<p>A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.</p>

<p>The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.</p>

<p><img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" /></p>

<p>The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.</p>

<p>According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.</p>

<p>Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.</p>

<p>"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."</p>

<p><img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" /></p>

<p>The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.</p>

<p>Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.</p>

<p><img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" /></p>

<p>Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.</p>

<p>Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.</p>

<p>They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.</p>


Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

<p>Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.</p>

<p>In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.</p>

<p>The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.</p>

<p>The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments</p>

<p>The site currently comprises three commercial properties.</p>

<p><img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" /></p>

<p>The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.</p>

<p>The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.</p>

<p><img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" /></p>

<p>A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.</p>

<p>Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.</p>

<p>Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.</p>


First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<p><a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.</p>

<p>The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.</p>

<p>[smartcode_project:default project_id=134974 project_image_fid=5427]</p>

<p>The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.</p>

<p>Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.</p>

<p>[smartcode_project:default project_id=134974 project_image_fid=5421]</p>

<p>The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.</p>

<p>Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.</p>

<p>With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.</p>

<p>[smartcode_project_cta:default project_id=134974]</p>


Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

<p>A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.</p>

<p><a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.</p>

<p>Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.</p>

<p>[smartcode_project:default project_id=152125 project_image_fid=363778]</p>

<p>The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.</p>

<p>Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.</p>

<p>Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.</p>

<p>The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.</p>

<p>[smartcode_project:default project_id=152125 project_image_fid=363782]</p>

<p>Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.</p>

<p>Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.</p>

<p>[smartcode_project_cta:default project_id=152125]</p>


Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

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


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

Rental Property

<p>It&#39;s time for investors to start thinking differently about their rental properties and marketing them to fit the growing work-from-home trend.</p>

<p>This means adapting to demand and updating your property to match the needs of the young professionals and students who may need study and workspaces to accommodate their new lifestyles.</p>

<p>Urban takes a look at the top tips for creating the ideal study zone in your inner-city investment property.<br />
&nbsp;</p>

<ul>
	<li><strong>Tip 1: Find the space</strong></li>
</ul>

<p><img alt="" height="661" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_1693064941.jpg" width="1000" /></p>

<p>Whether it&rsquo;s within a bedroom, a hallway or in a dedicated study, finding the perfect space to modify into a work-from-home study zone is an important first step.</p>

<p>Urban recommends exploiting underutilised &lsquo;dead space&rsquo; &ndash; an alcove or a landing that may fit a small desk or collapsible shelving.<br />
&nbsp;</p>

<ul>
	<li><strong>Tip 2: It&rsquo;s all about lighting</strong></li>
</ul>

<p>Lighting can have a huge effect on the efficiency of study and work, as well as make your property look bigger and brighter.</p>

<p>It is generally agreed that natural light is best when it comes to general lighting for your home study space, as natural light has been claimed to increase productivity and performance.&nbsp;</p>

<p>If natural light is not possible in your investment property, warm lighting can deliver similar benefits.</p>

<p><img alt="" height="497" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_1482794711.jpg" width="1000" /></p>

<ul>
	<li><strong>Tip 3: Set up a brand-new desk</strong></li>
</ul>

<p>Standing out from the competition is important when seeking good tenants, so there&rsquo;s no denying that good marketing and some furnishings go a long way, especially in an apartment marketed towards students.</p>

<p>Setting up a brand-new desk lets prospective renters imagine desk space in the home and may even secure more competitive prices for your inner-city apartment.<br />
&nbsp;</p>

<ul>
	<li><strong>Tip 4: Add some greenery</strong></li>
</ul>

<p>Besides looking beautiful and creating a more welcoming&nbsp;home, research shows that there are numerous&nbsp;benefits to having plants in work zones.&nbsp;</p>

<p>Plants have been proven to boost your mood, improve memory, and increase productivity.</p>

<p><img alt="" height="667" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/shutterstock_1575692173.jpg" width="1000" /></p>

<p>Apartments nearby universities, research hubs and numerous employment opportunities are the ideal location for investors to secure their next investment property.</p>

<p>Here are four investor-friendly apartments for sale now in Melbourne.<br />
&nbsp;</p>

<p><strong>1. Melbourne Grand, Melbourne</strong><br />
Address: 560 Lonsdale Street, Melbourne VIC 3000<br />
Two-bedroom apartments from $569,000</p>

<p>[smartcode_project:default project_id=3490 project_image_fid=92412]</p>

<p>Winner of the HIA &lsquo;Victorian apartment complex of the year 2020,&rsquo;&nbsp;Central Equity&rsquo;s Melbourne Grand provides an outstanding living experience.</p>

<p>Less than a kilometre away from Monash University&rsquo;s Parkville campus, investors can secure high-income researchers as well as postgraduate students who will enjoy the apartment&rsquo;s ideal location.</p>

<p>Designed by Guildford Bell and Graham Fisher Architects, Melbourne Grand features various amenities, including resort-style facilities, residents&rsquo; lounge, 17-seat theatre and coffee bar.<br />
&nbsp;</p>

<p><strong>2. Port Lane, Port Melbourne</strong><br />
Address: 201 Williamstown Road, Port Melbourne VIC 3207<br />
Three-bedroom townhomes from $1,025,000</p>

<p>[smartcode_project:default project_id=89720 project_image_fid=147505]</p>

<p>Boasting 122 three-bedroom residences, Port Lane offers a quality selection of townhomes in Port Melbourne.</p>

<p>Developed by ID_Land, the coastal community delivers an authentic and distinctive design to sit in harmony with the Port Melbourne community.</p>

<p>Architects&nbsp;Rothelowman&nbsp;and interior designers&nbsp;Hecker Guthrie have designed the home with contemporary palettes and materials.</p>

<p>Curated landscaping by Tract frame the townhomes, with a verdant entrance pergola marking each residents&rsquo; arrival.<br />
&nbsp;</p>

<p><strong>3. Live City, Footscray</strong><br />
Address: 124-188 Ballarat Road, Footscray VIC 3011<br />
Two-bedroom apartments from $460,000</p>

<p>[smartcode_project:default project_id=3565 project_image_fid=68184]</p>

<p>Backed by developer R&amp;F Property Australia, the new master-planned Live City project comprises 208 residences spread across 14 floors.</p>

<p>Set to deliver over 1,400 apartments across eight buildings, the project brings together a fully-integrated, mixed-use community that&rsquo;s thriving with character and history.</p>

<p>Designed by&nbsp;Elenberg Fraser, each apartment features floor-to-ceiling windows, contemporary interiors and an abundance of natural light.<br />
&nbsp;</p>

<p><strong>4. The Docklands Residences</strong><br />
Address: 3-43 Waterfront Way, Docklands VIC 3008<br />
Two-bedroom apartments from $1,050,000</p>

<p>[smartcode_project:default project_id=3205 project_image_fid=45291]</p>

<p>Located atop the five-star Marriott Hotel,&nbsp;Docklands&nbsp;Residences provide timeless luxury living in Melbourne&rsquo;s inner-suburbs.</p>

<p>Set atop the five-star Melbourne Marriott Hotel, homeowners of the oversized one, two and three-bedroom&nbsp;Docklands&nbsp;residences will enjoy exclusive hotel membership, access to services and amenities and true luxury living.</p>

<p>Designed by award-winning architects&nbsp;DKO, the unique mixed-use project boasts floor-to-ceilings windows, terraces and a private enclosed glass winter garden.</p>

<p>&nbsp;</p>


It's time for investors to start thinking differently about their rental properties and marketing them to fit the growing work-from-home trend

max.kwok_55688

Investor tips for creating the ideal study zone in your inner-city apartment

<html><body>
<div>Within the Consumer Price Index figures, the ABS produces some very useful quality-adjusted figures on rental price inflation. </div>
<div> </div>
<div>The data series shows how rents can rise very fast when investors are spooked out of the market, such as between 1985 and 1987 (changes to tax legislation) and 2008 (global financial crisis).</div>
<div> </div>
<div>When investor activity is high, on the other hand, the growth in rents is likely to be weaker, and this is also the case when low interest rates make buying a home comparatively more attractive than renting. </div>
<div> </div>
<div>In this context, nationally annual rental price growth is at its lowest level in more than 22 years, at 0.6 per cent.</div>
<p><a href="https://4.bp.blogspot.com/-TapbS0WJLJA/WIiHzukMDfI/AAAAAAAAhak/ndXk6_mJwuYkNIMYlgamcTe_ZXRg6mH3QCLcB/s1600/A5.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-TapbS0WJLJA/WIiHzukMDfI/AAAAAAAAhak/ndXk6_mJwuYkNIMYlgamcTe_ZXRg6mH3QCLcB/s640/A5.jpg" width="640" height="340"></a><br><br>In Perth, annual rental growth has turned negative to the tune of -7.2 per cent.<br><br></p>
<div><a href="https://2.bp.blogspot.com/-uEibKl7v3wA/WIiHzuEUPiI/AAAAAAAAhag/SXTXMTsRc6glPmclKzhWpDZgTpWppJaLgCLcB/s1600/A3.jpg" target="_blank"><img src="https://2.bp.blogspot.com/-uEibKl7v3wA/WIiHzuEUPiI/AAAAAAAAhag/SXTXMTsRc6glPmclKzhWpDZgTpWppJaLgCLcB/s640/A3.jpg" width="640" height="352"></a></div>
<p> </p>
<div>Darwin is by some margin the weakest rental market, with rents declining by -8.2 per cent in 2016.</div>
<div> </div>
<div>On the other side of the ledger, Hobart is the tightest capital city rental market, with quality-adjusted rents increasing by 3.5 per cent in 2016. </div>
<p> </p>
<div><a href="https://1.bp.blogspot.com/-UxoHSu6V94w/WIiHzDbkYtI/AAAAAAAAhac/dxkvE9U8dU8nCp-g_SVnqVl0DqN1_KvIgCLcB/s1600/A4.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-UxoHSu6V94w/WIiHzDbkYtI/AAAAAAAAhac/dxkvE9U8dU8nCp-g_SVnqVl0DqN1_KvIgCLcB/s640/A4.jpg" width="640" height="358"></a></div>
<p> </p>
<div>A look at the long-run figures shows that despite the supply response real rents in both Sydney and Melbourne continued to rise to all-time highs. </div>
<p> </p>
<div><a href="https://4.bp.blogspot.com/-4bBihfkI2e8/WIiH0l1XAdI/AAAAAAAAhao/x9GcxFT-oyogKdHKJnWFu4ENGUXxTHbPQCLcB/s1600/A6.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-4bBihfkI2e8/WIiH0l1XAdI/AAAAAAAAhao/x9GcxFT-oyogKdHKJnWFu4ENGUXxTHbPQCLcB/s640/A6.jpg" width="640" height="340"></a></div>
<p> In real terms, at the city level Brisbane rents are certain to move lower in 2017 due to the inner city apartments overbuild. </p>
<p>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</p>
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pwargent-M4siyDbqQY

Where capital city rents are falling further in 2017: Pete Wargent

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<p>As expected SQM Research's figures showed vacancy rates declining in August in every capital city, and rents jumping in the big cities. </p>
<p>Hobart's vacancy rate fell to just 0.5 percent, while both Sydney (1.7 percent) and Melbourne tightened (1.9 percent) despite talk of an oversupply.</p>
<p>Asking rents for units were up by +4.5 percent in Melbourne and +4.0 percent over the year to August, suggesting that "landlords are in control of the market" according to SQM. </p>
<p>Vacancy rates also declined in August in Brisbane, Adelaide, Perth, Darwin, and Canberra. </p>
<p><a href="/images/2016/09/23/SQM1.jpg" target="_blank">Click to enlarge</a></p>
<div id="x_post-body-4621751620857808479" class="x_post-body x_entry-content">
<div class="x_separator"><img src="/images/2016/09/23/SQM1.jpg" alt=""></div>
<div> </div>
<div>Smoothing the data on a 4mMA basis shows that Canberra's market has also tightened substantially, with asking rents soaring by +12 percent. </div>
<div> </div>
<div>The smoothed figures show that Darwin is on the mend, but Perth still has a 5 percent vacancy rate to chew through before rents can rise again. </div>
<div> </div>
<div><a href="/images/2016/09/23/SQM2.jpg" target="_blank">Click to enlarge</a></div>
<div> <img src="/images/2016/09/23/SQM2.jpg" alt="">
</div>
<br>According to Louis Christopher of SQM Research:<br><br><div><em>"Sydney is likely to remain a landlords' market, as the city's growing population creates demand for new stock".</em></div>
<div> </div>
<div>Only in one sub-region of Sydney has SQM recorded an increase in advertised vacancies. </div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Vacancy rates drop everywhere, big city rents jump

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<p>My housing supply dashboard showed how dwelling completions have been tracking well ahead of population growth in Western Australia. </p>
<p>And now SQM Research has reported that vacancy rates in Perth rose again to 5 per cent in June, in turn suggesting that Perth's property downturn still has a way to run.</p>
<p>Indeed, vacancy rates edged higher in most cities in June, Adelaide and Darwin excepted.</p>
<div id="post-body-1509958214451859734" class="post-body entry-content">
<div> <a href="https://www.propertyobserver.com.au/images/2017/07/20/B1.jpg" target="_blank">Click to enlarge</a>
</div>
<div> </div>
<div class="separator"><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/2017/07/20/B1.jpg" alt=""></div>
<br><div>The below chart smooths vacancy rates on a 6mMA basis. </div>
<div> </div>
<div>While not a true reflection of 'trend', since it doesn't account for the higher vacancy rates typically experienced over the Christmas period, it does show that Perth and Darwin have experienced consistently elevated vacancies since the peak of the resources construction boom. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/07/20/b2.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><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/2017/07/20/b2.jpg" alt=""></div>
<br><div>Asking rents for houses in Perth have declined by 6 per cent over the past year, while in Darwin the equivalent figure is as high as 11 per cent. </div>
<div> </div>
<div>Record apartment completions have taken some heat out of asking rents in Sydney and Melbourne -with Melbourne vacancy rates bouncing off 7-year lows - though apartment rents remain higher year-on-year in both of the most populous capital cities by 3 per cent and 6 per cent respectively.</div>
<div> </div>
<div>The average asking rent for a 3-bedroom house in Sydney is now $725/week, and for units the figure is $522/week.</div>
<div> </div>
<div>Vacancy rates remain tight in Canberra at 1.2 per cent, and extremely tight in Hobart at 0.7 per cent, leading to soaring rents for houses in the Tasmanian capital.</div>
<div> </div>
<div>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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Perth, Darwin rents still falling

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<div>There's been a fair amount of talk about negatively geared landlords, and whether they might need to sell property during the rental market disruption.<br><br>You should never judge a 20-30 year investment on what's happening right now, but it's nevertheless worth taking a look at the current state of play.<br><br>With the Airbnb sector effectively shuttered at the present time some areas have seen a 5 to 10 per cent jump in rental listings as landlords seek tenants, especially in areas that are generally popular with students, holidaymakers, or short-stay lets.<br><br>With the borders also effectively closed to New Zealanders, tourists from China and India, and international students, there's likely to be a scramble for tenants over the coming months.<br><br>On the flip side, of course, Aussies aren't heading overseas either, so the net effect is less pronounced.<br><br><div class="separator"><img src="https://1.bp.blogspot.com/-NHMwiB8le_s/Xqi_KI_OKqI/AAAAAAAA1co/f9bzKMhEbmYEpvVXqz0_K20qZL-txRQgACNcBGAsYHQ/s640/STDs.jpg" width="640" height="374" data-original-height="801" data-original-width="1370"></div>
<br>The New South Wales State Government looks set to do its part with the apartment overhang by buying up unsold new apartments from developers. </div>
<div> </div>
<div>The compensating good news for landlords is that some of the available mortgage rates have plunged over recent months.</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-pjevvfP3Yqo/Xqfy-Yv2d1I/AAAAAAAA1bk/7w7WuVZNbwIz8t-1h7xSFw_7uqsyT_JOACNcBGAsYHQ/s640/A1.jpg" width="640" height="576" data-original-height="460" data-original-width="510"></div>
<p>The latest figures aren't available yet, but when they are they'll probably show that interest cost serviceability is back to where it was about 35 years ago.</p>
<p><img src="https://1.bp.blogspot.com/-U63M-j09Ntk/Xqi7novQO8I/AAAAAAAA1cc/OkXV1ekccmcdanXhcxsw06e9sh5RH5xYgCNcBGAsYHQ/s640/RBA.jpg" width="640" height="366" data-original-height="804" data-original-width="1405"></p>
<p>Some of the 'rack rate' variable mortgage rates are still unreasonably high for investors, but for those taking a  moment to shop around rates may now be very low indeed. </p>
<div class="separator"><img src="https://1.bp.blogspot.com/-utLoCT8JsAI/Xqfy-UAUzRI/AAAAAAAA1bg/QL_0FM-tVpoEsEb-2ahfFuCDG8rnX3L7ACNcBGAsYHQ/s640/A2.jpg" width="640" height="569" data-original-height="452" data-original-width="505"></div>
<div> </div>
<div>New owner-occupiers can secure mortgages from close to 2 per cent in some cases, while rates tend to be higher for investors. </div>
<div> </div>
<div>A lot of the statistics quoted on the number of negatively geared landlords are years out of date (the figure was 1.3 million in 2016-17, but interest rates have nosedived since then, so the figure would be lower today). </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-ax0fxiMRIWA/XqgICpdCNzI/AAAAAAAA1cE/jhwZkE_NPqUru7XOFDfo_7zNp-ZzSB_oQCNcBGAsYHQ/s640/A1.jpg" width="640" height="372" data-original-height="803" data-original-width="1378"></div>
<div class="separator"> </div>
<div>Even assuming flat rents, a stylised model suggests that net rental losses will now be the lowest in years.</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-mSLzexWYa9Y/XqgIrBCLKfI/AAAAAAAA1cM/WdaAxSWcgVQrt_-KYTWnJrygMWw8HTcLACNcBGAsYHQ/s640/A2.jpg" width="640" height="378" data-original-height="804" data-original-width="1360"></div>
<div class="separator"> </div>
<div>Most investors own one rental property, and the <em>average</em> net rental losses will probably be about $1,000 to $1,500. </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-fJOA94Z--0E/XqgI_sP-EAI/AAAAAAAA1cU/kvvfz_yAISsSMN9qI1wJB8a8PjjCAQ7egCNcBGAsYHQ/s640/A3.jpg" width="640" height="356" data-original-height="795" data-original-width="1427"></div>
<p>The detailed Australian Taxation Office statistics <em>do</em> show that many of those investors aged between 30 and 60 choose to hold an investment property with a reportable net rental loss of between $5,000 and $10,000 per annum, partly to reduce their income tax payable. </p>
<div>Generally this cohort tends to be the white collar set, earning solid incomes in relatively speaking more secure positions.<br><br><strong><span style="text-decoration: underline;">Depreciation report (MCG)</span></strong>
</div>
<div> </div>
<div>Moreover, the net rental loss reported to the ATO is not the same thing as the investor's cashflow.</div>
<div> </div>
<div>In fact it's possible to be negatively geared from a taxation perspective but still to have a positive cashflow, due to on-paper depreciation benefits and capital allowances. </div>
<div> </div>
<div>MCG's <em><strong>1000 Assets 2020</strong></em> report showed that there was a big increase in investors buying new property over a period of four years through the construction boom.<br><br>These investors tend to receive very significant depreciation benefits, but I expect there will many investors in this cohort facing negative equity as brand new property tends to...well, depreciate.</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-LXKGk0-vSl8/Xqfy-bjRErI/AAAAAAAA1bc/uvep4GJkIOIKIe7UcB23jW7SJe_NezhnQCNcBGAsYHQ/s640/A3.jpg" width="640" height="498" data-original-height="484" data-original-width="620"></div>
<div class="separator"> </div>
<div class="separator">MCG's study also found that investors have become more aware of depreciation benefits, and as a result they're claiming deductions sooner than they used to. </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-bZw0gTkdc-I/Xqfy_Vt2PaI/AAAAAAAA1bo/-iZcH1CbheglY3FVRKQlrNlsWbwzZgdxACNcBGAsYHQ/s640/A4.jpg" width="640" height="402" data-original-height="798" data-original-width="1265"></div>
<div><em> </em></div>
<div><em>Source: MCG Quantity Surveyors</em></div>
<div><span style="text-decoration: underline;"><em> </em></span></div>
<div>Some property investors will choose to sell, of course.<br><br>But the number of forced sellers will be lower than otherwise would've been the case due to record low mortgage rates, while borrowers have also been extended the option to switch to interest-only loans or take a 6-month repayment holiday. </div>
<div> </div>
<div>A couple of years ago many reports suggested that the interest-only reset would lead to a spike in mortgage arrears, but owners adapted and arrears barely moved. <br><div> </div>
<div>
<strong>PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em>
</div>
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Will investors hold or sell in this troubled time? Pete Wargent

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<p>Key workers – such as teachers, nurses, ambulance and fire officers and the police – perform essential services.</p>
<p>Across the Sydney some 156,000 workers are employed in these occupations, equating to some six per cent of the workforce.</p>
<p>However, high property prices and high rents are placing barriers to their home ownership which were not experienced by previous generations. </p>
<p>There is now a serious mismatch between where key workers live and work, according to an important report prepared by Sydney University researchers for the Teachers Mutual Bank, Firefighters Mutual Bank, Police Bank and My Credit Union.</p>
<p>The report found that in the decade to 2016, key areas in Sydney lost up to 20 percent of teachers, nurses, policy and emergency service workers to outer and regional areas, while areas including the Illawarra, Southern Highlands and the Hunter Valley had net gains.</p>
<p>In 2006 more than 20 local government areas were affordable to a police senior constable. By 2016, that number had declined to four. </p>
<p>The majority of key workers now reside in outer ring suburbs, which the report advised was unlike other world cities, such as London, New York, or San Francisco.</p>
<p>The problem begins with the shortage of affordable rental homes near employment as this undermines the capacity to save for a deposit.</p>
<p>An enrolled nurse with five years experience on $57,000, requiring a one bedroom rental property, would be able to afford a median property in only 9 per cent of middle ring suburbs and in no inner ring suburbs. </p>
<p>As a consequence, many key workers are commuting long distances to get to work, or are living in unaffordable rental accommodation. </p>
<p>There's no doubting Sydney needs its Macquarie Street policy makers to improve key worker access to home ownership given the lack of affordable and appropriate homes.</p>
<p>But the report also identified one way to help restore housing options that requires innovative consideration of the plight of challenged home buyers bu the banking and superannuation sectors.</p>
<p>A key suggestion was the implementation of shared equity models that have long been used in the United Kingdom to help low and moderate income earners enter home ownership. </p>
<p>According to the UK Council of Mortgage Lenders, there are around 200,000 shared ownership homes in the UK where eligible households can purchase a minimum of 25 per cent of a property (and up to 75 per cent) and pay a rent of 3 per cent on the remaining share.</p>
<p>Over time the household can purchase the remaining equity in the property from the affordable housing provider partner (who owns the balance), or repay it when the house is sold. </p>
<p>We need mortgage lenders to embrace shared ownership.</p>
<p>It needs superannuation funds to joint venture with banks in this product. </p>
<p>This article was first published in the Saturday Daily Telegraph.</p>
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jchancellor-FAypfDUnLy

Banks need to embrace shared ownership concept as way forward for home affordability

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<p class="Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb">A Sunshine Beach, Noosa district holiday rental has reportedly secured $80,000 a week this Christmas, making it the most expensive known rental in the country.</p>
<p class="Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb">Evgeny Skigin has leased <a href="https://domicnoosa.com" target="_blank">the uber-luxurious home, Domic</a>, which was built in 2019 into sand dunes on Seaview Terrace in Sunshine Beach.</p>
<p class="Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb">Its reported build cost was $21 million, taking three years to construct on the block of land that cost $5.4 million in 2013.</p>
<p><img src="https://www.urban.com.au/images/Screen%20Shot%202020-12-03%20at%2011.23.46%20am.png" alt=""></p>
<p>Niche Luxury Accommodation managing director Sue Willis told The Courier Mail the $12,570 a night listing had three bookings over the summer period, totalling 10 nights.</p>
<p class="Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb">It’s understood one is a Sydney financier while another is a property developer from Melbourne.</p>
<p class="Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb">The three-level, concrete domed building with 1400 sqm of living space is camouflaged under a green canopy, on almost 1ha of land on the edge of Noosa National Park with landscaping by <span>James Birrell Design Lab.</span></p>
<p class="Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb"><span>There is a 25 metre pool, day spa, gymnasium, plus cinema room and a conference room.</span></p>
<p class="Text__Typography-zot5yv-0 iBYKpG StyledP-cebixd-0 hUfumb">The 71 Seaview Terrace home was designed by Brisbane architect Noel Robinson for Skigin, whose industrial hemp business is one of the leading providers of the usable fibre in the world.</p>
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$24 million Noosa home, Domic secures $80,000 a week Christmas rental

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<p>Rental and accomodation scams have spiked over the COVID-19 hit 2020, with a 76 per cent increase representing over $300,000 scammed so far this year.</p>
<p>According to Scamwatch, there have been 560 reports of rental scams in 2020, which itself is an increase of 56 per cent.</p>
<p>They suggest that many are using tactics related to COVID-19.</p>
<p>These scams target people seeking new rental accommodation by offering fake rental properties to convince people into handing over money or personal information.</p>
<p>“Scammers are offering reduced rents due to COVID-19 and using the government restrictions to trick people into transferring money without inspecting the property,” ACCC deputy commissioner Delia Rickard said.</p>
<p>The ACCC say that the scammer will post advertisements on real estate or classified websites or target people who have posted on social media that they are looking for a room.</p>
<p>After the victim responds, the scammer will request an upfront deposit to secure the property or phish for personal information through a ‘tenant application form’, promising to provide the keys after the payment or information is provided.</p>
<p>The scammer may come up with excuses for further payments and the victim often only realises they have been scammed when the keys don’t arrive and the scammer cuts off contact.</p>
<p>Some scammers will even impersonate real estate agents and organise fake inspections, victims will then arrive to discover the property doesn’t exist or is currently occupied.</p>
<p>“The loss of personal information through rental scams is becoming more common, with scammers requesting copies of identity documents such as passports, bank statements or payslips,” Ms Rickard said.</p>
<p>“Once a scammer has your personal information you are at risk of being targeted by further scams or identity theft.”</p>
<p>“Many people are also experiencing financial difficulties due to the pandemic and the financial impact of falling victim to a scam can be devastating,” Ms Rickard said.</p>
<p>People aged 25-34 reported the most rental scams so far in 2020, and the most reports came from NSW, VIC and the ACT.</p>
<p>“Try to view a property in person before paying any bond or rent money to landlords or real estate agents,” Ms Rickard said.  </p>
<p>“In areas of Victoria under COVID-19 level 4 restrictions this is not possible, but you can help protect yourself by doing an online search to confirm the property exists and, if dealing with an agent, checking that the agent you are dealing with is licensed.”</p>
<p>“Scammers often rely on email communications to avoid identification, do an independent search for a phone number and speak to the property manager over the phone or arrange a meeting in person,” Ms Rickard said.  </p>
<p>“Before making any payments ensure you are dealing with the licensed agent, if a scammer has your details they may impersonate a real estate agent and attempt to ‘follow-up’ requesting money after an inspection.”</p>
<p> </p>
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jrobinson-rf4aSBido9

Rental and accomodation scams prey $300,000 from Aussies

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<p><strong>EXPERT OBSERVATION</strong></p>
<p>The latest consumer price index (CPI) data released shows that Australia is in deflation, and over the quarter, national rents fell by -1.3 per cent, which was both the largest and first quarterly decline on record.</p>
<p>Nationally, the cost of renting is now back at levels last recorded in March 2017.</p>
<p>Despite falling rents throughout the quarter, the volume of rental searches on realestate.com.au is actually up 38.5 per cent.</p>
<p>Not only are people searching more, the volume of high-intent activity on the rental section of realestate.com.au is also up by 74.5 per cent over the same period.</p>
<p>The results are a clear indicator of how COVID-19 has changed the property market dynamic.</p>
<p>Rental rates are coming under pressure from multiple sources. We have virtually no migration, there is new stimulus encouraging purchasing from first home buyers who otherwise may have been renters, and then there's the fact that unemployment is rising, and younger people are most affected.</p>
<p>With a moratorium on rental evictions in place until September, the next quarter is unlikely to see rental CPI fall as severely. Thereafter it is likely rental rates will fall further and will take quite some time to recover to previous highs.</p>
<p>The high demand on realestate.com.au is likely due to the possibility of finding cheaper and or better rentals, as evidenced by the CPI data.</p>
<p><strong>Cameron Kusher</strong><em> is director of economic research at the REA Group</em></p>
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j.ballantyne1990-6AQqhLzZaK

Falling rental rates unlikely to bounce back soon: Cameron Kusher 

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<p>The ATO has issued a guide to explain how to treat rental income and expenses, including how to treat more than 230 residential rental property items.</p>
<div class="page" title="Page 5">
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<p><a href="https://www.ato.gov.au/uploadedFiles/Content/IND/downloads/Rental-properties-2020.pdf" target="_blank">Rental properties 2020</a> will help owners of rental property in Australia to determine:</p>
<p><span>* which rental income is assessable for tax purposes<br></span></p>
<p><span>* which expenses are allowable deductions</span></p>
<p>*which records you need to keep</p>
<p>* what you need to know when you sell your rental property.</p>
<p><span>The guide explains </span><span>how to apportion your expenses if only part of them </span>are tax deductible.</p>
<p>It advises tax payers can no longer claim tax deductions for the cost of holding vacant land.</p>
<p>It also advised the situation if your rental property income and deductions have been affected by COVID-19 or recent natural disasters.</p>
<p> </p>
</div>
</div>
</div>
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