by retail, dining and public transport infrastructure, continues to attract both professionals and healthcare workers seeking accommodation close to work.

Parkdrive Apartments, Chermside

Priced from: $749,000

The most affordable apartments across Brisbane's new and off the plan market are in Chermside where developer AusDev is selling one-bedroom apartments from $749,000, and two-beds from $929,000, at its recently launched Parkdrive development.

The development is strategically positioned in one of Brisbane's largest employment and retail precincts, placing residents within easy walking distance of Westfield Chermside, The Prince Charles Hospital, St Vincent's Private Hospital Northside and the suburb's major bus interchange.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Already under construction and scheduled for completion in early 2028, Parkdrive benefits from Chermside's ongoing evolution into Brisbane's northern metropolitan centre. The suburb continues to attract significant public and private investment, supporting population growth and underpinning long-term rental demand.

For investors focused on yield and tenant depth, the combination of healthcare, retail and transport infrastructure within close proximity provides a strong foundation for occupancy and rental performance.

Investors to turn to new apartments after Federal Government changes spark hunt for Queensland's best $1 million apartments

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

Property Investors

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In the December quarter, the gap between rates for investors and owner occupier borrowers widened, with investors now paying 0.21 per cent more on average, RateCity report.
Despite higher rates for some investors, overall mortgage rates fell for both variable and fixed, with the largest cuts applied to the 3-year fixed rates.
"Interestingly, fixed rates – including 5-year terms – are more competitive than variable rates on average and the gap is widening, making fixed rates an appealing option for some people now," RateCity money commentator Sally Tindall noted.
"However, competition in the variable space is driving sharper deals than fixed.
"For example, variable rates are sitting as low as 3.69 per cent, while one of the lowest 5 year fixed rates is 4.39 per cent," she said.
She noted home loan rates have gone both up and down in the space of three months.
The major banks all chose to hike rates by an average of 0.18 percentage points on the back of APRA’s requirement that they hold more capital while competition at the bottom of the market sharpened with around 25 lenders choosing to cut their lowest variable rates to as little as 3.65 per cent.  
"Unsurprisingly, existing mortgage holders primarily missed out on this news as the majority of these cuts were for new customers only.
"The most dramatic change occurred in investor borrowing where there was a $2.1 billion drop in lending figures in just four months.
"The falls came on the back of the introduction of higher home loan rates for investors of up to 1.44 percentage points, with around half of the market adopting this two-tiered pricing structure. 
"We expect lenders will continue to tweak their home loan products in the year ahead in an attempt to reduce risk and control investor growth including a continued tightening of LVR requirements."
<a href="/images/2016/01/22/Screen%20Shot%202016-01-22%20at%208.55.44%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/22/Screen%20Shot%202016-01-22%20at%208.55.44%20AM.png" alt="">
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jchancellor-FAypfDUnLy

Gap between rates for investors and owner occupiers widening: RateCity

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The weak Australian dollar is good news for Australian expats!
They can invest in property cheaper from money earned abroad.
Australians who bought property in the US during the global financial crisis when housing prices crashed in many parts of the country, including Las Vegas, can reap the benefits now as a stronger US economy and dollar mean rising rental income and strong capital growth. 
The Australian dollar fell to six-year lows in September. It has recovered since then, and was hovering around 0.71 to the US dollar by late December.
A weak local dollar would only mean those Australians who brought property in US can now find a profitable route to bring their money home: invest in property in Australia.
According to Greville Pabst, chief executive of property valuers and consultants WBP Property Group, a falling Aussie dollar represents positive news for expatriates, with the improved conversion rate giving them “greater buying power”.
 
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j.ballantyne1990-6AQqhLzZaK

Expats cashing in on weak Aussie dollar for property investment

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There are tax issues for Australians living overseas but who want to buy property back home.
It in important the familiarise themselves with Australian tax obligations to avoid nasty surprises from the ATO.
Among the first things to establish is the tax residency status. They will be treated as tax resident of Australia if they meet certain criteria.
Some of the things that determine residency include nationality, where you were present and for how long, where you have a home, and your economic and business ties with the country. 
If you have stayed in Australia for more than six months of the financial year (1 July to 30 June), you will be a tax resident of Australia.
Then there's the domicile. If your domicile remains in Australia and you do not have a permanent place of residence overseas, you will be treated as an Australian tax resident.
If you are a tax resident of Australia, your worldwide income and capital gains are generally subject to Australian tax.
For non-residents, only income earned in Australia and capital gains on ‘Taxable Australian Property’ are taxable in Australia. Any income or capital gain from a property in Australia will always be treated as having been sourced in Australia, hence taxed.
Also watch out for countries with Double Tax Agreement (DTA) with Australia, where the provisions of the DTA may override the domestic law in both Australia and the other country.
If the other country also taxes the same income or capital gain, Australian tax rules generally provide a foreign income tax offset on any foreign tax paid on the same income or capital gain.
There is no substitute for professional tax advice.
Take the common example of an Australian expatriate who buys a home back in Australia while still resident of another country, including for tax purposes.
The house rented until the expat eventually returns to Australia, when it will become the family’s home.
The capital gains tax (CGT) treatment when the home is eventually sold will be influenced by the length of time when the property was not the expat’s main Australian residence.
An expat’s CGT position after owning the property for 10 years but home for only the final two of those years, would, according to Joe Galea, property tax partner for accountants Deloitte in Sydney, see a fifth of any net capital gain taxable.
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jonathanchancellor-7SQnKwU6yx

Australian expatriates are to watch their tax obligations

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GUEST OBSERVER 
Dwelling approvals: Dwelling approvals rose by 3.9 % in October, boosted by a 10.6 % increase in apartment approvals. Over the past year a record 233,180 new homes were approved.
The terms of trade (ratio of export to import prices) fell by 2.4 % to a 9-year low of 83.3 in the September quarter. But the terms of trade is still up 4 % on the 20-year average.
Record foreign debt: Net foreign debt rose by $25.5 billion to a record $993.8 billion as at the end of the September quarter.
Trade sector adds to economic growth: Net exports (exports less imports) will add 1.5 percentage points to economic growth in the September quarter. CommSec estimates that the economy grew by 0.9 % in the September quarter to be up 2.5 % over the year.
China purchasing manager indexes: The National Bureau of Statistics measure for manufacturing fell from 49.8 to 49.6 in November; the services index lifted from 53.1 to 53.6.
What does it all mean?
Courtesy of stronger demand for our exports, we expect the economy grew by almost 1.0 % in the September quarter. Last quarter media were comparing Australia to Greece after the economy grew by just 0.2 %. Will we see media comparing our economy with India or China if the economy grows as expected in the September quarter?
We can never become too complacent with our foreign debt position. In the past quarter our debt levels rose to almost $1 trillion dollars – not an event we should celebrate. The good news is that Australians are also investing overseas with latest data at record highs.
Dwelling approvals lifted by healthy 3.9 % October. From a longer term sense the lift in home building over the past couple of years has been extraordinary. Over the past year a record 233,180 new homes were approved – a boom that will continue to support economic activity over the next 12-18 months. Interestingly with the tightening in bank lending standards, it is pretty clear that the lift in supply should result in a much more balanced housing sector - as was highlighted by the pullback in home prices in five of the eight capital cities last month.
<a href="/images/2015/12/1/Screen%20Shot%202015-12-01%20at%203.56.03%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/1/Screen%20Shot%202015-12-01%20at%203.56.03%20PM.png" alt="" width="803" height="275">
What do the figures show?
 Building Approvals:
Dwelling approvals rose by 3.9% in October after rising 2.3% in September.  Over the past year a record 233,180 new homes were approved.
House approvals fell by 2.1% in October (private sector fell by 2.1%). Meanwhile ‘lumpy’ apartment approvals rose by 10.6% in October after rising by 7.5% in September. Private sector apartment approvals rose by 10.6% in October.
Dwelling approvals are up 12.3% on a year ago with house approvals down by 2.3% while apartments are up by 30.2%.
Across states and territories in October: NSW approvals rose by 22.0%; Victoria rose by 21.2%; Queensland fell by 28.7%; South Australia rose by 23.4%; Western Australia fell by 1.1%; Tasmania fell by 41.6%. In trend terms, approvals rose by 7.1% in the Northern Territory and fell 10.8% in the ACT.
The value of all commercial and residential building approvals rose by 6.4% in October after falling by 2.7% in September. Residential approvals rose by 9.8% with new building up by 10.5% while alterations &amp; additions rose by 3.7%. Commercial building fell by 1% in October to be up 19.6% over the year.
 Balance of Payments
The broadest measure of Australia's external position -  the current account – improved in the September quarter (smaller deficit), with the deficit falling from $20,506 million to $18,104 million.
The balance of goods and services was in deficit by $7,438 million after a $10,946 million deficit in the June quarter. Exports rose in real terms by 5.4% while imports fell by 1.8%.
At the end of the June quarter,  net foreign equity was $70.99 billion – essentially Australians own more assets overseas than foreign investors own here in Australia. And the positive net foreign equity position rose by $7.37 billion over the September quarter.
The trade sector (exports less imports) will add 1.5 percentage points to economic growth in the September quarter.
Terms of trade (ratio of export to import prices) fell by 2.4% to 83.3 in the September quarter – lowest level since June quarter 2006. But the terms of trade is still up 4.0% on the 20-year average.
Net foreign debt rose by $25.5 billion to a record $993.8 billion as at the end of the September quarter.
The debt servicing ratio (net income on foreign debt to goods and services credits) worsened from 7.4% to 7.7% in the September quarter.
 Government Finances
Government consumption spending rose by 0.7% in the September quarter after a 1.7% increase in the June quarter. But total public investment fell by 9.2% in the September quarter after rising by 2.1% in the June quarter. Overall, spending by the government sector  fell by 1.2% in the September quarter after rising 1.8% in the June quarter.
<a href="/images/2015/12/1/Screen%20Shot%202015-12-01%20at%204.07.51%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/1/Screen%20Shot%202015-12-01%20at%204.07.51%20PM.png" alt="" width="609" height="199">
 
 Consumer sentiment
The weekly ANZ/Roy Morgan consumer confidence rating fell by 1.7 points (1.5%) to 112.8 in the week to November 29 Confidence is down 1.0% over the year but above the average of 111.7 since 2014.
Just two of the five components of the index rose in the latest week:
The estimate of family finances compared with a year ago was  down from +9 to +4;
The estimate of family finances over the next year was  up from +23 to +25;
Economic conditions over the next 12 months was  down from +2 to -2;
Economic conditions over the next 5 years was  down from +10 to +6;
The measure of whether it was a good time to buy a major household item was  up from +28 to +31.
What is the importance of the economic data?
The Bureau of Statistics' monthly  Building Approvals release contains figures on local council approvals to build residential structures such as homes and units as well as commercial premises such as offices and shops.
Approval is one of the first stages of the construction ‘pipeline’ and is thus a key leading indicator of future activity.
An increase in approvals would point to stronger future activity for construction-related companies.
The quarterly Balance of Payments figures have few short-term effects on financial markets. The importance of the data is merely to highlight Australia’s trading position with the rest of the world as well as the contribution of foreign trade (exports less imports) to the latest estimates of economic growth.
The ANZ/Roy Morgan weekly survey of consumer confidence closely tracks the monthly Westpac/Melbourne Institute consumer sentiment index but the former measure is a timelier assessment of consumer attitudes and is now closely tracked by the Reserve Bank.
What are the implications for interest rates and investors?
The near $1 trillion in foreign debt will serve as a brake on the Aussie dollar, which at present seems a little high compared with the level of commodity prices.
A solid reading on economic growth in the September quarter will ensure that the Reserve Bank stays on the interest rate sidelines.
 
Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.
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Exports to lift growth, record building approvals: CommSec's Craig James

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Officialdom decided last December that property investor lending needed to be restrained given the emerging trend of more money being lent to investors than owner occupiers.
The Australian Prudential Regulation Authority introduced a cap on allowable growth in bank lending on residential investment loans.
This eventually impactful decision got lost amid the seasonal Christmas break, and further from mind when the Reserve Bank of Australia cut the cash rate to 2.25% at its opening February 2015 meeting.
Growth in credit extended to investors had increased by 10% during 2014, right on the APRA threshold for its intended stricter scrutiny of lending practices.
Owner-occupier credit growth had at around 5.5%.
Of course APRA was technically not targeting house price levels – but rather setting benchmarks for a safer banking system.
The early 2015 auction competition saw no handbrake in the battle between home buyers and investors.
Reaching fever pitch, clearance rates peaked in March at 82%, according to CoreLogic RP Data, with properties typically knocked down at record prices especially in cheaper outer Sydney districts where auction had never been the normal means of sale.
It was soon obvious that the subtle backroom macroprudential measures needed to be intensified.
The jawboning by the RBA and APRA became more emphatic. The banks were told to look at loan-to-valuation ratio limits which made it harder to get an investor loan. Interest only loans became a rarity. Off the plan buyers were told they'd need to fund 20% of their apartment purchases. Finance approvals for house and land lots were being delayed until preliminary works had been completed. One bank even stopped all new lending to investors.
Events and issues then combined that further unnerved the housing market. There were signs of a retreat in foreign buyers as Treasurer Joe Hockey launched his crackdown on overseas buyers who were boosting prices in select suburbs. Financial inquiry chief David Murray raised the prospect of negative gearing reform. Doubt was cast over the future of self managed super funds being able to borrow.
In May Treasury secretary John Fraser warned that Sydney was in a housing bubble. The RBA governor Glenn Stevens wasn't wrong in June when he said some crazy prices were being paid. 
Against a backdrop of high household debt, subdued income growth and fluctuating unemployment, the negativity clincher came after the banks raised home loan rates in mid-October given long foreshadowed rules forcing banks to hold larger loss-absorbing capital buffers.
By this time the entire Sydney property market was primed to be spooked. Auction clearance rates - which are a good sign of market sentiment and price growth - swiftly fell in the outer suburbs dipping sometimes into the 40s. Traditional auction hotspots, Sydney's inner west and eastern suburbs then took fright too.
Buyers just were not as prevalent - especially investors - and those who turned up kept their bidding restrained.
It is not quite lights out for the investor, but it has been getting darker, was how the valuation firm Herron Todd White has described the turn of events.
"We see the will is still present, but the ability to finance the dream is diminishing,' its November review advised as APRA's measures now extend well beyond the Sydney market into regional NSW.
The Australian Prudential Regulation Authority (APRA) recently released Quarterly Authorised Deposit-taking Institution (ADI) Property Exposures for the September 2015 quarter showing the slowing in lending to investors. The publication contains information on ADIs’ commercial property exposures, residential property exposures and new housing loan approvals. 
Key statistics for ADIs (excluding Other ADIs) for September 2015 were:  
<table border="1"><tbody>
<tr>
<th id="header1"> </th>
<th id="header2">September 2014</th>
<th id="header3">September 2015</th>
<th id="header4">Change</th>
</tr>
<tr>
<td headers="header1">Total commercial property exposures</td>
<td headers="header2" align="center">$224.5 billion</td>
<td headers="header3" align="center">$240.4 billion</td>
<td headers="header4" align="center">+7.1%</td>
</tr>
<tr>
<td headers="header1">Commercial property exposures within Australia</td>
<td headers="header2" align="center">$185.8 billion</td>
<td headers="header3" align="center">$201.1 billion</td>
<td headers="header4" align="center">+8.2%</td>
</tr>
<tr>
<td headers="header1">Total domestic housing loans</td>
<td headers="header2" align="center">$1,243.3 billion</td>
<td headers="header3" align="center">$1,354.8 billion</td>
<td headers="header4" align="center">+9.0%</td>
</tr>
</tbody></table>
 Key statistics for ADIs with greater than $1 billion in housing loans for September 2015 were: 
<table border="1"><tbody>
<tr>
<th id="header1"> </th>
<th id="header2">September 2014</th>
<th id="header3">September 2015</th>
<th id="header4">Change</th>
</tr>
<tr>
<td headers="header1">Number of housing loans</td>
<td headers="header2" align="center">5,086.7 thousand</td>
<td headers="header3" align="center">5,422.8 thousand</td>
<td headers="header4" align="center">+6.6%</td>
</tr>
<tr>
<td headers="header1">Average balance of housing loans</td>
<td headers="header2" align="center">$240,000</td>
<td headers="header3" align="center">$246,000</td>
<td headers="header4" align="center">+2.5%</td>
</tr>
<tr>
<td headers="header1">New housing loans approved in the quarter</td>
<td headers="header2" align="center">$84.8 billion</td>
<td headers="header3" align="center">$95.0 billion</td>
<td headers="header4" align="center">+12.0%</td>
</tr>
</tbody></table>
The Australian Prudential Regulation Authority data on showed the value of loan approvals for property investors fell to $32.39 billion in the three months to September 30 down from $40.55 billion in the June quarter.
Loans to property investors made up around 35 per cent of new lending approved in the September quarter, the lowest in the past two years, and down from around 43 per cent in the June quarter.
Analysts however are treating the data with some caution as <a href="/news/rba-concerned-at-inaccuracy-of-housing-lending-data-by-banks">several banks have been busy reclassifying billions of dollars in home loans</a>.
This article was first published in the Saturday Daily Telegraph.
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The APRA impact on 2015 property investment

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GUEST OBSERVER
September’s 1.6% fall in total housing-related lending was driven by a big fall in lending to investors partially offset by an increase in lending to owner-occupiers (O-Os).
 The ABS housing finance publication contains a glut of information on lending for housing-related purposes. We trawl through the key figures below: 
O-Os: There has been solid growth in lending to O-Os over the past year and this continued in September. By value lending is up a sizeable 23.1% through the year and by number it’s up 8.4%. A material increase in the average loan size largely explains the difference between lending by value and by number. In September the average new loan size for an O-O was a record $379k – up 18.0% through the year. In NSW the average new loan size for an O-O was 449k while it was $379k in Victoria. Record low mortgage rates have helped contribute to a lift in average loan size because the capacity to borrow rises when borrowing costs fall. 
Investors: In the last few months lending to investors has cooled quite sharply following exceptional growth for much of the past two years. There is now plenty of evidence that indicates measures introduced by a number of banks to slow investor-related lending are having an impact. In addition, a slow decline in rental yields due to strong dwelling price appreciation is acting as a natural restraint on lending growth to investors. We expect this trend to continue over coming months in line with cooling auction clearance rates.
<a href="/images/2015/11/10/Screen%20Shot%202015-11-10%20at%203.02.10%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/10/Screen%20Shot%202015-11-10%20at%203.02.10%20PM.png" alt="">
 
Construction: Total lending for dwelling-related construction was flat in September and has eased off in recent months. This is consistent with the recent tapering off in building approvals growth. The lag between finance/approvals and construction means that residential construction will remain buoyant deep into 2016. Dwelling construction generates jobs and the multiplier effect benefits other sectors of the economy. A further positive for construction was that lending for alts and adds rose by a solid 6.4% and sits 14.9% higher on year ago levels. 
<div class="page" title="Page 1">
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<div class="column">
States: The data on O-Os by State in September shows that annual growth in the number of loans is strongest in NSW (+20.4%), followed by Victoria (+10.1%) and SA (+8.7%). It is negative in QLD (-0.4%), WA (-6.2%), and Tasmania (-11.0%). 
<a href="/images/2015/11/10/Screen%20Shot%202015-11-10%20at%203.03.24%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/10/Screen%20Shot%202015-11-10%20at%203.03.24%20PM.png" alt="">
An update on lending to investors by State will be in Friday’s Lending Finance publication. 
First home buyers: The number of loans to first home buyers rose by 6.2% in September. First home buyers represent just 15.4% of all dwellings financed – close to record lows.
</div>
</div>
<div class="layoutArea">
<div class="column">
All up, today’s data print is consistent with other indicators of the housing market which show that activity is moderating. Policymakers are likely to welcome the latest slowdown in housing credit growth particularly given business credit growth has picked up. The different parts of the credit space are evolving in the directions that policymaker’s desire. 
</div>
</div>
</div>
Gareth Aird is economist at Commonwealth Bank and can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/gareth-aird/14/790/905" target="_blank">here</a>.
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Housing lending growth slows as investor appetite wanes: CBA's Gareth Aird

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The Wakelin Property Advisory is not convinced there will be a huge switch of investors from Sydney to Melbourne off the back of a softening Sydney market. 
“The Sydney slowdown isn’t causing our phones to ring off the hook with Sydney investors looking at the Melbourne market," Paul Nugent told Fairfax Media this week.
"Investors in these two cities tend to stick with their home town. 
"Melbourne may benefit at Sydney’s expense more from investors from other parts of Australia and overseas looking to invest in residential property in a major Australian capital city," he suggested.
“Although we expect Melbourne’s growth will be quite modest in coming months off the back of unusually strong spring and early summer supply, there does seem to be enough energy in the market to suggest Melbourne will replace struggling Sydney as the ‘growth’ capital for the next few months.”
Melbourne buyers advocate Richard Wakelin recently advised clients the Melbourne CBD could stand for Could Be Dangerous - especially when buying highrise, non-descript, cookie-cutter units.
Paul Nugent of Wakelin Property Advisory and Stuart Wemyss of ProSolution Private Clients will discuss strategies for young adults to enter the property market in an upcoming webinar.
The one-hour webinar starts at 12.30pm on Thursday 29 October. You can register <a href="https://wakelin.com.au/fpb_webinar" target="_blank">here</a>.
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No switch between Sydney and Melbourne foreseen: Wakelin

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Southport has been attracting more commercial tenants and investors in the recent times resulting in decreasing office vacancy and rising capital values, according to Colliers International.
Southport is the largest commercial precinct on the Gold Coast with over 150,000sqm of office space.
Cameron Wilson, director in charge at Colliers International on the Gold Coast, said Southport’s office vacancy rate is expected to further tighten over the coming three years with the upcoming Commonwealth Games and Queensland Government’s Priority Development Area designation and provisions being the key drivers.
“Current office vacancy in Southport is assessed at 13.8%; five years ago this figure was close to 22%. As a result rental rates are firming and with that, capital values are rising and investment yields are compressing," he said.
“Two years ago, there was over 5,000sqm of small strata offices for sale in Southport Central that were achieving prices of around $2,200 to $2,700 per square metre. In the last 6 months we have seen this on market rate decline to around 1,500sqm and a rise in capital values of about 20 per cent, which equates $2,500 to $3,200 per square metre.
“Colliers International is aware of several tenants relocating into Southport to take advantage of Queensland Government provisions and ease of planning, with the top two industries moving into the area being educational/training providers and health/medical groups.
“Over the past 12 months, sales of major commercial holdings in Southport indicate a strong appetite from investors looking to secure a foothold into the area for both passive investment and future mixed use developments." 
According to James Crawford, director of investment services at Colliers International, Gold Coast City Council’s infrastructure developments in the area are supporting its growth.
“Recent Smith Street Motorway upgrades have improved commuter access during peak times. In addition to this the Broadwater Parklands Stage 3 upgrade is well underway and continues to improve the overall amenity."
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 Southport commercial office market heating up‏

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Since the winding back of the federal government’s post-GFC stimulus package, Australian property markets have broadly produced underwhelming returns.
Over the last two years, Sydney and Melbourne have been strong. Conversely, Perth and Darwin markets are receding and it is likely to be some time before the clouds lift.
Approximately 70% of properties throughout Australia are worth much the same today as they were five years ago.
Recent jobs data for Sydney and Melbourne has been impressive an I believe that there will be further growth in to the New Year, albeit at more moderate levels than we’ve recently seen.
First home buyers who are concerned about being squeezed out of Sydney and Melbourne markets might reconsider what they are wishing for.
We’ve observed a refreshing trend wherein more people are realising that rent-money isn’t necessarily dead-money.
Deposit monies can be made to work harder through investing it in one of the (strategically-chosen) 9.6 million properties across the country as opposed to limiting the potential return on investment by choosing a property that must meet the specific personal requirements of a family home.  
While our research provides us with great confidence about the outlook for Sydney’s economy, the lack of housing affordability will result in lower rates of growth over the medium term compared to many other locations.
Melbourne is a different story; I have consistently stated we have considerable concerns about the impact which the closure of three car manufacturing plants will have on Melbourne’s market from late-2016 onwards.
Record low interest rates combined with the FOMO (fear-of-missing-out) effect amongst Sydney and Melbourne residents has resulted in heightened investor activity.
A large majority of client enquiries received over the last six months have been from southern-based investors looking to invest in Brisbane.
While we believe Brisbane’s outlook is sound, its economy is not as robust as Sydney and Melbourne.
We have done some investing in Brisbane however, Propertyology has been actively helping investors to get in to alternative markets around Australia that we believe have better potential.
Generally speaking, market fundamentals across the country are sound although the missing ingredient continues to be confidence.
Building approval data from the last couple of years have been at record levels and most of the new supply is focused on capital cities. This, combined with APRA enforced tighter credit conditions, is likely to result in moderated rates of price growth. 
An eventual reduction in property transaction volumes will mean lower taxation revenues for all levels of government. Regulators appear to have over-reacted by applying across the board policy changes in attempt to de-stimulate markets in 30% of the country (Sydney and Melbourne) whereas the other 70% of the country would actually benefit from stimulus.
With the level of investor stock expected to rise in Australia’s biggest cities pressure on rents is likely to ease and rental yields will soften.
Four of the six cities which Propertyology is currently investing in are strong regional locations which have a diverse mix of industry drivers, very affordable housing, and controlled rates of supply.
Whilst Propertyology does not publicly disclose exactly where we are investing, we believe that the stronger markets over the medium term will contain specific industries within their economic profile. These include agriculture, international students, tourism, manufacturing of premium goods, health, and professional services.
 
Simon Pressley is Managing Director of Propertyology, a REIA Hall Of Fame Inductee, property market analyst, accredited property investment adviser, and Buyer’s Agent. <a href="https://www.propertyology.com.au/more-than-a-buyers-agent/" target="_blank">Propertyology works exclusively with property investors</a> to purchase properties in strategically chosen locations all over Australia.
 
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spressley-sBoeMhannA

Fear-of-missing-out investor activity driving Spring outlook: Simon Pressley

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Real estate agent John McGrath has given his tips on what property investors should do in a softening rental market, adding the current market situation is great news for renters.
In an opinion piece for Peter Switzer's Switzer Daily, McGrath said rental growth might be slowing down but it’s not going backwards, so many landlords won’t be in a position where they have to reduce rents, they’ll just have to keep them at the same level for a while. 
He wrote that more properties available for rent means more options for a growing community of renters – especially Gen Y Australians, many of whom have resigned themselves to a life of renting in expensive cities like Sydney. 
"When supply increases, landlords need to be extra careful to keep their tenants happy. The most important thing is responding to their needs – quickly. Don’t delay small repairs – accept the cost (which is almost always tax deductible or at least depreciable) and get it fixed. If your tenant believes you will look after them, the allure of a slightly better value option down the road won’t be enough to make them move out," McGrath said.
"If your property is going onto the market at a time of increasing supply, do something to make it stand out. You need to ‘wow’ tenants when supply is high. If your property looks well-kept, that will take it to the top of the list. Quality is important to tenants – remember, this is going to be their home.
"In terms of the importance of rental returns to landlords, of course we all want to receive the maximum yields possible. We’re in the game to make money, after all. But in the grand scheme of things, I have always seen rental yields as less important than capital gains. If you’re looking at buying an investment property, consider the potential for capital gain first. Don’t go buying a high yielding property that has little potential for growth in value. It won’t serve you well in the long run."
He added the ideal scenario is to have some blue chip investments in your portfolio that are delivering reliable long-term capital growth; and a couple of cheaper properties that deliver a great yield to help you afford the repayments on the blue chips (which are often negatively geared as high quality properties cost more to buy!). 
Rents across capital cities.
Median rents across the capital cities 
<ul>
<li>Sydney Houses $610 pw | Apartments $536 pw</li>
<li>Melbourne Houses $456 pw | Apartments $404 pw</li>
<li>Brisbane Houses $436 pw | Apartments $408 pw</li>
<li>Perth Houses $472 pw | Apartments $419 pw</li>
<li>Adelaide Houses $373 pw | Apartments $317 pw</li>
<li>Canberra Houses $504 pw | Apartments $403 pw</li>
<li>Darwin Houses $575 pw | Apartments $459 pw</li>
<li>Hobart Houses $343 pw | Apartments $298 pw</li>
</ul>
To view the original article on the Switzer Daily, <a href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert/what-to-do-in-a-softening-rental-market/" target="_blank">click here.</a>
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