Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Residential Market

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Taking up tenth position on the Most Discounted Properties Nationwide list from SQM Research is a two bedroom apartment in Harbour Esplanade, Docklands, which was first put on the market in July 2013.
Since first listing the price has been reduced $185,000, according to SQM Research managing director Louis Christopher.
He said the unit, <a href="https://www.realestate.com.au/property-apartment-vic-docklands-110224841" target="_blank">1602/231-245 Harbour Esplanade, Docklands</a>, is located within close proximity of public transport and is just minutes from Melbourne CBD. 
"The property made its way onto the market back in July 2013 with the vendor originally asking for offers above $650,000. Since then the vendor has reduced the price down to $465,000, a total reduction of $185,000," he said.
"The property consists of two bedrooms, one bathroom, and one secure undercover car space. Key features include Gas SMEG cooktop, stainless steel appliances, reverse cycle heating and cooling, ample storage space, and a dual access balcony.
"Over the past week 14 Endeavour Road, Georges Hall, NSW has sold by private treaty. The property was originally advertised with an asking price above $1.2 million, with the vendor only recently knocking this price down to $875,000. With a final sold price of $865,000, the new owner certainly grabbed a bargain, with the vendor selling the property a further $10,000 below the asking price. "
<a href="/images/2016/03/7/Screen%20Shot%202016-03-09%20at%208.01.55%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/7/Screen%20Shot%202016-03-09%20at%208.01.55%20AM.png" alt="">
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mick.cee-iDmgDDAmu8

Docklands offering on SQM's top 10 most discounted properties

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GUEST OBSERVER
With debate raging over who wins and who loses with proposed major changes to negative gearing, attention also falls on which Australian suburbs are most likely to suffer.
The Australian Financial Review recently discussed the “Top 10 suburbs set to suffer under negative gearing plan”. The Australian soon joined this scare campaign. Mandurah in Western Australia, where I spent a recent weekend, is on the AFR’s list.
When I grew up this was a lazy holiday town at the entry to an inlet. It’s now one of Australia’s fastest-growing suburbs with a 50-minute train connection to central Perth. Within walking distance of the town centre is a cluster of relatively recent medium-density mixed-use developments on or near the waterfront. The dolphins and crabs are prolific and opportunities for swimming, boating and kayaking are at everyone’s doorstep.
Unlike most outer suburban developments, the housing is relatively dense – mostly about four to five storeys high, with a couple of blocks up to ten storeys. This is a highly walkable neighbourhood with generous public space. Shops and cafes line much of the ground floor.
<h2>Built density but lacking intensity</h2>
This is not far from the kind of urban development we need a lot more of in Australian cities – places that encourage people to walk to work, shopping and recreation; where densities are high enough to support a good range of shopping and public transport.
The main problem here is that while the built density is relatively high, the population density is less than your average suburb.
The AFR article suggests this is the kind of place that is “set to suffer”, yet these parts of Mandurah already suffer from an occupancy rate that locals estimate at 20%. The empty housing has had a spillover effect into empty shops and offices, empty streets and parks, and poor public transport.
The public space is bereft of vitality (and the safety that comes with it); beaches, parks and walkways are largely empty even on a warm February weekend. While there is lots of built density, there is little intensity of public life. The streets are lined with empty shops used as billboards for real estate and financial services.
<div class="enlarge_hint">While much of this is holiday housing, it is within commuting distance of a major city. How much of it is going to waste simply because those who own it can profit from making a loss under the current negative-gearing rules?</div>
<h2>Bringing empty housing onto the market</h2>
While curbing negative gearing would ease house prices in the short term, in the longer term suburbs like this are set to benefit because it will surely bring much of this empty housing onto the market. Then the synergies of higher-density mixed-use development within reach of good public transport will begin to come into play.
As more residents live within walking distance, more amenities will become viable. The more people walk or cycle, the better the health and transport outcomes.
Ultimately, this is the kind of vibrant walkable city we need to build more of to achieve serious reductions in CO2 emissions – places where we can live great and healthy lives with less reliance on cars.
It is impossible to say how much this production of empty architecture is a function of negative gearing since it also goes hand-in-hand with neoliberal markets and high disparities of wealth. However, the curbing of negative gearing will have a significant impact in getting empty housing onto the market.
This in turn could go some way to reversing this cycle of emptiness – bringing life to the shops, offices, streets, parks and public transport.
<h2>‘Positive gearing’ across Australia</h2>
This is not just a benefit to places like inner Mandurah. It also applies to other empty suburbs and even high-density inner-city neighbourhoods. Southbank and Docklands in Melbourne come to mind as places that produce largely empty buildings – density without intensity.
Negative gearing produces an underutilisation of urban space. The imperative to curb it has important implications for the future of Australian cities.
And this raises a further question – why stop there? If we are looking for new tax revenues that will help to balance the budget, curb CO2 emissions and increase the productivity and vitality of cities, then why not tax the underuse of urban space? Perhaps we could call it “positive gearing”.
Kim Dovey is professor, Architecture and Urban Design, University of Melbourne and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/kim-dovey-107660" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

How negative-gearing changes can bring life back to eerily quiet suburbs

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Mandurah (postcode 6210), the second-largest city in Western Australia, rounds off the top 10 most searched regional suburbs for 2015 on rent.com.au’s list.
The median rent for all rental properties advertised in Mandurah in the 30 days to the first week of February was $310 per week, same as the last quarter. 
In comparison, the surrounding suburbs of Coodanup, Dudley Park, Greenfields, Halls Head, Meadow Springs and Silver Sands were much expensive, with median rent for the same period at $370.
The rental price range in Mandurah varied from $215 for a one-bedroom place to $450 for four-bedrooms in the 30 days.
The average days on market for all rental properties advertised in Mandurah in the latest 90 days was 36 days, 17 days shorter than the previous quarter.
The number of rental properties advertised in Mandurah in the 30-day period rose sharply by 42 to 96 properties — 64 houses and 32 apartments — from the previous 30 days. 
There are a total of 1,899 rental properties in Mandurah, 56.4% of all properties there (ABS, Census Data, 2011). 
Mandurah is made up of 86.1% houses and 13.9% apartments.
Property Observer found these two examples for recent rented properties around the median on rent.com.au:
<img src="/images/2016/03/9/Screen%20Shot%202016-03-09%20at%208.23.11%20AM.png" alt="" width="624" height="436">
1. A three-bedroom house at <a href="https://www.rent.com.au/property-house-mandurah-6210-1356378" target="_blank">42 Cassowary Crescent</a> (above) is up for rent at $350 a week.
<img src="/images/2016/03/9/main.jpg" alt="" width="582" height="437">
2. A three-bedroom villa at <a href="https://www.rent.com.au/property-villa-mandurah-6210-1690152" target="_blank">1/48 Gibson Street</a> (above) can be rented for $310 per week.
The ASX-listed Rent.com.au Ltd achieved a record 615,405 unique visitors to its website in January, followed by more than 610,000 unique visitors in February.
Landlords are able to list their property for free in a limited time offer on <a href="https://www.rent.com.au/">rent.com.au</a>.
 
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Mandurah median rents stayed constant till early Feb, cheaper than surrounds: rent.com.au

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We receive lots of calls from property investors wanting to talk to us about developing. 
During our initial chat we discuss their goals and achievements to date with property. Usually we find that most people have at least one investment property, some have several. Some have built a house before but most haven’t. Then we discuss what property developing is like as an experience to see if they think it may suit them.
Property developing is not for everyone and I’ve found that you need to be somewhat flexible, have an open mind and be fairly non-controlling and decisive.  Without going into a Carl Jung type personality and psychological analysis, it can be hard to determine if a person is ready to embark on a development. But having entrepreneurial traits will help as things won’t always go to plan.
A good starting point is to ask yourself these questions: 
<ul>
<li>Do I understand what needs to be done?</li>
<li>Can I do what’s got to be done?</li>
<li>Do I have the necessary skills, resources, time, and team support?</li>
<li>Can I handle risk?</li>
<li>Can I create real value?</li>
</ul>
Property Bloom has managed many property developments over the years and as we've progressed, we’ve continually refined our process – with every development comes a new learning and we use this experience to improve what we do.  By doing this we’ve been able to save time, money and reduce a lot of the risk. 
Here's an example. The other day we reviewing plans for one of our projects and focussed turned to  the roof. We came up with a great look using various gables to break up the roof line.
Generally speaking, the more detail in the roof design, the more interesting but also the more expensive. We worked out if we used a more simple hip roof, the saving on trusses and roofing materials was substantial. We looked at a design with the hip roof and decided the money was best saved. The saving could be used in other areas that would actually add value like ducted air conditioning for instance.
If you are embarking on a development, due diligence is key. Find areas where there’s good demand and growth indicators with good infrastructure investment taking place.  This can indicate planned growth for the area. Then closely track what’s happening in the locations – fundamental research is just as, if not more important as statistical research to us.
Project managing your development involves dynamic relationships between several different parties. Building established and trusted relationships takes time. Your builder will be one of the most important people on your team so ensure they are efficient and build to the highest of standards. You should work closely with them to ensure all is running to schedule.
So if you find you are not set up to develop property and need a helping hand, then consider engaging a project manager who can help mitigate risk by using their tested methods, understanding of the cities and their suburbs they develop in, that can source good development sites and have a team of people  ready to get your development off the ground. Perhaps with a positive development experience under your belt, you'll be ready to tackle the next on your own.
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Are you ready to be a property developer? Jo Chivers

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First time buyers are reacting to the Australian house price boom by increasingly turning to investment property, apprehensive of missing out as a majority expect prices to rise, says a recent report by consulting firm Digital Finance Analytics.
According to the latest Property Imperative, a bi-annual report by DFA on the residential sector, the survey identified about 321,000 households as first time buyers with the majority seeking to purchase, or have recently buying an owner-occupied property (72%), while the rest preferring an investment property. 
Only 9% of these households expect to transact within the next 12 months, despite 53% believing house prices are set to rise in the same term.
<a href="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2011.04.38%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2011.04.38%20AM.png" alt="">
The Australian residential property market of 9.53 million dwellings is currently valued at over $5.86 trillion and includes houses, semi-detached dwellings, townhouses, terrace houses, flats, units and apartments with the value doubling in the past 10 years, says the report.
"It is one of the most significant elements driving the economy, and as a result it is influenced by state and federal policy makers, the Reserve Bank (RBA), banking competition and regulation and other factors. Indeed, the RBA is 'banking' on property as a critical element in the current economic transition," says Martin North, founder of DFA.
"Residential property remains in the cross-hairs of many players who wish to influence the economic, fiscal and social outcomes of Australia. In policy terms, debates around negative gearing and capital gains tax breaks for investment properties have hotted up."
Data from the CoreLogic RP Data Home Value Index shows dwelling values across Australia’s combined capital cities rose 0.5% in February, pushing home values 1.4% higher over the past three months.
Coming back to the survey, the biggest barrier for first timers to purchase include high house prices (52%), fear of unemployment (7%), finding the right property (24%) and rising costs of living (6%). In terms of financing, 60% of households will need to borrow more than they can currently obtain to transact, whilst 62% of households will consider using a mortgage broker to assist with the finance arrangements. 
The barriers do vary by state. In NSW, first time buyers were finding it more difficult to find a suitable place to buy (31%), whereas costs of living were less significant here. In WA, fear of unemployment (24%) and high prices (52%) were the most significant barriers. 
<a href="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2011.06.40%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2011.06.40%20AM.png" alt="">
First time buyers are split between looking for a house or a unit (in Sydney more are looking for a unit). A greater proportion (21.5%) this time were simply not sure what to buy, or where to buy, a rise from 4% in 2013, the survey showed.
A greater proportion of first time buyers in Sydney are likely to buy, or have bought a unit, rather than a house. In the other states, the preference for a house is stronger, though in Melbourne and Brisbane, it continues to drop. In Perth, house preferences are stronger. 
While comparing the elements influencing a buying decision, the report found a stronger focus on price in 2015. Schools are important, then access to transport, though almost all elements were traded away because of high prices. 
Whilst the ABS tweaked their estimates of first-time buyers taking a mortgage to adjust for the decline in first owner grants, they still give an incomplete picture. 
The traditional wisdom is that first time buyers are sitting out of the property markets, because prices are high, loans harder to get, and confidence is falling. However, one of the most significant developments surrounding first time buyers is that many more are now going direct to the investment sector. 
The original data from the ABS, shows a small rise in the month to 15.1% in December 2015 from 14.9% in November 2015. The DFA data for investor FTB also rose. 
<a href="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2011.08.12%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2011.08.12%20AM.png" alt="">
Also included in the DFA survey are more than 1.35 million households aspiring to purchase property, with 83% looking for owner-occupied and 17% investment. At the moment 21% are actively saving, hoping to buy sometime in the future.
The number of first time buyers are still sitting at around 13,000 a month in total, still well below the peaks in 2009. Our surveys indicate strong FTB investor appetite. The changed underwriting requirements are, however, having an impact. 
There are a number of drivers to this trend. 
First, most first time buyers were unable to afford to purchase a property to occupy, in an area that made sense to them and were being priced out of the market. 
Next, many were anxious they were missing out on recent property gains, so decided to buy a less expensive property (often a unit) as an investment, thanks to negative gearing, they could afford it. 
These buyers are hoping the growth in capital could later be converted into a deposit for their own home – i.e. the investment property is an interim hedge into property. Some are also teaming up with friends to jointly purchase an investment, so spreading the costs. In fact, about one third who purchased were assisted by the bank of mum and dad, and would consider an investment property by accessing their superannuation for property investment purposes. 
Given the heady state of property prices, the growth in investment property by prospective first time buyers is on one hand logical, on the other concerning. The report warns against increasing first-time buyer incentives. 
A deeper look at the trend shows the prospect of potential capital gains being the highest rated driver at 27%, whilst the desire for somewhere to live is just 27%. The prospect of tax savings is up to 12%, whilst the advantage of a First Home Owner Grant (FHOG) is falling away as these grants become less accessible (1%). Ten percent of buyers now expect to pay less than renting, whilst the prospect of greater security remains about the same. 
In conclusion, the report says first time buyers are being infected by the notion that property is about wealth building, rather than somewhere to live. The idea may be tested if interest rates rise later, or property prices fall from their current levels, it warns. 
The overriding result from the survey is the first time buyers are very fearful of missing out, and though recent changes to underwriting standards may cramp their style, but DFA still expects to see a continued rise in the number of first time investor buyers.  
For the report, <a href="https://www.digitalfinanceanalytics.com/blog/latest-dfa-household-survey/" target="_blank">click here</a>.
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First timers fearful of missing out, turning to investment property: DFA survey

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There's been a rush of designer own listings for auction across the inner city.
The interior designer Diane Fernandes and her foodie husband, Peter Kypreos, best known for co-founding Darlinghurst's Buffalo Dining Club, are looking to sell their renovated Zetland cottage.
McGrath agents Marnie Seinor and Brad Gillespie are expecting over $1.3 million at its March 12 auction.
The terrace has two bedrooms, each with original fireplaces.
Diane, whose projects have included Tokyo in Surry Hills and Jimmy Liks in Potts Point, teaches at Sydney Design School. 
The stylish Rozelle townhouse of interior stylist Natalie Fryer (above) didn't sell at auction yesterday, but then found a buyer after auction.
Lydnsey Kemp of Belle Property Balmain passed in the property at $2.05 million with four interested parties in the three bedroom Terry Street strata title property that was bought new in 2007 for $1.46 million.
Natalie set up her own property styling business, m2 Property Presentation six years ago which focuses on helping agents and vendors boost the appeal and saleability of their homes.
Last month McGrath agent, Angus Gorrie sold the home of Mary Brandon, owner of interior design firm MBBD.
Her four-bedroom property boasts views over Sydney Harbour across Cooper Park.
The View Street property fetched $2.72 million. 
This article was first published in the Sunday Telegraph.
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Designer listings aplenty across Sydney inner city

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Moelis managing director Andrew Martin and his wife Kate secured around $7.5 million for their Darling Point home last weekend through McGrath agent Ben Collier.
The couple paid $825,000 for the freestanding 1900's home and added a heated swimming pool.
The 525 sqm property has five bedrooms and three bathrooms.
The Martins are off to Paddington having paid around $10.5 million for the the converted furniture emporium sold by billionaire tech entreprenuer Mike Cannon-Brookes and wife, Annie late last year. 
Andrew has over 20 years of experience globally including roles at UBS and with Rothschild. 
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Moelis merchant banker Andrew Martin sells Darling Point for Paddo emporium

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Singer songwriter Missy Higgins, the ARIA award-winner, has secured a buyer for her Abbotsford red brick warehouse conversion, as her offering joined the 2016 early bird properties selling quickly and without disappointment.
Higgins paid $1.8 million in mid-2012 for the property (above) with ITN Architects refurb. It was listed by private treaty through Kay &amp; Burton with $2.1 million hopes. There's suggestions 21a Mollison Street, set a short walk to the Yarra River, Studley Park and Victoria Street shops, fetched $2.2 million.
"The market is rocking strong at all levels on almost all properties," said Melbourne buyers agent Mal James.
"Only C grade stock is failing and that is almost always a function of seller opinion versus market opinion on the price," he suggested.
Four sales above $6 million kept the trophy home markets turning over nicely, with agents in Sydney and Melbourne now complaining they don't have the prestige stock to match buyer demand.
Australian test cricketer vice captain David Warner and his wife Candice secured a bullish $7 million plus sale of their South Coogee home three weeks ahead of its intended weekend auction.
The sale was easily above the $6.25 million paid two years ago by the couple who listed following their $4 million purchase of a oceanfront building block in Maroubra. 
The South Coogee home, once rented by ealier owners to the cast of the Geordie Shore reality television show, sold through McGrath agent Bethwyn Richards.
There was also a $6.45 million Mosman pre-auction sale which the Simeon Manners agency declared for its 61a Muston Street offering.
In Armadale, the price of the under the hammer sale of 12 Barnato Grove through Kay &amp; Burton, was not released publicly.
But attendees said it was sold at $6.74 million with four bidders no doubt attracted to the cutting edge five bedroom home set in Nathan Burkett designed gardens that featured in '100 Australian Gardens &amp; Landscapes.'
There'd been initial $4.5 million-plus price guidance.
A pre-auction modern four bedroom Balwyn home sale presumably took third place on the sales' podium as it was listed with $6 million plus aspirations, selling at an undisclosed price well ahead of the weekend auction.
Piermont, at 4 Boston Road, was a newly completed Phillip Mannerheim-designed home, with eight car basement garage, in the suburb's omnipresent Chateau-style (below).
<img src="/images/2016/03/7/main.jpg" alt="" width="660" height="495">
 
<img src="/images/2016/03/7/image11.jpg" alt="">
The nation's cheapest weekend result was a house in the Brisbane suburb of Marsden. The $267,000 sale at 10 Birch Street secured a three bedroom house which last sold at $90,000 in 1993. It fell short of the $285,000 asking price when listed by private treaty last November.
With less stock on the market there were more sales at higher than reserve than in previous weeks.
Wildly exceding expectations, in Sydney's Kingsford, an unrenovated, three-bedroom house attracted 27 bidders who forced the price to $3,065,000 – $1,065,000 over its reserve.
It traded in 2008 for just $1,015,000 with NG Farah selling agent Glenn Farah saying the weekend result at 6 Forsyth Street was “out of line” with other results in the area.
The auction of a classic Pettit and Sevitt house at West Pennant Hills, where seven parties lodge 68 bids before the hammer fell at $1,237,500 for the unrenovated house at 31 Eaton Road – $237,500 more than the reserve.
In St Kilda, the 1919 Aston Court, Spanish Mission apartment at 2/43 Acland Street had been listed with $900,000 plus hopes. Last traded at $635,000 in 2003, the two bedroom was knocked down at $1.24 million.
Not so lucky in St Kilda was entertainment industry talent manager Pete Sofo whose Santorini, 214/3-7 Alma Road investment apartment offering now comes with a private treaty price of $469,000. Sofo's McGrath agents had it initially listed expecting $400,000 to $440,000 for its March 5 auction. It last traded at $287,000 in 2006.
There were fewer auctions held this week across the capital cities - 2,253 compared to last week's 2,701, and the clearance rate fell from 71 percent last week to 68 percent this week, according to CoreLogic RP Data.
This week’s result marked the first time below the 70 percent mark this year.
Volumes will head lower next week due to the Labour Day public holiday in Melbourne where auction clearance rates sat at 70 percent, having fallen from 74 percent last week, with clearance rates ranging from 75.2 percent in North East Melbourne to 62.5 percent in Outer East Melbourne.
In Sydney, clearance rates fell to 68 percent this week from 72 percent last week. Over the week, 684 auctions were held across the city, down from 919 last week and also lower than the 944 that went under the hammer last year.
The inner regions of Sydney have maintained strength this week, with City and Inner South (81.3 percent), Ryde (80.7 percent) and Northern Beaches (78 percent) showing the strongest auction clearance rates for the week.
Brisbane’s preliminary results show 52.3 percent of auctions and across the Gold Coast, a preliminary clearance rate of 32.4 percent was recorded this week.
Canberra had the nation's best clearance rate at 71 percent this week with prices between $287,000 for a $380 a week, 1990s Kingston flat rental and a $2,585,000 four bedroom home in Forrest.
<a href="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2012.28.58%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/7/Screen%20Shot%202016-03-07%20at%2012.28.58%20PM.png" alt="">
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Few auctions missing the mark among early bird offerings 

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House prices have fallen considerably in Port Hedland, Derby and Karratha over the past year, according to JLL's Residential Market Review for February.
The report said Port Hedland, once a rival to Sydney for prices; has seen the median house price fall by -29.0% over the past year to $576,000 and is expected to fall further. 
"Prices in Derby have fallen -29.3% to $290,000. Prices in Karratha have fallen -21.7% to $428,000," it said.
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"Broome, not affected by mining, has nevertheless seen house prices fall -10.6% to $539,000."
<a href="/images/2016/02/16/Screen%20Shot%202016-02-16%20at%2011.16.42%20AM.png" target="_blank">Click to enlarge</a>
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House prices fall in WA's Port Hedland, Derby and Karratha: JLL

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GUEST OBSERVER
The dawn of Autumn brings a fresh round of listings to the residential market, as vendors who have been waiting patiently for the holiday season to conclude begin to put their property up for sale.
 Listings in February are up by 50% for houses, 9% for townhouses and 14% for apartments compared to last month, albeit coming from the lowest turnover month of the year.
Increased supply equates to more choice for buyers. While bidding at auctions was strong and nominal prices were higher than last year, many properties in the inner suburbs have seen a decrease in real values since February 2015.
Average house prices in the inner suburbs were down 2% over the rolling quarter. After adjusting for inflation, the worst performer was the inner North, with median prices consistently falling each month since October 2015. Brunswick, Brunswick East and North Melbourne are all on Secret Agent's bust list for three or more rolling quarters. At the other end of the market, real prices in the inner South are on par with the highest point reached in 2015. With only small sale volumes, this statistic might be exaggerated, but it is supported by the underlying trend of rising house prices in this region. 
South Melbourne and Port Melbourne are the best performers, each experiencing four and three consecutive rolling quarters of price growth, respectively.
<a href="/images/2016/03/4/Screen%20Shot%202016-03-04%20at%201.56.15%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/4/Screen%20Shot%202016-03-04%20at%201.56.15%20PM.png" alt="">
Townhouses saw the biggest drop in price of all property types, down 4.5% over the past three months. This is great news for buyers, who were able to obtain more value for their money. The median price per square metre was down 16.5% to $6,300. Despite being well above the median price per square meter for houses, which currently sits at approximately $5,000 per square metre, this is well below the usual premium charged for the convenience townhouses offer to homeowners.
Apartments are the only market that saw a price increase this quarter compared to last, by nearly 2%. With mortgage rates still at an all-time low, many potential buyers are able to enter the market at the bottom end. Fitzroy is again on our apartment boom list, with Collingwood also joining as a high growth suburb in recent months. On the other hand, CBD apartments continue to fall in value, down 11% in real terms since this time last year. 
This trend is likely to continue as the year progresses and more supply is released to the market. The Melbourne CBD and Southbank areas have both experienced three rolling quarters of price decline. Secret Agent notes that precedents are still being broken at the higher quality end of the market. Our data does not accurately represent this part of the market and it needs to be considered from an observational perspective. Quality has been in short supply in the early parts of 2016. As a result, quality offerings are snapped up quickly once discovered by the general public.
The next few months will help set the tone for the rest of the year. The property market is highly topical at the moment with the expectation of a slow down in the economy. This could bring the debate of a potential bubble burst back into the public arena. However, the latest GDP figures show an economy that is still proving to be resilient. Over the coming months, Secret Agent intends to delve deeper into the economy and look at current expectations for the short to medium term.
Quarterly Scorecard
DEC 2015 - FEB 2016
<a href="/images/2016/03/3/Screen%20Shot%202016-03-03%20at%2012.56.27%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/3/Screen%20Shot%202016-03-03%20at%2012.56.27%20PM.png" alt="" width="851" height="489">
For more information, <a href="https://secretagent.com.au" target="_blank">click here</a>.
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