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23.01.2022 Build-to-rent is NOT affordable housing, it is more expensive housing. Tim Gurner nailed it here and Sally Capp misses the whole point of what build-to-rent (BTR) is all about; profit. I have great respect for the Melbourne Lord Mayor however Ms Capp appears to believe that major corporations want to provide affordable rental housing without a profit. Sorry, this makes no sense whatsoever. The conferences I have been to, the people I have spoken to that are involved from the...se corporations looking into BTR and the material I have read all point to the need to create a high amenity lifestyle apartment development where they can charge a premium rental to break even or make a small profit. Corporations are not in the charity business, they make profits for shareholders who want returns. BTR doesn't do that. How could it ever be affordable housing? And if the federal government ever gave the BTR sector tax incentives to enable them to make profits it will skyrocket demand for genuine affordable rental housing like never before seen. If you think there's an affordable housing problem now, wait until you see it then! #propertydevelopment #affordablehousing #lefta #btr #property #propertyexpert #timgurner #sallycapp

23.01.2022 Whilst the media goes wild over the potential for an outbreak of coronavirus in Australia so they can attack government, we at the coal face have immediate challenges to deal with. Thankfully this article talks a bit about the affect on Australia but misses quite a number of substantial impacts. The plethora of vacant student accommodation around Australia is bad news for their operators but spare a thought for every other business that also relies on students such as bicycle... hire shops and dry cleaners. Everyone is suffering from the lack of people and movement. But let's not forget those in the property industry. There is uncertainty and many foreign investors waiting to see what happens globally before committing their money into Australia. Projects won't start and unemployment will rise in our industry. The projected property price increases may not be achieved and housing may remain a little bit affordable (well, not really but let's just say this for now) for a while. But here's the thing, it will bounce back, and bounce back quickly when the number of diagnosed cases starts to fall. If you're not prepared for that then you will miss a perfect opportunity to make a bit of money. #lefta #propertydevelopment #coronavirus #propertyprices #melbourne #propertyexpert

23.01.2022 Great to see PDG Corporation involved in another great project in Melbourne and particularly with it providing a decent number of affordable housing dwellings so close to the city. It's also great to see that Sally Capp's team at City of Melbourne are pushing ahead with quality urban renewal projects on government land. #affordablehousing #pdg #lefta #sallycapp #cityofmelbourne #propertymarket #developmentsite #apartments #propertydeveloper #urbanrenewal

20.01.2022 Great to see BTR getting a boost from the "top end of town" but why don't they try to assist with affordable housing? It has tax effective structures (which BTR doesn't) and will genuinely assist low to middle income earners throughout Australia. Is the "top end of town" too focused on profit when there is profit in helping people too? Perhaps the Property Council of Australia could do more for Australians by pushing for more affordable housing solutions than BTR?... #lefta #affordablehousing #btr #propertydevelopment

19.01.2022 You may have seen this article yesterday but can you imagine the potential corruption that could emanate from this? Political parties can't take donations from property developers without there being a massive uproar so why would government even think about buying property from them? Who would decide which property developer to buy from? Corruption potential?... If there are government projects unfunded then get them funding so they can go to tender and get the construction industry active. Build social and affordable housing, but build it where it's needed. Government has great opportunity to do some good work here so let's hope they do it right and not waste money like what happened during the "Building The Education Revolution" post GFC. #propertydevelopment #propertyadvice #propertymarket #propertyexpert #affordablehousing

18.01.2022 The numbers are looking up for most of Australia over the past quarter. Only WA and the NT are still in the doldrums however they are the most affordable cities with a high level of first home buyer activity. Has the market turned? It appears so. #propertyexpert #propertyinvestments #propertyprices #propertymarket #developmentsite #lefta #propertyinvestment #apartments #buying #propertydevelopers #propertydeveloper #markettrends #realestate #propertydevelopment #housing

14.01.2022 "Momentum in the property market is strong and leading indicators point to solid price rises continuing." CBA suggests that prices in Sydney and Melbourne will rise by 7% and 8% respectively and even Perth by 2.5% after a decade of stagnation and declining prices. Is it a mini boom? Looks like it. God help housing affordability if the Reserve Bank of Australia drops interest rates again in the near future as that will spark a massive price boom all over again.... It's good news for the property industry but won't do much for turning around the rising unemployment due to the current downturn in the construction sector however that will change over the coming 2 years if prices keep rising. #lefta #propertyexpert #propertyinvestments #propertyprices #propertymarket #developmentsite #propertydevelopers #propertydeveloper #prices #propertyinvestment

14.01.2022 "Melbourne is forecast to lead the charge with a 12 per cent growth. In October, ANZ was expecting prices to rise by 9 per cent." With a lovely picture of Bondi Beach, this article tells us how the Melbourne market is expected to surge ahead compared to a paltry 10% for Sydney. Read those numbers carefully; 10-12% growth on one year, not 2, 3 or 4, in one year. I think we can forget using the word "affordable" in anything other than a negative manner from now on.... #propertyexpert #lefta #propertydevelopment #houseprices #propertydeveloper #propertydevelopers #propertyinvestment #affordable #supplyanddemand #property #prices #revenue #development #homevalues #melbourne #sydney

13.01.2022 "Lower borrowing costs will push home values higher this year, CoreLogic's head of research for Australia, Eliza Owen, says." Without being rude, I don't think that you need to be Einstein to work this one out. That said, there is a bit of flack around property. Unemployment is rising. Affordability issues remain. The Opal Tower "hangover" remains. ... But on the bright side, there's virtually no new apartment stock coming into the market because people are scared to buy it. This means that demand for the limited stock that is available will push prices up and will lead to people moving back to new apartments. The crash isn't completely over; we are recovering, but always always keep a look on the wider economy to see what headwinds are coming. #propertydevelopment #propertydeveloper #propertydevelopers #propertyexpert #propertyinvestment #propertyadvisory #property #lefta #houseprices #development #affordable #investmentproperty #homevalues

13.01.2022 "Sydney's housing market is on track to recoup the 15 per cent loss in prices suffered during the 18-month downturn early next year and reach a new record high by March." Is this a matter of "here we go again" or are we more sophisticated than that? "CoreLogic's head of research Tim Lawless said since Sydney's market had bottomed out in May, prices were up 8.2 per cent and just 8 per cent lower than when prices peak in July 2017."... How scary is this statement? It seems to me that we, as a society, are very raw and certainly not very sophisticated when it comes to property. Mind you, the government hasn't helped much with its intervention. The RBA now has a serious problem to deal with. If the lower rates yet again then "BOOM" goes the property market but not so the rest of the economy in the short term. Where to from here? Let's wait and see what the RBA does next. #lefta #propertyexpert #propertyprices #propertyinvestments #developmentsite #propertymarket #propertyinvestment #propertydeveloper #propertydevelopers #propertydevelopment

11.01.2022 It's great to see these larger organisations making pledges to help fund affordable and social housing. What will be interesting to see is whether they do or not. Only time will tell but let's just hope it all works out well.

07.01.2022 If the best the Australian Financial Review Property Summit can do is say that government needs to step up to resolve the housing affordability crisis then what a poor bunch of people they are. If we expect government to pay for everything then we may as well be a communist country. What's wrong with our capitalist base? The private sector has to resolve the housing issues we are currently seeing and those entities with the capital need to reconsider their approach to residen...tial property and start investing into affordable housing. And all this rubbish about "build to rent" resolving the affordable housing issue is pathetic. Every BTR conference I have attended and every article I've read is the same, "we need to provide high quality product with high amounts of amenity to enable people to want to live in them". And they all insist that BTR be given tax advantages. Garbage! BTR is too expensive given all the amenity. BTR can never be affordable so long as all the amenity is provided and so long as the private sector wants the high yields. Residential property doesn't provide high yields so why expect them? The capital growth is why residential property is so good. #propertyexpert #lefta #propertyinvestments #propertymarket #affordablehousing #property #propertydevelopment

07.01.2022 Do they really give a sh*t? "The NSW Housing Strategy will set a new 20-year vision for housing in NSW, and outline the key priorities and actions the NSW Government will take to achieve this vision, alongside our delivery partners. It will consider housing supply, diversity, affordability and resilience needs across NSW communities, from homelessness to social and affordable housing; to housing for seniors or people with disability; and to private market housing, whether ren...ted, mortgaged or owned." What makes government think that they can actually achieve this when they have failed to date? I note they use the word "resilience" which, if I put my pessimistic hat on, means that we just have to dealt with the problems ourselves. Nice; real nice! That said, I now put on my optimistic hat and say it's about time the government had a real go at dealing with some of the issues. Over to you, the reader, to actually do something about it. Are you going to just criticise the outcome or will you participate to let government know your views? They need your help. Let them know your thoughts; I will let them know mine. I have a voice and so should you. #property #propertydevelopment #btr #propertydevelopers #affordablehousing #propertyindustry #propertyinvestment #lefta

06.01.2022 "There may be some lucrative opportunities for investors in some Perth suburbs..." Apparently "The start of the new decade is primed for some lucrative opportunities for investors". Of course there are, they're all over the country, and all you have to do is find them! I just happen to agree, but in the property development sector. Whilst there are plenty of projections saying property prices are going to skyrocket and completely make-up the ground lost since November 2017's ...peak, I'm not so sure it will be that phenomenal. In fact, I'm hoping it will be a slow steady rise over time instead of rapid peaks and troughs. Maybe the Coronavirus will slow things down like it has the Aussie dollar, to it's lowest level since the GFC. What an increasing property market tells me is that demand is building for more affordable products. It's time we all focused on affordability as an industry. Let's just get it done! #propertydevelopment #propertyexpert #propertyservices #propertydeveloper #propertydevelopers #houseprices #propertyinvestment #supplyanddemand #affordable #homevalues #propertyadvisory #lefta #investmentproperty #propertymarket #propertyprices #affordability

05.01.2022 Great to see that NHFIC is providing low cost loans to the major community housing providers to enable them to provide additional community housing. It's a pity that the funding isn't reaching the 2nd and 3rd tier community housing providers yet. Let's hope its not too long before they do.

05.01.2022 Sydney median price $1.25million! WHAT?!?!?! You have got to be kidding! "Domain’s Property Price Forecasts 2020, released Wednesday, predicts houses in Sydney will rise by 10 per cent over 2020 to a new median of around $1.25 million, while apartments will rise by 8 per cent to a new median of $790,000 just above the peak reached in June 2017" Here we go again! More un-affordable housing.... #lefta #herewegoagain #propertydevelopment #propertydeveloper #houseprices

04.01.2022 More absolute rubbish! Government does not have to support built-to-rent (BTR) just because it's not viable for the private sector. And BTR will NOT make housing more affordable; it's actually more expensive. If government is going to support anything it has to support the affordable housing market directly. But if government sees fit to provide support to BTR and the BTR proponents are trumpeting that it will solve the affordability crisis then let's see them (the BTR propon...ents) meet the hurdles of affordable housing rents. By all means let the private sector develop BTR but at rents 20% less than comparable market rents, if they want government support. Come on Nila Sweeney you are a much better journo than this. You don't need to sell a false headline, people read your article regardless and respect your reporting. Unfortunately not this time. #affordablehousing #buildtorent #lefta #propertyexpert #propertydevelopment #housing #propertydevelopers #property #realestate

04.01.2022 "Inner Sydney's new apartment market will return to balance next year..." It goes up, it comes down, and then it goes up again. The rollercoaster of property cycles; if you own property then you get used to it. This article contains some commentary on recent analysis by BIS. It's an interesting read, particularly if you are interested in the Sydney city region. It supports what I have been thinking generally and that is whilst we have slowed, the oversupply is being absorbed ...and new supply will be needed shortly. With interest rates heading upwards in the not too distant future (they can't keep going down forever), rents will begin increasing as investors require a higher yield on their property due to the higher cost of finance in the future. And so the cycle repeats, and with it housing affordability will suffer again. #property #propertydevelopment #housing #sydney #apartment #australia #housingaffordability #affordablehousing

03.01.2022 It begins. Finally some discounted loans are being made available to assist with development of new social and affordable housing. Imagine if the private sector who developed social and affordable housing was able to access similar funds? What a difference the private sector could make to the quantity of affordable housing.

01.01.2022 There may have been a property "crash" but prices have already risen and are heading north even more in 2020 according to many projections. What's going to happen when interest rates increase?

01.01.2022 Our CEO, Steven Chandler, was recently interviewed on Perth's largest radio station regarding affordable housing. Listen to the interview here.

01.01.2022 Too important not to share this one with everyone. It's a bit long but well worth knowing what the virus actually does. This may just help to quell further hysteria. #coronavirus