National property developer Goldfields has secured permit approval and appointed Victorian residential builder Ironside to begin work on The Brightly, an 11-storey, wellness and lifestyle-focused mixed-use development in Richmond.

<a href="https://www.apartments.com.au/developers/goldfields-group">Goldfields</a> has partnered with Dexus Real Estate Partnership Fund 1 (DREP 1) as co-investor and delivery partner in the <a href="https://www.apartments.com.au/new-apartments/the-brightly-9-15-brighton-street-richmond-vic-3121">Brighton Street project</a>.

With architecture and interiors by design practice Cera Stribley, The Brightly will feature 100 apartments, a resident-only wellness space, elevated dining experiences including a private dining room and a rooftop garden lounge, and ground-floor retail designed to integrate with Richmond’s local character.

The wellness space will feature a hot magnesium pool, cold plunge, steam room, sauna, and a vitamin-infused drinking station for refreshment and rehydration.

The Brightly’s focus on wellness extends to the rooftop landscaped by award-winning landscape architect Jack Merlo. It will feature canopied retreats and panoramic views of the Melbourne CBD and Richmond Hill treetops. Residents can also host guests with a private bookable dining space on the rooftop garden lounge and an indoor option on the first level.

Cera Stribley’s architectural vision drew inspiration from the surrounding area, using the flowing form of the train lines to shape the façade and create a dialogue between the building and Richmond’s rich history. The design features a four-level podium lined with lush greenery, honouring the suburb’s character and streetscape through its scale and materials.

There will be a choice&nbsp;of one-, two- and three-bedroom apartments, along with 19 exclusive sub-penthouses and penthouses, for prospective purchasers.

Lachlan Thompson, Goldfields’ CEO, said The Brightly will define a new kind of urban luxury for Inner East living.

“By drawing on Richmond’s vibrant mix of culture and hospitality, we’ve combined a lifestyle centred on wellness,” Thompson said.

“Its proximity to Melbourne's sports and entertainment precinct, the CBD, parks, and public transport makes it a prime location for both young professionals and those seeking a lifestyle change. What we’ve created is something remarkable - it’s real, it's Richmond, and it’s refined."

Dexus Real Estate Partnership Fund 1 Fund Manager, Jason Howes, said the Brightly is a high-quality investment in a high demand area with limited residential stock expected to be added in the coming years.

“Partnering with Goldfields, we are delivering a project that will redefine lifestyle focused urban living, offering residents exceptional design and amenities in one of Melbourne's most vibrant suburbs,” he said.

Onsite demolition is underway, with construction set to commence in April 2026 and completion targeted for late 2027. The Brightly will launch to market in mid-2026.

[smartcode_project_cta:default project_id=146631]

Joel Robinson

Goldfields greenlit for The Brightly, Richmond apartment development

The Allan Labor Government has revealed the remaining 23&nbsp;Train and Tram Zone Activity Centres as part of their plan to try and encourage development around some of Melbourne's most connected suburbs.

The new zones includes&nbsp;four smaller ‘neighbourhood centres’ to plan for more modest growth.

<ul>
	<li>Five are connected to the new Metro Tunnel and are now experiencing more services: Caulfield, Springvale, Noble Park, Yarraman (neighbourhood centre), and Dandenong stations.</li>
	<li>Eight are along the Frankston Line, which has recently returned to the City Loop: Hawksburn, Toorak (Beatty Avenue), Armadale (High Street), Malvern (Glenferrie Road), Glen Huntly, Ormond, Bentleigh, and Mentone stations</li>
	<li>Four are along the Sandringham Line, which will see an increase in services later this year: South Yarra, Prahran, Windsor and Elsternwick stations</li>
	<li>Three are on the Belgrave/Lilydale Line and benefit from five-minute peak services on average between Ringwood and the city: Blackburn, Nunawading, and Mitcham stations</li>
	<li>Two neighbourhood centres on the Alamein Line: Ashburton Station, plus a combined centre for the two closest stations on the metropolitan network Riversdale &amp; Willison stations</li>
	<li>One neighbourhood centre, Toorak Village, is a built-up area along the Route 58 tram.</li>
</ul>

The <a href="https://spatial.planning.vic.gov.au/activitycentre/">draft maps</a> will now be subject to detailed community consultation.

A similar process occurred for the first 10 pilot Activity Centres, with clear changes made as a direct result of this community consultation.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/vic/50-new-train-and-tram-zone-activity-centres-to-encourage-new-apartment-development-across-melbourne">50 new ‘train and tram zone’ activity centres to encourage new apartment development across Melbourne</a>

The final train and tram zones will set clear expectations on where new homes can go, cutting out delays, uncertainty and red tape and getting homes off the ground. The remaining two in inner-Melbourne that cover the entire Local Government Areas of Melbourne and Yarra, will go through a separate process.

In the immediate ‘core’ the plans allow for more homes in taller apartment buildings.&nbsp;Some cores have heights of six storeys, while others have up to 20 storeys, only when it is in line with those councils’ planning work.

Eligible buildings across the core will be ‘deemed to comply’ with planning rules and be exempt from VCAT review. Applications in the core that exceed the specified height of the site are not eligible for this fast-tracked pathway.

In the walkable catchments that surround the core, the plans propose gentler height limits and more low-rise apartments and townhouses. Heritage and landscape overlays will stay in place.

Inner catchments, representing up to a five-minute walk from the station or centre, propose limits of four storeys, or six storeys on larger blocks of more than 1,000 sqm, while outer catchments, representing up to a 10-minute walk from the station or centre, propose limits of three storeys, or four storeys on larger blocks of more than 1,000 sqm.

By 2051, train and tram zones will help deliver more than 300,000 new homes, with final plans for all 50 new centres expected to be completed by mid this year.

“We want more Victorians to have the opportunity to live close to public transport, their loved ones, and the things that matter to them,"&nbsp;Minister for Planning Sonya Kilkenny said.

“Whether it’s making it easier to build homes close to public transport, townhouses in our inner suburbs, or family homes with a backyard, our planning reforms are all about giving more Victorians real housing choice.

“While we’re focused on giving more young Victorians the opportunity to have a home of their own, the Liberals are blocking them from being built. They oppose more homes near transport, jobs and services.”

Toorak and South Yarra earmarked for greater density as VIC Gov releases final Train and Tram Zone Activity Centres

Glen Waverley’s housing shortage is set to be closed by 50 per cent with the approval of 795 new apartments which will rise from a former carp park in the heart of the suburb.

The plans, lodged by <a href="https://www.apartments.com.au/developers/sunkin-property-group">Sunkin Property Group</a> and now approved by the Victorian State Government Development Facilitation Program, will transform the 6,114 sqm carpark at 281 Springvale Road, into an $800 million, mixed-use residential and commercial development in the metropolitan activity centre.&nbsp;

“281 Springvale Road has received planning approval for a mixed-use, high-density development that will provide much needed homes in Melbourne’s middle-ring suburbs, including affordable housing," Sunkin's GM of Property and Development Lloyd Collins says.

"We worked closely with key stakeholders, the Department of Transport and Planning, Suburban Rail Loop Authority and Monash City Council to achieve an integrated design with an activated retail ground level that will add to the success of Glen Waverley.

Glen Waverley’s population is projected to grow by 9 per cent by 2031, with an additional 1,600 dwellings required to &nbsp;service the area.

Around 1,000 sqm of the former carpark has been retained by Monash City Council for a new Civic Plaza, creating a central meeting point and public transport link for the local community. &nbsp;

Sunkin Property Group acquired the site from Monash City Council in 2024. The site will remain open as a public carpark until development commences.

[smartcode_project_cta:default project_id=149491]

$800 million, 800-unit development permit fast-tracked for Glen Waverley carpark

UAE developer <a href="https://www.apartments.com.au/developers/arada">Arada</a> is continuing to unveil its billions of dollars of residential development it is set to deliver in Australia.

Following on its plans for <a href="https://www.apartments.com.au/news/nsw/arada-pitches-castle-hill-apartment-plans-ahead-of-2026-launch">431 apartments in Castle Hill</a>&nbsp;and the 2025 bail-out of construction firm Roberts &amp; Co so it can build its own developments, Arada&nbsp;has sought the NSW Government's approval for three towers in the Campsie town centre.

The project, dubbed One Campsie, has been designed by Woods Bagot and will deliver 346 apartments to Beamish Street across three interconnected towers rising 24, 32, and 39 storeys.

According to the Woods Bagot Architectural Design Report, the design seeks to “redefine the urban experience of a rapidly transforming town centre,” delivering housing above an activated ground plane that integrates civic and commercial uses. The design adopts a three-part vertical composition, stepping and articulating the tower to reduce visual bulk and respond to its varied urban interfaces.

<img alt="First Look: Arada unveils 39-storey mixed-use tower for Campsie town centre in State Significant Development bid" data-entity-type="file" data-entity-uuid="f515807f-7277-4ea5-8b2b-a5718514f30a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campsie%20podium.png?VersionId=J3oSJpOvye8gpg1kjagODjdhOb0Cl28I" />

At street level, the scheme places significant emphasis on public domain upgrades. A new civic plaza is proposed opposite the Orion Theatre, alongside a landscaped pocket park and a through-site pedestrian link connecting Beamish Street to Campsie Street and Ninth Avenue. The Urban Design Justification Report states that the proposal “builds on Council’s Master Plan by applying a place-led urban design framework that responds to the site’s unique conditions and enhances pedestrian experience and public benefit.”

The documents note that the development aligns with the Master Plan’s intensification strategy for sites within walking distance of the Metro station, while seeking to retain solar access to key public spaces. As outlined in the Urban Design Report, the proposal delivers “intensification within walking distance of the Metro Station while retaining solar access to key parks."

<img alt="First Look: Arada unveils 39-storey mixed-use tower for Campsie town centre in State Significant Development bid" data-entity-type="file" data-entity-uuid="586ad606-a84f-49cc-b715-fc3ecb731205" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campsie%20podium%20a.png?VersionId=gNHaD.Os8yW4LVOdsJIdmmhlgQArs0Gm" />

Woods Bagot’s design narrative also draws on local history and Aboriginal cultural context. The Architectural Design Report references engagement with Wangal Country and the Cooks River landscape, seeking to embed a connection to Country through material selection, planting, and public art integration. The broader vision, as described in the report, is to create a building that functions as a “community catalyst, not only as a place to live, but as a vibrant destination for work and play that brings people together, supports local culture, and contributes meaningfully to the civic identity of Campsie.”

<img alt="First Look: Arada unveils 39-storey mixed-use tower for Campsie town centre in State Significant Development bid" data-entity-type="file" data-entity-uuid="f1bc9a44-0c1a-4e3f-8b27-38070b0d2744" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_2.png?VersionId=1JmMWg6jOU1rPpS9hCxy8s8H48xc0EiM" />

Located at 124–142 Beamish Street and 16–18 Ninth Avenue, the site occupies a key stretch of Beamish Street, Campsie’s traditional high street, characterised by fine-grain retail, multicultural dining, and proximity to civic infrastructure including the Orion Theatre and Canterbury Civic Centre. The proposed civic plaza and pocket park aim to strengthen this interface, formalising connections between retail frontages, public transport, and community facilities.

If approved, One Campsie would mark one of the tallest and most ambitious additions to the suburb’s skyline, reflecting the broader shift toward higher-density living around transport nodes in Sydney’s middle-ring centres.

First Look: Arada files for trio of apartment towers in Campsie town centre

Syd​ney builder-developer Scion has lodged a State Significant Development Application (SSDA) for a 22-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">96 Anzac Avenue, West Ryde</a>, marking a significant step in the transformation of the Victoria Road gateway precinct.

Designed by Turner, the proposal would replace an ageing two-storey commercial building with 145 apartments and 29 co-living rooms, above ground-floor retail and three basement levels of parking.

The 3,149 sqm site sits just 150 metres from West Ryde train station, at the edge of the suburb’s retail core and diagonally opposite Anzac Park. It occupies a prominent corner with frontages to both Anzac Avenue and Victoria Road, positioning it as a key transition point between established residential neighbourhoods and the commercial centre.

The scheme is being advanced under the Housing Delivery Authority pathway as a State Significant Development, alongside a concurrent rezoning to lift the site’s height and floor space ratio controls.

Turner says in the Architectural Design Report that the proposal "responds to a unique opportunity to support the revitalisation of West Ryde through the delivery of a landmark development that combines high-quality residential offerings with enhanced public realm and active ground plane uses.”

Scion will be pushing height almost five times higher than what had been pitched for the site before.

Turner says the increased scale aligns with Council’s strategic direction for the precinct, including the West Ryde Town Centre Revitalisation Strategy (2019), the Draft Masterplan (2021), and the West Ryde–Meadowbank Renewal Strategy (2023).

“The increased height and density proposed aligns with Council’s evolving strategic direction for the precinct, as outlined in the Draft Revitalisation Strategy (2019), the 2021 Draft Masterplan, and the broader West Ryde–Meadowbank Renewal Strategy (2023), which collectively call for higher density, transit-oriented development and design excellence."

Turner describes the vision as establishing “a contemporary, mixed-use development that contributes positively to the West Ryde town centre.”

<img alt="West Ryde" data-entity-type="file" data-entity-uuid="c5c22c11-92b8-4ca6-b77b-b5848ae0176d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-02-12%20at%202.41.34%E2%80%AFPM.png?VersionId=aom0z8azYDw7Hl6.A6vDbCom5ozZICn5" />

The architectural response has been shaped by the site’s gateway role along Victoria Road and its proximity to Anzac Park and surrounding heritage elements, including the Sydney Water pumping station opposite the site.

The design process also incorporated consultation around Connecting with Country principles. The design report outlines engagement with Cultural Heritage Consultants Artefact and Aunty Julie, a Burruberongal woman of the Darug Nation, informing planting selection, materiality and potential public art opportunities.

Turner says the scheme aims to optimise the site’s capacity while balancing yield and amenity.

“The proposed scheme seeks to optimise the site’s potential by balancing yield, amenity, and urban integration. It will deliver a high-quality, mixed-use precinct that supports West Ryde’s ongoing transformation into a connected, accessible, and liveable centre."

Scion recently completed the build of its own development, The Sterling in Lane Cove. They are currently building Chatham in West Ryde, just 500m from the new proposal. Those 62 apartments will complete later this year.

First look: Scion pitches tower plans for West Ryde

Real Estate News

<html><body>
As is the case with a range of sectors, Facebook has removed the posting of a range of major real estate portals, trade media and real estate member organisations.

The Facebook pages of Realestate, Domain, Allhomes and Urban, have all been obstructed as real estate portals have been affected by Facebook’s decision to ban Australian news content from its platform.

REIA is currently assessing the situation and the impact on the industry as a whole as Facebook has been an important channel to connect with Australian’s looking to buy and rent property.

The move follows the debate on proposed legislation from the Australian government that seeks to push internet platforms — with a particular focus on advertising giants Facebook and Google — to pay news publishers directly for access to share their content.

REIA President, Adrian Kelly said he is confident real estate marketing will continue to reach its customers.

“From a real estate sales perspective, buyers will go where the properties are being advertised which could ultimately be to Facebook’s detriment," Mr Kelly said

“Covid has proven that estate agents are very quick to adapt to new technologies and that will be the case in the current environment."

“As with COVID-19, for agencies and our customers, the show must go on,” Mr Kelly added.
</body></html>

Facebook has removed the posting of a range of major real estate portals, trade media and real estate member organisations as of this week

jordan_55689

Australian real estate slapped by Facebook takedowns

<html><body>
EXPERT OBSERVER
There’s been a striking absence of balance in newspaper coverage of real estate in recent times. That mythical beast that some analysts call “the Australian property market” has been having either a rampant boom or a catastrophic collapse, with little middle ground.
Residential property appears to exist in a no-win situation. When prices were falling in some of our major markets earlier in the year, it was described as a national crisis. It was the biggest downturn on record and consumers were refusing to spend because their property values were “plummeting”.
And now that prices are rising again, that’s a catastrophe as well - because affordability is evaporating and no one will be able to buy.  APRA will be forced to act to squash rampant price escalation.
We have far too many economists, journalists and other poorly-credentialled commentators stressing over the resurgence in the so-called national property market. Consumers would benefit if everyone took a cold shower and had a wee lie down.
Part of the problem is the obsession with the two biggest cities and the tendency towards generalisation. Far too often, outcomes in Melbourne and Sydney are converted into a national scenario which plainly does not exist. Another part of the issue is sensationalism.
Here’s the Financial Review on 3 December: “Economists warn that Australia’s banking regulators will be pressured into introducing a new round of macroprudential tightening measures if the strong and swift surge in house prices continues into the new year.”
The Sydney Morning Herald on 2 December wrote: “Clearly, such increases in prices cannot be sustained. Sydney is growing at an annualised rate of almost 40% and Melbourne at almost 30% which – if continued – would see the median price hit $1.3 million and $1 million respectively by this time next year.”
A 5 December article on domain.com.au quoted economists from NAB, St George and AMP Capital fretting over the “sharp upturn” in prices and the return to “boom-time behaviour”. The lack of quality analysis was reflected in AMP’s Shane Oliver comment that prices may go ballistic because “it has that feel about it”, while NAB’s Alan Oster was quoted as saying: “We’re not sure if it will keep going. But we didn’t expect it to be this quick.”
Another SMH headline shouted: “RBA and Government walk tightrope on soaring house prices”.
All this and a lot more was based on one month’s price data from a single research source. Mainstream media has gone overboard in the coverage of this breath-taking event – and most have compounded their over-reaction by attributing everything to the recent interest rate reductions. 
An economics writer at The Australian wrote on 2 December that “the Reserve Bank’s controversial interest rate cuts have electrified the national housing market”. On the same day, an article in the Fairfax network had this headline: “Sydney and Melbourne house values surge on lower interest rates”. 
And a “business columnist” wrote in The Age: “Residential property prices are on a headline-grabbing tear as monthly growth rates hit a 21-year record ... The floodgates have started to open as cheap money has unleased pent-up demand and spurred buyers to bid up prices”.
This is kindergarten analysis. What about the host of other major factors which have influenced our many and varied real estate markets – like the Federal Election result, the APRA changes, the tax cuts, the assistance package for first-home buyers, the rise in consumer sentiment, the general shortage of supply - and, in some markets, big population growth and major infrastructure spending.
One research source claims big rises in Melbourne and Sydney in November (but less prolific rises for the bulk of the nation) and journalists have run amok.
I would pose this question: When did journalists stop questioning things? And when was it okay for writers to not have expertise on the subject about which they are writing?
A well-informed commentator would know this: if you source the latest price data on any of our capital cities from four different big-name entities, you get four different results. And often the figures from one source contradict those from another.
There are several major cities where, in annual terms, prices have risen according to some sources, but have fallen according to others. 
Misinformation abounds in real estate coverage and the losers are real estate consumers. It’s time for everyone to lift their game in 2020. But I won’t be holding my breath.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
</body></html>

terryryder-YECXbqmri2

Too much generalisation in Australian real estate: Hotspotting's Terry Ryder

<html><body>
The Agency has partnered with real estate coach Claudio Encina, who will reportedly be providing a tailored and on-call coaching service to company's east coast team. “I have known Claudio Encina for close to 40 years, both professionally and personally, he is an outstanding coach who genuinely cares about the welfare and success of the agents he is coaching. He individualises his service to every agent, there is nothing cookie cutter about Claudio’s approach,” Matt Lahood, The Agency’s CEO explains.
“No one can downplay the challenges everyone has experienced through this pandemic and we all need a support network. I will be back working closely with our agents providing guidance and mentorship and I am thrilled I will have Claudio Encina by my side working so closely with our agents also.” Claudio Encina has been coaching agents for more than ten years, and has been in the industy for 25 years.
“My first step with The Agency is to work closely with the agents on creating a strong position in the post-Covid market. At first it was about pivoting and quickly adapting to the necessary changes Covid required, but now we need to shift the needle on their businesses,” Claudio Encina says. “This includes the 12-week sprint to spring and strategic planning around the five critical drivers within an agent’s business.” 
According to Claudio Encina, agents can sure up their business’s future with a pro-active project management approach addressing the five critical drivers.
He describes these critical drivers as: lead generation; nurture (client ecosystems); conversion; vendor expectations and buyer management.  “I am honoured to work with The Agency and alongside Matt Lahood who I have known for 40 years. It is a prestigious brand with an impressive stable of agents. I am looking forward to providing support and proactively helping the agents grow and flourish professionally and personally,” Claudio Encina concluded.
</body></html>

j.ballantyne1990-6AQqhLzZaK

The Agency partners with real estate coach Claudio Encinas

<html><body>
The Director of Consumer Affairs Victoria has issued a public warning under section 223 of the Australian Consumer Law (Victoria) (ACL(Vic)) and section 228 of the Australian Consumer Law and Fair Trading Act 2012, regarding the conduct of Craig Alan McIntosh in the supply of real estate services.
<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/2017/08/31/Craig%20Alan%20McINTOSH%20%20July%202017.jpg" alt="">
The department has issued an image of Craig McIntosh (pictured above) given its concerns he has not and has never been a licensed estate agent.
On 17 March 2015, Consumer Affairs Victoria obtained injunctions against Mr McIntosh under the ACL (Vic), barring him from acting as an estate agent until he was licensed to do so.
While Mr McIntosh is eligible to be employed an agent’s representative, Business Licencing Authority (BLA) records currently show he is not employed by any real estate agency.
On 16 February 2017, Mr McIntosh ceased employment as an agent’s representative with a licensed estate agent operating under various trading names, including:
<ul>
<li>McIntosh Lincoln</li>
<li>McIntosh Lincoln City Residential, and</li>
<li>McIntosh Lincoln Property Concierge.</li>
</ul>
The estate agency was located at Level 11/180 Russell Street, Melbourne.
Consumer Affairs Victoria has been informed that since 16 February 2017, Mr McIntosh has held himself out to be able to:
<ul>
<li>engage in providing real estate services, and</li>
<li>receive funds on behalf of people selling or purchasing real estate.</li>
</ul>
The CAV is concerned that Mr McIntosh is continuing to:
<ul>
<li>undertake the business of an estate agent while not being licensed as an estate agent </li>
<li>hold himself out to be an agent’s representative while not under the supervision of a licensed estate agent, and</li>
<li>request payments for the purchase of real estate into a bank account that is not an authorised trust account and to which he has sole access.</li>
</ul>
The CAV is also concerned that any money provided to Mr McIntosh since 16 February 2017 may not be considered trust money under the Estate Agents Act 1980, and will therefore not be protected under the Victorian Property Fund.
"Until further notice, consumers are warned to not engage Mr McIntosh's services as an estate agent or provide him with any money for the purchase of real estate," the department has warned.
Any consumer who has been approached by Mr McIntosh since 16 February 2017 in relation to the purchase or selling of real estate, or has provided or been asked to provide any form of payment to him in relation to any real estate transaction, can contact us on 1300 55 81 81. 
In 2015 Sunnymac Pty Ltd, trading as McIntosh City Residential, and its director Craig Alan McIntosh, were first restrained from carrying on business as a real estate agent until licensed to do so, by order of the Melbourne Magistrates’ Court.
The court accepted that Sunnymac (ACN 1199 107 08) and Mr McIntosh, then 48, of Southbank, contravened the Estate Agents Act 1980 by acting as an estate agent without a licence. 
The court granted an injunction restraining Sunnymac and Mr McIntosh from acting as an estate agent in any way, including in any statements or advertising. 
Consumers are strongly encouraged to deal only with licensed estate agents when buying or selling property.
</body></html>

CAV public warning on Craig McIntosh over real estate transactions

<html><body><div class="cq-article-content-paras section">
Australia's apartment market is self-correcting with fewer projects in the pipeline, according to Andrew Schwartz, the co-founder and managing director of real estate investment firm, Qualitas.
But it won't crash, Schwartz suggests.
He suggested the Australian market had certain qualities that allowed it to self-correct including high levels of migration, a demographic shift towards apartment living and low and stable levels of rental vacancy.
Another key distinction of the local market is the mix of foreign and local buyers.  “Although there has been a lot of concern expressed about the volume of sales to foreign buyers, the Australian banks – again, using very prudent lending standards - have insisted that a maximum of 30% (and often much lower) of total sales could be made to foreign purchasers.   “In addition, we know from our own experience that approximately one-third of all foreign buyers settle using their own cash resources.
"So, even assuming all the remaining foreign purchasers fail to settle - which seems a very harsh assumption - the banks will still have very comfortable levels of security,” Mr Schwartz said.  “Given the high level of pre-sales required upfront, the dominance of local buyers, and the banks’ conservative lending standards, we think it’s highly unlikely that there would be a rush of bank liquidation sales for apartments.  “There could be a short period where there is some market excess, but overall, we continue to see the absorption rates being strong, as evidenced by continuing sales across well-designed projects.  “The demographics also continue to weigh in favour of residential apartments – including an ageing population seeking to downsize, an influx of offshore students, and continued high levels of immigration,” Mr Schwartz said.
The boutique lender, which was founded in 2008, has financed or invested in $3.5 billion worth of real estate projects, mostly apartment projects.
He anticipated any potential apartment over supply would be short-lived. 
"By 2020, prices will have risen, especially in Sydney and Melbourne, to support a new round of much-needed development projects," he said.
"However, we do see some warnings on the horizon for the short term. This includes increased supply concentrated into specific precincts across Australia, fully priced site values, rising construction costs, lower levels of available construction finance, and curbs on loans to foreign purchasers and additional taxes for this group," he said.
</div></body></html>

jchancellor-FAypfDUnLy

Australian apartment market won't crash: Qualitas

<html><body>
Matt McCann, the former CEO of Australian product comparison websites iSelect and Compare the Market, has joined the online real estate business LocalAgentFinder, reports The Australian Financial Review.
LocalAgentFinder, a privately owned company, is preparing for an initial public offering in the first half of 2017.
It is expected to seek about another $20 million to $30 million in equity.
The company told shareholders that McCann's experience in corporate finance and in operating high-growth companies made him an ideal choice to lead the company's next phase of growth.
</body></html>

jonathanchancellor-7SQnKwU6yx

LocalAgentFinder apppoints Matt McCann

<html><body>
The Australian Competition and Consumer Commission has issued a draft determination proposing to deny authorisation to Property Media Group Pty Ltd (PMG).
PMG is seeking to collectively bargain and boycott suppliers of online and print real estate advertising, including realestate.com.au and domain.com.au.
PMG made the application for authorisation on behalf of itself and 170 real estate agents ranging from individual agents to representatives of large franchise groups.
“While the ACCC considers that collective bargaining and boycott action can be in the public interest in certain circumstances, we are not satisfied that the conduct proposed by PMG would result in significant public benefits,” ACCC Commissioner Roger Featherston said.
“The ACCC is particularly concerned by the potential size and scope of collective bargaining groups and boycott activities, combined with uncertainty about how PMG will ultimately conduct negotiations and implement any boycotts.”
PMG has sought authorisation for the conduct because it sees realestate.com.au and domain.com.au as having significant market power, charging excessive prices and essentially forcing real estate agents on to premium contracts.
However the ACCC considers that while realestate.com.au and domain.com.au have some market power, there is evidence of competition, both between each other and from other small and mid-tier players. The ACCC also received information which shows that real estate agents can and do enter into a diversity of contracts and listing types, including within the same region.
The ACCC is now seeking submissions from Property Media Group and interested parties in relation to its draft determination, before making a final decision, expected in October 2016.
Background
PMG seeks authorisation for proposed Australia-wide collective bargaining and boycott arrangements, which will commence within regions of Victoria. In particular, PMG seeks authorisation on behalf of a large number of real estate agents and franchisors of real estate groups to collectively negotiate terms, conditions and fees with any suppliers of online or print residential real estate advertising in Australia.
It also seeks authorisation for agents to boycott realestae.com.au or domain.com.au in certain circumstances.  A collective boycott involves two or more competitors agreeing not to acquire goods or services from a target supplier. In this case, PMG has indicated that a boycott may include agents agreeing not to acquire premium property listings, or participating agents in a region agreeing not to enter into contracts with a real estate platform. However, PMG would have broad discretion to select what kind of boycott activities for real estate agents to engage in, including the possibility of a national boycott of a real estate advertising platform by all of the participating real estate agents. 
The ACCC is now seeking submissions from Property Media Group and interested parties in relation to its draft determination, before making a final decision, expected in October 2016.
Further information, including a copy of the draft decision, is available from the ACCC’s Public Register: <a href="https://www.propertyobserver.com.au/https://registers.accc.gov.au/content/index.phtml/itemId/1195336/fromItemId/278039" target="_blank">Property Media Group Pty Ltd - Authorisation - A91537 &amp; A91538</a>
Authorisation provides immunity from court action for conduct that might otherwise raise concerns under the competition provisions of the Competition and Consumer Act (2010).
About the authorisation process:
<ul>
<li>Generally, the ACCC can grant authorisation if it is satisfied that the public benefit from the conduct outweighs any public detriment, including any lessening of competition.</li>
<li>The ACCC is required to publish a draft decision (‘determination’) in relation to an application. This is usually 3–4 months after receiving an application.</li>
<li>The ACCC will conduct public consultation with interested parties both before and after a draft determination.</li>
<li>The ACCC will generally release its final decision (‘determination’) 5–6 months after receiving an application.</li>
</ul>
</body></html>

ACCC denies PMG collective bargaining boycott on property website ads 

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Real estate firm Laing+Simmons Parramatta has raised some $3000 for medical research in the first month of its campaign as part of its 21st birthday celebrations. 
From every property sold from July to the end of the year, $300 will be donated to the Westmead Medical Research Foundation.
Ray Fayad, group principal said with five months to go he expects this amount will increase dramatically as sales are boosted by the recent interest rate cut combined with the seasonal spring increase in property market activity.
“Buyer demand for western Sydney property remains strong and our vendors are taking their properties to market with confidence, while also helping us to do our bit for an important cause,” he said.
“They make a real difference to people in need of care and their families, and we’re delighted to be able to support their work as our way of acknowledging our 21 year association with the area.”
The money raised will go towards critical care and research. 
 
For more information, click <a href="https://www.wmrf.org.au%20" target="_blank">here</a>.
</div>
</div>
</div></body></html>

Real Estate News

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Real Estate News

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News