Holiday home buyers who have long gravitated to Queenstown’s alpine setting are increasingly looking for low-maintenance apartments that allow them to lock up and leave, while still generating income when they’re away.

For Wendy, who had spent years visiting the Queenstown and Arrowtown region, <a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>’s Mountain Oak Apartments provided the opportunity to formalise what had previously been a recurring holiday pattern.

“We always had Queenstown in the back of our minds to buy something there as a holiday home,” she says. “We love the Queenstown and Arrowtown area.”

<img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/658d4f_48c3ec1ae5df4a2cab7d23c07c7f51b3~mv2.jpg?VersionId=27K8oQ4ExDN8Yu70VHDa9Olq59XU36m3" />

Time spent visiting her sister-in-law, who owns in Arrowtown, along with regular stays at Millbrook Resort, had already shaped a strong personal connection to the region.&nbsp;

Rather than approaching the purchase purely as an investment play, Wendy’s starting point was lifestyle.

“We were more thinking about ourselves and where we could stay, and then the rental aspect was second.”

Mountain Oak Apartments, located within the masterplanned Remarkables Park precinct in Frankton, aligned with that thinking. The ability to secure the apartment with a deposit and settle on completion made the timing work.

“The fact that we could put a deposit down with the balance on completion was a bonus for us,” she explains.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/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/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Wendy selected a two-bedroom, two-bathroom penthouse, a configuration that supports both private use and guest flexibility.

“The two-bedroom, two-bathroom configuration appealed from both a rental viewpoint and for the ability to have friends stay while we are there,” she says.

Across the development, two-bedroom apartments range from 64sqm to 78sqm, with two-bedroom plus flexi options from 71sqm to 75sqm, each with an allocated car park. The flexi layouts introduce an additional space suited to work or hobbies, reflecting demand from buyers who split their time between leisure and remote work.

Apartments include underfloor heating in bathrooms, heat pumps to living areas, and joinery positioned to maximise natural light and mountain outlooks. The Remarkables Park precinct is known for its extended winter sunshine hours, water frontage and open views toward The Remarkables.&nbsp;

Units come in light and dark interior colour schemes.

<img alt="Mountain Oak Apartments draws holiday home buyers to Queenstown" data-entity-type="file" data-entity-uuid="fd685a22-3b95-43a1-87cb-48fdd42bb4ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_f9f89107c2704ebbbe5a6b36da508cb3~mv2.jpg?VersionId=MigFIEm6b.mrANANwxSmwHvC4RdJUuyR" />

While lifestyle was the primary driver, the fundamentals of the Queenstown market added reassurance.&nbsp;

“Proximity to the airport and tourism being the main attraction all year round,” Wendy says, when asked what stood out from an investment perspective.

Mountain Oak sits just eight kilometres from Queenstown’s CBD and around a two-minute drive from Queenstown Airport.&nbsp;

For Wendy, that airport proximity carries practical value.

“The airport proximity is a bonus, we think that being so close will be an attraction for the convenience side.”

Residents are also a short drive from Coronet Peak, Jack’s Point Golf Course, New World Supermarket, Five Mile Shopping Centre, and the dining, medical, gym, cinema and library amenities within the town centre, as well as the seasonal Remarkables Market.

Importantly, the purchase does not lock owners into a single use. Mountain Oak offers the flexibility to opt for short-term visitor accommodation or longer-term residential rental management, with 365-day visitor accommodation consent in place. Owners can utilise Safari Group’s 24/7 on-site management service or appoint their own provider, and do not need to decide on a strategy immediately.

“It was a bonus that we can rent it out as well as use it for ourselves,” she says.

Additional buying options, including furniture packages and storage units available for purchase within the building, further support a lock-and-leave model suited to interstate and overseas owners.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Mountain Oak Apartments comprises 141 residences, ranging from one-bedroom configurations through to larger apartments and penthouses. One-bedroom apartments are currently priced from NZ$639,000, with three-bedroom options from NZ$1,299,000.

With 365-day visitor accommodation consent, the development is structured to respond to Queenstown’s established four-season tourism economy, spanning winter ski traffic and summer hiking, cycling, golf and lake-based activity.

Although Wendy acknowledges the strength of rental demand, her approach remains long term.

“We’re not planning to sell it anytime soon, so we are keen to hang on to it, but the passive income will be a bonus.”

Confidence in the developer also influenced her decision. Before proceeding, Wendy sought feedback within the local building community.

“We asked around and Safari Group had a good reputation,” she says.

Safari Group has delivered more than 2,000 hotel units and residential apartments across over 18 developments nationwide, with more than 25 years’ experience in the sector.

With completion anticipated by mid-2027, Mountain Oak is attracting a cross-section of buyers, from yield-focused investors to lifestyle purchasers seeking a foothold in one of New Zealand’s most tightly held alpine markets.

For Wendy, it represents both a future holiday base and a long-term asset within Queenstown’s year-round tourism economy.

Joel Robinson

How Mountain Oak Apartments draws holiday home buyers to Queenstown

Eduard Litver's Capitel Group is seeking to redevelop Chatswood's Mandarin Centre in the heart of the burgeoning suburb.

Capitel Group, in a joint venture with Metis Group, has filed a State Significant Development Application (SSDA) to demolish the Mandarin Centre and construct a 32-storey tower designed by Skidmore, Owings &amp; Merrill (SOM) with 325 apartments.

The 3,524 sqm site at 61A-65 Albert Avenue will also home extensive retail amenity, both at street-level and across a four-level podium.

<img alt="First look: Metis and Capitel unveil $1.2bn+ plan to redevelop Chatswood’s Mandarin Centre" data-entity-type="file" data-entity-uuid="905976ea-08cd-409f-8a4c-33a3fb8bf351" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1771923441002.png?VersionId=f_xI2ejpxQvEm4fPqGji01RY9_AWVY6O" />

In its early stage Design Report submitted to the NSW Government's Housing Delivery Authority, SOM describes the ambition for the project as one that “aims to revitalise and reactivate an important corner of the Chatswood CBD.”

The architects note that the existing shopping centre “has a lack of vertical connection between its five levels of retail and a cumbersome pedestrian access from the street to the second-level transit connection,” framing the redevelopment as an opportunity to reconfigure circulation and better integrate with surrounding transport infrastructure.

The design adopts a single tower configuration, shaped through early testing to respond to neighbouring buildings and key public spaces.

Retail activation is concentrated at ground and lower podium levels, with a focus on food and beverage, lifestyle and wellness tenancies. The intent is to create a more permeable ground plane and improve connections between Albert Avenue, Victor Street and the Chatswood transport interchange, located within walking distance of the site.

<img alt="First look: Metis and Capitel unveil $1.2bn+ plan to redevelop Chatswood’s Mandarin Centre" data-entity-type="file" data-entity-uuid="b1e0c8cb-ee9b-41c1-97ac-0455c043b9e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/1771923442914.png?VersionId=y.Kbo.9bzLIbOabeygYts8Uf9imI.Dqh" />

The site occupies a prominent position on the southern edge of the Chatswood CBD core, bounded by Albert Avenue and Victor Street. It sits near the rail and metro interchange and within close proximity to Chatswood Chase, Westfield Chatswood, Chatswood Oval and a range of commercial office towers and residential buildings.

Chatswood has been one, and continues to be, of the most popular suburbs for developers in recent years. The most recent tower to launch is Hyecorp's Celine on Archer Street, which followed The Anderson by Changfa and Huirong.

Soon to launch is Coronation's Archer &amp; Albert nearby the new proposal.

Chatswood boom continues with Capitel and Metis’s $1.2 billion Mandarin Centre redevelopment

Apartment development applications continue to tally up in Rose Bay following the NSW Gov's 2025 update to the Low and Mid-Rise Housing Policy.

&nbsp;

Some $200 million worth of developments were filed in the space of four weeks at the back end of last year, with the likes of Fyve, HSN, Luxcon and Fortis all seeking to creating new apartment buildings.

The latest plans are for an amalgamated 3,105 sqm site across Conway Avenue, Fernleigh Avenue, and Carlisle Street. Developer Mathieson Property is planning <a href="https://www.apartments.com.au/new-apartments/dian-2-6-conway-avenue-rose-bay-nsw-2029">Dian</a>, 70 apartments across a new eight-storey building, perched on a ridgeline within walking distance of Rose Bay Town Centre.

The State Significant Development Application (SSDA), includes one-, two-, three- and four-bedroom configurations. Over 15 per cent will be dedicated as affordable, as per the NSW Government's push for affordable housing. The 17 apartments will be managed by a community housing provider for 15 years following completion of the building.

<img alt="First Look: Mathieson Property unveils eight-storey infill housing proposal ‘Dian’ in Rose Bay" data-entity-type="file" data-entity-uuid="f99c21d9-e69d-4a23-ae35-3244cfa0b4ae" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Rose%20Bay%20site_0.png?VersionId=67KSZfecJ3fvn1ewo9xxKrneRT.Nsjwd" />

MHNDU has designed the building around three central cores, with lower-level apartments arranged to maximise corner balconies and cross-ventilation. Upper levels are configured with dual north–south aspects to capture harbour views and solar access.

Private open space is a key feature of the scheme, with generous balconies and terraces throughout. Five ground-floor apartments would include private pools, while one upper-level residence will feature a rooftop terrace and pool. A communal room and adjoining landscaped outdoor terraces provide shared open space for residents.

<img alt="First Look: Mathieson Property unveils eight-storey infill housing proposal ‘Dian’ in Rose Bay" data-entity-type="file" data-entity-uuid="dd2e275f-c270-4eb1-9a02-2b573b8eb540" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Rose%20Bay%20front_0.png?VersionId=Us5jNEG6iLFLLMfQSzVBVdILYobBj.g9" />

The site sits around 365 metres walking distance of Rose Bay Town Centre and around 312 metres from regular bus services on New South Head Road, meeting the accessible area criteria under the Housing SEPP.

In early 2025, the NSW Government implemented significant changes to its Low and Mid-Rise Housing Policy, altering planning controls to allow greater density for new apartment projects within an 800-metre walking distance of stations and town centres in the&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025">Woollahra</a>&nbsp;Local Government Area, overriding existing local controls. Buildings are now permitted to rise up to six storeys within 400 metres of a station or centre, or eight storeys where affordable housing is incorporated, and up to four storeys within the 401 to 800 metre radius, which can increase to six storeys with affordable housing.

Mathieson Property unveils Dian Rose Bay apartment development

Lower North Shore developer <a href="https://www.apartments.com.au/developers/hyecorp-property-group">Hyecorp</a> is preparing to launch <a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine</a>, its new apartment development in Chatswood.

Set within a blue ribbon location on Archer Street, Celine will rise on a quiet, tree-lined enclave on the edge of the South Chatswood Heritage Conservation Area, a short walk from the connectivity which Chatswood is famous for.

Celine will deliver 122 one, two, three, and four-bedroom residences, designed to accommodate a broad range of buyers, from owner-occupiers to investors.

[smartcode_project:default project_id=149594 project_image_fid=362610]

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/fuse-architecture-0">Fuse Architects</a>, the 29-storey tower has been shaped to respond to its Archer Street setting, with a defined podium and slender upper levels.&nbsp;

The building incorporates a two-storey residential lobby at the corner, double-height retail fronting Bertram Street, food and beverage tenancies along a through-site link, and two levels of commercial office space.&nbsp;

A landscaped pedestrian connection between Archer and Bertram streets will provide a publicly accessible link through the site, extending activity at ground level beyond the building footprint.

[smartcode_project:default project_id=149594 project_image_fid=362606]

Inside, Hyecorp is emphasising scale and flexibility. Most residences will incorporate multipurpose rooms, allowing buyers to configure additional living, study or guest space within their floorplan.&nbsp;

Kitchens have been designed with proportions more commonly associated with standalone homes, complemented by Gaggenau and Miele appliances, integrated refrigeration, Miele laundry appliances, Taj Mahal stone and bronze tapware.&nbsp;

Buyers will also have the option to tailor aspects of their home through the developer’s “Live Your Way” personalisation service.

Resident amenity will include an outdoor pool, gym and sauna, as well as barbecue and lounge areas designed for shared use. Upper levels are oriented to capture eastern outlooks towards the Sydney CBD and surrounding greenery.

[smartcode_project:default project_id=149594 project_image_fid=362633]

The location places future residents within 800 metres of Chatswood Interchange, providing access to metro and rail services, and within walking distance of Westfield, Chatswood Chase and the Chatswood Concourse. Parks including Chatswood Park and Beauchamp Park are nearby, along with a cluster of schools and private hospitals.

Celine continues Hyecorp’s focus on the Lower North Shore. The Australian, family-owned developer has been operating locally for more than 30 years, with recent projects including Audrey in St Leonards, now nearing completion, and Juliet in Roseville. With registrations expected to open soon, Celine represents the group’s latest addition to the Chatswood apartment market.

[smartcode_project_cta:default project_id=149594]

Hyecorp unveils Celine, a striking new apartment tower in the heart of Chatswood

International development company <a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> has kicked off construction of the $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a>, one of the highest value developments to get underway on the Gold Coast in more than a decade.

Located on a 1.15ha site stretching from Surfers Paradise Boulevard to Ferny Avenue, Paradiso Place, when completed, will deliver 845 residences across three residential towers. &nbsp;

Paradiso Place has been several years in planning by SPG, which has now pushed the green light on construction to meet pent-up demand from investors and owner occupiers.

&nbsp;

[smartcode_project:default project_id=106566 project_image_fid=185858]

The move follows minor amendments to the original design to cater to buyer demand, including the provision of more premium residential amenity, including private dining, lounge and events spaces for residents to entertain guests.

The three towers, comprising 41, 40 and 44 levels, will bring to the market 845 apartments with each tower boasting its own podium level interconnected skybridge to create a unique elevated ‘beachside village’ for residents.

[smartcode_project:default project_id=106566 project_image_fid=362500]

The <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed development will bring a broad range of residences to the market, most offering ocean views and all enjoying five-star hotel amenities with world-class facilities and the convenience ground level retail precinct.

&nbsp;

Construction of Paradiso Place has been made possible by SPG’s newly established SPG Built division partnered with experienced project management group Eastview Australia, a company that has supported the development of a raft of major projects on the Gold Coast over the past two decades.

[smartcode_project:default project_id=106566 project_image_fid=362499]

“It’s a very exciting time for Paradiso Place as we start construction,” said SPG Land Chairman David Wang.

“We have spent our energy refreshing design and assembling the best team and waiting for what we believe is the right time to start construction on one of the most exciting mixed-use developments to proceed on the Gold Coast since Oracle in Broadbeach and Circle on Cavill in Surfers Paradise. &nbsp;

“The local and interstate downsizer market is getting stronger, and we see Paradiso Place as the right project for our times right now. Our company has the capacity to deliver large-scale projects, and we are thrilled to be bringing this vision to reality.”

&nbsp;

[smartcode_project:default project_id=106566 project_image_fid=185861]

SPG Invest, a company founded in Australia in 1998 with a focus on high-end real estate and premium hospitality assets, has delivered 56 projects in the Asia-Pacific region over the past twenty-five years, including The Peninsula Hotel Shanghai and the Global 188 twin-tower project in Suzhou and Cambridge Residences at Robina.

Paradiso Place will deliver a range of new apartments with two-, three- and four-bedroom layouts, as well as a collection of sub-penthouse and penthouse apartments across three levels. Prices start from $950,000.

[smartcode_project:default project_id=106566 project_image_fid=185852]

“We have a very strong vision for Paradiso Place – we are creating a unique beachside residential community where contemporary design &amp; architecture and luxury materials combine with five star residents’ amenities and the convenience of a premium retail precinct on the ground floor”, said SPG Land CEO Dr Ying Rao&nbsp;

“We are confident that the community will recognise that this is more than just another development. Paradiso Place will bring a much-needed retail precinct and lifestyle hub to northern Surfers Paradise with premium retail, lifestyle and food and beverage options,” Said Dr Rao&nbsp;

“The retail precinct is critical to enhancing the lifestyle amenity for residents and guests, so SPG will retain control of this precinct to curate a premium retail offering that will support this thriving new community.

“SPG will also retain short-term holiday letting to control premium and luxury outcomes in line with our vision.”

Construction of Stage 1 Paradiso Place is expected to be completed by end of 2029.

[smartcode_project_cta:default project_id=106566]

Construction commences on $1.5 billion Paradiso Place development in Surfers Paradise

Reiwa

<html><body>
A continuining drop in first home buyer numbers has chief executive of the Real Estate Instute of Western Australia (REIWA), Neville Pozzi, warning the government not to introduced any stamp duty increases for first timers.
He said that this drop should come as a budget warning to the state government.
“Given that first home buyers are dropping in numbers, it’s critical that the Treasurer doesn’t bring back stamp duty for this segment of the market,” Pozzi said.
Currently, first home buyers in Western Australia are exempt from stamp duty payments for homes under $500,000.
“It’s very concerning, however, that Premier Barnett has indicated that the current tax break for first home buyers is under review and might be changed,” he said.
“The housing market is very susceptible to cost pressures and making first homes more expensive would be a terrible blow to the market just as it’s starting to stabilise,” he said.
FHOG applications for the March quarter, as recorded by the Office of State Revenue, recorded a 9% drop. This is 21% below the June 2013 peak.
This drop is across both the established and new-build sectors, with established homes dropping by 14%.
“This means that grants being paid out have now fallen below the average since the FHOG was first introduced 14 years ago,” he said.
He noted that the "last thing" the market needs at present is any added cost pressure on first time buyers.
The median purchase by first home buyers in March was $470,000 in Perth, and $350,000 in regional Western Australia.
</body></html>

jduke-EHk3XBmHkn

REIWA chief executive warns against FHB stamp duty introduction

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
First home buyers are active in Perth’s property market, with data for the March 2018 quarter revealing an increase in sales for properties priced $500,000 and below.
REIWA President Hayden Groves said after observing subdued first home buyer activity during the December 2017 quarter, the lower end of the market had strengthen early in 2018.
“The final quarter of 2017 saw the composition of the Perth market shift.
The balance of sales had shifted back to the lower end of the market, Mr Groves said.
Perth’s preliminary median house price is $510,000 for the March 2018 quarter.
Mr Groves said once all sales settle, this figure was expected to increase to $517,000, which would put the March 2018 quarter median marginally lower (by 0.6 per cent) than the December 2017 quarter.
“Although Perth’s median house price experienced a minor adjustment during the March 2018 quarter, the median house price is up 0.4 per cent when compared to the same time last year, which shows prices are stable,” Mr Groves said.
Perth’s preliminary median unit price is $401,000 for the March 2018 quarter.
“This is expected to lift to $410,000 once all sales settle, which would put it equal with the December quarter median.
“These results are in line with REIWA’s 2018 forecast, which expects stable conditions throughout the remainder of this year, with moderate price growth during the next 12 months,” Mr Groves said.
Preliminary Landgate data shows there were 5,865 dwelling sales during the March 2018 quarter.
"We expect around 6,603 sales for the quarter overall, which is marginally lower than volumes recorded during the December quarter,” Mr Groves said.
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
There was a 5.7 per cent increase in house sales in the sub-$500,000 price range during the March 2018 quarter.
“Increased activity in the lower end of the market is usually a sign first home buyers are active. We are fortunate the dream of home ownership is more attainable for West Australians than it is on the east coast. After seeing activity drop off last quarter, it’s good to see first home buyers are increasing their presence in the market,” Mr Groves said.
There were 14,413 properties for sale in Perth at the end of the March 2018 quarter.
Mr Groves said listings had increased 10.2 per cent over the quarter, but were down 2.9 per cent when compared to the March 2017 quarter.
“While it is pleasing listings have declined on an annual basis, the increase over the quarter is not cause for alarm. With overall sentiment in WA improving and all signs indicating the market has begun to turn, sellers are feeling more confident than they have been and therefore more inclined to put their property up for sale.
“We’ve also seen a sharp decline in rental listings over the past year which has had a flow-on effect to the established market. With some investors choosing to sell their rental property instead of lease it, this has contributed to the rise in the number of properties for sale in Perth,” Mr Groves said.
It took 67 days on average to sell a house in Perth during the March 2018 quarter.
Mr Groves said although average selling days increased over the quarter, it was still two days quicker to sell than it was during the March 2017 quarter.
“With more listings on the market, buyers now have more choice, which has had an impact on the time it takes to sell. It’s very encouraging though, that on an annual basis, we’re seeing average selling days decrease,” Mr Groves said.
 
</div>
</div>
</div>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

Perth first home buyers return during March 2018 quarter

<html><body>
After four years of record low transactions, culminating in the lows of 2019 where there was a 55 per cent decrease in the number of sales compared to 2005, it’s clear that the property industry needs stimulus to attract buyers and investors back into the market.
REIWA President Damian Collins said the Western Australian property market is an integral part of the state’s economy which provides housing and a regular source of income for the State Government of WA.
“REIWA’s plan for prosperity post COVID-19 outlines recommendations that we believe will help boost the economy and enable more people to enter the property market,” Mr Collins said.
Reform stamp duty to boost WA’s economic recovery
REIWA is calling on the WA Government to commit to a full state tax review and feasibility study of a two-stream revenue collection approach to stamp duty.
“A two-stream approach would allow buyers to decide whether to pay the stamp duty upfront, or whether to opt in for an annual fee for the duration of ownership, with the reduction in upfront costs encouraging more transactions with a significant flow on effect to economic activity,” Mr Collins said.
Introduce a $10,000 stamp duty concession for seniors over the age of 65 to encourage appropriate ‘right sizing’
Not only is stamp duty a hindrance to affordability, it limits household’s ability to make appropriate housing decisions in accordance with their lifestyle choices, changing needs or economic reasons.
“In order to ensure WA has the right mix of housing options and diversity to meet the changing needs of the community, REIWA recommends that seniors’ households should be given the opportunity to right size and free up their existing housing by obtaining a concession on stamp duty costs for their next home,” Mr Collins said.
Formalise the stamp duty rebates for off-the-plan-purchases
“The current 75 per cent stamp duty rebate for buyers of off-the-plan and under construction apartments has been vital in ensuring an ongoing pipeline of projects, which in turn ensures a steady supply of diverse housing and jobs for West Australians.
“If a person bought an off-the-plan apartment prior to the rebate they paid stamp duty on the combined value of the land and the build, compared to a house-and-land package that is taxed solely on the value of the land.”
To keep off-the-plan apartments in line with house-and-land packages, REIWA recommends making the 75 per cent rebate permanent.
Remove stamp duty on the purchase of small businesses
WA is one of three states or territories that continues to collect stamp duty on a business purchase. A buyer who purchases a business to a value of $5 million will be liable for $251,415 in stamp duty.
“If stamp duty was abolished for the purchase of a small business, the potential saving could go towards employing five staff members on a full-time basis or 10 apprentices.
“With businesses facing even bigger challenges due to the impacts of COVID-19, we need to be encouraging people to buy small businesses which will create much-needed jobs, generate additional spending, as well as giving a helping hand to those who need to sell.”
Reintroduce the $7,000 first home owner grant for the purchase of existing dwellings
In 2019, the number of first home buyers reached its lowest levels since 2011 at just 13,653 and of those, 8.285 were for established properties and 5,368 were new homes.
“Allowing first home owners access to the $7,000 grant for established homes could increase their purchasing power and encourage more buyers, resulting in more stamp duty from the trade-up market.” Mr Collins said.
</body></html>

REIWA's plan for post-covid property prosperity

<html><body>
EXPERT OBSERVATION
In August, reiwa.com data shows it took a median of 21 days to lease a property in Greater Perth which is 13 days less than the same time last year – making it the quickest time to lease since the construction phase of the last mining boom in February 2015.
Strong demand in the rental market continued into August which recorded improvements to the median rent price, listings volumes and days to lease.
From an individual suburb level, Maddington was the fastest suburb to lease in August, taking a median of seven days to lease, which was closely followed by Armadale with nine days, Coolbellup and Wanneroo with 10 days, and Secret Harbour with 11 days.
The median rent has remained stable at $360, however houses increased $10 per week to $380 and with Perth’s vacancy rate sitting at 1.6 per cent, we can expect to see continued upward pressure on rents in the coming months.
A closer look at the data shows four out of five Perth suburbs experienced an improved or stabilised median rent price, with Perth, Ellenbrook, Hamilton Hill, Bentley and Scarborough the top five performers.
The high demand for rentals has seen rental stock on reiwa.com fall 10 per cent on July, with 3,205 properties for rent on reiwa.com at the end of August and based on present levels of enquiry we expect stock levels to decline further in September.
Feedback from our members on the ground is that there is still only a limited number of investors in the market looking to buy investment property.
It’s important that we return confidence to investors and one way the State Government can lead is to significantly reduce the number of properties subject to the residential tenancies COVID-19 legislation. Unless we get investors confident enough to get into the market, the rental shortage will only get worse.
Perth residential sales market
CoreLogic’s latest home value index shows dwelling values in Perth stabilised in August.
Although overall prices had remained stable in the Perth region, reiwa.com data shows 45 per cent of suburbs experienced an increase in median sale price.
Kelmscott saw the biggest increase to its median in August with a 5.4 per cent increase to $320,000, which was followed by Riverton (up 3.9 per cent), Duncraig (up 3.7 per cent), Piara Waters (up 3.6 per cent), and Carramar (up 3.4 per cent).
Interestingly, three of the top five suburbs had a median sale price under Perth’s median of $475,000 and suggests people are taking advantage of properties in Perth that are priced at the lower end.
Listings for sale were also down in August with only 10,627 properties for sale on reiwa.com, which is 1.2 per cent lower than July and 23.2 per cent lower than this time last year.
In the last few months, sales activity has been particularly strong due to the various government bonus schemes, so it is only natural as the interest around the stimulus eased, we saw activity in August decrease compared to July.
The suburbs that saw the biggest improvement in sales were Stirling, Shenton Park, Fremantle, Bayswater and Iluka.
It certainly appears that Greater Perth, and in fact a large part of Western Australia, has escaped the COVID-19 induced property slowdown. Given the high levels of demand and limited supply, we may even see prices rise later in 2020.
DAMIEN COLLINS is the REIWA President
</body></html>

WA rental properties leasing two weeks quicker in August: REIWA's Damian Collins

<html><body>
The announcement of the name of Japan’s new Imperial era has resulted in a boom in traffic for an Australian property group.
On Monday, Japan’s Chief Cabinet Secretary Yoshihide Suga announced that the country’s new Imperial era will be named Reiwa.
The announcement led to a surge in traffic to <a href="http://reiwa.com/" target="_blank">reiwa.com</a>, which is the website for The Real Estate Institute of Western Australia, also known as REIWA.
The Reiwa era will begin on 1 May 2019 with the term coming from an existing compilation of Japanese poetry and also represents fortune, peace and harmony.
REIWA CEO Neville Pozzi said 70% of traffic to reiwa.com today were Japanese people, mistaking the real estate portal for their country’s new imperial era.
Pozzi said the spike in attention from Japan could be an opportunity to lure foreign investment back into the state.
“REIWA is the number one trending hashtag on Twitter, and we even had comments on social media from Japanese people asking the bidding price of REIWA’s domain name,” he said.
“As an Institute, we want to embrace all of this traction and use it as an opportunity to entice migration and foreign investment back into our state in a fun and light-hearted way.”
“The Institute is making the most of its time in the social media spotlight, with hopes that this draws some much needed attention to the WA property market.”
</body></html>

jonathanchancellor-7SQnKwU6yx

Announcement of Reiwa era sparks surge in internet traffic for WA property group 

<html><body>
A new app is putting real-time real estate information into West Australian buyers and sellers, direct from the agent on the ground.
Officially launched on 26 October 2018 at REIWA’s CONNECT Real Estate Conference, the itrack property app allows buyers to track properties listed for sale on reiwa.com at the click of a button.
REIWA CEO Neville Pozzi said itrack gives WA property seekers a unique, 100% transparent insight into any property sales campaign they choose to track.
“We are excited to be powering the itrack property app, which we’re confident will benefit all parties involved in a real estate transaction,” Pozzi said.
“Buyers can track every movement of a property they are interested in, with factual and reliable notifications and updates sent to their phone as the property’s sales campaign progresses.
“For sellers, the itrack property app helps them to better gauge buyer interest levels, while for REIWA real estate agents, the app helps enhance productivity, providing a platform for them to connect better with interested buyers and build strong relationships with vendors.”
Gavin Hegney, Company Director of Gavin Hegney Property and real estate industry specialist, said what he loved most about the itrack platform is that it has created a circle of benefit for all those that engage in the process.
“Buyers are always wanting to know everything that is happening in a campaign and want to most importantly trust the information supplied,” Hegney said.
“With itrack, agents not only get a productivity tool to enable them to succeed in selling and listing more, but an environment that builds relationships - which is all powered by the Real Estate Institute of Western Australia, an organisation that reflects a position of integrity and transparency for everybody involved in the real estate transaction.”
The itrack property app is available to download now in the App Store and will be available on Google Play in the coming weeks.
</body></html>

New real estate app gives WA property seekers real-time information 

<html><body>
Damian Collins has been elected as the new president of the Real Estate Institute of Western Australia (REIWA).
Collins will follow Hayden Groves, who announced he was stepping down last week.
Lisa Joyce from Joyce Property Investments was elected deputy president.
 Collins has served on the REIWA Council since 2011 and as deputy president since 2015.
He is the founder and managing director of Momentum Wealth, a Perth-based property investment consultancy, and chairman of commercial property funds management business, Mair Property Funds.
“It is an honour to be elected President and I thank Council for bestowing me with the privilege of representing the Institute on behalf of its members,” Collins said.
“I would also like to thank Hayden Groves for his hard work and dedication to the Institute during his tenure as President.
“The Council and I are dedicated to continuing to build upon REIWA’s 100 year legacy of advocating on behalf of our members and the WA public.
“The WA marketplace remains a challenging environment for agents and vendors alike and there is much work to be done as our local market begins its recovery.”
<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/2018/10/4/photo-damian-collins.jpg" alt="">
At REIWA’s 100th Annual General Meeting last month, Hayden Groves announced he would be finishing his three year term.
Mr Groves, who will remain on the REIWA Council, was elected as President in 2015 having served on the Council since 2010.
“The past three years have been extremely rewarding and I thank the Council and REIWA members for entrusting me with the role over the past three years.
“My tenure as President has marked a very challenging time for the WA property market. We’ve seenstate migration slow, less demand from buyers and tenants, increased stock levels and subdued transactional activity.
“Somewhat unusually, no sector of the market has been spared the malaise, although tenants and buyers have benefited from improved affordability. Thankfully the worst appears to be behind us and I am hopeful a recovery is on the horizon.
“I look forward to continuing my service on REIWA’s Council, confident we will continue to build on all that REIWA has achieved over the past 100 years,” Mr Groves said.
The AGM also saw the results of the ballot for Council positions announced, with all four re-nominating Councillors returned to their positions.
REIWA’s Council includes:
<ul>
<li>
Suzanne Brown (Rentwest) [Re-elected]
</li>
<li>
Damian Collins (Momentum Wealth)
</li>
<li>
Hayden Groves (Dethridge Groves)
</li>
<li>
Lisa Joyce (Joyce Property Investments)
</li>
<li>
Peter Lawrance (Avanti Residential) [Re-elected]
</li>
<li>
Brett Thorp (Thorp Realty)
</li>
<li>
Rory Trotter (Force Real Estate) [Re-elected]
</li>
<li>
Krys Tully (Tully Real Estate) [Re-elected]
</li>
<li>Joe White (JMW Real Estate)</li>
</ul>
Council will elect office bearers, including the new REIWA President, when they meet on Thursday.
 
 
 
</body></html>

Damian Collins elected new REIWA President

<html><body>
GUEST OBSERVATION
REIWA is encouraging all members of WA Parliament to oppose the foreign owner duty surcharge.
The tax is poorly timed and will only serve to further stifle the state’s property market.
WA has the lowest level of foreign investment and foreign students of any capital in the country, besides Darwin. The state is also on the verge of a skills shortage and we need foreign families to fill that void.
This type of misguided policy will dampen the incentive for foreigners who are not permanent residents to locate and live here. The WA Government should be implementing policies that attract people to the state, not deterring them with unfair taxes.
Those that do come to WA, will be forced into the rental market for the duration of their stay, or until they obtain permanent residency. This will cause an upward pressure on rental prices, affecting everyone.
This new tax will also impact West Australians with foreign spouses.
West Australians with foreign spouses who purchase a home together would also be affected by this surcharge, with 50 per cent of the value of the property eligible for the seven per cent tax under the government's proposed legislation.
This policy has been touted as an investor tax, that only targets the big end of town, but that simply is not the case. In fact, land bought to be developed into eight or more dwellings is exempt.
Western Australia has a long history of migrants, coming to WA to work and raise a family. This surcharge sends a clear message that the door is closed, and there certainly won’t be a welcome mat!
This kind of Nationalistic policy will only dampen the property market and cause skills shortages to the detriment of everyone in WA.
Hayden Groves is President of the REIWA.
</body></html>

WA foreign buyer surcharge sends wrong message: REIWA

<html><body>
Perth’s median house and unit price increased, according to reiwa.com data.
REIWA President Hayden Groves said reiwa.com data indicated Perth’s median house price would settle at around $520,000 for the June 2018 quarter, which was up 1% compared to the March 2018 quarter and 2% compared to the June 2017 quarter.
“In addition, Perth’s median unit price is expected to lift by 4.9% to $419,500 for the June 2018 quarter, which is 2.3% higher than the same time last year," Groves said. 
"After declining during the March quarter, it’s pleasing to see prices rebound strongly this quarter.
"With the worst of the market downturn appearing over, the improvement in house and unit prices this quarter suggests buyer confidence is returning which should bode well for sellers as we move into spring.”
Sales activity reiwa.com data shows there were 6,900 sales recorded during the June 2018 quarter.
Sales volumes have declined during the June quarter, with the onset of winter having likely contributed to subdued activity levels.
Despite the overall decline in sales, numerous suburbs recorded more sales this quarter than they did last quarter.
The suburbs with the biggest improvement in house sales were North Perth, Queens Park, Singleton, Camillo and Beldon, while West Perth, Balcatta, Rockingham, Claremont and Mount Lawley had the biggest improvement in unit sales.
The composition of sales shifted during the June quarter, with more house sales recorded in the $800,000 and above price range than last quarter.
There were 14,382 properties for sale in Perth at the end of June 2018.
Groves said stock levels across the metro area had declined 1.1% during the quarter.
“We certainly appear to have hit the ceiling as far as listing stock is concerned. Despite fewer sales being recorded this quarter, it is encouraging to see stock levels have continued to be absorbed,” he said.
It took an average of 67 days to sell a house in Perth during the June quarter which is one day faster than both the March 2018 and June 2017 quarters.
Data from reiwa.com shows the proportion of vendors who had to discount their asking price in order to achieve a sale declined by five% between the June 2017 and 2018 quarters.
“With reductions observed in average selling days and discounting, this is a good indicator sellers are listening to the advice of their agents and pricing their property in line with market expectations,” Groves concluded.
</body></html>

Perth dwelling prices rebound slightly, hinting that downturn may be over

<html><body>
Perth’s rental market produced mixed results in the June 2018 quarter, with stable dwelling rents, subdued leasing activity, declining listings and faster leasing times, according to the latest REIWA.com.au rental report.
REIWA President Hayden Groves said the June quarter’s mixed results were not unusual given Perth’s rental market was in a transitional phase and “although the worst of the downturn appears to be behind us, it’s not uncommon to see results fluctuate as the market transitions into a recovery". 
“The change in seasons has also contributed to this quarter’s results, with the cooler weather impacting activity levels.
"We tend to see activity slow during the winter months before picking up again in spring."
Median rent prices Perth’s overall median rent price remained stable in the June quarter, holding at $350 per week for a fifth consecutive quarter.
"After experiencing prolonged periods of freefalling rent prices, the stability we’ve observed over the last 12 months is a welcome change and should provide landlords with confidence,” Groves said.
Although Perth’s overall rent was stable, reiwa.com analysis shows 102 suburbs across the metro area did experience median rent price growth.
The five best performing suburbs for rent price growth in the June quarter were Attadale (up 75.8% to $580 per week), Jolimont (up 50.9% to $423 per week), Burswood (up 33.3% to $480 per week), Booragoon (up 28.4% to $475 per week) and Hamersley (up 28.4% to $430 per week).
Other top performing suburbs were Karawara, North Fremantle, Mount Nasura, Mount Claremont and Hillarys.
In terms of leasing activity 12,633 total properties were leased during the June 2018 quarter.
Leasing activity has declined 10.4% over the June quarter and is down 4.1% compared to the June 2017 quarter.
Population figures for WA shows migration into the state has declined by five%, which has likely influenced leasing activity levels in Perth.
"After 12 months of stable rent prices, lower activity levels suggest tenants are feeling confident rental prices have found a floor and therefore more inclined to stay put,” Groves said.
Despite the overall reduction in leasing activity, reiwa.com data shows there were 71 suburbs across the metro area which saw leasing activity improve.
The five suburbs which saw the biggest improvement in activity were Brookdale (up 88.9%), Ocean Reef (up 75%), Kallaroo (up 63.6%), Parmelia (up 48.3%) and Hamersley (up 46.2%).
There were 8,293 properties listed as for rent in Perth at the end of the June 2018 quarter.
Groves said this figure was 2.5% lower than the March 2018 quarter figure and 22.9% lower than the June 2017 quarter meaning rental listings in the metro area have declined significantly over the last 12 months, with far fewer properties available for rent this year compared to last.
"A key driver for this improvement is the slowdown of new dwelling commencements, with less new properties coming onto the market, existing rental stock is being soaked up faster, putting downward pressure on listing volumes,” Groves said.
The average leasing time for the last quarter was on average 46 days to find a tenant, which is two days faster than the March quarter and six days faster than this time last year.
Groves concluded that: “Although leasing activity softened during the June quarter, activity levels remain above long term averages.
"This, combined with rapidly decreasing listings means tenants are needing to act faster to secure a rental property.”
</body></html>

Reiwa

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Reiwa

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News