Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Joel Robinson

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

The Walden pairs house-scale living with North Sydney connectivity

The ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers, with no income caps and no property price thresholds from 1 July.

The move, announced as part of the ACT Budget, completes a key election commitment from the Barr Government and removes what Chief Minister Andrew Barr described as one of the biggest barriers to entering the housing market. The reform forms part of the ACT's long-running transition away from transaction taxes and towards a broader-based property tax system.

"This budget marks a major milestone in our long-term tax reform program," Barr said, adding that the government had maintained a sustained focus on removing barriers to home ownership. He said stamp duty had long been one of the largest upfront hurdles facing buyers and that from July, "that barrier is gone" for first home buyers in the Territory.

[smartcode_project:default project_id=139989 project_image_fid=350986]

The changes come alongside a range of measures designed to encourage new housing supply, including support for the delivery of so-called "missing middle" housing such as terraces, townhouses and low-rise multi-unit developments.

The announcement has renewed debate around whether the ACT's approach could provide a blueprint for improving housing affordability nationally.

New research from OurTop10.com.au, conducted by Primara Research, suggests the Territory's decade-long reform agenda has produced outcomes unmatched elsewhere in Australia.

While stamp duty costs have increased by an average 67 per cent nationally over the past decade, the ACT has recorded growth of just 15 per cent, the lowest increase of any jurisdiction.

The Territory has also emerged as one of the strongest performers on housing delivery. Based on population-weighted housing targets, the ACT is sitting less than one per cent behind its target. Victoria is the next closest at seven per cent behind, while the national average sits 25 per cent below target. New South Wales is tracking 39 per cent behind.

The latest reform removes one of the final barriers facing first home buyers in Canberra.

[smartcode_project:default project_id=139989 project_image_fid=359152]

The average Australian home buyer currently pays $61,714 in stamp duty. In the ACT, that figure is $38,399 despite the Territory having the third-highest median house price in the country.

Until now, the ACT's first home buyer concession scheme only applied to purchases up to $1.02 million, around $51,000 below Canberra's median house price of $1.071 million. In practical terms, many first home buyers were unable to access the median-priced home without losing the concession.

From July, those restrictions disappear.

Every first home buyer in the ACT will pay no stamp duty, regardless of income or purchase price.

Canberra remains one of Australia's most expensive housing markets, with dwelling values increasing 82 per cent over the past decade. However, that growth ranks only 11th among Australia's 15 major housing markets, suggesting affordability pressures have been less severe than in many other parts of the country.

Simon Ma, CEO of OurTop10.com.au, said the latest reforms recognise that many first home buyers have simply outgrown thresholds set years ago.

"Many first home buyers aren't just looking for a way onto the ladder, they want a home their family can actually live in," Ma said.

"In a market where the median house price is over a million dollars, a concession scheme that cuts out at $1.02 million was never going to get them there.

"Removing the ceiling entirely means ACT first home buyers can now pursue the home they actually want, rather than limiting themselves to a price point designed for a very different market."

Whether other states follow remains to be seen. But at a time when most jurisdictions are struggling to improve affordability while also increasing housing supply, the ACT has quietly become the national test case for both.

15% stamp duty growth. Just 1% off the national housing target. Zero stamp duty for FHBs. Is the ACT the blueprint for the great Australian dream?

ACT abolishes stamp duty for first home buyers

A rooftop pool and spa overlooking the Brisbane CBD, private dining spaces, expansive landscaped gardens and a residents' lounge are set to crown <a href="https://www.apartments.com.au/new-apartments/callista-on-park-west-end-49-mollison-street-west-end-qld-4101">Callista on Park</a>, the final residential building within Brisbane's West Village precinct.

The rooftop amenity collection has been designed as an extension of the lifestyle already established throughout West Village, providing residents with a series of indoor and outdoor spaces that capitalise on the building's elevated position above West End.

A swimming pool and heated spa form the centrepiece of the rooftop offering, surrounded by landscaped gardens developed through a collaboration between developer Sekisui House and ASPECT Studios. The design incorporates expansive lawn areas surrounded by English garden-inspired planting.

[smartcode_project:default project_id=134800 project_image_fid=370648]

Residents will also have access to two barbecue and outdoor dining areas positioned to take advantage of views across Brisbane's skyline, neighbouring Mollison Park, and the surrounding inner-city landscape.

For larger gatherings, the rooftop includes a private dining room centred around a substantial stone island bench, complete with a full kitchen and a 10-seat dining table set beneath four-metre-high ceilings. The space has been designed to overlook both the rooftop gardens and the Brisbane CBD skyline.

A separate residents' lounge provides an additional indoor retreat connected to the broader rooftop amenity offering, creating another space for residents to work, relax or entertain guests.

[smartcode_project:default project_id=134800 project_image_fid=370647]

The attention to detail extends beyond the rooftop.

Upon arrival, residents will enter through a lobby featuring a bespoke ceiling light installation developed in collaboration between Sekisui House and Alcorn Middleton Architecture. The arrival experience is complemented by private resident mailboxes and carefully considered interior finishes designed to reflect the premium positioning of the building.

[smartcode_project:default project_id=134800 project_image_fid=372541]

The amenity offering forms part of Callista on Park, the final residential release within the decade-long transformation of the former Peters Ice Cream Factory site into West Village, one of Brisbane's most established mixed-use communities.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and being delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, Callista represents the most premium residential offering within the masterplanned precinct.

Construction is now entering its final stages, with scaffolding beginning to come down and completion expected in the first quarter of 2027.

Prices for the three-bedroom plus MPR apartments start from just over $2.6 million.

[smartcode_project:default project_id=134800 project_image_fid=351535]

Callista will mark the final opportunity to purchase within West Village, where residents have direct access to more than 35 retail, dining, wellness and medical operators including Harris Farm Markets, Woolworths, Function Well and Goodlife Health Clubs, Metro Arts, and a growing collection of restaurants and cafés.

Located just 800 metres from the Brisbane CBD, the precinct also places residents within walking distance of South Bank, West End's dining scene, riverfront parklands and major public transport connections.

For Sekisui House, which has delivered more than two million homes globally, Callista serves as the concluding piece of the West Village masterplan, bringing together the precinct's heritage character, parkland setting and emphasis on walkability in a final collection of larger-format residences.

[smartcode_project_cta:default project_id=134800]

Rooftop pool, private dining and skyline gardens to crown West Village's final apartment release, Callista on Park

<a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a>’s enduring appeal has long been tied to its balance of bushland, established amenity, and access to some of Sydney’s most respected education and healthcare institutions.

Along Fox Valley Road, that combination is becoming increasingly sought after by buyers looking to remain connected to the Upper North Shore lifestyle while prioritising walkability, wellbeing, and convenience.

Developer Capital Corporation's initial vision of a 62-hectare site on Fox Valley Road was that they could create their own walkable community, bordered by&nbsp;more than 25 hectares of bushland and adjoining Coups Creek.

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="b84917a1-0d75-49b9-888c-ddf7ebfd6692" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/NEW2026_Wahroonga_Walkway.gif?VersionId=Gk3_xi5ssYfalmwuQQ5umQakddceC31j" />

<a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> draws directly on the area’s natural landscape, with walking trails and green corridors linking into sections of Lane Cove National Park. The surrounding network of bushwalks, cycling tracks, and reserves reinforces the suburb’s long-standing reputation as one of Sydney’s most nature-oriented residential pockets, while still maintaining close ties to village retail and transport infrastructure.

The address places residents within minutes of Wahroonga and Turramurra villages, where cafés, local grocers, boutiques, and everyday services support a highly localised lifestyle. Popular nearby venues including The Fox Café and Breeze Valley Café provide easy options for morning coffee or casual dining, while longstanding retailers such as IGA Wahroonga Fresh and Novella Fine Books continue to anchor the area’s village character.

&nbsp;

<img alt="Wahroonga" data-entity-type="file" data-entity-uuid="c4a950f7-4f05-4370-b360-b106359788e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2026_Wahroonga_Entry_Gates.gif?VersionId=7n5kh9ymu.azYEYDemJkPgiIAfSw44oj" />

Healthcare access remains one of the defining locational advantages of the estate. Sydney Adventist Hospital, known locally as The San, sits directly adjacent and is one of the largest and most respected private hospitals in New South Wales. The hospital precinct incorporates specialist medical services, radiology, physiotherapy, and outpatient care, contributing to growing buyer demand from downsizers and owner-occupiers seeking long-term convenience and peace of mind.

Research commissioned by Capital Corporation found that health and wellbeing considerations are increasingly influencing downsizing decisions, particularly among buyers wanting to remain within familiar neighbourhoods while accessing medical infrastructure more easily.

Education has also historically underpinned demand across Wahroonga and the broader Upper North Shore. The estate sits close to several of Sydney’s leading private and independent schools, including Knox Grammar, Abbotsleigh, Barker College, Pymble Ladies’ College, Ravenswood School for Girls, and Loreto Normanhurst. Co-educational options including Wahroonga Adventist School and Sydney Adventist School further strengthen the area’s appeal to established families looking for long-term schooling pathways within a tightly held catchment.

[smartcode_project:default project_id=135247 project_image_fid=262183]

Transport connectivity supports the suburb’s liveability without compromising its quieter residential character. Wahroonga and Turramurra train stations provide direct rail access into the Sydney CBD, while the nearby Pacific Highway and M1 motorway strengthen links across the North Shore and broader metropolitan area. At the same time, the heavily treed streetscape and low-density character continue to distinguish the precinct from more urbanised parts of Sydney.

The Residences at Wahroonga Estate forms the first stage of <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a>’s broader masterplanned vision for the precinct, delivered alongside the Seventh-day Adventist Church.

[smartcode_project:default project_id=135247 project_image_fid=364995]

Designed by <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>, the development integrates landscaped communal spaces including a pet-friendly Green Spine, resident lounge, BBQ pavilion, and direct bushland access, reinforcing the project’s focus on outdoor connection and community-based living.

Now under construction by Gold Star iCIRT-rated builder <a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>, The Residences at Wahroonga Estate will deliver a collection of one, two, and three-bedroom apartments priced from $990,000, with completion anticipated in 2027.

[smartcode_project_cta:default project_id=135247]

Capital Corporation to cater to Upper North Shore downsizers by creating walkable community at The Residences at Wahroonga Estate

Property Management

<html><body>
A recent industry survey conducted by the Real Estate Institute of Queensland (REIQ) reveals that Property Managers across Queensland’s real estate industry have performed more than double the amount of ‘heavy lifting’ when it comes to rent negotiations between landlords and rental tenants.
This is outside of the Palaszczuk Government’s Residential Tenancies and Rooming Accommodation (COVID-19 Emergency Response) Regulation 2020.
REIQ CEO Antonia Mercorella says industry data like this is vital to help understand the essential nature of the real estate sector during unique circumstances such as the COVID-19 pandemic and its role in supporting the broader Queensland economy.
“This member survey aimed to identify a whole-of-industry snapshot in regards to the important role and to what scale our sector played in negotiating temporary reduced rents on behalf of more than 14,000 rental tenants with their landlords,” explains Ms. Mercorella. “Real estate professionals manage close to 600,000 Queensland households through property management services. The demand for more effective recognition of our industry during any future crisis of this nature is now more apparent, with property managers overseeing more than a double caseload of temporary rent reduction requests from tenants suddenly faced with the inability to fulfil their rent obligations.”
With over 1,200 REIQ property management member agencies surveyed throughout Queensland, the results show that only 6.05% of residential rental tenants qualified as “COVID-19 impacted” under the State Government’s COVID-19 Emergency Response Regulation. This represents approximately 3,950 renters from a State total in excess of 577,000 residential tenancies (Census, 2016). A tenancy is generally deemed to be “COVID-19 impacted” if a tenant is impacted by COVID-19 in certain ways and in addition, the tenant has suffered a loss of income of 25% or more, or the rent payable is 30% or more of a person’s income. A majority of negotiations achieved a satisfactory outcome regarding temporary rent reductions, with fewer than 800 referred to the Residential Tenancies Authority for further conciliation.
Furthermore, Property Managers proactively negotiated an additional 14% of temporary rent reduction requests beyond the COVID-19 Emergency Response Regulation, representing over 10,800 residential tenancies. That’s more than double the amount of qualified lease renegotiations recognised as ‘COVID-19 impacted.’ The bulk of these temporary rent reduction reviews took place across Brisbane (37.2%), Gold Coast (14.88%), Sunshine Coast (12.09%) and Cairns (6.51%) with the majority of tenants requiring a rent reduction of up to $100 per week (69.3%). A further 23.72% of rental tenants have required a temporary rent reduction of up to $200; 5.12% a reduction of up to $300; and, 1.86% a reduction of over $300 which represents just over 200 tenants.
“By the time the Prime Minister’s proposed protective measures for residential tenancies via a six-month moratorium on evictions reached the Palaszczuk Government, a highly-coordinated industry campaign for more fair and balanced protections for both tenants and landlords ensued,” says Ms. Mercorella. “However, the REIQ recognised that many rental tenants and landlords simply couldn’t wait. Large scale job losses were already in motion, with the entertainment, events, food and beverage, and tourism industries virtually grinding to a halt overnight. As a result, we were quick to work proactively with Property Managers across our member agencies to achieve an immediate framework of resources for tenants and property owners in significant financial distress to come together to negotiate temporary rent reductions in order reach an amicable outcome for both parties.
“The role our industry’s Property Managers have played throughout this pandemic is truly exemplary,” adds Ms. Mercorella.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Only 6% of renters qualified as "COVID-19 impacted": REIQ

<html><body>
Australian proptech startup :Different has announced it raised $3.5 million in its latest funding round to continue its national expansion.
The fund raising coincides with the company’s launch into Brisbane today.
:Different is a full-service property management startup where property owners pay a fixed fee of $100 per month instead of a percentage based on the rental price of the property.
The appeal of :Different is their tech base which automates the everyday tasks of a property manager.
:Different’s owner app provides 24/7 access to documents like lease agreements, statements, and maintenance requests, while the tenant app helps streamline requests and fast track communications. 
Over the last 12 months, :Different’s customer base has grown five folds with more than $700 million worth of properties now under management across New South Wales and Victoria, while its team has quadrupled to 32.
The latest funding round supports :Different’s ambitions to expand into new markets, further enhance its tech platform and continue to build its team of expert property managers, said Mina Radhakrishnan, Co-Founder at :Different.    
"We’ve already had huge success since launching in Sydney and Melbourne, and we’re thrilled to offer the same great offering to Queenslanders," Radhakrishnan said.
"We have big growth ambitions for :Different. This latest funding round will help us continue to rebuild property management in Australia and beyond." 
</body></html>

Australian property management startup raises $3.5 million, expands to Brisbane

<html><body>
Ayre Real Estate has announced that Torch Property Management has joined the brand under a strategic collaboration, with the Torch business rebranding to Ayre Real Estate.
The combined business will feature two office locations; the existing Ayre Real Estate office located at the Sheraton on the Park, 161 Elizabeth Street, Sydney, and Torch’s shopfront at 9 Argyle Place, Millers Point.
Ayre Real Estate founder Adrian Wilson says the combined power of our 68 plus years of prestige property experience, coupled with the benefit of two offices in key locations and our advanced marketing strategies, was a significant competitive advantage.
The partnership will service a portfolio of over $400,000,000 in assets with over 200 luxury rentals under management.
Launching a portfolio of prestige apartment sales, the first on the market is a penthouse apartment; 731/8 Point Street Pyrmont, for auction on 21st August with a price guide of $5.3 million.
It has a one bedroom apartment in Observatory Tower 2406/168 Kent Street Sydney, listed for sale at $1,575,000.
Craig Donohue, a CBD Agent previously at McGrath joins the leadership team as a Director, alongside Kate Sommervelle, Director and Licensee of Millers Point office, and Adrian Wilson, Founder and Director of Ayre Real Estate.
In addition, Georgia Peters, one of Sydney’s most experienced property managers, also joins the team as Senior Property Manager.
The team at Torch seek premium prices for luxury rentals regularly leasing properties between $2000–$5000 per week, up to $25,000 per week.
</body></html>

Torch Property Management joins forces with Ayre Real Estate

<html><body>
The John Singleton Group has invested in technology start-up Property Realm’s real estate trust accounting software, Concierge.
Concierge, which looks set to shake up the property management sector in Australia, combines artificial intelligence (AI) with voice recognition.
The technology utilises platforms such as Google Assistant, Google Home, Google Mini, SMS, standard email systems and Facebook Messenger to provide tenants with full access to their tenancy details.
Tenants can access all the information they need in a self-service environment at any time 24/7.
Paul Anderson, Executive Chairman of Bonython, the arm of the John Signleton Group investing in the product, described Concierge as “the future of communications between tenant, landlord and property manager, but ultimately it will become the platform for any interaction with customers who want self-service 24/7 when it suits them given the system’s flexibility and adaptability to any situation.”
Mr Anderson added, “We are also proud to support a technology conceived, tested, and delivered from the Central Coast of NSW, and yet again showcases the regions ability to create fantastic business opportunities.” he added.
Property Realm has invested heavily in this new technology that integrates voice recognition through Google with a real estate agent’s trust account, according to Patrick Hill, CEO of Realm Property, the developer of Concierge.
He said, “we have combined this integration with AI so that tenants can communicate directly with a real estate agent’s trust account."
“Through this technology, tenants can ask about when their rent is due, the timing of next inspection, or they can even pay their rent using Google Pay.”
In Australia, the average rent roll is 280-320 properties, with some of the more significant property managers overseeing as many as 11,000 managements. On average across Australia, tenants make 3.4 calls to their property manager per month. Realm estimates that 80-90% of these calls can be answered by Concierge using technology already owned and used by the tenant.
Property Realm is in discussions with a number of residential real estate networks regarding Australia-wide rollouts for Concierge.
They are also partnering with major trust account management software providers such as Rockend, Property Tree, and Property Me.
An existing client of Property Realm, Brett Hunter, Director of Raine &amp; Horne Terrigal, says Concierge enables property managers to secure quality tenants and give them more access to their information.
“Our landlords enjoy Concierge because it not only helps them secure quality, long-term tenants but helps educate tenants about their rights and provides access to their payment information.”
</body></html>

John Singleton Group investing in Concierge, AI property management

<html><body>
Unilodge has launched a specialised build-to-rent property management arm as the asset class continues to expand.
Essence Communities will provide property management services to investors and developers.
Build-to-rent projects are becoming an increasingly prominent part of the Australian property sector, following the success of similar dwellings in countries such as the US and UK. 
Executive Chairman of UniLodge, Peter Bates, said there is growing demand in the rental market for greater choice and long-term accommodation security.
“We know many Australians are finding it increasingly difficult to purchase property and we are seeing an attitudinal shift with many now seeking high-quality community offerings and the security that comes with longer lease terms,” said Bates.  
“While multi-family developments can address the demand for longer-term accommodation options, the success of the build-to-rent model is contingent on the provision of high-quality amenities and services, with more than one third saying they’d pay a higher rent for attractive community offerings and services.  
“Across our portfolio of more than 70 student accommodation and serviced apartments, we’ve seen how essential security and high-quality community offerings are to creating environments that occupants call home, which in turn delivers high-occupancy rates. 
“Our market-leading technology, bespoke services and understanding of unique community requirements, are key elements of our success and will translate to thriving build-to-rent projects through Essence Communities.”
</body></html>

UniLodge launch specialised build-to-rent property management arm

<html><body>
GUEST OBSERVATION
People’s quality of life, their health and their comfort can suffer when living in poor-quality housing. It can also impose high ongoing costs of maintenance, repairs, heating and cooling. And these problems are more likely to affect low-income households, as <a href="http://www.shelternsw.org.au/uploads/1/2/1/3/121320015/poor_quality_housing_report_2019.pdf" target="_blank">our report</a> for Shelter NSW shows. In it, we review the evidence on housing quality problems and consider ways to resolve these, especially for low-income households.
There is extensive evidence of the impacts of poor-quality housing on <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/27712557" target="_blank">physical health</a>, <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1257572/" target="_blank">mental wellbeing</a> and <a href="https://www.propertyobserver.com.au/https://www.ncbi.nlm.nih.gov/pubmed/10942447" target="_blank">comfort</a>. For example, poor design and maintenance can lead to the <a href="https://onlinelibrary.wiley.com/doi/abs/10.1111/j.1398-9995.1998.tb03859.x" target="_blank">build-up of mould</a>.
These negative impacts vary by income groups and tenure. From the recently completed <a href="https://dataverse.ada.edu.au/dataset.xhtml?persistentId=doi:10.26193/RDMRD3" target="_blank">Australian Housing Conditions Dataset</a> we know, for example, that renters on very low incomes (the bottom fifth of households for gross income, about $20,000 a year) are most likely to have unmet repair needs. They also have a harder time staying comfortable during winter and summer, as the table below shows.
<a href="https://images.theconversation.com/files/276912/original/file-20190529-181266-12d6trt.PNG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/276912/original/file-20190529-181266-12d6trt.PNG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://dataverse.ada.edu.au/dataset.xhtml?persistentId=doi:10.26193/RDMRD3" target="_blank">Source: Australian Housing Conditions Dataset</a>, Author provided
What are the reasons for poor-quality housing?
There are several underlying reasons for substandard housing.
Properties may enter the rental market after years in owner-occupation with no formal checks on their state of repair.
Another problem is some private renters do not assert – <a href="https://rentingfair.org.au/need-to-know" target="_blank">or feel unable to assert</a> – their legal right to habitable premises in a reasonable state of repair and upkeep. This is often because of the insecurity of their leases and lack of affordable alternative housing.
Another issue is “split incentives” – landlords decline to upgrade properties because they would not receive any benefit themselves.
There are also problems in public housing. Disinvestment by governments has both reduced the supply of housing and caused a <a href="https://www.propertyobserver.com.au/https://www.ahuri.edu.au/research/final-reports/148" target="_blank">backlog of maintenance for much of the remaining stock of dwellings</a>.
Housing quality is covered by myriad regulatory regimes. Lately, governments have been focused on questions of <a href="https://ncc.abcb.gov.au/" target="_blank">how best to regulate construction of new buildings</a>. Less attention is given to the ongoing use of existing buildings.
Recent state and national reviews have highlighted problems in the certification of building design and construction, and in the public agencies that oversee the certifiers. Some state governments have begun to respond. The New South Wales government, for instance, is moving to consolidate the regulation of construction practitioners under a new <a href="/news/nsw-government-to-appoint-building-commissioner-following-industry-reform-report">building commissioner</a>.
We spoke to a range of housing sector stakeholders and the theme from the recent reviews that most struck a chord was inadequate policy governance. There was no comprehensive overview or oversight of the issues of housing quality. As a result, some important issues escape policymakers’ attention.
Many stakeholders indicated that the current focus on problems in new buildings is an example of this. Although that’s plainly an issue in need of attention, other problems in existing buildings and more fundamental solutions are being overlooked – such as increasing social and affordable housing supply.
So what are the solutions?
<ul>
<li>Empowering tenants and regulators</li>
</ul>
One way in which the quality of existing housing is regulated is through tenancy laws. This will become more important as rental housing becomes an <a href="https://www.tandfonline.com/doi/full/10.1080/02673037.2017.1301400" target="_blank">increasingly common option, particularly for the long term</a>.
Recently, some state governments have amended tenancy laws to specify <a href="https://www.cbos.tas.gov.au/topics/housing/renting/beginning-tenancy/minimum-standards" target="_blank">“minimum standards” for rental housing</a>. Our research participants supported these moves, but said security of tenure also had to be improved to protect renters when they assert their rights. The onus of legal enforcement could also be shifted from tenants to regulators.
<ul>
<li>Mandating improvements to overcome the split incentive problem</li>
</ul>
The <a href="https://www.propertyobserver.com.au/https://apo.org.au/node/178481" target="_blank">split incentive problem for housing quality</a> means some landlords are reluctant to pay for upgrades – such as insulation or other energy-efficient features – where tenants are the beneficiaries. As a result, renters, especially those on low incomes, are likely to be <a href="https://www.propertyobserver.com.au/https://www.ahuri.edu.au/research/final-reports/159" target="_blank">living in housing of lower standards or quality</a>.
A potential solution is for governments to take the minimum standards approach and legislate energy efficiency and other improvements as mandatory. This is <a href="https://www.gov.uk/government/publications/the-private-rented-property-minimum-standard-landlord-guidance-documents" target="_blank">already commonplace overseas</a>.
One of our workshop participants observed that “energy poverty” was another way of framing the policy issue that had proved compelling in overseas jurisdictions. While this framing had not had the same impact in Australia, <a href="https://www.acoss.org.au/wp-content/uploads/2018/04/EEC-Survey-online-FINAL-.pdf" target="_blank">this may be changing</a>.
<ul>
<li>Improving transparency of housing standards</li>
</ul>
Social housing providers have a role in leading by example. Increased investment in social housing could contribute to improved quality across the housing system.
To this end, social housing landlords – particularly state and territory public housing authorities – need to be more accountable to tenants and the general public. Transparent reporting on property conditions, maintenance and tenant satisfaction, led by the social housing sector, can and should be rolled out as standard practice across the sector.
To do this, however, <a href="https://theconversation.com/australia-needs-to-reboot-affordable-housing-funding-not-scrap-it-72861" target="_blank">enough funding must be provided</a> to reverse <a href="https://www.theguardian.com/australia-news/2019/may/17/national-obscenity-australias-story-of-housing-boom-and-homelessness" target="_blank">decades-long underfunding</a> in the sector.
Collectively, these options can deliver more equitable housing outcomes, not only to low-income households but to all. The challenge lies in having the political and industry will to act on them.
Edgar Liu, Senior Research Fellow at City Futures Research Centre, UNSW
Chris Martin, Research Fellow, City Futures Research Centre, UNSW
Hazel Easthope, Associate Professor, City Futures Research Centre, UNSW
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/chilly-house-mouldy-rooms-heres-how-to-improve-low-income-renters-access-to-decent-housing-116749" target="_blank">original article</a>.
</body></html>

Chilly house? Mouldy rooms? Here’s how to improve low-income renters’ access to decent housing

<html><body>
The ASX-listed real estate agency McGrath has commenced an expansionary push into rent rolls to underpin its desired recovery in the current downturn.
Its chief executive Geoff Lucas said the company had acquired two rent rolls. McGrath last reported almost 7,500 properties under management.
It has been reported that they were being bought "under market value."
Lucas indicated many agencies were trying to offload rent rolls as they focused their attention on securing sales during the downturn.
"Increasingly we are seeing real estate business owners seeking to return to a role of real estate sales agent without the attendant issues of running a business in a difficult environment," he said at the meeting.
"As a result an increasing number of rent rolls with sales businesses attached are beginning to come to market."
Lucas reportedly said McGrath had purchased the latest two new small rent rolls at below market valuation, although he declined to comment on the price paid or the number of extra rental agreements secured.
<div class="page" title="Page 4">
<div class="layoutArea">
<div class="column">
"With currently $16 million in cash and one of Australia’s largest rent rolls that would typically be valued at between $45 and $55 million and zero debt, we’re well placed to make prudent and strategic acquisitions," he said.
Trading at 31 cents, the company market capitalisation is $54 million.
</div>
</div>
</div>
Fund manager shareholder East 72's representative Andrew Brown challenged the rent roll acquisitions, according to The Australian Financial Review.
"The performance [of the rent roll] is pretty disappointing ... the average return has gone down as well. Why are we acquiring more? What is the competitive advantage in managing rent rolls?"
New chairman Peter Lewis admitted the year was not "stellar" in sales or property management but said both those businesses were now stabilised.
It was time to achieve economies of scale, Lewis said.
Mr Lucas attributed the weakness of its rent roll previously to the falling number of agents over the years, which crimped referrals from landlords and the natural attrition of agreement expiration, both of which were no longer posing problems.
In McGrath's 2015 listing prospectus, the rent roll held by company-owned agencies made up 11 per cent of pre-tax and interest profits (EBITDA), while sales commissions from company-owned agencies were 71 per cent of the firm's profits.
In 2012 McGrath had 5500 rent roll properties.
Industry estate agents collect about five per cent of rents as their fee for managing properties, which is typically the licensee's most stable source of income.
Critics of the McGrath prospectus indicated the true value of a real estate agency was in the rent roll, not sales listings nor office fixtures or fittings. 
At the time of the float the value of rent rolls reflected ratios from $3.00 to $4.00 on a dollar income per annum, having jumped from $2.75 over the prior two years. 
There are variations as rent rolls in Queensland are more likely $2.20 to $2.80.
John McGrath, the founder of the company, told the meeting he was back helping with the listing of homes.
He has especially sought to assist agents struggling to get prestige listings from the eastern suburbs office.
He remains engaged with agent training too.
"My mandate now is to grow the marketing areas of the business, that's where I add the most value," he said.
"It wasn't always that way but I am enjoying it again ... I am starting to enjoy the feel of the business again."
McGrath told Friday's annual general meeting the worst of the housing downturn had passed.
McGrath said that prices would fall only a few percentage points further, 2 to 3 per cent.
The company endured a horror year in which it fell to a $63 million loss.
“Despite the fact that it’s been annus horribilis for us, no doubt, we are seeing a light at the end of the tunnel,” he said.
McGrath, who has been through five cycles in his 35-year career, said the market was one year into a correction period that would run for about two years.
“I think we’re getting towards the bottom of the market,” he said.
“It may get a little bit worse before it gets better but I think that most of the price correction has been seen already … you might see 2-3 per cent more in Sydney come off,” he said.
 
 
</body></html>

Rent roll expansion to underpin McGrath's desired recovery amid downturn 

<html><body>
The McGrath share price is going to be 32 cents in a year's time, reflecting no change from its current lows, according to Bell Potter, the stockbroker who helped float the estate agency at $2.10 in late 2015.
The forecast came after McGrath updated the ASX on the deteriorating property market conditions.
McGrath provided a trading update that highlighted a number of factors which are negatively impacting the operating performance of the company.
Click here <a href="https://www.propertyobserver.com.au/images/2018/10/24/mcgrath1.jpg" target="_blank">to enlarge.</a>
<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/2018/10/24/mcgrath1.jpg" alt="">
McGrath did not provide any guidance for FY19 but did say it expects a much better result in 2HFY19 and “at least a breakeven position on an EBITDA basis” for the full year.
Bell Potter accordingly downgraded its FY19 EBITDA forecast from $5.1 million – which was consistent with underlying FY18 EBITDA – to a modest loss of $0.5 million which is below the company’s general guidance of at least a breakeven result.
It also downgraded its FY20 and FY21 EBITDA forecasts by 58% and 44% but continue to forecast positive EBITDA in both these periods and some improvement in market conditions.
"Our downgraded EBITDA forecasts mean we now expect a net loss in FY20 and a modest net profit in FY21," the stockbroker advised.
<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/2018/10/24/Mcgrath3.jpg" alt="">
"The net result is a 16% decrease in our PT to $0.32 which is close to the current share price and so we maintain the HOLD recommendation.
"We note our PT is now modestly lower than the $0.33 valuation we apply to the annuity businesses but we do not see this valuation as the key driver of the share price as we do not expect these businesses to be sold."
The broker advised shareholders it "no longer forecasts a resumption of dividends in FY20 given we now forecast a net loss in the period".
Click here <a href="https://www.propertyobserver.com.au/images/2018/10/24/McGrath2.jpg" target="_blank">to enlarge.</a>
<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/2018/10/24/McGrath2.jpg" alt="">
Its determination of the price target for McGrath was base on its core DCF (discounted cash flow) and the valuation of the annuity businesses.
"McGrath has two annuity businesses – property management and mortgage broking – which generate recurring revenue and so a relatively reliable or dependable valuation can be applied to each.
"We value both businesses at b/w $55 - 60m which equates to b/w $0.33 - 0.36 per share and so provides some valuation support for the share price."
</body></html>

jchancellor-FAypfDUnLy

McGrath share price supported by property management and mortgage commissions: Bell Potter

<html><body>
The Professionals Real Estate Group have had a restructure in the ways its services its 225-plus members, according to the new chief executive officer.
The management of Professionals Real Estate Group was previously split between separate divisions across Australia.
But the restructure leaves the group with one core board of directors and management team.
Recently appointed CEO David Crombie (pictured above) said the restructure would help the group focus on key areas.
"The unification of the group is the result of many years of hard work by all directors of the states to create a single powerful force in the national market,'' said Mr Crombie. 
Professionals Real Estate Group, which was founded by six independent real estate agents in 1976
With more than 225 agencies, it is among the top 10 largest real estate networks in the country.
Mr Crombie, who will split his time between Professionals offices throughout Australia, said a key priority for the group was to ensure that it continued to provide "local" service to its members.
"We will continue to have team members based in each state but those team members and the members in each state will have access to a greater level of resources and support under the new structure and technology that will be implemented."
Professionals Chairman Carl Petersen said his membership for over 35 years had been "highly rewarding both financially and in terms of business growth development.”
</body></html>

Professionals Real Estate Group restructure under new CEO

<html><body>
ASX-Listed Buymyplace.com.au (BMP) has purchased an end-to-end DIY property management company for $2 million.
Pleased.Property (Pleased) was founded 18 mponths ago by Jeremy Goff, alongside Gerard Holland and Domenic Saporito of GADA Technology.
It offers optional live video condition inspections for long-distance property management.
“Pleased enables owners and renters to carry out every possible interaction, communication and transaction for their rental property on a single secure platform,” said Goff
“Our best-in-class technology platform will further enhance BMP’s core value proposition, allowing customers greater choice and control over their property investments.
“This transaction is a win-win solution for all parties involved.”
Colin Keating, CEO of BMP, said the success of BMP to date proves that the real estate sector is ripe for disruption.
“Rental transactions are a relatively untapped opportunity for our business, but one where we can immediately begin to capture greater revenue from our existing customer base, expand our market and offer our customers greater choice and control across the spectrum of property transactions
“This acquisition is a key pillar in our buy, rent and sell strategy.”
 
</body></html>

Property Management

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Property Management

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News