Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Property News

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The former NAB banker Lukas Kamay has been sentenced to jail for seven years, three months. The minimum served with be four years, six months.

Kamay was accused of using insider Australian Bureau of Statistics (ABS) information to make over $7 million by trading in the Australian dollar online over 10 months.

Police alleged Kamay, of Melbourne, used confidential ABS statistics to trade online, betting against foreign exchange derivative movements in the Australian dollar after allegedly being in receipt of national economic, retail trade and labour-force statistics before the normal 11.30am release.

Kamay plead guily to the charges. His accomplice, former ABS analyst Christopher Hill, was sentenced to three years and three months, to serve a minimum of two years.

[smartcode_project:default project_id=600]

Supreme Court Justice Elizabeth Hollingworth said it was "the worst instance of insider trading to come before the courts in this country".

Kamay spent some of the proceeds on an apartment in The Block Albert Park.

His headline grabbing Albert Park purchase was the luxury apartment decorated by the runner-up Adelaide twins, Alisa and Lysandra which sold at its April auction for $2,375,000 —<a href="https://www.dinglepartners.com.au/index.cfm?pageCall=property&amp;propertyID=2618525" style="line-height: 1.3em;" target="_blank"> a massive $616,000 above the reserve of $1,759,000</a>. 

The Sunday Herald Sun <a href="https://ow.ly/i/5wuz5/original" target="_blank">uncovered Kamay's $2,375,000 purchase</a>.

<img alt="HS_cover_SUN.jpg" src="https://static.ow.ly/photos/original/5wuz5.jpg" title="HS_cover_SUN.jpg">

Source: Ow.ly

The three bedroom apartment was marketed for Alisa and Lysandra, the former SA police officers, by the Melbourne CBD agents, Anton Wongtrakun and Rochelle Wilson from Dingle Partners.

Apartment 3 at 47 O'Grady Street (feature picture above) was resold mid-2014.

Investors paid $2,375,000 to buy after the televised initial purchase did not proceed to settlement.

The replacement buyers had the apartment advertised for rent at $2,500 a week through Dingle Partners.
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jchancellor-FAypfDUnLy

Seven years jail for The Block Albert Park-buying ABS insider trader Lukas Kamay

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There are just the six houses on what's become known around the world as Ramsay Street, Erinsborough.

And despite all the comings and goings of the residents on the television show, only four of the six at the Vermont South setting have actually been sold over the past 30 years during which the internationally broadcast series, Neighbours has been broadcast.

Two of the four sold on the tightly held Pin Oak Court cul de sac have been bought by an expatriate Neighbours fanatic living in the UK who most recently paid $867,000 in early 2013 to secure his second 'Ramsay Street' house.

Andrew Whitney, who directs a private jet and helicopter charter flight company in the UK, outbid seven for the Pin Oak Court, Vermont South offering.

Also known as 30 Ramsay Street, the home of Jarrod 'Toadie' Rebecchi, it was offered through <a href="https://www.barryplant.com.au/property.cfm?propertyID=2272561" target="_blank">Barry Plant Real Estate</a>.

The former Blackburn North resident bought another Pin Oak Court house 17 years ago before moving to the UK for $238,000.

[smartcode_project:default project_id=27783]

Mr Whitney once told the Herald Sun that he knows the street better than anyone.

"I record every episode of Neighbours," he said.

It was sold by the downsizing vendor Faye Pierce, with the buyer able to join the other court residents who are paid a substantial annual fee by the show's producers in agreeing to avoid changes to their facades without consultation and allowing external regular filming. It has been reported that even a letterbox change could be catastrophic for continuity.

<a href="/news">The four-bedroom home was built with her husband in 1973</a> with its expansive covered rear deck having elevated views over Billabong Park.

Marketed as the 'Neighbours House' at 3 Pin Oak Court, the property's marketing won a 2013 real estate marketing award for the Barry Plant Monash Group.

It was advertised as "Your chance to own a piece of Australian television history!"

The most traded on the street sold at $126,000 in 1984, just before the show began; then in 1999 at $312,580 and then in 2007 at $630,000.

The home of the Robinson family, where much of the early action in the soap took place, is number 6. 

[smartcode_project:default project_id=2772]

The original characters included plumber Max Ramsay (Francis Bell), after whose family the street was named, his migrant wife Maria (Dasha Blahova) and their sons Shane (Peter O'Brien) and Danny (David Clencie).

Widower Jim Robinson (Alan Dale) lived next door with his kids, Paul (Stefan Dennis), Julie (Vikki Blanche), Scott (Darius Perkins/later Jason Donovan) and Lucy (Kylie Flinker), and mother-in-law Helen Daniels (Anne Haddy).

It was launched by the Seven Network on March 18, 1985, but struggled for four months before cancellation, only to be reborn at Channel Ten to then become Australia's longest-running prime time soap, and the second longest in the world behind Britain's Coronation Street.

Neighbours was repackaged debuting on Ten in January 1986 with huge credit to Ten's director of publicity, Brian Walsh, who toured the cast across shopping centres, generating unprecedented interest in afternoon newspapers, with the likes of The Daily Mirror's David Brown securing regular front page exclusives on the latest for Scott and Charlene (Jason Donovan and Kylie Minogue), which television critic Michael Idato once described as one of Australian television's iconic romances, on and off screen.

[smartcode_project:default project_id=2881]

One story line through the years was changing the name of the street to Ramsbottom Street. Harold Bishop led a protest against the name change and won.

The median price currently listed by <a href="/news">CoreLogic RP Data</a> for houses in Vermont South is $815,000. Back in the mid-1980s it was around $119,000.

The last sale prices on Pin Oak are:

<ul>
<li>3 Pin Oak $867,000 2013</li>
	<li>2 Pin Oak $630,000 - 2007</li>
	<li>6 Pin Oak $238,000 - 1998</li>
	<li>1 Pin Oak $235,000 - 1991</li>
	<li>4 Pin Oak $66,950 - 1981</li>
	<li>5 Pin Oak $62,000 - 1978</li>
</ul>
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Not much movement among Neighbours on Pin Oak Court as Ramsay Street celebrates 30 years

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The Australian Securities and Investments Commission (ASIC) has banned the founder of the Charterhill Group of Companies, George Nowak, from providing financial services until 3 July 2017 on the basis that he is an undischarged bankrupt.
ASIC's investigation, which is ongoing, found that Nowak applied for personal bankruptcy in July 2014.
Section 920A(1)(bb) of the Corporations Act provides that ASIC may make a banning order against a person if the person becomes insolvent under administration.
Nowak is banned from providing financial services for the period of his bankruptcy. He is also automatically banned, under the Corporations Act, from acting as company director and being involved in the management of companies for this period.
Nowak has a right of appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
ASIC is continuing to investigate the conduct of Nowak and the activities of the Charterhill Group, which operated as a 'one stop shop', providing advice to clients on the establishment of SMFS, rollover of existing superannuation funds into an SMSF, sourcing and purchase of investment properties, property management, insurance and taxation.
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George Nowak banned by ASIC after Charterhill collapse

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New research from Roy Morgan has revealed the domestic destinations that Australian families are most likely to name as somewhere they’d like to take a holiday.
Queensland tops the list, with 46% saying they’d like to holiday there in the next two years, followed by Victoria (45%) and NSW (43%).
However, of the capital cities, Melbourne is the clear favourite, named by 25% of families, well ahead of Sydney at 14%.
Roy Morgan noted where Melbourne offers culture, museums, sport and shopping for all ages. Surfers Paradise has beaches, theme parks, amusement arcades and endless sunshine, and is another popular potential holiday destination among Australian families, 15% of whom say they’d like to visit.
Top 10 domestic destinations Aussie families would like to holiday in the next two years
<img src="https://www.roymorgan.com/~/media/files/morgan%20poll/2015/march/6107-chart.jpg?la=en" alt="family-holiday-faves" width="800" height="522">
Source: Roy Morgan Single Source (Australia), January 2014 – December 2014 (n=15,944). 
Other coastal holiday destinations that rate highly among Aussie families are Victoria’s iconic Great Ocean Road and Phillip Island and New South Wales’s lush North Coast. 
Thredbo/Perisher is the ski-spot with the most appeal for families as a potential holiday destination, being 54% more popular with this demographic than the average Australian, Angela Smith, group account director, Roy Morgan Research noted.
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Queensland tops holiday destination wishlist for Australian families

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"Have you ever seen a $1 million in cash," a Sydney estate agent asked the quite surprised 2GB Money News broadcaster Ross Greenwood on his show last night.
"I can't think that I have," <a href="https://www.2gb.com/article/money-news-ross-greenwood-wednesday-march-4" target="_blank">was Greenwood's reply</a>.
"It's intoxicating, you can't keep your eye off it" the undisclosed agent advised.
The claim coincided with the unveiling of a federal government FIRB property buying consultation paper, with proposed measures designed to restore confidence in a foreign investment review system that had not prosecuted anyone for breaching the rules since 2006.
The agent said he came from an undisclosed suburb heavily populated by people of Chinese origin and also a destination for Chinese investors. Property Observer gathers it may be riverfront inner west Sydney.
"They come in weekly with literally suitcases with a $1 million, $2 million in cash," the agent told Greenwood, who had the agent's identity checked, but not revealed on air.
"The one thing they say is we don't need a bank, we can settle in two weeks."
Asked whether they were buying new or established homes the agent said: "Anything."
"It is happy days for me as I am an agent, but for my kids, your kids and the listener's kids, they have no hope."
Asked how they are getting around the rules, the agent said they respond 'you don't have to worry about that.'
One buyer told him the cash came from camper van trailer factory back in China, when his questioning met his curiosity and obligations regarding excessive cash transactions.
Ross Greenwood wondered how the money gets through Australian customs.
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Chinese investors reportedly with $1 million cash in suitcases to buy Sydney property

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The consumer watchdog has instituted proceedings in the Federal Court against best-selling property investment author Rick Otton and his business We Buy Houses for alleged breaches of the Australian Consumer Law.
Otton is the author of How to Buy a House for a Dollar, which was rated as one of the Top 10 Most Popular Business Titles for 2013 by Money Magazine and Dymocks.
The Australian Competition and Consumer Commission claims Otton made representations to consumers that by attending seminars and boot camps they would be able to buy a house for $1; buy a house using little or none of their own money; and build property portfolios without their own money invested and without new bank loans.
The seminars and boot camps range in cost from $2,997 to approximately $17,000 for a mentoring program. 
The ACCC claims the strategies do not enable consumers to buy a house for $1 but rather involve consumers acting as middlemen to facilitate property transactions between third party sellers and third party buyers.
The alleged representations were made in a number of mediums since at least  1 January, 2011 including in published materials, on websites and during various events such as seminars and “boot camps”.
Otton is travelling so was unable to answer questions but provided a statement defending his business and book.
“It seems that the ACCC thinks that the public are fools, that they will take the title literally and think that they only need a dollar to buy a house,” he said.
“It’s a sad day when the ACCC thinks the Australian public is that foolish that they don’t understand that the dollar is just the start of the process.”
Otton claims the expression is often used in business that you can buy a business for $1, that is, for the value of the debt owed by the business.
Otton says the We Buy Houses “technique” involves buying a property where the loan repayments on a house are creating hardship for the owner, and the loan amount is so high that the owner cannot sell the house for enough money to pay out the loan.
“Why wouldn’t the owner welcome someone new who can step in, agree to buy the house and pay out the loan down the track?” he says.
“The ACCC is taking a literal interpretation of the title, it’s like saying the book Fifty Shades of Grey is misleading because it’s not about paint colours, or that David Niven’s memoirs, The Moon’s a Balloon, isn’t about the moon.”
ACCC chairman Rod Sims said in a statement that the watchdog is concerned the strategies promoted by We Buy Houses and Otton “target vulnerable consumers who don’t qualify for bank loans or who are having difficulties meeting their mortgage repayments”.
Otton came under scrutiny in 2013 <a href="/news/wa/best-selling-property-investment-authors-wa-seminars-banned-department-of-commerce">when his seminars in Western Australia were banned by the Department of Commerce</a> on the basis of misleading advertising. 
The matter is listed for a directions hearing in Sydney on 1 April, 2015.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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cwaters-YrtBR88nBe

ACCC drags Rick Otton to court for his “Buy a house for $1” claims

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More than half a million Australian households were the victims of malicious property damage, while another 400,000 suffered a break-in or attempted break-in at their home in the 2013-14 financial year, a survey published last week has found.
Malicious damage was the most common property crime, with 6% of the 8.8 million households surveyed by the Australian Bureau of Statistics claiming to have suffered at least one incident during the year.
That rate was 10 times higher than the proportion who experienced a motor vehicle theft and double the proportion who said items had been stolen from their vehicle.
Only half of households that experienced malicious property damage reported the incident to police, the ABS survey found. Three quarters reported a break-in but only 43% reported an attempted break-in.
Despite the risk of theft and damage to home and contents, four out of five Australians has inadequate property insurance and one in four has no contents insurance cover at all, according to a separate survey by Quantum Market Research for the Insurance Council of Australia.
Some people said the cost of insurance was too high while others were complacent about the need for coverage.
For landlords, insurance premiums can be claimed as a tax deduction. The scope of <a href="/expert-insights/investing/what-is-landlords-insurance-investment-terms-explained">landlord insurance</a> varies between policies, but most include coverage against malicious damage to the building and its contents by tenants and their guests, as well as intruders.
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Malicious damage the most common property crime

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In late January, I attended the Inman Real Estate Connect Conference in New York.  The conference is targeted at real estate professionals and provides insight into the latest news and trends within the market. 
This week’s I'll share some of the new technology, websites and applications as well as some of the ways US agents are now using social media to communicate with clients.  Most of the websites and applications are US-centric but here I will highlight those which are also relevant to the Australian market.
Social Media
In the US, social media is big for real estate agents and brokers.  Although LinkedIn, Facebook, Youtube and Twitter may immediately spring to mind, real estate professionals are now starting to effectively create leads from Instagram and Pintrest. 
In fact, in the US, agents receive more referral traffic from Pintrest than they do from Google Plus, Linkedin and Youtube combined.  Real estate professionals are effectively using Pintrest by creating pinboards of design ideas and solutions that they like and local area information. 
This can include but is not limited to:
<ul>
<li>Smart home design</li>
<li>Storage solutions</li>
<li>Room designs</li>
<li>Local area landmarks (shops, cafes, bars etc)</li>
<li>Local restaurants</li>
</ul>
Furthermore, US agents are pinning the listings information of homes they have, and have had, available for sale so they can show customers on their inspections. 
Instagram is being used in a similar way whereby agents create a unique hashtags (e.g. #ckusherlistings) and upload photos of all their current and previous listings to have these immediately searchable to show clients.
Websites
<a href="https://buzzsumo.com/" target="_blank">Buzzsumo.com</a>
Buzzsumo is a website that that allows you to analyse how well your social media content is being used.  It shows the total number of shares of your content and then breaks it down by the different social media platforms. 
Social media in real estate certainly isn’t as big in Australia as it is in the US, but this is a good website that allows you to see where both you and your competitors are getting the eyeballs and ultimately the shares.
<a href="https://www.fancyhands.com/" target="_blank">Fancyhands.com</a>
Fancyhands is a US based business which offers a virtual personal assistance service.  As per the website they can do all those tasks that you don’t have the time nor the desire to do, this may include:
<ul>
<li>Managing your appointment schedule</li>
<li>Organising travel</li>
<li>Administrative tasks such as data entry</li>
<li>Reservations</li>
<li>Booking travel</li>
</ul>
<a href="https://www.floored.com" target="_blank">Floored</a>
Floored create 3D videos of properties so potential buyers can walk through a property before they physically see the property.  The models are optimised so you can watch them through an internet browser of through a mobile phone or tablet.  The technology can also be used to create 3D real estate models for homes which aren’t even built as yet.  You can also include furniture to get an even clearer idea of how things will fit in the space.
<a href="https://www.oculus.com" target="_blank">Oculus</a>
Oculus is a virtual reality headset which is being backed by Facebook.  For the real estate industry it can be utilised by allowing customers to literally walk through the home without having to physically do open-for-inspection.
<a href="https://www.homekeepr.com" target="_blank">Homekeepr</a>
Homekeepr is a home maintenance app that can be used by both real estate professionals and anyone that owns a home.  The app asks 10 questions about the characteristics of your home, it then creates a list of maintenance tasks that are required for the home and sets reminders as to when you should do these tasks. 
The application provides a description of what the task is and why it should be done.  It then recommends local service providers to undertake these tasks.  The agent’s app offers customers the opportunity to download the app and it is customised to the clients’ home(s).  The list of local service providers for each task can be customised by the agent. 
When the task is due to be completed they receive both a notification on the app and an email from you as their agent reminding them that the task needs to be completed.  The agent can even put their own recommendations outside of those specifically for the home such as local restaurants, shops, schools and much more.
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How US real estate agents are using social media and new technology to win customers: Cameron Kusher

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Rich Lister Paul Little will become Australia’s newest billionaire, following Japan Post’s <a href="https://www.smartcompany.com.au/growth/economy/45743-toll-board-backs-6-5-billion-takeover-bid-by-japan-post-investors-wipe-600-million-off-seek-share-price-despite-64-jump-in-profit-midday-roundup" target="_blank">proposed $6.5 billion acqu</a>i<a href="https://www.smartcompany.com.au/growth/economy/45743-toll-board-backs-6-5-billion-takeover-bid-by-japan-post-investors-wipe-600-million-off-seek-share-price-despite-64-jump-in-profit-midday-roundup" target="_blank">sition of Toll Holdings</a>.
Little, who led Toll Holdings for 26 years, currently holds a 5% stake in Toll Holdings. <a href="https://www.smartcompany.com.au/growth/economy/45743-toll-board-backs-6-5-billion-takeover-bid-by-japan-post-investors-wipe-600-million-off-seek-share-price-despite-64-jump-in-profit-midday-roundup" target="_blank">The sale will mean</a> the Melburnian can expect a payday of at least $300 million.
While Little only found out about the takeover bid from Japan Post on Tuesday evening, <a href="https://www.theaustralian.com.au/business/toll-holdings-takeover-paul-littles-300m-windfall/story-e6frg8zx-1227223862198">he told The Australian</a> the sale is an “emotional” one for him, but he is pleased to see a new home secured for Toll employees.
“It’s quite an emotional sale for me and my thoughts are with the staff. Their future is assured,” Little said.
Little is already one of Australia’s richest businesspeople, with <a href="https://www.forbes.com/profile/paul-little/">Forbes estimating</a> the 67-year-old’s wealth to be in the vicinity of $820 million as of January this year.
The sale will add another feather to the bow of Little’s career, who nowadays is continuing to make waves with his property business, Little Property Group, and his aviation business, Little Aviation, and as chairman of Essendon Football Club.
Here are a list of highlights from the entrepreneur’s career:
1. Building Toll
Little retired as managing director of Toll in December 2011 after 26 years at the helm. He is credited with leading the management buyout of the company in 1986 and listing Toll on the Australian Securities Exchange in 1993.
But Little’s time at Toll also gave him a reputation as a consummate dealmaker, executing around 100 acquisitions during his time at Toll and building the company’s transport logistics network to 55 countries.
Little <a href="https://www.smartcompany.com.au/leadership/38606-big-plans-exit-toll-holdings-chief-paul-little-rebuilds">previously said</a> companies should make sure an acquisition will make a business “bigger, better, smarter and more efficient” before signing the dotted line.
“An acquisition has to increase activity that lowers operating costs, or it needs to enhance customer service levels,” Little said.
“An acquisition has to do one of those two, or in some cases it needs to do both.”
2. Moving into property
Little founded his property business Little Property Group in 2005 and today the property development arm of the company alone <a href="https://www.smartcompany.com.au/leadership/profiles/42242-big-dreams-how-michael-fox-helped-build-little-projects-into-one-of-melbourne-s-largest-property-developers">turns over more than $300 million in sales</a>.
Michael Fox, managing director of Little Projects, previously said the seeds of the Little Property Group were sown while he was working with Little at Toll.
“Our company really started by accident,” Fox said, recalling his time as head of property at Toll.
“I came across a [development] spot in Richmond that I thought I could do something with and I spoke to Paul about it. So it was a combination of my expertise and his bank account.”
Fox said Little Projects is now Melbourne’s largest property developer, selling 800 apartments in 2013. The company focuses on inner-city development sites in prime spots in Melbourne – including St Kilda, Port Melbourne, South Yarra and East Brunswick – and combines development with its own property management business for investors.
3. Becoming a property tycoon
Little has also used his deal-making skills at Little Property Group, <a href="https://www.smartcompany.com.au/finance/investment/35548-rich-lister-paul-little-snaps-up-real-estate-corp-for-60-million">snapping up rental listing company Real Estate Corp</a> for $60.7 million in February 2014.
At the time, Little Group managed around 3000 rental properties across Australia and Little Residential chief executive Phil Meggs said the acquisition would add around 15,000 additional properties to the network.
Little said at the time he was committed to offering high-quality, well-rounded services in the real estate market.
“As we started to break down some of the barriers and offer not just the opportunity for someone to buy one of our apartments, but then for us to rent it for them, and then one day sell it for them, we’ve found a huge interest in embracing this integrated or seamless approach to real estate,” Little told The Australian.
4. A love of football
Little is a passionate AFL fan and joined the board of the Essendon Football Club in 2011. He has served as chairman of the board since July 2013.
While Little has led the club’s fundraising working group for its new training and administration centre at Tullamarine, his focus has no doubt been on managing the fallout of the performance drug scandal that has plagued the club for the past two years.
5. Investing in digital
Little also owns shares in $100 million online conveyancing company Property Exchange Australia.
PEXA is aiming to disrupt the conveyancing market by offering lower cost property transactions and shorter settlement times.
Originally established in 2010, PEXA began offering full digital property services in New South Wales last November and expanded to Victoria this month. Moves into Queensland and Western Australia are slated for May, <a href="https://www.smh.com.au/business/online-property-transaction-system-pexa-tipped-to-cut-conveyancing-costs-20150217-13grh0">according to Fairfax</a>.
SmartCompany attempted to contact Paul Little this morning but did not receive a response prior to publication.
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Paul Little to join billionaire club: The property tycoon and entrepreneur’s five greatest hits

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Melbourne-based startup Easy Inspect has developed a platform that allows property buyers to share the cost of inspection reports with other interested buyers.
<a href="https://easyinspect.com.au/" target="_blank" rel="nofollow">Easy Inspect</a> conducts structural and pest inspection reports on behalf of potential buyers interested in residential properties that are up for auction. Currently, the service is limited to the Greater Melbourne Metropolitan Area, but the startup is looking to expand to Sydney later in the year.
Once a house is on auction, buyers have six weeks to register their interest in the property following advertising rotations. Founder Michael Stafford said that his aim is to make inspections more affordable and easier for home buyers.
“Most people tend to conduct pre-purchase inspections separately and spend between $550 - $600 per inspection. We want to put the power in the hands of buyers and offer a standard factor rate of $185,” he says.
“The cost depends on the model of the house. For instance, a unit’s inspection report may be less than $185. Additionally, if there are less than 3 buyers up until one week before the final auction is due, then we try to figure out a cost that could be slightly higher. Auctions are expensive and can be a rushed process so we try to help the buyers.
“For most people, this is the biggest investment they will make and where they invest their life savings into. The costs are high and inspections may be difficult to organise. If they lose out on auctions repeatedly, they decide to forgo inspections completely and that is a massive danger.”
Stafford says that he works with registered contractors to carry out inspections, who have a minimum of $10 million in insurance. He’s funding the startup himself and is not currently looking for investment.
“There are hundreds, if not thousands of competitors out there but no one follows the same model as we do,” he says.
“Buyers can feel safe when they use our app, the turnover time is very quick and our inspections are a third of the price if buyers went to individual firms to get their properties inspected.”
He hopes to tie up with mortgage brokers and real estate agents in the future to spread the service.
“We did our public beta testing and have a couple of sample test reports. Our PR launch will start this week and we hope first time home buyers will be ready to get on-board,” he says.
This article first appeared on <a href="https://www.startupsmart.com.au/" target="_blank">StartUpSmart</a>.
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